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Dec 31, 2024
NMI Holdings Q4 2024 Earnings Report
NMI Holdings reported its financial results for the fourth quarter and full year ended December 31, 2024, and announced an additional $250 million share repurchase authorization.
Key Takeaways
NMI Holdings, Inc. reported a net income of $86.2 million for Q4 2024, with diluted EPS of $1.07. The company achieved strong operating performance, significant new insurance written volume, and consistent growth in its insured portfolio, leading to record financial results and a 17.4% return on equity for the full year.
Net income for Q4 2024 was $86.2 million, with diluted EPS of $1.07.
Primary insurance-in-force grew to $210.2 billion at quarter end, up 7% year-over-year.
The company's Board of Directors authorized an additional $250 million share repurchase plan effective through December 31, 2027.
Total revenue for Q4 2024 was $166.5 million, an increase from $151.4 million in Q4 2023.
NMI Holdings
NMI Holdings
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CapyFin.comRevenue by Geographic Location
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CapyFin.com Forward Guidance
NMI Holdings is well-positioned for continued differentiated growth, returns, and shareholder value, supported by a strong customer franchise, talented team, high-quality book, comprehensive risk transfer solutions, and a robust balance sheet. The incremental share repurchase authorization further enhances value access for investors.
Positive Outlook
- Strong operating performance and consistent growth in insured portfolio.
- Record financial results and a high return on equity (17.4% for FY 2024).
- Robust balance sheet supported by significant earnings power.
- Additional $250 million share repurchase authorization provides further ability to access value.
- Well-positioned to continue delivering differentiated growth and returns.
Challenges Ahead
- Potential impacts from changes in general economic, market, and political conditions (e.g., interest rates, inflation).
- Risks related to geopolitical instability and economic downturns affecting the housing market.
- Changes in GSEs' charters, business practices, or housing policy objectives could impact business.
- Regulatory changes or enforcement actions could result in adverse judgments or significant expenditures.
- Failure to attract and retain a diverse customer base or implement business strategy successfully.