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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
Stewart
Stewart
Stewart Revenue by Segment
Revenue by Segment
Title Segment Operating Revenues Revenue
CapyFin.comReal Estate Solutions Revenues Revenue
CapyFin.com 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