LoanDepot reports Q3 EPS (2c), consensus (1c)

Reports Q3 revenue $323.32M, consensus $312.94M. The company said, “In the third quarter, we continued to narrow our loss, driven by higher revenue and disciplined expense management, resulting in positive operating leverage. Revenue rose 14% quarter-over-quarter, fueled by stronger pull-through volume, improved margins, and increased servicing income, while expenses grew by only 6%. We also strengthened our balance sheet, increasing cash by $51 million to $459 million.”