Quarterly ResultJul 28, 2026, 07:06 AM
Redwood Trust Q2 Non-GAAP EAD $0.15; Mortgage Banking Production Exceeds $8B
AI Summary
Redwood Trust, Inc. reported a GAAP net loss of $(0.03) per basic and diluted common share for the second quarter ended June 30, 2026. However, non-GAAP Earnings Available for Distribution (EAD) was $0.15 per share, and non-GAAP Core Segments EAD was $0.25 per share, reflecting strong operational performance. The company's Mortgage Banking production exceeded $8 billion for the second consecutive quarter, marking the second highest quarterly volume in its history and nearly double the same period last year. GAAP book value per common share was $6.90, and a quarterly dividend of $0.18 per common share was declared.
Key Highlights
- Non-GAAP Core Segments EAD was $0.25 per basic common share for Q2 2026.
- Mortgage Banking production exceeded $8 billion for the second consecutive quarter.
- GAAP net loss was $(0.03) per basic and diluted common share for Q2 2026.
- GAAP book value per common share was $6.90 at June 30, 2026, down from $7.12.
- Declared and paid a regular quarterly dividend of $0.18 per common share.
- Total Mortgage Banking GAAP net income increased 9% from Q1 2026 to $40.1 million.
- AI-enabled automation increased annualized time savings to approximately 23,600 hours, up 50% from Q1.
- Recourse debt decreased to $4.5 billion at June 30, 2026, from $4.7 billion.
Price Impact
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