Workflow
Redwood Trust (RWT) Reports Q2 Earnings: What Key Metrics Have to Say
Redwood TrustRedwood Trust(US:RWT) ZACKSยท2024-08-01 15:07

Core Viewpoint - Redwood Trust reported a revenue of $25.3 million for the quarter ended June 2024, reflecting a year-over-year decline of 2.7% and a negative surprise of 10.05% compared to the Zacks Consensus Estimate of $28.13 million [1] Financial Performance Metrics - Earnings per share (EPS) for the quarter was $0.13, compared to $0.14 a year ago, with an EPS surprise of 8.33% against the consensus estimate of $0.12 [1] - Net interest income was reported at $25.30 million, falling short of the average estimate of $28.13 million from five analysts [3] - Total non-interest income was $42.20 million, exceeding the average estimate of $31.17 million from five analysts [4] - Residential Investor Mortgage Banking Activities netted $1.50 million, significantly below the average estimate of $9.39 million from five analysts [4] - Residential Consumer Mortgage Banking Activities generated $11.20 million, slightly below the average estimate of $11.60 million from five analysts [4] - Other income was reported at $6.30 million, surpassing the average estimate of $4.51 million from four analysts [5] - Investment fair value changes netted $1.10 million, compared to the average estimate of $4.58 million from three analysts [6] Stock Performance - Over the past month, shares of Redwood Trust have returned +12.7%, outperforming the Zacks S&P 500 composite's +1.1% change [6] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [6]