earnings
confidence high
sentiment negative
materiality 0.75
First American Q1 net income drops 58% to $98M; refi orders down 62%
First American Financial Corp
2022-Q1 EPS reported
$0.88
revenue$2,034,000,000
- Diluted EPS $0.88 vs $2.10 YoY; adjusted EPS $1.17 excluding $0.29 net investment losses.
- Total revenue flat at $2.0B; commercial revenue up 48% to $242M.
- Closed title orders down 29% (refi -62%); average revenue per order up 40% to $2,969.
- Title pretax margin 11.0% (9.7% excl net gains) vs 15.2% last year.
- Repurchased 3.25M shares YTD for $210M at avg price $64.64.