FINWIRES · TerminalLIVE
FINWIRES

UWM Holdings Shares Fall Pre-Bell Amid Swing to Q2 Adjusted Loss

By

UWM Holdings (UWMC) shares fell more than 18% in recent premarket activity Thursday after the company swung to an adjusted loss in Q2.

The company reported late Wednesday an adjusted Q2 loss of $0.23 per diluted share, swinging from an adjusted EPS of $0.16 a year earlier.

Analysts polled by FactSet expected adjusted EPS of $0.07.

Revenue for the quarter ended June 30 was $888 million, up from $758.7 million a year ago. Analysts expected $727.5 million.

Separately, UWM Holdings secured a $2.05 billion investment under a strategic capital partnership with SFS Group Capital and Oaktree Capital Management, according to a Wednesday statement.

Preferred equity and warrants were issued for the initial investment, UWM said.

The company also plans to launch a $400 million rights offering to class A shareholders, backed by the two new investors, if needed, according to the statement.

In addition, UWM said it will suspend common dividends to prioritize debt reduction and boost its balance sheet.

Price: $1.50, Change: $-0.34, Percent Change: -18.48%

Related Articles

Wire

Cirrus Logic Fiscal Q1 Adjusted Earnings, Revenue Rise

Cirrus Logic (CRUS) reported fiscal Q1 adjusted earnings late Wednesday of $1.84 per diluted share, up from $1.51 a year earlier.Analysts polled by FactSet expected $1.81.Revenue in the three months ended June 27 rose to $459.7 million from $407.3 million a year ago.Four analysts expected $460.3 million.The company expects fiscal Q2 revenue of $510 million to $570 million. Analysts project $570.1 million.Cirrus Logic shares fell 3.4% in after-hours trading.

$CRUS
Wire

Tenaris Q2 Earnings, Revenue Fall

Tenaris (TS) reported Q2 earnings late Wednesday of $0.95 per American depository share, down from $0.99 a year earlier.Four analysts polled by FactSet expected $0.83.Revenue in the three months ended June 30 fell to $2.97 billion from $3.09 billion a year earlier.Analysts expected $2.93 billion.Tenaris shares fell 5.5% in after-hours trading.

$TS
Wire

Block Q2 Adjusted Earnings, Revenue Rise

Block (XYZ) reported Q2 adjusted earnings late Wednesday of $1.02 per diluted share, up from $0.62 a year earlier.Analysts polled by FactSet expected $0.87.Revenue in the three months ended June 30 rose to $6.62 billion from $6.05 billion a year earlier.Analysts projected $6.47 billion.Block expects Q3 adjusted diluted EPS of $1.02. Analysts project $1.01.The company increased full-year adjusted EPS guidance to $4.02 from the prior outlook of $3.85. Analysts project $3.90.Block shares fell 1.7% in after-hours trading.

$XYZ