Pennymac Mortgage Trust (PMT) Tops Q3 EPS by 19c

Pennymac Mortgage Trust (NYSE: PMT) reported Q3 EPS of $0.71, $0.19 better than the analyst estimate of $0.52. Revenue for the quarter came in at $130.8 million versus the consensus estimate of $125.53 million.

“Strong execution in the lower interest rate environment drove record levels of conventional loan production in the third quarter, further accelerating our capital deployment into long-term organic investments in CRT securities and MSRs,” said President and CEO David Spector. “Our CRT investments continued to see strong performance, driven by strong credit markets as evidenced by spread tightening. Our focus on interest rate risk management substantially offset fair value losses on our MSR investments, and the lower rates also drove strong profits in our Correspondent Production segment. As a result PMT produced strong quarterly earnings and book value growth despite the volatile market environment. Looking ahead, we remain confident in PMT’s ability to leverage its market position and the expertise of its manager and service provider, PennyMac Financial, to continue deploying capital in new investments and providing attractive risk-adjusted returns to its shareholders.”

For earnings history and earnings-related data on Pennymac Mortgage Trust (PMT) click here.

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