Press Release: Rithm Capital Corp. Announces Third Quarter 2025 Results

Dow Jones
Oct 30
NEW YORK--(BUSINESS WIRE)--October 30, 2025-- 

Rithm Capital Corp. (NYSE: RITM; "Rithm Capital," "Rithm" or the "Company") today reported the following information for the third quarter ended September 30, 2025.

"This quarter marks a pivotal step forward in Rithm Capital's journey, driven by strategic acquisitions, platform expansion, and a disciplined investment approach, as we continue building a diversified, asset management platform," said Michael Nierenberg, Chief Executive Officer of Rithm Capital. "The pending acquisition of Crestline meaningfully expands our offering into direct lending and insurance and together with Sculptor, delivers comprehensive product solutions for investors. Further, the pending acquisition of Paramount significantly enhances our commercial real estate expertise and expands our owner-operator model. These milestones deepen our capabilities across key investment verticals and unlock differentiated value for our investors and shareholders."

Financial Highlights:

   --  GAAP net income of $193.7 million, or $0.35 per diluted common 
      share(1) 
 
   --  Earnings available for distribution of $296.9 million, or $0.54 per 
      diluted common share(1)(2) 
 
   --  Common dividend of $138.5 million, or $0.25 per common share 
 
   --  Book value per common share of $12.83(1) 
 
                                                       Q3 2025    Q2 2025 
                                                      ---------  --------- 
Summary Operating Results: 
GAAP Net Income per Diluted Common Share(1)            $   0.35   $   0.53 
GAAP Net Income (in millions)                          $  193.7   $  283.9 
 
Non-GAAP Results: 
Earnings Available for Distribution per Diluted 
 Common Share(1)(2)                                    $   0.54   $   0.54 
Earnings Available for Distribution(2) (in millions)   $  296.9   $  291.1 
 
Common Dividend: 
Common Dividend per Share                              $   0.25   $   0.25 
Common Dividend (in millions)                          $  138.5   $  132.6 
 

Business Highlights:

   --  Origination & Servicing: 
 
          --  Newrez LLC ("Newrez"), Rithm Capital's multichannel mortgage 
             origination and servicing platform, posted pre-tax income of 
             $295.1 million in Q3'25, excluding the net of hedge mortgage 
             servicing rights ("MSRs") mark-to-market loss of $(61.0) million, 
             up from $275.1 million in Q2'25, excluding the net of hedge MSRs 
             mark-to-market gain of $29.9 million. 
 
          --  Newrez generated a 20% pre-tax return on equity ("ROE") on $6.2 
             billion of equity(3)(4). Total servicing unpaid principal balance 
             ("UPB") reached $878 billion, an increase of 7% YoY, which 
             includes $282 billion UPB of third-party servicing, an increase of 
             21% YoY. 
 
          --  Origination funded production volume was $16.4 billion in Q3'25, 
             an increase of 3% YoY. 
 
 
   --  Investment Portfolio: 
 
          --  Rithm Capital completed a non-qualified mortgage securitization 
             in the quarter totaling $483 million in UPB. 
 
          --  Rithm Capital entered into a forward flow agreement with Upgrade, 
             Inc. to acquire $1 billion in home improvement loans ("HIL"). 
 
                 --  Acquired $234 million in HIL under the forward flow 
                    agreement in Q3'25 and, subsequent to quarter-end, acquired 
                    another $150 million in HIL. 
 
 
 
 
   --  Residential Transitional Lending: 
 
          --  Rithm Capital's residential transitional lending platform, 
             Genesis Capital LLC ("Genesis Capital"), recorded Q3'25 
             origination volume of $1.2 billion, an increase of 60% YoY, 
             consistent with the record volume achieved in Q2'25. 
 
          --  Genesis Capital continued to expand its sponsor base, growing 
             new sponsors by 71 in Q3'25, an 82% increase YoY. 
 
 
   --  Asset Management: 
 
          --  Rithm Capital's alternative asset manager, Sculptor Capital 
             Management Inc. ("Sculptor Capital"), grew to approximately $37 
             billion of assets under management ("AUM")(5) as of September 30, 
             2025, including gross fundraising inflows of $1.4 billion across 
             the Sculptor platform during the quarter. 
 
