UWM Holdings Corp reports results for the quarter ended June 30 - Earnings Summary

• UWM Holdings Corp UWMC.N reported quarterly adjusted earnings of 16 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 4 cents. The mean expectation of eight analysts for the quarter was for earnings of 6 cents per share. Wall Street expected results to range from 4 cents to 11 cents per share.

• Revenue rose 49.6% to $758.70 million from a year ago; analysts expected $697.05 million.

• UWM Holdings Corp's reported EPS for the quarter was 11 cents​.

• The company reported quarterly net income of $22.91 million.

• UWM Holdings Corp shares had risen by 1.9% this quarter and lost 28.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 6.7% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy," 6 "hold" and no "sell" or "strong sell." The average consensus recommendation for the consumer lending peer group is "buy."

• Wall Street's median 12-month price target for UWM Holdings Corp is $5.25, about 19.6% above its last closing price of $4.22

This summary was machine generated from LSEG data August 7 at 05:43 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)