Pennymac Financial Services (PFSI) Tops Q3 EPS by $1.69, Revenues Beat

Pennymac Financial Services (NYSE: PFSI) reported Q3 EPS of $7.03, $1.69 better than the analyst estimate of $5.34. Revenue for the quarter came in at $1.12 billion versus the consensus estimate of $957.77 million.

“PennyMac Financial again delivered record earnings in the third quarter, driven by increases in income from both our production and servicing segments,” said President and CEO David Spector. “Record production income resulted from outstanding performance across all channels and continued growth in our higher-margin consumer and broker direct lending channels. We continue to add capacity for further growth and now have more than 6,000 PennyMac employees throughout our operations across the country. Our servicing portfolio grew to over $400 billion in UPB thanks to our record production volumes which more than offset elevated prepayment speeds, and servicing made a significant contribution to the company's earnings driven by COVID-related loss mitigation activities.”

For earnings history and earnings-related data on Pennymac Financial Services (PFSI) click here.

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