Stewart Information Services Corp. Q3 2024 10-Q Filed

TL;DR

**STEWART INFO SERVICES CORP (STC) Q3 2024 10-Q FILED. CHECK FINANCIALS.**

AI Summary

Stewart Information Services Corp. filed its Q3 2024 10-Q report on November 6, 2024, covering the period ending September 30, 2024. The company operates in the title insurance sector, with segments including Title Direct Operations, Title Agency Operations, and Real Estate Solutions and Other. Financial results for the third quarter and the first nine months of 2024 are detailed within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Stewart Information Services Corp., crucial for understanding the company's operational health and market position in the real estate services sector.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks.

Key Numbers

• Q3 2024 — Reporting Period (Third quarter financial performance)
• Nine Months Ended September 30, 2024 — Year-to-Date Period (First nine months financial performance)

Key Players & Entities

• STEWART INFORMATION SERVICES CORP (company) — Filer
• 0000094344-24-000018 (other) — Accession Number
• 20240930 (date) — Period of Report
• 20241106 (date) — Filed as of Date
• 7136258100 (other) — Business Phone

FAQ

Key Financial Figures

• $1 — ange on which registered Common Stock, $1 par value per share STC New York Stoc
• $000 — d September 30, 2024 2023 2024 2023 ($000 omitted, except per share) Revenues T

Filing Documents

• stc-20240930.htm (10-Q) — 1162KB
• q3-2024ex311.htm (EX-31.1) — 11KB
• q3-2024ex312.htm (EX-31.2) — 11KB
• q3-2024ex321.htm (EX-32.1) — 5KB
• q3-2024ex322.htm (EX-32.2) — 5KB
• 0000094344-24-000018.txt ( ) — 5794KB
• stc-20240930.xsd (EX-101.SCH) — 34KB
• stc-20240930_cal.xml (EX-101.CAL) — 95KB
• stc-20240930_def.xml (EX-101.DEF) — 122KB
• stc-20240930_lab.xml (EX-101.LAB) — 398KB
• stc-20240930_pre.xml (EX-101.PRE) — 279KB
• stc-20240930_htm.xml (XML) — 871KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1. Financial Statements 3 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 17 3. Quantitative and Qualitative Disclosures About Market Risk 27 4. Controls and Procedures 27

– OTHER INFORMATION

PART II – OTHER INFORMATION 1. Legal Proceedings 28 1A. Risk Factors 28 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 5. Other Information 28 6. Exhibits 29 Signature 29 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 INCOME AND COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 ($000 omitted, except per share) Revenues Title revenues: Direct operations 270,706 256,377 736,774 722,242 Agency operations 282,549 265,700 764,081 723,476 Real estate solutions 96,346 68,190 271,561 202,169 Operating revenues 649,601 590,267 1,772,416 1,647,887 Investment income 13,626 13,393 40,833 32,114 Net realized and unrealized gains (losses) 4,714 ( 1,946 ) 11,238 ( 4,829 ) 667,941 601,714 1,824,487 1,675,172 Expenses Amounts retained by agencies 233,980 218,983 634,083 596,498 Employee costs 193,862 181,493 545,987 534,710 Other operating expenses 155,646 130,455 444,890 380,530 Title losses and related claims 21,282 22,251 59,754 59,727 Depreciation and amortization 15,480 16,414 46,062 46,848 Interest 4,899 5,054 14,768 14,777 625,149 574,650 1,745,544 1,633,090 Income before taxes and noncontrolling interests 42,792 27,064 78,943 42,082 Income tax expense ( 9,123 ) ( 9,134 ) ( 17,999 ) ( 9,588 ) Net income 33,669 17,930 60,944 32,494 Less net income attributable to noncontrolling interests 3,573 3,931 10,375 10,870 Net income attributable to Stewart 30,096 13,999 50,569 21,624 Net income 33,669 17,930 60,944 32,494 Other comprehensive income (loss), net of taxes: Foreign currency translation adjustments 4,842 ( 5,847 ) ( 884 ) ( 995 ) Change in net unrealized gains and losses on investments 13,015 ( 7,468 ) 10,853 ( 6,616 ) Reclassification adjustments for realized gains and losses on investments 402 20 942 333 Other comprehensive income (loss), net of taxes: 18,259 ( 13,295 ) 10,911 ( 7,278 ) Comprehensive income 51,928 4,635 71,855 25,216 Less net income attributable to noncontrolling interests 3,573 3,931 10,375 10,870 Comprehensive income attributable to Stewart 48,355 704 61,480 14,346 Basic average share

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