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NRZ
🇺🇸 NYSE:RITM
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Sep 30, 2020

NRZ Q3 2020 Earnings Report

New Residential Investment Corp. reported a strong third quarter, driven by solid earnings in Origination and Servicing segments.

Key Takeaways

New Residential Investment Corp. reported a GAAP net income of $77.9 million, or $0.19 per diluted common share, and core earnings of $131.6 million, or $0.31 per diluted common share. The company's Origination and Servicing segments delivered over $340 million in pre-tax earnings.

GAAP Net Income of $77.9 million, or $0.19 per diluted common share.

Core Earnings of $131.6 million, or $0.31 per diluted common share.

Common Dividend of $62.4 million, or $0.15 per common share.

The servicing portfolio grew to $287.2 billion in UPB.

Total Revenue
$103M
Previous year: $202M
-48.9%
EPS
$0.31
Previous year: $0.5
-38.0%
Origination UPB
$18.1B
Servicing Portfolio UPB
$287B
Gross Profit
$527M
Previous year: $481M
+9.5%
Cash and Equivalents
$841M
Previous year: $738M
+13.9%
Total Assets
$30.4B
Previous year: $41.3B
-26.5%

NRZ

NRZ

Forward Guidance

New Residential believes its investment portfolio is well positioned and intends to maintain high levels of cash to deploy opportunistically. Heading into the end of the year, the company is confident in its ability to grow book value and generate earnings for shareholders.

Positive Outlook

  • MSR portfolio stands to benefit as rates rise and multiples improve
  • Maintain high levels of cash to deploy opportunistically
  • Ability to grow book value
  • Ability to generate earnings for our shareholders
  • Annualized savings of approximately $50 million from all Q3’20 refinancing activity

Company Overview

Full financial data and analysis

View NRZ