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Jun 30, 2020
Stewart Q2 2020 Earnings Report
Reported an increase in operating revenues and net income compared to the prior year quarter.
Key Takeaways
Stewart Information Services Corporation reported strong second quarter 2020 results, with operating revenues of $506.8 million and net income of $34.1 million, driven by strong refinance transactions and recovery in purchase transactions.
Operating revenues increased by $40.3 million, or 9 percent, compared to the prior year quarter.
Net income increased to $34.1 million ($32.5 million on an adjusted basis) versus net income of $19.3 million in the prior year quarter.
Diluted EPS increased to $1.44 ($1.37 on an adjusted basis) compared to prior year quarter diluted EPS of $0.81.
Agency and international operations posted solid results, and ancillary services businesses benefited from the acquisition of U.S. Appraisals.
Stewart
Stewart
Stewart Revenue by Segment
Revenue by Segment
Title Segment Operating Revenues Revenue
CapyFin.com