- Originations of $2.7 Billion
- Net Revenue of $103.9 Million
- Net Loss of $37.2 Million
- Adjusted Net Loss of $2.5 Million
- Return on Equity of (12.1)% and Adjusted ROE of
(0.8)%
- Gain on Sale Margin on Originations of 343 bps
- Purchase Recapture Rate of 24%
- Completed Acquisition Subsequent to Quarter-End Which
Expanded Presence Across 45 States and Expanded Reverse
Mortgage Division
Guild Holdings Company (NYSE: GHLD) (“Guild” or the “Company”),
a growth-oriented mortgage company that employs a
relationship-based loan sourcing strategy to execute on its mission
of delivering the promise of homeownership, today announced results
for the first quarter ended March 31, 2023.
“Our first quarter results came in largely as expected as the
mortgage industry continues to face pressure from higher interest
rates and limited home inventory,” stated Mary Ann McGarry, Chief
Executive Officer. “However, Guild’s differentiated strategy has
allowed us to gain market share and, we believe, position us for
accelerated growth as demand returns. In particular, we’re seeing
the benefits of our focus on the purchase mortgage market, our new
products to meet the evolving needs of buyers, and our network of
loan officers with deep relationships. With our recent acquisitions
we are further building our foundation to drive growth, and we
anticipate gaining additional market share as the acquisitions are
fully integrated and continue to ramp. In addition to the
acquisitions expanding our retail footprint, they have extended our
product capabilities including a reverse mortgage product which
will further strengthen our offerings and help us to serve more
borrowers nationwide. Furthermore, we’re maintaining a solid
balance sheet and liquidity position, and will continue to seek
selective opportunities to invest and best position Guild as the
market normalizes. Looking ahead, we anticipate continued pressure
in the near term, but expect some pickup in mortgage activity as we
enter the traditional home sales season.”
First Quarter
2023
Highlights
Total in-house originations of $2.7
billion compared to $3.0 billion in the prior quarter
Originated 92% of closed loan origination
volume from purchase business, compared to the Mortgage Bankers
Association estimate of 80%
Net revenue of $103.9 million compared to
$134.3 million in the prior quarter
Net loss of $37.2 million compared to
$15.0 million in the prior quarter
Servicing portfolio unpaid principal
balance of $79.9 billion as of March 31, 2023, up 1.3% compared to
$78.9 billion as of December 31, 2022
Adjusted net loss and Adjusted EBITDA
totaled $2.5 million and $1.1 million, respectively, compared to
adjusted net loss and adjusted EBITDA of $0.1 million and $1.9
million, respectively, in the prior quarter
Return on equity of (12.1)% and adjusted
return on equity of (0.8)%, compared to (4.8)% and 0.0%,
respectively, in the prior quarter
First Quarter Summary
Please refer to “Key Performance Indicators” and “GAAP to
Non-GAAP Reconciliations” elsewhere in this release for a
description of the key performance indicators and definitions of
the non-GAAP measures and reconciliations to the nearest comparable
financial measures calculated and presented in accordance with
accounting principles generally accepted in the United States of
America (“GAAP”).
($ amounts in millions, except per share
amounts)
1Q’23
4Q’22
%∆
Total in-house originations
$
2,701.4
$
2,975.9
(9)%
Gain on sale margin on originations
(bps)
343
331
4%
Gain on sale margin on pull-through
adjusted locked volume (bps)
284
351
(19)%
UPB of servicing portfolio (period
end)
$
79,916.6
$
78,893.0
1%
Net revenue
$
103.9
$
134.3
(23)%
Total expenses
$
154.7
$
157.5
(2)%
Net loss
$
(37.2)
$
(15.0)
148%
Return on equity
(12.1) %
(4.8) %
153%
Adjusted net loss
$
(2.5)
$
(0.1)
NM
Adjusted EBITDA
$
1.1
$
1.9
(41)%
Adjusted return on equity
(0.8) %
— %
NM
Loss per share
$
(0.61)
$
(0.25)
148%
Diluted loss per share
$
(0.61)
$
(0.25)
148%
Adjusted loss per share
$
(0.04)
$
—
NM
Origination Segment Results
Origination segment net loss was $32.8 million in the first
quarter compared to net loss of $26.6 million in the prior quarter
primarily driven by lower origination volumes as a result of higher
interest rates. Gain on sale margins on originations increased 12
bps quarter-over-quarter to 343 bps. Gain on sale margins on
pull-through adjusted locked volume decreased 67 bps
quarter-over-quarter to 284 bps and total pull-through adjusted
locked volume was $3.3 billion compared to $2.8 billion in the
prior quarter. The increase in pull-through adjusted volume, up 21%
over originations, creates a negative timing impact for gain on
sale on pull-through adjusted volume and is not indicative of
future expected gain on sale margins.
