Shanna Kui
Analyst at Barclays
Replay available
PennyMac Financial Services, Inc. (PFSI) Q1 2026 Earnings Call
PennyMac Financial Services, Inc. (NYSE: PFSI) Q1 2026 earnings conference call, held 2026-05-05. Replay captured from the company's public earnings webcast.
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Trevor Cranston
Analyst at Citizens JMP
Kyle Joseph
Analyst at Stephens
Dan Perotti
Chief Financial Officer
Unidentified Analyst
Analyst
David Spector
Chairman and Chief Executive Officer
Mark DeVries
Analyst at Deutsche Bank
Doug Harder
Analyst at BTIG
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 00:00:00.031 -- 00:00:04.477 Good afternoon and welcome to PennyMac Financial Services, Inc.' 's first quarter 2026 00:00:04.477 -- 00:00:09.824 earnings call. Additional earnings materials, including presentation slides 00:00:09.824 -- 00:00:14.530 that will be referred to in this call, as well as an Excel file with supplemental information 00:00:14.530 -- 00:00:19.293 are available on PennyMac Financial's website at pfsi.pennymac.com. 00:00:20.938 -- 00:00:24.602 Before we begin, let me remind you that this call may contain forward-looking statements 00:00:24.602 -- 00:00:29.292 that are subject to certain risks identified on slide two of the earnings presentation. 00:00:29.292 -- 00:00:34.439 that could cause the company's actual results to differ materially, as well as non-GAAP 00:00:34.439 -- 00:00:40.107 measures that have been reconciled to their GAAP equivalent in the earnings materials. 00:00:40.107 -- 00:00:44.313 Now I'd like to introduce David Spector, PennyMac Financial's Chairman and Chief Executive 00:00:44.313 -- 00:00:50.058 Officer, and Dan Perotti, PennyMac Financial's Chief Financial Officer. 00:00:52.103 -- 00:00:57.150 Thank you, Operator. Good afternoon, and thank you to everyone for participating in 00:00:57.150 -- 00:00:59.414 our first quarter 2026 00:00:59.414 -- 00:01:01.376 earnings call. 00:01:01.376 -- 00:01:06.803 As shown on slide three, PennyMac Financial generated net income of $82 00:01:06.803 -- 00:01:12.210 million in the first quarter for $1.53 in earnings per diluted 00:01:12.210 -- 00:01:16.555 share for an 8% annualized return on equity. 00:01:16.555 -- 00:01:21.621 Excluding the impact of valuation-related changes and transaction expenses 00:01:21.621 -- 00:01:26.751 related to our acquisition of similar subservicing ...