PennyMac Financial reports Q3 EPS $1.77, consensus $1.69

Reports Q3 revenue $400.31M, consensus $401.96M. “PennyMac Financial produced outstanding results in the third quarter, returning to a double-digit annualized return on equity,” said Chairman and CEO David Spector. “While average mortgage rates were up 50 basis points from the prior quarter, we demonstrated the earnings power of our balanced business model with exceptionally strong operating income from our large and growing servicing business combined with continued profitability in production. As a result, book value per share grew 3 percent from the prior quarter.”