Filing Flows › UWM Holdings (UWMC) › Q1 2026
UWM Holdings (UWMC) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
UWM Holdings (UWMC) reported revenue of $901M for the first quarter 2026 (Q1 2026), +47% from a year earlier and -5% from the quarter before. Operating margin was 19.7%, net earnings $25.3M (2.8% of revenue).
UWM Holdings, Q1 2026: revenue $901M (+47% year over year), operating margin 19.7%, net earnings $25.3M, operating cash flow −$2.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $901M | -5% | +47% |
| Operating profit | $178M | +5% | — |
| Net earnings | $25.3M | +30% | — |
| Operating cash flow | −$2.2B | -2249% | -475% |
What changed
Revenue was $901.4M in Q1 2026, up 47% year over year and down 5% from the previous quarter.
Operating profit was $177.5M, a 19.7% margin (up 62.2 points year over year). Total costs fell 17% while revenue rose 47%. Net earnings were $25.3M. The effective tax rate was 4.0%.
Operating cash flow was −$2,229.9M. Non-cash charges added back $15.6M of depreciation and amortization and $13.2M of share-based compensation. Working capital and other items used $2,429.0M. Capital expenditures of $19.1M exceeded it, leaving free cash flow of −$2,248.9M.
Questions
What was UWM Holdings' revenue in the first quarter 2026?
UWM Holdings (UWMC) reported revenue of $901M for the first quarter 2026 (Q1 2026), +47% from a year earlier and -5% from the quarter before.
Was UWM Holdings profitable in the first quarter 2026?
Operating profit was $178M (19.7% of revenue) and net earnings $25.3M.
Source: UWM Holdings 10-Q on SEC EDGAR.