NYSE$UWMC
UWM Holdings Corp · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
UWM's first quarter results reflected a net loss, but purchase volume remained strong and gain margin increased from the prior quarter.
UWM Holdings Corporation reported first quarter 2023 results with a total loan origination volume of $22.3 billion, including $19.2 billion in purchase volume. The company experienced a net loss of $138.6 million, which included a $337 million decline in the fair value of mortgage servicing rights (MSRs). Despite the loss, the company saw an increase in gain margin and highlighted its strong purchase quarter.
- Originations were $22.3 billion in 1Q23, compared to $38.8 billion in 1Q22.
- Purchase originations were $19.2 billion in 1Q23, the highest first quarter purchase volume in UWM history.
- Total gain margin was 92 bps in 1Q23, compared to 99 bps in 1Q22.
- Net loss was $138.6 million in 1Q23, compared to a net income of $453.3 million in 1Q22.
Headline financials
Revenue & EPS history
UWM · Revenue · Quarterly
$161M
Revenue by segment
UWM · $161M total across 4 segments · Q1 2023
- Loan Servicing Income$219M+10.1%135.5%
- Loan Production Income$205M-46.5%127.4%
- Interest Income$74.6M+10.7%46.2%
- MSR Fair Value Change-$337M-296.1%-209.1%
Forward guidance
The company anticipates second quarter production to be in the $23 to $30 billion range, with gain margin from 75 to 100 basis points.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
-1.7%
Avg return
Earnings day
-1.2%
Avg return
5 days after
+0.5%
Avg return
30 days after
29%
6 / 21 earnings
Positive
+28.2%
Q3 2022
Best reaction
-16.8%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.2% | -11.2% | -28.4% | |
| Q4 2025 | -9.0% | -5.0% | -25.0% | |
| Q3 2025 | -10.1% | -3.4% | +1.2% | |
| Q1 2025 | -14.7% | -11.3% | -13.8% | |
| Q4 2024 | -5.8% | -0.2% | -14.6% | |
| Q3 2024 | -6.0% | -9.2% | -2.4% | |
| Q2 2024 | -6.5% | -3.8% | +2.3% | |
| Q1 2024 | -0.7% | +2.8% | +2.8% | |
| Q4 2023 | -4.9% | -4.6% | +8.2% | |
| Q3 2023 | +4.3% | +6.9% | +15.6% | |
| Q2 2023 | -1.6% | -4.0% | -16.3% | |
| Q1 2023 | -16.8% | -11.3% | -7.4% | |
| Q4 2022 | +12.7% | +11.7% | +15.3% | |
| Q3 2022 | +28.2% | +22.3% | +44.7% | |
| Q2 2022 | -0.5% | +1.0% | -9.2% | |
| Q1 2022 | +0.3% | +8.9% | +18.1% | |
| Q4 2021 | +7.4% | -4.1% | +4.4% | |
| Q3 2021 | -1.5% | -2.2% | -3.8% | |
| Q2 2021 | -7.0% | -7.6% | -8.5% | |
| Q1 2021 | -2.4% | +7.9% | +43.1% | |
| Q4 2020 | +0.6% | -7.9% | -16.0% | |
| Q4 2019 | — | — | — |
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