First American Q4 EPS $0.52 ($1.35 adj); revenue down 29% to $1.69B; net investment losses $114M

First American Financial Corp

2022-FY EPS reported $2.45 revenue$7,605,000,000

Q4 diluted EPS of $0.52 ($1.35 excluding $0.83 net investment losses); revenue $1.685B, down 29% YoY.
Title Insurance segment pretax margin 7.1% (10.4% excl. net investment losses); commercial title revenues down 34% to $251M.
Net investment losses of $114M driven by sale of fixed-income securities for tax planning and venture portfolio unrealized losses.
Full year 2022 EPS $2.45 ($6.09 adj.); returned $658M to shareholders via buybacks and dividends; dividend raised 2% to $2.08 annual.
Cash flow from operations $246M in Q4 vs $344M prior year; debt-to-capital 30.0%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

First American Financial Corp reported the quarter and fiscal year ended December 31, 2022 results: revenue Total revenue of $1.7 billion, net income Net income in the current quarter was $54 million, EPS 52 cents per diluted share.

Period: the quarter and fiscal year ended December 31, 2022
Revenue: Total revenue of $1.7 billion
Net income: Net income in the current quarter was $54 million
EPS: 52 cents per diluted share
Result: reported results

Exact text from the filing

ended Dec. 31, 2022. Current Quarter Highlights • Earnings per diluted share of 52 cents, or $1.35 per share excluding 83 cents of net investment losses • Total revenue of $1.7 billion, down 29 percent compared with last year - Excluding net investment losses of $114 million, total revenue was $1.8 billion, down 24 percent compared with last year - Commercial

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Source: SEC EDGAR

accession 0001564590-23-001631

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