PennyMac Financial Services, Inc. PFSI Income Statement

Pennymac financial services, inc. (PFSI)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Sep'17
Revenues:
Net gains on loans held for sale at fair value:
From non-affiliates
749,776	542,163	386,088	249,367	184,164	184,439	241,631	0	0	0
Net gains on loans held for sale at fair value
985,034	725,528	527,789	348,971	262,384	249,022	297,410	0	0	0
Loan origination fees from non-affiliates
191,365	159,461	124,322	103,476	92,540	94,208	101,667	0	0	0
Loan origination fees
207,797	174,156	136,453	113,504	101,008	101,641	108,644	0	0	0
Net loan servicing fees:
Loan servicing fees
From non-affiliates and affiliates
762,028	730,165	697,075	658,290	616,408	585,101	547,952	0	0	0
Other
105,302	98,564	93,359	84,350	71,979	64,133	60,365	0	0	0
Loan servicing fees
920,078	877,526	837,060	786,373	729,986	691,282	650,659	0	0	0
Amortization, impairment and change in fair value of mortgage servicing rights and mortgage servicing liabilities
468,903	593,117	537,959	438,825	323,283	237,389	228,199	0	0	0
Change in fair value of excess servicing spread payable to PennyMac Mortgage Investment Trust
449,176	583,861	525,914	431,753	320,811	245,889	232,397	0	0	0
Net loan servicing fees
470,902	293,665	311,146	354,620	409,175	445,393	418,262	0	0	0
Net interest income:
Interest income:
From non-affiliates
297,207	282,398	263,627	240,854	224,852	208,954	195,323	0	0	0
Interest income
302,931	288,700	270,418	247,930	232,134	216,416	203,125	0	0	0
Interest expense:
To non-affiliates
226,749	201,688	171,630	152,576	131,125	129,459	135,046	0	0	0
Interest expense
235,948	211,979	183,308	165,703	145,395	144,597	150,628	0	0	0
Net interest income
66,983	76,721	87,110	82,227	86,739	71,819	52,497	0	0	0
Management fees, net:
Management fees
38,299	36,492	32,737	29,110	25,942	24,469	24,126	0	0	0
Result of real estate acquired in settlement of loans
-424	557	111	105	835	589	-460	0	0	0
Other
8,211	8,880	9,060	9,286	9,731	9,253	7,535	0	0	0
Total net revenue
1,951,524	1,477,404	1,238,230	1,052,812	994,133	984,629	984,063	0	0	0
Expenses
Compensation
565,294	503,458	461,802	424,034	407,857	403,270	397,334	0	0	0
Loan origination
148,845	117,338	85,355	57,707	39,780	27,398	20,043	0	0	0
Servicing
176,570	164,697	148,728	141,616	141,098	137,104	120,554	0	0	0
Technology
71,087	67,946	67,487	62,375	61,449	60,103	58,973	0	0	0
Professional services
40,382	32,859	31,049	28,484	27,758	27,615	23,078	0	0	0
Occupancy and equipment
30,178	28,916	28,226	28,086	27,551	27,152	25,934	0	0	0
Marketing
-	-	-	-	-	-	-	-	0	0
Other
35,285	32,746	33,360	32,787	35,809	34,290	30,076	0	0	0
Total expenses
1,067,641	947,960	853,846	772,928	739,141	716,932	680,528	0	0	0
Income before provision for income taxes
883,883	529,444	384,384	279,884	254,992	267,697	303,535	0	0	0
Provision for income taxes
230,810	136,479	91,120	51,941	31,340	23,254	29,560	0	0	0
Net income
-	-	293,264	227,943	-	244,443	273,975	0	0	0
Less: Net income attributable to noncontrolling interest
-	-	-	-	-	156,749	207,949	0	0	0
Net income attributable to PennyMac Financial Services, Inc. common stockholders
653,073	392,965	279,053	172,069	117,210	87,694	66,026	0	0	0
Earnings per share
Basic (in dollars per share)
3.89	1.95	1.55	0.93	0.59	0.63	0.58	0.71	0.70	0.73
Diluted (in dollars per share)
3.73	1.88	1.51	0.92	0.58	0.65	0.57	0.70	0.67	0.71
Weighted-average shares outstanding
Basic (in shares)
78,689	78,475	78,361	78,335	77,653	60,180	25,125	24,959	23,832	23,426
Diluted (in shares)
82,008	82,374	80,382	79,318	79,286	-95,911	78,913	78,825	79,461	78,416
Dividend declared per share (in dollars per share)
0.12	-	-	-	-	-	0.40	-	-	-
PMT
From PennyMac Mortgage Investment Trust
0	-	0	0	0	-	0	0	0	-
Loan origination fees from PennyMac Mortgage Investment Trust
16,432	14,695	12,131	10,028	8,468	7,433	0	0	0	-
Fulfillment fees from PennyMac Mortgage Investment Trust
174,976	160,610	130,904	112,011	96,980	81,350	0	0	0	-
From non-affiliates and affiliates
52,748	48,797	46,626	43,733	41,596	42,045	0	0	0	-
Changes in fair value included in income
0	-	0	0	0	-	0	0	0	-
From PennyMac Mortgage Investment Trust
5,724	6,302	6,791	7,076	7,282	7,462	0	0	0	-
To PennyMac Mortgage Investment Trust
9,199	10,291	11,678	13,127	14,270	15,138	0	0	0	-
Management fees
38,299	36,492	32,737	29,121	26,017	24,465	0	0	0	-
Change in fair value of investment in and dividends received from affiliate
-633	416	290	353	342	332	0	0	0	-
Investment Funds
From non-affiliates and affiliates
-	-	-	-	-	-	-	0	-	-
Management fees
-	-	-	-	-	4	0	0	0	-
Carried interest from Investment Funds
-	-	-	-	-	-365	0	0	0	-