Redwood Trust (RWT) Beats Q2 Earnings Estimates

Core Viewpoint - Redwood Trust (RWT) reported quarterly earnings of $0.13 per share, exceeding the Zacks Consensus Estimate of $0.12 per share, but down from $0.14 per share a year ago, indicating an earnings surprise of 8.33% [1][2] Financial Performance - The company posted revenues of $25.3 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 10.05%, compared to $26 million in the same quarter last year [2] - Over the last four quarters, Redwood Trust has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2] Stock Performance - Redwood Trust shares have declined approximately 1.9% since the beginning of the year, while the S&P 500 has gained 15.8% [3] - The current Zacks Rank for Redwood Trust is 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.14 on revenues of $27.96 million, and for the current fiscal year, it is $0.49 on revenues of $110.38 million [7] - The trend of estimate revisions for Redwood Trust is mixed, which could change following the recent earnings report [6] Industry Context - The REIT and Equity Trust industry, to which Redwood Trust belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]