Rithm Capital Corp (NYSE:RITM)
$ 11.23 -0.050 (-0.44%) Market Cap: 5.95 Bil Enterprise Value: 38.45 Bil PE Ratio: 9.36 PB Ratio: 0.91 GF Score: 59/100
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Q4 2024 Rithm Capital Corp Earnings Call Transcript

Feb 06, 2025 / 01:00PM GMT
Release Date Price: $11.91 (+3.66%)

Key Points

Positve
  • Rithm Capital Corp (RITM) reported a strong fourth quarter and full year 2024, with significant earnings growth and a robust balance sheet.
  • The company has successfully expanded its asset management business, notably through the acquisition of Sculptor, which has shown excellent performance.
  • Rithm Capital Corp (RITM) has a diversified product offering across various asset classes, including real estate and credit, which positions it well for future growth.
  • The company is planning to launch a global energy infrastructure platform, which could provide new growth opportunities.
  • Newrez, a subsidiary of Rithm Capital Corp (RITM), delivered strong financial performance with significant growth in servicing and origination volumes.
Negative
  • Rithm Capital Corp (RITM) acknowledges that its equity is undervalued, trading below its perceived intrinsic value.
  • The company is still evaluating changes to its capital structure, which could impact its operations and shareholder value.
  • There is uncertainty regarding the potential listing of Newrez, with no definitive timeline provided.
  • The company faces competitive pressures in the non-QM and home equity loan markets, which could impact its market share.
  • Rithm Capital Corp (RITM) is operating in a challenging macroeconomic environment with elevated interest rates and affordability issues affecting the housing market.
Operator

Good day, and welcome to the Rithm Capital fourth quarter and full year 2024 earnings call. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Emma Bolla, Associate General Counsel. Please go ahead.

Emma Bolla
Rithm Capital Corp - Associate General Counsel

Thank you, and good morning, everyone. I would like to thank you for joining us today for Rithm Capital's fourth quarter and full year '24 earnings call. Joining me today are Michael Nierenberg, Chairman, CEO, and President of Rithm Capital; Nick Santoro, Chief Financial Officer of Rithm Capital; and Baron Silverstein, President of Newrez.

Throughout the call, we are going to reference the earnings supplement that was posted this morning to the Rithm Capital website, www.rithmcap.com. If you've not already done so, I'd encourage you to download the presentation now. I would like to point out that certain statements made today will be forward-looking statements.

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