Countrywide Financial Corp.’s earnings decreased to $683.5 million, or $1.10 per share, on sales of $2.84 billion for the first quarter of 2006 due to a flat yield curve and higher interest rates. For the same period in 2005, Countrywide posted earnings of $688.9 million, or $1.13 per share, on sales of $2.4 billion. While sales increased 18 percent, earnings dropped 1 percent. Countrywide increased 2006 earnings guidance to $3.90 to $4.80 per share, compared to $3.80 to $4.80 per share.
Countrywide Earnings Drop