PennyMac Mortgage Q3 2024 GAAP EPS $0.36 Beats $0.34 Estimate, Sales $80.864M Miss $93.258M Estimate
Portfolio Pulse from Benzinga Newsdesk
PennyMac Mortgage reported Q3 2024 earnings per share of $0.36, surpassing the expected $0.34. However, sales were $80.864 million, falling short of the $93.258 million estimate and marking a 50.52% decline from the previous year.
October 22, 2024 | 8:19 pm
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PennyMac Mortgage's Q3 2024 earnings per share exceeded expectations, but sales significantly missed estimates and declined by over 50% year-over-year.
While PennyMac Mortgage's EPS beat expectations, the significant miss in sales and the large year-over-year decline could create mixed sentiment among investors. The positive EPS might provide some support, but the sales miss could weigh on the stock price.
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