earnings
confidence high
sentiment neutral
materiality 0.65
Onity Group Q2 net loss $13M; record origination $15B, revenue up 15% YoY
ONITY GROUP INC.
- Net loss of $13M ($1.53 diluted EPS); adjusted pre-tax income of $14M (annualized adjusted ROE 9%).
- Total revenue $283M (+15% YoY); adjusted revenue $281M (+24% YoY).
- Record quarterly origination volume of $15B (+64% YoY); ending servicing UPB $341B (+10% YoY).
- Net loss includes $9M pre-tax cost from reverse asset sale and legacy subservicing transfer, plus $24M unfavorable asset fair value changes.
- Maintained adjusted ROE guidance 10%-15% but expected at lower end due to geopolitical instability, inflation, and market volatility.