Earnings Call Summary | UWM Holdings(UWMC.US) Q4 2023 Earnings Conference
Earnings Call Summary | UWM Holdings(UWMC.US) Q4 2023 Earnings Conference
The following is a summary of the UWM Holdings Corporation (UWMC) Q4 2023 Earnings Call Transcript:
以下是UWM控股公司（UWMC）2023年第四季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
UWM reported total production over $108 billion for 2023 with $94 billion being from purchases. In Q4, $20.7 billion are reported from purchases and $24.4 billion in closed production.
The firm's gross margin stood at 92 basis points, generating pre-tax earnings of $39.2 million for Q4 and $253.7 million for the year, marking significant yoy increases.
UWM reported a significant write-down in Q4; however, this is expected to recover in the next quarter due to rising rates.
Adjusted EBITDA for 2023 was $478.3 million, up from $282.4 million in 2022, and Q4 EBITDA was $99.6 million, up from $60.4 million last year.
Despite a GAAP net loss for the year and Q4, capital and leverage ratios remain within expectancy. By year's end, liquidity was approximately $2.2 billion.
UWM報告稱，2023年的總產量超過1080億美元，其中940億美元來自採購。據報道，在第四季度，收購額爲207億美元，封閉式生產爲244億美元。
該公司的毛利率爲92個點子，第四季度的稅前收益爲3,920萬美元，該年度的稅前收益爲2.537億美元，同比大幅增長。
UWM報告稱，第四季度出現了大幅減記；但是，由於利率上升，預計減記將在下一季度恢復。
2023年調整後的息稅折舊攤銷前利潤爲4.783億美元，高於2022年的2.824億美元；第四季度息稅折舊攤銷前利潤爲9,960萬美元，高於去年的6,040萬美元。
儘管今年和第四季度出現了GAAP淨虧損，但資本和槓桿比率仍在預期之內。到年底，流動性約爲22億美元。
Business Progress:
業務進展：
UWM increased their workforce by 15% in 2023 and intends to continue paying a consistent $0.10 per share dividend.
The company experienced growth in its broker channel and has made investments to provide brokers competitive advantages regarding speed, price, and process.
UWM anticipates Q1 production for 2024 to be between $22 billion to $28 billion and expects margins to increase to 80 to 105 basis points.
The company is committed to growing the broker channel, focusing on shifting loan officers from retail to wholesale, and expects further growth.
UWM continued selling Mortgage Servicing Rights (MSRs) as part of its strategy to mitigate the impact of interest rate declines on the fair value of its MSR portfolio. They plan to keep the MSR book size between $250 billion to $350 billion.
UWM's financial strength and strategic focus on broker channel growth position it well for various market cycles.
UWM在2023年將其員工人數增加了15％，並打算繼續持續支付每股0.10美元的股息。
該公司的經紀人渠道經歷了增長，並進行了投資，爲經紀商提供了在速度、價格和流程方面的競爭優勢。
UWM預計，2024年第一季度的產量將在220億美元至280億美元之間，並預計利潤率將提高至80至105個點子。
該公司致力於擴大經紀人渠道，重點將貸款官員從零售轉向批發，並預計將進一步增長。
UWM繼續出售抵押貸款服務權（MSR），這是其減輕利率下降對其MSR投資組合公允價值的影響的戰略的一部分。他們計劃將MSR的賬面規模保持在2500億美元至3500億美元之間。
UWM的財務實力和對經紀商渠道增長的戰略重點使其在各種市場週期中處於有利地位。
More details: UWM Holdings IR
更多詳情： UWM Holdings 投資者關係
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。