NYSE$ONIT
Onity Group Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Delivered sequential quarter increase in adjusted pre-tax income, driven by the servicing segment, culminating in strong full year 2023 results.
Ocwen Financial Corporation reported a GAAP net loss of $47 million for the fourth quarter, with an adjusted pre-tax income of $11 million. The company's performance was driven by its servicing segment and opportunistic asset management transactions.
- Delivered another sequential quarter increase in adjusted pre-tax income, driven by servicing segment.
- Industry-leading servicing cost and operating performance, combined with special servicing capabilities, positioned to execute on opportunistic asset management transactions.
- Originations delivered year-over-year growth in average total servicing and subservicing UPB.
- Increased target MSR hedge coverage ratio throughout the year, currently at 100%.
Headline financials
Revenue & EPS history
Onity · Revenue · Quarterly
$321M
Forward guidance
Ocwen anticipates strong results in 2024 and beyond, supported by its balanced and diversified business model and best-in-class servicing platform.
Tailwinds
- Balanced and diversified business
- Best-in-class servicing platform
- Broad originations capabilities
- Successful execution of strategic priorities
- Resilience of the team
Headwinds
- Potential for ongoing disruption in the financial markets
- Changes in monetary and fiscal policy
- Impacts of inflation, employment disruption, and other financial difficulties facing borrowers
- Impact of recent failures and re-organization of banking institutions and continued uncertainty in the banking industry
- Ability to timely reduce operating costs, or generate offsetting revenue, in proportion to the industry-wide decrease in originations activity
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-1.4%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+1.8%
Avg return
30 days after
53%
34 / 64 earnings
Positive
+67.5%
Q1 2020
Best reaction
-65.7%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.2% | -17.5% | -21.8% | |
| Q4 2025 | +6.1% | +11.3% | -8.3% | |
| Q3 2025 | +1.8% | +0.0% | +13.7% | |
| Q1 2025 | +5.6% | +5.4% | +4.3% | |
| Q4 2024 | -7.9% | -14.9% | -22.9% | |
| Q3 2024 | +3.5% | +3.6% | +9.7% | |
| Q2 2024 | -8.8% | -15.7% | -0.9% | |
| Q1 2024 | +6.4% | +12.3% | +1.4% | |
| Q4 2023 | -8.1% | -7.8% | -4.6% | |
| Q3 2023 | -2.2% | +0.3% | +12.3% | |
| Q2 2023 | -2.4% | -5.8% | -12.6% | |
| Q1 2023 | +1.8% | -0.7% | +3.6% | |
| Q4 2022 | -14.9% | -13.1% | -28.4% | |
| Q3 2022 | +24.3% | +20.8% | +16.5% | |
| Q2 2022 | -20.0% | -21.3% | -25.8% | |
| Q1 2022 | +7.6% | +3.4% | +32.7% | |
| Q4 2021 | -18.6% | -20.2% | -29.1% | |
| Q3 2021 | +9.1% | +1.9% | +10.1% | |
| Q2 2021 | -0.2% | +5.3% | +4.1% | |
| Q1 2021 | +9.8% | +26.8% | +24.1% | |
| Q4 2020 | +3.9% | -1.8% | -3.4% | |
| Q3 2020 | +2.5% | -0.3% | +0.4% | |
| Q2 2020 | +11.6% | +24.0% | -9.8% | |
| Q1 2020 | +67.5% | +40.0% | +97.5% | |
| Q4 2019 | +5.4% | +0.8% | -55.8% | |
| Q3 2019 | +0.0% | -1.1% | -17.1% | |
| Q2 2019 | -12.1% | -7.3% | +6.7% | |
| Q1 2019 | +6.9% | +8.1% | -7.5% | |
| Q4 2018 | +12.0% | +13.6% | -4.7% | |
| Q3 2018 | -19.2% | -25.7% | -52.0% | |
| Q2 2018 | -9.4% | -8.3% | -0.7% | |
| Q1 2018 | +10.2% | +14.8% | +8.5% | |
| Q4 2017 | +5.6% | +12.8% | +22.3% | |
| Q3 2017 | +0.9% | -6.4% | -5.0% | |
| Q2 2017 | +0.7% | -0.7% | +2.8% | |
| Q1 2017 | -15.4% | -17.1% | -10.0% | |
| Q4 2016 | -20.2% | -20.4% | -13.2% | |
| Q3 2016 | +10.2% | +14.2% | +37.7% | |
| Q2 2016 | +4.0% | +17.8% | +94.8% | |
| Q1 2016 | -20.7% | — | — | |
| Q4 2015 | -65.7% | — | — | |
| Q3 2015 | +0.4% | — | — | |
| Q2 2015 | -27.0% | — | — | |
| Q1 2015 | +18.2% | — | — | |
| Q4 2014 | -9.2% | — | — | |
| Q3 2014 | +13.2% | — | — | |
| Q2 2014 | -20.1% | — | — | |
| Q1 2014 | -8.8% | — | — | |
| Q4 2013 | +1.8% | — | — | |
| Q3 2013 | -9.6% | — | — | |
| Q2 2013 | +7.1% | — | — | |
| Q1 2013 | +2.0% | — | — | |
| Q4 2011 | +3.3% | — | — | |
| Q4 2012 | +6.0% | — | — | |
| Q3 2012 | -7.4% | — | — | |
| Q2 2012 | +2.7% | — | — | |
| Q1 2012 | +1.4% | — | — | |
| Q3 2010 | -10.7% | — | — | |
| Q3 2011 | -10.7% | — | — | |
| Q2 2011 | +0.2% | — | — | |
| Q1 2011 | -1.9% | — | — | |
| Q2 2010 | -1.9% | — | — | |
| Q4 2010 | -1.9% | — | — | |
| Q1 2010 | -1.9% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro