Ocwen Financial (OCN) Reports Q1 Loss of $0.19/sh

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Go back to Ocwen Financial (OCN) Reports Q1 Loss of $0.19/sh

Ocwen Financial Announces Operating Results for First Quarter 2020

May 8, 2020 6:45 AM EDT

Reported a Net Loss of $25.5 million and a Pre-tax Loss of $87.3 million for the first quarter of 2020 and ended the quarter with $429.9 million of total stockholders' equity, or a book value per share of $3.32.  Financial results included $78 million unfavorable impact on pre-tax loss due to changes in interest rates and a $62 million income tax benefit relating to changes in NOL utilization rules under the CARES Act. Pre-tax income before notable items of $2 million, includes a $7 million unfavorable impact of COVID-19 during the quarter and $3 million unfavorable impact due to seasonal changes in... More