earnings
confidence high
sentiment positive
materiality 0.75
First American Q3 EPS $4.00 (adj. $2.15); revenue $2.56B +34%; commercial title rev +84%
First American Financial Corp
2021-Q3 EPS reported
$8.81
revenue$6,848,048,000
- Total revenue $2.56B (+34% YoY); net income $445.3M ($4.00 diluted EPS); adjusted EPS $2.15 excluding net realized gains.
- Title segment revenue $2.15B (+21%); pretax margin 16.4%; commercial title revenue $262.4M (+84%).
- Net realized investment gains $275.2M, including $195.3M from Offerpad venture investment.
- Specialty Insurance segment pretax loss improved to $1.9M from -$72.1M; P&C wind-down on track for Q3 2022.
- Raised $650M in 2.4% senior notes; repurchased $14.1M in shares; debt-to-capital 28.5%.