Enact Holdings (ACT) Q3 FY2023 earnings: revenue $299 million, up 8.7% on the year

Enact Holdings, Inc. (ACT) reported revenue of $299 million for Q3 FY2023, the quarter ended 30 September 2023, up 8.7% on the same quarter a year earlier. Net income was $164 million, down 14.0% on the year, and diluted earnings per share $1.02. The figures are the company's own, from the 10-Q it filed with the SEC on 2 November 2023.

Revenue$299 millionup 8.7%

Net income$164 milliondown 14.0%

Diluted EPS$1.02

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	299	n/a	n/a	n/a
Operating income	213	n/a	n/a	n/a
Operating margin	71.3%	n/a	n/a
Interest expense	12.9	n/a	n/a	n/a
Pre-tax income	213	n/a	n/a	n/a
Income tax	48.9	n/a	n/a	n/a
Effective tax rate	23.0%	n/a	n/a
Net income	164	n/a	n/a	n/a
Net margin	54.9%	n/a	n/a
Diluted EPS	$1.02	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	155	n/a	n/a	n/a
Cash from investing	-136	n/a	n/a	n/a
Cash from financing	-31.9	n/a	n/a	n/a
Share-based compensation	4.1	n/a	n/a	n/a
Buybacks	6.3	n/a	n/a	n/a
Dividends paid	25.6	n/a	n/a	n/a
Dividend per share	$0.16	n/a	n/a	n/a
Diluted shares, weighted	161m	n/a	n/a	n/a
Shares outstanding at period end	160m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	4,457	n/a	n/a	n/a
Debt	745	n/a	n/a	n/a
Other liabilities	799	n/a	n/a	n/a
Total liabilities and equity	6,001	n/a	n/a	n/a
Investments	18.2	n/a	n/a	n/a
Cash and equivalents	678	n/a	n/a	n/a
Other assets	5,305	n/a	n/a	n/a
Total assets	6,001	n/a	n/a	n/a

Questions

What was Enact Holdings' revenue in Q3 FY2023?

Enact Holdings (ACT) reported revenue of $299 million for Q3 FY2023, the quarter ended 30 September 2023, up 8.7% on the same quarter a year earlier.

How much did Enact Holdings earn in Q3 FY2023?

Net income for Q3 FY2023 was $164 million, down 14.0% on the year, and diluted earnings per share $1.02.

When did Enact Holdings report Q3 FY2023 results?

Enact Holdings filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 2 November 2023.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	299	296	292	299	310	302	307	305	311	313	312	317
Operating income	213	200	206	235	229	208	211	215	210	223	213	220
Operating margin	71%	67%	71%	79%	74%	69%	69%	70%	67%	71%	68%	69%
Interest expense	12.9	12.9	13.0	13.6	12.3	12.3	12.3	12.3	12.9	12.5	12.4	12.5
Pre-tax income	213	200	206	235	229	208	211	215	210	223	213	220
Tax rate	23%	21%	22%	22%	21%	22%	22%	22%	22%	21%	21%	21%
Net income	164	157	161	184	181	163	166	168	163	177	168	175
Net margin	55%	53%	55%	61%	58%	54%	54%	55%	52%	57%	54%	55%
Diluted EPS	$1.02	$0.98	$1.01	$1.16	$1.15	$1.05	$1.08	$1.11	$1.10	$1.22	$1.18	$1.25
Operating cash flow	155	190	187	145	188	166	227	120	192	186	224	119
Buybacks	6.3	18.0	49.7	48.6	71.0	74.6	65.3	84.6	106	127	93.2	93.3
Dividends paid	25.6	139	25.5	29.1	28.8	28.4	28.1	31.5	31.0	30.3	29.8	33.5
Shares outstanding	160m	159m	158m	156m	154m	152m	151m	148m	146m	142m	140m	138m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 2 November 2023, accession 0001823529-23-000211: the filing on EDGAR. All of Enact Holdings, Inc.'s filings: EDGAR company page.

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