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First American
🇺🇸 NYSE:FAF
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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.

Total Revenue
$1.69B
Previous year: $2.37B
-29.0%
EPS
$1.35
Previous year: $2.28
-40.8%
Avg Revenue/Order
$4.02K
Previous year: $3.34K
+20.4%
Gross Profit
-$655M
Previous year: $1.05B
-162.4%
Cash and Equivalents
$1.22B
Previous year: $1.23B
-0.3%
Total Assets
$15B
Previous year: $16.5B
-9.1%

First American

First American

First American 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

Company Overview

Full financial data and analysis

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