UWM (US:UWMC) ZACKSยท2024-11-07 16:00Core Insights - UWM Holdings Corporation (UWMC) reported a revenue of $526.43 million for Q3 2024, reflecting a year-over-year decline of 22.3% and an EPS of $0.01 compared to $0.29 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $517.02 million by 1.82%, while the EPS fell short of the consensus estimate of $0.08 by 87.50% [1] Revenue Breakdown - Loan production income was reported at $465.55 million, surpassing the average estimate of $389.24 million by four analysts, marking a year-over-year increase of 61.1% [3] - Interest income reached $145.30 million, exceeding the average estimate of $121.12 million, with a year-over-year growth of 53.2% [3] - Loan servicing income was $134.75 million, slightly below the estimated $140.80 million, representing a decline of 32.8% year-over-year [3] - The change in fair value of mortgage servicing rights was reported at -$446.10 million, significantly worse than the average estimate of -$120.25 million, indicating a year-over-year change of -580.2% [3] Stock Performance - UWM shares have declined by 9.6% over the past month, contrasting with the Zacks S&P 500 composite's increase of 3.2% [4] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [4]