Onity Group reports Q1 EPS $2.50, consensus $1.87

Reports Q1 revenue $249.8M, consensus $247.33M. Q3 ROE was 19% vs. 29% last year. “We are thrilled to report another strong quarter, with growth in revenue, adjusted pre-tax income, adjusted ROE, and book value per share compared to a year ago,” said CEO Glen Messina. “Our results demonstrate the success of our strategy coupled with strong execution. Our balanced business continues to perform well regardless of interest rate cycles. We believe our demonstrated resiliency, customer focus, and award-winning servicing platform will enable us to successfully navigate interest rate volatility and economic uncertainties. We expect our actions to deliver balanced MSR and subservicing additions, expand high-margin products, and continuously strengthen recapture performance, will drive our growth in the coming quarters.”