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Mr Cooper (COOP) Q4 Earnings and Revenues Surpass Estimates
ZACKS· 2025-02-12 14:16
Mr Cooper (COOP) came out with quarterly earnings of $2.73 per share, beating the Zacks Consensus Estimate of $2.58 per share. This compares to earnings of $1.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.81%. A quarter ago, it was expected that this reinsurance company would post earnings of $2.54 per share when it actually produced earnings of $2.84, delivering a surprise of 11.81%.Over the last four quarters, the com ...
Mr. Cooper Group(COOP) - 2024 Q4 - Annual Results
2025-02-12 12:00
Financial Performance - Reported net income of $204 million, resulting in a return on common equity (ROCE) of 17.3% and an operating return on tangible common equity (ROTCE) of 15.8%[6] - Total revenues for Q4 2024 were $654 million, up from $424 million in Q3 2024[18] - Net income for Q4 2024 was $204 million, compared to $80 million in Q3 2024, marking a 155% increase[24] - Earnings per share (EPS) for Q4 2024 were $3.20 (basic) and $3.13 (diluted), up from $1.24 (basic) and $1.22 (diluted) in Q3 2024[24] - Total expenses for Q4 2024 were $367 million, an increase from $335 million in Q3 2024, reflecting a 10% rise[24] - The company reported a pretax income of $280 million in Q4 2024, compared to $112 million in Q3 2024, indicating a 150% increase[24] - Operating income for the year ended December 31, 2024, was $681 million, with a return on tangible common equity (ROTCE) of 15.6%[27] - Total revenues for the year ended December 31, 2024, were $2,225 million, up from $1,664 million in the previous year, representing a 33.5% increase[27] Servicing Portfolio - Servicing portfolio grew 57% year-over-year to $1,556 billion, with pretax operating income of $318 million excluding mark-to-market adjustments[5] - Average unpaid principal balance (UPB) for the servicing portfolio was $1,407 billion, with a 60+ day delinquency rate of 1.6%[7] - The annualized conditional prepayment rate (CPR) was 7.5%, compared to 7.1% in the previous quarter[7] Shareholder Actions - The company repurchased 0.4 million shares of common stock for $38 million during the quarter[6] Acquisitions and Recognition - Completed the acquisition of Flagstar's mortgage operations, enhancing the customer base and operational capabilities[4] - The company recognized as the top mortgage servicer by Freddie Mac, receiving the 2024 SHARP Gold Award[6] Other Income and Financial Metrics - The company’s net gain on mortgage loans held for sale in Q4 2024 was $117 million, compared to $136 million in Q3 2024, showing a decrease of 14%[24] - The company’s total other income (expense), net for Q4 2024 was $(7) million, a decline from $23 million in Q3 2024, indicating a negative shift[24] Book Value - Book value per share increased to $75.70 and tangible book value per share increased to $71.61[6] - The average tangible book value (TBV) for Q4 2024 was $4,514 million, compared to $4,451 million in Q3 2024, reflecting a 1.4% increase[24] Originations Segment - Originations segment earned pretax income of $46 million, with funded volume increasing 36% quarter-over-quarter to approximately $9.3 billion[8][11]
Buy These 5 Value Stocks Boasting High Earnings Yield Right Away
ZACKS· 2024-11-14 13:30
Value investing is a time-tested strategy that focuses on finding assets trading for less than their intrinsic value, allowing investors to buy such undervalued assets at a discount. This approach hinges on the idea that market prices often don’t fully reflect a company’s fundamentals, providing opportunities to benefit from market corrections in the long run.A key metric for value investors is earnings yield, which offers insight into a stock’s profitability relative to its market price. Earnings yield is ...
Buy These 2 Consumer Loan Stocks Despite Industry Challenges
ZACKS· 2024-11-05 14:16
The Zacks Consumer Loans industry continues to witness weakening asset quality. The industry also bears the brunt of inflation, relatively higher rates and a challenging macroeconomic backdrop. Though the Federal Reserve plans to cut rates as soon as September, consumers understand that high interest rates are here to stay for some time, and demand for the loans is likely to witness modest improvement. Yet, easing lending standards, stabilizing consumer sentiments and digitizing operations will support cons ...
4 High Earnings Yield Picks to Supercharge Your Portfolio Value
ZACKS· 2024-10-29 13:50
Last month, the Federal Reserve made a notable 50-basis point rate cut, marking its first reduction since March 2020. Investors remain optimistic that the Fed might enact two additional cuts this year, but concerns over a slowing economy have raised doubts about the pace of these reductions. With the U.S. presidential election just weeks away, market volatility is expected to rise. In this climate, value investing could be a sound strategy, allowing investors to buy undervalued stocks and potentially realiz ...
