Overview
LoanDepot Q3 adjusted revenue beats analyst expectations, rising 11% quarter-over-quarter
Company narrows Q3 net loss to $9 mln from $25 mln in prior quarter
Adjusted EBITDA for Q3 beats consensus, increasing 90% quarter-over-quarter
Outlook
LoanDepot expects Q4 origination volume between $6.5 bln and $8.5 bln
Company sees Q4 pull-through weighted rate lock volume between $6.0 bln and $8.0 bln
LoanDepot anticipates Q4 pull-through weighted gain on sale margin of 300-325 basis points
Result Drivers
HIGHER PULL-THROUGH VOLUME - Increased pull-through weighted lock volume contributed to revenue growth
RESHAPED LEADERSHIP - CEO Anthony Hsieh attributes improved operational focus to reshaped leadership team
EXPENSE MANAGEMENT - CFO David Hayes cites disciplined expense management for narrowing loss
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | $323.32 mln | ||
Q3 Adjusted Revenue | Beat | $325.16 mln | $312.94 mln (4 Analysts) |
Q3 EPS | -$0.02 | ||
Q3 Adjusted Net Income | Beat | -$2.85 mln | -$7.17 mln (5 Analysts) |
Q3 Net Income | -$8.73 mln | ||
Q3 Adjusted EBITDA | Beat | $48.79 mln | $28.40 mln (1 Analyst) |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and 2 "sell" or "strong sell"
Wall Street's median 12-month price target for loanDepot Inc is $3.00, about 7% above its November 5 closing price of $2.79
The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 62 three months ago
Press Release: ID:nBwbKJRfza
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)