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Mar 31, 2023
Investors Title Q1 2023 Earnings Report
Net income and revenues decreased due to decline in real estate transaction volumes.
Key Takeaways
Investors Title Company reported a decrease in net income to $1.2 million, or $0.62 per diluted share, compared to $6.2 million, or $3.25 per diluted share, for the prior year period. Revenues also decreased by 25.6% to $51.3 million, primarily due to a 38.3% decrease in revenues related to the title insurance business.
Net income decreased to $1.2 million, or $0.62 per diluted share, compared to $6.2 million, or $3.25 per diluted share, for the prior year period.
Revenues decreased 25.6% to $51.3 million, compared to $69.0 million in the prior year period.
Title insurance revenues decreased primarily as a result of decreases of 38.3% in revenues related to title insurance business due to an overall decline in real estate transaction volumes.
Operating expenses decreased 18.7% compared to the prior year period, mainly due to a $10.5 million decline in commissions to agents.
Revenue by Segment
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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