{"schema_version":"secwatch.filing_event.v1","accession":"0001564590-23-006347","form_type":"8-K","ticker":"FAF","cik":"0001472787","company_name":"First American Financial Corp","filed_at":"2023-04-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.969399+00:00","generated_at":"2026-06-16T08:48:27.512623+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"First American Q1 revenue down 29% to $1.45B; EPS $0.44 vs $0.88 YoY","bullets":["Total revenue $1.45B, down 29% YoY; diluted EPS $0.44 vs $0.88; adjusted EPS $0.49 excl. net investment losses.","Title Insurance pretax margin 6.5% (down from 11%); commercial revenues $148M, down 39%.","Direct title orders closed down 48% YoY; open orders 172,600 vs 279,000; average revenue per order up 15%.","Investment income $125M, up 136% due to higher rates; provision for policy losses reduced to 3.5% from 4.0%.","Bought back 555,524 shares for $30M; debt-to-capital 28.4%; CEO notes April open orders up 5%+ vs March."],"urls":{"canonical":"https://secwatch.observer/filing/0001564590-23-006347","json":"https://secwatch.observer/filing/0001564590-23-006347.json","markdown":"https://secwatch.observer/filing/0001564590-23-006347.md","text":"https://secwatch.observer/filing/0001564590-23-006347.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1472787/000156459023006347/0001564590-23-006347-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1472787/000156459023006347/faf-8k_20230427.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T08:48:27.512623+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0794a16d3ce5bd0f2764bcef22c85ea24fb2518d","claim":"First American Financial Corp reported the first quarter ended March 31, 2023 results: revenue $1,446.1, net income $45.9, EPS $0.44.","evidence_excerpt":"Total revenue $ 1,446.1 $ 2,033.7 Income before taxes $ 59.6 $ 129.8 Net income $ 45.9 $ 97.9 Net income per diluted share $ 0.44 $ 0.88","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1472787/000156459023006347/0001564590-23-006347-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the first quarter ended March 31, 2023"},{"label":"Revenue","value":"$1,446.1"},{"label":"Net income","value":"$45.9"},{"label":"EPS","value":"$0.44"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}