Redwood Trust, Inc. Q3 adjusted earnings Miss Estimates

(RTTNews) - Redwood Trust, Inc. (RWT) released a profit for third quarter that decreased from last year.

The company's profit totaled $34 million, or $0.31 per share. This compares with $41 million, or $0.42 per share, in last year's third quarter.

Excluding items, Redwood Trust, Inc. reported adjusted earnings of $43 million or $0.37 per share for the period.

Analysts had expected the company to earn $0.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.9% to $34 million from $35 million last year.

Redwood Trust, Inc. earnings at a glance:

-Earnings (Q3): $43 Mln. vs. $36 Mln. last year. -EPS (Q3): $0.37 vs. $0.38 last year. -Analysts Estimate: $0.40 -Revenue (Q3): $34 Mln vs. $35 Mln last year.