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Dec 31, 2022
First American Q4 2022 Earnings Report
First American Financial's Q4 2022 financial results were reported, showing a decrease in revenue and earnings compared to the previous year, but expense management and investment income growth helped mitigate the impact of the challenging real estate market.
Key Takeaways
First American Financial Corporation reported a 29% decrease in total revenue to $1.7 billion for Q4 2022, with earnings per diluted share at $0.52. The company's results were impacted by a cyclical decline in the real estate market, but were partially offset by expense management and growth in investment income. The company returned $658 million to shareholders through share repurchases and dividends in 2022.
Earnings per diluted share were $0.52, or $1.35 excluding $0.83 of net investment losses.
Total revenue was $1.7 billion, a 29% decrease compared to the previous year.
Commercial title revenues decreased by 34% to $251 million.
Title Insurance and Services segment investment income increased by 169% to $132 million.
Revenue by Segment
Forward Guidance
First American anticipates early signs of stabilization in the purchase market and believes the company is well-positioned for long-term growth, planning to continue investing in strategic initiatives, pursuing acquisitions, and returning capital to shareholders.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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