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PennyMac (PFSI) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2024, PennyMac Financial (PFSI - Free Report) reported revenue of $411.83 million, up 2.9% over the same period last year. EPS came in at $3.49, compared to $1.77 in the year-ago quarter.
The reported revenue represents a surprise of -16.06% over the Zacks Consensus Estimate of $490.62 million. With the consensus EPS estimate being $2.92, the EPS surprise was +19.52%.
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.
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: $256.82 million compared to the $217.17 million average estimate based on three analysts. The reported number represents a change of +69.7% year over year.
Revenue- Net interest income: $7.87 million versus -$2.33 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -18.7% change.
Revenue- Loan servicing fees: $462.04 million compared to the $446.89 million average estimate based on three analysts.
Revenue- Management fees: $7.15 million compared to the $7.70 million average estimate based on three analysts. The reported number represents a change of -0.3% year over year.
Revenue- Fulfillment fees from PMT: $11.49 million compared to the $10.30 million average estimate based on three analysts. The reported number represents a change of +107.8% year over year.
Revenue- Loan origination fees: $49.43 million versus $44.16 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +31.1% change.
Revenue- Other: $3.24 million versus the two-analyst average estimate of $9.27 million. The reported number represents a year-over-year change of -6.6%.
Shares of PennyMac have returned -6.7% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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PennyMac (PFSI) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2024, PennyMac Financial (PFSI - Free Report) reported revenue of $411.83 million, up 2.9% over the same period last year. EPS came in at $3.49, compared to $1.77 in the year-ago quarter.
The reported revenue represents a surprise of -16.06% over the Zacks Consensus Estimate of $490.62 million. With the consensus EPS estimate being $2.92, the EPS surprise was +19.52%.
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.
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: $256.82 million compared to the $217.17 million average estimate based on three analysts. The reported number represents a change of +69.7% year over year.
- Revenue- Net interest income: $7.87 million versus -$2.33 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -18.7% change.
- Revenue- Loan servicing fees: $462.04 million compared to the $446.89 million average estimate based on three analysts.
- Revenue- Management fees: $7.15 million compared to the $7.70 million average estimate based on three analysts. The reported number represents a change of -0.3% year over year.
- Revenue- Fulfillment fees from PMT: $11.49 million compared to the $10.30 million average estimate based on three analysts. The reported number represents a change of +107.8% year over year.
- Revenue- Loan origination fees: $49.43 million versus $44.16 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +31.1% change.
- Revenue- Other: $3.24 million versus the two-analyst average estimate of $9.27 million. The reported number represents a year-over-year change of -6.6%.
View all Key Company Metrics for PennyMac here>>>Shares of PennyMac have returned -6.7% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.