MTG - MGIC Investment Non-GAAP EPS of $0.64 beats by $0.06 revenue of $296.5M in-line

2023-10-31 16:13:36 ET

• MGIC Investment press release ( NYSE: MTG ): Q3 Non-GAAP EPS of $0.64 beats by $0.06 .
• Revenue of $296.5M (+1.3% Y/Y) in-line.
• New insurance written was $14.6 billion, compared with $12.4 billion in the second quarter of 2023 and $19.6 billion in the third quarter of 2022.
• Annual persistency, or the percentage of insurance remaining in force from one year prior, was 86.3% at September 30, 2023, compared with 85.9% at June 30, 2023, and 78.3% at September 30, 2022.
• Insurance in force of $294.3 billion at September 30, 2023, increased by 0.6% during the quarter and by 0.2% compared with September 30, 2022.
• Primary delinquency inventory of 24,720 loans at September 30, 2023, increased from 23,823 loans at June 30, 2023, and decreased from 25,878 loans at September 30, 2022.
• Book value per common share outstanding as of September 30, 2023, increased to $17.37, or 10%, from $15.82 as of December 31, 2022, and 15% from $15.16 as of September 30, 2022.

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