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

1. Velocity Financial reported increased earnings for 2024, showing substantial growth. 2. Net income rose to $68.4 million, up from $52.3 million in 2023.

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Why Bullish?

The reported growth in net income signals strong financial performance, similar to previous surges seen by growth companies during favorable market conditions.

How important is it?

The solid earnings report heightens investor confidence, affecting stock valuation positively in the near term.

Why Short Term?

The immediate uplift in earnings likely influences short-term investor sentiment and stock price reactions.

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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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