---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-22-016226"
form_type: "8-K"
ticker: "FAF"
cik: "0001472787"
company_name: "First American Financial Corp"
filed_at: "2022-04-28T23:59:59+00:00"
generated_at: "2026-06-26T03:21:17.650066+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First American Q1 net income drops 58% to $98M; refi orders down 62%

## Summary
- 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.

## SEC filing metadata
- accession: 0001564590-22-016226
- form_type: 8-K
- ticker: FAF
- cik: 0001472787
- company_name: First American Financial Corp
- filed_at: 2022-04-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1472787/000156459022016226/0001564590-22-016226-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1472787/000156459022016226/faf-8k_20220428.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-22-016226
- JSON: https://secwatch.observer/filing/0001564590-22-016226.json
- Plain text: https://secwatch.observer/filing/0001564590-22-016226.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.