NASDAQ$ACT

Enact Holdings Inc · Q3 2024 earnings

Q3 2024 earnings · · Investor relations

Briefing

Enact reported strong results driven by effective strategies and careful management.

Enact Holdings reported a net income of $181 million, or $1.15 per diluted share, and an adjusted operating income of $182 million, or $1.16 per diluted share. The company's insurance-in-force reached a new peak, and strong bottom-line performance fueled the ability to deliver for policyholders, invest in the business, and return capital to shareholders.

  • Net income was $181 million, or $1.15 per diluted share.
  • Adjusted operating income was $182 million, or $1.16 per diluted share.
  • New insurance written (NIW) was approximately $14 billion.
  • Primary insurance in-force was a record $268 billion.

Headline financials

Total Revenue

$310M

Previous: $299M+3.5%
EPS (adj)

$1.16

Previous: $1.02+13.7%
New Insurance Written (NIW)

$14B

Previous: $14B+0.0%
Primary Insurance In-Force (IIF)

$268B

Previous: $262B+2.3%
Primary Persistency Rate

83.0%

Previous: 84.0%-1.2%
Loss Ratio

5.0%

No prior period
Expense Ratio

22.0%

No prior period
PMIERs Sufficiency Amount

$2.19B

No prior period
PMIERs Sufficiency Ratio

173.0%

No prior period
GAAP Return on Equity

14.7%

No prior period
Adjusted Operating ROE

14.8%

No prior period
Book Value Per Share

$32.61

No prior period
Book Value Per Share Excl. AOCI

$33.27

No prior period
Debt to Capital Ratio

13.0%

No prior period
Capital Expenditures

$0.00

No prior period
Net Income

$181M

Previous: $164M+10.2%
Operating Income

$182M

Previous: $164M+11.0%
Gross Profit

$310M

Previous: $299M+3.5%
Stock-Based Comp

$6.45M

Previous: $4.11M+56.9%

Revenue & EPS history

Enact · Revenue · Quarterly

$310M

Q3 2024+3.5%vs Q3 2023
Beat estimate in 6 of 13 quarters(46%)
ActualEstimate

Revenue by segment

Enact · $278M total across 2 segments · Q4 2022

  • Premiums
    $233M-1.8%
  • Net Investment Income
    $44.9M+28.3%

Forward guidance

Enact anticipates full year capital return at the higher end of its previously announced range of between $300 and $350 million, the final amount and form of capital returned to shareholders will ultimately depend on business performance, market conditions, and regulatory approvals.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2024

Historical avgQ3 2024

+0.2%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+1.8%

Avg return

30 days after

61%

14 / 23 earnings

Positive

+8.9%

Q4 2025

Best reaction

-8.3%

Q4 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.3%+1.3%-1.3%
Q4 2025+8.9%+5.1%+2.8%
Q3 2025+2.2%+4.7%+5.7%
Q2 2025+1.0%+4.3%+9.4%
Q1 2025+2.2%+1.3%-1.1%
Q4 2024+1.5%+1.0%+1.4%
Q3 2024+2.1%+5.2%+7.0%
Q1 2024+0.9%+5.3%+3.3%
Q4 2023-4.6%-2.1%+3.2%
Q3 2023+1.2%+1.4%+1.2%
Q2 2023+3.6%+6.6%+5.4%
Q1 2023-7.7%-0.8%+4.9%
Q4 2022-8.3%-3.0%-2.4%
Q3 2022+1.8%+0.4%-3.3%
Q2 2021+4.5%+3.9%-1.0%
Q2 2022+7.9%+12.8%+6.2%
Q1 2021-4.4%-8.9%+2.4%
Q1 2022+5.8%+1.2%+7.1%
Q4 2020-5.1%-4.7%+6.1%
Q4 2019-5.1%-4.7%+6.1%
Q4 2021-1.1%-3.8%-5.6%
Q3 2020-0.6%-3.9%-9.4%
Q3 2021+1.1%+0.6%-7.5%
Q2 2020
Q1 2020
Q3 2019
Q2 2019
Q1 2019
Q1 2015
Q4 2014

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