
Redwood Trust Inc
NYSE:RWT

Income Statement
Earnings Waterfall
Redwood Trust Inc
Revenue
|
939.9m
USD
|
Cost of Revenue
|
-792.7m
USD
|
Gross Profit
|
147.2m
USD
|
Operating Expenses
|
-40.4m
USD
|
Operating Income
|
106.8m
USD
|
Other Expenses
|
-36.2m
USD
|
Net Income
|
70.6m
USD
|
Income Statement
Redwood Trust Inc
Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
234
N/A
|
242
+3%
|
250
+3%
|
256
+2%
|
256
+0%
|
259
+1%
|
258
-1%
|
261
+1%
|
259
-1%
|
246
-5%
|
239
-3%
|
231
-3%
|
233
+1%
|
248
+7%
|
270
+9%
|
294
+9%
|
331
+12%
|
379
+15%
|
433
+14%
|
499
+15%
|
549
+10%
|
622
+13%
|
689
+11%
|
671
-3%
|
643
-4%
|
572
-11%
|
502
-12%
|
639
+27%
|
663
+4%
|
575
-13%
|
764
+33%
|
665
-13%
|
697
+5%
|
708
+2%
|
697
-2%
|
708
+2%
|
708
0%
|
761
+8%
|
795
+4%
|
858
+8%
|
940
+10%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(83)
|
(88)
|
(93)
|
(94)
|
(95)
|
(96)
|
(96)
|
(95)
|
(93)
|
(89)
|
(86)
|
(87)
|
(93)
|
(109)
|
(129)
|
(153)
|
(190)
|
(239)
|
(297)
|
(365)
|
(417)
|
(480)
|
(527)
|
(514)
|
(498)
|
(448)
|
(404)
|
(512)
|
(515)
|
(427)
|
(563)
|
(479)
|
(518)
|
(560)
|
(580)
|
(609)
|
(626)
|
(646)
|
(675)
|
(724)
|
(793)
|
|
Gross Profit |
151
N/A
|
155
+2%
|
158
+2%
|
162
+2%
|
161
0%
|
164
+1%
|
162
-1%
|
166
+2%
|
166
0%
|
158
-5%
|
153
-3%
|
144
-6%
|
140
-3%
|
139
0%
|
141
+1%
|
141
0%
|
140
0%
|
140
0%
|
136
-2%
|
134
-2%
|
132
-1%
|
143
+8%
|
162
+14%
|
157
-3%
|
145
-8%
|
124
-15%
|
98
-21%
|
127
+30%
|
148
+16%
|
148
+0%
|
201
+36%
|
185
-8%
|
178
-4%
|
148
-17%
|
117
-20%
|
100
-15%
|
82
-18%
|
115
+41%
|
121
+5%
|
134
+11%
|
147
+10%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(50)
|
(68)
|
(74)
|
(67)
|
(100)
|
(98)
|
(72)
|
(57)
|
(30)
|
(6)
|
2
|
(0)
|
8
|
(5)
|
(1)
|
(2)
|
(12)
|
(2)
|
(15)
|
(15)
|
(25)
|
(18)
|
(68)
|
(102)
|
(63)
|
(48)
|
48
|
139
|
129
|
64
|
47
|
(64)
|
(103)
|
(149)
|
(149)
|
(105)
|
(94)
|
(62)
|
(62)
|
(61)
|
(40)
|
|
Selling, General & Administrative |
(71)
|
(79)
|
(81)
|
(83)
|
(85)
|
(80)
|
(76)
|
(72)
|
(70)
|
(67)
|
(66)
|
(65)
|
(65)
|
(67)
|
(71)
|
(70)
|
(71)
|
(69)
|
(69)
|
(76)
|
(81)
|
(102)
|
(106)
|
(109)
|
(110)
|
(101)
|
(112)
|
(132)
|
(130)
|
(152)
|
(183)
|
(164)
|
(177)
|
(129)
|
(147)
|
(148)
|
(140)
|
(117)
|
(115)
|
(118)
|
(123)
|
|
Depreciation & Amortization |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(15)
|
(4)
|
(7)
|
(11)
|
(14)
|
(14)
|
(13)
|
(13)
|
(12)
|
(12)
|
(11)
|
0
|
|
Other Operating Expenses |
21
|
10
|
7
|
16
|
(15)
|
(18)
|
4
|
15
|
40
|
62
|
68
|
65
|
74
|
62
|
70
|
68
|
59
|
68
|
54
|
61
|
56
|
84
|
39
|
7
|
47
|
53
|
160
|
271
|
259
|
231
|
234
|
107
|
85
|
(6)
|
11
|
56
|
59
|
68
|
65
|
68
|
83
|
|
Operating Income |
102
N/A
|
86
-15%
|
84
-3%
|
94
+13%
|
61
-35%
|
66
+8%
|
90
+37%
|
109
+21%
|
136
+25%
|
152
+12%
|
155
+2%
|
143
-7%
|
148
+3%
|
135
-9%
|
140
+4%
|
139
-1%
|
128
-8%
|
138
+8%
|
122
-12%
|
118
-3%
