UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-34580 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 26-1911571 ...

SANTA ANA, Calif.--(BUSINESS WIRE)--First American Data & Analytics, a leading national provider of property-centric information, risk management and valuation solutions and a division of First American Financial Corporation (NYSE: FAF), today released its January 2024 Home Price Index (HPI) report. The report tracks home price changes less than four weeks behind real time at the national, state and metropolitan (Core-Based Statistical Area) levels and includes metropolitan price tiers that segment sale tra ...

SANTA ANA, Calif.--(BUSINESS WIRE)--First American Title Insurance Company, a leading provider of title insurance and settlement services and the largest subsidiary of First American Financial Corporation (NYSE: FAF), today announced that it was named by HousingWire as a 2024 HW Tech100™ Real Estate winner. The HW Tech100 awards recognize the most innovative and impactful organizations in housing and the transformative impact these companies have made, propelling the real estate sector into new realms of ef ...

First American Financial Corporation (NYSE:FAF) Q4 2023 Earnings Conference Call February 8, 2024 11:00 AM ET Company Participants Craig Barberio - VP, IR Kenneth DeGiorgio - CEO & Director Mark Seaton - EVP & CFO Conference Call Participants Bose George - KBW Terry Ma - Barclays Bank Soham Bhonsle - BTIG John Campbell - Stephens Inc. Geoffrey Dunn - Dowling & Partners Securities Mark Hughes - Truist Securities Mark DeVries - Deutsche Bank Operator Greetings, and welcome to the First American Financial Corp ...

First American Financial Corporation (FAF) reported fourth-quarter 2023 operating income per share of 69 cents, which missed the Zacks Consensus Estimate by 8%. The bottom line declined 48.9% year over year.Operating revenues of $1.4 billion decreased 15.2% year over year due to lower direct premiums and escrow fees, agent premiums, and information and other. However, the top line beat the Zacks Consensus Estimate by 2.8%.The insurer’s mixed results reflect soft performances in the Title Insurance and Servi ...

First American Financial (FAF) came out with quarterly earnings of $0.69 per share, missing the Zacks Consensus Estimate of $0.75 per share. This compares to earnings of $1.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -8%. A quarter ago, it was expected that this financial services company would post earnings of $1.09 per share when it actually produced earnings of $1.22, delivering a surprise of 11.93%.Over the last fou ...

Analysts on Wall Street project that First American Financial (FAF) will announce quarterly earnings of $0.75 per share in its forthcoming report, representing a decline of 44.4% year over year. Revenues are projected to reach $1.39 billion, declining 17.5% from the same quarter last year.Over the last 30 days, there has been an upward revision of 9.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initia ...

The market expects First American Financial (FAF) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 7, 2024, might help the stock move higher if these ke ...

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 that its board of directors has declared a quarterly cash dividend of 53 cents per common share. The cash dividend is payable on March 15, 2024 to shareholders of record as of March 8, 2024. About First American First American Financial Corporation (NYSE: F ...

Financial Data and Key Metrics Changes - Commercial revenue was $160 million, a 39% decline compared to the previous year [6] - Average revenue per order for commercial transactions decreased by 15% to $10,763 [6] - Total revenue in the home warranty business was $108 million, a 3% increase year-over-year, with pretax income up 124% to $9.4 million [31] - Adjusted earnings per share were $1.22, excluding net investment losses of $164 million [81] - The effective tax rate for the quarter was 29.4%, higher than the normalized rate of 24% [31] Business Line Data and Key Metrics Changes - Purchase revenue decreased by 15%, driven by an 18% decrease in the number of orders closed, partially offset by a 3% increase in average revenue per order [30] - Refinance revenue declined by 41% due to rising mortgage rates [30] - Commercial open orders for the first three weeks of October were down 5% year-over-year and down 3% sequentially [28] - The title segment's pre-tax margin was 10.5%, or 12.0% on an adjusted basis [89] Market Data and Key Metrics Changes - Existing home sales have declined to the slowest annual pace since the global financial crisis, with commercial market sales down approximately 50% from the peak year of 2021 [85] - Open purchase orders in October were down 7% compared to September but up slightly year-over-year [79] - The company has an outsized share of the new home market, with new home-related purchase orders at 19% in October, above the historical average of 13% [11][12] Company Strategy and Development Direction - The company is focused on expense management and has highlighted the importance of investing for long-term growth while returning capital to shareholders [73] - The company is committed to enhancing operational efficiency through technology initiatives like Endpoint and instant decisioning for purchase transactions [20][42] - The company anticipates a cautious outlook for 2024, with concerns across all business segments, particularly in commercial and residential markets [67] Management's Comments on Operating Environment and Future Outlook - Management noted that refinance open orders remain at low levels, averaging 350 per day, and do not expect significant improvement in the near future [4] - The company expressed optimism about potential recovery in the commercial market, anticipating higher revenues in Q4 consistent with seasonal patterns [28] - Management acknowledged the challenges posed by rising interest rates and their impact on housing affordability, which is at its lowest point in over three decades [85] Other Important Information - The company repurchased $9 million of its shares in Q3 and has accelerated purchases in October, buying an additional $9 million [80] - The debt-to-capital ratio was reported at 29.7%, with a comfortable level of 23.5% when excluding secured financings payable [113] Q&A Session Summary Question: What is the outlook for investment income in Q4? - Management expects investment income to dip slightly in Q4 by about $5 million due to market conditions [17] Question: How is the company managing interest expense? - Interest expense in the title segment was $23.5 million this quarter, influenced by the cost of funds in banking operations [36] Question: What are the expectations for the commercial market? - Management noted a decline in large deals, with only four mega deals this quarter compared to seven a year ago, indicating a cautious outlook [64] Question: How is the home warranty business performing? - The home warranty business is performing well, with a loss ratio of 55%, down from 59% in 2022, driven by lower claim frequency and severity [31][58] Question: What is the company's approach to share buybacks? - The company has accelerated share repurchases, viewing them as an attractive alternative for returning capital to shareholders [46]