Essent Group Reports Q3 2026 Net Income of $163.4 Million and Increases Share Repurchase Authorization
Essent Group (ESNT) reported third-quarter 2026 financial results characterized by steady credit performance despite a slight increase in the portfolio default rate to 2.75%. The company achieved diluted earnings per share of $1.82, up from $1.67 in the prior year's third quarter. While insurance in force grew slightly to $250.1 billion, management noted that mortgage affordability constraints continue to mute overall portfolio growth. The company maintains a strong capital position with total cash and investments of $6.48 billion and a PMIERs sufficiency ratio of 177%. To drive shareholder value, the Board approved a new $500 million share repurchase authorization through year-end 2028. Despite rising loan amounts impacting loss provisions, Essent continues to maintain a high-quality credit profile with a weighted average credit score of 747.
Tickers: $ESNT
Topics: Credit Performance EPS Mortgage Insurance Net Income