PFSI

EX-99.1

2 tm2613557d1_ex99-1.htm

EXHIBIT 99.1

Exhibit 99.1

PennyMac Financial Services, Inc. Reports

First Quarter 2026 Results

WESTLAKE VILLAGE, Calif. – May 5, 2026 – PennyMac Financial Services, Inc. (NYSE: PFSI) today reported net income of $82.3 million for the first quarter of 2026, or $1.53 per share on a diluted basis, on total net revenues of $545.0 million. Adjusted net income was $117.7 million and adjusted earnings per share (EPS) was $2.19.1 Book value per share increased to $83.31 from $82.77 at December 31, 2025.

PFSI’s Board of Directors declared a first quarter cash dividend of $0.30 per share, payable on May 28, 2026, to common stockholders of record as of May 18, 2026.

First Quarter 2026 Highlights

·Pretax income was $104.7 million, down from $134.4 million in the prior quarter and up slightly from $104.2 million in the first quarter of 2025

·Production segment pretax income was $133.6 million, up from $127.3 million in the prior quarter and $61.9 million in the first quarter of 2025

oTotal loan acquisitions and originations, including those fulfilled for PennyMac Mortgage Investment Trust (NYSE: PMT), were $37.0 billion in unpaid principal balance (UPB), down 12% from the prior quarter and up 28% from the first quarter of 2025

–Production revenue margins, including fulfillment fees from PMT, were 86 basis points, up from 73 basis points in the prior quarter and 68 basis points in the first quarter of 2025

–Total correspondent acquisitions were $24.4 billion in UPB, down 20% from the prior quarter and up 6% from the first quarter of 2025

–Broker direct originations were $6.7 billion in UPB, up 3% from the prior quarter and 102% from the first quarter of 2025

–Consumer direct originations were $6.0 billion in UPB, up 15% from the prior quarter and 130% from the first quarter of 2025

1 See page 14 for a reconciliation of GAAP net income to adjusted net income and adjusted EPS

1

oTotal locks, including those for PMT, were $44.8 billion in UPB, down 4% from the prior quarter and up 31% from the first quarter of 2025

·Servicing segment pretax income was $12.7 million, down from $37.3 million in the prior quarter and $76.0 million in the first quarter of 2025

o   Pretax income excluding valuation-related items was $56.7 million, up 25% from the prior quarter

oValuation-related items included:

–$183.0 million in mortgage servicing rights (MSR) fair value gains more than offset by $221.1 million in hedging losses, including $13.8 million in principal-only stripped mortgage-backed security (MBS) valuation-related accretion changes, and $6.0 million in provisions for losses on active loans

·Net impact on pretax income related to these items was $(44.1) million or $(0.61) in diluted earnings per share

oServicing portfolio at the end of the quarter was $720.3 billion in UPB, down 2% from December 31, 2025 due to runoff and the transfer of $24 billion in UPB of MSR that was sold in the prior quarter which more than offset growth from production volumes

·Pretax loss from Corporate and Other was $41.5 million, compared to $30.2 million in the prior quarter and $33.7 million in the first quarter of 2025

·Repurchased approximately 560,000 shares of PFSI’s common stock at an average price of $89.28 per share for a cost of $50.0 million

“In the first quarter, PennyMac Financial generated an 8% annualized return on equity and an 11% annualized adjusted return on equity2,” said Chairman and CEO David Spector. “Our performance reflects our ongoing emphasis on maximizing returns on invested capital. The combination of strong operational execution in our consumer and broker direct lending channels along with improving operating efficiency drove production segment pretax income to its highest level in nearly five years. The growth in our direct channels was paired with our consistent strategic deployment of capital through the correspondent channel.”

Mr. Spector continued, “We are focused on driving growth where the marginal returns are most accretive to our current operating returns and where we can further lean into the operational scale we have achieved. We expect the acquisition of Cenlar to leverage the significant scale advantage of our tech-first platform and enhance our profitability over time. Despite expectations for a smaller origination market as interest rates move higher again, we remain confident in our ability to generate meaningful adjusted returns on equity as we move through 2026.”

