First American Q3 adjusted EPS $1.22; revenue $1.5B down 19%; dividend raised 2%

First American Financial Corp

2023-Q3 EPS reported $1.75 revenue$4,574,200,000

Net loss of $2M ($0.02 diluted loss); adjusted net income $128M ($1.22 diluted).
Total revenue $1.5B down 19% YoY; commercial revenue $160M down 39%.
Title segment pretax margin 10.5% (12.0% adjusted); home warranty margin 8.7% (9.3% adjusted).
Net investment losses $164M primarily from venture portfolio unrealized losses.
Raised common dividend 2% to $2.12 annual rate; accelerated share repurchases in October.

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

First American Financial Corp reported the third quarter ended Sept. 30, 2023 results: revenue $1.5 billion, net income $2 million loss, EPS ($0.02).

Period: the third quarter ended Sept. 30, 2023
Revenue: $1.5 billion
Net income: $2 million loss
EPS: ($0.02)
Result: reported results

Exact text from the filing

Total revenue for the third quarter of 2023 was $1.5 billion, down 19 percent compared with the third quarter of 2022. Net loss in the current quarter was $2 million, or 2 cents per diluted share, compared with net income of $2 million, or 2 cents per diluted share, in the third quarter of 2022.

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Source: SEC EDGAR

accession 0000950170-23-055359

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