Radian Group (RDN) Tops Q2 EPS by 10c

Radian Group (NYSE: RDN) reported Q2 EPS of $0.69, $0.10 better than the analyst estimate of $0.59. Revenue for the quarter came in at $249 million versus the consensus estimate of $247.26 million.

• GAAP net income increases to $208.9 million; diluted net income per share grows to $0.96 --
• Adjusted diluted net operating income per share increases 44% year-over-year to $0.69 --
• Writes new MI business of $16.4 billion, setting a company record for highest quarterly volume of flow MI; MI in force increases 10% year-over-year to $210.7 billion --
• Book value per share grows 11% year-over-year

“We reported outstanding financial results for the second quarter, with net income of $209 million, adjusted net operating ROE of 19%, record-breaking NIW of $16.4 billion, growth in our Services segment, 10% growth in MI insurance in force and 11% growth in book value,” said Radian’s Chief Executive Officer Rick Thornberry. “These results reflect the success of our business strategy as one Radian, the breadth and depth of our customer relationships, the strength and flexibility of our financial position, the value of our $211 billion insurance portfolio and the hard work of our outstanding team.”

For earnings history and earnings-related data on Radian Group (RDN) click here.

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