Investors Title Q3 profit rises on growth in net premiums written

Reuters11-05
Investors Title Q3 profit rises on growth in net premiums written

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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