Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.98%.
Home Loan Servicing Solutions Ltd Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 41.94% to $0.44 in the quarter versus EPS of $0.31 in the year-earlier quarter.
Revenue: Rose 3081.73% to $102.77 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.44 per share. By that measure, the company beat the mean analyst estimate of $0.43. It beat the average revenue estimate of $102.36 million.
Quoting Management: “Despite continued low mortgage interest rates and modest improvement in the housing market, the trend toward lower prepayment speeds for HLSS’ portfolio, which started in the middle of last year, has continued in the first quarter of this year,” said Chairman William Erbey. “Our outlook on prepayment speeds for this portfolio has become increasingly positive fueled in part by Ocwen’s continued success in resolving delinquent loans. This was certainly a factor in the Board’s decision to increase our dividend to $0.14 per share for the second quarter of 2013.”
Key Stats (on next page)…