Guild Holdings Company (NYSE:GHLD) Q1 2022 Earnings Conference Call May 6, 2022 8:30 AM ET
Company Participants
Michael Kim - IR
Mary Ann McGarry - CEO
Terry Schmidt - President
Amber Kramer - CFO
Conference Call Participants
Rick Shane - JP Morgan
Paul Fandetti - Wells Fargo Securities
Trevor Cranston - JMP Securities
Operator
Good morning, ladies and gentlemen, and welcome to the Guild Holdings Company First Quarter 2022 Earnings Conference Call. [Operator Instructions] As a reminder, this call will be recorded.
I would now like to turn the conference over to Michael Kim, Investor Relations. Please go ahead, sir.
Michael Kim
Thank you, and good morning, 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. 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 or other factors that are described in greater detail under the section titled, Risk Factors in Guild's Form 10-K and 10-Q and in other reports filed with the U.S. 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 filed today with the SEC and are also available on Guild's Investor Relations website.
Participating in the call today are Chief Executive Officer, Mary Ann McGarry; President, Terry Schmidt; and Chief Financial Officer, Amber Kramer.
Now I'd like to turn the call over to Mary Ann McGarry. Mary Ann?
Mary Ann McGarry
Thank you, Michael. Good morning, everyone, and thank you for joining us. As always, I'm joined by our President, Terry Schmidt, and our Chief Financial Officer, Amber Kramer. Our Chief Operating Officer, David Neylan will join us for Q&A after our prepared remarks.
For the first quarter of 2022, our financial results reinforce the benefits of our differentiated and balanced business model, origination volumes and gain on sale margins compressed compared to prior quarters. Consistent with broader industry trends; adjusted net income and earnings per share came in at $32 million and $0.53, respectively for the first quarter of this year.
Our servicing platform, which Terry will discuss in further detail, acted as a hedge with strong growth in servicing fees as well as sizable gains in the underlying value of the MSR assets on the balance sheet.