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Compared to Estimates, Rithm (RITM) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2024, Rithm (RITM - Free Report) reported revenue of $619.51 million, down 43.1% over the same period last year. EPS came in at $0.54, compared to $0.58 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.11 billion, representing a surprise of -44.39%. The company delivered an EPS surprise of +25.58%, with the consensus EPS estimate being $0.43.
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: $550.73 million versus $487.76 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.6% change.
Revenues- Servicing revenue, net: -$254.16 million versus the four-analyst average estimate of $314.63 million. The reported number represents a year-over-year change of -154.8%.
Revenues- Other: $57.21 million compared to the $58.51 million average estimate based on four analysts.
Revenues- Asset management: $81.04 million compared to the $85.07 million average estimate based on four analysts.
Revenues- Gain on originated residential mortgage loans, held-for-sale, net: $184.70 million versus $168.06 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +23.8% change.
Shares of Rithm have returned -7.8% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Rithm (RITM) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2024, Rithm (RITM - Free Report) reported revenue of $619.51 million, down 43.1% over the same period last year. EPS came in at $0.54, compared to $0.58 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.11 billion, representing a surprise of -44.39%. The company delivered an EPS surprise of +25.58%, with the consensus EPS estimate being $0.43.
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: $550.73 million versus $487.76 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.6% change.
- Revenues- Servicing revenue, net: -$254.16 million versus the four-analyst average estimate of $314.63 million. The reported number represents a year-over-year change of -154.8%.
- Revenues- Other: $57.21 million compared to the $58.51 million average estimate based on four analysts.
- Revenues- Asset management: $81.04 million compared to the $85.07 million average estimate based on four analysts.
- Revenues- Gain on originated residential mortgage loans, held-for-sale, net: $184.70 million versus $168.06 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +23.8% change.
View all Key Company Metrics for Rithm here>>>Shares of Rithm have returned -7.8% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.