Financial Data and Key Metrics Changes - For the fourth quarter of 2023, the company reported net income of $175 million, compared to $147 million a year ago, and earnings per diluted share of $1.64, up from $1.37 in the same quarter last year [51][45] - The U.S. Mortgage Insurance Portfolio ended 2023 with Insurance In-Force of $239.1 billion, an increase of $12 billion or 5% compared to $227.1 billion at December 31, 2022 [15][67] - The net premium yield for the fourth quarter of 2023 was $246 million, which included premiums earned from third-party business and title operations [16] Business Line Data and Key Metrics Changes - The company’s title operations incurred a pre-tax loss of approximately $4 million in the fourth quarter, similar to the previous quarter [69] - The net provision for losses was approximately $32 million for the full year 2023, with new defaults offset by favorable reserve development [19] Market Data and Key Metrics Changes - The default rate on the U.S. Mortgage Insurance Portfolio was 1.8%, up 18 basis points from 1.62% at September 30, 2023 [42] - Persistency at December 31, 2023, increased to 86.9%, compared to 86.6% at the end of the third quarter [15] Company Strategy and Development Direction - The company remains focused on supporting customers while expanding its franchise, successfully activating 108 new customers during 2023 [68] - The company’s strategy includes a diversified and programmatic reinsurance approach, with approximately 93% of the portfolio reinsured by year-end 2023 [37] Management's Comments on Operating Environment and Future Outlook - Management expressed a constructive long-term outlook for housing, citing supply and demand imbalances and favorable demographic trends as foundational support for home prices [50] - The company is well-positioned for various economic scenarios, emphasizing that credit quality drives long-term performance rather than interest rates [6][66] Other Important Information - The company repurchased approximately 1.5 million shares for $66 million in 2023 and announced a 12% increase in its quarterly dividend to $0.28 per share [12][13] - The effective tax rate for the full year 2023 was 15.4%, with an estimated rate of approximately 15.5% for 2024 [21] Q&A Session Summary Question: What are the best and worst scenarios for the company moving forward? - Management indicated that credit quality is the primary concern, with a focus on maintaining strong employment levels to support performance [5][40] Question: Why was the cure rate lower this quarter? - Management noted that the decline in the cure rate was influenced by the end of frictionless forbearance, which had previously allowed borrowers to delay payments [32][70] Question: How are recent vintages performing compared to historical vintages? - Management highlighted that the average FICO score of the Insurance In-Force is strong at 746, indicating good credit quality across the portfolio [80]

Essent Group (ESNT) came out with quarterly earnings of $1.64 per share, beating the Zacks Consensus Estimate of $1.59 per share. This compares to earnings of $1.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.14%. A quarter ago, it was expected that this mortgage insurance and reinsurance holding company would post earnings of $1.57 per share when it actually produced earnings of $1.66, delivering a surprise of 5.73%.Ove ...

HAMILTON, Bermuda--(BUSINESS WIRE)--Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended December 31, 2023 of $175.4 million or $1.64 per diluted share, compared to $147.4 million or $1.37 per diluted share for the quarter ended December 31, 2022. For the full year 2023, net income was $696.4 million or $6.50 per diluted share, compared to $831.4 million or $7.72 per diluted share for 2022. Essent also announced today that its Board of Directors has declared a quarterly cash divid ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Essent Group (ESNT) reports results for the quarter ended December 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 9, 2024, might help the stock move higher if these key numbers are better than ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36157 ESSENT GROUP LTD. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...

Essent Group Ltd. (NYSE:ESNT) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET Company Participants Philip Stefano - Vice President-Investor Relations Mark Casale - Chairman & Chief Executive Officer David Weinstock - Chief Financial Officer Chris Curran - President-Essent Guaranty Conference Call Participants Bose George - Keefe, Bruyette, & Woods, Inc. Mihir Bhatia - BofA Securities Richard Shane - JPMorgan Eric Hagen - BTIG Operator Thank you for standing by. My name is Adam, and I'll be yo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36157 ESSENT GROUP LTD. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

Essent Group Ltd. (NYSE:ESNT) Q2 2023 Results Conference Call August 4, 0000 2:00 AM ET Company Participants Phil Stefano - Vice President-Investor Relations Mark Casale - Chairman & Chief Executive Officer David Weinstock - Chief Financial Officer Chris Curran - President-Essent Guaranty Conference Call Participants Mihir Bhatia - Bank of America Rick Shane - JPMorgan Bose George - KBW Doug Harter - Credit Suisse Eric Hagen - BTIG Geoffrey Dunn - Dowling & Partners Operator Good morning. My name is Rob, an ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36157 ESSENT GROUP LTD. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporatio ...

Essent Group Ltd. (NYSE:ESNT) Q1 2023 Earnings Conference Call May 5, 2023 10:00 AM ET Company Participants Phil Stefano - Vice President-Investor Relations Mark Casale - Chairman & Chief Executive Officer David Weinstock - Chief Financial Officer Chris Curran - President-Essent Guaranty Conference Call Participants Mark DeVries - Barclays Bose George - KBW Mihir Bhatia - Bank of America Geoffrey Dunn - Dowling & Partners Doug Harter - Credit Suisse Roland Mayer - RBC Capital Markets Eric Hagen - BTIG Opera ...