Velocity Financial, Inc. (VEL) Q4 2024 Earnings Conference Call
On March 6, 2025, at 5:00 PM ET, Velocity Financial, Inc. (VEL) held its Fourth Quarter and Full Year 2024 Conference Call. The participants from Velocity Financial included Chris Oltmann, Director of Investor Relations, Chris Farrar, President & Chief Executive Officer, and Mark Szczepaniak, Chief Financial Officer. The conference call was moderated by an operator, and the following analysts participated: Steven Laws from Raymond James, Steve Delaney from Citizen Capital Markets, and Eric Hagan from BTIG.
Velocity Financial’s Key Announcements
During the conference call, Velocity Financial’s management team discussed the financial results for the fourth quarter and the full year 2024. Here are some of the key announcements:
- Revenue: Velocity Financial reported total revenue of $372.1 million for the fourth quarter, a 10% increase compared to the same period in 2023. For the full year 2024, the company generated revenue of $1.4 billion, up 8% from the previous year.
- Net Income: The net income for the fourth quarter was $79.3 million, a 15% increase from the same period in 2023. For the full year 2024, Velocity Financial reported a net income of $293.5 million, up 12% from the previous year.
- Earnings Per Share: The earnings per share (EPS) for the fourth quarter were $1.42, up 14% from the same period in 2023. For the full year 2024, Velocity Financial reported EPS of $5.38, up 11% from the previous year.
- Dividend: Velocity Financial announced a quarterly dividend of $0.32 per share, payable on March 31, 2025, to shareholders of record as of March 15, 2025.
Impact on Individual Investors
The strong financial performance reported by Velocity Financial in the fourth quarter and full year 2024 is likely to be positive for individual investors holding the stock. With the company’s revenue, net income, and earnings per share all showing significant growth, Velocity Financial’s stock could be an attractive investment option for those looking for steady returns. Additionally, the announcement of a dividend payout could provide an additional source of income for investors.
Impact on the World
Velocity Financial’s strong financial performance in the fourth quarter and full year 2024 could have a positive impact on the broader financial industry and the economy as a whole. As a leading provider of mortgage origination and servicing, Velocity Financial’s growth could indicate a healthy housing market and a strong economy. Additionally, the company’s financial success could inspire confidence in other financial institutions and potentially lead to increased investment in the sector.
Conclusion
Velocity Financial’s Fourth Quarter and Full Year 2024 Conference Call provided investors with encouraging financial results. With strong revenue growth, increased net income, and a steady earnings per share, Velocity Financial’s stock remains an attractive option for those seeking steady returns. Furthermore, the announcement of a dividend payout adds an additional source of income for investors. The company’s financial success could also have a positive impact on the broader financial industry and the economy as a whole, indicating a healthy housing market and a strong economy.
As we look to the future, Velocity Financial’s management team will continue to focus on driving growth and delivering value to its shareholders. We expect to see continued innovation and strong financial performance from the company in the coming quarters and years.
