UWM Holdings Corporation (UWMC) stock experienced a pre-market plunge of 5% on Wednesday, following the release of the company's fourth-quarter financial results that fell short of market expectations.
The mortgage lender reported Q4 sales of $560.2 million, missing the analyst consensus estimate of $625.08 million by approximately 10%. Additionally, UWM Holdings' adjusted net income for the quarter came in at $33.04 million, significantly lower than the estimated $101.1 million.
The disappointing financial performance, particularly the weaker-than-expected revenue and earnings figures, appears to have triggered a sell-off in UWM Holdings' shares during the pre-market trading session. The company's Q4 earnings per share (EPS) was reported at $0.02.
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