PennyMac Financial Services, Inc.

For the period ended Jun 30, 2025. Filed Jul 29, 2025.

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.

Jun 30, 2025 · Filed Jul 29, 2025

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

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Contents

Consolidated Statements of Income

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)


· · Quarter ended June 30, · Six months ended June 30,
· · 2025 · · 2024 · 2025 · · 2024
			(in thousands, except earnings per share)
Revenues
Net gains on loans held for sale at fair value:
From non-affiliates	$227,584	$176,537		$443,783	$339,331
From PennyMac Mortgage Investment Trust	7,075	(473)		11,913	(826)
	234,659	176,064		455,696	338,505
Loan origination fees:
From non-affiliates	58,589	41,644		104,723	77,656
From PennyMac Mortgage Investment Trust	502	431		979	790
	59,091	42,075		105,702	78,446
Fulfillment fees from PennyMac Mortgage Investment Trust	5,814	4,427		11,104	8,443
Net loan servicing fees:
Loan servicing fees:
From non-affiliates	435,517	375,040		853,204	733,066
From PennyMac Mortgage Investment Trust	21,645	20,264		43,374	40,526
Other	49,505	45,392		98,557	91,288
	506,667	440,696		995,135	864,880
Change in fair value of mortgage servicing rights and mortgage servicing liabilities	(247,170)	(101,315)		(678,126)	(129,900)
Mortgage servicing rights hedging results	(109,102)	(171,777)		(2,328)	(466,422)
	(356,272)	(273,092)		(680,454)	(596,322)
Net loan servicing fees	150,395	167,604		314,681	268,558
Management fees from PennyMac Mortgage Investment Trust	6,869	7,133		13,881	14,321
Net interest expense:
Interest income	221,929	200,811		411,800	357,237
Interest expense	239,577	207,871		447,659	373,640
Net interest expense	(17,648)	(7,060)		(35,859)	(16,403)
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust	(105)	(40)		80	(30)
Results of real estate acquired in settlement of loans	47	193		(178)	599
Repricing of payable to exchanged Private National Mortgage Acceptance Company, LLC unitholders under tax receivable agreement	1,092	—		1,092	—
Other	4,516	15,731		9,434	19,348
Total net revenues	444,730	406,127		875,633	711,787
Expenses
Compensation	187,541	141,956		369,529	288,332
Loan origination	68,836	40,270		112,932	70,838
Technology	42,257	35,690		82,454	71,657
Servicing	28,286	22,920		50,161	39,024
Marketing and advertising	12,389	5,445		21,821	9,116
Professional services	8,380	9,404		17,417	18,666
Occupancy and equipment	8,379	7,893		16,761	16,569
Other	12,220	8,695		23,920	19,848
Total expenses	368,288	272,273		694,995	534,050
Income before (benefit from) provision for income taxes	76,442	133,854		180,638	177,737
(Benefit from) provision for income taxes	(60,021)	35,596		(32,105)	40,171
Net income	$136,463	$98,258		$212,743	$137,566
Earnings per share
Basic	$2.64	$1.93		$4.12	$2.71
Diluted	$2.54	$1.85		$3.97	$2.59
Weighted average shares outstanding
Basic	51,667	50,955		51,587	50,751
Diluted	53,635	53,204		53,626	53,140

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.