Essent Group (ESNT) Beats Q1 Revenue Estimates as Mortgage Insurance Demand Holds

Essent Group (NYSE: ESNT) reported first-quarter 2026 revenue of $336.1 million, up 5.8% from a year earlier and above Wall Street expectations, as mortgage insurance demand remained resilient despite weak housing affordability. Non-GAAP earnings were $1.82 per share, 6% ahead of consensus estimates. Management said credit quality stayed strong, with the portfolio default rate effectively flat from the prior quarter and persistency above 84%. Growth in mortgage insurance and reinsurance operations supported results, while expansion into property and casualty reinsurance added premium streams and diversified earnings. Essent said its outlook depends on housing affordability, mortgage origination volumes, interest rates and employment trends. The company is focusing on capital deployment, technology investment, and growth in title insurance and reinsurance. Shares traded at $62.21 after the report, up from $61.58 before the release.