Rithm Capital Corp. (NYSE: RITM) reported first‑quarter 2026 results that surpassed consensus expectations, with revenue of $1.38 billion and GAAP diluted earnings per share of $0.12. The company’s non‑GAAP metric, Earnings Available for Distribution (EAD), reached $0.51 per diluted share, a beat of the consensus estimate of $0.50–$0.5071.
The revenue figure represented a $0.13 billion, or roughly 10%, increase over the analyst consensus of $1.25–$1.27 billion. The GAAP net income of $67.8 million translated to $0.12 per diluted share, while the EAD figure of $0.51 per diluted share exceeded the consensus estimate by $0.01–$0.02.
Compared with the prior quarter, Rithm’s EAD fell from $0.74 in Q4 2025 to $0.51 in Q1 2026, and GAAP diluted EPS dropped from $0.09 to $0.12. Year‑over‑year, the company’s EAD rose from $0.52 in Q1 2025 to $0.51 in Q1 2026, and GAAP EPS increased from $0.07 to $0.12, reflecting a modest improvement in profitability.
Segment performance drove the results: Newrez’s pre‑tax operating income climbed to $273.7 million from $249.1 million in Q4 2025, while Genesis Capital’s origination volume grew 80% year‑over‑year to $1.6 billion. The asset‑management platform expanded its assets under management to $59 billion from $35 billion in Q1 2025, supporting the company’s diversified growth strategy.
"Despite a challenging and volatile market environment, Rithm delivered strong Q1 results, with Newrez generating a 19% annualized operating ROE, Genesis posting 80% year‑over‑year origination growth, and our asset management platform growing to approximately $60 billion in AUM," said CEO Michael Nierenberg. "Our diversified owner‑operator model is built to perform through disruption, and we are confident the current conditions create compelling opportunities to drive long‑term value for our shareholders."
Investors responded favorably to the earnings, citing the revenue beat and the strong performance across Newrez, Genesis Capital, and the asset‑management platform as key drivers of the positive market reaction.
The results reinforce Rithm Capital’s strategy of expanding its asset‑management platform while maintaining a robust mortgage servicing and origination business, positioning the company for continued growth in a volatile market environment.
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