Loandepot Inc Cl A (LDI) said after close Tuesday that it lost $0.08 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $228.6 million, missing estimates by $8.1 million.
In the same quarter a year ago, the company lost $0.35 per share on revenue of $169.7 million.
The stock is down 16.14% to $2.13 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
Wall Street Analysts had an average rating of Hold on the stock prior to the report.
Trading in the five days leading up to the report earned Loandepot Inc Cl A a Bearish Sentiment Rank from InvestorsObserver.
Loandepot Inc Cl A has performed a little above average during the past few months. Before the report, Loandepot Inc Cl A received a Long-Term Technical Rank by InvestorsObserver of 59, putting it in the top half of stocks. The firm was recently trading at a 52-week high of $3.71 on December 28, 2023 and set a 52-week low on October 30, 2023 at $1.14.
loanDepot Inc provides nonbank consumer lending solutions for individuals in the United States. It offers personal, residential home, home refinancing, mortgage and home equity loans. It also provides online mortgage loans for refinancing and home purchases. It serves customers through distribution channels, including consumer direct centres, retail branches, wholesale centres, and consumer finance and servicing centres in the United States. It competes with commercial banks and financial institutions. The Company is subject to governmental laws and regulations.
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Loandepot Inc Cl A Down 16.14% To $2.13 After Earnings Miss
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