Redwood Trust Q3 GAAP net loss $33M; book value down 5.3% to $8.77

REDWOOD TRUST INC

2023-Q3 EPS reported -$0.27

GAAP net loss attributable to common stockholders of $(33)M ($0.29/diluted share); Non-GAAP EAD of $11M ($0.09/share).
Book value per common share fell 5.3% to $8.77 from $9.26, economic return (3.6)%.
Jumbo loan lock volume surged to $1.6B (up ~200% QoQ) as bank sellers contributed 50% of purchases.
Regular quarterly dividend maintained at $0.16 per share.
Recourse leverage increased to 2.3x (2.2x prior); unrestricted cash $204M at quarter end.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

REDWOOD TRUST INC reported the quarter ended September 30, 2023 results: net income $(33) million, EPS $(0.29) per diluted common share.

Period: the quarter ended September 30, 2023
Net income: $(33) million
EPS: $(0.29) per diluted common share
Result: reported results

Exact text from the filing

REDWOOD TRUST REPORTS THIRD QUARTER 2023 FINANCIAL RESULTS MILL VALLEY, CA – Redwood Trust, Inc. (NYSE:RWT; "Redwood" or the "Company"), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended September 30, 2023. Key Q3 2023 Financial Results and Metrics • GAAP boo k value per common share was $8.77 at September 30, 2023, a 5.3% decrease from $9.26 per share at June 30, 2023 ◦ Economic return on book value of (3.6)% (1) • GAAP net loss related to common stockholders of $(33) million or $(0.29) per diluted common share

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Source: SEC EDGAR

accession 0000930236-23-000035

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