EarningsQ2 2026 Earnings Report
MX:ACGLN Q2 2026 EPS Results
Actual EPS$46.49
Consensus EPS$44.78
Beat/MissBeat by +$1.71
One Year Ago EPS$46.85
MX:ACGLN Q2 2026 Revenue Results
Actual Revenue$81.21B
Expected Revenue$79.14B
Beat/MissBeat by +$2.08B
YoY Revenue Growth-11.46%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeAfter Close
Conference CallTuesday, July 28, 2026
MX:ACGLN Upcoming Earnings
Arch Capital Group's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:ACGLN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced notable operational and financial strengths against meaningful market and underwriting headwinds. Highlights include strong operating earnings ($893M), robust investment and equity-method returns ($613M combined pre-tax), very strong cash flow ($1.3B), disciplined capital returns ( $1.2B repurchased in the quarter; $1.95B H1), solid mortgage results (underwriting income $220M; U.S. MI delinquency 2.1%), and conservative leverage (18.1%). Offsetting these positives are signs of a softening market with increased competition and rate compression (property mid-teens mid-year declines), declines in net premiums written (insurance -5.1%, reinsurance ~-10%), rising ex-cat combined ratios (group 82.5%, +160 bps YoY), and tangible catastrophe/geopolitical losses (Iran-related losses and $201M current-quarter cat losses net). Overall, management presents confidence in the diversified model and capital approach but acknowledges a more competitive environment that will require disciplined underwriting and selective capital deployment.Company Guidance
Strong Quarterly Earnings and EPS
After-tax operating income of $893 million and operating EPS of $2.56 for the quarter, driven by solid underwriting across segments and favorable prior-year development.
Aggressive Share Repurchases and Capital Return
Repurchased 12.4 million shares at an aggregate cost of $1.2 billion in the quarter (total $1.95 billion for H1), representing ~94% of H1 net income returned via buybacks.
Book Value and Cash Flow Strength
Book value per share grew 2.8% in the quarter and 4.5% year-to-date; operating cash flow remained very strong at $1.3 billion for the quarter.
Reinsurance Underwriting Outperformance
Reinsurance generated $410 million of underwriting income in the quarter with a current accident-year ex-cat combined ratio of 79.9% (despite a 270 bps YoY increase driven by mix and lower property pricing).
Mortgage Insurance Delivered Consistent Results
Mortgage segment produced $220 million of underwriting income; U.S. MI portfolio delinquency rate remained stable at 2.1% and favorable reserve development continued (though slowed versus prior quarters).
Strong Investment and Equity-Method Contributions
Net investment income contributed $417 million (~$1.20 per share); investments accounted for using equity method added $196 million (~$0.56 per share). Combined pre-tax investment contribution was $613 million (~$1.76 per share), up from $1.57 per share last quarter.
Favorable Prior-Year Reserve Development
Recognized $165 million of favorable prior-year development pre-tax in the quarter, equivalent to ~4.1 points on the overall combined ratio and observed across all three segments.
Conservative Balance Sheet Metrics and Liquidity Actions
Raised $2.0 billion of 10- and 30-year senior notes in May, debt-plus-preferred-to-capital leverage of 18.1%, and peak zone 1-in-250-year PML on a net basis of $1.8 billion (~8% of tangible shareholders' equity).
MX:ACGLN 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