Walter Investment -3.3% after Q1 results

Core earnings of $58M or $1.53 per share are about flat with year-ago numbers.

Revenue of $369.9M gained 17% Y/Y; expenses of $338.5M rose 27% (compliance?)

Servicing segment revenue of $169.4M (up 35% Y/Y)

Originations segment revenue of $109.2M (down 20%)

Reverse mortgage segment revenue of $27.9M (down 29%)

Previous FY14 guidance of Adjusted EBITDA of $650M-$725M and core EPS of $5.25-$6.25 is unchanged. "The level of regulatory oversight has increased over the past year, impacting the sector as transaction flow has slowed."

CC at 10 ET

Previously: Walter Investment Management beats by $0.55, misses on revenue

WAC -3.3% premarket

Comments (1)
  • carnegielaker
    , contributor
    Comments (140) | Send Message
    7.4 million shares short...
    8 May 2014, 10:01 AM Reply Like
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