Rithm Capital Corp. (NYSE:RITM) Q3 2024 Earnings Conference Call October 29, 2024 8:00 AM ET

Company Participants

Emma Bolla - Associate General Counsel
Michael Nierenberg - Chairman, Chief Executive Officer and President
Baron Silverstein - President, Newrez

Conference Call Participants

Bose George - KBW
Stephen Laws - Raymond James
Eric Hagen - BTIG
Kenneth Lee - RBC Capital Markets
Crispin Love - Piper Sandler
Jason Weaver - Jones Trading
Trevor Cranston - Citizens JMP

Operator

Good day and welcome to the Rithm Capital Third Quarter 2024 Earnings Conference Call. All participants are in 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 Bolla, 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 third quarter 2024 earnings call.

Joining me today are Michael Nierenberg, Chairman, CEO and President of Rithm Capital; Nick Santoro, Chief Financial Officer of Rithm Capital; and Baron Silverstein, President of Newrez. 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. So during the quarter, we had a very strong quarter across all of our business lines. Before I get into the -- what I would call the meat of our business. I wanted to point out a couple things before we go into the deck. First of all, you'll see a value slide depicting the sum of the parts analysis, which we put in last quarter, and again, we put it in this quarter. Quite Frankly, I believe our equity is very cheap when you look at peers in the business and our actual results.