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Mr Cooper Group (COOP)
NASDAQ:COOP
Holding COOP?
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Earnings Data
Report Date
Feb 07, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$2.68Last Year’s EPS
$1.51Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: 4.48%
|Next Earnings Date:Feb 07, 2025
Earnings Call Sentiment|Positive
The earnings call presented a robust performance with significant growth in several key areas such as liquidity, servicing, and originations, and highlighted strategic advancements like the Flagstar acquisition and AI investments. However, there were challenges related to interest rate sensitivity, MSR mark down, and slightly increased delinquencies.Company Guidance
During the Q3 2024 earnings call for Mr. Cooper Group, several key metrics were highlighted as part of the company's financial performance and strategic direction. The company reported a pretax operating income of $246 million and an operating ROTCE of 16.8%, indicating a strong quarter. Tangible book value increased by 11% year-over-year to $69.93 per share, while the capital ratio stood at 27.9%, with liquidity reaching a record high of $4.1 billion. The servicing portfolio expanded to $1.2 trillion, encompassing 5.4 million customers and generating $305 million in pretax servicing income. The Originations segment exceeded guidance, delivering $69 million in pretax income, driven by a 32% year-over-year growth in the servicing portfolio and favorable mortgage rates. Notably, Mr. Cooper's direct-to-consumer and correspondent platforms achieved 80% sequential growth in fundings. The company also emphasized its commitment to enhancing customer experience through technological investments, including AI-driven initiatives, and anticipated the completion of the Flagstar acquisition in the fourth quarter. Looking ahead, Mr. Cooper aims to sustain its competitive position and expand its customer base, leveraging its data capabilities and strategic investments to drive long-term growth and profitability.Strong Quarterly Performance
Produced a solid quarter with pretax operating income of $246 million and operating ROTCE of 16.8%, exceeding guidance.
Tangible Book Value Growth
Tangible book value grew 11% year-over-year to $69.93 per share.
Record Liquidity and Capital Ratio
Liquidity at a record high of $4.1 billion and a strong capital ratio of 27.9%.
Servicing Portfolio Expansion
Servicing portfolio grew to $1.2 trillion, generating $305 million in pretax servicing income.
Originations Segment Outperformance
Originations segment generated $69 million of pretax income, significantly exceeding guidance.
Certification as a Great Place to Work
Certified as a great place to work for 6 consecutive years, highlighting positive company culture.
Flagstar Acquisition Progress
Flagstar acquisition remains on schedule to close in the fourth quarter.
Innovative AI Investment
Introduction of Agent IQ, an AI-driven coaching platform to enhance customer service efficiency.
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COOP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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COOP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $91.06 | $87.37 | -4.05% |
| Jul 25, 2024 | $86.64 | $92.54 | +6.81% |
| Apr 24, 2024 | $79.48 | $81.72 | +2.82% |
| Feb 09, 2024 | $68.27 | $71.97 | +5.42% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Mr Cooper Group (COOP) report earnings?
Mr Cooper Group (COOP) is schdueled to report earning on Feb 07, 2025, TBA Not Confirmed.
What is Mr Cooper Group (COOP) earnings time?
Mr Cooper Group (COOP) earnings time is at Feb 07, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is COOP EPS forecast?
COOP EPS forecast for the fiscal quarter 2024 (Q4) is $2.68.
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