earnings
confidence high
sentiment negative
materiality 0.75
First American Q2 EPS $1.01 (adj $1.97); revenue $2.1B -9% YoY; commercial +30%
First American Financial Corp
2022-Q2 EPS reported
$1.89
revenue$4,096,000,000
- Net income $109M ($1.01 diluted EPS); adjusted EPS $1.97 excluding $133M net investment losses.
- Total revenue $2.06B down 9% YoY; commercial revenue $289M up 30% YoY.
- Title Insurance segment pretax margin 11.7% (13.9% ex-investment losses); investment income up 49%.
- Repurchased 3.9M shares for $227M; board authorized new $400M buyback program.
- Home warranty revenue $102M down 5%; loss rate improved to 52.4% from 55.5%.