Enact (ACT) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Wed, May 6, 2026 astatine 11:18 AM CDT 29 min read

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Date

Wednesday, May 6, 2026 astatine 8 a.m. ET

Call participants

• President and Chief Executive Officer — Rohit Gupta

• Chief Financial Officer — Hardin Dean Mitchell

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Full Conference Call Transcript

Rohit volition supply an overview of our concern show and advancement against our strategy. Dean volition past sermon the details of our quarterly results earlier turning the telephone backmost to Rohit for closing remarks. We volition past instrumentality your questions. The net materials we issued aft marketplace adjacent yesterday incorporate our fiscal results for the quarter, on with a broad acceptable of fiscal and operational metrics. These are disposable connected the Investor Relations conception of our website. Today's telephone is being recorded and volition see the usage of forward-looking statements. These statements are based connected existent assumptions, estimates, expectations and projections arsenic of today's date.

Additionally, they are taxable to risks and uncertainties, which whitethorn origin existent results to beryllium materially different, and we undertake nary work to update oregon revise specified statements arsenic a effect of caller information. For a treatment of these risks and uncertainties, delight reappraisal the cautionary connection regarding forward-looking statements successful today's property merchandise arsenic good arsenic successful our filings with the SEC, which volition beryllium disposable connected our website. Please support successful caput the net materials and management's prepared remarks contiguous volition see definite non-GAAP measures. Reconciliations of these measures to the astir applicable GAAP metrics tin beryllium recovered successful the property release, our net presumption and our upcoming SEC filings connected our website.

With that, I'll crook the telephone implicit to Rohit.

Rohit Gupta: Thank you, Daniel. Good morning, everyone. Enact delivered a beardown commencement to 2026 amid a volatile complaint environment. This show was underpinned by the disciplined execution of our strategy, resilient recognition show and our wide absorption connected semipermanent worth creation. For the archetypal quarter, we reported adjusted operating income of $172 cardinal oregon $1.21 per diluted share. Adjusted instrumentality connected equity was 13%, and we generated beardown caller security written of $13 billion, resulting successful full security successful unit of $272 billion. The lodging marketplace remained dynamic with owe complaint volatility impacting owe enactment successful the quarter. Overall, acquisition exertion volumes followed seasonal trends, portion little rates aboriginal successful the 4th supported elevated refinance applications.