Announcement • Aug 14
Glancy Prongay Wolke & Rotter LLP Files Securities Fraud Lawsuit Against UWM Holdings Corporation Glancy Prongay Wolke & Rotter LLP announced that it has filed a class action lawsuit in the United States District Court for the Eastern District of Michigan, captioned Doug Bond v. UWM Holdings Corporation, et al., Case No. 2:26-cv-12862-BRM-APP, on behalf of persons and entities that purchased or otherwise acquired UWM Holdings Corporation securities between March 9, 2026 and August 5, 2026, inclusive. Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. In December 2025, UWM and Two Harbors Investment Corp. signed an all-stock merger agreement valued at $1,300 million to expand UWM's mortgage servicing rights. In March 2026, Two Harbors terminated the UWM agreement after CrossCountry Mortgage stepped in with a competing cash offer and agreed to pay UWM's termination fee. UWM aggressively countered by raising its proposals, but Two Harbors' board repeatedly rebuffed these advances, leading to a brief mandated negotiation waiver period in June 2026 that expired without a new deal. On August 5, 2026, after the market closed, UWM reported second quarter fiscal year 2026 financial results, including a $603.2 million interest rate derivatives loss which contributed to a $451.9 million second-quarter net loss. Total equity also fell 43.6% year over year, reflecting the net loss and derivative-related charges. On this news, shares of UWM Holdings fell $0.64 or 34.78% to close at $1.20 on August 6, 2026, thereby injuring investors. The complaint filed in this class action alleges that between March 9, 2026 and August 5, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company had deviated from its traditional strategy of not hedging its mortgage servicing rights to take a major hedge position; (2) the Company over-hedged itself in anticipation of the Two Harbors transaction; (3) the Company’s purported efforts to balance its risk in fact created an excess hedging risk; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Live News • Aug 08
UWM Holdings Swings to Adjusted Loss in Q2 as Market Challenges Deepen UWM Holdings reported a significant swing to an adjusted loss in the second quarter, which the company attributed to challenges in its mortgage lending business, and the stock fell more than 18% in premarket trading as investors reacted to the earnings release.
The move to an adjusted loss is a major setback for UWM Holdings since it points to pressure on profitability in a period where operational execution and cost control appear to be under strain.
UWM Holdings shares trade at about $1.28, with the stock down 71.0% year to date, reflecting a sharply weaker market view of the company’s near-term prospects.
The shift to an adjusted loss and steep share price decline raise questions about how UWM Holdings manages volume, margins and expenses in its mortgage business. The main investor risk is that weaker profitability could persist longer than expected. Reported Earnings • Aug 07
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: US$0.24 loss per share (down from US$0.11 profit in 2Q 2025). Revenue: US$162.1m (down 83% from 2Q 2025). Net loss: US$80.6m (down 452% from profit in 2Q 2025). Revenue missed analyst estimates by 78%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. New Risk • Aug 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 147% Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Buy Or Sell Opportunity • Aug 06
Now 37% undervalued after recent price drop Over the last 90 days, the stock has fallen 64% to US$1.20. The fair value is estimated to be US$1.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Jul 29
UWM Holdings Corporation to Report Q2, 2026 Results on Aug 06, 2026 UWM Holdings Corporation announced that they will report Q2, 2026 results on Aug 06, 2026 Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$1.74, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 12x in the Diversified Financial industry in the US. Total loss to shareholders of 65% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$2.75 per share. Price Target Changed • Jul 20
Price target decreased by 8.6% to US$3.98 Down from US$4.35, the current price target is an average from 8 analysts. New target price is 110% above last closing price of US$1.89. Stock is down 57% over the past year. The company is forecast to post earnings per share of US$0.37 for next year compared to US$0.13 last year. Major Estimate Revision • Jul 19
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$3.03b to US$2.83b. EPS estimate also fell from US$0.416 per share to US$0.37 per share. Net income forecast to grow 25% next year vs 29% growth forecast for Diversified Financial industry in the US. Consensus price target down from US$4.35 to US$4.23. Share price fell 2.9% to US$2.02 over the past week. Buy Or Sell Opportunity • Jul 13
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 46% to US$2.00. The fair value is estimated to be US$2.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 4.2% in 2 years. Earnings are forecast to grow by 55% in the next 2 years. Price Target Changed • Jul 06
Price target decreased by 7.6% to US$4.48 Down from US$4.84, the current price target is an average from 8 analysts. New target price is 103% above last closing price of US$2.20. Stock is down 45% over the past year. The company is forecast to post earnings per share of US$0.42 for next year compared to US$0.13 last year. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$2.03, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 11x in the Diversified Financial industry in the US. Total loss to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$2.24 per share. Live News • Jun 14
UWM Holdings Faces Dividend Cut Risk as Governance and Leverage Concerns Grow UWM Holdings is facing heightened governance concerns tied to founder-related financial arrangements and allegations of self-dealing.
