loanDepot (LDI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - loanDepot (LDI) reported a revenue of $265.39 million for the quarter ended June 2024, reflecting a decrease of 2.4% year-over-year, and an EPS of -$0.05, an improvement from -$0.19 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $267.66 million, resulting in a surprise of -0.85%, while the EPS exceeded expectations by 37.50% against a consensus estimate of -$0.08 [1] Revenue Metrics - Net interest income was reported at -$0.63 million, significantly below the two-analyst average estimate of $2.10 million, marking a year-over-year decline of 122.1% [3] - Other income amounted to $15.31 million, which was lower than the average estimate of $23 million, representing a year-over-year decrease of 10.2% [4] - Servicing fee income reached $125.08 million, slightly below the average estimate of $127.40 million, but showed a year-over-year increase of 6.2% [5] - The change in fair value of servicing rights, net, was reported at -$60.79 million, worse than the average estimate of -$45.30 million, but indicated a year-over-year improvement of 58% [6] Stock Performance - Over the past month, loanDepot's shares have returned +38.1%, contrasting with the Zacks S&P 500 composite's decline of -6.7% [6] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [6]