Essent Group Ltd. Profit Declines In Q1, But Beats Estimates

(RTTNews) - Essent Group Ltd. (ESNT) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $175.433 million, or $1.69 per share. This compares with $181.719 million, or $1.70 per share, last year.

Analysts on average had expected the company to earn $1.65 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 6.4% to $317.558 million from $298.357 million last year.

Essent Group Ltd. earnings at a glance (GAAP) :

-Earnings: $175.433 Mln. vs. $181.719 Mln. last year. -EPS: $1.69 vs. $1.70 last year. -Revenue: $317.558 Mln vs. $298.357 Mln last year.

For the first quarter, the company posted net premiums earned of $245.848 million, higher than $245.590 million, recorded for the same period last year.

Essent will pay a quarterly cash dividend of $0.31 per share on June 10, to shareholders of record as of May 30.