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Investing.com - Essent Group Ltd. (NYSE:ESNT) on Friday reported third quarter net income of $164.2 million or $1.67 per diluted share, falling short of analyst expectations of $1.77 per share. Revenue came in at $311.83 million, below the consensus estimate of $315.73 million.
The mortgage insurance provider’s earnings declined from $176.2 million or $1.65 per diluted share in the same quarter last year, despite a higher earnings per share due to share repurchases.
The company’s performance was impacted by a higher provision for losses and loss adjustment expenses, which increased to $44.9 million from $30.7 million in the year-ago quarter.
"We are pleased with our third quarter results, which again demonstrate the strength and resilience of our business model," said Mark A. Casale, Chairman and Chief Executive Officer.
"Our performance was driven by continued favorable credit trends and the benefits of the current interest rate environment on both portfolio persistency and investment income."
New insurance written for the quarter was $12.2 billion, down slightly from $12.5 billion in both the previous quarter and the third quarter of 2024. Insurance in force as of September 30, 2025, stood at $248.8 billion, compared to $246.8 billion at the end of June 2025 and $243.0 billion a year earlier.
The company maintained strong capital management, repurchasing 8.7 million common shares for $501 million year-to-date through October 31. The Board also approved a new $500 million share repurchase authorization running through the end of 2027.
Essent’s Board declared a quarterly cash dividend of $0.31 per common share, payable on December 10, 2025, to shareholders of record on December 1, 2025.
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