HOUSTON--(BUSINESS WIRE)--Stewart Information Services Corporation (NYSE: STC) today announced that Matt Orlando has been named President of Informative Research (IR), a leading provider of credit, consumer, and real estate data and technology services. Orlando will lead IR's growth strategy and product development as part of Stewart's vision to create a comprehensive, customer-focused real estate services platform. "Matt's leadership and deep industry expertise will accelerate IR's ability to. ...

Group 1 - Stewart Information Services Corporation announced a public offering of 1,900,000 shares of common stock at a price of $68.00 per share, with expected gross proceeds of approximately $129.2 million, or $148.6 million if the underwriters fully exercise their option for an additional 285,000 shares [1] - The offering is anticipated to close on December 12, 2025, subject to customary closing conditions [1] - Goldman Sachs & Co. LLC is the lead book-running manager for the offering, with Citizens Capital Markets as the book-running manager and several firms acting as co-managers [2] Group 2 - A registration statement and preliminary prospectus supplement related to the securities have been filed with the Securities and Exchange Commission, and the registration statement became automatically effective upon filing [3] - The offering is being made only by means of a prospectus supplement, and a copy of the final prospectus supplement will be available from Goldman Sachs [3] Group 3 - Stewart Information Services Corporation is a global real estate services company, providing a range of products and services including title insurance, closing and settlement services, and specialized offerings for the mortgage industry [5]

HOUSTON--(BUSINESS WIRE)--Stewart Information Services Corporation (NYSE: STC) ("Stewart†or the "Company†) today announced it has commenced an underwritten public offering of 1,900,000 shares of its common stock. All of the shares of common stock are being offered by Stewart. In addition, Stewart intends to grant the underwriters a 30-day option to purchase up to an additional 285,000 shares of its common stock. The offering is subject to market and other conditions and there can be no assuran. ...

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Core Insights - Stewart Information Services Corporation will participate in the Stephens Annual Investment Conference on November 19, 2025, with CEO Fred Eppinger and CFO David Hisey leading a fireside chat [1] - Interested investors can access a live webcast of the presentation on Stewart's Investor Relations website, with a replay available afterward [2] - Stewart is a global real estate services company providing a range of products and services, including title insurance and closing services, aiming to be the premier title services company [3] Company Developments - Stewart announced its intent to acquire Mortgage Contracting Services (MCS), enhancing its real estate services portfolio by integrating property preservation services [6] - The company will hold a conference call on October 23, 2025, to discuss its third quarter 2025 earnings, following the earnings release on October 22 [7] - In response to new Anti-Money Laundering regulations, Stewart launched FINCEN Reporting Services to assist its title and closing customers with compliance [8]

