PennyMac Financial Q4 net loss $36.8M on $158.4M arbitration accrual; revenue $361.9M

PennyMac Financial Services, Inc.

2023-FY EPS reported $2.74 revenue$13,403,000

Q4 net loss of $36.8M ($0.74 diluted EPS) vs. year-ago net income; full-year net income $144.7M, down from $475.5M.
$158.4M non-recurring arbitration accrual related to Black Knight litigation; arbitrator affirmed ownership of SSE platform.
Production segment pretax income $39.4M (up from $25.2M prior quarter); Servicing segment pretax loss $95.5M due to accrual and MSR fair-value losses.
Servicing portfolio UPB $607.2B (up 10% YoY); issued $750M 6-yr unsecured notes, redeemed $875M secured term notes.
Declared Q4 cash dividend of $0.20 per share, payable Feb 23, 2024 to holders of record Feb 13, 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PennyMac Financial Services, Inc. reported fourth quarter of 2023 results: revenue $361.9 million, net income net loss of $36.8 million, EPS $(0.74) per share on a diluted basis.

Period: fourth quarter of 2023
Revenue: $361.9 million
Net income: net loss of $36.8 million
EPS: $(0.74) per share on a diluted basis
Result: reported results

Exact text from the filing

PennyMac Financial Services, Inc. (NYSE: PFSI) today reported a net loss of $36.8 million for the fourth quarter of 2023, or $(0.74) per share on a diluted basis, on revenue of $361.9 million.

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Source: SEC EDGAR

accession 0001104659-24-009494

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