Guild Company (GHLD) Q3 2025 earnings summary

Executive summary

• Originated $7.4B in mortgage loans in Q3 2025, up 7% year-over-year, with 85.9%–86% from purchase originations, outperforming industry averages and reflecting a focus on purchase market share.

• Net income was $33.3M for Q3 2025, reversing a loss in the prior year period and up 78.7% sequentially; diluted EPS was $0.53–$0.54 for Q3.

• Adjusted net income was $47.0M and adjusted EBITDA was $72.0M for Q3, both showing strong sequential and year-over-year growth.

• Servicing portfolio reached $98.3B UPB at Q3 end, up 2.3% sequentially and 8.4% year-over-year.

• Announced a pending merger to become a private company, with a $20.00/share cash offer, expected to close by Q4 2025.

Financial highlights

• Q3 2025 revenue: $307.4M, up 10% sequentially and 93% year-over-year; YTD revenue: $785.4M, up 16.1% year-over-year.

• Loan origination fees and gain on sale: $243.9M in Q3, up 3.3% sequentially; gain on sale margin increased to 347 bps in Q3.

• Loan servicing and other fees: $73.9M in Q3, up 1.6% sequentially; $219.4M YTD, up 7.3% year-over-year.

• Book value per share: $19.87 at Q3 end; tangible net book value per share: $16.35.

• MSR valuation adjustment loss: $(29.0)M in Q3, $(140.3)M YTD, reflecting negative fair value changes.

Outlook and guidance

• Industry origination volume forecasted to rise 20.5% in 2025; company expects continued growth but notes ongoing margin pressure from competition and market volatility.

• Merger expected to close by end of Q4 2025, with no financing conditions; company to become private.

• Focus remains on customer-for-life strategy and expanding the platform.