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Enact Holdings (ACT)
NASDAQ:ACT
Holding ACT?
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.04Last Year’s EPS
$0.98Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -3.32%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong performance with significant financial growth, robust insurance in force, and successful expansion into adjacent markets. However, challenges such as rising delinquencies, the impact of recent hurricanes, and a decline in new insurance written were noted.Company Guidance
During the third quarter 2024 earnings call for Enact, the company provided detailed guidance and insights into their performance metrics. The company reported an adjusted operating income of $182 million, reflecting an 11% year-over-year increase. Adjusted earnings per share (EPS) stood at $1.16, and the adjusted return on equity was 15%. The company's insurance in force reached a record $268 billion, with 70% of the portfolio having mortgage rates below 6%. Persistency was maintained at 83%, and new insurance written was approximately $14 billion. The company also highlighted a $65 million reserve release due to favorable credit performance. Enact's capital position remained robust, with a PMIER sufficiency of 173% and $2.2 billion of sufficiency. Additionally, the company returned $100 million to shareholders through share buybacks and dividends in the third quarter, aiming to be within the upper half of their $300 million to $350 million guidance range for 2024.Strong Financial Performance
Adjusted operating income of $182 million, up 11% year-over-year. Adjusted EPS was $1.16, and adjusted return on equity was 15%. Adjusted book value per share increased to $33.27, up 3% sequentially and 10% year-over-year.
Robust Insurance in Force
Record insurance in force of $268 billion, with 70% of the portfolio having mortgage rates below 6%.
Capital Returns to Shareholders
Returned $100 million through share buybacks and dividends in Q3, with a total of $283 million returned to shareholders year-to-date, positioning the company in the upper half of the $300 million to $350 million guidance range for 2024.
Successful Expansion of Enact Re
Enact Re received an A- rating from S&P, demonstrating successful launch and strong underwriting standards.
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ACT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ACT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $33.84 | $33.29 | -1.63% |
| Jul 31, 2024 | $33.67 | $33.13 | -1.60% |
| May 01, 2024 | $29.50 | $29.49 | -0.03% |
| Feb 06, 2024 | $27.17 | $25.85 | -4.86% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Enact Holdings (ACT) report earnings?
Enact Holdings (ACT) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Enact Holdings (ACT) earnings time?
Enact Holdings (ACT) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ACT EPS forecast?
ACT EPS forecast for the fiscal quarter 2024 (Q4) is $1.04.
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