secwatch.observer — SEC 8-K summary
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Issuer:     PennyMac Financial Services, Inc. (PFSI)
CIK:        0001745916
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001104659-23-051418
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1745916/000110465923051418/0001104659-23-051418-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1745916/000110465923051418/tm2313932d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-051418

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