Q2 2024 Guild Holdings Co Earnings Call Transcript
Key Points
- Guild Holdings Co (GHLD) reported a significant increase in adjusted net income to $30.7 million in Q2 2024, up from $8 million in the previous quarter.
- Total loan originations reached $6.5 billion, marking a substantial 69% increase from the first quarter.
- The company outpaced the industry growth rate, which was estimated at 14%, demonstrating strong market share gains.
- Guild Holdings Co (GHLD) successfully integrated Academy Mortgage, adding over 1,000 personnel and contributing to increased origination volume.
- The introduction of GuildGPT, an internal AI platform, is expected to enhance operational efficiency and customer service.
- The gain on sale margin decreased from 364 basis points in Q1 to 326 basis points in Q2.
- The origination segment reported a net loss of $3 million, although this was an improvement from the prior quarter.
- The servicing segment's net income decreased to $70 million from $84 million in the first quarter.
- There is a slowdown in the M&A pipeline, although organic growth remains strong.
- Market headwinds persist, and it will take time for the market cycle to fully turn and realize anticipated accelerated growth.
Good afternoon, ladies and gentlemen, and welcome to the Guild Holdings Company second-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this call will be recorded. I would now like to turn the conference over to Investor Relations. Please go ahead.
Thank you, and good afternoon, everyone. Before we begin, I'd like to remind everyone that comments on this conference call may contain certain forward-looking statements regarding the company's expected operating and financial performance for future periods and industry trends. These statements are based on the Company's current expectations and preliminary results for any portion of the quarter may not be indicative of full quarter results and are subject to management and other customary review procedures. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements.
Due to a number of risks or other factors that are described in greater detail under the section titled Risk Factors in
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
