Stewart Q1 2021 Earnings Report

Stewart reported first quarter results with significant revenue and net income growth, driven by strong residential real estate transaction activity and strategic acquisitions.

Key Takeaways

Stewart Information Services Corporation reported a substantial increase in revenue and net income for Q1 2021. Operating revenues increased by 53% to $681.4 million, and net income rose to $54.2 million, a significant increase from $5.2 million in the prior year quarter. The company's performance was boosted by strong trends in residential real estate and contributions from international and ancillary services.

Operating revenues increased by 53% year-over-year, reaching $681.4 million.

Net income increased significantly to $54.2 million, compared to $5.2 million in the same quarter last year.

Diluted EPS increased to $2.01, up from $0.22 in the prior year quarter.

Title segment pretax margin improved to 12.2%, a substantial increase from 3.4% in the prior year quarter.