Ocwen reports FY22 $2.97, may not compare to consensus $9.95

Reports 2022 revenue $954M, consensus $957.94M. Book value per share was $61, up 17% from year-end 2021. CEO Glen Messina said, "I am proud of the results we delivered in 2022 despite a volatile mortgage environment. Our balanced and diversified business model has performed well and enabled us to improve earnings and grow book value and earnings per share year-over-year. Over the past year, we have taken decisive action to right-size our business and further improve our cost structure versus prior years while improving customer satisfaction and maintaining the highest standards of quality as recognized again by the GSEs and HUD. At the same time, we continue to drive capital-light growth in our servicing portfolio, as well as prudently manage MSR investments and liquidity in consideration of market opportunities and risks. With last year’s market challenges expected to persist in 2023, we believe there are growth opportunities for strong and proven operators like us. We will continue to rely on our balanced and diversified business, cost leadership and capital partnerships to drive prudent growth, improved net income and value for shareholders."