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Dec 31, 2022
Stewart Q4 2022 Earnings Report
Net income and diluted EPS decreased due to historically low transaction volumes.
Key Takeaways
Stewart Information Services Corporation reported a decrease in total revenues to $655.9 million, compared to $961.7 million in the prior year quarter. Net income attributable to Stewart was $13.3 million, or $0.49 per diluted share, compared to $85.5 million, or $3.12 per diluted share, for the fourth quarter 2021.
Total revenues were $655.9 million ($643.2 million on an adjusted basis), compared to $961.7 million in the prior year quarter.
Net income was $13.3 million ($16.3 million on an adjusted basis), compared to $85.5 million in the prior year quarter.
Diluted EPS was $0.49 ($0.60 on an adjusted basis), compared to $3.12 in the prior year quarter.
Results were impacted by historically low transaction volumes due to the current economic environment and its impact on the housing industry.
Stewart
Stewart
Stewart Revenue by Segment
Revenue by Segment
Title Segment Operating Revenues Revenue
CapyFin.comReal Estate Solutions Revenues Revenue
CapyFin.com Forward Guidance
No specific forward guidance provided, but the company expects to continue managing operations with cost discipline and investment in capabilities. They anticipate a positive impact on their business over the long term and plan to invest opportunistically to build a more resilient company.
Positive Outlook
- Continued management of operations during a challenging environment.
- Reasonable balance of cost discipline.
- Investment in capabilities expected to have a positive impact on the business over the long term.
- Significant progress in becoming a stronger company.
- Excitement about welcoming BCHH to the Stewart family.
Challenges Ahead
- Fourth quarter results were impacted by historically low transaction volumes.
- The current economic environment has an impact on the housing industry.
- Lower revenues in the fourth quarter 2022.
- Decline in residential purchase and refinancing transactions.
- Lower transaction volume and size in domestic commercial revenues.
Revenue & Expenses
Visualization of income flow from segment revenue to net income