Overview

* LoanDepot ( LDI ) adjusted revenue misses estimates

* Q2 revenue rises 3% to $283 mln

* Net loss narrows to $25 mln from $41 mln in prior qtr

* Adjusted EBITDA increases to $26 mln, but misses expectations

Outlook

* Company expects Q3 origination volume between $5.0 bln and $7.0 bln

* Company projects Q3 pull-through weighted rate lock volume of $5.25 bln to $7.25 bln

* Company anticipates Q3 pull-through weighted gain on sale margin of 325-350 basis points

Result Drivers

* REVENUE GROWTH - Revenue increased 3% to $283 mln due to higher pull-through weighted lock volume and servicing income

* EXPENSE MANAGEMENT - Expenses decreased 2% to $315 mln, driven by lower general and administrative expenses

* TECHNOLOGY FOCUS - New leadership appointments to drive digital transformation and innovation, per CEO Anthony Hsieh

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $282.54

Revenue mln

Q2 Miss $291.91 $309.70

Adjusted mln mln (3

Revenue Analysts

)

Q2 EPS -$0.06

Q2 Miss -$16.01 -$12.40

Adjusted mln mln (4

Net Analysts

Income )

Q2 Net -$25.27

Income mln

Q2 Miss $25.63 $49.40

Adjusted mln mln (1

EBITDA Analyst)

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"

* Wall Street's median 12-month price target for loanDepot Inc is $1.30, about 44.6% below its August 6 closing price of $1.88

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)