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Jun 30, 2023
Investors Title Q2 2023 Earnings Report
Reported net income of $7.6 million, or $4.00 per diluted share, compared to $2.3 million, or $1.20 per diluted share for the prior year period.
Key Takeaways
Investors Title Company announced results for the second quarter ended June 30, 2023. The Company reported net income of $7.6 million, or $4.00 per diluted share. Revenues decreased 17.8% to $58.3 million, compared with $70.9 million for the prior year quarter, primarily as a result of decreases in the Company’s title insurance business, partially offset by increases in investment income.
Net income was $7.6 million, or $4.00 per diluted share, for the three months ended June 30, 2023, compared to $2.3 million, or $1.20 per diluted share, for the prior year period.
Revenues decreased 17.8% to $58.3 million, compared with $70.9 million for the prior year quarter.
Operating expenses decreased 28.7% compared to the prior year period, primarily due to reductions in expenses which fluctuate with title insurance volume.
Income before income taxes increased to $9.8 million for the current quarter, versus $3.0 million in the prior year period.
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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