PennyMac Financial Services Inc (NYSE:PFSI)
$ 102.07 -0.9 (-0.87%) Market Cap: 5.28 Bil Enterprise Value: 21.94 Bil PE Ratio: 32.69 PB Ratio: 1.41 GF Score: 72/100
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Q1 2019 PennyMac Financial Services Inc Earnings Call (Pre-recorded) Transcript

May 02, 2019 / 08:30PM GMT
Release Date Price: $22 (-0.45%)
Christopher Oltmann
PennyMac Financial Services, Inc. - SVP of IR

Good afternoon, and welcome to the first quarter 2019 earnings discussion for PennyMac Financial Services, Inc. The slides that accompany this discussion are available from PennyMac Financial's website at ir.pennymacfinancial.com.

Before we begin, please take a few moments to read the disclaimer on Slide 2 of the presentation. Thank you.

Now I'd like to turn the discussion over to Stan Kurland, PennyMac Financial's Executive Chairman.

Stanford Lee Kurland
PennyMac Financial Services, Inc. - Executive Chairman

Thank you, Chris. Let's begin with Slide 3. PennyMac Financial's first quarter financial results reflect significant interest rate volatility during the quarter that resulted in lower mortgage rates and improving production trends in addition to an adverse impact on the value of our mortgage servicing rights, which were largely offset by the effectiveness of our hedging strategies. For the quarter, PennyMac Financial earned net income of $46.1 million or diluted

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