Filing Flows › PennyMac Financial Services (PFSI) › Q2 2026
PennyMac Financial Services (PFSI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
PennyMac Financial Services (PFSI) reported revenue of $497M for the second quarter 2026 (Q2 2026), +12% from a year earlier and -9% from the quarter before. Operating margin was 6.3%, net earnings $21.7M (4.4% of revenue).
PennyMac Financial Services, Q2 2026: revenue $497M (+12% year over year), operating margin 6.3%, net earnings $21.7M, operating cash flow $2.1B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $497M | -9% | +12% |
| Operating profit | $31.5M | -70% | -59% |
| Net earnings | $21.7M | -74% | -84% |
| Operating cash flow | $2.1B | — | — |
| Free cash flow | $2.1B | — | — |
What changed
Revenue was $497.0M in Q2 2026, up 12% year over year and down 9% from the previous quarter.
Operating profit was $31.5M, a 6.3% margin (down 10.8 points year over year). Operating profit fell $44.9M even though revenue rose $52.2M versus Q2 2025, so costs grew faster than sales. Total costs grew 26% against revenue growth of 12%. Net earnings were $21.7M, down 84% year over year. The effective tax rate was 31.1%.
Operating cash flow was $2,143.1M, 9864% of net earnings. Non-cash charges added back $14.4M of depreciation and amortization and $4.5M of share-based compensation. Working capital and other items added $2,102.5M. Capital expenditures of $3.4M left free cash flow of $2,139.7M.
Questions
What was PennyMac Financial Services' revenue in the second quarter 2026?
PennyMac Financial Services (PFSI) reported revenue of $497M for the second quarter 2026 (Q2 2026), +12% from a year earlier and -9% from the quarter before.
Was PennyMac Financial Services profitable in the second quarter 2026?
Operating profit was $31.5M (6.3% of revenue) and net earnings $21.7M.