Velocity Financial Inc. (VEL) Tops Q4 EPS by 8c
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Velocity Financial, Inc. Reports Fourth Quarter and Full-Year 2023 Results
March 7, 2024 4:15 PM ESTFourth Quarter Highlights:
Net income of $17.4 million, up 105.1% from $8.5 million for 4Q22. Diluted EPS of $0.50, up $0.25 from $0.25 per share for 4Q22 Core net income(1) of $16.2 million, up 77.2% from $9.1 million for 4Q22. Core diluted EPS(1) of $0.46, up $0.19 from $0.27 per share for 4Q22 Loan production of $352.1 million in UPB, a 21.2% increase from 3Q23 and 26.8% from 4Q22 Year-to-date 2024 loan production through February 2024 totaled $254.4 million with an 11.1% weighted average coupon (WAC) Nonperforming loans as a percentage of Held for Investment (HFI) loans was... More