HMST Reports Q4 Loss, Misses Expectations
HomeStreet Inc. (HMST) reported a fourth-quarter loss of $123.3 million, or $6.54 per share. Excluding non-recurring costs, the loss was 27 cents per share, below analysts' expectations of 21 cents.
Revenue for the quarter totaled $20.9 million, with adjusted revenue reaching $40.3 million. Both figures fell short of analysts' estimates of $41.3 million.
For the full year, HMST reported a loss of $144.3 million, or $7.65 per share, on revenue of $164.5 million.
The company's financial performance has been impacted by market conditions and non-recurring expenses. HomeStreet continues to monitor the macroeconomic environment and adjust its operations accordingly.