loanDepot narrows Q3 net loss to $34M; expands Vision 2025 cost cuts by $120M

loanDepot, Inc.

2023-Q3 EPS reported -$0.48

Revenue $266M (-2% QoQ); net loss narrowed 31% QoQ to $34M; adjusted net loss $27M.
Total expenses fell 8% QoQ to $305M; cash remains strong at $717M.
Vision 2025 productivity program expanded to target $120M annualized cost reductions.
Pull through weighted gain on sale margin improved to 2.93% from 2.85% QoQ.
Diluted loss per share $0.09 vs $0.13 in Q2 2023 and $0.37 in Q3 2022.

item 2.02 item 7.01 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

loanDepot, Inc. reported the third quarter ended September 30, 2023 results: revenue $265,661, net income $34,262, EPS $(0.09) per diluted share.

Period: the third quarter ended September 30, 2023
Revenue: $265,661
Net income: $34,262
EPS: $(0.09) per diluted share
Result: reported results

Exact text from the filing

Gain on sale margin (2) 2.74 % 2.75 % 1.80 % 2.66 % 1.66 % Pull through weighted gain on sale margin (3) 2.93 % 2.85 % 2.03 % 2.69 % 1.92 % Financial Results Total revenue $ 265,661 $ 271,833 $ 274,192 $ 745,395 $ 1,086,141 Total expense 305,128 330,148 435,125 949,760 1,602,038 Net loss (34,262) (49,759) (137,482) (175,743) (452,623) Diluted loss per share $

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loanDepot, Inc. filing history →

Source: SEC EDGAR

accession 0001831631-23-000288

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