Brief: Velocity Financial, Inc. Announces First Quarter 2020 Results

Velocity Financial

13/05/2020 14:05

May 13 (Reuters) - Velocity Financial Inc  VEL.N :
    * VELOCITY FINANCIAL, INC. ANNOUNCES FIRST QUARTER 2020
RESULTS
    * Q1 CORE EARNINGS PER SHARE $0.29
    * Q1 EARNINGS PER SHARE $0.13
    * Q1 EARNINGS PER SHARE ESTIMATE $0.32 -- REFINITIV IBES
DATA
    * VELOCITY FINANCIAL - QTRLY CORE EPS INCLUDES IMPACT OF
ONE-TIME
EXPENSE FROM PAYDOWN OF CORPORATE DEBT, PROVISIONING FOR
COVID-19 IMPACTS
    * VELOCITY FINANCIAL - MANY OF CO'S LOAN PRODUCTION STAFF
HAVE
BEEN PLACED ON 60-DAY TEMPORARY FURLOUGH, EFFECTIVE MAY 1, 2020
    * VELOCITY FINANCIAL - TEMPORARILY SUSPENDED LOAN
ORIGINATION
ACTIVITIES UNTIL MARKETS STABILIZE

Source text for Eikon:  ID:nBwc1jTd4a 
Further company coverage:  VEL.N 

 ((Reuters.Briefs@thomsonreuters.com;))