          --  Sculptor Capital also continued its active presence in the 
             collateralized loan obligation markets with a successful issuance 
             and reset in the European market contributing approximately $585 
             million of AUM in Q3'25. 
 
          --  Rithm Capital entered into a definitive agreement to acquire 
             Crestline Management, L.P., a Fort Worth, TX based alternative 
             asset manager with $18 billion in AUM as of June 30, 2025. 
 
                 --  Investment strategies include direct lending, 
                    opportunistic credit, net asset value lending and 
                    insurance. 
 
                 --  Closing is targeted for Q4'25, subject to customary 
                    closing conditions and approvals. 
 
 
 
          --  Rithm Capital entered into a definitive agreement to acquire 
             Paramount Group, Inc. ("Paramount") (NYSE: PGRE), an owner and 
             operator of Class A office properties in New York and San 
             Francisco, for approximately $1.6 billion in cash consideration. 
 
                 --  Closing is targeted for Q4'25, subject to customary 
                    closing conditions, including the approval of Paramount's 
                    common stockholders. 
 
 
 
 
 
(1)    Per diluted common share calculations for both GAAP Net Income and 
       Earnings Available for Distribution are based on 551,295,686 and 
       537,347,700 weighted average diluted shares for the quarters ended 
       September 30, 2025 and June 30, 2025, respectively. Per share 
       calculations of Book Value are based on 554,196,670 common shares 
       outstanding as of September 30, 2025. 
 
(2)    Earnings Available for Distribution is a non-GAAP financial measure. 
       For a reconciliation of Earnings Available for Distribution to GAAP Net 
       Income, as well as an explanation of this measure, please refer to the 
       section entitled Non-GAAP Financial Measures and Reconciliation to GAAP 
       Net Income below. 
 
(3)    Excludes the net of hedge full MSR mark-to-market and related hedge 
       impact of $(61.0) million. 
 
(4)    ROE is calculated based on annualized pre-tax income, excluding MSR 
       mark-to-market and related hedge adjustment, divided by the average 
       Origination and Servicing segment ending equity for the respective 
       period. 
 
(5)    AUM is estimated and refers to the value of assets for which Rithm 
       Capital and its affiliates provide discretionary investment management 
       or advisory services. AUM is generally calculated as the sum of: (i) 
       the net asset value of managed accounts and open-ended funds or gross 
       asset value of real estate and real estate funds, (ii) uncalled capital 
       commitments and (iii) par value of structured credit vehicles. AUM 
       includes amounts that are not subject to management fees, incentive 
       income or other amounts earned on AUM and excludes proprietary assets 
       held on Rithm Capital's balance sheet. Rithm Capital's calculation of 
       AUM is intended to provide a consistent and comparable measure of 
       managed assets across its businesses; however it is not based on any 
       specific regulatory definition and may differ from similarly titled 
       measures presented by other asset managers and, as a result, may not be 
       comparable. 
 

ADDITIONAL INFORMATION

For additional information that management believes to be useful for investors, please refer to the latest presentation posted on the Investors - News section of the Company's website, www.rithmcap.com. Information on, or accessible through, our website is not a part of, and is not incorporated into, this press release.

EARNINGS CONFERENCE CALL

Rithm Capital's management will host a conference call on Thursday, October 30, 2025 at 8:00 A.M. Eastern Time. A copy of the earnings release will be posted to the Investors - News section of Rithm Capital's website, www.rithmcap.com.

The conference call may be accessed by dialing 1-833-974-2382 (from within the U.S.) or 1-412-317-5787 (from outside of the U.S.) ten minutes prior to the scheduled start of the call; please reference "Rithm Capital Third Quarter 2025 Earnings Call." In addition, participants are encouraged to pre-register for the conference call at https://dpregister.com/sreg/10203970/1002e07a6aa.

A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.rithmcap.com. Please allow extra time prior to the call to visit the website and download any necessary software required to listen to the internet broadcast.

A telephonic replay of the conference call will also be available two hours following the call's completion through 11:59 P.M. Eastern Time on Thursday, November 6, 2025, by dialing 1-877-344-7529 (from within the U.S.) or 1-412-317-0088 (from outside of the U.S.); please reference access code "3226103".

