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Here's What Key Metrics Tell Us About PennyMac (PFSI) Q2 Earnings
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For the quarter ended June 2024, PennyMac Financial (PFSI - Free Report) reported revenue of $406.13 million, up 20.7% over the same period last year. EPS came in at $2.67, compared to $1.11 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $468.44 million, representing a surprise of -13.30%. The company delivered an EPS surprise of +0.75%, with the consensus EPS estimate being $2.65.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how PennyMac performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Net gains on loans held for sale at fair value: $176.06 million versus the three-analyst average estimate of $173.01 million. The reported number represents a year-over-year change of +24.5%.
Revenue- Loan origination fees: $42.08 million versus the three-analyst average estimate of $41.71 million. The reported number represents a year-over-year change of +8%.
Revenue- Net interest income: -$7.06 million versus the three-analyst average estimate of -$1.31 million. The reported number represents a year-over-year change of +24.1%.
Revenue- Loan servicing fees: $440.70 million versus $430.49 million estimated by three analysts on average.
Revenue- Fulfillment fees from PMT: $4.43 million versus $5.20 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -18.6% change.
Revenue- Management fees: $7.13 million compared to the $7.10 million average estimate based on two analysts. The reported number represents a change of +0.8% year over year.
Revenue- Other: $15.88 million compared to the $4 million average estimate based on two analysts. The reported number represents a change of +388.3% year over year.
Shares of PennyMac have returned +6.4% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About PennyMac (PFSI) Q2 Earnings
For the quarter ended June 2024, PennyMac Financial (PFSI - Free Report) reported revenue of $406.13 million, up 20.7% over the same period last year. EPS came in at $2.67, compared to $1.11 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $468.44 million, representing a surprise of -13.30%. The company delivered an EPS surprise of +0.75%, with the consensus EPS estimate being $2.65.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how PennyMac performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Net gains on loans held for sale at fair value: $176.06 million versus the three-analyst average estimate of $173.01 million. The reported number represents a year-over-year change of +24.5%.
- Revenue- Loan origination fees: $42.08 million versus the three-analyst average estimate of $41.71 million. The reported number represents a year-over-year change of +8%.
- Revenue- Net interest income: -$7.06 million versus the three-analyst average estimate of -$1.31 million. The reported number represents a year-over-year change of +24.1%.
- Revenue- Loan servicing fees: $440.70 million versus $430.49 million estimated by three analysts on average.
- Revenue- Fulfillment fees from PMT: $4.43 million versus $5.20 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -18.6% change.
- Revenue- Management fees: $7.13 million compared to the $7.10 million average estimate based on two analysts. The reported number represents a change of +0.8% year over year.
- Revenue- Other: $15.88 million compared to the $4 million average estimate based on two analysts. The reported number represents a change of +388.3% year over year.
View all Key Company Metrics for PennyMac here>>>Shares of PennyMac have returned +6.4% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.