--- title: "Rithm Capital | 8-K: FY2026 Q2 Revenue: USD 1.282 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/294052114.md" datetime: "2026-07-28T10:47:50.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294052114.md) - [en](https://longbridge.com/en/news/294052114.md) - [zh-HK](https://longbridge.com/zh-HK/news/294052114.md) --- # Rithm Capital | 8-K: FY2026 Q2 Revenue: USD 1.282 B Revenue: As of FY2026 Q2, the actual value is USD 1.282 B. EPS: As of FY2026 Q2, the actual value is USD 0.04. EBIT: As of FY2026 Q2, the actual value is USD 550.97 M. ### Financial Highlights (Q2 2026 vs. Q1 2026) #### GAAP Net Income - GAAP net income was $20.2 million in Q2 2026, a decrease from $67.8 million in Q1 2026. - Net Income Attributable to Common Stockholders was $20,193 thousand in Q2 2026, compared to $67,831 thousand in Q1 2026. #### Earnings Available for Distribution (Non-GAAP) - Earnings available for distribution were $338.9 million in Q2 2026, an increase from $289.6 million in Q1 2026. #### Common Dividend - The common dividend was $139.6 million in both Q2 2026 and Q1 2026. #### Book Value - Book value per common share was $12.33 as of June 30, 2026. #### Consolidated Operations (Q2 2026 vs. Q1 2026) - Total Revenue: $1,282,281 thousand in Q2 2026, down from $1,384,710 thousand in Q1 2026. - Total Operating Expenses: $1,275,487 thousand in Q2 2026, up from $1,237,718 thousand in Q1 2026. - Income before Income Taxes: $86,886 thousand in Q2 2026, compared to $154,240 thousand in Q1 2026. - Income tax expense: $18,973 thousand in Q2 2026, down from $44,762 thousand in Q1 2026. ### Segment Performance (Q2 2026) #### Origination and Servicing - Total Revenue: $704,211 thousand. - Servicing fee revenue, net and interest income from MSRs and MSR financing receivables: $614,637 thousand. - Change in fair value of MSRs and MSR financing receivables, net of economic hedges: - $392,875 thousand. - Servicing revenue, net: $221,762 thousand. - Interest income: $252,496 thousand. - Gain on originated residential mortgage loans, held-for-sale, net: $204,731 thousand. - Other residential-related revenue: $25,222 thousand. - Total Operating Expenses: $592,027 thousand. - Income before Income Taxes: $113,120 thousand. - Newrez, Rithm Capital Corp.’s mortgage origination and servicing platform, posted pre-tax operating income of $307.6 million in Q2 2026, excluding MSRs mark-to-market loss, net of hedges, and other non-operating items of - $194.5 million. - This is an increase from $273.7 million in Q1 2026, excluding MSRs MTM loss, net of hedges, and other non-operating items of - $23.1 million. - Newrez generated a 22% annualized operating return on equity in Q2 2026. - Total servicing unpaid principal balance reached $865.2 billion at the end of Q2 2026, including $268.4 billion UPB of third-party servicing. - Origination funded production volume was $15.9 billion in Q2 2026, a 3% increase quarter over quarter and a 2% decrease year over year. #### Residential Transitional Lending - Total Revenue: $103,587 thousand. - Interest income: $103,587 thousand. - Total Operating Expenses: $73,917 thousand. - Income before Income Taxes: $37,015 thousand. - Genesis Capital LLC recorded Q2 2026 origination volume of $1.9 billion, a 52% year-over-year increase. - Genesis Capital expanded its sponsor base by 125 new sponsors in Q2 2026, a 46% increase year over year. #### Asset Management - Total Revenue: $168,740 thousand. - Management fees: $88,789 thousand. - Incentive fees: $51,743 thousand. - Asset management revenue: $140,532 thousand. - Total Operating Expenses: $198,564 thousand. - Income before Income Taxes: $14,028 thousand. - Rithm Asset Management had approximately $61 billion of assets under management (AUM) as of June 30, 2026, up from $59 billion at the end of Q1 2026. - This increase was driven by $1.9 billion of gross inflows and new fund commitments in Q2 2026. - Asset management revenue was $141 million in Q2 2026, up from approximately $105 million in Q1 2026, representing a 34% quarter-over-quarter increase due to higher incentive fee income. #### Investment Portfolio - Total Revenue: $117,041 thousand. - Interest income: $85,428 thousand. - Gain on originated residential mortgage loans, held-for-sale, net: $2,275 thousand. - Other residential-related revenue: $29,338 thousand. - Total Operating Expenses: $115,590 thousand. - Income before Income Taxes: $31,497 thousand. - Rithm Capital Corp. sponsored and completed three non-qualified mortgage securitizations in Q2 2026, totaling $1.4 billion in unpaid principal balance. - The company acquired $303 million in home improvement loans in Q2 2026, bringing the total purchased to $970 million through quarter-end. - An inaugural $316 million securitization of home improvement loans was completed. #### Commercial Real Estate - Total Revenue: $186,011 thousand. - Commercial real estate revenue: $182,130 thousand. - Total Operating Expenses: $218,753 thousand. - Income before Income Taxes: - $34,838 thousand. - Elecor increased year-to-date leasing activity to 681 thousand square feet, achieving rents 32% higher in New York City and 1% higher in San Francisco compared to FY 2025. - Rithm Capital Corp. closed on a previously announced $283 million refinancing of 1325 Avenue of the Americas. #### Corporate Category - Total Revenue: $2,691 thousand. - Total Operating Expenses: $76,636 thousand. - Income before Income Taxes: - $73,936 thousand. ### Management Outlook - CEO Michael Nierenberg expressed confidence in Rithm Capital Corp.’s positioning and future opportunities, highlighting strong performance across all pillars. - He cited significant momentum in the owner-operator platform, including growth in asset management, record origination for Genesis, Newrez’s operating return on equity, and Elecor’s leasing momentum. - 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