The mortgage insurer reported $2.08 EPS and $362.69M revenue, exceeding analyst expectations for the quarter.
Essent Group posted second-quarter GAAP earnings per share of $2.08, surpassing estimates by $0.34. Revenue reached $362.69 million, up 13.6% year-over-year and $22.43 million above forecasts.
The company’s mortgage insurance written for the quarter totaled $14.1 billion, compared to $11.1 billion in the prior quarter. Analysts had anticipated revenue growth but not at the reported magnitude.
Shares may react positively to the earnings beat, though market response was not detailed in the release.