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Dec 31, 2024
PennyMac Q4 2024 Earnings Report
PennyMac Financial reported strong fourth quarter results driven by continued strength in servicing and a solid contribution from production.
Key Takeaways
PennyMac Financial Services, Inc. reported net income of $104.5 million for the fourth quarter of 2024, or $1.95 per share on a diluted basis, on revenue of $470.1 million. The company's servicing portfolio grew to $666 billion in unpaid principal balance at year end.
Net income for the fourth quarter of 2024 was $104.5 million, or $1.95 per share.
Revenue for the fourth quarter of 2024 was $470.1 million.
Book value per share increased to $74.54.
The total servicing portfolio grew to $665.8 billion in UPB.
Revenue by Segment
Forward Guidance
PennyMac Financial is well-positioned for continued growth and execution, regardless of interest rate paths, with a best-in-class management team and significant scale.
Positive Outlook
- PennyMac Financial has a best-in-class management team.
- The company has built a platform with significant scale.
- PennyMac Financial is committed to unlocking additional efficiencies through continued investments in workflow and technology.
- The company is confident in its ability to continue driving strong financial performance in a higher rate environment.
- Increases in the origination market are expected when mortgage rates decline.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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