The termination of the planned Two Harbors acquisition removed a potential way to reduce leverage, leaving the balance sheet more exposed to volatility with mortgage rates still elevated.
The stock recently reached an all-time low, underperforming mortgage banking peers, while analysts have raised questions about the sustainability of the current quarterly dividend and flagged a possible cut, with Keefe Bruyette assigning a Market Perform rating and a $4.50 price target.
Taken together, these developments put the focus squarely on balance sheet resilience, governance practices, and how the company handles its dividend policy from here.
If you are following the stock, the key risks to watch are any changes to the dividend, further clarity on related-party issues, and how management responds to leverage concerns after the collapsed Two Harbors deal. Upcoming Dividend • Jun 11
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 18 June 2026. Payment date: 09 July 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 17%. Within top quartile of American dividend payers (4.2%). Higher than average of industry peers (1.1%). Live News • Jun 05
UWM Holdings Pushes Superior $12.50 Offer for Two Harbors and Expands Mortgage Servicing UWM Holdings is urging Two Harbors Investment Corp. stockholders to vote against the proposed merger with CrossCountry Mortgage, arguing that its own $12.50 per share offer is superior.
The company has reaffirmed its commitment to acquire all outstanding Two Harbors shares for $12.50 per share, payable in cash or stock.
UWM is also expanding in-house mortgage servicing capabilities and evaluating purchases of mortgage servicing rights to deepen customer relationships and diversify revenue sources.
This push to block the CCM deal and promote UWM’s alternative offer signals a willingness to deploy capital for acquisitions while also building a larger servicing platform.
If you follow UWMC, key questions include whether Two Harbors stockholders respond favorably to this bid and how any servicing expansion affects UWM’s earnings mix and risk profile over time. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$2.62, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Diversified Financial industry in the US. Total loss to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$2.25 per share. Recent Insider Transactions Derivative • May 22
Executive VP exercised options to buy US$2.9m worth of stock. On the 19th of May, Alex Elezaj exercised 1.61m options to receive shares at no cost, then sold around 661.74k of them at US$2.92 each and kept the remainder. Since March 2026, Alex's direct individual holding has increased from 313.98k shares to 1.92m. Company insiders have collectively bought US$6.3m more than they sold, via options and on-market transactions, in the last 12 months. Declared Dividend • May 11
First quarter dividend of US$0.10 announced Dividend of US$0.10 is the same as last year. Ex-date: 18th June 2026 Payment date: 9th July 2026 Dividend yield will be 12%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is not covered by earnings (147% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 5 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 63% to bring the payout ratio under control. EPS is expected to grow by 129% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • May 07
UWM Holdings Corporation announces Quarterly dividend, payable on July 09, 2026 UWM Holdings Corporation announced Quarterly dividend of USD 0.1000 per share payable on July 09, 2026, ex-date on June 18, 2026 and record date on June 18, 2026. Reported Earnings • May 06
Full year 2025 earnings released: EPS: US$0.13 (vs US$0.13 in FY 2024) Full year 2025 results: EPS: US$0.13 (up from US$0.13 in FY 2024). Revenue: US$3.46b (up 41% from FY 2024). Net income: US$27.4m (up 90% from FY 2024). Profit margin: 0.8% (up from 0.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Major Estimate Revision • May 06
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from US$3.11b to US$3.34b. EPS estimate increased from US$0.46 to US$0.54 per share. Net income forecast to grow 269% next year vs 25% growth forecast for Diversified Financial industry in the US. Consensus price target of US$6.22 unchanged from last update. Share price was steady at US$3.49 over the past week. Announcement • Apr 27
UWM Holdings Corporation, Annual General Meeting, Jun 03, 2026 UWM Holdings Corporation, Annual General Meeting, Jun 03, 2026. Location: uwm north campus, 585 s. boulevard e, michigan 48341, pontiac United States Announcement • Apr 25
UWM Holdings Corporation to Report Q1, 2026 Results on May 06, 2026 UWM Holdings Corporation announced that they will report Q1, 2026 results on May 06, 2026 Price Target Changed • Apr 24
Price target decreased by 8.8% to US$6.22 Down from US$6.82, the current price target is an average from 8 analysts. New target price is 65% above last closing price of US$3.78. Stock is down 15% over the past year. The company is forecast to post earnings per share of US$0.42 for next year compared to US$0.13 last year. Upcoming Dividend • Mar 13