Revenue Growth - Direct title revenues increased to $299,690,000 in Q3 2025 from $270,706,000 in Q3 2024, representing a growth of 10.5%[10] - Agency title revenues rose to $360,186,000 in Q3 2025 compared to $282,549,000 in Q3 2024, marking a significant increase of 27.5%[10] - Operating revenues for the nine months ended September 30, 2025, reached $2,077,954,000, up from $1,772,416,000 in the same period of 2024, reflecting a growth of 17.2%[10] - Total operating revenues for the nine months ended September 30, 2025, reached $2.078 billion, up 17.2% from $1.772 billion in the same period of 2024[24] - Consolidated operating revenues for Q3 2025 were $776.5 million, an increase of $126.9 million, or 20%, compared to the prior year quarter[51] - The title segment generated revenues of $678.9 million in Q3 2025, a 19% increase from $571.6 million in Q3 2024, driven by a $106.6 million increase in operating revenues[47][52] - The real estate solutions segment's revenues increased by 21% to $116.6 million in Q3 2025, compared to $96.4 million in Q3 2024[55][56] - Total revenues from U.S. operations were $747.4 million in Q3 2025, up from $629.0 million in Q3 2024, reflecting a 19% increase[49] Net Income and Earnings - Net income attributable to Stewart increased to $44,259,000 in Q3 2025, compared to $30,096,000 in Q3 2024, a rise of 47.1%[10] - Basic earnings per share attributable to Stewart improved to $1.58 in Q3 2025 from $1.09 in Q3 2024, an increase of 45%[10] - Net income attributable to Stewart for the nine months ended September 30, 2025, was $79.258 million, compared to $50.569 million for the same period in 2024, representing a 56.8% increase[14] - The company reported net income of $44.3 million ($1.55 per diluted share) for Q3 2025, up from $30.1 million ($1.07 per diluted share) in Q3 2024, representing a 47% increase in net income[51] Cash Flow and Investments - Cash provided by operating activities for the nine months ended September 30, 2025, was $116,146,000, compared to $67,656,000 in the same period of 2024, indicating a growth of 71.7%[13] - Cash and cash equivalents at the end of Q3 2025 were $188,518,000, a decrease from $216,298,000 at the beginning of the period[13] - Cash claim payments increased by $1.5 million (8%) in Q3 2025 compared to the prior year quarter, while decreasing by $13.0 million (19%) in the first nine months of 2025[87] - Cash flows from operations and cash available from underwriters are expected to be sufficient to fund operations, including claims payments, despite potential needs for additional debt or equity funding[105] Equity and Stockholder Information - Total stockholders' equity attributable to Stewart increased to $1,473,418,000 as of September 30, 2025, from $1,402,142,000 at the end of 2024, a rise of 5.1%[12] - The balance of total equity as of September 30, 2025, was $1.482 billion, an increase from $1.414 billion as of September 30, 2024[16] - The company declared dividends on common stock of $1.53 per share for the nine months ended September 30, 2025, compared to $1.45 per share in 2024[14] - Total dividends paid increased to $42.6 million ($1.53 per common share) in the first nine months of 2025, compared to $40.0 million ($1.45 per common share) in the same period of 2024[104] Expenses and Losses - The company experienced an increase in estimated title losses to $520,445,000 as of September 30, 2025, compared to $511,534,000 at the end of 2024[12] - Title loss expense decreased by $1.7 million (8%) in Q3 2025, with the loss expense as a percentage of title operating revenues improving to 3.0% from 3.8% in Q3 2024[53] - Consolidated other operating expenses increased by $29.5 million (19%) in Q3 2025 and $74.7 million (17%) in the first nine months of 2025 compared to the same periods in 2024[82] - Provisions for title losses improved to 3.0% of title operating revenues in Q3 2025, down from 3.8% in Q3 2024, with total title loss expense decreasing by $1.7 million (8%) in Q3 2025[84] Employee and Operational Metrics - Employee costs in the title segment increased by $27.0 million (10%) in Q3 2025, attributed to higher salaries and increased employee count[52] - Consolidated employee costs rose by $17.4 million (9%) in Q3 2025 and $59.3 million (11%) in the first nine months of 2025 compared to the same periods in 2024, primarily due to higher salaries and benefits[78] - The average employee count increased by 9% in Q3 2025 compared to Q3 2024, with approximately 7,400 employees[79] - Total employee costs as a percentage of total operating revenues improved to 27.2% in Q3 2025 from 29.8% in Q3 2024, reflecting higher operating revenues[79] Debt and Financing - The company entered into a new senior unsecured credit agreement providing a $300 million revolving credit facility maturing in October 2030[23] - Total debt and stockholders' equity were $446.1 million and $1.48 billion, respectively, as of September 30, 2025, with improved debt-to-equity and debt-to-capitalization ratios of approximately 30% and 23% compared to 32% and 24% at December 31, 2024[103] Market and Economic Conditions - Total U.S. single-family mortgage originations in Q3 2025 were $518 billion, a 14% increase compared to Q3 2024, with refinancing transactions growing by 46%[65] - Existing home sales in September 2025 were approximately 4.06 million units, a 4% increase from September 2024, attributed to falling mortgage rates[64] - The average 30-year fixed mortgage interest rate was 6.6% in Q3 2025, slightly improved from 6.8% in Q2 2025[65] - The unsold home inventory in the U.S. was 1.55 million units as of September 2025, a 14% increase compared to the previous year[64]

