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Dec 31, 2021
Stewart Q4 2021 Earnings Report
Stewart's Q4 2021 results were reported, showing increased operating revenues and net income compared to the prior year quarter.
Key Takeaways
Stewart Information Services Corporation reported Q4 2021 results with operating revenues of $951.4 million, a 31% increase year-over-year. Net income was $85.5 million, compared to $59.7 million in the prior year quarter, and diluted EPS was $3.12, up from $2.22 in the prior year quarter. The company highlighted improvements in purchase, commercial, and agency activity offsetting declining refinancing volumes.
Operating revenues increased by 31% to $951.4 million compared to the prior year quarter.
Net income rose to $85.5 million, up from $59.7 million in the same quarter of the previous year.
Diluted EPS increased to $3.12, compared to $2.22 in the prior year quarter.
The company saw improvements in purchase, commercial, and agency activity, which compensated for reduced refinancing volumes.
Revenue by Segment
Forward Guidance
While the past quarter reflects the start of a broader market shift away from some of the interest rate-driven order activity of the past couple of years, Stewart sees opportunity in a market that is more heavily weighted to residential home buying and improving commercial activity and Stewart's goal has always been to build a stable and resilient business that can thrive through the full real estate cycle
Positive Outlook
- Opportunity in residential home buying market
- Opportunity in improving commercial activity
- Goal to build a stable and resilient business
- Ability to thrive through the full real estate cycle
- Continued focus on operational discipline
Challenges Ahead
- Market shift away from interest rate-driven order activity
- Declining refinancing volumes
- Volatility of economic conditions
- Adverse changes in the level of real estate activity
Historical Earnings Impact
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Avg. Return Before/After Earnings
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