PennyMac Mortgage (PMT) Reports Q3 Earnings: What Key Metrics Have to Say

Core Insights - PennyMac Mortgage (PMT) reported a revenue of $80.86 million for the quarter ended September 2024, reflecting a 50.5% decrease compared to the same period last year [1] - The earnings per share (EPS) was $0.36, down from $0.51 in the year-ago quarter, with a surprise of -2.70% against the consensus estimate of $0.37 [1] - The reported revenue was also below the Zacks Consensus Estimate of $93.75 million, resulting in a surprise of -13.75% [1] Financial Performance Metrics - Net interest income (expense) was reported at -$7.44 million, better than the estimated -$19.15 million [1] - Loan origination fees amounted to $6.64 million, exceeding the estimated $4.65 million [1] - Net loan servicing fee was -$85.08 million, significantly worse than the estimated -$19.47 million [1] - Net gains (losses) on loans acquired for sale were $20.06 million, slightly below the average estimate of $23.13 million [1] Stock Performance - Over the past month, shares of PennyMac Mortgage have returned -2.5%, contrasting with the Zacks S&P 500 composite's +2.8% change [2] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [2]