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Mar 31, 2022
NRZ Q1 2022 Earnings Report
New Residential's performance in Q1 2022 demonstrated strength and balance, generating a ~5% total shareholder return and growing book value by ~10% to $12.56 per share.
Key Takeaways
New Residential Investment Corp. reported a GAAP net income of $661.9 million, or $1.37 per diluted common share, and core earnings of $177.4 million, or $0.37 per diluted common share for the first quarter ended March 31, 2022. The company's book value per common share grew to $12.56.
GAAP net income of $661.9 million, or $1.37 per diluted common share.
Core earnings of $177.4 million, or $0.37 per diluted common share.
Common dividend of $116.7 million, or $0.25 per common share.
Book value per common share of $12.56.
Revenue by Segment
Forward Guidance
New Residential expects book value growth to continue in the second quarter given the upward move in treasury yields and the Fed’s expected policy actions. With $1.7 billion of cash and liquidity coupled with the expected market volatility ahead, New Residential anticipates terrific opportunities to deploy capital effectively and generate great returns for shareholders in 2022 and beyond.
Positive Outlook
- Continued book value growth in Q2 expected due to treasury yields and Fed actions.
- Strong cash position of $1.7 billion.
- Expected market volatility will create opportunities for capital deployment.
- Anticipated strong returns for shareholders in 2022 and beyond.
- Effective capital deployment.
Challenges Ahead
- Market volatility.
- Uncertainty of treasury yields.
- Dependence on Fed policy actions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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