UWM Holdings Swings to Q1 Profit, Net Revenue Rises-February 2024-www.financetom.com

UWM Holdings Swings to Q1 Profit, Net Revenue Rises

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UWM Holdings Swings to Q1 Profit, Net Revenue Rises

May 9, 2024 6:20 AM

08:59 AM EDT, 05/09/2024 (MT Newswires) -- UWM Holdings ( UWMC ) reported Q1 earnings Thursday of $0.09 per share, swinging from a loss of $0.13 per share a year earlier.

Analysts polled by Capital IQ expected $0.06.

Total net revenue for the quarter ended March 31 was $570 million, up from $161.3 million a year earlier.

Analysts surveyed by Capital IQ expected $466 million.

The mortgage lending company said it anticipates Q2 production in the range of $28 billion to $35 billion.

The company maintained its quarterly dividend at $0.10 per Class A common share, payable July 11 to shareholders of record as of June 20.

Price: 7.10, Change: -0.05, Percent Change: -0.71

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