MGIC Investment (MTG) Tops Q3 EPS by 8c

MGIC Investment (NYSE: MTG) reported Q3 EPS of $0.18, $0.08 better than the analyst estimate of $0.10. Revenue for the quarter came in at $235.1 million versus the consensus estimate of $233.3 million.

Curt S. Culver, CEO and Chairman of the Board of Mortgage Guaranty Insurance Corporation (“MGIC”) and MTG, said “I am pleased to report we had another profitable quarter and that the amount of new insurance written increased 21% while the delinquency inventory declined more than 25% from the same period last year.” Relative to the recently proposed GSE mortgage insurance eligibility requirements he further added that “I fully expect that we will comply with the requirements, whether they are modified or not, and that MGIC will remain a vital part of the evolving U.S. housing finance system.”

For earnings history and earnings-related data on MGIC Investment (MTG) click here.

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