UWM Holdings reports 3Q EPS 1c, consensus 8c

Reports Q3 revenue $526.43M , consensus $584.52M…ReportsQ3 adjusted EBITDA of $107.2M in 3Q24 compared to $133.1M in 2Q24 and $112.1M in 3Q23 Mat Ishbia, Chairman and CEO of UWMC, said, “When looking at Q3, I am incredibly proud of our performance and two things jump out at me – first, we exceeded both our volume and margin guidance despite mortgage rates remaining higher than anticipated for most of the quarter. But a dip in rates for just a few weeks pushed us higher than we expected and provided a glimpse into the future. Second, UWM is on pace to have record purchase volume in 2024 despite a generationally slow existing home sales market. The broker channel continues to dominate the purchase market, and our results in Q3 also demonstrate how well UWM and the channel are positioned to capitalize on the inevitable increase in refinance volume when it comes. Right now, UWM is so much better positioned than we were prior to the