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Dec 31, 2021
Radian Q4 2021 Earnings Report
Radian's Q4 2021 earnings were announced, with net income of $193.4 million and diluted earnings per share of $1.07.
Key Takeaways
Radian Group Inc. reported a net income of $193.4 million, or $1.07 per diluted share, for the quarter ended December 31, 2021. This is compared to a net income of $148.0 million, or $0.76 per diluted share, for the quarter ended December 31, 2020.
The company reported fourth quarter GAAP net income of $193 million, or $1.07 per diluted share.
MI New Insurance Written (NIW) reached $92 billion for 2021.
Homegenius revenues increased 45% in 2021, totaling $149 million.
Provision for losses in Q4 2021 was $(46.2) million, favorably impacted by positive development on prior period defaults.
Forward Guidance
Radian increased their quarterly dividend and announced a new share repurchase authorization, demonstrating confidence in their financial position and capital flexibility.
Positive Outlook
- Increased quarterly dividend by 43% from $0.14 to $0.20 per share.
- Authorized a new $400 million share repurchase program expiring in February 2024.
- Plan to utilize a value-based Rule 10b5-1 plan to execute the share repurchase authorization.
- Strategic capital actions are based on the company's strong financial position.
- The company's team is focused on Radian's mission of ensuring affordable, sustainable and equitable homeownership.
Challenges Ahead
- The COVID-19 pandemic has created periods of significant economic disruption.
- Changes in economic conditions that impact the size of the insurable mortgage market, the credit performance of our insured mortgage portfolio and our business prospects
- Changes in the charters or business practices of, or rules or regulations imposed by or applicable to, the GSEs or loans purchased by the GSEs
Historical Earnings Impact
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Avg. Return Before/After Earnings
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