2 See page 14 for a reconciliation of GAAP net income to annualized adjusted return on equity

2

The following table presents the contributions of PFSI’s segments to pretax income:

Quarter ended March 31, 2026

Production Servicing Reportable

segment total Corporate

and other Total

(in thousands)

Revenue:

Net gains on loans held for sale at fair value $311,201 $33,784 $344,985 $- $344,985

Loan origination fees 72,446 - 72,446 - 72,446

Fulfillment fees from PMT 5,737 - 5,737 - 5,737

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2026-01-29 2026-01-29

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UNITED STATES

SECURITIES AND

EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 29, 2026

PennyMac Financial Services, Inc.

(Exact name of registrant as specified in its charter)

Delaware 001-38727 83-1098934

(State or other jurisdiction

of incorporation) (Commission

File Number) (IRS Employer

Identification No.)

3043 Townsgate Road, Westlake Village, California 91361

(Address of principal executive offices) (Zip Code)

(818) 224-7442

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.0001 par value

PFSI

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02    Results of Operations and Financial Condition.

On January 29, 2026, PennyMac Financial Services, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter and year ended December 31, 2025. A copy of the press release and the slide presentation used in connection with the Company’s presentation of financial results were made available on January 29, 2026 and are furnished as Exhibits 99.1 and Exhibit 99.2, respectively.  In addition, the Company has made available other supplemental financial information for the fiscal quarter and year ended December 31, 2025 on its website at pfsi.pennymac.com.

The information in Item 2.02 of this report, including the exhibits hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of Section 18, nor shall it be deemed incorporated by reference into any disclosure document relating to the Company, except to the extent, if any, expressly set forth by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits.

(d)  Exhibits.

Exhibit No. Description

99.1 Press Release, dated January 29, 2026, issued by PennyMac Financial Services, Inc. pertaining to its financial results for the fiscal quarter and year ended December 31, 2025.

99.2 Earnings Report for use beginning on January 29, 2026 in connection with a presentation of financial results for the fiscal quarter and year ended December 31, 2025.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PENNYMAC FINANCIAL SERVICES, INC.

Dated:  January 29, 2026 /s/ Daniel S. Perotti

Daniel S. Perotti

Senior Managing Director and Chief Financial Officer

false 0001745916

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2025-10-21 2025-10-21

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UNITED STATES

SECURITIES AND

EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 21, 2025

PennyMac Financial Services, Inc.

(Exact name of registrant as specified in its charter)

Delaware 001-38727 83-1098934

(State or other jurisdiction

of incorporation) (Commission

File Number) (IRS Employer

Identification No.)

3043 Townsgate Road, Westlake Village, California 91361

(Address of principal executive offices) (Zip Code)

(818) 224-7442

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.0001 par value

PFSI

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02    Results of Operations and Financial Condition.

On October 21, 2025, PennyMac Financial Services, Inc. (the “Company”) issued a press release and a slide presentation announcing its financial results for the fiscal quarter ended September 30, 2025. A copy of the press release and the slide presentation used in connection with the Company’s presentation of financial results were made available on October 21, 2025 and are furnished as Exhibit 99.1 and Exhibit 99.2, respectively. In addition, the Company has made available other supplemental financial information for the fiscal quarter ended September 30, 2025 on its website at pfsi.pennymac.com.

The information in Item 2.02 of this report, including the exhibits hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of Section 18, nor shall it be deemed incorporated by reference into any disclosure document relating to the Company, except to the extent, if any, expressly set forth by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits.

(d)  Exhibits.

Exhibit No. Description

99.1 Press Release, dated October 21, 2025, issued by PennyMac Financial Services, Inc. pertaining to its financial results for the fiscal quarter ended September 30, 2025.

99.2 Slide Presentation for use beginning on October 21, 2025 in connection with a presentation of financial results for the fiscal quarter ended September 30, 2025.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PENNYMAC FINANCIAL SERVICES, INC.

Dated: October 21, 2025 /s/ Daniel S. Perotti

Daniel S. Perotti

Senior Managing Director and Chief Financial Officer