Investors Title Q1 net income $4.5M ($2.40 EPS) vs $1.2M ($0.62) prior year

INVESTORS TITLE CO

2024-Q1 EPS reported $2.40 revenue$53,459,000

Net income $4.5M ($2.40 diluted EPS) vs $1.2M ($0.62) in Q1 2023.
Revenue increased 4.1% to $53.5M, driven by higher premiums written and net investment gains.
Operating expenses decreased 4.3%, mainly due to $2.2M reduction in personnel costs.
Adjusted income before taxes (non-GAAP) rose to $3.4M from $1.1M.
Chairman noted challenging real estate market but improvement in key markets.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INVESTORS TITLE CO reported the quarter ended March 31, 2024 results: revenue $53.5 million, net income $4.5 million, EPS $2.40 per diluted share.

Period: the quarter ended March 31, 2024
Revenue: $53.5 million
Net income: $4.5 million
EPS: $2.40 per diluted share
Result: reported results

Exact text from the filing

The Company reported net income of $4.5 million, or $2.40 per diluted share, compared with net income of $1.2 million, or $0.62 per diluted share, for the prior year period. Revenues increased 4.1% to $53.5 million, compared to $51.3 million in the prior year period

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Source: SEC EDGAR

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