UWM Holdings Q3 adjusted EPS beats estimates
UWMC•UWM Holdings reported Q3 adjusted EPS of $0.10, above the $0.05 analyst estimate, while revenue was $811.09 million and loan origination volume declined year over year.
1. Quarterly results
UWM Holdings reported Q3 adjusted EPS of $0.10, compared with the $0.05 consensus estimate from eight analysts. Revenue was $811.09 million, adjusted net income was $158.07 million and net income was $212.57 million.
2. Origination trends
The company said loan origination volume declined sequentially and year over year due to higher interest rates. It said investments in artificial intelligence and technology improved efficiencies and helped lower expenses, while the broker channel remained resilient. UWM did not provide specific financial guidance for current or future periods.
