UWM shares rise 6% after Q3 revenue tops consensus estimate
UWM shares rose 6% to $1.69 after Q3 revenue of $811.1 million topped a $704.95 million consensus estimate. Adjusted EPS was 10 cents against an expected 5 cents.
Key takeaways
- UWM Holdings (UWMC) reported third-quarter 2026 revenue of $811.1 million and net income of $212.6 million, with adjusted earnings of 10 cents per share. Loan origination volume was $33.4 billion, according to the company's press release.
UWM Holdings (UWMC) topped third-quarter estimates for revenue and adjusted earnings, the company said in a press release on Nov. 4, and its shares rose 6.0% to $1.69 as of 3:59 p.m. ET, from a regular-session close of $1.59. Revenue was $811.1 million, against the $704.95 million consensus estimate, and adjusted earnings were 10 cents per share, against the 5 cents expected.
Loan origination volume was $33.4 billion in the quarter, down from $41.7 billion a year earlier. The company is the publicly traded indirect parent of United Wholesale Mortgage, which the company says has been the largest wholesale mortgage lender for eleven consecutive years.
Here's how the company did:
- Revenue: $811.1 million vs. $843.3 million a year earlier, $704.95 million expected
- Adjusted EPS: 10 cents vs. 1 cent a year earlier, 5 cents expected
- Net income: $212.6 million vs. $12.1 million a year earlier
- Adjusted EBITDA: $178.3 million vs. $211.1 million a year earlier
Origination mix
Refinance originations fell to $10.6 billion from $16.5 billion a year earlier. Purchase originations were $22.8 billion, down from $25.2 billion.
Total gain margin was 1.24%, compared with 1.30% a year earlier, the company said.
Quarter-to-quarter results
Net income has moved sharply from quarter to quarter, from a loss of $1.3 million in the third quarter of 2025 to a profit of $19.4 million in the fourth quarter of 2025, according to its SEC filings.
“Our third quarter results show the strength of UWM and our ability to perform in any market,” UWMC Chairman, Chief Executive Officer and President Mat Ishbia said. He also said investments in artificial intelligence and technology are helping lower expenses.
Salaries, commissions and benefits were $197.7 million, down from $222.8 million a year earlier.
Liquidity and balance sheet
Total equity was $1.3 billion at Sept. 30, and total redeemable preferred stock was $1.5 billion. The company said it ended the quarter with about $1.35 billion of available liquidity.
Product launches
The company said it released an enhanced ChatUWM platform, launched a ChatUWM mobile app for brokers, and launched a Mortgage Matchup plugin for ChatGPT.
The company said it will hold a conference call for analysts and investors on Nov. 4 at 11:00 a.m. ET.