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Nationstar Mortgage Announces Fourth Quarter and Full Year 2012 Financial Results

Stocks in this article: NSM

Nationstar Mortgage Holdings Inc. (NYSE:NSM):


  • Record net income of $64 million, or $0.71 per share
  • Ending servicing portfolio UPB of $208 billion; Feb’13 UPB over $300 billion
  • Increased servicing segment profitability
  • Third consecutive quarter of record originations volume and application pipeline
  • Solutionstar initiative to expand fee-based services offering


  • Record net income of $205 million, or $2.40 per share
  • Servicing portfolio growth of 94%, including Aurora acquisition
  • Originations of $7.9 billion, growth of 132%
  • Top 3 performing IPO with 121% increase in shareholder value
  • Return on equity of 40%

Nationstar Mortgage Holdings Inc. (NYSE:NSM) (“Nationstar”), a leading residential mortgage services company, today reported that quarterly net income grew 16% sequentially to $63.8 million, or $0.71 per share, for the fourth quarter 2012 compared to $55.1 million, or $0.61 per share, in the third quarter 2012 and 328% year-over-year versus $14.9 million in the fourth quarter 2011, or $0.21 per share. Net income for the full year 2012 increased 882% to $205.3 million, or $2.40 per share, from $20.9 million in 2011, or $0.30 per share.

On a Non-GAAP basis, adjusted EBITDA (“AEBITDA”) for operating segments grew 26% to $155.0 million, or $1.72 per share, for the current quarter versus $123.0 million, or $1.37 per share, in the third quarter 2012. Full year 2012 AEBITDA increased 236% to $456.4 million, or $5.34 per share, from $136.0 million, or $1.94 per share, in 2011. In the current quarter AEBITDA margin was 47%.

Nationstar’s revenue grew 17% to $332.6 million in the fourth quarter from $284.9 million in the prior quarter and was up 180% from $118.6 million in the fourth quarter of 2011. Full year 2012 revenue increased 161% to $984.3 million from $377.8 million in 2011. Pre-tax income from operating segments for the fourth quarter increased 17% to a $96.6 million, or $1.07 per share, up from $82.7 million, or $0.92 per share, in the third quarter of 2012 and was up 324% from $22.8 million, or $0.33 per share, in the fourth quarter of 2011. Full year 2012 pre-tax income from operating segments was a $297.1 million, up 549% from $45.8 million in 2011. In the current quarter, pre-tax income margin from operating segments was 30%.

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