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Compared to Estimates, UWM (UWMC) Q1 Earnings: A Look at Key Metrics

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For the quarter ended March 2024, UWM Holdings Corporation (UWMC - Free Report) reported revenue of $569.96 million, up 253.4% over the same period last year. EPS came in at $0.00, compared to -$0.07 in the year-ago quarter.

The reported revenue represents a surprise of +22.13% over the Zacks Consensus Estimate of $466.69 million. With the consensus EPS estimate being $0.04, the EPS surprise was -100.00%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how UWM performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Loan production income: $298.95 million versus $240.51 million estimated by four analysts on average.
  • Revenue- Interest income: $101.86 million versus the four-analyst average estimate of $91.33 million.
  • Revenue- Loan servicing income: $184.70 million compared to the $204.27 million average estimate based on four analysts.
  • Revenue- Change in fair value of mortgage servicing rights: -$15.56 million compared to the -$61.90 million average estimate based on four analysts.
View all Key Company Metrics for UWM here>>>

Shares of UWM have returned +14.2% over the past month versus the Zacks S&P 500 composite's -0.3% 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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