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Mar 31, 2024
PennyMac Q1 2024 Earnings Report
PennyMac Financial reported strong operating earnings driven by volume increases in consumer and broker direct channels, though net fair value declines on MSRs and hedges impacted results.
Key Takeaways
PennyMac Financial Services, Inc. reported a net income of $39.3 million for Q1 2024, with earnings per share (EPS) of $0.74 on revenue of $305.7 million.
Strong operating earnings were reported, with a 15% annualized operating return on equity.
Volume increases in consumer and broker direct channels drove profitability in the production segment.
The servicing portfolio continues to anchor financial performance, contributing to revenue and cash earnings.
PennyMac Financial is well-positioned for future growth due to its balanced business model and leading positions in loan production and servicing.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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