Mortgage insurer NMI Holdings Q1 results beat estimates on higher claims

NMI Holdings

30/04/2026 21:26

Overview

U.S. mortgage insurer's Q1 revenue rose and beat analyst expectations

Adjusted EPS and adjusted net income for Q1 beat analyst expectations

Loss ratio rose to 13.3% from 3.0% a year ago, reflecting higher claims

Outlook

Company did not provide specific financial guidance for the current or future periods

Result Drivers

INSURANCE-IN-FORCE GROWTH - Primary insurance-in-force rose to $222.3 bln from $211.3 bln a year ago, supporting revenue growth

HIGHER CLAIMS - Insurance claims and claim expenses rose to $20.7 mln from $4.5 mln a year ago, increasing the loss ratio

NET INVESTMENT INCOME - Net investment income increased 21% year-over-year to $28.6 mln

Company press release: ID:nGNXbDMBZC

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$183.50 mln
$154.33 mln (3 Analysts)
Q1 Adjusted EPS
Beat
$1.28
$1.23 (7 Analysts)
Q1 EPS
$1.28
Q1 Adjusted Net Income
Beat
$99.40 mln
$95.32 mln (5 Analysts)
Q1 Net Income
$99.30 mln
Q1 Operating Expenses
$30.60 mln
Q1 ROE
15.20%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the property & casualty insurance peer group is "buy"

Wall Street's median 12-month price target for NMI Holdings Inc is $47.00, about 14.3% above its April 29 closing price of $41.12

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)