($ amounts in millions)
1Q’23
4Q’22
%∆
Total in-house originations
$
2,701.4
$
2,975.9
(9)%
In-house originations # (000’s)
9
9
—%
Net revenue
$
93.6
$
101.5
(8)%
Total expenses
$
126.3
$
128.0
(1)%
Net loss allocated to origination
$
(32.8)
$
(26.6)
23%
Servicing Segment Results
Servicing segment net loss was $0.3 million in the first quarter
compared to net income of $21.5 million in the prior quarter. The
Company retained mortgage servicing rights (“MSRs”) for 87% of
total loans sold in the first quarter of 2023.
Net revenue totaled $13.1 million compared to $34.8 million in
the prior quarter primarily due to adjustments to the fair value of
the Company’s MSRs. In the first quarter of 2023, fair value
adjustments with respect to the Company’s MSRs totaled a loss of
$54.9 million, compared to $29.9 million in the prior quarter.
Guild’s purchase recapture rate was 24% in the first quarter of
2023, which reinforces the Company’s focus on customer service and
synergistic business model.
($ amounts in millions)
1Q’23
4Q’22
%∆
UPB of servicing portfolio (period
end)
$
79,916.6
$
78,893.0
1%
# Loans serviced (000’s) (period end)
328
324
1%
Loan servicing and other fees
$
60.1
$
58.0
4%
Valuation adjustment of MSRs
$
(54.9)
$
(29.9)
84%
Net revenue
$
13.1
$
34.8
(62)%
Total expenses
$
13.4
$
13.3
1%
Net (loss) income allocated to
servicing
$
(0.3)
$
21.5
(101)%
Share Repurchase Program
During the three months ended March 31, 2023, the Company
repurchased and subsequently retired 50,166 shares of Guild's Class
A common stock at an average purchase price of $11.26 per share. As
of March 31, 2023, $13.9 million remained available for repurchase
under the Company’s share repurchase program.
Balance Sheet and Liquidity Highlights
The Company’s operating cash position was $147.8 million as of
March 31, 2023. The Company’s unutilized loan funding capacity was
$1.2 billion, while the unutilized MSR lines of credit was $205.0
million, based on total committed amounts and borrowing base
limitations. The Company’s leverage ratio was 0.9x, defined as
total secured debt including funding divided by tangible
stockholders’ equity.
(in millions)
March 31, 2023
December 31,
2022
Cash and cash equivalents
$
147.8
$
137.9
Mortgage servicing rights, net
$
1,112.2
$
1,139.5
Warehouse lines of credit
$
762.1
$
713.2
Notes payable
$
130.0
$
126.3
Total stockholders’ equity
$
1,213.3
$
1,249.3
Webcast and Conference Call
The Company will host a webcast and conference call on Monday,
May 8, 2023 at 5:00 p.m. Eastern Time to discuss the Company’s
results for the first quarter ended March 31, 2023.
The conference call will be available on the Company's website
at https://ir.guildmortgage.com/. To listen to a live broadcast, go
to the site at least 15 minutes prior to the scheduled start time
to register. The conference call can also be accessed by the
following dial-in information:
- 1-877-300-8521 (Domestic)
- 1-412-317-6026 (International)
A replay of the call will be available on the Company's website
at https://ir.guildmortgage.com/ approximately two hours after the
live call through May 22, 2023. The replay is also available by
dialing 1-844-512-2921 (United States) or 1-412-317-6671
(international). The replay pin number is 10176707.
About Guild Holdings Company
Founded in 1960 when the modern U.S. mortgage industry was just
forming, Guild Holdings Company is a nationally recognized
independent mortgage lender providing residential mortgage products
and local in-house origination and servicing. Guild’s collaborative
culture and commitment to diversity and inclusion enable it to
deliver a personalized experience for each customer. With more than
4,000 employees and over 270 retail branches, Guild has
relationships with credit unions, community banks, and other
financial institutions and services loans in 49 states and the
District of Columbia. Guild’s highly trained loan professionals are
experienced in government-sponsored programs such as FHA, VA, USDA,
down payment assistance programs and other specialized loan
programs. Its shares of Class A common stock trade on the New York
Stock Exchange under the symbol GHLD.
