earnings
confidence high
sentiment positive
materiality 0.75
Investors Title Q2 net income $19.8M ($10.42 EPS), record revenues $85M, +37.6% YoY
INVESTORS TITLE CO
2021-Q2 EPS reported
$17.70
revenue$157,039,000
- Net income $19.8M ($10.42 diluted EPS) vs $14.5M ($7.65) a year ago; all-time records for revenues, net premiums written and net income.
- Revenues $85.0M (+37.6% YoY); net premiums written +42.2%; escrow and other title fees +72.8%.
- Non-GAAP income before income taxes (excl. equity security fair value changes) $20.5M, up 105.6% YoY.
- Six-month net income $33.6M ($17.70 diluted EPS) vs $7.5M ($3.95); revenues $157.0M (+71.3%).
- Chairman cites strong housing demand, low rates and economic recovery; positive outlook for remainder of 2021.