First American Q2 net income $116M ($1.11/diluted); revenue $1.6B, down 2% YoY

First American Financial Corp

2024-Q2 EPS reported $1.56 revenue$3,036,900,000

Q2 total revenue $1.6B (-2% YoY); net income $116M ($1.11 diluted EPS) vs $138.5M ($1.33) last year.
Adjusted net income $132.5M ($1.27 per share) vs $140.9M ($1.35) in Q2 2023.
Title Insurance segment pretax margin 11.7% (adjusted 11.9%) vs 12.1% (adjusted 12.6%) a year ago.
Home Warranty segment pretax margin improved to 15.4% from 13.4%; claim loss rate down to 45.8%.
Repurchased 752K shares for $41M in Q2; through July 23, additional 281K shares for $15M.

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