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Velocity Financial, Inc. (VEL)
:VEL
Holding VEL?
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.48Last Year’s EPS
0.46Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 13, 2020
|% Change Since: -2.87%
|Next Earnings Date:May 13, 2020
Earnings Call Sentiment|Positive
The earnings call reflects a robust quarter with significant growth in loan origination and income. Securitizations have been successful, and the company enjoys a strong pipeline indicating continued momentum. However, the non-performing loan rate remains high, and there are potential risks associated with lengthy foreclosure processes in certain states. Overall, the positives heavily outweigh the negatives.Company Guidance
During Velocity Financial's Q3 2024 earnings call, the company provided optimistic guidance based on strong performance metrics. CEO Christopher Farrar highlighted a significant 64% increase in origination volumes compared to the same quarter last year, leading to a net portfolio growth of $876 million, or 22% in total unpaid principal balance (UPB). The weighted average loan-to-value (LTV) decreased to 63%, while net interest income rose by 29%, and net interest margin (NIM) improved by 26 basis points. The special servicing team successfully resolved delinquent assets, contributing to a 3.4% gain over UPB in nonperforming loans. Farrar also noted a record 900 applications in October, amounting to over $450 million in UPB, positioning the company to surpass its $5 billion UPB portfolio goal by 2025. The company’s capital markets activities, including a recent securitization that was six times oversubscribed, achieved a favorable cost of funds of approximately 6%. Overall, Velocity Financial anticipates continued growth and robust market conditions, with the expectation of further earnings increases.Record Loan Origination Growth
Origination volumes grew by 64% over the prior year quarter, with net portfolio growth of $876 million or 22% in total UPB.
Increased Net Interest Income and Earnings
Net interest income increased by 29%, with a net interest margin up by 26 basis points and earnings growing by 31%.
Successful Securitization
The latest securitization deal was 6x oversubscribed on the AAA bonds, leading to an excellent cost of funds of approximately 6%.
Healthy Loan Pipeline
A record of over 900 applications for more than $450 million in UPB was received in October.
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VEL 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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VEL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $19.49 | $19.82 | +1.69% |
| Aug 01, 2024 | $18.65 | $18.63 | -0.11% |
| May 02, 2024 | $17.34 | $17.33 | -0.06% |
| Mar 07, 2024 | $16.08 | $16.73 | +4.04% |
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 Velocity Financial, Inc. (VEL) report earnings?
Velocity Financial, Inc. (VEL) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Velocity Financial, Inc. (VEL) earnings time?
Velocity Financial, Inc. (VEL) earnings time is at Mar 06, 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 VEL EPS forecast?
VEL EPS forecast for the fiscal quarter 2024 (Q4) is 0.48.
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