Rithm Capital (RITM) Q3 2026 earnings summary

Executive summary

• Q3 EAD was $315.3M, or $0.55 per diluted share; GAAP net income attributable to common stockholders was $217.1M, or $0.38 per diluted share.

• Investable assets exceeded $110B, including $61B of AUM and $57B of balance-sheet assets; permanent capital exceeded $9B.

• EAD exceeded common dividends for 28 consecutive quarters; management cited momentum across Newrez, Genesis and Elecor.

Financial highlights

• Consolidated Q3 revenue was $1.756B; net income was $261.3M, while net income attributable to common stockholders was $217.1M.

• EAD was $315.3M versus $338.9M in Q2; GAAP net income attributable to common stockholders was $217.1M versus $20.2M in Q2.

• Book value was $12.51 per common share, up from $12.33 at Q2-end; the common dividend was $0.25 per share, with an 11.2% indicated yield.

• Quarter-end cash and liquidity totaled $1.9B.

Outlook and guidance

• Organic growth targets $75B–$80B of AUM by end-2028, equivalent to ~9% CAGR from 2025; acquisitions may complement growth.

• Newrez AI and platform investments are expected to generate $125M+ in annual savings, with benefits beginning in 2027; estimates depend on implementation and exclude incremental software costs.

• Genesis 2026E originations are $6.2B; management sees multifamily lending as a longer-term growth driver.

• The SFR portfolio is being wound down, with properties pursued for sale while operations and rental income continue pending disposition.