MGIC Investment Q1 2024 Adj EPS $0.65 Beats $0.60 Estimate, Sales $294.361M Miss $300.512M Estimate
Portfolio Pulse from Benzinga Newsdesk
MGIC Investment (NYSE:MTG) reported Q1 2024 adjusted EPS of $0.65, surpassing the $0.60 estimate, marking a 20.37% year-over-year increase. However, their sales of $294.361M fell short of the $300.512M estimate, despite being a 3.66% increase from the previous year.
May 01, 2024 | 9:05 pm
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MGIC Investment's Q1 2024 earnings beat estimates with an adjusted EPS of $0.65, a 20.37% increase from last year, but sales missed estimates at $294.361M, a 3.66% YOY increase.
The positive earnings beat may provide short-term upward momentum for MTG's stock, reflecting operational efficiency and growth. However, the miss on sales estimates could temper investor enthusiasm, suggesting potential challenges in revenue growth. The mixed results lead to a neutral short-term impact score, as the positive earnings surprise is somewhat offset by the slight disappointment in sales.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100