|
107
-9%
|
124
+16%
|
95
-24%
|
55
-42%
|
82
+50%
|
76
-7%
|
146
+91%
|
266
+82%
|
277
+4%
|
212
-23%
|
249
+17%
|
121
-51%
|
75
-38%
|
(1)
N/A
|
(32)
-2 107%
|
(5)
+84%
|
(12)
-137%
|
53
N/A
|
58
+11%
|
73
+24%
|
107
+47%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
13
|
16
|
19
|
24
|
21
|
36
|
22
|
15
|
28
|
(1)
|
17
|
27
|
11
|
24
|
28
|
24
|
39
|
1
|
21
|
22
|
20
|
59
|
(838)
|
(666)
|
(575)
|
(558)
|
357
|
284
|
209
|
146
|
143
|
(51)
|
(142)
|
(170)
|
(167)
|
(82)
|
(56)
|
(44)
|
(21)
|
(16)
|
3
|
|
Non-Reccuring Items |
2
|
(1)
|
(2)
|
(5)
|
(7)
|
(11)
|
(18)
|
(17)
|
(15)
|
(17)
|
(6)
|
(5)
|
(5)
|
(6)
|
(7)
|
(8)
|
(9)
|
(9)
|
(9)
|
(8)
|
(7)
|
(7)
|
(100)
|
(101)
|
(103)
|
(105)
|
(15)
|
(22)
|
(25)
|
(20)
|
(25)
|
(18)
|
(15)
|
(12)
|
(10)
|
(9)
|
(8)
|
(9)
|
(11)
|
(12)
|
(15)
|
|
Total Other Income |
(12)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Pre-Tax Income |
104
N/A
|
101
-3%
|
100
-1%
|
114
+13%
|
75
-34%
|
92
+22%
|
94
+3%
|
107
+13%
|
148
+39%
|
135
-9%
|
166
+23%
|
166
N/A
|
154
-7%
|
152
-1%
|
161
+6%
|
154
-4%
|
159
+3%
|
131
-18%
|
134
+3%
|
133
-1%
|
121
-9%
|
177
+46%
|
(844)
N/A
|
(712)
+16%
|
(596)
+16%
|
(587)
+2%
|
488
N/A
|
528
+8%
|
461
-13%
|
338
-27%
|
367
+8%
|
52
-86%
|
(81)
N/A
|
(183)
-126%
|
(208)
-14%
|
(96)
+54%
|
(76)
+21%
|
(1)
+99%
|
27
N/A
|
44
+66%
|
95
+116%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(6)
|
(1)
|
3
|
1
|
13
|
10
|
5
|
7
|
(1)
|
(4)
|
(10)
|
(15)
|
(19)
|
(20)
|
(19)
|
(16)
|
(15)
|
(11)
|
(7)
|
(7)
|
(2)
|
(7)
|
16
|
18
|
9
|
5
|
(29)
|
(47)
|
(34)
|
(18)
|
(16)
|
12
|
6
|
20
|
19
|
9
|
9
|
(2)
|
(3)
|
(8)
|
(14)
|
|
Income from Continuing Operations |
99
|
101
|
103
|
114
|
88
|
102
|
100
|
114
|
147
|
131
|
156
|
151
|
135
|
132
|
142
|
139
|
143
|
120
|
127
|
126
|
119
|
169
|
(829)
|
(695)
|
(587)
|
(582)
|
459
|
481
|
427
|
320
|
351
|
63
|
(75)
|
(164)
|
(190)
|
(87)
|
(67)
|
(2)
|
23
|
36
|
82
|
|
Net Income (Common) |
96
N/A
|
98
+2%
|
100
+2%
|
111
+10%
|
85
-23%
|
99
+16%
|
97
-2%
|
111
+14%
|
143
+29%
|
128
-11%
|
152
+19%
|
147
-3%
|
131
-11%
|
137
+4%
|
146
+7%
|
142
-3%
|
147
+3%
|
116
-21%
|
123
+7%
|
122
-1%
|
116
-5%
|
164
+42%
|
(828)
N/A
|
(694)
+16%
|
(590)
+15%
|
(584)
+1%
|
450
N/A
|
467
+4%
|
414
-11%
|
309
-25%
|
339
+10%
|
56
-83%
|
(81)
N/A
|
(168)
-108%
|
(196)
-17%
|
(94)
+52%
|
(76)
+19%
|
(13)
+83%
|
13
N/A
|
25
+99%
|
71
+179%
|
|
EPS (Diluted) |
0.98
N/A
|
1.15
+17%
|
1.11
-3%
|
1.16
+5%
|
1
-14%
|
1.18
+18%
|
1.03
-13%
|
1.06
+3%
|
1.46
+38%
|
1.3
-11%
|
1.55
+19%
|
1.5
-3%
|
1.27
-15%
|
1.34
+6%
|
1.42
+6%
|
1.41
-1%
|
1.28
-9%
|
1.05
-18%
|
0.97
-8%
|
0.85
-12%
|
0.86
+1%
|
1.2
+40%
|
-7.24
N/A
|
-6.07
+16%
|
-4.15
+32%
|
-5.12
-23%
|
3.19
N/A
|
3.29
+3%
|
2.92
-11%
|
2.17
-26%
|
2.82
+30%
|
0.47
-83%
|
-0.7
N/A
|
-1.43
-104%
|
-1.71
-20%
|
-0.82
+52%
|
-0.67
+18%
|
-0.11
+84%
|
0.09
N/A
|
0.19
+111%
|
0.55
+189%
|