EarningsQ2 2026 Earnings Report
CH:RAG Q2 2026 EPS Results
Actual EPSCHF0.95
Consensus EPSCHF1.11
Beat/MissMissed by -CHF0.16
One Year Ago EPSCHF0.84
CH:RAG Q2 2026 Revenue Results
Actual RevenueCHF478.93M
Expected RevenueCHF463.59M
Beat/MissBeat by +CHF15.34M
YoY Revenue Growth+80.80%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
CH:RAG Upcoming Earnings
Radian Group's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
CH:RAG Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a largely positive picture driven by the successful integration of the specialty acquisition, substantial revenue and premium growth (+93% revenue, +116% net earned premiums), strong mortgage insurance fundamentals (record $284B in-force, improved persistency and favorable cure trends), rising investment income, solid capital generation and active capital returns (repurchases and dividends). Near-term challenges center on a softening specialty market, elevated combined ratios influenced by a ~ $30M Middle East reserve and expected margin compression (combined ratios drifting from mid/high‑80s to low‑90s), plus seasonal and transaction-related expense items. On balance, the operational and capital positives — including upgraded dividend guidance from Rating Guaranty to at least $650M and aggressive buybacks — materially outweigh the headwinds, though volatility in specialty underwriting and reserving warrants monitoring.Company Guidance
Major Revenue and Premium Growth Driven by Acquisition
Total revenues increased 93% year-over-year to $575 million; net earned premiums increased 116% year-over-year to $504 million, reflecting the contribution from the acquired specialty business (Inigo/Intego).
Strong Mortgage Insurance Performance
Mortgage new insurance written rose 14% year-over-year to $16.3 billion; mortgage insurance in-force reached a record $284 billion (up 3% year-over-year); persistency improved to 82%; cure activity remained strong with cures exceeding new defaults and approximately 12,400 new defaults in the quarter (down 9% sequentially).
Improved Earnings and Return Metrics
Adjusted net operating earnings per share grew to $1.14 (year-over-year growth noted) with adjusted net operating return on equity of 13%; GAAP net income from continuing operations was $0.87 per share with a GAAP ROE of 10%.
Book Value and Investment Income Growth
Book value per share increased 8.5% year-over-year to $36; net investment income rose 21% year-over-year to $75 million this quarter, supported by a $7.1 billion diversified, highly rated investment portfolio including Inigo's assets.
Specialty Segment Scale and Contribution
Specialty business represented ~50% of total revenues and ~53% of total net premiums earned in the quarter; specialty net premiums earned were $267 million, up 9% year-over-year — showing meaningful diversification and contribution from the newly integrated specialty platform.
Capital Return and Repurchase Activity
Radian repurchased $76 million of common stock in Q2 (2.2 million shares) and $176 million year-to-date (5.0 million shares); company expects full-year share repurchases toward the upper end of prior $200M–$250M guidance. Quarterly dividend paid totaled $37 million.
Strong Capital and Liquidity Position
Rating Guaranty paid a $200 million dividend to Radian Group in Q2; PMIERs cushion was $1.5 billion, well above the required level; holding company liquidity increased to $412 million; repaid $75 million of revolver draw, reducing holding company leverage to 19%.
Progress on Strategic Transformation and Divestitures
Completed Intego/Inigo acquisition integration, sold real estate services business, entered definitive agreement to sell title business, exited mortgage conduit business; returned $127 million of capital from entities held for sale and reduced carrying value of those entities to $35 million.
CH:RAG 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