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Assured Guaranty (AGO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Assured Guaranty (AGO) reported revenue of $261M for the first quarter 2026 (Q1 2026), -24% from a year earlier and -6% from the quarter before. Operating margin was 13.0%, net earnings $88.0M (33.7% of revenue).
Assured Guaranty, Q1 2026: revenue $261M (-24% year over year), operating margin 13.0%, net earnings $88.0M, operating cash flow $190M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $261M | -6% | -24% |
| Operating profit | $34.0M | -76% | -81% |
| Net earnings | $88.0M | -26% | -50% |
| Operating cash flow | $190M | +387% | +118% |
What changed
Revenue was $261.0M in Q1 2026, down 24% year over year and down 6% from the previous quarter.
Operating profit was $34.0M, a 13.0% margin (down 38.0 points year over year). Total costs grew 34% against a revenue fall of 24%. Net earnings were $88.0M, down 50% year over year ($85.0M including minority interests, which bore $3.0M of losses). The effective tax rate was -30.8%. Non-operating items added $31.0M, 48% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $190.0M (up 118% year over year), 224% of net income including minority interests. Working capital and other items added $105.0M.
Questions
What was Assured Guaranty's revenue in the first quarter 2026?
Assured Guaranty (AGO) reported revenue of $261M for the first quarter 2026 (Q1 2026), -24% from a year earlier and -6% from the quarter before.
Was Assured Guaranty profitable in the first quarter 2026?
Operating profit was $34.0M (13.0% of revenue) and net earnings $88.0M.
Source: Assured Guaranty 10-Q on SEC EDGAR.