PennyMac Financial Q1 net income $39.3M, EPS $0.74, revenue $305.7M; servicing portfolio $617B

PennyMac Financial Services, Inc.

2024-Q1 EPS reported $0.74 revenue$3,617,000

Net income $39.3M ($0.74 diluted EPS) vs. pretax loss $54.2M in Q4 2023; revenue $305.7M.
Production segment pretax income $35.9M; total loan acquisitions $21.7B UPB, down 19% QoQ.
Servicing segment pretax income $4.9M (excl. valuation items: $124.7M); servicing portfolio grew 2% QoQ to $617B UPB.
Declared Q1 cash dividend $0.20/share, payable May 24, 2024; issued $425M term notes secured by Ginnie Mae MSR.
Annualized operating return on equity 15%; CEO cites strong operating earnings in expected trough origination market.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PennyMac Financial Services, Inc. reported first quarter of 2024 results: revenue $305.7 million, net income $39.3 million, EPS $0.74 per share on a diluted basis.

Period: first quarter of 2024
Revenue: $305.7 million
Net income: $39.3 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 net income of $39.3 million for the first quarter of 2024, or $0.74 per share on a diluted basis, on revenue of $305.7 million.

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Source: SEC EDGAR

accession 0001104659-24-051253

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