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Enact Holdings (ACT)
NASDAQ:ACT
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.18Last Year’s EPS
1.1Same Quarter Last Year
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive tone: strong capital returns (>$500M), record insurance-in-force ($273B), improved credit outcomes (net reserve release $60M and loss ratio down to 7%), stable investment yield improvement, and robust capital metrics (PMIERs 162%). Offsetting items are modest: persistency softened (80%), sequentially higher delinquencies, a small YoY decline in full-year adjusted operating income (~4.2%), and a Q4 uptick in operating expenses. Management reiterated disciplined capital allocation, a new $500M repurchase authorization, and confidence in 2026 capital returns (~$500M) while noting macro and regulatory uncertainty. Overall, positives materially outweigh the listed headwinds.Company Guidance
Strong Q4 and Full-Year Earnings
Q4 adjusted operating income of $179 million ($1.23 per diluted share) and full-year adjusted operating income of $688 million ($4.61 per diluted share). Q4 adjusted operating EPS increased vs. prior-year quarter ($1.23 vs. $1.09) and vs. Q3 2025 ($1.12). Adjusted operating ROE was 13.5% in Q4.
Record Insurance In-Force and New Business
Record insurance in-force of $273 billion (up $1 billion sequentially and ~$4 billion, ~1% YoY). Full-year new insurance written of $52 billion and Q4 new insurance written of $14 billion (Q4 NIW +2% sequential, +8% YoY).
Capital Returns and Shareholder Actions
Returned $503 million to shareholders in 2025 ($382 million repurchases, $121 million dividends). Q4 capital returned $157 million (3.4M shares repurchased for $127M; $30M dividends). Board authorized a new $500 million repurchase program and management expects ~ $500 million capital returns in 2026.
Improved Credit Performance and Reserve Release
Net reserve release of $60 million in Q4 driven by favorable cure performance and loss mitigation; claim rate assumption reduced from 9% to 8%. Q4 losses were $18 million and loss ratio improved to 7% (from 15% in Q3 2025 and 10% in Q4 2024).
Strong Capital & Liquidity Metrics
PMIERs sufficiency ratio at 162% ($1.9 billion above requirements). Third-party CRT program provides $1.9 billion of PMIERs capital credit. Entered a new $435 million revolving credit facility, enhancing financial flexibility.
Balance Sheet & Portfolio Quality
Risk-weighted average FICO of 746, risk-weighted average LTV of 93%, layered risk 1.2% of risk-in-force. 59% of loans have rates below 6%, supporting persistency and embedded portfolio equity.
Investment Income and Yield Improvement
Q4 investment income $69 million (flat sequential, +$6 million or +10% YoY). New-money investment yield approximately 5% and weighted average portfolio book yield 4.4% for the quarter.
Expense Discipline and Guidance
Full-year operating expenses $218 million ($217 million excluding restructuring), favorable to updated guidance of ~$219 million. Company expects 2026 operating expenses of $215–$220 million (excl. reorganization).
Operational & Strategic Execution
Launched Rate360 pricing engine enhancements, received multiple credit ratings upgrades and industry awards, advanced Enact Re participation in attractive GSE single- and multifamily deals, and announced largest-ever repurchase authorization.
ACT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
ACT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 03, 2026 | $40.33 | $44.07 | +9.27% |
Nov 05, 2025 | $35.73 | $36.54 | +2.27% |
Jul 30, 2025 | $34.04 | $34.37 | +0.97% |
Apr 30, 2025 | $35.19 | $35.96 | +2.19% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Enact Holdings (ACT) report earnings?
Enact Holdings (ACT) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Enact Holdings (ACT) earnings time?
Enact Holdings (ACT) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ACT EPS forecast?
ACT EPS forecast for the fiscal quarter 2026 (Q1) is 1.18.