John Damian | IR |
Rick Thornberry | CEO |
Frank Hall | CFO |
Derek Brummer | President, Radian Mortgage |
Mark DeVries | Barclays |
Doug Harter | Credit Suisse |
Bose George | KBW |
Mihir Bhatia | Bank of America |
Ryan Gilbert | BTIG |
Thank you, and welcome to Radian's First Quarter 2022 Conference Call.
Our press release, which contains Radian's financial results for the quarter, was issued yesterday evening and is posted to the Investors section of our website at www.radian.com. This press release includes certain non-GAAP measures that will be 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 that will be discussed today include adjusted gross profit, adjusted pretax operating income or loss before allocated corporate operating expenses and the related Homegenius profit margins. A complete description of all of our non-GAAP measures may be found in press release Exhibit F and reconciliations of these measures to the most comparable GAAP measures may be found in press release Exhibit G.