Rithm Capital (RITM) Q3 2025 Earnings
How Did RITM Stock React to Q3 2025 Earnings?
S&P 500 over the same 30 days: +0.25%.
Did RITM Beat Earnings? Q3 2025 Results
Yes. Rithm Capital reported Q3 2025 earnings of $0.54 a share on Oct 30, 2025, beating the $0.52 consensus estimate by 3.8%. Revenue was $1.1B against a $1.1B estimate.
Rithm Capital closed out Q3 2025 with a clean beat on both the top and bottom lines, reporting non-GAAP earnings of $0.54 per diluted share against a consensus estimate of $0.52, a 3.85% beat, while revenue of $1.11 billion cleared analyst expectations of $1.07 billion by 3.46%. The headline numbers masked meaningful cross-currents beneath the surface; a $264.35 million negative MSR mark-to-market adjustment compressed net servicing revenue to $314.93 million, contributing to a 32.1% year-over-year revenue decline and a sequential dip from $1.22 billion last quarter. Offsetting that pressure, Newrez's origination engine gained momentum with $16.40 billion in funded volume and gain-on-sale revenue climbing to $196.31 million, while Genesis Capital posted $1.20 billion in transitional loan originations, up 60% year-over-year. The quarter was equally defined by strategic ambition, as Rithm announced agreements to acquire alternative asset manager Crestline Management and office REIT Paramount Group for roughly $1.60 billion in cash, both expected to close in Q4 2025, accelerating its evolution into a diversified asset management platform.
- Newrez pre-tax income of $295.1 million (ex-MSR mark-to-market), up from $275.1 million in Q2, generating 20% pre-tax ROE on $6.2 billion equity
- Total servicing UPB reached $878 billion, up 7% YoY; third-party servicing UPB of $282 billion, up 21% YoY
- Origination funded production volume of $16.4 billion, up 3% YoY
- Genesis Capital origination volume of $1.2 billion, up 60% YoY
- Sculptor Capital grew to approximately $37 billion AUM with $1.4 billion gross fundraising inflows in Q3
- Gain on originated residential mortgage loans increased to $196.3 million from $169.7 million in Q2
- Sculptor completed CLO issuance and reset in European market contributing approximately $585 million of AUM
“This quarter marks a pivotal step forward in Rithm Capital's journey, driven by strategic acquisitions, platform expansion, and a disciplined investment approach, as we continue building a diversified, asset management platform.”
Rithm Capital CEO, on the earnings call
What Was Rithm Capital's Outlook in Q3 2025?
Rithm Capital is focused on building a diversified asset management platform through strategic acquisitions. The pending acquisition of Crestline Management (targeting Q4 2025 close) will expand offerings into direct lending, opportunistic credit, NAV lending, and insurance. The pending acquisition of Paramount Group (also targeting Q4 2025 close, subject to stockholder approval) will enhance commercial real estate expertise and the owner-operator model. The company also has a forward flow agreement with Upgrade, Inc. to acquire $1 billion in home improvement loans, with $234 million acquired in Q3 and an additional $150 million post-quarter-end.
RITM YoY Financials
| Metric | Q3 2025 | Q3 2024 | Year over year |
|---|---|---|---|
| Revenue | $1.1B | $1.6B | −32.1% |
| Operating Income | $166.7M | $575.1M | −71.0% |
| Net Income | $193.7M | $121.7M | +59.1% |
RITM Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.