Hilltop (HTH) Q1 2025 Earnings Call April 25, 2025 09:00 AM ET Company Participants Matthew Dunn - Corporate Development Officer & Head of Investor RelationsJeremy Ford - President and Chief Executive OfficerWilliam Furr - Executive VP & CFOWoody Lay - Vice PresidentTim Mitchell - Equity Research AssociateJordan Ghent - Senior Research Associate Conference Call Participants Andrew Gorczyca - Research Analyst Operator morning, ladies and gentlemen, and welcome to the Hilltop Holdings First Quarter twenty twe ...

Core Viewpoint - The article emphasizes the importance of focusing on dividend income rather than stock price volatility, especially in the current uncertain economic environment. It highlights three specific stocks that offer reliable dividends. Group 1: TD Bank - TD Bank's shares are nearly 30% below their 2022 highs, placing it in a bear market, which has resulted in a historically high yield of around 5% [2][3] - Despite regulatory challenges due to money laundering issues in its U.S. business, TD Bank's core Canadian operations remain strong, allowing it to sustain and grow its dividend, which was recently raised by 3% [3] - The bank's ability to provide a reliable and growing dividend makes it a low-risk investment opportunity for conservative investors [3] Group 2: Vici Properties - Vici Properties is a net lease REIT primarily investing in casinos, which is perceived as risky; however, it does not operate the casinos and will continue to receive rent payments regardless of the economic conditions [4][5] - The REIT has consistently increased its dividend since its IPO, with a current yield of 5.3%, supported by long-term leases that include inflation-based rent hikes [5] - Vici's business model is designed to maintain dividends even during economic downturns, making it a stable investment option [5] Group 3: Enbridge - Enbridge is a North American midstream company with reliable cash flows from transporting oil and natural gas, allowing it to increase its dividend annually for 30 consecutive years [6][7] - The company is diversifying its operations, with 25% of its business focused on regulated natural gas utilities and clean energy, positioning it for long-term sustainability [7] - Enbridge offers a dividend yield of 5.7%, appealing to investors looking for both current income and long-term growth potential [6][7]

Mr Cooper Group (COOP) Q1 2025 Earnings Call April 23, 2025 07:00 AM ET Company Participants Kenneth Posner - Senior Vice President of Strategic Planning & Investor RelationsJay Bray - Chairman & CEOMike Weinbach - PresidentKurt Johnson - Executive VP & CFO Kenneth Posner Good morning. My name is Ken Poster, and I'm SVP of Strategic Planning and Investor Relations at Mr. Cooper Group. With me today are Jay Bray, Chairman and CEO Mike Weinbach, President and Curt Johnson, Executive Vice President and CFO. Th ...

Group 1 - PennyMac Financial (PFSI) reported revenue of $430.9 million for Q1 2025, a 41% year-over-year increase, but fell short of the Zacks Consensus Estimate of $537.99 million by 19.91% [1] - The company's EPS for the quarter was $1.42, down from $2.48 a year ago, representing an EPS surprise of -52.51% against the consensus estimate of $2.99 [1] - Over the past month, PennyMac's shares returned -8.5%, slightly better than the Zacks S&P 500 composite's -8.9% change, with a Zacks Rank 4 (Sell) indicating potential underperformance [3] Group 2 - Net interest income was reported at -$18.21 million, significantly worse than the average estimate of -$3.66 million, but showed a year-over-year change of +94.9% [4] - Loan servicing fees amounted to $488.47 million, exceeding the average estimate of $483.14 million, with a year-over-year increase of +15.2% [4] - Net gains on loans held for sale at fair value were $221.04 million, below the average estimate of $243.05 million, but represented a +36.1% year-over-year change [4] - Management fees from PennyMac Mortgage Investment Trust were $7.01 million, slightly below the average estimate of $7.17 million, reflecting a -2.5% year-over-year change [4] - Loan origination fees reached $46.61 million, surpassing the average estimate of $43.67 million, with a year-over-year increase of +28.2% [4] - Net loan servicing fees were reported at $164.29 million, significantly lower than the average estimate of $242.12 million, but showed a +62.7% year-over-year change [4] - Fulfillment fees from PennyMac Mortgage Investment Trust were $5.29 million, slightly above the average estimate of $5 million, with a year-over-year increase of +31.7% [4]

PennyMac Mortgage Investment Trust (PMT) Q1 2025 Earnings Call April 22, 2025 06:00 PM ET Company Participants David Spector - CEO & ChairmanDaniel Perotti - Senior MD & CFOBose George - Managing DirectorJason Weaver - Managing Director - Equity ResearchTrevor Cranston - Managing DirectorEric Hagen - Managing Director Conference Call Participants Doug Harter - Equity Research Analyst Operator Good afternoon, and welcome to PennyMac Mortgage Investment Trust First Quarter twenty twenty five Earnings Call. Ad ...

PennyMac Mortgage Investment Trust (NYSE:PMT) Q1 2025 Earnings Conference Call April 22, 2025 6:00 PM ET Company Participants David Spector - Chairman & Chief Executive Officer Dan Perotti - Chief Financial Officer Conference Call Participants Bose George - KBW Jason Weaver - Jones Trading Doug Harter - UBS Trevor Cranston - Citizens JMP Eric Hagen - BTIG Operator Good afternoon, and welcome to PennyMac Mortgage Investment Trust First Quarter 2025 Earnings Call. Additional earnings materials, including the ...

