ACT earnings analysis
What we found in ACT's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Enact Holdings (ACT) reported Q1 2026 results with total revenue of $312 million, growing 2% year-over-year, and matching EPS at $1.21. The company experienced notable shifts in segments, including a significant 30% year-over-year increase in new insurance written at $12.8 billion, amidst a challenging macroeconomic environment with rising inflation and volatility in mortgage rates.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 2% YoY
- Total revenue reached $312 million, up from $306.8 million in Q1 2025.
- EPS Matches Expectations
- Diluted EPS was reported at $1.21, aligning perfectly with consensus estimates.
- Strong Increase in New Insurance Written
- New insurance written hit $12.8 billion, increasing by 30% compared to Q1 2025.
- Net Investment Income Up 12%
- Net investment income rose by $7.9 million to $70.9 million year-over-year.
- Operating Cash Flow Remains Strong
- Net cash from operating activities was $224 million, nearly flat compared to $227 million in Q1 2025.
- Return of Capital Initiatives
- The Q1 2026 dividend was increased to $0.24 per share, up from $0.21 per share.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Higher Loss Ratio
- The loss ratio increased to 15% in Q1 2026 from 12% in Q1 2025, indicating higher claims.
- Mortgage Rate Volatility Risk
- The persistency rate dropped to 80% from 84% due to mortgage rate volatility and refinancing activity.
- Investment Losses
- Net investment losses were recorded at $5.8 million for Q1 2026, up from $3.2 million in Q1 2025.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.21
- Segment
- New Insurance Written: $12.8 billion (up 30% YoY)
What they said about what is next.
No specific numeric guidance provided.
The filing reads better than the one before it.
What came before.
- 10-K · February 27, 2026
- Enact Holdings (ACT) presents a stable, scale-focused mortgage insurance franchise with $51.5B of new insurance written in 2025 and a broadly diversified 1,600-customer base. Earnings remained solid but showed modest…
- 10-Q · November 6, 2025
- Enact (ACT) reported Q3 revenues of $311,455,000 (311,455 in filing thousands), up modestly from $309,588 (thousands) in Q3 2024, while diluted EPS declined to $1.10 from $1.15 year-over-year. Losses incurred rose…
- 10-Q · November 7, 2024
- Enact reported Q3 2024 revenue of $309,588,000 and diluted EPS of $1.15, both up versus the prior-year quarter. Net income rose to $180,669,000 and operating cash flow remains strong ($520,132,000 YTD), while…
- 10-Q · May 3, 2024
- Enact reported quarterly revenue of $291.6M (three months ended March 31, 2024) versus $280.9M a year ago, driven by higher premiums and stronger net investment income; however, net income fell to $160.99M from $175.99M…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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