UWMC - UWM Holdings stock climbs after Q4 revenue beat; gain margin outlook improves
- UWM Holdings ( NYSE: UWMC ) stock jumped 7.3% in late Wednesday trading after the wholesale mortgage company posted better-than-expected Q4 revenue even as the real estate sector suffered from rising mortgage rates.
- In addition, it expects Q1 2023 gain margin, a measure of profitability, to improve to 75-100 basis points compared with 51 bps in Q4 2022.
- It expects loan origination volume of $16B-$23B in Q1, compared with $25.1B reported for Q4 2022.
- Q4 revenue of $302.4M , topping $295.1M consensus, fell from $684.2M in the prior quarter and dropped $606.5M from Q4 2021.
- Q4 adjusted net income of -$53.3M fell from $254.3M in Q3 and from $177.2M in Q4 2021.
- Q4 originations of $25.1B dropped from $33.5B in the prior quarter and from $55.2B in the year-ago period.
- Total gain margin was 51 bps, 1 bp lower than Q3 and down from 80 bps in Q4 2021.
- Earlier, UWM Holdings ( UWMC ) GAAP EPS of -$0.03 misses by $0.04, revenue of $302.43M beats by $7.33M
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UWM Holdings stock climbs after Q4 revenue beat; gain margin outlook improves