Essent Group Ltd. (ESNT) revealed earnings for first quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at $175.433 million, or $1.69 per share. This compares with $181.719 million, or $1.70 per share, last year.
Analysts on average had expected the company to earn $1.65 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 6.4% to $317.558 million from $298.357 million last year.
Essent Group Ltd. earnings at a glance (GAAP) :
-Earnings: $175.433 Mln. vs. $181.719 Mln. last year.
-EPS: $1.69 vs. $1.70 last year.
-Revenue: $317.558 Mln vs. $298.357 Mln last year.
For the first quarter, the company posted net premiums earned of $245.848 million, higher than $245.590 million, recorded for the same period last year.
Essent will pay a quarterly cash dividend of $0.31 per share on June 10, to shareholders of record as of May 30.
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