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27 June, 2017 04:06 IST
NEW RESIDENTIAL INVESTMENT first-quarter earnings plunge by 46.09 percent on a YOY basis
Source: IRIS | 20 Jun, 2017, 01.31AM

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New Residential Investment Corp (NRZ) has reported 46.09 percent plunge in profit for the quarter ended Mar. 31, 2017. The company has earned $121.38 million, or $0.42 a share in the quarter, compared with $225.16 million, or $0.90 a share for the same period last year.     

The company has not recorded any revenues for the current as well as previous quarter.

Total expenses were $88.46 million for the quarter, down 20.04 percent or $22.17 million from year-ago period.

Operating loss for the quarter was $88.46 million, compared with an operating loss of $110.64 million in the previous year period.

Receivables move up
Net receivables were at $1,857.54 million as on Mar. 31, 2017, up 23.10 percent or $348.52 million from year-ago. Accounts payable stood at $1,446.28 million as on Mar. 31, 2017.

Investments stood at $17,226.19 million as on Mar. 31, 2017, up 200.26 percent or $11,489.10 million from year-ago.

Total assets grew 13.99 percent or $2,458.21 million to $20,029.99 million on Mar. 31, 2017. On the other hand, total liabilities were at $15,728.23 million as on Mar. 31, 2017, up 8.52 percent or $1,235.45 million from year-ago.

Return on assets moved down 116 basis points to 0.68 percent in the quarter. At the same time, return on equity moved down 449 basis points to 2.82 percent in the quarter.

Debt moves up
Total debt was at $13,835.21 million as on Mar. 31, 2017, up 7.71 percent or $990.85 million from year-ago. Shareholders equity stood at $4,301.76 million as on Mar. 31, 2017, up 39.71 percent or $1,222.76 million from year-ago. As a result, debt to equity ratio went down 96 basis points to 3.22 percent in the quarter.
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