Guild Holdings Company (GHLD) Reports Q3 Revenues Miss

Guild Holdings Company (NYSE: GHLD) reported Q3 revenue for the quarter came in at $563.5 million versus the consensus estimate of $571.56 million.

Third Quarter 2020 Highlights Year-over-Year

• Closed record origination volume of $10.0 billion, a 41% increase
• Purchase originations represented $5.0 billion or 50% of overall loan volume
• Net revenue more than doubled to $563.5 million compared to $217.8 million
• Significantly grew net income to $182.1 million from $8.5 million
• Adjusted net income rose to $195.0 million from $58.6 million
• Adjusted EBITDA more than tripled to $267.3 million from $77.1 million

“We ended the third quarter with record total loan volume and continued growth in servicing. Our origination volume grew over 41% in the quarter from the same period last year, with half of the total coming from purchase originations,” stated Mary Ann McGarry, Chief Executive Officer. “Our ongoing focus on the purchase market produces more durable volume as well as consistent margins, ultimately supporting the continued growth and profitability of our business as we build long-term value for our shareholders.”

For earnings history and earnings-related data on Guild Holdings Company (GHLD) click here.

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