 
Rithm Capital Corp. and Subsidiaries 
 Consolidated Statements of Operations (Unaudited) 
 ($ in thousands, except share and per share data) 
 
                                            Three Months Ended 
                                      ------------------------------ 
                                      September 30,     June 30, 
                                           2025            2025 
                                      -------------  --------------- 
Revenues 
     Servicing fee revenue, net and 
      interest income from MSRs and 
      MSR financing receivables       $    579,281   $    574,817 
     Change in fair value of MSRs 
      and MSR financing receivables, 
      net of economic hedges 
      (includes realization of cash 
      flows of $(189,881) and 
      $(176,680), respectively)           (264,351)      (155,005) 
                                       -----------    ----------- 
  Servicing revenue, net                   314,930        419,812 
  Interest income                          453,786        478,455 
  Gain on originated residential 
   mortgage loans, held-for-sale, 
   net                                     196,308        169,698 
  Other revenues                            55,628         54,066 
  Asset management revenues                 84,871         95,008 
                                       -----------    ----------- 
                                         1,105,523      1,217,039 
Expenses 
  Interest expense and warehouse 
   line fees                               402,690        417,868 
  General and administrative               237,092        239,575 
  Compensation and benefits                299,073        294,407 
                                       -----------    ----------- 
                                           938,855        951,850 
Other Income (Loss) 
  Realized and unrealized gains 
   (losses), net                            53,393         22,741 
  Other income (loss), net                  16,809         18,478 
                                       -----------    ----------- 
                                            70,202         41,219 
                                       -----------    ----------- 
Income before Income Taxes                 236,870        306,408 
Income tax expense (benefit)                 8,072        (11,598) 
                                       -----------    ----------- 
Net Income                                 228,798        318,006 
Noncontrolling interests in income 
 of consolidated subsidiaries                3,331          3,169 
Redeemable noncontrolling interests 
 in income of consolidated 
 subsidiaries                                3,929          3,120 
                                       -----------    ----------- 
Net Income Attributable to Rithm 
 Capital Corp.                             221,538        311,717 
Dividends on preferred stock                27,876         27,818 
                                       -----------    ----------- 
Net Income Attributable to Common 
 Stockholders                         $    193,662   $    283,899 
                                       ===========    =========== 
 
Net Income per Share of Common 
Stock 
  Basic                               $       0.36   $       0.54 
  Diluted                             $       0.35   $       0.53 
Weighted Average Number of Shares 
of Common Stock Outstanding 
  Basic                                541,835,419    530,171,540 
  Diluted                              551,295,686    537,347,700 
 
Dividends Declared per Share of 
 Common Stock                         $       0.25   $       0.25 
 
 
 
$Rithm Capital Corp(RITM-E)$. and Subsidiaries 
 Consolidated Balance Sheets 
 ($ in thousands, except share and per share data) 
 
