First American Q1 2021 Earnings Report

Reported first quarter earnings with a diluted EPS of $2.10 and total revenue of $2.0 billion, marking a 43% increase compared to the previous year.

Key Takeaways

First American Financial Corporation reported strong first-quarter results, with a significant increase in total revenue and net income compared to the same period last year. The company's title segment achieved a record pretax margin for the first quarter, driven by strong purchase, refinance, and commercial markets. Strategic venture investments also contributed to the company's financial performance.

Total revenue increased by 43% to $2.0 billion compared to the previous year.

Net income reached $233.6 million, or $2.10 per diluted share, up from $63.2 million, or 55 cents per diluted share, in the first quarter of 2020.

The Title Insurance and Services segment achieved a record first-quarter pretax margin of 17.1%.

Venture investments contributed $42 million in gains and provided strategic partnerships.

Total Revenue

$2.03B

Previous year: $1.41B