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Mar 31, 2020
First American Q1 2020 Earnings Report
First American's Q1 2020 earnings were reported, revealing a revenue increase of 8% compared to the previous year, driven by a surge in closed title orders, though net income was impacted by investment losses.
Key Takeaways
First American Financial Corporation reported a revenue increase of 8% to $1.4 billion for Q1 2020. Net income decreased to $63.2 million, or 55 cents per diluted share, compared to $109.6 million, or 97 cents per diluted share, in Q1 2019, impacted by net realized investment losses.
Total revenue increased by 8% year-over-year to $1.4 billion.
Net income was $63.2 million, or 55 cents per diluted share.
Closed title orders rose by 34%, fueled by a 144% increase in refinance orders.
The company repurchased 1.7 million shares for $65.8 million, averaging $38.64 per share.
Revenue by Segment
Forward Guidance
The company believes the adoption of digital title and closing processes will accelerate as a result of the pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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