NASDAQ$ACT

Enact Holdings Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Announced financial results for the fourth quarter and full year of 2021.

Enact reported an excellent fourth quarter driven by strong execution of their strategies, the benefits of their competitive position, and supportive industry fundamentals. With over $21 billion of new insurance written, record insurance-in-force, and favorable loss performance.

  • Net income for the fourth quarter of 2021 was $154 million, or $0.94 per diluted share.
  • Adjusted net operating income for the fourth quarter of 2021 was $154 million, or $0.94 per diluted share.
  • New insurance written (NIW) was $21.4 billion.
  • Persistency for the fourth quarter of 2021 was 69%.

Headline financials

Total Revenue

$273M

Previous: $286M-4.4%
EPS (adj)

$0.94

Previous: $0.56+67.9%
New Insurance Written (NIW)

$21.4B

Previous: $27B-20.8%
Primary Persistency Rate

69.0%

Previous: 57.0%+21.1%
Net Income

$154M

Previous: $91.2M+68.9%
Operating Income

$154M

No prior period
Gross Profit

$273M

Previous: $286M-4.4%
Cash & Equivalents

$426M

Previous: $453M-6.0%
Total Assets

$5.87B

Previous: $5.65B+3.8%
Stock-Based Comp

$1.28M

No prior period

Revenue & EPS history

Enact · Revenue · Quarterly

$273M

Q4 2021-4.4%vs Q4 2020
Beat estimate in 4 of 6 quarters(67%)
ActualEstimate

Revenue by segment

Enact · $272M total across 2 segments · Q4 2021

  • Premiums
    $237M
  • Net Investment Income
    $35M

Forward guidance

Looking ahead, market dynamics for our business remain favorable, and we are well positioned to build on our success. Our experienced team, differentiated solutions, strong relationships and approach to risk management and efficiency provide a strong foundation for continued growth and value creation for all of our stakeholders.

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 Q4 2021

Historical avgQ4 2021

+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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