Redwood Trust Q3 Adj $0.18 Beats $0.14 Estimate, Sales $25.50M Miss $29.49M Estimate
Portfolio Pulse from Benzinga Newsdesk
Redwood Trust reported Q3 earnings of $0.18 per share, beating estimates of $0.14, but sales of $25.50M missed the $29.49M estimate. Earnings doubled from last year, while sales increased by 25%.
October 30, 2024 | 9:05 pm
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NEUTRAL IMPACT
Redwood Trust's Q3 earnings per share of $0.18 exceeded expectations, but sales fell short of estimates. Despite the sales miss, earnings doubled from the previous year.
The earnings beat is a positive indicator, showing improved profitability, but the sales miss could raise concerns about revenue growth. The mixed results may lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100