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Dec 31, 2024
Radian Q4 2024 Earnings Report
Radian reported a strong fourth quarter and full year 2024 financial performance, with increased net income and record primary mortgage insurance in force.
Key Takeaways
Radian Group Inc. announced net income of $148 million for the fourth quarter of 2024, or $0.98 per diluted share, and a full year net income of $604 million, or $3.92 per diluted share. The company's primary mortgage insurance in force reached an all-time high of $275.1 billion.
Fourth quarter net income was $148 million, or $0.98 per diluted share, compared to $143 million, or $0.91 per diluted share in Q4 2023.
Full year net income reached $604 million, or $3.92 per diluted share, up from $603 million, or $3.77 per diluted share in FY 2023.
Adjusted pretax operating income for Q4 2024 was $209 million, an increase from $192 million in Q4 2023.
Primary mortgage insurance in force grew to a record $275.1 billion as of December 31, 2024.
Radian
Radian
Radian Revenue by Segment
Revenue by Segment
Mortgage Insurance Revenue
CapyFin.comAll Other Segment Revenue
CapyFin.com Forward Guidance
Radian's forward-looking statements indicate a focus on maintaining capital adequacy, managing market risks, and adapting to regulatory changes, while continuing to execute business strategies and return value to stockholders.
Positive Outlook
- Ability to maintain adequate capital levels in insurance subsidiaries to meet regulatory requirements.
- Successful execution of capital plans, including risk distribution strategies.
- Maintenance of sufficient holding company liquidity.
- Continued focus on managing expenses and optimizing investment portfolio performance.
- Commitment to returning value to stockholders through dividends and share repurchases.
Challenges Ahead
- Potential impacts from changes in the U.S. housing market and economic conditions, including inflationary pressures and interest rates.
- Risks associated with changes in customer, investor, ratings agency, regulator, or legislator perceptions of performance.
- Challenges in maintaining eligibility under PMIERs and adapting to changes in GSE requirements.
- Uncertainties related to the current housing finance system and the roles of various market participants.
- Risks from new business lines, technologies, and potential impacts from political and geopolitical events.