ESNT earnings analysis
What we found in ESNT'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
Essent Group reported a strong Q2 2026, with revenue of $362.686 million and diluted EPS of $2.08, representing increases versus both Q1 2026 and Q2 2025. EPS exceeded the $1.78 consensus estimate by 16.9%, while the company continued substantial capital returns through $191.4 million of share repurchases. The filing provides no numeric forward guidance and states that there were no material changes to the risk factors from the 2025 10-K; investment-market sensitivity remains notable at 3.8% for a 100-basis-point rate shift.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Increased Sequentially and Year Over Year
- Q2 2026 revenue was $362.686 million, up 7.9% from $336.1 million in Q1 2026 and 45.7% from $249 million in Q2 2025.
- EPS Beat Estimates and Prior-Year Level
- Diluted EPS was $2.08, up from $1.82 in Q1 2026 and $1.93 in Q2 2025; EPS exceeded the $1.78 consensus estimate by $0.30, or 16.9%.
- Significant Share Repurchases
- The company repurchased 3,232,602 common shares during Q2 2026 for a total cost of $191.4 million, with $223.3 million remaining under the November 2025 authorization at June 30, 2026.
- Market-Risk Exposure Quantified
- Investment portfolio interest-rate sensitivity was quantified at 3.8% for a 100-basis-point parallel yield-curve shift, or 4.3% excluding short-term investments, as of June 30, 2026.
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.
- Interest-Rate and Portfolio Valuation Risk
- The investment portfolio's effective duration was 3.8 years at June 30, 2026, implying a 3.8% fair-value change for an instantaneous 100-basis-point parallel yield-curve shift; excluding short-term investments, the sensitivity was 4.3%.
- Investment Portfolio Credit and Concentration Risk
- Management stated that there were no material changes to risk factors from the December 31, 2025 Annual Report, but the filing continues to identify market volatility, credit-quality deterioration and concentration risk as potential threats to investment values and liquidity.
- Capital Allocation and Liquidity Risk
- Share repurchases consumed $191.4 million in Q2 2026, while $223.3 million remained available under the authorization at June 30, 2026; continued repurchases could reduce cash available for operations, claims and other capital needs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.08
What they said about what is next.
The 10-Q does not provide numeric revenue or EPS guidance; management's outlook was not quantified in the supplied filing text.
The filing reads better than the one before it.
What came before.
- 10-Q · May 8, 2026
- Essent Group Ltd. delivered a strong Q1 2026 performance, with revenues reaching $336.1 million, up from $317.6 million year-over-year, and EPS being reported at $1.82, surpassing estimates. However, the company faced a…
- 10-K · February 18, 2026
- Essent reports stable core mortgage insurance volumes with NIW of $46.6 billion in 2025 and roughly $248.4 billion of insurance in force as of December 31, 2025. Management separated Reinsurance as its own reportable…
- 10-Q · August 8, 2023
- Essent reported Q2 2023 revenue of $260.128M and diluted EPS of $1.61, both above consensus. Revenue grew versus the year-ago quarter (up $15.719M, +6.4%) but net income and EPS declined versus the prior year (net…
- 10-Q · November 8, 2022
- Essent reported Q3 2022 revenue of $261.8M and diluted EPS of $1.66. Revenue declined from $283.5M in the prior-year quarter (down $21.8M, -7.7%) and EPS declined from $1.84, but pre-tax operating income remained strong…
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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