On Friday, Essent Group Ltd (NYSE:ESNT)’s shares declined -8.09% to $26.47.
Essent Group Ltd. (ESNT) reported net income for the quarter ended June 30, 2015 of $37.2 million or $0.41 per diluted share, compared to $19.6 million or $0.23 per diluted share for the quarter ended June 30, 2014. As of June 30, 2015, Essent had primary insurance in force of $57.4 billion and consolidated stockholders’ equity of $1.03 billion.
Financial Highlights:
- Insurance in force as of June 30, 2015 was $57.4 billion, contrast to $53.3 billion as of March 31, 2015 and $39.4 billion as of June 30, 2014.
- New insurance written for the second quarter was $7.3 billion, contrast to $5.3 billion in the first quarter of 2015 and $5.9 billion in the second quarter of 2014.
- Net premiums earned for the second quarter were $78.4 million, contrast to $75.0 million in the first quarter of 2015 and $50.3 million in the second quarter of 2014.
- The expense ratio for the second quarter was 34.6%, contrast to 36.6% in the first quarter of 2015 and 47.0% in the second quarter of 2014.
- The provision for losses and LAE for the second quarter was $2.3 million, contrast to $2.0 million in the first quarter of 2015 and $1.0 million in the second quarter of 2014.
- The percentage of loans in default as of June 30, 2015 was 0.23%, contrast to 0.21% as of March 31, 2015 and 0.13% as of June 30, 2014.
Essent Group Ltd., through its auxiliaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services. It serves originators of residential mortgage loans, such as regulated depository institutions, mortgage banks, credit unions, and other lenders.
Government Properties Income Trust (NYSE:GOV)’s shares dropped -0.54% to $16.59.
Government Properties Income Trust (GOV) declared its financial results for the quarter and six months ended June 30, 2015.
David Blackman, President and Chief Operating Officer of GOV, made the following statement:
Results for the Quarter Ended June 30, 2015:
Normalized funds from operations, or Normalized FFO, for the quarter ended June 30, 2015 were $42.4 million, or $0.60 per diluted share, contrast to Normalized FFO for the quarter ended June 30, 2014 of $31.5 million, or $0.57 per diluted share. The enhance in Normalized FFO per share this quarter was primarily the result of GOV’s investment in Select Income REIT (SIR).
Net loss determined in accordance with U.S. generally accepted accounting principles, or GAAP, was $191.2 million, or $2.71 per diluted share, for the quarter ended June 30, 2015, contrast to net income of $14.6 million, or $0.27 per diluted share, for the quarter ended June 30, 2014. The net loss for the quarter ended June 30, 2015 comprised of a non-cash loss on impairment of GOV’s investment in SIR of $203.3 million, or $2.88 per diluted share. The weighted average number of diluted common shares outstanding was 70.5 million for the quarter ended June 30, 2015, and 54.7 million for the quarter ended June 30, 2014.
Government Properties Income Trust is a real estate investment trust (REIT). The Company operates in two business segments: ownership of properties that are primarily leased to Government tenants and its equity method investment in Select Income REIT (SIR). The Company’s properties are located in Alabama, Arizona, California, Florida, Kentucky, Massachusetts, New Jersey, New York, Texas, Washington and Wyoming.
At the end of Friday’s trade, Textron Inc. (NYSE:TXT)‘s shares dipped -1.07% to $42.45.
Bell Boeing, a planned alliance between Bell Helicopter, a Textron [NYSE: TXT] company, and Boeing [NYSE: BA], was awarded a U.S. Navy contract recently for five Bell Boeing V-22 Osprey tiltrotor aircraft to be delivered to Japan, marking the first sale of the aircraft through the U.S. government’s foreign military sales program.
The contract for the Block C aircraft comprises support, training, and equipment. The versatile V-22 tiltrotor will allow Japan’s Ground Self-Defense Force greatly improved capabilities, while providing an ideal platform for relief efforts in response to natural disasters.
Textron Inc. operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance. The Textron Aviation segment manufactures business jets, turboprop aircraft, piston aircraft, military trainer and defense aircraft, and parts, in addition to provides maintenance, inspection, and repair services.
Realogy Holdings Corp (NYSE:RLGY), ended its Friday’s trading session with -1.68% loss, and closed at $43.39.
Realogy Holdings Corp. (RLGY), a global leader in residential real estate franchising and prominent provider of real estate brokerage, relocation, and title and settlement services, stated financial results for the second quarter ended June 30, 2015, counting the following highlights:
- Revenue of $1.7 billion, which represents a 9% enhance contrast to second quarter 2014, was driven by higher homesale transaction volume.
- Net income for second quarter 2015 was $97 million, and basic earnings per share was $0.66, representing enhances of 43% and 40%, respectively, contrast to the preceding year period.
- Adjusted EBITDA was $282 million, contrast to $269 million in the second quarter of 2014, a year-over-year enhance of $13 million.
- Realogy generated $273 million of free cash flow for the quarter, or $1.86 per share, contrast to $198 million, or $1.36 per share, in the preceding year period.
Realogy Holdings Corp. provides real estate and relocation services worldwide. The company’s Real Estate Franchise Services segment franchise its real estate brokerage franchise systems under the Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA, Sotheby’s International Realty, and Better Homes and Gardens Real Estate brand names to real estate brokerage businesses. As of December 31, 2014, this segment’s real estate franchise systems had about 13,500 offices; and about 251,300 independent sales associates worldwide.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
