Velocity Financial Q3 2024 Earnings Report

Velocity Financial EPS Results

• Actual EPS: $0.47
• Consensus EPS: $0.47
• Beat/Miss: Met Expectations
• One Year Ago EPS: $0.37

Velocity Financial Revenue Results

• Actual Revenue: $35.06 million
• Expected Revenue: $36.10 million
• Beat/Miss: Missed by -$1.04 million
• YoY Revenue Growth: N/A

Velocity Financial Announcement Details

• Quarter: Q3 2024
• Date: 11/7/2024
• Time: After Market Closes

Velocity Financial (NYSE:VEL) operates as a real estate finance company in the United States. It originates, securitizes, and manages a portfolio of loans, which are secured by first mortgage liens on income-producing and/or owner/user commercial properties, including investor 1-4, a non-owner occupied residential rental properties with 1-4 units; residential apartments combined with office or retail space; and multi-family comprising traditional apartment buildings, condominiums, and other residential properties with 5+ units. The company also finances for retail properties with various types of retail products and merchandise or services; commercial properties occupied by professional or business offices; and warehouse and other properties, which include self-storage units, auto services, hospitality, light industrial, and other commercial enterprises, as well as provides short-term and interest-only loans for acquisition and improvement of 1-4-unit residential properties. It offers its products through a network of independent mortgage brokers for independent real estate investors and small business owners. The company was founded in 2004 and is headquartered in Westlake Village, California.