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Mar 31, 2023
Stewart Q1 2023 Earnings Report
Reported a net loss due to historically low transaction volumes impacted by an elevated interest rate environment and a seasonally slower first quarter.
Key Takeaways
Stewart Information Services Corporation reported a net loss attributable to Stewart for the first quarter 2023 of $8.2 million ($0.30 per diluted share), compared to net income attributable to Stewart of $57.9 million ($2.11 per diluted share) for the first quarter 2022. Total revenues of $524.3 million compared to $852.9 million in the prior year quarter.
Total revenues of $524.3 million ($526.1 million on an adjusted basis) compared to $852.9 million ($815.0 million on an adjusted basis) in the prior year quarter
Net loss of $8.2 million ($6.8 million net loss on an adjusted basis) compared to net income of $57.9 million ($55.8 million on an adjusted basis) in the prior year quarter
Diluted loss per share of $0.30 ($0.25 diluted loss per share on an adjusted basis) compared to prior year quarter diluted earnings per share of $2.11 ($2.03 on an adjusted basis)
First quarter results were impacted by historically low transaction volumes, driven by an elevated interest rate environment, as well as a seasonally slower first quarter
Revenue by Segment
Forward Guidance
We remain focused on our long-term strategies of transforming Stewart into a stronger and more resilient company. We are managing our operations in this challenging environment by balancing cost discipline with investment opportunities that we expect will have a positive impact on our business over the long term. Stewart has made significant progress in becoming a stronger company and will continue to invest opportunistically to build a more resilient company.
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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