PennyMac Financial reports Q4 EPS (74c) vs $1.77 last year

Reports Q4 revenue $361.94M, consensus $411.45M. “PennyMac Financial produced an annualized operating return on equity of 15% in the fourth quarter, marking the culmination of another outstanding year for the company and highlighting the strength of our balanced business model,” said Chairman and CEO David Spector. “The net loss in the fourth quarter was primarily driven by a one-time accrual related to the award in our long-running arbitration with Black Knight. While we disagree with the final ruling, we are very pleased to retain ownership of our industry-leading servicing system, as well as the ability to utilize it as we see fit to benefit our customers and stakeholders.”