secwatch.observer — SEC 8-K summary
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Issuer:     First American Financial Corp (FAF)
CIK:        0001472787
Form:       8-K
Filed at:   2023-02-09T23:59:59+00:00
Accession:  0001564590-23-001631
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1472787/000156459023001631/0001564590-23-001631-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1472787/000156459023001631/faf-8k_20230209.htm
  HTML page:      https://secwatch.observer/filing/0001564590-23-001631

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