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Onity Group (ONIT)
NYSE:ONIT
Holding ONIT?
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
2.09Last Year’s EPS
-5.86Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2018
|% Change Since: 19.25%
|Next Earnings Date:Jul 26, 2018
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment, with significant achievements in profitability, debt reduction, and operational performance. Despite challenges such as unanticipated GSE pricing changes and legal costs, the company's strategic execution and financial improvements outweigh the negatives.Company Guidance
During Onity Group's third quarter earnings call, the company reported its highest adjusted pre-tax income and return on equity in the last three years, with a reported net income of $21 million. The originations team achieved a total of $18 billion in servicing additions, reflecting a 26% increase in origination volume and a 52% increase in consumer direct recapture volume from the previous quarter. Onity's debt-to-equity ratio was reduced to 2.9:1, supported by nearly $300 million in liquidity and a reduction in corporate and MSR debt by over $180 million year-to-date. The company's adjusted pre-tax income rose by $162 million over the last 12 months compared to 2022, and it achieved a 19% adjusted ROE over the same period, a significant improvement from the negative 17% in 2022. Additionally, Onity continues to focus on capital-light growth, evidenced by over $38 billion in third-party subservicing additions year-to-date, and has managed its owned MSR portfolio within a range of $115 billion to $135 billion in UPB, including excess servicing spread transactions.Record Pre-Tax Income and Return on Equity
Onity Group reported its highest adjusted pre-tax income and return on equity in the last three years, with a net income of $21 million.
Strong Origination Performance
The originations team delivered $18 billion in total servicing additions, a 26% increase in total origination volume, and a 52% increase in consumer direct recapture volume compared to the second quarter.
Deleveraging and Debt Refinancing
Onity executed transactions to reduce debt, achieving a debt-to-equity ratio of 2.9:1, with almost $300 million in liquidity and a reduction in corporate and MSR debt by over $180 million this year.
Improved Financial Performance
Adjusted pre-tax income increased by $162 million for the last 12 months ending September 30, compared to the full year 2022, with a 19% adjusted ROE.
Substantial Growth in Subservicing
Onity added $38 billion in third-party subservicing additions year-to-date, a significant increase compared to the full year 2023.
Successful MSR Hedge Performance
The MSR hedge provided a net favorable $10 million benefit, offsetting almost all changes in MSR value due to rates and assumptions over the past 12 months.
Enhanced Earnings Per Share through Debt Restructuring
Corporate debt restructuring resulted in a $14 million annual decrease in interest expense, extending corporate debt maturity to November 2029.
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ONIT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ONIT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $30.13 | $30.96 | +2.75% |
| Aug 01, 2024 | $29.23 | $28.78 | -1.54% |
| May 02, 2024 | $24.17 | $25.51 | +5.54% |
| Feb 27, 2024 | $28.32 | $26.58 | -6.14% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Onity Group (ONIT) report earnings?
Onity Group (ONIT) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Onity Group (ONIT) earnings time?
Onity Group (ONIT) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ONIT EPS forecast?
ONIT EPS forecast for the fiscal quarter 2024 (Q4) is 2.09.
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