MGIC Investment Corp. Reports Strong Fourth-Quarter Earnings, Exceeding Expectations

MILWAUKEE, Wis. – MGIC Investment Corp. (MTG) announced its fourth-quarter financial results on Monday, reporting a net income of $184.7 million. Earnings per share amounted to 72 cents, surpassing Wall Street expectations.

Analysts surveyed by Zacks Investment Research had estimated earnings of 65 cents per share. The mortgage insurance company's revenue for the quarter reached $301.4 million, with adjusted revenue at $303.1 million.

For the full year, MGIC Investment Corp. recorded a profit of $763 million, or $2.89 per share. Revenue for the year was reported at $1.22 billion.

This earnings report indicates a strong performance by MGIC Investment Corp. despite economic challenges in the mortgage industry. The company's ability to exceed analyst expectations highlights its financial resilience and its potential for continued growth in the future.