PennyMac Mortgage Investment Trust Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Simply Wall St

October 24, 2024

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$31.0m (down 39% from 3Q 2023).
Profit margin: 12%.
EPS: US$0.36 (down from US$0.59 in 3Q 2023).

earnings-and-revenue-history — NYSE:PMT Earnings and Revenue History October 24th 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 25% p.a. on average during the next 3 years, while revenues in the Mortgage REITs industry in the US are expected to grow by 37%.

Performance of the American Mortgage REITs industry.

The company's shares are down 4.3% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for PennyMac Mortgage Investment Trust (1 is significant!) that you need to take into consideration.

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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.