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Guild Holdings Company Class A (GHLD+4.06%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net income of $97.1 million for 2024, compared to a net loss of $39.0 million in 2023. The improvement was attributed to increased loan originations and higher servicing income.
Guild originated $24.0 billion in mortgage loans in 2024, up from $15.3 billion in 2023, with purchase originations accounting for 88.1% of total originations.
The company's servicing portfolio grew to $93.0 billion in unpaid principal balance as of December 31, 2024, up from $85.0 billion at the end of 2023.
Guild's adjusted net income for 2024 was $90.2 million, with adjusted EBITDA reaching $134.8 million, reflecting strong operational performance.
The company reported a gain on reverse mortgage loans held for investment and HMBS-related borrowings of $11.0 million for 2024, driven by increased origination and securitization activities.
Guild's cash provided by operating activities was $809.7 million, with cash used in investing activities totaling $152.4 million, primarily due to acquisitions and investments in technology.
Guild's board approved a share repurchase program, with $10.0 million remaining available for repurchase as of December 31, 2024.
The company identified a material weakness in its internal controls over financial reporting, which it is addressing to ensure accurate financial reporting in the future.
Guild continues to focus on expanding its market share through acquisitions, having completed several strategic acquisitions in 2024 to enhance its geographic footprint and service offerings.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Guild Holdings Company Class A annual 10-K report dated March 7, 2025. To report an error, please email earnings@qz.com.