Core Viewpoint - PennyMac Financial (PFSI) reported quarterly earnings of $1.42 per share, significantly missing the Zacks Consensus Estimate of $2.99 per share, and down from $2.48 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was -52.51%, with the company previously expected to post earnings of $3.05 per share but actually reporting $2.88 per share, resulting in a -5.57% surprise [2] - Revenues for the quarter were $430.9 million, missing the Zacks Consensus Estimate by 19.91%, compared to $305.66 million in the same quarter last year [3] - Over the last four quarters, the company has not been able to beat consensus revenue estimates [3] Stock Performance - PennyMac shares have declined approximately 7.8% since the beginning of the year, while the S&P 500 has decreased by 12.3% [4] - The current Zacks Rank for PennyMac is 4 (Sell), indicating expected underperformance in the near future [7] Future Outlook - The consensus EPS estimate for the upcoming quarter is $3.53 on revenues of $599.74 million, and for the current fiscal year, it is $13.57 on revenues of $2.4 billion [8] - The estimate revisions trend for PennyMac is currently unfavorable, which may impact future stock performance [7] Industry Context - The Financial - Mortgage & Related Services industry is currently ranked in the bottom 20% of over 250 Zacks industries, which may negatively affect stock performance [9]

1Q25 EARNINGS REPORT PennyMac Financial Services, Inc. April 2025 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding management's beliefs, estimates, projections and assumptions with respect to, among other things, our financial results, future operations, business plans and investment strategies, as well as industry and market conditions, all of which are subject to change. Words li ...

Financial Data and Key Metrics Changes - The company raised $270 million of new capital year-to-date, achieving this at a premium to book value, which is accretive to shareholders [33] - Net interest income continues to trend up as new investments with attractive yields are added to the portfolio while financing costs trend down [32] - The leverage ratio increased from 7.4% to 7.8% due to a decline in book value [72] Business Line Data and Key Metrics Changes - The portfolio generated a total return of 2.6% during a quarter with significant swings in rates, validating the investment strategy [36] - Agency RMBS spreads widened sharply, ranging from 145 to 160 basis points over treasuries by the end of the quarter [42] - The company maintained a disciplined liquidity-focused risk management process, allowing it to navigate market volatility without crystallizing losses [43] Market Data and Key Metrics Changes - Long-end treasury yields unexpectedly rose, reflecting selling pressure, while the dollar experienced weakness against major currencies [15] - The market saw a classic risk-off reaction following the April 2nd tariff announcement, leading to declines in equity prices and sharp drops in interest rates [40] - The availability of repo funding remained strong, with costs stable between 15 and 17 basis points over SOFR [63] Company Strategy and Development Direction - The company continues to see compelling opportunities in agency residential mortgage-backed securities while managing through a rapidly changing landscape [55] - A focus on disciplined risk management and real-time adjustments is emphasized as the regulatory and political landscape evolves [27] - The company is preparing for potential changes in the GSEs and is evaluating outlier scenarios for market reactions [24] Management's Comments on Operating Environment and Future Outlook - Management views the current environment as favorable, with a steeper yield curve and lower financing costs supporting the business model [8] - The company is prepared for continued volatility in the financial and economic environments, expecting surprises in the future [28] - The dividend is set based on long-term returns, capital availability, and overall risk, with a recent increase reflecting confidence in generating attractive returns [30] Other Important Information - The company has operated with generally lower leverage and a robust liquidity position, allowing it to remain agile amid external shifts [21] - Management emphasizes the importance of transparency in investments, with all assets marked and reflected in earnings and book value [57] - The executive team collectively owns nearly 2% of the company, aligning their interests with those of shareholders [58] Q&A Session Summary Question: Repo funding costs and availability - Repo funding costs have been stable between 15 and 17 basis points over SOFR, with strong availability in financing markets [63] Question: Hedging strategy amidst volatility - The company is comfortable with its current hedge composition, primarily using swaps as a natural hedge for the mortgage portfolio [65] Question: Investing opportunities in the current environment - The steeper curve and wider spreads present significant ROE potential, with diversification across the coupon stack providing duration certainty [70] Question: Book value and dividend implications - The book value includes the dividend accrued, and leverage is at 7.8 times, reflecting a cautious approach to adding risk [76][78] Question: Preparing for GSE changes and potential spread widening - The company is focused on maintaining liquidity to withstand price shocks and is conducting scenario analysis for potential GSE changes [122][91]

Core Insights - Mr Cooper (COOP) is expected to report quarterly earnings of $2.81 per share, reflecting a year-over-year increase of 23.3% [1] - Anticipated revenues for the quarter are projected to be $612.37 million, which represents an 8.6% increase compared to the same quarter last year [1] Earnings Projections - Over the last 30 days, the consensus EPS estimate has been revised upward by 0.8%, indicating a collective reassessment by analysts [2] - Changes in earnings projections are crucial for predicting investor reactions to the stock [3] Revenue Estimates - Analysts predict 'Revenues- Servicing' will reach $449.12 million, showing a slight decline of 0.2% year-over-year [5] - 'Revenues- Corporate and Other' is forecasted to be $39.50 million, indicating a significant increase of 79.6% from the prior-year quarter [5] - 'Revenues- Originations' is expected to be $126.30 million, reflecting a year-over-year increase of 37.3% [5] Stock Performance - Mr Cooper's shares have increased by 8.9% over the past month, contrasting with a decline of 6.3% in the Zacks S&P 500 composite [5] - The company holds a Zacks Rank of 3 (Hold), suggesting it is expected to perform in line with the overall market in the near future [5]