PHH Corp. (PHH) Reports Q2 Loss Per Share of $1.43
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PHH Corporation Announces Second Quarter 2015 Results
August 5, 2015 4:12 PM EDT2Q15 Highlights:
Net loss attributable to PHH Corporation of $62 million or $1.20 per basic share, which includes a $34 million pre-tax provision for legal and regulatory reserves and a $30 million pre-tax loss related to the exchange of the Convertible notes due in 2017. Realized $26 million of operating benefits in 2Q15 compared to 2Q14 from our re-engineering activities, representing approximately 46% of our target annualized operating benefits. Invested $17 million of operating expenses and $8 million of capital expenses in our re-engineering efforts and evaluation of select growth opportunities. We have substantially concluded our private... More