loanDepot Announces Third Quarter 2024 Financial Results
loanDepot, Inc. Class A (LDI)
Company Research
Source: Business Wire
Company achieves profitability on higher volumes, margin growth and productivityCompletes Vision 2025 and launches new strategic plan - Project North StarHighlights:Revenue of $315 million, up 18% compared to the prior year. Adjusted revenue of $329 million, up 26% compared to the prior year.Company announces Ridgeland Mortgage joint venture with Smith Douglas Homes, expanding loanDepot’s network of partnerships with top homebuilders.Pull-through weighted gain on sale margin of 329 basis points, the highest margin since the beginning of the market downturn.Net income of $3 million and adjusted net income of $7 million, compared with prior year net loss and adjusted net loss of $34 million and $29 million, respectively, reflect the positive impact of higher revenue and cost productivity.Adjusted EBITDA of $64 million compared with $15 million in the prior year.Strong liquidity profile with cash balance of $483 million. IRVINE, Calif.--(BUSINESS WIRE)--loanDepot, Inc. (NYSE: LDI), (t
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News
- loanDepot Recognized as One of 2024’s “Best Military Lenders” by National Mortgage ProfessionalBusiness Wire
- loanDepot, Inc. (NYSE: LDI) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $1.70 to $2.70. They now have a "sell" rating on the stock.MarketBeat
- loanDepot Inc (LDI) Q3 2024 Earnings Call Highlights: A Return to Profitability Amid Market ... [Yahoo! Finance]Yahoo! Finance
- loanDepot and Smith Douglas Homes Announce New Joint Venture called Ridgeland MortgageBusiness Wire
- loanDepot CISO Mike Brown Honored with HousingWire’s 2024 Tech Trendsetters AwardBusiness Wire
LDI
Earnings
- 11/5/24 - Beat
LDI
Sec Filings
- 11/20/24 - Form 4
- 11/19/24 - Form 8-K
- 11/18/24 - Form 4
- LDI's page on the SEC website