MGIC Investment (MTG) Tops Q1 EPS by 1c, Revenues Beat

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MGIC Investment Corporation Reports First Quarter 2020 Results

May 7, 2020 6:00 PM EDT

MILWAUKEE, May 7, 2020 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today reported operating and financial results for the first quarter of 2020. Net income for the quarter was $149.8 million, or $0.42 per diluted share, compared with net income of $151.9 million, or $0.42 per diluted share, for the first quarter of 2019.

Adjusted net operating income for the first quarter of 2020 was $147.5 million, or $0.42 per diluted share, compared with $152.4 million, or $0.42 per diluted share, for the first quarter of 2019. We present the non-GAAP financial measure "Adjusted net operating income" to increase the comparability between periods of... More