NMI Holdings Q3 revenue rises 18%, beats analyst estimates
NMIH•NMI Holdings’ third-quarter revenue rose 18% to $187.6 million, above the $159.8 million analyst estimate, while adjusted EPS of $1.23 missed the $1.31 estimate. The company repurchased $27.1 million in shares during the quarter.
1. Quarterly results
NMI Holdings reported third-quarter revenue of $187.6 million, up 18% and above the $159.8 million analyst estimate. Adjusted EPS was $1.23, below the $1.31 estimate, and adjusted net income of $93.7 million missed the $100.31 million estimate.
2. Business updates
The company repurchased $27.1 million in shares during the quarter. New insurance written fell 15% from the prior quarter, while net investment income rose 6% quarter over quarter and 20% year over year. The company reported higher insurance claims and claim expenses, which raised its loss ratio, and provided no specific financial guidance.
