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MGIC Investment reports Q1 non-GAAP EPS 65c, consensus 60c

Reports Q1 revenue $294.36M, consensus $300.51M. CEO Tim Mattke said, “We began the year with a solid quarter generating net income of $174M, delivering a return on equity of 13.7%, and increasing book value per share by 14.5% year-over-year while returning meaningful capital to our shareholders. We continue to benefit from favorable credit trends and the resiliency of the housing market. We remain confident in our position in the market and ability to execute our business strategies.”

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