PennyMac: Q1 Earnings Snapshot
By AP News
Published - Apr 24, 2024, 04:37 PM ET
Last Updated - Apr 24, 2024, 04:37 PM EDT
WESTLAKE VILLAGE, Calif. (AP) — WESTLAKE VILLAGE, Calif. (AP) — PennyMac Financial Services Inc. (PFSI) on Wednesday reported first-quarter net income of $39.3 million.
The Westlake Village, California-based company said it had profit of 74 cents per share. Earnings, adjusted for one-time gains and costs, came to $2.48 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.34 per share.
The mortgage banking and investment management company posted revenue of $305.7 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $422.9 million.
