NYSE$PFSI
PennyMac Financial Services Inc. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
PennyMac Financial reported net income for the third quarter of 2024 with increased revenue and growth in the servicing portfolio.
PennyMac Financial Services reported a net income of $69.4 million for Q3 2024, with revenue reaching $411.8 million. The production segment saw a significant increase in pretax income, while the servicing portfolio continued to expand, driving revenue and cash flow.
- Net income for the third quarter of 2024 was $69.4 million, or $1.30 per share on a diluted basis.
- Revenue for the quarter reached $411.8 million.
- The servicing portfolio grew to nearly $650 billion in unpaid principal balance.
- Production segment pretax income nearly tripled from last quarter.
Headline financials
Revenue & EPS history
PennyMac · Revenue · Quarterly
$11.3M
Revenue by segment
PennyMac · $392M total across 2 segments · Q3 2023
- Servicing Segment$217M-18.5%55.5%
- Production Segment$174M-12.6%44.5%
Forward guidance
PennyMac Financial expects to continue delivering strong financial results with annualized operating returns on equity in the high-teens to low-twenties, anchored by the continued growth of its servicing portfolio and low-cost structure, despite interest rate volatility.
Tailwinds
- Continued growth of the servicing portfolio.
- Low-cost structure.
- Strong financial results.
- Annualized operating returns on equity in the high-teens to low-twenties.
- Ability to handle large, growing volumes of loans at the highest quality standards.
Headwinds
- Interest rate changes
- Changes in real estate values, housing prices and housing sales
- Changes in macroeconomic, consumer and real estate market conditions
- Continually changing federal, state and local laws and regulations
- Interest rate volatility
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 Q3 2024
+0.6%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+2.7%
Avg return
30 days after
44%
23 / 52 earnings
Positive
+19.8%
Q2 2016
Best reaction
-33.2%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.5% | +0.8% | -7.3% | |
| Q4 2025 | -33.2% | -35.8% | -38.6% | |
| Q3 2025 | +6.3% | +10.0% | +4.4% | |
| Q2 2025 | -1.3% | -2.9% | +14.9% | |
| Q1 2025 | -2.7% | -1.7% | -1.8% | |
| Q4 2024 | -8.8% | -8.3% | -9.7% | |
| Q3 2024 | -4.7% | -3.9% | -0.9% | |
| Q2 2024 | -2.7% | +0.7% | +0.3% | |
| Q1 2024 | -7.1% | -5.8% | -1.6% | |
| Q4 2023 | +6.9% | +2.9% | -2.1% | |
| Q3 2023 | +10.4% | +6.7% | +22.7% | |
| Q2 2023 | -6.9% | -8.5% | -15.6% | |
| Q1 2023 | -2.4% | -6.5% | -5.6% | |
| Q4 2022 | -3.9% | -3.9% | -8.7% | |
| Q3 2022 | +16.9% | +11.0% | +22.4% | |
| Q2 2022 | +4.1% | +1.0% | -6.1% | |
| Q1 2022 | -4.7% | -8.2% | -3.9% | |
| Q4 2021 | -0.8% | +2.1% | -0.9% | |
| Q3 2021 | +3.0% | +2.4% | +4.3% | |
| Q2 2021 | +10.9% | +7.6% | +5.3% | |
| Q1 2021 | -5.0% | -3.3% | +1.4% | |
| Q4 2020 | +2.8% | -1.0% | -1.8% | |
| Q3 2020 | -1.2% | -0.5% | +5.7% | |
| Q2 2020 | +3.1% | +4.6% | +1.1% | |
| Q1 2020 | +8.1% | +1.9% | +26.0% | |
| Q4 2019 | +8.1% | +5.0% | +4.0% | |
| Q3 2019 | -1.2% | -2.8% | +9.3% | |
| Q2 2019 | +5.3% | +8.7% | +23.2% | |
| Q1 2019 | +5.6% | +5.7% | -4.0% | |
| Q4 2018 | +4.8% | +4.5% | +6.4% | |
| Q3 2018 | -0.4% | +4.1% | +2.6% | |
| Q2 2018 | +14.6% | +11.2% | +10.4% | |
| Q1 2018 | -6.7% | -2.6% | -5.2% | |
| Q4 2017 | +1.2% | +3.2% | +12.4% | |
| Q3 2017 | -0.3% | +0.3% | +14.2% | |
| Q2 2017 | -3.7% | -2.0% | -3.4% | |
| Q1 2017 | -6.7% | -5.5% | -3.8% | |
| Q4 2016 | +10.6% | +11.8% | +5.0% | |
| Q3 2016 | +4.7% | +5.6% | +4.4% | |
| Q2 2016 | +19.8% | +20.8% | +28.5% | |
| Q1 2016 | -5.1% | — | — | |
| Q4 2015 | -3.8% | — | — | |
| Q3 2015 | -1.0% | — | — | |
| Q2 2015 | -3.1% | — | — | |
| Q1 2015 | +0.3% | — | — | |
| Q4 2014 | -4.3% | — | — | |
| Q3 2014 | -3.3% | — | — | |
| Q2 2014 | +0.1% | — | — | |
| Q1 2014 | +8.6% | — | — | |
| Q4 2013 | -0.7% | — | — | |
| Q3 2013 | -1.7% | — | — | |
| Q2 2013 | -0.2% | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — |
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