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PennyMac (PFSI) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

PennyMac Financial (PFSI) reported $305.66 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 0.9%. EPS of $2.48 for the same period compares to $0.57 a year ago.

The reported revenue represents a surprise of -27.72% over the Zacks Consensus Estimate of $422.87 million. With the consensus EPS estimate being $2.34, the EPS surprise was +5.98%.

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.

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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: $162.44 million versus $149.13 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +55.6% change.

  • Revenue- Loan origination fees: $36.37 million versus the three-analyst average estimate of $34.60 million. The reported number represents a year-over-year change of +15.9%.

  • Revenue- Net interest income: -$9.34 million versus -$2.74 million estimated by three analysts on average.

  • Revenue- Loan servicing fees: $424.18 million compared to the $412.78 million average estimate based on three analysts.

  • Revenue- Fulfillment fees from PMT: $4.02 million versus the three-analyst average estimate of $4.88 million. The reported number represents a year-over-year change of -66.3%.

  • Revenue- Management fees: $7.19 million versus $7.10 million estimated by two analysts on average.

  • Revenue- Other: $4.03 million versus $4.49 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +1049% change.

View all Key Company Metrics for PennyMac here>>>

Shares of PennyMac have returned +4.3% over the past month versus the Zacks S&P 500 composite's -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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PennyMac Financial Services, Inc. (PFSI) : Free Stock Analysis Report

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Zacks Investment Research