PennyMac Financial Services Inc

For the period ended Sep 30, 2024. Filed Oct 29, 2024.

About this filing

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.

Sep 30, 2024 · Filed Oct 29, 2024

PFSI$62.85-5.4%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Consolidated Statements of Income

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)


· · Quarter ended September 30, · Nine months ended September 30,
· · 2024 · · 2023 · 2024 · · 2023
			(in thousands, except earnings per share)
Revenues
Net gains on loans held for sale at fair value:
From non-affiliates	$254,313	$151,874		$593,644	$398,672
From PennyMac Mortgage Investment Trust	2,506	(500)		1,680	(1,494)
	256,819	151,374		595,324	397,178
Loan origination fees:
From non-affiliates	48,323	37,122		125,979	105,369
From PennyMac Mortgage Investment Trust	1,107	579		1,897	2,690
	49,430	37,701		127,876	108,059
Fulfillment fees from PennyMac Mortgage Investment Trust	11,492	5,531		19,935	22,895
Net loan servicing fees:
Loan servicing fees:
From non-affiliates	393,457	328,049		1,126,523	925,865
From PennyMac Mortgage Investment Trust	22,240	20,257		62,766	61,023
Other	46,340	39,628		137,628	95,574
	462,037	387,934		1,326,917	1,082,462
Change in fair value of mortgage servicing rights and mortgage servicing liabilities	(628,258)	221,096		(758,158)	(70,608)
Mortgage servicing rights hedging results	242,051	(423,656)		(224,371)	(531,565)
	(386,207)	(202,560)		(982,529)	(602,173)
Net loan servicing fees	75,830	185,374		344,388	480,289
Management fees from PennyMac Mortgage Investment Trust	7,153	7,175		21,474	21,510
Net interest income (expense):
Interest income	225,470	166,552		582,707	467,982
Interest expense	217,597	156,863		591,237	467,276
Net interest income (expense):	7,873	9,689		(8,530)	706
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust	68	(51)		38	91
Results of real estate acquired in settlement of loans	(269)	637		330	978
Other	3,438	2,878		22,786	8,011
Total net revenues	411,834	400,308		1,123,621	1,039,717
Expenses
Compensation	171,316	156,909		459,648	441,826
Loan origination	45,208	28,889		116,046	87,621
Technology	37,059	39,000		108,716	110,282
Servicing	28,885	13,242		67,909	40,526
Professional services	9,339	11,942		28,005	50,837
Occupancy and equipment	8,156	8,900		24,725	27,786
Marketing and advertising	5,088	4,632		14,204	13,451
Other	12,858	9,997		32,706	29,527
Total expenses	317,909	273,511		851,959	801,856
Income before provision for income taxes	93,925	126,797		271,662	237,861
Provision for income taxes	24,557	33,927		64,728	56,363
Net income	$69,368	$92,870		$206,934	$181,498
Earnings per share
Basic	$1.36	$1.86		$4.07	$3.63
Diluted	$1.30	$1.77		$3.88	$3.44
Weighted average shares outstanding
Basic	51,180	49,902		50,895	49,975
Diluted	53,495	52,561		53,274	52,735

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.