First American Q4 GAAP EPS $0.33 ($0.69 adj); revenue $1.4B -15% YoY; cited cyber incident

First American Financial Corp

2023-FY EPS reported $2.07 revenue$6,003,500,000

GAAP EPS $0.33 vs $0.52; adjusted EPS $0.69 vs $1.41; net income $34.1M.
Total revenue $1.4B (-15% YoY); adjusted total revenue $1.5B (-18%).
Title Insurance pretax margin 4.5% (7.5% adj); commercial revenue $172M (-32%).
Late-Dec cybersecurity incident materially impacted Q4 operations; orders returned to normal.
Full-year adj EPS $3.80; dividend raised 2% to $2.12 annual rate; repurchased 1.3M shares.

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 fourth quarter ended Dec. 31, 2023 results: revenue $1.4 billion, net income $34 million, EPS $0.33 per diluted share.

Period: fourth quarter ended Dec. 31, 2023
Revenue: $1.4 billion
Net income: $34 million
EPS: $0.33 per diluted share
Result: reported results

Exact text from the filing

impacted by the company's previously disclosed cybersecurity incident • Earnings per diluted share of $0.33, or $0.69 per share on an adjusted basis • Total revenue of $1.4 billion, down 15 percent compared with last year - Adjusted total revenue of $1.5 billion, down 18 percent compared with last year • Title Insurance and Services segment investment

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

First American Financial Corp reported fiscal year ended December 31, 2023 results: revenue $6.0 billion, net income $217 million, EPS $2.07 per diluted share.

Period: fiscal year ended December 31, 2023
Revenue: $6.0 billion
Net income: $217 million
EPS: $2.07 per diluted share
Result: reported results

Exact text from the filing

for a total of $17.7 million at an average price of $53.85 Full Year Highlights ▪ Earnings per diluted share of $2.07, or $3.80 per share on an adjusted basis ▪ Total revenue of $6.0 billion, down 21 percent compared with last year ‐ Adjusted total revenue of $6.2 billion, down 24 percent compared with last year ▪ Title Insurance and Services segment investment

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Source: SEC EDGAR

accession 0000950170-24-012211

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