Velocity Financial, Inc. Announces First Quarter 2020 Results
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Velocity Financial Inc. (VEL) Misses Q1 EPS by 20c
May 13, 2020 8:32 AM EDTVelocity Financial Inc. (NYSE: VEL) reported Q1 EPS of $0.29, $0.20 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $15.77 million, versus $15.01 million reported last year.
President and CEO, Chris Farrar commented, Our first quarter results reflect one-time costs from our corporate debt paydown with IPO proceeds and an increase to our loan loss reserve due to COVID-19. While the last two... More
