Quarterly ResultMay 6, 2026, 04:39 PM
Velocity Financial Q1 Net Income +18.4% to $22.4M; EPS $0.57
AI Summary
Velocity Financial, Inc. reported strong first quarter 2026 financial results, with net income increasing 18.4% to $22.4 million and diluted EPS rising to $0.57. Core net income also saw a significant increase of 30.8% to $26.5 million. The company's diluted book value per common share grew 19.4% to $17.75, driven by robust loan portfolio growth and strong portfolio earnings.
Key Highlights
- Net income increased 18.4% to $22.4 million for 1Q26, up from $18.9 million in 1Q25.
- Diluted EPS rose 11.8% to $0.57 for 1Q26, compared to $0.51 per share in 1Q25.
- Core net income grew 30.8% to $26.5 million, with core diluted EPS increasing to $0.68.
- Diluted book value per common share increased 19.4% to $17.75 as of March 31, 2026.
- Total loan portfolio expanded 25.4% to $6.8 billion UPB as of March 31, 2026.
- Portfolio net interest margin (NIM) improved by 21 bps to 3.56% from 3.35% in 1Q25.
- Nonperforming loans (NPL) as a percentage of HFI loans decreased to 10.1% from 10.8%.
- Loan production was $639.4 million, flat compared to $640.4 million in 1Q25.