earnings
confidence high
sentiment negative
materiality 0.80
Stewart Q3 revenue $716.4M, down 14% YoY; EPS $1.08 vs $3.26 prior year
STEWART INFORMATION SERVICES CORP
2022-Q3 EPS reported
$5.45
revenue$2,413,387,000
- Total revenues $716.4M ($722.8M adj), down 14% from $836.7M; title segment operating revenues fell 16%.
- Net income $29.4M ($37.5M adj) vs $88.7M; diluted EPS $1.08 ($1.37 adj) vs $3.26 ($3.17 adj) prior year.
- Title segment pretax income dropped 56% to $51.8M; pretax margin fell to 8.0% from 15.4%.
- CEO cites mortgage rate headwinds; acquired FNC Title Services (reverse mortgage title) to invest opportunistically.
- Nine-month adjusted net income $163.6M ($5.98 per diluted share) vs $224.0M ($8.27) prior year.