earnings
confidence high
sentiment positive
materiality 0.80
Enact Q2 GAAP net income $205M, EPS $1.25; ROE 20.1%
Enact Holdings, Inc.
2022-Q2 EPS reported
$2.26
revenue$543,129,000
- Net income $205M ($1.25 diluted EPS) vs $165M ($1.01) Q1 and $131M ($0.80) Q2 2021.
- Record insurance-in-force $238B (+9% YoY); NIW $17B (-35% YoY) on higher rates.
- Loss ratio (26)%; $96M reserve release from favorable cure performance on COVID delinquencies.
- Moody's upgraded Enact Mortgage IFSR to Baa1 from Baa2; entered $200M revolver on June 30.