earnings
confidence high
sentiment neutral
materiality 0.70
Radian Q1 net income $152M ($0.98 EPS); adjusted EPS $1.03; MI in force hits record $271B
RADIAN GROUP INC
2024-Q1 EPS reported
$0.98
revenue$319,418,000
- Net income $152M ($0.98 diluted EPS) vs $158M ($0.98) YoY; adjusted pretax operating income $203M ($1.03 diluted).
- Total revenue $319M, up 3% YoY; ROE 13.8%, adjusted net operating ROE 14.5%.
- Primary MI in force $271B (record, +4% YoY); default rate 2.1%, highest quarterly cure rate in over 20 years.
- Completed $625M senior notes offering and $525M senior notes redemption during Q1.
- Book value per share $29.30 (+12% YoY); holding company liquidity $1.37B.