EarningsQ2 2026 Earnings Report
DE:MGC Q2 2026 EPS Results
Actual EPS€0.78
Consensus EPS€0.68
Beat/MissBeat by +€0.10
One Year Ago EPS€0.73
DE:MGC Q2 2026 Revenue Results
Actual Revenue€263.61M
Expected Revenue€265.52M
Beat/MissMissed by -€1.92M
YoY Revenue Growth-2.91%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
DE:MGC Upcoming Earnings
MGIC Investment's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:MGC Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong profitability, disciplined expense management, meaningful capital flexibility through an expanded reinsurance program, and continued capital returns to shareholders. Credit metrics showed some normalization with a moderate year-over-year rise in delinquencies and slightly lower persistency and premium yields, but management highlighted favorable reserve development, low early payment defaults, and confidence in underwriting. Insurance-in-force growth remains modest given market constraints. Overall, positive operational and capital-management developments outweighed the moderate credit and growth headwinds.Company Guidance
Solid Profitability and ROE
Net income of $182 million in Q2 2026 (EPS $0.86) with an annualized return on equity of 14.5% and EPS up from $0.81 a year ago.
Book Value Growth and Dividend Track Record
Book value per share rose to $24.27, a 10% year-over-year increase. Paid $0.60 per share in dividends over the last 12 months and the board approved a quarterly dividend increase to $0.17 per share (6 consecutive years of increases; 19% CAGR).
New Insurance Written (NIW) Expansion
Wrote $18 billion of new insurance in Q2, up 8.5% versus Q2 2025 and the highest NIW since Q3 2022, driven by seasonal purchase-market growth.
Reinsurance Program Strengthens Capital Efficiency
Reinsurance program reduced PMIERs required assets by $3.1 billion (~52%). Executed an excess-of-loss transaction providing up to $168 million of protection on eligible 2027 NIW, and maintains a multi-pronged program (quota share, XOL, ILN) for capital diversification.
Favorable Reserve Development
Recorded $43 million of favorable loss reserve development in the quarter driven primarily by better-than-expected cure activity on delinquency notices received in 2025.
Expense Discipline and Guidance
Underwriting and other expenses were $46 million in the quarter (down from $52 million YoY). Management now expects full-year operating expenses toward the low end of the $190–$200 million range.
Capital Return Activity
Repurchased 6.6 million shares for $177 million in Q2; prior four-quarter repurchases totaled $746 million and dividends totaled $135 million. Management targets share repurchases approximately equal to net income in this environment.
Investment Income and Portfolio Yield
Investment income totaled $59 million in Q2 with a book yield of ~4%; reinvestment rates continued to exceed the book yield.
DE:MGC 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