PennyMac Financial Reports Q1 Revenue of $544.98M
Reports Q1 revenue $544.98M, consnsus $548.29M. "In the first quarter, PennyMac Financial generated an 8% annualized return on equity and an 11% annualized adjusted return on equity," said Chairman and CEO David Spector. "Our performance reflects our ongoing emphasis on maximizing returns on invested capital. The combination of strong operational execution in our consumer and broker direct lending channels along with improving operating efficiency drove production segment pretax income to its highest level in nearly five years. The growth in our direct channels was paired with our consistent strategic deployment of capital through the correspondent channel."