Forward-Looking Statements
This press release contains forward-looking statements,
including statements about the Company’s expectations for gaining
market share, ability to capitalize on M&A opportunities,
expectations for increased home sales and mortgage activity, and
ability to continue to repurchase shares of the Company’s Class A
common stock pursuant to its share repurchase program. These
forward-looking statements reflect our current views with respect
to, among other things, future events and our financial
performance. These statements are often, but not always, made
through the use of words or phrases such as “may,” “should,”
“could,” “predict,” “potential,” “believe,” “will likely result,”
“expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,”
“intend,” “plan,” “projection,” “would” and “outlook,” or the
negative version of those words or other comparable words or
phrases of a future or forward-looking nature. These
forward-looking statements are not historical facts and are based
on current expectations, estimates and projections about our
industry, management’s beliefs and certain assumptions made by
management, many of which, by their nature, are inherently
uncertain and beyond our control. Accordingly, we caution you that
any such forward-looking statements are not guarantees of future
performance and are subject to risks, assumptions and uncertainties
that are difficult to predict. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable as of the date made, actual results may prove to be
materially different from the results expressed or implied by the
forward-looking statements.
Important factors that could cause our actual results to differ
materially from those indicated in these forward-looking statements
include, but are not limited to, the following: any disruptions in
the secondary home loan market and their effects on our ability to
sell the loans that we originate; any changes in macroeconomic and
U.S. residential real estate market conditions; any changes in
certain U.S. government-sponsored entities and government agencies,
and any organizational or pricing changes in these entities, their
guidelines or their current roles; any changes in prevailing
interest rates or U.S. monetary policies; the effects of any
termination of our servicing rights; the effects of our existing
and future indebtedness on our liquidity and our ability to operate
our business; any disruption in the technology that supports our
origination and servicing platform; our failure to identify,
develop and integrate acquisitions of other companies or
technologies; the effects of the ongoing COVID-19 pandemic;
pressure from existing and new competitors; any failure to maintain
or grow our historical referral relationships with our referral
partners; any delays in recovering service advances; inaccuracies
in the estimates of the fair value of the substantial portion of
our assets that are measured on that basis (including our MSRs);
any failure to adapt to and implement technological changes; the
failure of the internal models that we use to manage risk and make
business decisions to produce reliable or accurate results; the
degree of business and financial risk associated with certain of
our loans; any cybersecurity breaches or other vulnerability
involving our computer systems or those of certain of our
third-party service providers; our inability to secure additional
capital, if needed, to operate and grow our business; the impact of
operational risks, including employee or consumer fraud, the
obligation to repurchase sold loans in the event of a documentation
error, and data processing system failures and errors; any
repurchase or indemnification obligations caused by the failure of
the loans that we originate to meet certain criteria or
characteristics; the seasonality of the mortgage origination
industry; any failure to protect our brand and reputation; any
non-compliance with the complex laws and regulations governing our
mortgage loan origination and servicing activities; material
changes to the laws, regulations or practices applicable to reverse
mortgage programs; our control by, and any conflicts of interest
with, McCarthy Capital Mortgage Investors, LLC; the risks related
to our status as a “controlled company”; the significant influence
on our business that members of our board and management team are
able to exercise as stockholders; our dependence, as a holding
company, upon distributions from Guild Mortgage Company LLC to meet
our obligations; the risks related to the trading market of our
Class A common stock due to our dual class common stock structure;
our ability to complete repurchases under the share repurchase
program in the amount authorized or at all and the impact of the
share repurchase program on our business and financial condition;
the identification of material weaknesses in our internal control
over financial reporting; and the other risks, uncertainties and
factors set forth under Item IA. – Risk Factors and all other
disclosures appearing in Guild’s Annual Report on Form 10-K for the
year ended December 31, 2022, as well as other documents Guild
files from time to time with the Securities and Exchange
Commission.
The foregoing factors should not be construed as exhaustive and
should be read together with the other cautionary statements
included in this press release. If one or more events related to
these or other risks or uncertainties materialize, or if our
underlying assumptions prove to be incorrect, actual results may
differ materially from what we anticipate. Many of the important
factors that will determine these results are beyond our ability to
control or predict. Accordingly, you should not place undue
reliance on any such forward-looking statements.
