https://assets.capyfin.com/instruments/678fdc13234e27009c5d5a10.png avatar
Essent
🇧🇲 NYSE:ESNT
View Company
OverviewEarningsDividends
•
Jun 30, 2023

Essent Q2 2023 Earnings Report

Essent's financial results for Q2 2023 reflected a high-quality portfolio and resilience in housing and employment.

Key Takeaways

Essent Group Ltd. reported a net income of $172.2 million for the quarter ended June 30, 2023, or $1.61 per diluted share. The company's Board of Directors has declared a quarterly cash dividend of $0.25 per common share.

New insurance written for the second quarter of 2023 was $13.5 billion.

Insurance in force as of June 30, 2023 was $235.6 billion.

The combined ratio for the second quarter of 2023 was 20.4%.

Essent successfully executed a consent and tender process on $637 million of outstanding notes from two seasoned ILN deals.

Total Revenue
$260M
Previous year: $244M
+6.4%
EPS
$1.61
Previous year: $2.16
-25.5%
Expense Ratio
19.8%
Previous year: 19.8%
+0.0%
Combined Ratio
20.4%
Previous year: -16.2%
-225.9%
New Insurance Written
$13.5B
Previous year: $20.1B
-32.8%
Gross Profit
$223M
Previous year: $201M
+11.1%
Cash and Equivalents
$68.1M
Previous year: $77.9M
-12.5%
Free Cash Flow
$167M
Previous year: $62.3M
+168.4%
Total Assets
$5.98B
Previous year: $5.52B
+8.4%

Essent

Essent

Essent Revenue by Segment

Forward Guidance

This press release may include “forward-looking statements” which are subject to known and unknown risks and uncertainties, many of which may be beyond our control.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Essent