LoanDepot Q2 Loss Misses Estimates, Guides Q3 Originations Up to $8.25B
LDI is trading near its 52-week low of $0.927 (10% above the low).
Summary
LoanDepot's Q2 adjusted net loss of $29.23M missed the consensus estimate of a $1.05M profit, though it narrowed from Q1's $37.5M loss. Revenue grew 18% sequentially to $337.32M, driven by home equity lending expansion, but adjusted revenue of $307.55M fell short of the $333.59M consensus. The company guided Q3 origination volume to $6.25B-$8.25B with gain-on-sale margins of 360-390 bps, signaling continued momentum in higher-margin products. This follows the Q1 loss and the $100M ATM equity program launched in May, adding to concerns about capital needs. The stock trades at $1.02 with a market cap of ~$355M, leaving little room for execution missteps.
At the time of this announcement, LDI was trading at $1.02 on NYSE in the Finance sector, with a market capitalization of approximately $354.7M. The 52-week trading range was $0.93 to $5.05. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.