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Last $16.32 USD
Change Today -0.12 / -0.73%
Volume 109.6K
WAC On Other Exchanges
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As of 8:04 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

walter investment management (WAC) Key Developments

Walter Investment Management Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Goodwill Impairments for the Second Quarter of 2015

Walter Investment Management reported consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's revenue was slightly lower at $412.4 million compared to $413.7 million a year ago. On a reported basis, the company's net loss widened to $38.1 million or $1.01 per diluted share from $12.9 million or $0.34 a year ago. Loss before income taxes was $15 million against $51.93 million a year ago. Net loss was $38.12 million or $1.01 diluted loss per share against $12.93 million or $0.34 diluted loss per share a year ago. Adjusted EBITDA was $140.4 million against $199.4 million a year ago. Adjusted earnings before income taxes were $39.3 million against $114.9 million a year ago. Adjusted earnings after tax were $24.4 million or $0.65 income per share against $70.1 million or $1.86 income per share a year ago. Capital expenditure was $6.1 million against $8.5 million a year ago. Cash flows used in operating activities was $389.8 million against $481.4 million a year ago. For the six months, the company reported total revenue of $723.29 million against $783.66 million a year ago. Loss before income taxes was $64.68 million against $22.96 million a year ago. Net loss was $69.13 million or $1.83 diluted loss per share against net income of $4.45 million or $0.12 diluted income per share a year ago. Adjusted EBITDA was $303.0 million against $367.2 million a year ago. Adjusted earnings before income taxes were $101.1 million against $210.0 million a year ago. Adjusted earnings after tax were $62.7 million or $1.66 income per share against $128.1 million or $3.36 income per share a year ago. Capital expenditure was $9.8 million against $13.0 million a year ago. Cash flows used in operating activities was $268.8 million against $73.9 million a year ago. For the second quarter of 2015, the company reported goodwill impairment of $56.54 million against $82.27 million a year ago.

Walter Investment Management Corp. to Report Q2, 2015 Results on Aug 10, 2015

Walter Investment Management Corp. announced that they will report Q2, 2015 results at 9:00 AM, Eastern Standard Time on Aug 10, 2015

Walter Investment Management Corp., Q2 2015 Earnings Call, Aug 10, 2015

Walter Investment Management Corp., Q2 2015 Earnings Call, Aug 10, 2015

Walter Investment Management Corp. Presents at Morgan Stanley Financials Conference 2015, Jun-09-2015 11:30 AM

Walter Investment Management Corp. Presents at Morgan Stanley Financials Conference 2015, Jun-09-2015 11:30 AM. Venue: The Waldorf-Astoria Hotel, 301 Park Avenue at 50th Street, New York City, New York, United States.

Walter Investment Management Corp. Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Walter Investment Management Corp. reported consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $310.857 million against $369.948 million a year ago. Loss before income taxes was $49.678 million against income before income taxes of $28.965 million a year ago. Net loss was $31.008 million or $0.82 per basic and diluted share against net income of $17.377 million or $0.45 per basic and diluted share a year ago. Adjusted EBITDA was $162.696 million against $167.801 million a year ago. Adjusted earnings before taxes were $61.792 million against $95.054 million a year ago. Adjusted earnings after tax were $38.3 million or $1.02 per share against $58.0 million or $1.53 per share a year ago. Total revenue for the first quarter of 2015 was a decrease of $59.1 million as compared to the first quarter of 2014, primarily related to an $81.9 million decline in net servicing fees and revenues comprised of an $81.6 million greater fair value charge for mortgage servicing rights. Total revenue also reflects a $9.3 million decline in insurance revenue due to the loss of commissions earned on GSE lender-placed policies beginning June 1, 2014, offset by a $21.2 million increase in net gains on sales of loans reflecting higher locked volumes due to strong execution gains in a low interest rate environment in the current quarter and a $13.5 million increase in net fair value gains on reverse loans. The 2015 quarter benefited from the impact of the sale of the company equity investment in a third-party reverse mortgage business of $14.4 million pretax, or $0.24 per share after tax. The GAAP net loss reflecting the impact of $44.5 million, or $1.18 per share of after-tax charges resulting from changes in valuation inputs and other assumptions used in the fair value of the assets and liabilities carried at fair value.

 

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