10-Q · May 8, 2026
Radian Group Inc. reported Q1 2026 financial results showing revenue of $238.2 million, considerably below analyst expectations of $381.4 million, leading to an unexpected decline in revenue. However, the company posted…
Earnings analysis · 10-Q
RDN earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
Radian’s Q2 2026 revenue rose to $503.712 million, increasing 8.1% sequentially and 58.4% year over year, but diluted EPS fell to $0.85 from $0.89 in Q1 and missed the $1.36 consensus estimate. The filing provides no…
Read full summary
Radian’s Q2 2026 revenue rose to $503.712 million, increasing 8.1% sequentially and 58.4% year over year, but diluted EPS fell to $0.85 from $0.89 in Q1 and missed the $1.36 consensus estimate. The filing provides no explicit quantitative guidance and states that there were no material changes to the risk factors in the 2025 Form 10-K. The Inigo acquisition adds integration, foreign-currency and reinsurer-credit considerations, although management said the new market risks were not material as of June 30, 2026.
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
- $0.85
What stood out
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Revenue increased sequentially and year over year
Second-quarter revenue was $503.712 million, up $37.712 million, or 8.1%, from $466 million in Q1 2026 and up $185.712 million, or 58.4%, from $318 million in Q2 2025.
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Revenue growth did not translate to EPS growth
Diluted EPS was $0.85, down $0.04, or 4.5%, from $0.89 in Q1 2026 and down $0.17, or 16.7%, from $1.02 in Q2 2025; EPS was also $0.51 below the $1.36 consensus estimate.
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Share repurchases continued
Radian repurchased 2,231,042 shares under publicly announced programs during Q2 2026 and had approximately $736 million of repurchase authority remaining as of June 30, 2026.
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Inigo acquisition expanded platform exposure
The company completed the Inigo acquisition on February 2, 2026, adding foreign-currency and reinsurer-credit exposures that management said were not material as of June 30, 2026.
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Disclosure controls remained effective
Disclosure controls were assessed as effective as of June 30, 2026, including by the CEO and interim CFO.
What to watch
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Acquisition control integration
Management is still integrating Inigo’s processes, systems and control activities after the February 2, 2026 acquisition and expects to exclude Inigo from its annual internal-control assessment for the year ending December 31, 2026.
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New foreign exchange and credit risks
Inigo introduced foreign-currency and reinsurer-credit risk exposures that did not previously exist for Radian; although described as not material as of June 30, 2026, they remain incremental risks.
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Investment-market exposure and earnings pressure
The investment portfolio remains materially exposed to changes in interest rates and credit spreads, while Q2 EPS declined to $0.85 from $0.89 in Q1 2026.
Management's outlook
The filing does not provide explicit quantitative revenue or EPS guidance; no change to prior outlook was disclosed in the supplied text.
Earlier filings 4
10-K · February 20, 2026
Radian’s 2025 results show a company in transition: core mortgage insurance operations remain steady while management accelerated strategic reshape (announced divestitures in Q3 2025) and pursued a transformational…
10-Q · November 6, 2025
Radian’s 10-Q shows a strong balance sheet but operational change: management reclassified Mortgage Conduit, Title and Real Estate Services as held for sale and reiterated the Inigo acquisition plan. Total investments…
10-Q · November 7, 2024
Radian reported Q3 results with diluted EPS of $1.03 (vs. $0.91 consensus) on revenue of $239,133,000 (vs. $240,830,000 consensus), a slight revenue miss (-0.7%) but an EPS beat (+13.2%). Balance sheet changes were…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.