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Jun 30, 2020
NRZ Q2 2020 Earnings Report
New Residential Investment Corp. reported results for the second quarter of 2020, demonstrating recovery and strategic progress amidst the COVID-19 pandemic.
Key Takeaways
New Residential Investment Corp. reported a GAAP net loss of $8.9 million, or $0.02 per diluted common share, but achieved core earnings of $140.2 million, or $0.34 per diluted common share. The company grew its servicing portfolio and maintained over $1 billion in cash, while making strides in its origination and servicing businesses.
GAAP Net Loss of ($8.9) million, or ($0.02) per diluted common share.
Core Earnings of $140.2 million, or $0.34 per diluted common share.
Common Dividend of $41.6 million, or $0.10 per common share.
Cash of $1,013.2 million as of June 30, 2020
Forward Guidance
The company will focus on growing operating businesses and prudently deploying capital in a low rate environment. Executing this strategy is expected to grow book value and create strong earnings for shareholders in the near and long term.
Positive Outlook
- Growing operating businesses
- Prudently deploying capital in a low rate environment
- Growing book value
- Creating strong earnings for shareholders in the near term
- Creating strong earnings for shareholders in the long term
Challenges Ahead
- Exposure to the ongoing COVID-19 pandemic
- Uncertainties in the mortgage and financial services industry
- Potential mark to market exposure
- Risks related to interest rate environments
Historical Earnings Impact
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Avg. Return Before/After Earnings
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