loanDepot (LDI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
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For the quarter ended June 2024, loanDepot (LDI) reported revenue of $265.39 million, down 2.4% over the same period last year. EPS came in at -$0.05, compared to -$0.19 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $267.66 million, representing a surprise of -0.85%. The company delivered an EPS surprise of +37.50%, with the consensus EPS estimate being -$0.08.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how loanDepot performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  1. Revenues- Net interest income

    : -$0.63 million versus the two-analyst average estimate of $2.10 million. The reported number represents a year-over-year change of -122.1%.

  2. Revenues- Other income

    : $15.31 million versus the two-analyst average estimate of $23 million. The reported number represents a year-over-year change of -10.2%.

  3. Revenues- Servicing fee income

    : $125.08 million compared to the $127.40 million average estimate based on two analysts. The reported number represents a change of +6.2% year over year.

  4. Revenues- Change in fair value of servicing rights, net

    : -$60.79 million versus the two-analyst average estimate of -$45.30 million. The reported number represents a year-over-year change of +58%.

View all Key Company Metrics for loanDepot here>>>

Shares of loanDepot have returned +38.1% over the past month versus the Zacks S&P 500 composite's -6.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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