Quarterly ResultAug 5, 2026, 04:04 PM
Velocity Financial Q2 Net Income $25.2M, EPS $0.64
AI Summary
Velocity Financial, Inc. reported mixed financial results for the second quarter of 2026. While pretax income and core net income saw increases, net income and diluted EPS declined primarily due to a higher effective tax rate. The company demonstrated strong portfolio growth, with total loans reaching $7.0 billion, and an improvement in nonperforming loan ratios, alongside a decrease in loan production compared to the prior year.
Key Highlights
- Net income was $25.2 million, a 3.2% decrease from $26.0 million in 2Q25.
- Diluted EPS was $0.64, down from $0.69 per share in 2Q25.
- Pretax income increased 3.9% to $35.2 million from $33.9 million in 2Q25.
- Core net income rose 1.4% to $27.9 million from $27.5 million in 2Q25.
- Diluted book value per common share increased to $18.43, up $2.81 from $15.62.
- Total loan portfolio grew 19.2% to $7.0 billion from $5.9 billion as of June 30, 2025.
- Nonperforming loans (NPL) as a percentage of HFI loans decreased to 9.6% from 10.3%.
- Loan production decreased to $672.6 million from $725.4 million in 2Q25.
Price Impact
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