Overview

* LoanDepot ( LDI ) Q3 adjusted revenue beats analyst expectations, rising 11% quarter-over-quarter

* Company narrows Q3 net loss to $9 mln from $25 mln in prior quarter

* Adjusted EBITDA for Q3 beats consensus, increasing 90% quarter-over-quarter

Outlook

* LoanDepot ( LDI ) expects Q4 origination volume between $6.5 bln and $8.5 bln

* Company sees Q4 pull-through weighted rate lock volume between $6.0 bln and $8.0 bln

* LoanDepot ( LDI ) anticipates Q4 pull-through weighted gain on sale margin of 300-325 basis points

Result Drivers

* HIGHER PULL-THROUGH VOLUME - Increased pull-through weighted lock volume contributed to revenue growth

* RESHAPED LEADERSHIP - CEO Anthony Hsieh attributes improved operational focus to reshaped leadership team

* EXPENSE MANAGEMENT - CFO David Hayes cites disciplined expense management for narrowing loss

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $323.32

Revenue mln

Q3 Beat $325.16 $312.94

Adjusted mln mln (4

Revenue Analysts

)

Q3 EPS -$0.02

Q3 Beat -$2.85 -$7.17

Adjusted mln mln (5

Net Analysts

Income )

Q3 Net -$8.73

Income mln

Q3 Beat $48.79 $28.40

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", 4 "hold" and 2 "sell" or "strong sell"

* Wall Street's median 12-month price target for loanDepot Inc is $3.00, about 7% above its November 5 closing price of $2.79

* The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 62 three months ago

Press Release:

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(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.)