David Spector
Chairman and Chief Executive Officer
Replay available
PennyMac Financial Services, Inc. (PFSI) Q4 2025 Earnings Call
PennyMac Financial Services, Inc. (NYSE: PFSI) Q4 2025 earnings conference call, held 2026-01-29. Replay captured from the company's public earnings webcast.
Hosted by
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Dan Perotti
Chief Financial Officer
Terry Ma
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Mark DeVries
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Rose George
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Doug Harder
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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 00:00:00.031 -- 00:00:05.140 Good afternoon, and welcome to PennyMac Financial Services, Inc.' 's fourth quarter and 00:00:05.140 -- 00:00:08.706 full year 2025 earnings call. 00:00:08.706 -- 00:00:13.114 Additional earnings materials, including presentation slides that will be referred to 00:00:13.114 -- 00:00:19.702 in this call, are available on PennyMac Financial's website at pfsi.pennymac.com. 00:00:22.745 -- 00:00:27.613 Before we begin, let me remind you that this call may contain forward-looking statements 00:00:27.613 -- 00:00:33.282 that are subject to certain risks identified on slide two of the earnings presentation 00:00:33.282 -- 00:00:38.911 that could cause the company's actual results to differ materially, as well as non-GAAP 00:00:38.911 -- 00:00:44.677 measures that have been reconciled to their GAAP equivalent in the earnings materials. 00:00:45.070 -- 00:00:50.076 Now I'd like to introduce David Spector, PennyMac Financial's Chairman and Chief 00:00:50.076 -- 00:00:55.322 Executive Officer, and Dan Perotti, PennyMac Financial's Chief Financial 00:00:55.322 -- 00:00:57.322 Officer. 00:00:58.205 -- 00:01:02.811 Thank you, Operator. Good afternoon, and thank you to everyone for participating in our 00:01:02.811 -- 00:01:07.897 fourth quarter and full year 2025 earnings call. 00:01:07.897 -- 00:01:13.302 As shown on slide three, PFSI finished the year with a solid fourth quarter. 00:01:13.302 -- 00:01:18.251 generating net income of $107 million, or $1.97 00:01:18.251 -- 00:01:23.801 per share. To refresh, in the third quarter, we capitalized 00:01:23.801 -- 00:01:28.891 on higher lock volumes driven by an initial decline in interest rates to generate 00:01:28.891 -- 00:01:32.237 an 18% annualized return on equity. 00:01:32.237 -- 00:01:36.725...