Any forward-looking statement speaks only as of the date on
which it is made, and, except as otherwise required by law, we
undertake no obligation to update any forward-looking statement
made in this press release to reflect events or circumstances after
the date of this press release or to reflect new information or the
occurrence of unanticipated events. We may not actually achieve the
plans, intentions or expectations disclosed in our forward-looking
statements and you should not place undue reliance on our
forward-looking statements. Our forward-looking statements do not
reflect the potential impact of any future acquisitions, mergers,
dispositions, joint ventures, or investments we may make.
Non-GAAP Financial Measures
To supplement our financial statements presented in accordance
with GAAP and to provide investors with additional information
regarding our GAAP financial results, we disclose certain financial
measures for our consolidated and operating segment results on both
a GAAP and a non-GAAP (adjusted) basis. The non-GAAP financial
measures disclosed should be viewed in addition to, and not as an
alternative to, results prepared in accordance with GAAP. These
non-GAAP financial measures are not based on any standardized
methodology prescribed by GAAP and are not necessarily comparable
to similarly titled measures presented by other companies.
Adjusted Net Income (Loss). We define Adjusted Net Income
(Loss) as earnings attributable to Guild before the change in the
fair value measurements related to our MSRs, contingent liabilities
related to completed acquisitions due to changes in valuation
assumptions, amortization of acquired intangible assets and
stock-based compensation. We exclude these items because we believe
they are non-cash expenses that are not reflective of our core
operations or indicative of our ongoing operations. Adjusted Net
Income (Loss) is also adjusted by applying an estimated effective
tax rate to these adjustments. In addition we exclude the change in
the fair value of MSRs due to changes in model inputs and
assumptions from Adjusted Net Income (Loss) and Adjusted EBITDA
below because we believe this non-cash, non-realized adjustment to
net revenues is not indicative of our operating performance or
results of operations but rather reflects changes in model inputs
and assumptions (e.g., prepayment speed, discount rate and cost to
service assumptions) that impact the carrying value of our MSRs
from period to period.
Adjusted Earnings Per Share. We define Adjusted Earnings
Per Share as our adjusted net income divided by the basic weighted
average shares outstanding of our Class A and Class B common
stock.
Adjusted EBITDA. We define Adjusted EBITDA as earnings
before interest (without adjustment for net warehouse interest
related to loan fundings and payoff interest related to loan
prepayments), taxes, depreciation and amortization and net income
attributable to the non-controlling interest exclusive of any
change in the fair value measurements of the MSRs due to valuation
assumptions, contingent liabilities from business acquisitions and
stock-based compensation. We exclude these items because we believe
they are non-cash expenses that are not reflective of our core
operations or indicative of our ongoing operations.
Adjusted Return on Equity. We define Adjusted Return on
Equity as annualized Adjusted Net Income as a percentage of average
beginning and ending stockholders’ equity during the period.
We use these non-GAAP financial measures to evaluate our
operating performance, to establish budgets and to develop
operational goals for managing our business. These non-GAAP
financial measures are designed to evaluate operating results
exclusive of fair value adjustments that are not indicative of
management’s operating performance. Accordingly, we believe that
these financial measures provide useful information to investors
and others in understanding and evaluating our operating results,
enhancing the overall understanding of our past performance and
future prospects.
Our non-GAAP financial measures are not prepared in accordance
with GAAP and should not be considered in isolation of, or as an
alternative to, measures prepared in accordance with GAAP. There
are a number of limitations related to the use of these non-GAAP
financial measures rather than net income (loss), which is the most
directly comparable financial measure calculated and presented in
accordance with GAAP for Adjusted Net Income and Adjusted EBITDA,
and Return on Equity, which is the most directly comparable
financial measure calculated and presented in accordance with GAAP
for Adjusted Return on Equity. These limitations include that these
non-GAAP financial measures are not based on a comprehensive set of
accounting rules or principles and many of the adjustments to the
GAAP financial measures reflect the exclusion of items that are
recurring and may be reflected in our financial results for the
foreseeable future. In addition, other companies may use other
measures to evaluate their performance, all of which could reduce
the usefulness of our non-GAAP financial measures as tools for
comparison.
For more information on these non-GAAP financial measures,
please see the “GAAP to Non-GAAP Reconciliations” included at the
end of this release.
