PFSI Q1 net income $30.4M ($0.57 EPS); pretax income down 84% YoY; production loss widens

PennyMac Financial Services, Inc.

2023-Q1 EPS reported $0.57 revenue$2,195,000

Net income $30.4M ($0.57 diluted EPS) on revenue $302.9M; pretax income $38.1M, down 44% QoQ and 84% YoY.
Production segment pretax loss $19.6M (vs loss $9.0M QoQ); servicing segment pretax income $57.4M down from $75.6M QoQ.
Servicing portfolio grew to $564.5B UPB (+2% QoQ); MSR fair value losses $90.3M partially offset by hedging gains $47.2M.
Bought back 0.8M shares at avg $58.99; issued $680M secured term loan; declared $0.20/share dividend payable May 26.
Total expenses $264.7M, down 37% YoY; book value per share $68.91, down from $69.44.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PennyMac Financial Services, Inc. reported financial results for the fiscal quarter ended March 31, 2023.

Period: the fiscal quarter ended March 31, 2023
Result: reported results

Exact text from the filing

PennyMac Financial Services, Inc. (NYSE: PFSI) today reported net income of $30.4 million for the first quarter of 2023, or $0.57 per share on a diluted basis, on revenue of $302.9 million.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PennyMac Financial Services, Inc. reported financial results for the fiscal quarter ended March 31, 2023.

Period: the fiscal quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On April 27, 2023, PennyMac Financial Services, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended March 31, 2023.

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PennyMac Financial Services, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-051418

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