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…
Earnings analysis · 10-Q
ESNT earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
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
- $2.08
What stood out
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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.
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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%.
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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.
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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.
What to watch
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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%.
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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.
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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.
Management's outlook
The 10-Q does not provide numeric revenue or EPS guidance; management's outlook was not quantified in the supplied filing text.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.