Assured Guaranty (AGO) · wyniki II kw. 2026 i wycena

Przy wzroście 10,0% rocznie (3-letni wzrost przychodów) wartość godziwa z modelu to $258.21 na akcję — kurs jest o 72% poniżej niej. Obecna cena zakłada wzrost o −8,5% rocznie.

1. Liczba

   Quarter 2026 adjusted operating income reached $55 million or $1.23 per share, an increase of 22% over the adjusted operating income per share in the second quarter of last year.

   Cytat ze źródła

   “I am pleased to report second quarter 2026 adjusted operating income of $55 million or $1.23 per share, which represents an increase of 22% over adjusted operating income per share in the second quarter of last year.”

2. Liczba

   New business production generated $152 million of PVP in the first half, which is nearly 50% higher than the first half of 2025 due to activity in U.S. and global finance.

   Cytat ze źródła

   “Our new business production continued to deliver solid results, generating $152 million of PVP in the first half, nearly 50% higher than in the first half of 2025, led by our activity in U.S. public finance and global structured finance.”

3. Prognoza

   S&P, KBRA, and Moody's affirmed the financial strength ratings of the company's financial guarantee insurance subsidiaries with stable outlooks.

4. Liczba

   Assured Guaranty closed $152 million of PVP in the first half of 2026, a 48% increase compared to $103 million in the first half of last year.

   Cytat ze źródła

   “Assured Guaranty closed $152 million of PVP in the first half of 2026 compared with $103 million of PVP in the first half of last year, a 48% increase.”

5. Liczba

   The alternative investment portfolio maintained an inception-to-date IRR of approximately 12%, which is significantly higher than the 4.3% three-year average yield on the fixed maturity portfolio.

   Cytat ze źródła

   “Despite this quarter's market movements, we still have an inception-to-date IRR of approximately 12% on the alternative investment portfolio, which is significantly higher than the 3-year average yield on our fixed maturity portfolio of 4.3%.”

3 więcej

1. Główny temat

   AGO is allocating less capital for share repurchases to fund growth strategies that the company believes will yield opportunities and returns for shareholders in the future.

   Cytat ze źródła

   “So when we look at the pool of capital that's getting released today, we're now saying, gee, yes, it's less available for share repurchases because we are putting it into our growth strategies that we have, and we think those growth strategies will yield really good opportunities for our shareholders, good returns in the future.”

2. Liczba

   Loss expense decreased from $28 million in the second quarter of 2025 to $4 million in the second quarter of this year.

   Cytat ze źródła

   “Loss expense was down from $28 million in the second quarter of 2025 to $4 million in the second quarter of this year.”

3. Liczba

   Ultimately, as I mentioned, Assured Guaranty still has a 12% IRR for alternative investments and it remains confident in the strategy.

Script and answers carried a similar tone, so the script's message held up under questioning.

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