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Mar 31, 2024
First American Q1 2024 Earnings Report
First American Financial reported first quarter 2024 results, with earnings per diluted share of $0.45 and total revenue of $1.4 billion.
Key Takeaways
First American Financial Corporation reported a slight decrease in total revenue, down 1% compared to the first quarter of 2023. Net income remained relatively stable, increasing slightly from $46 million to $47 million. The company highlighted its focus on managing operating expenses and investing in strategic initiatives amidst challenging market conditions in the real estate and mortgage industries.
Earnings per diluted share were $0.45, both on a reported and adjusted basis.
Total revenue was $1.4 billion, a 1% decrease compared to the previous year.
The Title Insurance and Services segment reported investment income of $117 million, a 6% year-over-year decline.
The Home Warranty segment achieved a pretax margin of 19.3%.
First American
First American
First American Revenue by Segment
Revenue by Segment
Title Insurance and Services Revenue
CapyFin.comHome Warranty Revenue
CapyFin.com Forward Guidance
The company anticipates that market challenges will persist throughout the year, expecting modest revenue growth and title margins similar to those achieved in 2023.