PennyMac (PFSI) Reports Q2 Earnings: What Key Metrics Have to Say
PennyMac Financial (PFSI) reported $336.55 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 34.2%. EPS of $1.11 for the same period compares to $2.28 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $391.93 million, representing a surprise of -14.13%. The company has not delivered EPS surprise, with the consensus EPS estimate being $1.11.
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- Fulfillment fees from PennyMac Mortgage Investment Trust: $5.44 million versus $15.62 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -73.7% change.
Revenue- Loan origination fees: $38.97 million versus $35.27 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -2.5% change.
Revenue- Net gains on loans held for sale at fair value: $141.42 million versus $118.29 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -36.5% change.
Revenue- Management fees: $7.08 million versus $6.65 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -10.5% change.
Revenue- Net interest income: -$5.69 million versus the two-analyst average estimate of -$2.80 million.
Revenue- Other: $3.25 million versus the two-analyst average estimate of $2.70 million. The reported number represents a year-over-year change of -0.3%.
Revenue- Net loan servicing fees: $146.08 million versus $184.05 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -38.7% change.
View all Key Company Metrics for PennyMac here>>>
Shares of PennyMac have returned +13.6% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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PennyMac Financial Services, Inc. (PFSI) : Free Stock Analysis Report
