Velocity Financial Full Year 2024 Earnings: Beats Expectations

Velocity Financial (NYSE:VEL) Full Year 2024 Results

Key Financial Results

• Revenue: US$175.4m (up 33% from FY 2023).
• Net income: US$67.6m (up 31% from FY 2023).
• Profit margin: 39% (in line with FY 2023).
• EPS: US$2.07 (up from US$1.60 in FY 2023).

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

Velocity Financial Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 45%. Earnings per share (EPS) also surpassed analyst estimates by 3.4%.

In the last 12 months, the only revenue segment was Financial Services - Mortgage contributing US$175.4m. The largest operating expense was General & Administrative costs, amounting to US$79.1m (126% of total expenses). Explore how VEL's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Diversified Financial industry in the US.

Performance of the American Diversified Financial industry.

The company's shares are up 5.5% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Velocity Financial that you need to be mindful of.

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