Rithm Capital Corp. — Third Quarter 2026 Earnings Summary

Financial Performance:

• GAAP net income was $217.1 million ($0.38 per diluted share), compared to $20.2 million ($0.04 per diluted share) in Q2 2026.
• Earnings available for distribution (non-GAAP) were $315.3 million ($0.55 per diluted share), down from $338.9 million ($0.60 per diluted share) in Q2 2026.
• Total revenue was $1.76 billion, up from $1.28 billion in Q2 2026.
• Net income attributable to common stockholders was $217.1 million, compared to $20.2 million in Q2 2026.
• Book value per common share was $12.51.
• Total assets were $56.66 billion as of September 30, 2026, up from $54.11 billion as of June 30, 2026.
• Total liabilities were $47.12 billion as of September 30, 2026, up from $44.66 billion as of June 30, 2026.
• Stockholders' equity in Rithm Capital Corp. was $8.62 billion as of September 30, 2026, up from $8.52 billion as of June 30, 2026.
• Common dividend declared was $139.6 million ($0.25 per share), consistent with Q2 2026.

Business Segments and Product Lines:

• Asset Management: Assets under management (AUM) were approximately $61 billion as of September 30, 2026, consistent with Q2 2026. Gross new capital and fund commitment inflows were $569 million in Q3 2026, bringing year-to-date gross inflows to $2.9 billion.
• Commercial Real Estate (Elecor): Year-to-date leasing activity reached 1.0 million square feet. Rents achieved were 22% higher across the portfolio compared to FY 2025. The company closed a joint venture for 1301 Avenue of the Americas and completed a $515 million refinancing of 31 West 52nd Street.
• Residential Transitional Lending (Genesis): Origination volume was $1.5 billion in Q3 2026, a 25% year-over-year increase. New sponsors funded increased by 74% year-over-year to 125. The company completed its inaugural $375 million securitization collateralized entirely by multifamily residential transition loans (RTLs).
• Origination & Servicing (Newrez): Pre-tax operating income was $329.7 million in Q3 2026, excluding MSRs mark-to-market gains/losses and other non-operating items, up from $307.6 million in Q2 2026. Annualized operating return on equity (ROE) was 24% on $5.5 billion of average segment equity. Total servicing unpaid principal balance (UPB) reached $878.9 billion. Origination funded production volume was $12.9 billion, a 19% decrease quarter-over-quarter and a 21% decrease year-over-year.
• Investment Portfolio: Purchased $1.6 billion in UPB of non-qualified mortgage (NQM) loans. Completed two NQM securitizations totaling $975 million in UPB. Acquired $521 million in home improvement loans under a forward flow agreement with Upgrade, Inc., bringing total purchases to $1.5 billion. Amended the Upgrade agreement to allow for an additional $1.2 billion in UPB purchases. Completed a $306 million securitization of home improvement loans.

Other Key Points:

• Management highlighted disciplined execution, scaling the asset management business, and strong performance across operating companies including Newrez, Genesis, and Elecor.
• The company announced a conference call for October 23, 2026, at 8:00 A.M. Eastern Time to review results.
• AUM calculation methodology was revised effective July 1, 2026, to include assets subject to real estate asset management services and exclude certain other assets; prior periods were conformed with no impact on reported AUM.
• Earnings available for distribution is a non-GAAP measure used to evaluate core operating performance, excluding certain realized/unrealized gains/losses, depreciation, transaction expenses, and deferred taxes.