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Jun 30, 2020
Investors Title Q2 2020 Earnings Report
Record results achieved due to strong rebound in the housing market and record refinance activity.
Key Takeaways
Investors Title Company announced record results for the second quarter ended June 30, 2020. Revenues increased 44.5% to an all-time quarterly record of $61.7 million. Net income was reported as $14.5 million, or $7.65 per diluted share.
Revenues increased 44.5% to an all-time quarterly record of $61.7 million.
Net income was $14.5 million, or $7.65 per diluted share.
Net premiums written increased 35.7% versus the prior year period.
Income before income taxes increased 159.0% to $17.9 million.
Revenue by Segment
Forward Guidance
The company is optimistic that low interest rates and generally stable home values will result in a continuation of strong demand for housing for the second half of the year.
Positive Outlook
- Low interest rates
- Generally stable home values
- Strong demand for housing
- Pent up demand from the first quarter
- Initiatives from industry participants to enable loan closings during the pandemic
Challenges Ahead
- High level of risk and uncertainty in the economy
- The ultimate impacts of COVID-19 on the overall economy remain unknown
- Impacts of COVID-19 on the title insurance industry remain unknown
- Impacts of COVID-19 on the Company’s own business remain unknown
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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