Quarterly ResultMay 8, 2026, 06:32 AM
Essent Q1 Net Income $171.8M, EPS $1.82; Dividend $0.35
AI Summary
Essent Group Ltd. reported Q1 2026 net income of $171.8 million, a slight decrease from $175.4 million in Q1 2025. However, diluted earnings per share increased to $1.82 from $1.69, benefiting from share repurchases. The company's Board of Directors also declared a quarterly cash dividend of $0.35 per common share. Management expressed satisfaction with the results, citing favorable credit trends and the impact of interest rates on persistency and investment income, alongside strong cash flow generation and a balanced approach to capital management.
Key Highlights
- Essent Q1 2026 net income was $171.8 million, down from $175.4 million in Q1 2025.
- Diluted EPS for Q1 2026 was $1.82, up from $1.69 in Q1 2025.
- Board declared a quarterly cash dividend of $0.35 per common share.
- Mortgage new insurance written was $11.1 billion in Q1 2026, up from $9.9 billion in Q1 2025.
- Mortgage insurance in force was $247.9 billion as of March 31, 2026, up from $244.7 billion in Q1 2025.
- Net investment income for Q1 2026 increased to $59.3 million from $58.2 million in Q1 2025.
- Essent repurchased approximately 3.5 million common shares for over $214 million year-to-date through April 30, 2026.
- PMIERs sufficiency ratio was 174% as of March 31, 2026, compared to 172% in Q1 2025.