Guild Holdings Company (NYSE:GHLD) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET
Company Participants
Terry Schmidt - Chief Executive Officer
David Neylan - President & Chief Operating Officer
Amber Kramer - Chief Financial Officer
Conference Call Participants
Derek Sommers - Jefferies
Melissa Wedel - JPMorgan
Giuliano Bologna - Compass Point
Brian Violino - Wedbush Securities
Operator
Good afternoon, ladies and gentlemen, and welcome to the Guild Holdings Company Second Quarter 2023 Earnings Conference Call. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, this call is being recorded.
I would now like to turn the conference over to Investor Relations. Please go ahead.
Unidentified Company Representative
Thank you, and good afternoon, everyone. Before we begin, I'd like to remind everyone that comments on this conference call may contain certain forward-looking statements regarding the company's expected operating and financial performance for future periods and industry trends. These statements are based on the company's current expectations. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of risks and other factors that are described in greater detail under the section titled Risk Factors in our Form 10-K and 10-Q and in other reports filed with the US Securities and Exchange Commission.
Additionally today's remarks will refer to certain non-GAAP financial measures. Reconciliations of non-GAAP financial measures to the corresponding GAAP measures can be found in our earnings release furnished today with the SEC and are also available on Guild's Investor Relations website.
And now, I'd like to turn the call over to Chief Executive Officer, Terry Schmidt. Terry?
Terry Schmidt
Thank you. Good afternoon, everyone, and thank you for joining us. I am very pleased to be conducting my first earnings call as CEO and to be joined by our President and COO David Neylan as well as our Chief Financial Officer, Amber Kramer.
Our second quarter results were in line with our expectations as we accelerated production with total in-house loan origination of $4.5 billion, up from $2.7 billion in the first quarter. These results reflected our continued strategy to grow market share as we further scale our platform.
We are achieving this through the successful execution of our organic and external growth strategy. Broader industry challenges persist due to higher interest rates and limited home inventory, which is putting pressure on production volume and industry margins. However, the Guild brand within the mortgage industry is stronger than it's ever been and we believe we are well-positioned given several factors that have historically helped us to achieve our long-term targets.