Guild Holdings Company (NYSE:GHLD) Q1 2024 Earnings Conference Call May 9, 2024 5:00 PM ET
Company Participants
Nikki Sacks - IR
Terry Schmidt - CEO
David Neylan - President
Desiree Elwell - CFO
Conference Call Participants
Don Fandetti - Wells Fargo
Kyle Joseph - Jefferies
Rick Shane - JPMorgan
Eric Hagen - BTIG
Operator
Good afternoon, ladies and gentlemen, and welcome to the Guild Holdings Company First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this call will be recorded.
I would now like to turn the conference over to Investor Relations. Please go ahead.
Nikki Sacks
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 or other factors that are described in detail under the section titled Risk Factors in Guild's most recently filed Annual Report on Form 10-K and in other reports subsequently 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 furnished today with the SEC and are also available on Guild's Investor Relations website.
I'd now like to turn the call over to Chief Executive Officer, Terry Schmidt. Terry?
Terry Schmidt
Thank you, Nikki. Good afternoon, everyone, and thank you for joining us to discuss our first quarter results and strategic update. I am joined by our President, David Neylan; as well as our Chief Financial Officer, Amber Kramer.
I am pleased to share that we are continuing to effectively execute on our strategy and gaining market share as we leverage our platform to take advantage of market dynamics. At the same time, we are demonstrating the benefit of our balanced business model, which is focused on retail mortgage originations and complemented by our servicing platform.
By staying focused on this strategy, we have again achieved attractive market share gains. In the first quarter, total originations were $3.9 billion, up by $300 million sequentially from the fourth quarter and up 40% year-over-year. This compares to an increase of 13% for the first quarter of 2024 as compared to the same period of the prior year as reported by the MBA, a clear indicator of our share gain.