UWM Holdings Corporation (NYSE:UWMC) Q2 2024 Earnings Conference Call August 6, 2024 10:00 AM ET

Company Participants

Blake Kolo - Chief Business Officer & Head, Investor Relations
Mat Ishbia - Chairman & Chief Executive Officer
Andrew Hubacker - Chief Financial Officer

Conference Call Participants

Bose George - KBW
Derek Summers - Jefferies
Doug Harter - UBS
Brad Capuzzi - Piper Sandler
Eric Hagen - BTIG
Mark DeVries - Deutsche Bank
Terry Ma - Barclays
Ryan Shelley - Bank of America

Operator

Ladies and gentlemen, good morning. My name is Abbie and I will be your conference operator today. At this time, I would like to welcome everyone to the UWM Holdings Corporation Second Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise and the after the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. And Blake Kolo, you may begin your conference.

Blake Kolo

Good morning. This is Blake Kolo, Chief Business Officer and Head of Investor Relations. Thank you for joining us and welcome to the second quarter 2024 UWM Holdings Corporation’s earnings call.

Before we start, I would like to remind everyone that this conference call includes forward-looking statements. For more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to our earnings release that we issued this morning.

Our commentary today will also include non-GAAP financial measures. For information on our non-GAAP metrics and the reconciliations between the GAAP and non-GAAP metrics for the reported results, please refer to the earnings release issued earlier today as well as our filings with the SEC.

I will now turn the call over to Mat Ishbia, Chairman and CEO of UWM Holdings Corporation and United Wholesale Mortgage.

Mat Ishbia

Thanks Blake and thank you everyone for joining us today. For a while now, we've been saying 2024 would be a better year for the industry than 2023. And although it hasn't been that much better yet, our production at UWM has been winning. The market might be getting better soon, which we'll talk about a little bit later. But industry volume in the first half of 2024 versus 2023 is about the same.

Most people are living in the purchase-driven market, but there's still tremendous upside that lies ahead. UWM has been winning. We had an amazing quarter, which we'll go through the details, but the market might be getting better here soon.