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

  • Revenue: US$265.8m (up by US$263.3m from 3Q 2023).

  • Net income: US$30.8m (down 39% from 3Q 2023).

  • Profit margin: 12%.

  • EPS: US$0.35 (down from US$0.59 in 3Q 2023).

earnings-and-revenue-history
NYSE:PMT Earnings and Revenue History November 1st 2024

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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Waiting for permission
Allow microphone access to enable voice search

Try again.