PennyMac Mortgage Investment Trust (PMT) Q2 2026 Earnings Call July 29, 2026 6:00 PM EDT
Company Participants
David Spector – Chairman of the Board & CEO
Daniel Perotti – Senior MD & CFO
Conference Call Participants
Bose George – Keefe, Bruyette, & Woods, Inc., Research Division
Marissa Lobo
Trevor Cranston – Citizens JMP Securities, LLC, Research Division
Douglas Harter – BTIG, LLC, Research Division
Presentation
Operator
Thank you. Good afternoon, and welcome to PennyMac Mortgage Investment Trust’s second quarter 2026 earnings call. [Operator Instructions] Additional earnings materials, including the presentation slides that will be referred to in the call, as well as an Excel file with supplemental information, are available on the PennyMac Mortgage Investment Trust website at pmt.pennymac.com.
Before we begin, let me remind you that this call may contain forward-looking statements that are subject to certain risks identified on Slide 2 of the earnings presentation that could cause the company’s actual results to differ materially, as well as non-GAAP measures that have been reconciled to their GAAP equivalent in their earnings materials.
Now I’d like to introduce David Spector, PennyMac Mortgage Investment Trust Chairman and Chief Executive Officer; and Dan Perotti, PennyMac Mortgage Investment Trust Chief Financial Officer. Please go ahead.
David Spector
Chairman of the Board & CEO
Thank you, operator. Good afternoon, and thank you to everyone for participating in our second quarter 2026 earnings call.
Starting on Slide 3. PMT’s second quarter net income was $20 million, or $0.23 per diluted common share, representing a 6% annualized return on common equity. These results were impacted by a lower contribution from our credit-sensitive strategies, driven primarily by market-driven value declines as well as lower contributions from our aggregation and securitization strategies, primarily due to lower volumes.
These impacts were partially offset by improved results in our interest rate-sensitive
