AGO earnings analysis
What we found in AGO'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
Assured Guaranty Ltd. reported strong Q1 2026 results, with revenues of $261 million and diluted EPS of $2.50, significantly beating both estimates and last year's figures. The Financial Guaranty segment drove a notable 32% revenue growth year-over-year, reflecting strong demand for its insurance products amid favorable economic conditions. However, challenges include mounting foreign exchange losses and economic uncertainties that could impact future performance.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Growth
- Q1 2026 revenue reached $261 million, up 32% from $197 million in Q1 2025.
- EPS Significantly Beats Estimates
- Reported diluted EPS was $2.50, exceeding consensus estimate expectations of $1.60.
- Financial Guaranty Segment Growth
- Financial Guaranty segment adjusted operating income rose to $102 million from $168 million year-over-year.
- Return of Capital Ongoing
- The company returned $93 million to shareholders through share buybacks and dividends in the quarter.
- Acquisition Expands Market Opportunities
- Acquired Warwick Company, enabling expansion into the annuity reinsurance market.
- Cumulative Repurchases
- Since 2013, the firm has repurchased $6 billion worth of shares, further strengthening return metrics.
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.
- Unrealized Investment Losses
- Unrealized losses in the investment portfolio totaled $304 million, affecting overall equity.
- Foreign Exchange Impact
- Foreign exchange losses amounted to $18 million, compared to a gain of $33 million last year, affecting profitability.
- Economic Uncertainty Risks
- Geopolitical tensions and inflation pose risks to future revenues and credit defaults.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.5
- Segment
- Financial Guaranty
- Segment
- Annuity Reinsurance
- Segment
- Asset Management
What they said about what is next.
Management did not provide numeric guidance, citing ongoing evaluations of market conditions.
The filing reads better than the one before it.
What came before.
- 10-K · February 27, 2026
- Assured Guaranty emphasizes growing its core financial guaranty insurance business while diversifying through asset management and a new life & annuity reinsurance platform. Reported revenues were higher in 2025 versus…
- 10-Q · August 8, 2025
- Assured Guaranty reported strong quarter with total revenues of $281 million (Q2 2025) versus $202 million in Q2 2024 and net income attributable to AGL of $103 million versus $78 million a year ago. Diluted EPS rose to…
- 10-Q · May 9, 2025
- Assured Guaranty reported a strong Q1 2025 with total revenues of $345 million and diluted EPS of $3.44, materially above prior-year Q1 revenue of $245 million and EPS of $1.89. Results were driven by large fair value…
- 10-K · February 28, 2025
- Assured Guaranty describes a four‑part strategy focused on (i) insurance, (ii) asset management, (iii) alternative investments and (iv) capital management, while continuing to participate in asset management through its…
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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