Condensed Consolidated Balance
Sheets (unaudited)
(in thousands, except share and per
share amounts)
March 31, 2023
December 31,
2022
Assets
Cash and cash equivalents
$
147,783
$
137,891
Restricted cash
6,237
8,863
Mortgage loans held for sale
858,314
845,775
Ginnie Mae loans subject to repurchase
right
591,993
650,179
Accounts, notes and interest
receivable
62,166
58,304
Derivative assets
12,206
3,120
Mortgage servicing rights, net
1,112,161
1,139,539
Intangible assets, net
31,088
33,075
Goodwill
182,150
176,769
Other assets
177,422
186,076
Total assets
$
3,181,520
$
3,239,591
Liabilities and stockholders’
equity
Warehouse lines of credit
$
762,062
$
713,151
Notes payable
130,000
126,250
Ginnie Mae loans subject to repurchase
right
592,234
650,179
Accounts payable and accrued expenses
36,579
34,095
Accrued compensation and benefits
25,913
29,597
Investor reserves
16,671
16,094
Contingent liabilities due to
acquisitions
2,218
526
Derivative liabilities
8,206
5,173
Operating lease liabilities
81,897
85,977
Note due to related party
—
530
Deferred compensation plan
92,697
95,769
Deferred tax liabilities
219,764
232,963
Total liabilities
1,968,241
1,990,304
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.01 par value;
50,000,000 shares authorized; no shares issued and outstanding
—
—
Class A common stock, $0.01 par value;
250,000,000 shares authorized; 20,533,160 and 20,583,130 shares
issued and outstanding at March 31, 2023 and December 31, 2022,
respectively
205
206
Class B common stock, $0.01 par value;
100,000,000 shares authorized; 40,333,019 shares issued and
outstanding at March 31, 2023 and December 31, 2022
403
403
Additional paid-in capital
43,915
42,727
Retained earnings
1,168,695
1,205,885
Non-controlling interest
61
66
Total stockholders' equity
1,213,279
1,249,287
Total liabilities and stockholders’
equity
$
3,181,520
$
3,239,591
Condensed Consolidated
Statements of Income (unaudited)
Three Months Ended
(in thousands, except per share
amounts)
Mar 31, 2023
Dec 31, 2022
Revenue
Loan origination fees and gain on sale of
loans, net
$
92,651
$
98,445
Loan servicing and other fees
60,087
57,984
Valuation adjustment of mortgage servicing
rights
(54,871
)
(29,888
)
Interest income
18,245
20,483
Interest expense
(12,262
)
(12,829
)
Other income, net
35
107
Net revenue
103,885
134,302
Expenses
Salaries, incentive compensation and
benefits
111,120
116,292
General and administrative
20,883
17,932
Occupancy, equipment and communication
17,430
17,120
Depreciation and amortization
3,738
3,909
Provision for foreclosure losses
1,514
2,274
Total expenses
154,685
157,527
Loss before income tax benefit
(50,800
)
(23,225
)
Income tax benefit
(13,605
)
(8,226
)
Net loss
(37,195
)
(14,999
)
Net (loss) income attributable to
non-controlling interest
(5
)
7
Net loss attributable to Guild
$
(37,190
)
$
(15,006
)
Net loss per share attributable to Class A
and Class B Common Stock:
Basic
$
(0.61
)
$
(0.25
)
Diluted
$
(0.61
)
$
(0.25
)
Weighted average shares outstanding of
Class A and Class B Common Stock:
Basic
60,900
60,914
Diluted
60,900
60,914
Key Performance Indicators
Management reviews several key performance indicators to
evaluate our business results, measure our performance and identify
trends to inform our business decisions. Summary data for these key
performance indicators is listed below.
Three Months Ended
($ and units in thousands)
Mar 31, 2023
Dec 31, 2022
Origination Data
$ Total in-house origination(1)
$
2,701,426
$
2,975,912
# Total in-house origination
9
9
$ Retail in-house origination
$
2,558,801
$
2,855,174
# Retail in-house origination
8
9
$ Retail brokered origination(2)
$
41,704
$
35,435
Total originations
$
2,743,130
$
3,011,347
Gain on sale margin (bps)(3)
343
331
Pull-through adjusted locked volume(4)
$
3,258,998
$
2,804,503
Gain on sale margin on pull-through
adjusted locked volume (bps)(5)
284
351
Purchase recapture rate(6)
24%
25%
Refinance recapture rate(7)
30%
20%
Purchase origination %
92%
93%
Servicing Data
UPB (period end)
$
79,916,577
$
78,892,987
_________________
(1)
Includes retail and correspondent loans
and excludes brokered loans.
