PennyMac Mortgage Investment Trust Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag
In This Article:
PennyMac Mortgage Investment Trust (NYSE:PMT) Third Quarter 2024 Results
Key Financial Results
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Revenue: US$265.8m (up by US$263.3m from 3Q 2023).
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Net income: US$30.8m (down 39% from 3Q 2023).
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Profit margin: 12%.
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EPS: US$0.35 (down from US$0.59 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
PennyMac Mortgage Investment Trust EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 14%. Earnings per share (EPS) exceeded analyst estimates by 5.0%.
Looking ahead, revenue is expected to decline by 27% p.a. on average during the next 3 years, while revenues in the Mortgage REITs industry in the US are expected to grow by 30%.
Performance of the American Mortgage REITs industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 3 warning signs for PennyMac Mortgage Investment Trust (of which 2 are concerning!) you should know about.
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