Financial Performance - The company reported a net income of $450 million for the quarter, representing a 15% increase year-over-year[2]. - Net income for the quarter was $151,903, a rise of 4.0% from $146,087 year-over-year[21]. - Net income for the three months ended June 30, 2024, was $151,903 thousand, compared to $146,087 thousand for the same period in 2023, reflecting an increase of 5.0%[40]. - Net income for the six months ended June 30, 2024, was $304.3 million, slightly up from $303.8 million for the same period in 2023, indicating a growth of 0.2%[25]. - The company reported a comprehensive income of $137,088 for Q2 2024, compared to $109,034 in Q2 2023, an increase of 25.7%[21]. - The company reported a decrease in unearned premiums to $206,094 thousand from $225,396 thousand, a decline of approximately 9%[17]. - The company reported net unrealized losses on investments of $14.8 million for the three months ended June 30, 2024, compared to losses of $37.1 million for the same period in 2023[23]. Revenue and Growth - New insurance written (NIW) for the quarter was $2.5 billion, a 10% increase compared to the previous quarter[2]. - The company expects a revenue growth of 12% for the next fiscal year, driven by market expansion and new product offerings[2]. - Total revenues reached $321,147, representing a 10.8% increase compared to $289,579 in the prior year[19]. - Total revenues for Q2 2024 reached $321,147 thousand, up 10.8% from $289,579 thousand in Q2 2023[47]. - Total revenues for the six months ended June 30, 2024, of $640,565 thousand, compared to $599,431 thousand in 2023, reflecting a growth of 6.9%[47]. Assets and Liabilities - Total assets increased to $8,129,643 thousand as of June 30, 2024, compared to $7,593,933 thousand at December 31, 2023, reflecting a growth of approximately 7%[17]. - Total liabilities rose to $3,647,324 thousand, up from $3,196,128 thousand, marking an increase of around 14%[17]. - Stockholders' equity increased to $4,482,319 thousand from $4,397,805 thousand, showing a growth of about 2%[17]. - The company’s additional paid-in capital decreased to $1,356,341 thousand from $1,430,594 thousand, a decline of approximately 5%[17]. Insurance and Market Activity - The persistency rate for insurance in force (IIF) was 85%, indicating strong retention of policies[2]. - Total direct primary mortgage insurance in force (IIF) reached $272.8 billion as of June 30, 2024, up from $270.0 billion as of December 31, 2023, indicating a growth of 1.0%[30]. - The company reported a New Insurance Written (NIW) of $450 million for the quarter, reflecting a significant increase in mortgage insurance activity[7]. - The company is focused on maintaining eligibility under the PMIERs to ensure continued insurance of loans purchased by GSEs[11]. Expenses and Financial Management - Total expenses increased to $133,024, up 24.5% from $106,903 in the same period last year[19]. - Interest expense for the six months ended June 30, 2024, was $56,110 thousand, compared to $43,244 thousand for the same period in 2023, reflecting an increase of approximately 29.8%[106]. - The company has initiated a share buyback program worth $100 million to enhance shareholder value[2]. - The company reported a net cash outflow of $156,238, compared to a cash inflow of $189,249 in the same period last year[25]. Strategic Initiatives - The company plans to enter three new markets in 2024, aiming to increase its market share by 5%[2]. - A new technology platform is set to launch in Q2 2024, expected to enhance operational efficiency and customer experience[2]. - The company is exploring potential acquisitions to expand its market presence and enhance service offerings in the mortgage insurance sector[11]. - The company is actively pursuing new technology developments to enhance its real estate services, aiming to improve data analytics capabilities[11]. Shareholder Returns - The company declared dividends totaling $39,391, compared to $38,001 in the same period last year[23]. - The quarterly dividend was increased from $0.225 to $0.245 per share starting in February 2024, with total annual dividends per share declared and paid amounting to $0.490 for 2024[122]. - Radian Group's board approved a share repurchase program with a total authorization of up to $900 million, with $667 million remaining available as of June 30, 2024[120]. Compliance and Regulatory Matters - The company emphasized the importance of maintaining adequate capital levels in its insurance subsidiaries to meet regulatory requirements[13]. - Radian Guaranty maintained a Risk-to-capital ratio of 10.3:1 as of June 30, 2024, compared to 10.4:1 as of December 31, 2023, indicating compliance with statutory RBC requirements[129]. - Radian Group Inc. was in compliance with all financial requirements set by state regulators and loan purchasers as of June 30, 2024[74]. Investment and Market Conditions - The company reported net losses on investments and other financial instruments of $(4,438) thousand in Q2 2024, compared to $(331) thousand in Q2 2023[47]. - The company expects to hold investments in an unrealized loss position until recovery of their amortized cost basis, indicating no anticipated realized losses[59]. - The company reported a total of $71.1 billion in risk in force (RIF) as of June 30, 2024, compared to $69.7 billion as of December 31, 2023, reflecting a growth of 2.0%[30].

