PennyMac Financial (PFSI)
NYSE:PFSI
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Earnings Data
Report Date
Jul 28, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.63Last Year’s EPS
2.54Same Quarter Last Year
Strong Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a generally constructive operational story: strong adjusted earnings, production pretax income at multi-year highs, improving consumer direct recapture, clear technology-driven efficiency gains and disciplined capital returns (buybacks/dividend). Offsetting items include notable hedge and valuation-related losses, sequential declines in origination and lock volumes, elevated leverage and a lowered near-term ROE guide due to accelerated tech investment and softer market activity. Management emphasizes long-term targets (high-teens to low-20s ROE), expects technology benefits to materialize in H2 2026, and is actively managing leverage and MSR positioning.Company Guidance
Solid Adjusted Earnings and ROE
Net income $82M GAAP ($1.53/share) with adjusted net income $118M ($2.19/share); annualized GAAP ROE 8% and adjusted ROE 11%.
Mortgage Banking & Production Strength
Mortgage banking operating pretax income $190M (up from $173M prior quarter). Production pretax income $134M, more than double year-ago and up 5% sequentially.
Consumer Direct Momentum and Recapture Gains
Consumer direct originations +15% QoQ and locks +24% QoQ; revenue contribution from consumer direct +30% QoQ. Conventional first-lien refinance recapture rose 5 percentage points QoQ to 22% and ran near 30% in April; government refinance recapture ~50%.
Broker Direct Growth and New Product Traction
Broker direct originations +3% QoQ, locks +26% QoQ, approved brokers +12% YoY. Launched non-QM product with initial blocks $151M in Q1 and $157M in April.
Technology & Efficiency Improvements
Completed deployment of new consumer direct origination system (Vesta) and began AI agent rollouts; direct consumer expenses down 26% vs 2022; compensation as % of adjusted revenue reduced to 3.7% from 6.5% in 2022 (44% decrease). Expect material benefits and ROE upside in H2 2026.
Servicing Economics and Scale
Servicing UPB $720B (down 2% QoQ) with servicing pretax income excluding valuation changes $57M or 3.1 bps (up from 2.5 bps). Operating expenses 4.5 bps of servicing UPB; target to reduce cost-to-serve toward $55/loan annually over 24–36 months.
Capital Deployment and Liquidity
Repurchased 560,000 shares for $50M at $89.28 avg; declared $0.30/share common dividend. Ended quarter with $4.2B total liquidity.
MSR Valuation Increase (Net)
Fair value of MSR increased by $177M in the quarter (driven by $201M from market interest rate changes, partially offset by $24M model/performance declines).
PFSI 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
PFSI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 05, 2026 | $87.48 | $87.07 | -0.47% |
Jan 29, 2026 | $149.21 | $99.59 | -33.25% |
Oct 21, 2025 | $120.23 | $128.84 | +7.16% |
Jul 22, 2025 | $103.36 | $95.73 | -7.38% |
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.
FAQ
When does PennyMac Financial (PFSI) report earnings?
PennyMac Financial (PFSI) is schdueled to report earning on Jul 28, 2026, After Close (Confirmed).
What is PennyMac Financial (PFSI) earnings time?
PennyMac Financial (PFSI) earnings time is at Jul 28, 2026, After Close (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 PFSI EPS forecast?
PFSI EPS forecast for the fiscal quarter 2026 (Q2) is 2.63.