David Spector
Chairman and Chief Executive Officer
Replay available
PennyMac Mortgage Investment Trust (PMT) Q2 2025 Earnings Call
PennyMac Mortgage Investment Trust (NYSE: PMT) Q2 2025 earnings conference call, held 2025-07-22. 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 Mortgage Investment Trust.
Replay transcript excerpt
WEBVTT 00:00:00.031 -- 00:00:05.657 Good afternoon and welcome to PennyMac Financial Services Inc's second quarter 2025 earnings 00:00:05.657 -- 00:00:10.602 call. Additional earnings materials, including presentation slides that will be referred 00:00:10.602 -- 00:00:16.806 to in this call, are available on PennyMac Financial's website at pfsi.pennymac.com. 00:00:18.650 -- 00:00:22.414 Before we begin, let me remind you that this call may contain forward-looking statements 00:00:22.414 -- 00:00:27.223 that are subject to certain risks identified on slide two, of the earnings presentation 00:00:27.223 -- 00:00:31.828 that could cause the company's actual results to differ materially, as well as non-GAAP 00:00:31.828 -- 00:00:36.893 measures that have been reconciled to their GAAP equivalent in the earnings materials. 00:00:36.893 -- 00:00:41.778 Now I'd like to introduce David Spector, PennyMac Financials Chairman and Chief Executive 00:00:41.778 -- 00:00:46.624 Officer, and Dan Perotti, PennyMac Financials Chief Financial Officer. 00:00:46.624 -- 00:00:48.946 Please go ahead. 00:00:48.946 -- 00:00:53.891 Thank you, operator. Good afternoon, and thank you to everyone for participating in our 00:00:53.891 -- 00:00:59.761 second quarter earnings call. For the second quarter, as shown on slide three, 00:00:59.761 -- 00:01:05.108 PFSI reported net income of $136 million, or diluted 00:01:05.108 -- 00:01:08.670 earnings per share of $2.54. This 00:01:09.053 -- 00:01:11.956 reflects an annualized return on equity of 14%. 00:01:11.956 -- 00:01:13.956 Excluding 00:01:14.119 -- 00:01:19.325 the impact of fair value changes and a non-recurring tax benefit, which Dan will talk 00:01:19.325 -- 00:01:25.631 about later, PFSI produced an annualized operating ROE of 13%. 00:01:25.6...