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 19 March 2026. Payment date: 09 April 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 11%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (1.2%). New Risk • Mar 13
New major risk - Revenue and earnings growth Earnings have declined by 93% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 309% Paying a dividend despite having no free cash flows. Earnings have declined by 93% per year over the past 5 years. Declared Dividend • Feb 27
Fourth quarter dividend of US$0.10 announced Dividend of US$0.10 is the same as last year. Ex-date: 19th March 2026 Payment date: 9th April 2026 Dividend yield will be 9.1%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is not covered by earnings (309% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 5 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 243% to bring the payout ratio under control. EPS is expected to grow by 208% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Feb 26
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$0.13 (up from US$0.13 in FY 2024). Revenue: US$2.40b (down 2.3% from FY 2024). Net income: US$27.4m (up 90% from FY 2024). Profit margin: 1.1% (up from 0.6% in FY 2024). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 37%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Feb 13
UWM Holdings Corporation to Report Q4, 2025 Results on Feb 25, 2026 UWM Holdings Corporation announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Feb 25, 2026 Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$4.91, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 12x in the Diversified Financial industry in the US. Total returns to shareholders of 28% over the past three years. Announcement • Dec 18
UWM Holdings Corporation (NYSE:UWMC) entered into a definitive merger agreement Two Harbors Investment Corp. (NYSE:TWO) for $1.3 billion. UWM Holdings Corporation (NYSE:UWMC) entered into a definitive merger agreement Two Harbors Investment Corp. (NYSE:TWO) for $1.3 billion on December 17, 2025. The consideration consists of UWM Class A common stock common equity of UWM Holdings Corporation at a ratio of 2.3328 per common equity. Upon completion of the transaction, UWM shareholders will own approximately 87% of the combined company on a pro forma fully diluted basis, while TWO shareholders will own approximately 13%. The all-stock transaction is intended to be tax-free to TWO’s stockholders. The Board of the combined company is expected to expand to eleven directors through the addition of one additional director designated by TWO.
The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer board and approval of offer by target shareholders. The deal has been unanimously approved by the board. The transaction is expected to close in the second quarter of 2026.The transaction is accretive to earning.
BofA Securities, Inc. acted as financial advisor for UWM Holdings Corporation. Greenhill & Co., LLC acted as financial advisor for UWM Holdings Corporation. Greenberg, Traurig, PA acted as legal advisor for UWM Holdings Corporation. Houlihan Lokey, Inc. acted as financial advisor for Two Harbors Investment Corp. Jones Day acted as legal advisor for Two Harbors Investment Corp. Upcoming Dividend • Dec 11
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 18 December 2025. Payment date: 08 January 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.2%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (1.0%). Major Estimate Revision • Nov 14
Consensus revenue estimates increase by 13% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from US$2.20b to US$2.48b. EPS estimate unchanged from US$0.10 at last update. Diversified Financial industry in the US expected to see average net income growth of 25% next year. Consensus price target up from US$6.59 to US$7.00. Share price was steady at US$5.14 over the past week. Declared Dividend • Nov 09
Third quarter dividend of US$0.10 announced Dividend of US$0.10 is the same as last year. Ex-date: 18th December 2025 Payment date: 8th January 2026 Dividend yield will be 7.6%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is not covered by earnings (441% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 5 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 390% to bring the payout ratio under control. EPS is expected to grow by 202% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Nov 07
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: US$0.006 loss per share (improved from US$0.063 loss in 3Q 2024). Revenue: US$563.2m (down 42% from 3Q 2024). Net loss: US$1.26m (loss narrowed 80% from 3Q 2024). Revenue missed analyst estimates by 16%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Announcement • Oct 24
UWM Holdings Corporation to Report Q3, 2025 Results on Nov 06, 2025 UWM Holdings Corporation announced that they will report Q3, 2025 results on Nov 06, 2025 Price Target Changed • Oct 10
