secwatch.observer — SEC 8-K summary
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Issuer:     First American Financial Corp (FAF)
CIK:        0001472787
Form:       8-K
Filed at:   2024-10-23T23:59:59+00:00
Accession:  0000950170-24-116647
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First American Q3 GAAP loss $1.00/sh (adj. $1.34); net investment losses $312M; rebalancing for $67M/yr income
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- Net loss of $104M ($1.00 diluted loss); adjusted net income $138M ($1.34 EPS) vs. $1.22 last year.
- Total revenue $1.41B, down 5% YoY; adjusted revenue $1.66B, up 4% YoY, first increase since Q2 2022.
- Net investment losses of $312M from portfolio rebalancing; expects to boost interest income by $67M annually.
- Title segment adjusted pretax margin 11.6%; commercial revenues up 19% to $190M; home warranty pretax margin 8.1%.
- Quarterly dividend raised 2% to $0.54/sh; repurchased 293k shares for $16M; raised $450M in 10-yr 5.45% senior notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1472787/000095017024116647/0000950170-24-116647-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1472787/000095017024116647/faf-20241023.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-116647

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