- Radian Group (NYSE:RDN +5%) reaches its highest level in more than three months after Q2 EPS of 69 cents beat consensus by a dime.
- Intraday high of $18.80 is the highest since April 6.
- Radian reported a lower-than-expected mortgage insurance provision for losses and better-than-expected net premiums earned, writes BTIG analyst Mark Palmer.
- Q2 adjusted operating income per share of 69 cents compares with 48 cents a year ago.
- Q2 net premiums earned-mortgage insurance rose 9% to $249.0M Y/Y.
- MI new insurance written increased 14% to $16.4M and MI primary insurance in force rose 10% to $210.7M.
- Mortgage insurance provision for losses was $19.4B vs. $37.4M in Q1.
- Book value per share $15.01 vs $14.16 at Q1 end.
- Source: Press Release
- Previously: Radian Group beats by $0.10, beats on net premiums earned - insurance (July 26)