Price target increased by 8.3% to US$6.53 Up from US$6.03, the current price target is an average from 8 analysts. New target price is 22% above last closing price of US$5.35. Stock is down 28% over the past year. The company is forecast to post earnings per share of US$0.14 for next year compared to US$0.13 last year. Price Target Changed • Oct 07
Price target increased by 11% to US$6.41 Up from US$5.78, the current price target is an average from 8 analysts. New target price is 20% above last closing price of US$5.35. Stock is down 27% over the past year. The company is forecast to post earnings per share of US$0.14 for next year compared to US$0.13 last year. Upcoming Dividend • Sep 11
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 18 September 2025. Payment date: 09 October 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.8%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (0.9%). Major Estimate Revision • Sep 05
Consensus EPS estimates increase by 42% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from US$0.13 to US$0.185. Revenue forecast unchanged at US$2.10b. Net income forecast to grow 295% next year vs 22% growth forecast for Diversified Financial industry in the US. Consensus price target of US$5.78 unchanged from last update. Share price rose 11% to US$6.31 over the past week. Declared Dividend • Aug 10
Second quarter dividend of US$0.10 announced Dividend of US$0.10 is the same as last year. Ex-date: 18th September 2025 Payment date: 9th October 2025 Dividend yield will be 8.8%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 5x earnings) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 5 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 483% to bring the payout ratio under control. EPS is expected to grow by 303% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Aug 08
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.15 (up from US$0.032 in 2Q 2024). Revenue: US$242.8m (down 63% from 2Q 2024). Net income: US$36.6m (up US$33.5m from 2Q 2024). Profit margin: 15% (up from 0.5% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 35%. Earnings per share (EPS) also surpassed analyst estimates by 57%. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Price Target Changed • Aug 01
Price target decreased by 8.1% to US$5.84 Down from US$6.36, the current price target is an average from 8 analysts. New target price is 40% above last closing price of US$4.17. Stock is down 53% over the past year. The company is forecast to post earnings per share of US$0.24 for next year compared to US$0.13 last year. Announcement • Jul 25
UWM Holdings Corporation to Report Q2, 2025 Results on Aug 07, 2025 UWM Holdings Corporation announced that they will report Q2, 2025 results at 12:30 PM, US Eastern Standard Time on Aug 07, 2025 Upcoming Dividend • Jun 11
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 18 June 2025. Payment date: 10 July 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 9.3%. Within top quartile of American dividend payers (4.7%). Higher than average of industry peers (0.9%). Declared Dividend • May 09
First quarter dividend of US$0.10 announced Dividend of US$0.10 is the same as last year. Ex-date: 18th June 2025 Payment date: 10th July 2025 Dividend yield will be 9.5%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 4 years but payments have been stable during that time. Price Target Changed • May 07
Price target decreased by 8.3% to US$6.44 Down from US$7.03, the current price target is an average from 9 analysts. New target price is 58% above last closing price of US$4.08. Stock is down 43% over the past year. The company is forecast to post earnings per share of US$0.38 for next year compared to US$0.13 last year. Reported Earnings • May 06
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: US$0.083 loss per share (down from US$0.093 profit in 1Q 2024). Revenue: US$224.8m (down 62% from 1Q 2024). Net loss: US$13.7m (down 257% from profit in 1Q 2024). Revenue exceeded analyst estimates by 9.8%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Announcement • Apr 30
UWM Holdings Corporation to Report Q1, 2025 Results on May 06, 2025 UWM Holdings Corporation announced that they will report Q1, 2025 results on May 06, 2025 Announcement • Apr 28
UWM Holdings Corporation, Annual General Meeting, Jun 04, 2025 UWM Holdings Corporation, Annual General Meeting, Jun 04, 2025. Location: uwmmain campus north, auditorium 585 s., boulevard e, mi 48341, pontiac United States Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$4.71, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Diversified Financial industry in the US. Total returns to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$2.74 per share. Announcement • Apr 01
