PennyMac Mortgage Investment Trust
For the period ended Jun 30, 2025. Filed Jul 30, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Jul 30, 2025
PMT$7.85-4.6%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
| Quarter ended June 30, | Six months ended June 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| (in thousands, except (loss) earnings per common share) | ||||
| Net investment income | ||||
| Net gains (losses) on investments and financings | $33,680 | $(19,743) | $95,993 | $20,010 |
| Net gains on loans acquired for sale: | ||||
| From nonaffiliates | 15,148 | 10,110 | 25,477 | 23,023 |
| From PennyMac Financial Services, Inc. | 2,658 | 2,050 | 4,673 | 3,655 |
| 17,806 | 12,160 | 30,150 | 26,678 | |
| Loan origination fees | 3,385 | 2,451 | 6,537 | 4,459 |
| Net loan servicing fees: | ||||
| From nonaffiliates | ||||
| Contractually specified | 153,111 | 162,127 | 305,310 | 322,484 |
| Other | 5,127 | 2,815 | 9,044 | 5,826 |
| 158,238 | 164,942 | 314,354 | 328,310 | |
| Change in fair value of mortgage servicing rights | (75,128) | (50,556) | (219,718) | (78,758) |
| Mortgage servicing rights hedging results | (60,637) | (18,365) | (100,581) | (108,179) |
| 22,473 | 96,021 | (5,945) | 141,373 | |
| From PennyMac Financial Services, Inc. | 1,474 | 473 | 2,682 | 826 |
| 23,947 | 96,494 | (3,263) | 142,199 | |
| Net interest expense: | ||||
| Interest income | 196,481 | 151,835 | 372,572 | 295,394 |
| Interest expense | 205,149 | 171,841 | 387,286 | 343,368 |
| (8,668) | (20,006) | (14,714) | (47,974) | |
| Results of real estate acquired in settlement of loans | — | (224) | (142) | (90) |
| Other | 51 | 66 | 105 | 121 |
| Net investment income | 70,201 | 71,198 | 114,666 | 145,403 |
| Expenses | ||||
| Earned by PennyMac Financial Services, Inc.: | ||||
| Loan servicing fees | 21,645 | 20,264 | 43,374 | 40,526 |
| Management fees | 6,869 | 7,133 | 13,881 | 14,321 |
| Loan fulfillment fees | 5,814 | 4,427 | 11,104 | 8,443 |
| Professional services | 8,362 | 2,366 | 15,344 | 4,124 |
| Compensation | 2,836 | 1,369 | 5,806 | 3,285 |
| Loan collection and liquidation | 2,385 | 671 | 4,354 | 2,040 |
| Safekeeping | 1,228 | 961 | 2,338 | 1,893 |
| Loan origination | 666 | 533 | 1,352 | 1,006 |
| Other | 3,390 | 4,865 | 6,406 | 8,775 |
| Total expenses | 53,195 | 42,589 | 103,959 | 84,413 |
| Income before provision for (benefit from) income taxes | 17,006 | 28,609 | 10,707 | 60,990 |
| Provision for (benefit from) income taxes | 9,472 | 3,175 | (6,507) | (12,052) |
| Net income | 7,534 | 25,434 | 17,214 | 73,042 |
| Dividends on preferred shares of beneficial interest | 10,455 | 10,454 | 20,910 | 20,909 |
| Net (loss) income attributable to common shareholders | $(2,921) | $14,980 | $(3,696) | $52,133 |
| (Loss) earnings per common share | ||||
| Basic | $(0.04) | $0.17 | $(0.05) | $0.60 |
| Diluted | $(0.04) | $0.17 | $(0.05) | $0.60 |
| Weighted average common shares outstanding | ||||
| Basic | 87,012 | 86,849 | 86,960 | 86,769 |
| Diluted | 87,012 | 86,849 | 86,960 | 86,769 |
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