                                      September 30, 2025    June 30, 2025 
                                          (Unaudited)        (Unaudited) 
                                     --------------------  --------------- 
Assets 
    Mortgage servicing rights and 
     mortgage servicing rights 
     financing receivables, at fair 
     value                            $        10,389,766   $   10,360,063 
    Government and 
     government-backed securities 
     ($8,538,035 and $8,844,111 at 
     fair value, respectively)                  8,562,825        8,868,879 
    Residential mortgage loans, 
     held-for-sale ($5,888,611 and 
     $4,126,335 at fair value, 
     respectively)$(A)$                           5,947,402        4,187,301 
    Residential mortgage loans, 
     held-for-investment, at fair 
     value                                        334,589          343,333 
    Consumer loans, 
     held-for-investment, at fair 
     value(A)                                     598,147          465,231 
    Residential transition loans, 
     at fair value                              2,575,354        2,497,764 
    Residential mortgage loans 
     subject to repurchase                      2,700,353        2,264,600 
    Single-family rental properties               998,116        1,002,261 
    Cash and cash equivalents(A)                1,610,958        1,600,948 
    Restricted cash(A)                            550,514          485,402 
    Servicer advances receivable                2,647,041        2,713,742 
    Other assets ($2,639,938 and 
     $2,611,330 at fair value, 
     respectively)(A)                           4,660,595        4,660,827 
    Assets of Consolidated 
    Entities(A) : 
      Investments, at fair value 
       and other assets                         5,589,734        4,865,602 
                                         ----------------      ----------- 
Total Assets                          $        47,165,394   $   44,315,953 
                                         ================      =========== 
Liabilities and Equity 
Liabilities 
    Secured financing agreements(A)   $        16,538,685   $   15,897,778 
    Secured notes and bonds payable 
     ($153,019 and $160,433 at fair 
     value, respectively)(A)                    9,545,280        9,764,857 
    Residential mortgage loan 
     repurchase liability                       2,700,353        2,264,600 
    Unsecured notes, net of 
     issuance costs                             1,417,676        1,414,497 
    Dividends payable                             169,565          160,967 
    Accrued expenses and other 
     liabilities ($634,225 and 
     $532,422 at fair value, 
     respectively)(A)                           3,112,651        2,361,386 
    Liabilities of Consolidated 
    Entities(A) : 
      Notes payable, at fair value 
       and other liabilities                    4,771,710        4,131,696 
                                         ----------------      ----------- 
Total Liabilities                              38,255,920       35,995,781 
Commitments and Contingencies 
Redeemable Noncontrolling Interests 
 of Consolidated Subsidiaries                     296,789          260,963 
Stockholders' Equity 
    Preferred stock, $0.01 par 
     value, 100,000,000 shares 
     authorized, 57,564,122 and 
     49,964,122 issued and 
     outstanding, $1,439,104 and 
     $1,249,104 aggregate 
     liquidation preference, 
     respectively                               1,390,790        1,207,254 
    Common stock, $0.01 par value, 
     2,000,000,000 shares 
     authorized, 554,196,670 and 
     530,292,171 issued and 
     outstanding, respectively                      5,542            5,303 
    Additional paid-in capital                  6,961,639        6,652,587 
    Retained earnings                              70,772           18,399 
    Accumulated other comprehensive 
     income                                        69,774           64,840 
                                         ----------------      ----------- 
Stockholders' Equity in Rithm 
 Capital Corp.                                  8,498,517        7,948,383 
    Noncontrolling interests in 
     equity of consolidated 
     subsidiaries                                 114,168          110,826 
                                         ----------------      ----------- 
Total Stockholders' Equity                      8,612,685        8,059,209 
                                         ----------------      ----------- 
Total Liabilities and Equity          $        47,165,394   $   44,315,953 
                                         ================      =========== 
 
 
(A)    The Company's consolidated balance sheets include assets and 
       liabilities of consolidated variable interest entities ("VIEs") and 
       certain other consolidated VIEs, including funds and collateralized 
       financing entities ("CFEs") that are presented separately within assets 
       and liabilities of consolidated entities. VIE assets can only be used 
       to settle obligations and liabilities of the VIEs. VIE creditors do not 
       have recourse to Rithm Capital Corp. 
 
 

NON-GAAP FINANCIAL MEASURES AND RECONCILIATION TO GAAP NET INCOME

The Company has four primary variables that impact its performance: (i) net interest margin on assets held within the investment portfolio; (ii) realized and unrealized gains or losses on assets held within the investment portfolio and operating companies, including any impairment or reserve for expected credit losses; (iii) income from the Company's operating company investments; and (iv) the Company's operating expenses and taxes.

"Earnings available for distribution" is a non-GAAP financial measure of the Company's operating performance, which is used by management to evaluate the Company's performance, excluding: (i) net realized and unrealized gains and losses on certain assets and liabilities; (ii) net other income and losses; (iii) non-capitalized transaction-related expenses; and (iv) deferred taxes.

The Company's definition of earnings available for distribution excludes certain realized and unrealized losses, which although they represent a part of the Company's recurring operations, are subject to significant variability and are generally limited to a potential indicator of future economic performance. Within net other income and losses, management primarily excludes (i) equity-based compensation expenses, (ii) non-cash deferred interest expense and (iii) amortization expense related to intangible assets, as management does not consider this non-cash activity to be a component of earnings available for distribution. With regard to non-capitalized transaction-related expenses, management does not view these costs as part of the Company's core operations, as they are considered by management to be similar to realized losses incurred at acquisition. Non-capitalized transaction related expenses generally relate to legal and valuation service costs, as well as other professional service fees, incurred when the Company acquires certain investments, as well as costs associated with the acquisition and integration of acquired businesses. Management also excludes deferred taxes because the Company believes deferred taxes are not representative of current operations.

