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…
Earnings analysis · 10-Q
ACT earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
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%…
Read full summary
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.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.21
- Segment
- New Insurance Written: $12.8 billion (up 30% YoY)
What stood out
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Revenue Growth of 2% YoY
Total revenue reached $312 million, up from $306.8 million in Q1 2025.
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EPS Matches Expectations
Diluted EPS was reported at $1.21, aligning perfectly with consensus estimates.
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Strong Increase in New Insurance Written
New insurance written hit $12.8 billion, increasing by 30% compared to Q1 2025.
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Net Investment Income Up 12%
Net investment income rose by $7.9 million to $70.9 million year-over-year.
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Operating Cash Flow Remains Strong
Net cash from operating activities was $224 million, nearly flat compared to $227 million in Q1 2025.
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Return of Capital Initiatives
The Q1 2026 dividend was increased to $0.24 per share, up from $0.21 per share.
What to watch
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Higher Loss Ratio
The loss ratio increased to 15% in Q1 2026 from 12% in Q1 2025, indicating higher claims.
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Mortgage Rate Volatility Risk
The persistency rate dropped to 80% from 84% due to mortgage rate volatility and refinancing activity.
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Investment Losses
Net investment losses were recorded at $5.8 million for Q1 2026, up from $3.2 million in Q1 2025.
Management's outlook
No specific numeric guidance provided.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.