First American Q1 adjusted EPS $0.45 vs $0.57 YoY; revenue $1.4B down 1%

First American Financial Corp

2024-Q1 EPS reported $0.45 revenue$1,424,600,000

GAAP net income $46.7M ($0.45 diluted EPS); adjusted net income $46.9M ($0.45).
Title Insurance segment pretax margin 5.5% (adjusted 4.8%), down from 6.5% last year.
Total revenue $1.42B, down 1% YoY; direct title orders closed fell 4%, average revenue per order up 3%.
Home Warranty pretax margin improved to 19.3% from 15.3% on lower claim loss rate (41.7% vs 47.3%).
CEO expects modest revenue growth and title margins similar to 2023 amid persistent market challenges.

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 0.95

First American Financial Corp reported first quarter ended March 31, 2024 results: revenue $1.4 billion, net income $46.7 million, EPS $0.45.

Period: first quarter ended March 31, 2024
Revenue: $1.4 billion
Net income: $46.7 million
EPS: $0.45
Result: reported results

Exact text from the filing

results for the first quarter ended March 31, 2024. Current Quarter Highlights • Earnings per diluted share of $0.45, or $0.45 per share on an adjusted basis • Total revenue of $1.4 billion, down 1 percent compared with last year ‐ Adjusted total revenue of $1.4 billion, down 3 percent compared with last year • Title Insurance and Services segment investment income

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Source: SEC EDGAR

accession 0000950170-24-047628

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