UWM Holdings Corporation Announces Chief Financial Officer Changes, Effective April 1, 2025 UWM Holdings Corporation has named Rami Hasani as its new Chief Financial Officer. Mr. Andrew Hubacker will be moving into a senior advisor role effective April 1, 2025. Mr. Hasani will assume the position effective April 1, 2025, and will oversee all financial aspects of the company including accounting, internal and external reporting, financial compliance, tax, treasury and liquidity management, and budgeting and forecasting. Mr. Hasani originally joined the company in November of 2020 as Vice President, Financial Reporting & Compliance. Prior to joining the Company, Mr. Hasani spent over 15 years at Deloitte & Touche, LLP, most recently serving as a Senior Manager in the Advisory practice. Mr. Hasani holds a B.S. degree from Oakland University in accounting and has been a Certified Public Accountant since 2004. Recent Insider Transactions Derivative • Mar 09
Chairman exercised options to buy US$693k worth of stock. On the 28th of February, Mathew Ishbia exercised 152.99k options to receive shares at no cost, then sold around 44.52k of them at US$6.28 each and kept the remainder. Since June 2024, Mathew has owned 171.52k shares directly. Company insiders have collectively bought US$805k more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • Mar 06
Consensus EPS estimates fall by 24%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from US$2.67b to US$2.73b. EPS estimate fell from US$0.543 to US$0.413 per share. Net income forecast to grow 372% next year vs 15% growth forecast for Diversified Financial industry in the US. Consensus price target reaffirmed at US$6.83. Share price rose 2.5% to US$6.23 over the past week. Declared Dividend • Mar 02
Fourth quarter dividend of US$0.10 announced Dividend of US$0.10 is the same as last year. Ex-date: 20th March 2025 Payment date: 10th April 2025 Dividend yield will be 6.4%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is not covered by earnings (309% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 4 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 244% to bring the payout ratio under control. EPS is expected to grow by 280% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Feb 26
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: US$0.13 (up from US$0.14 loss in FY 2023). Revenue: US$2.16b (flat on FY 2023). Net income: US$14.4m (up US$27.6m from FY 2023). Profit margin: 0.7% (up from net loss in FY 2023). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Announcement • Feb 12
UWM Holdings Corporation to Report Q4, 2024 Results on Feb 26, 2025 UWM Holdings Corporation announced that they will report Q4, 2024 results on Feb 26, 2025 Upcoming Dividend • Dec 12
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 19 December 2024. Payment date: 09 January 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 6.4%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (0.9%). New Risk • Dec 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 37% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 37% per year for the foreseeable future. Price Target Changed • Nov 14
Price target decreased by 7.9% to US$7.63 Down from US$8.28, the current price target is an average from 10 analysts. New target price is 33% above last closing price of US$5.74. Stock is up 1.1% over the past year. The company is forecast to post earnings per share of US$0.35 next year compared to a net loss per share of US$0.14 last year. Declared Dividend • Nov 10
Third quarter dividend of US$0.10 announced Dividend of US$0.10 is the same as last year. Ex-date: 19th December 2024 Payment date: 9th January 2025 Dividend yield will be 6.4%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 4 years but payments have been stable during that time. Reported Earnings • Nov 08
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$0.063 loss per share (down from US$0.20 profit in 3Q 2023). Revenue: US$526.4m (down 9.9% from 3Q 2023). Net loss: US$6.30m (down 135% from profit in 3Q 2023). Revenue missed analyst estimates by 12%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 147 percentage points per year, which is a significant difference in performance. Announcement • Nov 08
UWM Holdings Corporation Provides Production Guidance for the Fourth Quarter of 2024 UWM Holdings Corporation provided production guidance for the fourth quarter of 2024. The company anticipated third quarter production to be in the $34 billion to $41 billion range, with gain margin from 85 to 110 basis points. Announcement • Nov 01
UWM Holdings Corporation to Report Q3, 2024 Results on Nov 07, 2024 UWM Holdings Corporation announced that they will report Q3, 2024 results on Nov 07, 2024 Major Estimate Revision • Oct 06
Consensus EPS estimates increase by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$2.16b to US$2.19b. EPS estimate increased from US$0.27 to US$0.313 per share. Net income forecast to grow 1,184% next year vs 17% growth forecast for Diversified Financial industry in the US. Consensus price target broadly unchanged at US$7.83. Share price fell 9.9% to US$7.56 over the past week. 
