Mr. Cooper Group(US:COOP) ZACKSยท2025-02-13 18:35Core Viewpoint - Mr. Cooper Group Inc. demonstrated strong financial performance in the fourth quarter of 2024, with adjusted earnings per share surpassing estimates and significant year-over-year growth in net income, driven by improvements in the Servicing and Originations segments [1][2][12]. Financial Performance - Adjusted earnings per share for Q4 2024 were $2.73, exceeding the Zacks Consensus Estimate by 5.8%, and reflecting a 59.6% increase year over year [1] - Net income for Q4 2024 was $204 million, a substantial rise from $46 million in the same quarter last year [2] - For the full year 2024, adjusted earnings per share reached $10.19, beating the consensus estimate of $10.18, and up from $7.30 in 2023 [3] Revenue and Expenses - Total revenues for Q4 2024 declined by 49.5% year over year to $654 million, missing the consensus mark by 11.6% [4] - Full-year revenues were $2.22 billion, exceeding the Zacks Consensus Estimate of $2.18 billion, and representing an 89.8% increase from 2023 [4] - Total expenses in Q4 2024 grew by 10.5% year over year to $367 million [4] Segment Performance - The Servicing segment reported a pre-tax operating income of $318 million, up 38.9% year over year, with total revenues of $502 million, a 58.9% increase from the previous year [6] - The Originations segment's pre-tax operating income rose to $47 million from $10 million a year ago, with total revenues of $135 million, up from $67 million [7] Financial Position - As of December 31, 2024, total assets were $18.9 billion, an increase from $16.2 billion at the end of Q3 2024 [8] - Cash and cash equivalents amounted to $753 million, up from $733 million in the previous quarter [8] - Total liabilities increased to $14.1 billion from $11.5 billion at the end of Q3 2024, while total shareholders' equity rose to $18.9 billion from $16.2 billion [9] Capital Deployment - The company repurchased 0.4 million shares for $38 million during the quarter [10]