PennyMac Mortgage Investment Trust — Third Quarter 2026 Earnings Summary

PennyMac Mortgage Investment Trust reported a net loss of $36 million, or $0.41 per share, for the third quarter of 2026, driven by widening mortgage spreads and rising interest rates that reduced the fair value of its portfolio. Adjusted net income attributable to common shareholders was $30 million, resulting in adjusted earnings per share of $0.35 and an annualized adjusted return on equity of 9%. The company announced a $130 million increase to its share repurchase authorization and leadership changes, including the retirement of President Doug Jones and the appointment of Kevin Ryan as Chief Financial Officer effective January 1, 2027. Additionally, PMT sold $13 billion in Agency mortgage servicing rights and plans to sell an additional $10 billion, while rotating capital into higher-returning private-label securitization investments.