David Spector
Chairman and Chief Executive Officer
Replay available
PennyMac Financial Services, Inc. (PFSI) Q2 2025 Earnings Call
PennyMac Financial Services, Inc. (NYSE: PFSI) Q2 2025 earnings conference call, held 2025-07-22. Replay captured from the company's public earnings webcast.
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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 00:00:01.432 -- 00:00:06.217 Good afternoon and welcome to PennyMac Financial Services, Inc.' 's second quarter 2025 00:00:06.217 -- 00:00:11.322 earnings call. Additional earnings materials, including presentation slides that 00:00:11.322 -- 00:00:18.227 will be referred to in this call, are available on PennyMac Financial's website at pfsi.pennymac.com. 00:00:20.091 -- 00:00:23.835 Before we begin, let me remind you that this call may contain forward-looking statements 00:00:23.835 -- 00:00:28.523 that are subject to certain risks identified on slide two, of the earnings presentation 00:00:28.523 -- 00:00:33.267 that could cause the company's actual results to differ materially, as well as non-GAAP 00:00:33.267 -- 00:00:38.312 measures that have been reconciled to their GAAP equivalent in the earnings materials. 00:00:38.312 -- 00:00:43.196 Now I'd like to introduce David Spector, PennyMac Financials Chairman and Chief Executive 00:00:43.196 -- 00:00:48.020 Officer, and Dan Perotti, PennyMac Financials Chief Financial Officer. 00:00:48.020 -- 00:00:50.362 Please go ahead. 00:00:50.362 -- 00:00:55.307 Thank you, operator. Good afternoon, and thank you to everyone for participating in our 00:00:55.307 -- 00:01:01.178 second quarter earnings call. For the second quarter, as shown on slide three, 00:01:01.178 -- 00:01:06.545 PFSI reported net income of $136 million, or diluted 00:01:06.545 -- 00:01:10.107 earnings per share of $2.54. This 00:01:10.490 -- 00:01:13.393 reflects an annualized return on equity of 14%. 00:01:13.393 -- 00:01:15.393 Excluding 00:01:15.536 -- 00:01:20.742 the impact of fair value changes and a non-recurring tax benefit, which Dan will talk 00:01:20.742 -- 00:01:27.068 about later, PFSI produced an annualized operating ROE of 13%. 00:01:...