Redwood Trust Inc (NYSE:RWT)
$ 7.715 -0.045 (-0.58%) Market Cap: 1.02 Bil Enterprise Value: 15.79 Bil PE Ratio: 45.38 PB Ratio: 0.88 GF Score: 36/100
Back to the Transcripts List

Q2 2024 Redwood Trust Inc Earnings Call Transcript

Aug 01, 2024 / 12:00PM GMT
Release Date Price: $7.07 (-2.75%)

Key Points

Positve
  • Redwood Trust Inc (RWT) achieved approximately 50% growth in residential consumer lock volumes for the second consecutive quarter.
  • The company realized a 20% reduction in fixed costs, improving operating efficiency.
  • Earnings available for distribution increased by 70% from the prior quarter, reaching $0.13 per share.
  • Redwood Trust Inc (RWT) saw an 80% quarter-over-quarter growth in bank lock volume.
  • The company maintained a robust cash position of $276 million at quarter end, effectively unchanged from the first quarter.
Negative
  • GAAP earnings decreased to $0.10 per share from $0.21 per share in the first quarter.
  • Book value per share slightly decreased from $8.78 at March 31 to $8.73 at June 30.
  • The company experienced higher reserves on bridge loans, impacting performance.
  • Net interest income from the bridge portfolio decreased due to a smaller portfolio size.
  • The delinquency rate in the bridge loan portfolio saw a modest uptick, largely driven by multifamily loans.
Operator

Good afternoon, and welcome to the Redwood Trust, Inc., second-quarter 2024 financial results conference call. Today's conference is being recorded.

I will now turn the call over to Kaitlyn Mauritz, Redwood's Head of Investor Relations. Please go ahead, ma'am.

Kaitlyn Mauritz
Redwood Trust Inc - Head of Investor Relations

Thank you, operator. Hello, everyone, and thank you for joining us today for our second quarter 2024 earnings conference call. With me on today's call are Chris Abate, Chief Executive Officer; Dash Robinson, President; and Brooke Carillo, Chief Financial Officer.

Before we begin, I want to remind you that certain statements made during management's presentation today with respect to future financial and business performance may constitute forward-looking statements. Forward-looking statements are based on current expectations, forecasts and assumptions and include risks and uncertainties that could cause actual results to differ materially. We encourage you to read the company's annual report on Form 10-K, which provides a

Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2024 GuruFocus.com, LLC. All Rights Reserved.