David Spector
Chairman and Chief Executive Officer, PennyMac Financial Services, Inc.
Replay available
PennyMac Financial Services, Inc. (PFSI) Q1 2025 Earnings Call
PennyMac Financial Services, Inc. (NYSE: PFSI) Q1 2025 earnings conference call, held 2025-04-22. Replay captured from the company's public earnings webcast.
Hosted by
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Investor webinar replay
Watch the replay and follow the connected company analysis, news, and investor updates for Pennymac Financial Services, Inc..
Replay transcript excerpt
WEBVTT 00:00:00.622 -- 00:00:06.448 Good afternoon and welcome to PennyMac's Financial Services, Inc.' 's first quarter 2025 00:00:06.448 -- 00:00:12.074 earnings call. Additional earnings materials, including presentation slides 00:00:12.074 -- 00:00:17.400 that will be referred to in this call, are available on PennyMac's financial website 00:00:17.400 -- 00:00:19.520 at pfsi.pennymac.com. 00:00:20.904 -- 00:00:25.990 Before we begin, let me remind you that this call may contain forward-looking statements 00:00:25.990 -- 00:00:31.246 that are subject to certain risks identified on slide two of the earnings presentation 00:00:31.246 -- 00:00:36.254 that could cause the company's actual results to differ materially, as well as non-GAAP 00:00:36.254 -- 00:00:42.183 measures that have been reconciled to their GAAP equivalent in the earnings materials. 00:00:42.183 -- 00:00:47.751 I'd now like to introduce David Spector, Panamax Financials Chairman and Chief Executive 00:00:47.751 -- 00:00:54.098 Officer, and Dan Perotti, Panamax Financials Chief Financial Officer. 00:00:55.543 -- 00:01:00.395 Thank you, Operator. Good afternoon and thank you to everyone for participating in our 00:01:00.395 -- 00:01:05.622 first quarter earnings call. For the first quarter, PFSI reported net 00:01:05.622 -- 00:01:11.190 income of $76 million for diluted earnings per share of $1.42 for 00:01:11.190 -- 00:01:15.677 an annualized return on equity of 8%. 00:01:15.677 -- 00:01:20.925 Excluding the impact of fair value changes, PFSI produced an annualized 00:01:20.925 -- 00:01:23.809 operating ROE of 15%, 00:01:23.809 -- 00:01:28.720 driven by continued strength in our servicing business and a solid contribution from 00:01:28.720 -- 00:01:33.185 our production segment despite elevated mortga...