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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 614M | 30.2% |
| Gross Profit | -46M | 37.9% |
| Cost of Revenue | 231M | 0.1% |
| Operating expense | 272M | 4% |
| Net Income | 98M | 150% |
| EBITDA | 349M | 59% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 21.6B | 9% |
| Total Liabilities | 17.9B | 10.4% |
| Total Equity | 3.66B | 2.5% |
| Shares Outstanding | 51M | 0.2% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | -1.09B | 21.7% |
| Cash from investing | -738M | 5.7% |
| Cash from financing | 1.5B | 10.2% |
EPS
Financial Highlights for PennyMac Financial Services in Q2 '24
PennyMac Financial Services reported a revenue of 614M, which is a 30.2% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at -46M, marking a 37.9% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 231M, a 0.1% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 272M, showing a 4% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 98M, showing a 150% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 349M, showing a 59% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for PennyMac Financial Services with growth in revenue, gross profit, and net income. Higher operating expenses might indicate increased investments or potential inefficiencies.