Mr. Cooper Q3 Earnings Surpass Estimates, Revenues Decline Y/Y
ZACKS· 2024-10-24 15:25
Mr. Cooper Group Inc. (COOP) reported third-quarter 2024 adjusted earnings per share of $2.84, which beat the Zacks Consensus Estimate by 11.8%. The bottom line rose 1.8% year over year.Find the latest earnings estimates and surprises on the Zacks Earnings Calendar.Solid growth in the Servicing and Originations segments were major tailwinds for the company in the third quarter. The servicing portfolio increased year over year, surpassing the $1.2-trillion mark. However, a decline in revenues and an increase ...
Mr. Cooper Group(COOP) - 2024 Q3 - Earnings Call Presentation
2024-10-23 17:00
1 | 3Q'24 EARNINGS REVIEW October 23rd, 2024 This presentation contains summarized information concerning Mr. Cooper Group Inc. ("Mr. Cooper" or the "Company") and the Company's business, operations, financial performance and trends. No representation is made that the information in this presentation is complete. For additional financial, statistical and business related information, as well as information regarding business and segment trends, see the Company's most recent Annual Report on Form 10-K ("Form ...
Mr. Cooper Group(COOP) - 2024 Q3 - Earnings Call Transcript
2024-10-23 17:00
Financial Data and Key Metrics Changes - The company reported pre-tax operating income of $246 million and operating ROTCE of 16.8%, at the upper end of guidance [4] - Tangible book value increased by 11% year-over-year to $69.93 per share [4] - The capital ratio stood at 27.9% with liquidity at a record high of $4.1 billion [4][25] Business Line Data and Key Metrics Changes - The servicing portfolio grew to $1.2 trillion, serving 5.4 million customers, generating $305 million in pre-tax servicing income, a 38% year-over-year increase [5][13] - The Originations segment generated $69 million in pre-tax income, significantly exceeding guidance, attributed to a drop in mortgage rates and investments in direct-to-consumer and correspondent platforms [5][17] Market Data and Key Metrics Changes - CPRs rose sequentially from 5.5% to 6.2%, leading to higher amortization in the quarter [13] - The company anticipates continued growth in the correspondent channel, with volumes more than doubling from the second quarter [19] Company Strategy and Development Direction - The company aims to enhance customer experience through investments in AI and digital platforms, including the Agent IQ coaching platform [9][15] - The acquisition of Flagstar is expected to close in the fourth quarter, increasing the customer base to over 6 million [6][7] - The company is focused on maintaining a balanced business model to leverage opportunities in both servicing and originations [29][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate changing interest rates and market conditions, emphasizing a strong operational leverage [13][27] - The outlook for 2025 ROTCE is anticipated to be at the midpoint of the 14% to 18% guidance range, driven by growth in originations and efficiencies in servicing [27][61] Other Important Information - The company has been recognized as a Great Place to Work for six consecutive years, reflecting its commitment to employee culture [6] - The company is actively managing its credit quality, with MSR delinquencies slightly up to 1.1%, but still performing strongly compared to industry standards [24] Q&A Session Summary Question: Guidance for originations in the fourth quarter - The company provided a guidance range of $45 million to $65 million for pre-tax originations income, influenced by recent mortgage rate fluctuations [28][29] Question: Performance in DTC channel versus expectations - The DTC channel performed in line with expectations, with significant shifts towards rate-term refinances due to lower rates [30][31] Question: Pipeline for bulk servicing acquisitions - The company is optimistic about future bulk servicing opportunities, with significant capacity for acquisitions post-Flagstar [33][34] Question: Corporate expense normalization - Corporate expenses are expected to normalize around $40 million in the fourth quarter, following some one-time costs in the current quarter [53] Question: Ginnie Mae capital rules impact - The company is well-capitalized relative to Ginnie Mae's standards and anticipates that the implementation of these rules could catalyze bulk servicing trades [56]
Mr Cooper (COOP) Surpasses Q3 Earnings Estimates
ZACKS· 2024-10-23 13:15
Mr Cooper (COOP) came out with quarterly earnings of $2.84 per share, beating the Zacks Consensus Estimate of $2.54 per share. This compares to earnings of $2.79 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.81%. A quarter ago, it was expected that this reinsurance company would post earnings of $2.33 per share when it actually produced earnings of $2.52, delivering a surprise of 8.15%.Over the last four quarters, the com ...
Mr. Cooper Group(COOP) - 2024 Q3 - Quarterly Report
2024-10-23 11:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________________________________________________________________________________ FORM 10-Q ________________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANG ...