Rithm Capital Corp. (NYSE:RITM) Q2 2023 Earnings Conference Call August 2, 2023 8:00 AM ET

Company Participants

Emma Bolla - Associate General Counsel

Michael Nierenberg - Chairman, CEO & President

Nick Santoro - CFO and Chief Accounting Officer

Conference Call Participants

Eric Hagen - BTIG

Bose George - Keefe, Bruyette, & Woods

Douglas Harter - Crédit Suisse

Giuliano Bologna - Compass Point Research

Trevor Cranston - JMP Securities

Kevin Barker - Piper Sandler

Operator

Good day and welcome to the Rithm Capital’s Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. Please note, this event is being recorded. I would now like to turn the conference over to Emma Bola, Associate General Counsel. Please go ahead.

Emma Bolla

Thank you and good morning, everyone. I would like to thank you for joining us today for Rithm Capital's second quarter 2023 earnings call. Joining me today are Michael Nierenberg, Chairman, CEO and President of Rithm Capital; and Nick Santoro, Chief Financial Officer of Rithm Capital. Throughout the call, we are going to reference the earnings supplement that was posted this morning to the Rithm Capital website www.rithmcap.com. If you've not already done so, I'd encourage you to download the presentation now.

I would like to point out that certain statements made today will be forward-looking statements. These statements by their nature are uncertain and may differ materially from actual results. I encourage you to review the disclaimers in our press release and earnings supplement regarding forward-looking statements and to review the risk factors contained in our annual and quarterly reports filed with the SEC. In addition, we will be discussing some non-GAAP financial measures during today's call. Reconciliations of these measures to the most directly comparable GAAP measures can be found in our earnings supplement. And with that, I will turn the call over to Michael.

Michael Nierenberg

Thanks, Emma. Good morning, everyone and thanks for joining us. As some of you heard last week, we pre-released earnings in conjunction with the announcement we were acquiring Sculptor. These are really exciting times for us, our shareholders and our LPs. Our strategic measured growth in business lines where we try to create an edge is something we're very proud of.

Since inception in 2013, when the company was formed by Fortress to take advantage of price dislocations created by higher capital requirements at the banks, we have executed on that plan and along the way, we grew and acquired a number of operating companies in the financial services space. Our mission is to continue to do the very same thing we've done for the past 10 years, drive value for shareholders and LPs with teens type returns.