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ITIC — Investors Title News Story

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Investors Title Q1 revenue rises 13%, profit nearly doubles

Overview

US title insurer's Q1 revenue rose 13% yr/yr on higher real estate activity

Q1 net income nearly doubled, with diluted EPS up to $3.20 from $1.67

Operating expenses rose 7% yr/yr, mainly due to higher agent commissions

Outlook

Company did not provide specific guidance for future quarters or the full year in its press release

Result Drivers

HIGHER REAL ESTATE ACTIVITY - Co said increased real estate activity boosted net premiums written and title-related fees

EXPANSION INITIATIVES - Ongoing expansion efforts contributed to revenue growth, per chairman J. Allen Fine

INVESTMENT GAINS - Favorable changes in fair value of equity security investments led to higher net investment gains

Company press release: ID:nBwNzCHYa

Key Details

MetricBeat/MissActualConsensus Estimate
Q1 Premiums Written$50.95 mln
Q1 EPS$3.20
Q1 Net Income$6.07 mln
Q1 Basic EPS$3.21
Q1 Operating Expenses$56.30 mln
Q1 Pretax Profit$7.72 mln
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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