“Challenging market conditions continued into the first quarter,” said Ken DeGiorgio, chief executive officer at First American Financial Corporation. The net investment losses in the current quarter were $7 million, or 5 cents per diluted share, compared with net investment losses of $43 million, or 29 cents per diluted share, in the first quarter of last year. Net income in the current quarter was $46 million, or 44 cents per diluted share, compared with net income of $98 million, or 88 cents per diluted share, in the first quarter of 2022. Total revenue for the first quarter of 2023 was $1.4 billion, down 29 percent compared with the first quarter of 2022. In April, named one of the 100 Best Companies to Work For by Great Place to Work ® and Fortune Magazine for the eighth consecutive year Repurchased 555,524 shares for a total of $30 million at an average price of $54.75 Home Warranty segment pretax margin of 15.3 percentĭebt-to-capital ratio of 28.4 percent, or 20.1 percent excluding accumulated other comprehensive loss of $756 million and secured financings payable of $503 million Title Insurance and Services segment pretax margin of 6.5 percentĦ.1 percent excluding net investment gainsĬommercial revenues of $148 million, down 39 percent compared with last year Title Insurance and Services segment provision for policy losses and other claims reduced to 3.5 percent of title premiums and escrow fees, down from the previous loss rate of 4.0 percent Title Insurance and Services segment investment income of $125 million, up 136 percent compared with last year Net investment losses of $7 million compared with $43 million of net investment losses last year Title Insurance and Services segment total revenues of $1.3 billion, down 32 percent Total revenue of $1.4 billion, down 29 percent compared with last year

SANTA ANA, Calif.-( BUSINESS WIRE)-First American Financial Corporation (NYSE: FAF), a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today announced financial results for the first quarter ended March 31, 2023.Įarnings per diluted share of 44 cents, or 49 cents per share excluding 5 cents of net investment losses

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