MGIC Investment Corporation Reports Second Quarter 2019 Results

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Go back to MGIC Investment Corporation Reports Second Quarter 2019 Results

MGIC Investment (MTG) Tops Q2 EPS by 4c, Revenues Miss

July 23, 2019 6:49 AM EDT

MGIC Investment (NYSE: MTG) reported Q2 EPS of $0.46, $0.04 better than the analyst estimate of $0.42. Revenue for the quarter came in at $292.3 million versus the consensus estimate of $295.23 million.

Second Quarter Summary

New Insurance Written of $14.9 billion, compared to $13.2 billion in the second quarter of 2018.Insurance in force of $213.9 billion at June 30, 2019 increased by 1.2% during the quarter and 6.6% compared to June 30, 2018.Primary delinquency inventory of 29,795 loans at June 30, 2019 decreased from 32,898 loans at December 31, 2018. Our primary delinquency inventory declined 17.3% year-over-year from 36,037 loans at June 30, 2018.Insurance written in 2008 and before accounted for... More