Rithm Capital Reports Strong Q2 Earnings and Outlines Growth Strategy
Rithm Capital reported second-quarter distributable earnings of $338.9 million, or $0.60 per diluted share, significantly higher than its GAAP net income of $20.2 million. The company maintained a quarterly dividend of $0.25 per share and ended the quarter with book value of $12.33 per share and liquidity totaling $2.1 billion. The firm highlighted strong performance across its operating businesses, including Newrez's pretax income of $308 million and Genesis Capital’s 26% increase to about $42 million in pretax earnings. Rithm also expects over $65 million in annual savings from the Valon platform transition at Newrez. Rithm is focused on expanding its asset management segment, which oversees more than $100 billion in investable assets—$61 billion of which are third-party funds—and aims to double that amount within one to two years. The company emphasized performance over growth and outlined fundraising efforts across private credit, real estate, infrastructure, and insurance strategies.
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