PennyMac: Q3 Earnings Snapshot
By AP News
Published - Oct 22, 2024, 04:41 PM ET
Last Updated - Dec 16, 2024, 06:06 PM EST
WESTLAKE VILLAGE, Calif. (AP) — WESTLAKE VILLAGE, Calif. (AP) — PennyMac Financial Services Inc. (PFSI) on Tuesday reported third-quarter net income of $69.4 million.
On a per-share basis, the Westlake Village, California-based company said it had profit of $1.30. Earnings, adjusted for one-time gains and costs, were $3.49 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.92 per share.
The mortgage banking and investment management company posted revenue of $411.8 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $490.6 million.
