MGIC Investment Corp. (NYSE:MTG) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 7.48%.
MGIC Investment Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.31 in the quarter versus EPS of $-0.48 in the year-earlier quarter.
Revenue: Decreased 29.1% to $269.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: MGIC Investment Corp. reported adjusted EPS loss of $0.31 per share. By that measure, the company missed the mean analyst estimate of $-0.15. It missed the average revenue estimate of $281.31 million.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…