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SAN DIEGO - Guild Holdings Company (NYSE:GHLD) reported mixed fourth quarter results, with revenue beating expectations but earnings falling short of estimates. The mortgage lender’s shares dropped 2.7% following the announcement.
Guild reported adjusted earnings per share of $0.32 for the fourth quarter, missing analyst estimates of $0.34. However, revenue came in at $373 million, significantly above the consensus forecast of $297.29 million.
The company originated $6.7 billion in loans during the quarter, up 86% from $3.6 billion in the same period last year. Purchase mortgages accounted for 82% of originations, compared to the industry average of 62%.
"We delivered exceptional growth and strong results in 2024 that demonstrated the disciplined execution of our strategy to grow market share," said Terry Schmidt, Guild’s Chief Executive Officer.
Net income attributable to Guild was $97.9 million in Q4, compared to a net loss of $93 million in the year-ago quarter. The company’s gain on sale margin on originations was 317 basis points, down from 330 basis points last year.
Guild’s servicing portfolio unpaid principal balance grew 9% YoY to $93 billion as of December 31, 2024. The company retained mortgage servicing rights for 64% of total loans sold in the fourth quarter.
The board of directors declared a special cash dividend of $0.50 per share, payable on March 31, 2025. Guild also extended its share repurchase program to May 5, 2026, with $10 million remaining available for buybacks.
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