(2)
Brokered loans are defined as loans we
originate in the retail channel that are processed by us but
underwritten and closed by another lender. These loans are
typically for products we choose not to offer in-house.
(3)
Represents loan origination fees and gain
on sale of loans, net divided by total in-house origination to
derive basis points.
(4)
Pull-through adjusted locked volume is
equal to total locked volume multiplied by pull-through rates of
84.0% and 93.4% as of March 31, 2023 and December 31, 2022,
respectively. We estimate the pull-through rate based on changes in
pricing and actual borrower behavior using a historical analysis of
loan closing data and “fallout” data with respect to the number of
commitments that have historically remained unexercised. The
decrease from the prior quarter is primarily due to reassessing our
assumptions within the valuation model and is not indicative of a
change in our operations.
(5)
Represents loan origination fees and gain
on sale of loans, net divided by pull-through adjusted locked
volume.
(6)
Purchase recapture rate is calculated as
the ratio of (i) UPB of our clients that originated a new mortgage
with us for the purchase of a home in a given period, to (ii) total
UPB of our clients that paid off their existing mortgage as a
result of selling their home in a given period.
(7)
Refinance recapture rate is calculated as
the ratio of (i) UPB of our clients that originated a new mortgage
loan for the purpose of refinancing an existing mortgage with us in
a given period, to (ii) total UPB of our clients that paid off
their existing mortgage as a result of refinancing their home in
the same period
GAAP to Non-GAAP Reconciliations
Reconciliation of Net Loss to
Adjusted Net Loss (unaudited)
Three Months Ended
(in millions, except per share
amounts)
Mar 31, 2023
Dec 31, 2022
Net loss
$
(37.2
)
$
(15.0
)
Net (loss) income attributable to
non-controlling interest(1)
—
—
Net loss attributable to Guild
$
(37.2
)
$
(15.0
)
Add adjustments:
Change in fair value of MSRs due to model
inputs and assumption
43.7
16.9
Change in fair value of contingent
liabilities due to acquisitions
—
—
Amortization of acquired intangible
assets
2.0
2.0
Stock-based compensation
1.8
2.4
Tax impact of adjustments(2)
(12.7
)
(6.4
)
Adjusted Net Loss
$
(2.5
)
$
(0.1
)
Weighted average shares outstanding of
Class A and Class B Common Stock
61
61
Loss per share
$
(0.61
)
$
(0.25
)
Adjusted loss per share
$
(0.04
)
$
—
_________________ Amounts may not foot due to rounding
(1)
Net (loss) income attributable to
non-controlling interest was $(5) thousand and $7 thousand for the
three months ended March 31, 2023 and December 31, 2022,
respectively.
(2)
Estimated effective tax rate used was
26.8% and 35.4% for the three months ended March 31, 2023 and
December 31, 2022, respectively.
Reconciliation of Net Loss to Adjusted EBITDA
(unaudited)
Three Months Ended
(in millions)
Mar 31, 2023
Dec 31, 2022
Net loss
$
(37.2
)
$
(15.0
)
Add adjustments:
Interest expense on non-funding debt
2.8
2.0
Income tax benefit
(13.6
)
(8.2
)
Depreciation and amortization
3.7
3.9
Change in fair value of MSRs due to model
inputs and assumptions
43.7
16.9
Change in fair value of contingent
liabilities due to acquisitions
—
—
Stock-based compensation
1.8
2.4
Adjusted EBITDA
$
1.1
$
1.9
Reconciliation of Return on
Equity to Adjusted Return on Equity
(unaudited)
Three Months Ended
($ in millions)
Mar 31, 2023
Dec 31, 2022
Income Statement Data:
Net loss attributable to Guild
$
(37.2
)
$
(15.0
)
Adjusted net loss
$
(2.5
)
$
(0.1
)
Average stockholders’ equity
$
1,231.3
$
1,257.4
Return on Equity
(12.1
)%
(4.8
)%
Adjusted Return on Equity
(0.8
)%
—
%
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230508005591/en/
Investors:
investors@guildmortgage.net 858-956-5130
Media: Melissa Rue Nuffer,
Smith, Tucker mkr@nstpr.com 619-296-0605 Ext. 247
Guild (NYSE:GHLD)
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부터 4월(4) 2024 으로 5월(5) 2024
Guild (NYSE:GHLD)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024