secwatch.observer — SEC 8-K summary
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Issuer:     First American Financial Corp (FAF)
CIK:        0001472787
Form:       8-K
Filed at:   2024-07-24T23:59:59+00:00
Accession:  0000950170-24-086052
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1472787/000095017024086052/0000950170-24-086052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1472787/000095017024086052/faf-20240724.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-086052

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer