Yahoo Finance PennyMac Mortgage Investment Trust Second Quarter 2024 Earnings: Misses Expectations
PennyMac Mortgage Investment Trust (NYSE:PMT) Second Quarter 2024 Results
Key Financial Results
Revenue: US$121.8m (down 32% from 2Q 2023).
Net income: US$14.9m (up 5.7% from 2Q 2023).
Profit margin: 12% (up from 7.9% in 2Q 2023). The increase in margin was driven by lower expenses.
EPS: US$0.17 (up from US$0.16 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
PennyMac Mortgage Investment Trust Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 51%.
Looking ahead, revenue is expected to decline by 13% p.a. on average during the next 3 years, while revenues in the Mortgage REITs industry in the US are expected to grow by 43%.
Performance of the American Mortgage REITs industry.
The company's shares are down 1.2% from a week ago.
Risk Analysis
Before you take the next step you should know about the 3 warning signs for PennyMac Mortgage Investment Trust (2 are concerning!) that we have uncovered.
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