EarningsQ2 2026 Earnings Report
MX:RITM Q2 2026 EPS Results
Actual EPS$10.19
Consensus EPS$8.44
Beat/MissBeat by +$1.75
One Year Ago EPS$9.17
MX:RITM Q2 2026 Revenue Results
Actual Revenue$26.56B
Expected Revenue$24.22B
Beat/MissBeat by +$2.34B
YoY Revenue Growth+26.72%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeBefore Open
Conference CallTuesday, July 28, 2026
MX:RITM Upcoming Earnings
Rithm Capital's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:RITM Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational and performance-oriented message: strong quarter-to-date results across asset management, mortgage origination/servicing (Newrez) and Genesis originations, meaningful AUM growth, improving real estate leasing and identified cost efficiencies. Management signaled cautious capital deployment on MSRs and acknowledged market volatility, compressed selling margins in origination, and some geographic leasing variability (San Francisco). Overall, the positives (scale expansion, solid earnings, efficiency wins, asset-level leasing gains and liquidity) materially outweigh the operational and market risks called out.Company Guidance
Scale of Platform and AUM Growth
Rithm now manages >$100 billion in investable assets (including balance sheet and third-party) with third-party AUM north of $60 billion. AUM has grown at a reported ~28% CAGR and management believes third-party AUM can meaningfully expand over the next 12–24 months.
Strong Asset Management Performance
Sculptor's multi-strat fund delivered approximately +8% net return year-to-date and a reported 3-year return of ~12.3%. Management emphasizes performance-led fundraising and noted increasing gross inflows across multi-strat, ABF, direct lending and real estate credit.
Newrez Operating Results and Efficiency Initiatives
Newrez reported Q2 pretax income (excluding mark-to-market) of ~$308 million, up ~12% quarter-over-quarter, producing a ~22% ROE for the quarter. Funded originations were $15.9 billion (up ~1% Q/Q). Servicing growth included 8 new third-party clients and $27 billion in new loan boardings. Transition to Valon expected to deliver >$65 million annual expense savings (approx. 21% reduction in cost per loan to $93).
Genesis Capital Origination Growth and Profitability
Genesis produced $1.9 billion in originations in the quarter (vs ~ $1.7B annual run-rate at acquisition in 2022). Quarter pretax income was ~$42 million (compared to ~$47 million annual pretax in 2022), with quarter-over-quarter pretax income up ~26% and annualized operating ROE ~17%. Portfolio composition remains conservative (construction ~50%, bridge ~34%, renovation ~12%) with LTV metrics reported around 63% loan-to-after-repaired-value and ~68% loan-to-value.
Elecor Real Estate Leasing Momentum and Value Creation
Elecor's core portfolio (10 assets, 9.9M sq ft; ~7M sq ft in NYC, remainder in SF) was ~86.5% leased with average in-place rent ~$90/sq ft and WALT ~8.3 years. YTD leasing and pending leases exceeded 681,000 sq ft at an average initial rent of ~$100/sq ft (reported +21.4% vs 2025 transactions). New York core leased occupancy ~91.6% with YTD initial rents +32% vs 2025; San Francisco leased occupancy improved to ~64.9% (up ~6% Q/Q).
Balance Sheet Liquidity and Investment Activity
Rithm ended Q2 with ~$2.1 billion of cash and liquidity. First half 2026 activity included ~$6.6 billion in residential investments and ~$3.7 billion in securitizations, with the investment portfolio achieving an annual ROE of ~15%. The firm completed a ~$283 million CMBS financing and closed a ~$300 million home-improvement securitization.
Identified and Realized Operational Efficiencies
Elecor management identified and implemented approximately $44 million of operating efficiencies at the management company level. Newrez reported cost-per-loan metrics materially below industry averages (current ~1/3 below; forecast to be ~50% below post-integrations).
Reported Earnings Available for Distribution and Core Run-Rate
Reported EAD for the quarter was ~$338.9 million. Management indicated a core EAD run-rate around $0.50 per share when stripping one-time incentive recognition and hedge-related items.
MX:RITM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed