PennyMac Financial Servs Q3 Sales $411.83M Miss $511.41M Estimate
Portfolio Pulse from Benzinga Newsdesk
PennyMac Financial Services reported Q3 sales of $411.83 million, missing the analyst estimate of $511.41 million by 19.47%. Despite the miss, sales increased by 2.88% compared to the same period last year.
October 22, 2024 | 8:17 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
PennyMac Financial Services reported Q3 sales of $411.83 million, missing the analyst estimate of $511.41 million by 19.47%. Despite the miss, sales increased by 2.88% compared to the same period last year.
The significant miss on sales estimates is likely to negatively impact PFSI's stock price in the short term. However, the year-over-year sales growth of 2.88% may provide some support. Overall, the market is expected to react negatively due to the large gap between actual and expected sales.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100