Stewart Q4 revenues $655.9M, down 32% YoY; net income $13.3M; acquires BCHH

STEWART INFORMATION SERVICES CORP

2022-FY EPS reported $5.94 revenue$3,069,296,000

Total revenues $655.9M ($643.2M adjusted) vs $961.7M in Q4 2021, decline of ~32%.
Net income $13.3M ($16.3M adjusted) vs $85.5M; diluted EPS $0.49 ($0.60 adjusted) vs $3.12.
Title segment operating revenues $581.6M, down 30% YoY; pretax margin 4.5% vs 14.0%.
CEO cites low transaction volumes; announces acquisition of BCHH, a national title services provider.
Quarter included $12.7M net realized/unrealized gains and $16.7M in closure, severance, and regulatory expenses.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STEWART INFORMATION SERVICES CORP reported the three months ended December 31, 2022 results: revenue $655.9 million, net income $13.3 million, EPS $0.49 per diluted share.

Period: the three months ended December 31, 2022
Revenue: $655.9 million
Net income: $13.3 million
EPS: $0.49 per diluted share
Result: reported results

Exact text from the filing

Stewart Reports Fourth Quarter 2022 Results Total revenues of $655.9 million ($643.2 million on an adjusted basis) compared to $961.7 million ($955.2 million on an adjusted basis) in the prior year quarter Net income of $13.3 million ($16.3 million on an adjusted basis) compared to $85.5 million ($83.7 million on an adjusted basis) in the prior year quarter Diluted EPS of $0.49 ($0.60 on an adjusted basis) compared to prior year quarter diluted EPS of $3.12 ($3.05 on an adjusted basis)

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Source: SEC EDGAR

accession 0000950170-23-002170

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