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HomeStreet: 1Q Earnings Snapshot

SEATTLE (AP) _ HomeStreet Inc. (HMST) on Tuesday reported a first-quarter loss of $1.7 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Seattle-based company said it had a loss of 6 cents. Earnings, adjusted to account for discontinued operations and non-recurring costs, were 30 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The real estate lender posted revenue of $76.8 million in the period. Its adjusted revenue was $55.6 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $102.3 million.

HomeStreet shares have climbed 36% since the beginning of the year. The stock has climbed 12% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HMST at https://www.zacks.com/ap/HMST