Guild Holdings Company (NYSE:GHLD) Q3 2024 Earnings Conference Call November 6, 2024 5:00 PM ET
Company Participants
Nikki Sacks - Investor Relations
Terry Schmidt - Chief Executive Officer
David Neylan - President
Amber Kramer - Chief Financial Officer
Conference Call Participants
Eric Hagen - BTIG
Derek Sommers - Jefferies
Giuliano Bologna - Compass Point
Operator
Good afternoon, ladies and gentlemen, and welcome to the Guild Holdings Company Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session with the instructions to follow at that time. As a reminder, this call will be recorded.
I will now 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. Preliminary results for any portion of a quarter may not be indicative of full quarter results and are subject to management and auditor customary review procedures.
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 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. Reconciliation of non-GAAP financial measures to the corresponding GAAP measures can be found in our earnings release furnished today with the SEC and 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
Good afternoon, everyone. Thank you for joining us to discuss our third quarter results and strategic update. With me today is David Neylan, our President and Amber Kramer, our CFO. We are pleased not only with our third quarter results and the momentum we're building, but also with the benefits we continue to see from the successful execution of our strategy to invest in market share through the downturn. Guild is very well positioned for better-than-industry growth as the market normalizes.
Let me start by highlighting our third quarter performance, which reflects the strength of our retail model and the sustainable positive trajectory of our business. We delivered adjusted net income of $31.7 million as well as achieving profitability in our origination segment, which demonstrates a favorable operating leverage in our business. With $6.9 billion of origination in the quarter, we generated strong growth, up 6% sequentially from the second quarter and up 59% from the prior year. This performance demonstrates the strength of our retail origination business as we deliver positive results from the successful integration of our acquisitions and robust organic recruiting.