loanDepot, Inc. (NYSE:LDI) Q4 2022 Earnings Call Transcript

Bob Napoli: Can you get to breakeven from a financial net income perspective in this market over the next year?

Frank Martell: Yes. Look, I think as we stated, we will continue to drive toward cash flow neutrality and operating profitability in any market. And as Pat said, I think we planned this year on a $15 trillion, which is a very low market volume. And I don’t think we have a certain answer. I don’t anybody does, but I think we’re taking — as you pointed out, we’re taking the right actions. And as I said in my prepared remarks, we’re prepared to adjust our planning depending on market conditions. And we’re hopeful we’ll see a solid uptick in the selling season in the spring. That doesn’t materialize, we’ll be looking at continued cost management activity — aggressive cost management activity. But getting to a run rate profitability continues to be a North Star under the Vision 2025.

It’s just a function of the market and managing through the market, and it’s certainly the roughest market in the generation for sure. But I think we have liquidity, and we have a very sound and prudent capital management strategy that will see us through this cycle.

Bob Napoli: Thank you. Appreciated.

Operator: That does conclude the question-and-answer session. Frank Martell, I’ll turn the call back over to you for any additional or closing remarks.

Frank Martell: Thanks, Lisa. So well, thanks, everybody, for joining us today. We really appreciate the insightful questions and your time today. On behalf of Jeff, and Jeff and Pat, and really the rest of the team loanDepot, I want to thank everybody for your support and your continued interest in the company, and we’ll continue to keep you all appraised of our continuing progress, both on a short term and a longer-term shareholder value creation plan that we believe is encapsulated in Vision 2025. So again, thanks very much, and have a great day.

Operator: And this concludes today’s conference call. You may now disconnect.