Onity Group Third Quarter 2024 Earnings: Beats Expectations

Onity Group (NYSE:ONIT) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$265.7m (up 4.0% from 3Q 2023).
• Net income: US$21.4m (up 152% from 3Q 2023).
• Profit margin: 8.1% (up from 3.3% in 3Q 2023). The increase in margin was primarily driven by higher revenue.
• EPS: US$2.72 (up from US$1.11 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Onity Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 65%.

Looking ahead, revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Diversified Financial industry in the US.

Performance of the American Diversified Financial industry.

The company's shares are up 2.5% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Onity Group (1 makes us a bit uncomfortable!) that you need to take into consideration.

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