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Velocity Financial, Inc. Reports Fourth Quarter and Full Year 2024 Results

1. Velocity Financial reports net income increase to $68.4 million for 2024. 2. Earnings per share rise to $1.91, signaling strong financial performance.

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$18.8903/06 04:14 PM EDTEvent Start
$20.4803/07 10:35 PM EDTLatest Updated
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FAQ

Why Bullish?

The significant rise in net income and earnings per share indicates robust company performance. Historically, companies that report strong earnings tend to see price appreciation, as seen with similar growth stories in the finance sector.

How important is it?

The notable increase in net income and EPS is likely to attract investor interest and could lead to stock price growth. Positive earnings reports historically correlate with increased investment and share price appreciation.

Why Short Term?

The immediate financial results can influence investor sentiment quickly, leading to potential stock price increases. Previous quarterly reports often led to stock price changes within weeks of announcements.

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CACCLENDCFFN
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL) (Velocity or the Company), a leader in business purpose loans, reported net income of $68.4 million and core net income of $72.9 million for the full year 2024, compared to net income of $52.3 million and core net income of $53.4 million for the full year 2023. Earnings and core earnings per diluted share were $1.91 and $2.03, respectively, for the full year 2024, compared to $1.52 and $1.54 for the full year 2023.

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