Walter Investment Management (WAC) Misses Q2 EPS by 3c

Walter Investment Management (NYSE: WAC) reported Q2 EPS of $1.19, $0.03 worse than the analyst estimate of $1.22. Revenue for the quarter came in at $413.71 million versus the consensus estimate of $381.07 million.

Adjusted Pre-Tax Earnings ("APTE", referred to as "Core Earnings" in prior reported periods)(2) for the second quarter of 2014 was $70.1 million after taxes(1), or $1.86 per diluted share(1), declining 42% as compared to the same quarter last year. AEBITDA for the quarter was $199.4 million, declining 24% as compared to the second quarter of 2013. The noted performance differences in the second quarter of 2014 as compared to the second quarter of 2013 were primarily driven by strong operating results in the originations segment in the second quarter of 2013 due to HARP related retention volumes and margins.

For earnings history and earnings-related data on Walter Investment Management (WAC) click here.

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