Overview
Investors Title Q3 net income rises to $12.2 mln, driven by higher real estate activity
Revenue for Q3 increased 6.1% to $73.0 mln, supported by premiums and non-title services
Operating expenses rose 1.2% to $57.9 mln, mainly due to higher transaction volumes
Outlook
Company says strong open order pipeline positions it well for continued momentum
Result Drivers
REAL ESTATE ACTIVITY - Higher real estate activity levels drove growth in net premiums written and escrow fees
NON-TITLE SERVICES - Revenue from like-kind exchanges and management services increased by $2.0 mln
INVESTMENT GAINS - Higher realized gains from investment securities contributed to net investment gains
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Premiums Written | $56.40 mln | ||
Q3 EPS | $6.45 | ||
Q3 Net Income | $12.21 mln | ||
Q3 Basic EPS | $6.47 | ||
Q3 Operating Expenses | $57.93 mln | ||
Q3 Pretax Profit | $15.09 mln |
Press Release: ID:nBw3sPW1pa
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(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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