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UWM Holdings

UWM Holdings (UWMC) Q1 2026 Earnings

Reported May 6, 2026 at 8:42 AM ET · SEC Source

Q1 26 EPS

$0.09

BEAT +33.33%

Est. $0.07

Q1 26 Revenue

$901.4M

BEAT +27.34%

Est. $707.9M

Did UWMC Beat Earnings? Q1 2026 Results

UWM Holdings Corp swung decisively back into the black in Q1 2026, posting GAAP diluted EPS of $0.09 on revenue of $901.43 million, compared to a net loss of $247.03 million in the same period a year ago. The primary engine behind the turnaround was … Read more UWM Holdings Corp swung decisively back into the black in Q1 2026, posting GAAP diluted EPS of $0.09 on revenue of $901.43 million, compared to a net loss of $247.03 million in the same period a year ago. The primary engine behind the turnaround was a surge in refinance activity, with origination volume reaching $44.94 billion, up 39% year-over-year, as borrowers rushed to lock in rates and total gain margin expanded to 123 basis points from 94 basis points a year ago. Loan production income climbed 82% year-over-year to $554.57 million, while the company's growing servicing portfolio, now carrying an unpaid principal balance of $229.50 billion, contributed $213.38 million in loan servicing income. Adjusted EBITDA of $160.91 million rose nearly threefold from Q1 2025's $57.80 million, reflecting the improving earnings quality. Looking ahead, UWM expects to have substantially all loans serviced in-house by October 2026, ahead of schedule, a shift management believes will improve borrower retention and drive long-term shareholder value regardless of the rate environment.

Key Takeaways

  • • 39% year-over-year increase in loan origination volume to $44.9 billion
  • • Refinance originations more than doubled year-over-year to $26.3 billion
  • • Total gain margin expanded to 123 bps from 94 bps year-over-year
  • • Loan servicing income grew to $213.4 million from $190.5 million year-over-year
  • • Favorable MSR fair value change versus year-ago quarter
24/7 Wall St

UWMC YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

UWMC Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“Q1 was an exceptional quarter for UWM and our second‑best first quarter of all time. The last time we delivered results of this magnitude, interest rates were nearly 50% lower, which underscores the strength, scale and resilience of our business. Our team and broker partners executed at the highest level, using UWM's proprietary technology and AI‑powered tools like Mia to win more loans, more efficiently, every day. We continue to move ahead of schedule with bringing servicing in‑house, and regardless of whether rates stay higher or move lower, we are positioned to keep winning as we are built to perform through all cycles. This quarter is a clear proof point of that.”

— Mat Ishbia, Q1 2026 Earnings Press Release

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