Redwood Trust: Q3 Earnings Snapshot

MILL VALLEY, Calif. (AP) — MILL VALLEY, Calif. (AP) — Redwood Trust Inc. (RWT) on Monday reported a loss of $31 million in its third quarter.

The Mill Valley, California-based company said it had a loss of 29 cents per share. Earnings, adjusted for non-recurring costs, came to 9 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The specialty finance company posted revenue of $177 million in the period. Its adjusted revenue was $20 million, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $27.4 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RWT at https://www.zacks.com/ap/RWT