Rithm Capital (RITM) Q3 FY2023 earnings: revenue $1.1 billion, up 24.7% on the year

Rithm Capital Corp. (RITM) reported revenue of $1.1 billion for Q3 FY2023, the quarter ended 30 September 2023, up 24.7% on the same quarter a year earlier. Net income was $194 million, up 55.8% on the year, and diluted earnings per share $0.40. The figures are the company's own, from the 10-Q it filed with the SEC on 1 November 2023.

Revenue$1.1 billionup 24.7%

Net income$194 millionup 55.8%

Diluted EPS$0.40

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	1,135	n/a	n/a	n/a
Operating income	381	n/a	n/a	n/a
Operating margin	33.6%	n/a	n/a
Interest expense	383	n/a	n/a	n/a
Pre-tax income	274	n/a	n/a	n/a
Income tax	52.6	n/a	n/a	n/a
Effective tax rate	19.2%	n/a	n/a
Net income	194	n/a	n/a	n/a
Net margin	17.1%	n/a	n/a
Diluted EPS	$0.40	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	435	n/a	n/a	n/a
Cash from investing	-627	n/a	n/a	n/a
Cash from financing	88.9	n/a	n/a	n/a
Share-based compensation	3.4	n/a	n/a	n/a
Dividends paid	143	n/a	n/a	n/a
Dividend per share	$0.25	n/a	n/a	n/a
Diluted shares, weighted	484m	n/a	n/a	n/a
Shares outstanding at period end	483m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	7,208	n/a	n/a	n/a
Non-controlling interest	59.9	n/a	n/a	n/a
Debt	24,117	n/a	n/a	n/a
Other liabilities	3,361	n/a	n/a	n/a
Total liabilities and equity	34,746	n/a	n/a	n/a
Fixed assets	26.8	n/a	n/a	n/a
Goodwill	85.2	n/a	n/a	n/a
Intangible assets	123	n/a	n/a	n/a
Securities held for sale or to maturity	9,201	n/a	n/a	n/a
Cash and equivalents	1,217	n/a	n/a	n/a
Other assets	24,091	n/a	n/a	n/a
Total assets	34,746	n/a	n/a	n/a

Questions

What was Rithm Capital's revenue in Q3 FY2023?

Rithm Capital (RITM) reported revenue of $1.1 billion for Q3 FY2023, the quarter ended 30 September 2023, up 24.7% on the same quarter a year earlier.

How much did Rithm Capital earn in Q3 FY2023?

Net income for Q3 FY2023 was $194 million, up 55.8% on the year, and diluted earnings per share $0.40.

When did Rithm Capital report Q3 FY2023 results?

Rithm Capital filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 1 November 2023.

Quarterly results, the last 12 quarters

	Q3 FY2023 †	Q4 FY2023	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 * †	Q1 FY2025 †	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,135	692	1,261	1,155	999	2,071	977	1,217	1,106	n/a	1,380	1,282
Operating income	381	-119	410	205	8.3	n/a	48.9	265	167	n/a	143	6.8
Operating margin	34%	-17%	33%	18%	1%	n/a	5%	22%	15%	n/a	10%	1%
Interest expense	383	400	414	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	274	-37.3	381	290	45.1	493	56.8	306	237	n/a	154	86.9
Tax rate	19%	n/a	25%	18%	-174%	41%	-42%	-4%	3%	n/a	29%	22%
Net income	194	-87.5	284	236	122	290	78.8	312	222	n/a	103	56.3
Net margin	17%	-13%	23%	20%	12%	14%	8%	26%	20%	n/a	7%	4%
Diluted EPS	$0.40	-$0.18	$0.54	$0.43	$0.20	$0.50	$0.07	$0.53	$0.35	n/a	$0.12	$0.04
Operating cash flow	435	-566	-1,144	-55.7	768	-1,753	1,421	-557	-2,042	n/a	101	174
Dividends paid	143	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	483m	483m	483m	490m	520m	521m	530m	530m	554m	556m	558m	558m
Filing	10-Q	10-K/A	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A fourth quarter left blank is one the arithmetic cannot give yet: the annual report changed the basis of the year (a business sold or spun off, a line regrouped), so the year less the three quarters as first filed would not be a quarter of anything. It fills in once the three quarters have been refiled on the new basis. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 1 November 2023, accession 0001556593-23-000031: the filing on EDGAR. All of Rithm Capital Corp.'s filings: EDGAR company page.

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