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PennyMac (PFSI) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended December 2023, PennyMac Financial (PFSI - Free Report) reported revenue of $361.94 million, up 6.3% over the same period last year. EPS came in at $1.76, compared to $0.89 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $413.35 million, representing a surprise of -12.44%. The company delivered an EPS surprise of +74.26%, with the consensus EPS estimate being $1.01.
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- Fulfillment fees from PennyMac Mortgage Investment Trust: $4.93 million compared to the $5.53 million average estimate based on three analysts. The reported number represents a change of -59.5% year over year.
Revenue- Loan origination fees: $38.06 million versus $37.06 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +35.8% change.
Revenue- Net gains on loans held for sale at fair value: $148.77 million versus $143 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +46% change.
Revenue- Net interest income: -$5.56 million versus the three-analyst average estimate of $9.40 million.
Revenue- Net loan servicing fees: $162.31 million versus $205.63 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -11.2% change.
Revenue- Management fees: $7.25 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: $6.18 million versus the two-analyst average estimate of $2.97 million. The reported number represents a year-over-year change of +26.2%.
Shares of PennyMac have returned +2.6% over the past month versus the Zacks S&P 500 composite's +1.6% 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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PennyMac (PFSI) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, PennyMac Financial (PFSI - Free Report) reported revenue of $361.94 million, up 6.3% over the same period last year. EPS came in at $1.76, compared to $0.89 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $413.35 million, representing a surprise of -12.44%. The company delivered an EPS surprise of +74.26%, with the consensus EPS estimate being $1.01.
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- Fulfillment fees from PennyMac Mortgage Investment Trust: $4.93 million compared to the $5.53 million average estimate based on three analysts. The reported number represents a change of -59.5% year over year.
- Revenue- Loan origination fees: $38.06 million versus $37.06 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +35.8% change.
- Revenue- Net gains on loans held for sale at fair value: $148.77 million versus $143 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +46% change.
- Revenue- Net interest income: -$5.56 million versus the three-analyst average estimate of $9.40 million.
- Revenue- Net loan servicing fees: $162.31 million versus $205.63 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -11.2% change.
- Revenue- Management fees: $7.25 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: $6.18 million versus the two-analyst average estimate of $2.97 million. The reported number represents a year-over-year change of +26.2%.
View all Key Company Metrics for PennyMac here>>>Shares of PennyMac have returned +2.6% over the past month versus the Zacks S&P 500 composite's +1.6% 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.