Radian Group (RDN) Misses Q1 EPS by 4c, Revenues Beat

Radian Group (NYSE: RDN) reported Q1 EPS of $0.70, $0.04 worse than the analyst estimate of $0.74. Revenue for the quarter came in at $329.08 million versus the consensus estimate of $298.71 million.

“I am pleased to report another quarter of strong operating results for Radian, with net income of $140.5 million, adjusted pretax operating income of $204.6 million and 16% year-over-year growth in book value. These results are a testament to the strength of our business model and the power of our One Radian unified team,” said Radian’s Chief Executive Officer Rick Thornberry. “As the COVID-19 pandemic began to impact both the macroeconomic and business environment toward the end of the first quarter, this same team demonstrated incredible resilience and commitment. Our business continuity plans were in place, our technology infrastructure was ready, and our employees migrated to a virtual work environment seamlessly, with minimal disruption to our customers and businesses.”

Thornberry added, “I believe we are well prepared for this economic environment with a strong capital position and significant holding company resources, and I am very proud of how our entire team at Radian has responded to this challenge.”

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

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