Management believes that the adjustments to compute "earnings available for distribution" specified above allow investors and analysts to readily identify and track the operating performance of the assets that form the core of the Company's activity, assist in comparing the core operating results between periods and enable investors to evaluate the Company's current core performance using the same financial measure that management uses to operate the business. Management also utilizes earnings available for distribution as a financial measure in its decision-making process relating to improvements to the underlying fundamental operations of the Company's investments, as well as the allocation of resources between those investments, and management also relies on earnings available for distribution as an indicator of the results of such decisions. Earnings available for distribution excludes certain recurring items, such as gains and losses (including impairment and reserves as well as derivative activities) and non-capitalized transaction-related expenses, because they are not considered by management to be part of the Company's core operations for the reasons described herein. As such, earnings available for distribution is not intended to reflect all of the Company's activity and should be considered as only one of the factors used by management in assessing the Company's performance, along with GAAP net income which is inclusive of all of the Company's activities.

The Company views earnings available for distribution as a consistent financial measure of its portfolio's ability to generate income for distribution to common stockholders. Earnings available for distribution does not represent and should not be considered as a substitute for, or superior to, net income or as a substitute for, or superior to, cash flows from operating activities, each as determined in accordance with GAAP, and the Company's calculation of this financial measure may not be comparable to similarly entitled financial measures reported by other companies. Furthermore, to maintain qualification as a REIT, U.S. federal income tax law generally requires that the Company distribute at least 90% of its REIT taxable income annually, determined without regard to the deduction for dividends paid and excluding net capital gains. Because the Company views earnings available for distribution as a consistent financial measure of its ability to generate income for distribution to common stockholders, earnings available for distribution is one metric, but not the exclusive metric, that the Company's board of directors uses to determine the amount, if any, and the payment date of dividends on common stock. However, earnings available for distribution should not be considered as an indication of the Company's taxable income, a guaranty of its ability to pay dividends or as a proxy for the amount of dividends it may pay, as earnings available for distribution excludes certain items that impact its cash needs.

Reconciliation of Non-GAAP Measure to the Respective GAAP Measure

The table below provides a reconciliation of earnings available for distribution to the most directly comparable GAAP financial measure (dollars in thousands, except share and per share data):

 
                                               Three Months Ended 
                                        -------------------------------- 
                                         September 30,      June 30, 
                                              2025             2025 
                                        ---------------  --------------- 
  Net income (loss) attributable to 
   common stockholders - GAAP            $      193,662  $    283,899 
  Adjustments: 
     Realized and unrealized (gains) 
      losses, net, including MSR 
      change in valuation inputs and 
      assumptions                                44,364       (16,931) 
     Other (income) loss, net                    43,248        35,493 
     Non-capitalized 
      transaction-related expenses 
      (reimbursements)                           11,735         2,536 
     Deferred taxes                               3,883       (13,854) 
                                            -----------   ----------- 
  Earnings available for distribution 
   - Non-GAAP                            $      296,892  $    291,143 
                                            ===========   =========== 
 
  Net income (loss) per diluted share    $         0.35  $       0.53 
  Earnings available for distribution 
   per diluted share                     $         0.54  $       0.54 
 
  Weighted average number of shares of 
   common stock outstanding, diluted        551,295,686   537,347,700 
 
 
 
SEGMENT INFORMATION 
 ($ in thousands) 
 
