Overview

* Radian Q2 revenue of $318 mln beats analyst expectations, per LSEG data

* Net income for Q2 at $142 mln, diluted EPS $1.02

* Primary mortgage insurance in force hits record $276.7 bln

* Repurchased $223 million of shares during the second quarter and paid $35 million of dividends

Outlook

* Company highlights favorable credit trends as key driver for future earnings

Result Drivers

* MORTGAGE INSURANCE GROWTH - Primary mortgage insurance in force reached a record high of $276.7 bln, contributing to future earnings potential

* DEFAULT RATE DECLINE - Default rate decreased from the prior quarter, driven by favorable credit trends

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $318 mln $238.90

Revenue mln (3

Analysts

)

Q2 EPS $1.02

Q2 Net $142 mln

Income

Q2 $173 mln

Adjusted

Operatin

g Income

Q2 12.4%

Adjusted

ROE

Q2 $175 mln

Pretax

Profit

Q2 ROE 12.5%

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the property & casualty insurance peer group is "buy."

* Wall Street's median 12-month price target for Radian Group Inc ( RDN ) is $37.50, about 9.5% above its July 29 closing price of $33.94

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)