Earnings Calls

Last Earnings Call

Fiscal Period
Q2 2026
Call Date
Aug 6, 2026
AI Summary
Q2 2026

Transformation: Radian said it has finished a major strategic overhaul, including closing Inigo, selling its real estate services business, agreeing to sell title, and exiting mortgage conduit operations.

Results: Second-quarter revenue jumped 93% year over year to $575 million, helped by the first full quarter of Inigo’s contribution.

Mortgage strength: The mortgage insurance business stayed strong, with new insurance written up 14% to $16.3 billion and primary insurance in force reaching a record $284 billion.

Specialty pressure: Management said specialty insurance is still performing well, but market conditions are getting more competitive and rates are softening, so underwriting discipline matters more than growth.

Middle East reserve: Radian booked about $30 million of reserving related to the Middle East conflict and said it feels well reserved and is actively monitoring the situation.

Capital returns: The company increased its 2026 dividend outlook to at least $650 million and expects share repurchases to land toward the upper end of the $200 million to $250 million range.

Key Financials
Revenue
$575 million
Net earned premiums
$504 million
Net income from continuing operations per share
$0.87
Return on equity
10%
Adjusted net operating earnings per share
$1.14
Adjusted net operating return on equity
13%
Book value per share
$36
Net investment income
$75 million
Investment portfolio
$7.1 billion
New insurance written
$16.3 billion
Persistency
82%
Primary insurance in force
$284 billion
New defaults
approximately 12,400
Portfolio default rate
2.47%
Favorable development from prior period defaults
$20 million
Mortgage segment expense ratio
23%
Specialty net premiums earned
$267 million
Specialty operating expenses
$39 million
Specialty loss provision
$169 million
Specialty combined ratio
98%
First-half specialty combined ratio
93%
PMIERs cushion
$1.5 billion
Radian Guaranty dividend to parent
$200 million
Dividends from held-for-sale entities
$19 million
Capital returned from held-for-sale entities
$127 million
Common stock repurchases
$76 million
Shares repurchased
2.2 million shares
Year-to-date share repurchases
$176 million
Quarterly dividend
$37 million
Revolving credit facility draw
$75 million
Holding company leverage ratio
19%
Holding company liquidity
$412 million
Total dividends expected in 2026
at least $650 million
Earnings Call Recording

Other Earnings Calls