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Dec 31, 2022
Redwood Trust Q4 2022 Earnings Report
Reported financial results for the fourth quarter ended December 31, 2022.
Key Takeaways
Redwood Trust reported a challenging fourth quarter due to historic dislocations, resulting in a GAAP net loss of $(0.40) per diluted common share and Non-GAAP Earnings Available for Distribution (EAD) of $(0.11) per basic common share. However, the company is optimistic about 2023, citing strategic initiatives and a strong liquidity position.
GAAP book value per common share was $9.55 at December 31, 2022, a 6.2% decrease from $10.18 per share at September 30, 2022.
GAAP net loss of $(0.40) per diluted common share, with $(0.21) per share attributable to net fair value changes on long-term investments.
Non-GAAP Earnings Available for Distribution (EAD) of $(0.11) per basic common share.
Unrestricted cash and cash equivalents of $259 million and unencumbered assets of $314 million at December 31, 2022.
Forward Guidance
Redwood Trust anticipates lower G&A expenses in 2023 due to expense reduction initiatives.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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