                           Origination                  Residential 
Third Quarter Ended            and       Investment    Transitional      Asset      Corporate 
September 30, 2025           Servicing    Portfolio       Lending      Management    Category        Total 
------------------------   ------------  -----------  ---------------  ----------  ------------  -------------- 
  Servicing fee revenue, 
   net and interest 
   income from MSRs and 
   MSR financing 
   receivables             $   579,281   $        --   $          --   $       --  $        --   $   579,281 
  Change in fair value of 
   MSRs and MSR financing 
   receivables, net of 
   economic hedges 
   (includes realization 
   of cash flows of 
   $(189,881))                (264,351)           --              --           --           --      (264,351) 
                            ----------    ----------      ----------    ---------   ----------    ---------- 
Servicing revenue, net         314,930            --              --           --           --       314,930 
Interest income                309,878        52,480          77,606       10,601        3,221       453,786 
Gain on originated 
 residential mortgage 
 loans, held-for-sale, 
 net                           182,446        13,862              --           --           --       196,308 
Other revenues                  28,946        26,682              --           --           --        55,628 
Asset management revenues           --            --              --       84,871           --        84,871 
                            ----------    ----------      ----------    ---------   ----------    ---------- 
  Total Revenues               836,200        93,024          77,606       95,472        3,221     1,105,523 
Interest expense and 
 warehouse line fees           254,253        78,767          36,785        6,181       26,704       402,690 
Other segment expenses         141,525        19,248           5,112       26,926       21,151       213,962 
Compensation and benefits      198,213         1,032          15,805       65,590       18,433       299,073 
Depreciation and 
 amortization                    6,342         7,429           1,936        7,423           --        23,130 
                            ----------    ----------      ----------    ---------   ----------    ---------- 
  Total Operating 
   Expenses                    600,333       106,476          59,638      106,120       66,288       938,855 
Realized and unrealized 
 gains (losses), net                --        43,620           3,145        6,628           --        53,393 
Other income (loss), net        (1,756)        7,433             138       10,987            7        16,809 
                            ----------    ----------      ----------    ---------   ----------    ---------- 
  Total Other Income 
   (Loss)                       (1,756)       51,053           3,283       17,615            7        70,202 
                            ----------    ----------      ----------    ---------   ----------    ---------- 
  Income (Loss) before 
   Income Taxes                234,111        37,601          21,251        6,967      (63,060)      236,870 
Income tax expense 
 (benefit)                       7,754             3            (627)         942           --         8,072 
                            ----------    ----------      ----------    ---------   ----------    ---------- 
  Net Income (Loss)            226,357        37,598          21,878        6,025      (63,060)      228,798 
Noncontrolling interests 
 in income (loss) of 
 consolidated 
 subsidiaries                      916         1,454              --          961           --         3,331 
Redeemable noncontrolling 
 interests in income of 
 consolidated 
 subsidiaries                       --            --              --        1,309        2,620         3,929 
                            ----------    ----------      ----------    ---------   ----------    ---------- 
  Net Income (Loss) 
   Attributable to Rithm 
   Capital Corp.               225,441        36,144          21,878        3,755      (65,680)      221,538 
Dividends on preferred 
 stock                              --            --              --           --       27,876        27,876 
                            ----------    ----------      ----------    ---------   ----------    ---------- 
  Net Income (Loss) 
   Attributable to Common 
   Stockholders            $   225,441   $    36,144   $      21,878   $    3,755  $   (93,556)  $   193,662 
                            ==========    ==========      ==========    =========   ==========    ========== 
 
Total Assets               $29,143,691   $10,741,474   $   3,944,081   $2,835,646  $   500,502   $47,165,394 
Stockholders' Equity in 
 Rithm Capital Corp.       $ 6,180,238   $ 1,739,359   $     941,029   $  924,367  $(1,286,476)  $ 8,498,517 
-------------------------   ----------    ----------      ----------    ---------   ----------    ---------- 
 
 
 
