Stewart Q3 2024 Earnings Report

Reported net income attributable to Stewart of $30.1 million ($1.07 per diluted share).

Key Takeaways

Stewart Information Services Corporation reported improved third quarter results compared to the same quarter last year, with net income attributable to Stewart of $30.1 million, or $1.07 per diluted share. Strong topline performance in several lines of business drove the improved results, despite difficult residential purchase market conditions.

Net income attributable to Stewart was $30.1 million ($1.07 per diluted share) for Q3 2024, compared to $14.0 million ($0.51 per diluted share) for Q3 2023.

Adjusted net income for Q3 2024 was $33.1 million ($1.17 per diluted share) compared to $23.9 million ($0.86 per diluted share) in Q3 2023.

Title segment operating revenues in Q3 2024 increased by $31.2 million, or 6 percent, driven by higher revenues from domestic commercial and agency title operations.

Real estate solutions segment operating revenues in Q3 2024 increased by $28.2 million, or 41 percent, primarily due to improved revenues from credit information and valuation services.

Title Employee & Other OpEx % of Revenue

47%

Gross Profit

-$155B