earnings
confidence high
sentiment negative
materiality 0.70
Stewart Q3 revenue up 13% to $900.7M but EPS falls to $0.98 from $1.55 on industry headwinds
STEWART INFORMATION SERVICES CORP
- Total revenues were $900.7M vs $796.9M a year ago; net income was $30.3M vs $44.3M and diluted EPS $0.98 vs $1.55.
- Adjusted net income was $41.2M ($1.33/share) vs $46.7M ($1.64); adjusted pretax margin was 6.7% vs 8.1%.
- Title segment operating revenues rose 5% to $690.5M, but pretax income fell 23% to $47.5M; adjusted pretax income was $51.9M vs $60.8M.
- CEO Fred Eppinger said the company faced increased industry headwinds expected to continue into next year, while focusing on market share growth.
- Nine-month revenue was $2,581.2M vs $2,131.1M; diluted EPS $2.74 vs $2.79; adjusted EPS $3.50 vs $3.23.