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Dec 31, 2023
Redwood Trust Q4 2023 Earnings Report
Reported financial results for the quarter ended December 31, 2023.
Key Takeaways
Redwood Trust reported a GAAP net income available to common stockholders of $19 million, or $0.15 per diluted common share, and non-GAAP Earnings Available for Distribution (EAD) of $7 million, or $0.05 per basic common share. The company's GAAP book value per common share was $8.64 at December 31, 2023, a 1.5% decrease from the previous quarter. Redwood's recourse leverage ratio was 2.2x at the end of the quarter.
GAAP book value per common share was $8.64, a 1.5% decrease from the prior quarter, with an economic return on book value of 0.3%.
GAAP net income available to common stockholders was $19 million, or $0.15 per diluted common share.
Non-GAAP Earnings Available for Distribution (EAD) was $7 million, or $0.05 per basic common share.
Recourse leverage ratio was 2.2x at December 31, 2023.
Forward Guidance
With the work we completed across 2023 to bolster our capital base, we expect 2024 to be foundational to our long-term success as we expand our partnerships and distribution channels, and set Redwood on a course for earnings growth and stability in the quarters and years ahead.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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