PennyMac Mortgage Q2 2024 GAAP EPS $0.17 Misses $0.34 Estimate, Sales $71.198M Miss $91.210M Estimate
Portfolio Pulse from Benzinga Newsdesk
PennyMac Mortgage (NYSE:PMT) reported Q2 2024 earnings of $0.17 per share, missing the analyst estimate of $0.34 by 50%. Sales were $71.198M, missing the $91.210M estimate by 21.94%. Despite a 6.25% increase in EPS from last year, sales decreased by 21.29%.
July 23, 2024 | 8:23 pm
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PennyMac Mortgage's Q2 2024 earnings and sales both missed analyst estimates significantly. EPS was $0.17, missing the $0.34 estimate by 50%, and sales were $71.198M, missing the $91.210M estimate by 21.94%. Despite a slight increase in EPS from last year, the substantial miss in both earnings and sales is likely to negatively impact the stock price in the short term.
The significant miss in both earnings per share and sales compared to analyst estimates is likely to result in a negative short-term impact on PennyMac Mortgage's stock price. Investors typically react negatively to such substantial deviations from expectations.
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IMPORTANCE 90
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