PennyMac Financial reports Q1 EPS $1.42 vs 74c last year

Reports Q1 revenue $430.9M, consensus $531.4M. “PennyMac Financial (PFSI) delivered solid first quarter financial results, demonstrating our ability to consistently generate strong returns in a volatile market,” said Chairman and CEO David Spector. “In our production segment, we acquired or originated nearly $30 billion in unpaid principal balance of loans at higher note rates, which strategically positions our consumer direct division for significant growth when interest rates decline. This production led to continued growth of our servicing portfolio, which ended the quarter at $680 billion in unpaid principal balance.”