PennyMac Financial Services, Inc. Reports First Quarter 2017 Results
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Pennymac Financial Services (PFSI) Misses Q1 EPS by 17c
May 4, 2017 4:54 PM EDTPennymac Financial Services (NYSE: PFSI) reported Q1 EPS of $0.47, $0.17 worse than the analyst estimate of $0.64. Revenue for the quarter came in at $204.5 million versus the consensus estimate of $229.56 million.
Pretax income was $62.0 million, down 52 percent from the prior quarter and up 106 percent from the first quarter of 2016; the quarter-over-quarter decrease reflects lower production earnings, driven by a reduction in refinance volumes due to higher mortgage rates and a seasonally slow purchase marketProduction... More