Rithm Capital Q2 Earnings Plunge as Expenses Surge; Book Value Slips to $12.33
RITM sits 21% above its 52-week low of $8.43.
Summary
Rithm Capital reported Q2 2026 net income of $20.2M ($0.04/share), a steep drop from $283.9M a year ago, as surging expenses overwhelmed modest revenue growth. Book value per share fell to $12.33.
Key Events · Earnings and Guidance · RITM
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Earnings Collapse
Net income attributable to common stockholders fell to $20.2M ($0.04/share) in Q2 2026 from $283.9M ($0.53) a year earlier, as a 34% jump in operating expenses more than offset a 5% revenue increase.
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Book Value Decline
Book value per common share slipped to $12.33 as of June 30, 2026, down from $12.66 at December 31, 2025, reflecting the earnings shortfall and preferred dividends.
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Capital Management Inaction
The company did not repurchase any common or preferred shares under its $200M/$100M buyback program and made no sales under its $750M ATM program during the first half of 2026.
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Legal Officer Transition
Chief Legal Officer David Zeiden transitioned to a role at Sculptor, with Philip Sivin appointed as his successor effective July 31, 2026.
Analysis · RITM · Real Estate & Construction
Rithm Capital's Q2 2026 net income attributable to common stockholders collapsed to $20.2 million, or $0.04 per share, from $283.9 million a year ago. Revenue grew 5% to $1.28 billion, but operating expenses jumped 34% — driven by compensation, interest, and depreciation from recent acquisitions — erasing the top-line gain. Book value per common share dipped to $12.33 from $12.66 at year-end. The company did not repurchase any shares under its $200 million buyback program and made no ATM sales, preserving capital but signaling no immediate defense of the stock price. A Chief Legal Officer transition was also disclosed.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.4% of the 1637 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, RITM was trading at $10.18 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $5.7B. The 52-week trading range was $8.43 to $12.74. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.