Redwood Trust | 10-Q: FY2025 Q3 Revenue: USD 338.91 M

LB filings
2025.11.07 21:36
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Revenue: As of FY2025 Q3, the actual value is USD 338.91 M.

EPS: As of FY2025 Q3, the actual value is USD -0.08, missing the estimate of USD 0.1668.

EBIT: As of FY2025 Q3, the actual value is USD -16.35 M.

Sequoia Mortgage Banking

  • Interest Income: $116.6 million for the nine months ended September 30, 2025.
  • Interest Expense: - $61.5 million for the nine months ended September 30, 2025.
  • Net Interest Income: $55.1 million for the nine months ended September 30, 2025.
  • Non-Interest Income: $75.3 million for the nine months ended September 30, 2025, primarily from mortgage banking activities.

CoreVest Mortgage Banking

  • Interest Income: $12.2 million for the nine months ended September 30, 2025.
  • Interest Expense: - $6.8 million for the nine months ended September 30, 2025.
  • Net Interest Income: $5.3 million for the nine months ended September 30, 2025.
  • Non-Interest Income: $51.4 million for the nine months ended September 30, 2025, primarily from mortgage banking activities.

Redwood Investments

  • Interest Income: $646.8 million for the nine months ended September 30, 2025.
  • Interest Expense: - $585.5 million for the nine months ended September 30, 2025.
  • Net Interest Income: $61.3 million for the nine months ended September 30, 2025.
  • Non-Interest Income: $3.4 million for the nine months ended September 30, 2025, including investment fair value changes.

Legacy Investments

  • Interest Income: $79.1 million for the nine months ended September 30, 2025.
  • Interest Expense: - $95.7 million for the nine months ended September 30, 2025.
  • Net Interest Income: - $16.7 million for the nine months ended September 30, 2025.
  • Non-Interest Income: - $97.6 million for the nine months ended September 30, 2025, primarily due to investment fair value changes.

Corporate/Other

  • Interest Income: $1.3 million for the nine months ended September 30, 2025.
  • Interest Expense: - $49.6 million for the nine months ended September 30, 2025.
  • Net Interest Income: - $48.3 million for the nine months ended September 30, 2025.
  • Non-Interest Income: $0.9 million for the nine months ended September 30, 2025.

Outlook

Redwood Trust, Inc. plans to accelerate the wind-down of the Legacy Investments portfolio, including the transfer of $484 million in fair value of legacy unsecuritized bridge loans and REO assets to a newly formed partnership structure, the Legacy Trust.

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