Home Point Capital: Q3 Earnings Snapshot
ANN ARBOR, Mich. (AP) _ Home Point Capital Inc. (HMPT) on Thursday reported a third-quarter loss of $94.3 million, after reporting a profit in the same period a year earlier.
The Ann Arbor, Michigan-based company said it had a loss of 68 cents per share. Losses, adjusted for non-recurring costs, were 58 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The mortgage originator and servicer posted revenue of $8.3 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $73.8 million.