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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Enact
Enact (ACT) investor relations material
Enact Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 revenue was $312.9M; net income was $158.9M, or $1.15 per diluted share, and adjusted operating income was $164.2M, or $1.19 per diluted share.
Primary insurance in-force reached $275.1B, up 1% YoY, with 81% persistency; a $37M reserve release reflected favorable cures and loss mitigation.
Strong credit and balance-sheet position supported increased 2026 capital-return guidance to ~$600M.
Financial highlights
Net premiums earned were $242.3M, down 1% YoY; net investment income was $74.4M, up 9% YoY, and net investment losses were $6.0M.
Losses incurred rose 32% YoY to $47.4M; acquisition and operating expenses fell 5% to $47.9M.
Adjusted operating income was $164.2M versus $165.9M in Q3 2025; 9M adjusted operating income rose to $513.9M from $508.3M.
New insurance written was $14.1B, down 7% QoQ and nearly flat YoY; 9M volume rose to $42.1B from $37.1B.
Outlook and guidance
2026 capital returns are expected to be ~$600M, subject to business performance, market conditions, and regulatory approvals.
2026 operating expenses, excluding reorganization costs, are expected at the lower end of the $205M-$210M range.
Delinquencies may rise with normal Q4 seasonality and continue gradually increasing into 2027 as recent books season, assuming a stable macro environment.
No loss-ratio guidance was given; reserve-release opportunities depend partly on roll-rate assumptions and observed performance.
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Latest events from Enact
- Record $263B IIF and more than $300M in shareholder returns marked FY23.ACT
Q4 2023 - Q2 2026 net income rose 4% to $175M; NIW up 15%; 2026 capital returns guided to $550–$600M.ACTQ2 2026
- Strong 2025 results, major capital returns, and all board proposals approved.ACTAGM 2026
- Strong Q1 2026 earnings, $13B NIW, robust capital returns, and a 14% dividend increase.ACTQ1 2026
- 2025 saw record performance, robust capital returns, and continued governance enhancements.ACTProxy filing
- Virtual meeting to vote on directors, executive pay, and auditor ratification for 2026.ACTProxy filing
- Q4 2025 saw $177.2M net income, $273B insurance in force, and a $500M buyback program.ACTQ4 2025
- Record insurance in-force, strong earnings, and 2024 capital return guidance raised to $350M.ACTQ2 2024
- Q3 net income reached $181M, with record insurance in-force and strong capital returns.ACTQ3 2024
Next Enact earnings date
Q4 20263 Feb, 2027
Enact
Next Enact earnings date
Q4 20263 Feb, 2027
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Frequently asked questions
Enact Holdings Inc. provides private mortgage insurance services that enable borrowers to purchase homes with low down payments. The company serves mortgage lenders by covering a portion of the lender’s risk in the event of borrower default. It is headquartered in Raleigh, North Carolina, and its shares are listed on the NASDAQ.