Recap: Ocwen Financial Q1 Earnings

Shares of Ocwen Financial OCN rose 5% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 42.42% over the past year to ($0.19), which beat the estimate of ($0.40).

Revenue of $253,842,000 lower by 16.47% year over year, which missed the estimate of $276,000,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Ocwen Finl hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: May 08, 2020

Webcast URL: https://business.phhmortgage.com/services/investor-services

Technicals

52-week high: $2.23

52-week low: $0.28

Price action over last quarter: down 70.59%

Company Overview

Ocwen Financial Corp is a financial service company that services and originates loans. Its business segment includes Servicing and Lending. Servicing segment provides residential and commercial mortgage loan servicing, special servicing and asset management services. Lending segment originates and purchases conventional and government-insured residential forward and reverse mortgage loans mainly through correspondent lending arrangements, broker relationships and directly with mortgage customers. The company generates a majority of its revenue from the Servicing segment. Geographically, it generates a majority of its revenue from the United States.