Stewart Information Services Corp. Files Q1 2024 10-Q Report

TL;DR

<b>Stewart Information Services Corp. filed its Q1 2024 10-Q report on May 7, 2024, detailing financial performance for the quarter ending March 31, 2024.</b>

AI Summary

STEWART INFORMATION SERVICES CORP (STC) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Stewart Information Services Corp. reported Q1 2024 results on May 7, 2024. The filing covers the period ending March 31, 2024. Key financial data from previous periods (Q1 2023, FY 2023, FY 2022) is included for comparison. The company operates in the Title Insurance industry (SIC 6361). Stewart Information Services Corp. is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking STEWART INFORMATION SERVICES CORP, this filing contains several important signals. This 10-Q filing provides a quarterly update on Stewart Information Services Corp.'s financial health and operational performance, crucial for investors and stakeholders to assess recent trends and make informed decisions. The inclusion of comparative data from prior periods allows for an analysis of the company's performance trajectory and helps identify any significant changes or patterns in revenue, expenses, and other key financial metrics.

Risk Assessment

Risk Level: low — STEWART INFORMATION SERVICES CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant negative news or events that would elevate the risk level.

Analyst Insight

Monitor future filings for detailed segment performance and any commentary on market conditions impacting title insurance and real estate solutions.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q filing)
• 2024-05-07 — Filing Date (10-Q filing)
• 6361 — Standard Industrial Classification (Title Insurance)

Key Players & Entities

• STEWART INFORMATION SERVICES CORP (company) — Filer name
• STC (company) — Ticker symbol
• 10-Q (regulator) — Form type
• 2024-03-31 (date) — Conformed period of report
• 2024-05-07 (date) — Filed as of date
• 6361 (industry) — Standard Industrial Classification
• DE (location) — State of incorporation
• 7136258100 (phone) — Business phone

FAQ

Industry Context

Stewart Information Services Corp. operates within the financial services sector, specifically focusing on title insurance and related real estate services.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly reports (10-Q) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Analyze segment performance data once available in the detailed financial tables within the report.
3. Compare Q1 2024 results against Q1 2023 and prior periods to identify trends.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing is a standard quarterly report (10-Q) and does not represent a change in filing type or frequency from previous periods.

Key Financial Figures

• $1 — ange on which registered Common Stock, $1 par value per share STC New York Stoc
• $000 — ee Months Ended March 31, 2024 2023 ($000 omitted, except per share) Revenues T

Filing Documents

• stc-20240331.htm (10-Q) — 875KB
• ex101form2024stockunitaward.htm (EX-10.1) — 29KB
• ex102form2024restrictedsto.htm (EX-10.2) — 36KB
• q1-2024ex311.htm (EX-31.1) — 11KB
• q1-2024ex312.htm (EX-31.2) — 11KB
• q1-2024ex321.htm (EX-32.1) — 5KB
• q1-2024ex322.htm (EX-32.2) — 5KB
• 0000094344-24-000009.txt (&nbsp;) — 5127KB
• stc-20240331.xsd (EX-101.SCH) — 33KB
• stc-20240331_cal.xml (EX-101.CAL) — 93KB
• stc-20240331_def.xml (EX-101.DEF) — 120KB
• stc-20240331_lab.xml (EX-101.LAB) — 392KB
• stc-20240331_pre.xml (EX-101.PRE) — 275KB
• stc-20240331_htm.xml (XML) — 688KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1. Financial Statements 3 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 16 3. Quantitative and Qualitative Disclosures About Market Risk 26 4. Controls and Procedures 26

– OTHER INFORMATION

PART II – OTHER INFORMATION 1. Legal Proceedings 27 1A. Risk Factors 27 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 5. Other Information 27 6. Exhibits 28 Signature 28 As used in this report, "we," "us," "our," "Registrant," the "Company" and "Stewart" mean Stewart Information Services Corporation and our subsidiaries, unless the context indicates otherwise. 2

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED) Three Months Ended March 31, 2024 2023 ($000 omitted, except per share) Revenues Title revenues: Direct operations 210,588 207,871 Agency operations 240,772 249,021 Real estate solutions 83,016 62,592 Operating revenues 534,376 519,484 Investment income 12,901 6,599 Net realized and unrealized gains (losses) 7,038 ( 1,778 ) 554,315 524,305 Expenses Amounts retained by agencies 199,976 205,738 Employee costs 172,417 170,551 Other operating expenses 136,951 120,743 Title losses and related claims 17,383 17,674 Depreciation and amortization 15,384 14,906 Interest 5,058 4,849 547,169 534,461 Income (loss) before taxes and noncontrolling interests 7,146 ( 10,156 ) Income tax (expense) benefit ( 936 ) 4,938 Net income (loss) 6,210 ( 5,218 ) Less net income attributable to noncontrolling interests 3,080 2,972 Net income (loss) attributable to Stewart 3,130 ( 8,190 ) Net income (loss) 6,210 ( 5,218 ) Other comprehensive (loss) income, net of taxes: Foreign currency translation adjustments ( 4,470 ) 598 Change in net unrealized gains and losses on investments ( 2,276 ) 6,617 Reclassification adjustments for realized gains and losses on investments 150 92 Other comprehensive (loss) income, net of taxes: ( 6,596 ) 7,307 Comprehensive (loss) income ( 386 ) 2,089 Less net income attributable to noncontrolling interests 3,080 2,972 Comprehensive loss attributable to Stewart ( 3,466 ) ( 883 ) Basic average shares outstanding (000) 27,512 27,201 Basic earnings (loss) per share attributable to Stewart 0.11 ( 0.30 ) Diluted average shares outstanding (000) 28,027 27,201 Diluted earnings (loss) per share attributable to Stewart 0.11 ( 0.30 ) See notes to condensed consolidated financial statements. 3 CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 (Unaudited) December 31, 2023 ($000 omitted) Ass

View Full Filing

View this 10-Q filing on SEC EDGAR