Redwood Trust: Q4 Earnings Snapshot
By AP News
Published - Feb 20, 2024, 05:27 PM ET
Last Updated - Feb 20, 2024, 05:27 PM EST
MILL VALLEY, Calif. (AP) — MILL VALLEY, Calif. (AP) — Redwood Trust Inc. (RWT) on Tuesday reported fourth-quarter net income of $21 million.
The Mill Valley, California-based company said it had profit of 15 cents per share. Earnings, adjusted for non-recurring gains, were 5 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The specialty finance company posted revenue of $190 million in the period. Its adjusted revenue was $20 million, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $23.8 million.