                           Origination                  Residential 
Second Quarter Ended           and       Investment    Transitional       Asset      Corporate 
June 30, 2025                Servicing    Portfolio       Lending       Management    Category        Total 
------------------------   ------------  -----------  ---------------  -----------  ------------  -------------- 
  Servicing fee revenue, 
   net and interest 
   income from MSRs and 
   MSR financing 
   receivables             $   574,817   $       --    $          --   $       --   $        --   $   574,817 
  Change in fair value of 
   MSRs and MSR financing 
   receivables, net of 
   economic hedges 
   (includes realization 
   of cash flows of 
   $(176,680))                (155,005)          --               --           --            --      (155,005) 
                            ----------    ---------       ----------    ---------    ----------    ---------- 
Servicing revenue, net         419,812           --               --           --            --       419,812 
Interest income                309,940       82,143           75,405        7,841         3,126       478,455 
Gain on originated 
 residential mortgage 
 loans, held-for-sale, 
 net                           168,438        1,260               --           --            --       169,698 
Other revenues                  27,439       26,627               --           --            --        54,066 
Asset management revenues           --           --               --       95,008            --        95,008 
                            ----------    ---------       ----------    ---------    ----------    ---------- 
  Total Revenues               925,629      110,030           75,405      102,849         3,126     1,217,039 
Interest expense and 
 warehouse line fees           283,616       69,904           33,620        8,710        22,018       417,868 
Other segment expenses         146,989       22,162            5,234       26,487        14,909       215,781 
Compensation and benefits      190,169        1,004           15,308       67,401        20,525       294,407 
Depreciation and 
 amortization                    6,281        7,849            2,289        7,348            27        23,794 
                            ----------    ---------       ----------    ---------    ----------    ---------- 
  Total Operating 
   Expenses                    627,055      100,919           56,451      109,946        57,479       951,850 
Realized and unrealized 
 gains (losses), net                --       16,177            6,809          416          (661)       22,741 
Other income (loss), net         6,435        8,841             (713)       5,124        (1,209)       18,478 
                            ----------    ---------       ----------    ---------    ----------    ---------- 
  Total Other Income 
   (Loss)                        6,435       25,018            6,096        5,540        (1,870)       41,219 
                            ----------    ---------       ----------    ---------    ----------    ---------- 
  Income (Loss) before 
   Income Taxes                305,009       34,129           25,050       (1,557)      (56,223)      306,408 
Income tax expense 
 (benefit)                     (11,647)      (1,507)             330        1,226            --       (11,598) 
                            ----------    ---------       ----------    ---------    ----------    ---------- 
  Net Income (Loss)            316,656       35,636           24,720       (2,783)      (56,223)      318,006 
Noncontrolling interests 
 in income (loss) of 
 consolidated 
 subsidiaries                      981        1,533               --          655            --         3,169 
Redeemable noncontrolling 
 interest in income of 
 consolidated subsidiary            --           --               --          561         2,559         3,120 
                            ----------    ---------       ----------    ---------    ----------    ---------- 
  Net Income (Loss) 
   Attributable to Rithm 
   Capital Corp.               315,675       34,103           24,720       (3,999)      (58,782)      311,717 
Dividends on preferred 
 stock                              --           --               --           --        27,818        27,818 
                            ----------    ---------       ----------    ---------    ----------    ---------- 
  Net Income (Loss) 
   Attributable to Common 
   Stockholders            $   315,675   $   34,103    $      24,720   $   (3,999)  $   (86,600)  $   283,899 
                            ==========    =========       ==========    =========    ==========    ========== 
 
Total Assets               $28,608,834   $8,858,316    $   3,787,813   $2,470,718   $   590,272   $44,315,953 
Stockholders' Equity in 
 Rithm Capital Corp.       $ 5,822,508   $1,551,666    $     820,746   $  895,407   $(1,141,944)  $ 7,948,383 
-------------------------   ----------    ---------       ----------    ---------    ----------    ---------- 
 
 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information in this press release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts. They represent management's current expectations regarding future events and are subject to a number of trends and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those described in the forward-looking statements. Accordingly, you should not place undue reliance on any forward-looking statements contained herein. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled "Cautionary Statement Regarding Forward Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's most recent annual and quarterly reports and other filings filed with the U.S. Securities and Exchange Commission, which are available on the Company's website (www.rithmcap.com). New risks and uncertainties emerge from time to time, and it is not possible for Rithm Capital to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Forward-looking statements contained herein speak only as of the date of this press release, and Rithm Capital expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Rithm Capital's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

ABOUT RITHM CAPITAL

Rithm Capital Corp. is a global, multi-dimensional asset manager with significant experience managing credit and real estate assets. The firm combines deep institutional expertise with an entrepreneurial culture that drives innovation and disciplined growth across multiple market segments. Rithm's integrated investment platform spans residential and commercial lending, MSRs and structured credit. Through subsidiaries such as Newrez, Genesis Capital and Sculptor Capital Management, Rithm has established a unique owner-operator model, capable of sourcing, financing and actively managing debt and equity investments, to drive value for shareholders and fund investors.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251030529153/en/

 
    CONTACT:    Investor Relations 

212-850-7770

ir@rithmcap.com

 
 

(END) Dow Jones Newswires

October 30, 2025 06:55 ET (10:55 GMT)

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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