Radian Group Inc. (NYSE:RDN) Q4 2022 Results Conference Call February 9, 2023 12:00 PM ET

Company Participants

John Damian - Senior Vice President, Corporate Development and Investor Relations

Rick Thornberry - Chief Executive Officer

Rob Quigley - Controller and Chief Accounting Officer

Derek Brummer - President of Radian Mortgage

Conference Call Participants

Doug Harter - Credit Suisse

Bose George - KBW

Mihir Bhatia - Bank of America

Eric Hagen - BTIG

Operator

Good day, and thank you for standing by. Welcome to the Radian Group Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers’ presentation, there will be a question-and-answer session [Operator Instructions]. Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, John Damian, Senior Vice President, Corporate Development and Investor Relations. Please go ahead.

John Damian

Thank you, and welcome to Radian's fourth quarter and year end 2022 conference call. Our press release, which contains Radian's financial results for the quarter and full year, was issued yesterday evening and is posted to the Investors section of our Web site at www.radian.com. This press release includes certain non-GAAP measures that maybe discussed during today's call, including adjusted pretax operating income, adjusted diluted net operating income per share and adjusted net operating return on equity. In addition, specifically for our Homegenius segment, other non-GAAP measures in our press release that maybe discussed today include adjusted gross profit and adjusted pretax operating income or loss before allocated corporate operating expenses. A complete description of all of our non-GAAP measures maybe found in press release Exhibit F and reconciliations of these measures to the most comparable GAAP measures maybe found in press release Exhibit G. These exhibits are on the Investors section of our Web site.

Today, you will hear from Rick Thornberry, Radian's Chief Executive Officer; and Rob Quigley, Controller and Chief Accounting Officer. Also on hand for the Q&A portion of the call is Derek Brummer, President of Radian Mortgage.

Before we begin, I would like to remind you that comments made during this call will include forward-looking statements. These statements are based on current expectations, estimates, projections and assumptions that are subject to risks and uncertainties, which may cause actual results to differ materially. For a discussion of these risks, please review the cautionary statements regarding forward-looking statements included in our earnings release and the risk factors included in our 2021 Form 10-K and subsequent reports filed with the SEC. These are also available on our Web site. Now I'd like to turn the call over to Rick.