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Compared to Estimates, Rithm (RITM) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, Rithm (RITM - Free Report) reported revenue of $1.29 billion, up 64.2% over the same period last year. EPS came in at $0.48, compared to $0.35 in the year-ago quarter.
The reported revenue represents a surprise of +18.67% over the Zacks Consensus Estimate of $1.08 billion. With the consensus EPS estimate being $0.41, the EPS surprise was +17.07%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Rithm performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Interest income: $448.18 million versus $459 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +29.3% change.
Revenues- Gain on sale of originated mortgage loans, net: $149.55 million versus $106.08 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +36.9% change.
Other revenues: $58.35 million versus the three-analyst average estimate of $58.16 million.
Asset management revenues: $75.86 million compared to the $91.70 million average estimate based on three analysts.
Revenues- Servicing revenue, net: $554.38 million versus $369.02 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +69.3% change.
Shares of Rithm have returned +2.7% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, Rithm (RITM) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, Rithm (RITM - Free Report) reported revenue of $1.29 billion, up 64.2% over the same period last year. EPS came in at $0.48, compared to $0.35 in the year-ago quarter.
The reported revenue represents a surprise of +18.67% over the Zacks Consensus Estimate of $1.08 billion. With the consensus EPS estimate being $0.41, the EPS surprise was +17.07%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Rithm performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Interest income: $448.18 million versus $459 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +29.3% change.
- Revenues- Gain on sale of originated mortgage loans, net: $149.55 million versus $106.08 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +36.9% change.
- Other revenues: $58.35 million versus the three-analyst average estimate of $58.16 million.
- Asset management revenues: $75.86 million compared to the $91.70 million average estimate based on three analysts.
- Revenues- Servicing revenue, net: $554.38 million versus $369.02 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +69.3% change.
View all Key Company Metrics for Rithm here>>>Shares of Rithm have returned +2.7% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.