ONITY GROUP INC
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
View on SEC.govAbout 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 Nov 7, 2024
ONIT$30.44-5.2%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 exhibitsContents
Consolidated Statements of Operations for the and
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in millions, except per share data)
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | ||||
| Servicing and subservicing fees | $211.1 | $237.8 | $626.5 | $707.5 |
| Gain (loss) on reverse loans held for investment and HMBS-related borrowings, net | 18.0 | (0.4) | 41.9 | 21.5 |
| Gain on loans held for sale, net | 25.8 | 8.2 | 53.2 | 36.3 |
| Other revenue, net | 10.8 | 10.0 | 29.6 | 24.0 |
| Total revenue | 265.7 | 255.5 | 751.2 | 789.4 |
| MSR valuation adjustments, net | (31.5) | (16.4) | (75.8) | (134.2) |
| Operating expenses | ||||
| Compensation and benefits | 59.5 | 55.7 | 168.1 | 171.4 |
| Servicing and origination | 11.1 | 15.5 | 40.0 | 48.8 |
| Technology and communications | 13.2 | 13.1 | 38.9 | 39.5 |
| Professional services | 17.3 | 13.5 | 40.1 | 9.9 |
| Occupancy, equipment and mailing | 7.9 | 7.7 | 23.1 | 24.2 |
| Other expenses | 3.4 | 4.6 | 10.6 | 14.7 |
| Total operating expenses | 112.4 | 110.0 | 320.8 | 308.4 |
| Other income (expense) | ||||
| Interest income | 24.5 | 25.9 | 64.5 | 60.2 |
| Interest expense ($11.5, $11.0, $34.1 and $32.6 on amounts due to related parties) | (74.2) | (74.3) | (214.6) | (204.8) |
| Pledged MSR liability expense ($11.4, $14.5, $42.1 and $41.8 on amounts due to related party) | (42.3) | (76.5) | (133.3) | (219.8) |
| Earnings of equity method investee | 0.8 | 2.8 | 6.7 | 5.9 |
| Gain on extinguishment of debt | 0.3 | 1.2 | 1.8 | 1.2 |
| Other, net | (3.3) | 1.3 | (6.7) | (1.9) |
| Other income (expense), net | (94.1) | (119.7) | (281.7) | (359.2) |
| Income (loss) before income taxes | 27.6 | 9.5 | 72.9 | (12.5) |
| Income tax expense | 6.3 | 1.0 | 10.9 | 3.8 |
| Net income (loss) | $21.4 | $8.5 | $62.0 | (16.2) |
| Earnings (loss) per share | ||||
| Basic | $2.72 | $1.10 | $7.95 | $(2.13) |
| Diluted | $2.65 | $1.05 | $7.74 | $(2.13) |
| Weighted average common shares outstanding | ||||
| Basic | 7,860,572 | 7,677,008 | 7,797,974 | 7,621,569 |
| Diluted | 8,055,393 | 8,060,078 | 8,006,981 | 7,621,569 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.