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Radian Group Inc. (NYSE:RDN) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.5%.
Radian Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-1.34 in the quarter versus EPS of $-0.92 in the year-earlier quarter.
Revenue: Decreased 38.01% to $226 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Radian Group Inc. reported adjusted EPS loss of $-1.34 per share. By that measure, the company missed the mean analyst estimate of $-0.50. It beat the average revenue estimate of $200.03 million.
Quoting Management: “In 2012, we took advantage of every opportunity to position Radian for future success, including growing our volume of new, high-quality mortgage insurance business each quarter, reducing our portfolio of delinquent loans by 16%, maintaining a competitive risk-to-capital ratio and reducing our financial guaranty exposure by 51%,” said Chief Executive Officer S.A. Ibrahim. “Although our fourth quarter results were impacted by the continuing challenge of our legacy portfolio, our ability to write new, profitable business remains undiminished.”
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