Redwood Trust Q1 2024 Adj EPS $0.08 Misses $0.09 Estimate, Sales $24.000M Beat $23.084M Estimate
Portfolio Pulse from Benzinga Newsdesk
Redwood Trust (NYSE:RWT) reported Q1 2024 adjusted EPS of $0.08, missing the $0.09 estimate, and sales of $24M, beating the $23.084M estimate. This represents a decrease in earnings and sales from the same period last year.
April 30, 2024 | 8:47 pm
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Redwood Trust reported a Q1 2024 adjusted EPS of $0.08, missing estimates by 11.11%, and sales of $24M, exceeding expectations. Earnings and sales both declined from the previous year.
The miss in EPS expectations and the year-over-year decline in both earnings and sales are likely to negatively impact investor sentiment towards RWT in the short term. Despite the sales beat, the earnings miss and overall decline are critical factors that could lead to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100