Radian Group Inc. (NYSE:RDN) Q2 2024 Earnings Conference Call August 1, 2024 12:00 PM ET Company Participants Dan Kobell - Head-Investor Relations & Capital Management Rick Thornberry - Chief Executive Officer Sumita Pandit - Chief Financial Officer Derek Brummer - President, Radian Mortgage Insurance Conference Call Participants Bose George - KBW Doug Harter - UBS Soham Bhonsle - BTIG Operator Good day and thank you for standing by. Welcome to the Second Quarter 2024 Radian Group Earnings Conference Call. ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------|-------|---------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Financial Results Q2 2024 | | | | | | | | | | | | | | | | | | | | NYSE: RDN www.radian.com | | | | | | | | | | | Safe Harbor Statements All statements in this presentation that address events, developments or results that we expect or anticipat ...

Radian Group Inc. (RDN) reported second-quarter 2024 adjusted operating income of 99 cents per share, which beat the Zacks Consensus Estimate by 13.8%. Moreover, the bottom line increased 8.8% year over year. Operating revenues increased 12.3% year over year to $325.6 million due to higher net premiums earned, services revenues and net investment income. The results reflected solid performance across both Mortgage and All Other segments, higher primary mortgage insurance in force, improved investment income ...

radian press release July 31, 2024 Radian Announces Second Quarter 2024 Financial Results — Second quarter net income of $152 million, or $0.98 per diluted share — — Return on equity of 13.6% — — Book value per share growth of 12% year-over-year to $29.66 — — Available Holding Company Liquidity increased to $1.2 billion following $200 million ordinary dividend from Radian Guaranty during the second quarter — — Share repurchase authorization increased to $900 million and extended through June 2026; $50 milli ...

Radian (RDN) came out with quarterly earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.87 per share. This compares to earnings of $0.91 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 13.79%. A quarter ago, it was expected that this mortgage insurer would post earnings of $0.83 per share when it actually produced earnings of $1.03, delivering a surprise of 24.10%. Over the last four quarters, the company ...

Price and EPS Surprise Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Radian (RDN) . This company, which is in the Zacks Insur ...

Earnings Surprise History RDN currently carries a Zacks Rank #2 (Buy). The stock has gained 22.4% compared with the industry's growth of 24.9% in the past year. Business Tailwinds RDN has been witnessing a declining pattern of claim filings. Thus, we expect paid claims to decrease further. A decline in loss and claims will strengthen the balance sheet and hence improve its financial profile. Other Stocks to Consider The Zacks Consensus Estimate for EVER's 2024 and 2025 revenues implies year-over-year growth ...

Radian Group Inc. (RDN) is poised to grow on the back of an improving mortgage insurance portfolio, declining claims, higher interest rates, a solid capital position and effective capital deployment. Northbound Estimate Revision The Zacks Consensus Estimate for 2024 earnings has moved up nearly 7.6% in the past 30 days, reflecting investors' optimism. Earnings Surprise History Radian Group has a decent earnings surprise history. It surpassed estimates in each of the last four quarters, the average being 22. ...

The board of directors of Radian Group (RDN) authorized a share buyback program to return more value to investors. With the latest authorization, the board increased the authorization by $600 million to $900 million. The program remains active through Jun 30, 2026. Generally, companies see share repurchase as a prudent use of additional cash to buy back their own shares when the stock is undervalued, apart from hiking dividends, paying special dividends and deploying funds for growth initiatives. Radian Gro ...