Core Insights - Outlook Wealth Advisors sold 49,831 shares of Stewart Information Services Corporation for approximately $3.4 million in the third quarter, reducing its holdings to 49,836 shares valued at $3.7 million as of September 30 [2][6]. Company Overview - Stewart Information Services Corporation reported a revenue of $2.7 billion and a net income of $87.8 million for the trailing twelve months (TTM) [4]. - The company has a dividend yield of 3.1% and its share price was $68.27 as of the market close on Friday [4]. Recent Performance - Stewart's third-quarter report indicated a 19% year-over-year revenue growth to $797 million and a 47% increase in net income to $44.3 million, with earnings per share (EPS) rising to $1.55 from $1.07 [7]. - The company benefits from improving commercial transaction volumes and disciplined cost control, achieving an adjusted pretax margin of 8.1% [7]. Market Position - Stewart Information Services Corporation is a leading provider of title insurance and real estate transaction services, operating through a network of direct offices and independent agencies [5]. - The company's diversified offerings support both residential and commercial real estate transactions, positioning it as a key partner in the real estate and mortgage value chain [5]. Investment Perspective - The sale of shares by Outlook Wealth Advisors may indicate portfolio rebalancing rather than a negative outlook, especially following Stewart's strong earnings performance [6]. - The company's stable cash flow, growing margins, and modest valuation suggest potential for further upside if the housing market recovers [8].

Financial Data and Key Metrics Changes - The company reported a 19% revenue growth and a 40% earnings growth in the third quarter compared to the same period last year [3][6] - Net income for the third quarter was $44 million, or $1.55 per diluted share, with adjusted net income improving 41% to $47 million, or $1.64 per diluted share [14][15] - Adjusted pre-tax margin improved to 9% compared to 7.7% last year [15][16] - Total cash and investments were approximately $390 million in excess of statutory premium reserve requirements [17] Business Line Data and Key Metrics Changes - Direct operations unit grew 8% in the third quarter relative to the same period last year [6][7] - Domestic commercial revenues improved by 17% in the quarter, with a total growth of 33% year-to-date [8] - Agency services business saw revenues up 28% year-over-year in the third quarter [9] - Real estate solutions segment generated revenue 21% higher than the third quarter of 2024, primarily driven by credit information services [10] Market Data and Key Metrics Changes - Existing home sales are expected to increase by 1% to 2% compared to the third quarter of 2024 [5] - The median sales price of existing homes sold is still increasing year-over-year, but at a lesser rate than in previous periods [5][6] - The company anticipates a gradual improvement in the housing market over the next year, with a target of 5 million existing homes sold in 2026 [6] Company Strategy and Development Direction - The company is focused on targeted acquisitions to drive future growth, particularly in small commercial transactions [7][8] - There is an emphasis on expanding geographic presence and deepening capabilities in various asset classes [8][11] - The company announced an increase in its annual dividend from $2 per share to $2.10 per share, marking the fifth consecutive year of dividend increases [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the market's ability to improve over the next 12 months, citing a more favorable housing market for buyers [4][6] - The company is well-positioned to take advantage of market improvements, with expectations of continued revenue and earnings growth [42][43] - Management noted that while the market remains challenging, the company has demonstrated momentum in growing share and improving earnings [42][43] Other Important Information - The company was recognized as a top workplace by USA Today and ranked as the best employer for women in 2025 by Forbes [12][13] - The title loss ratio for the third quarter was 3%, down from 3.8% last year, with expectations to average between 3.5% to 4% in the coming period [16] Q&A Session Summary Question: Strength in agent premiums and market share - Management noted a 16.5% growth in targeted states, indicating share shift from larger players and improved service capabilities [21][22] Question: Pipeline for commercial business - Management expressed confidence in the commercial pipeline, with significant growth across various asset classes, although office space has not contributed significantly [23][24] Question: Investment income line performance - Management indicated variability in investment income due to short-term rate cuts but did not foresee significant impacts [25][26] Question: Expectations for low teens margin in real estate solutions - Management explained that achieving low teens margins is tied to market recovery and volume growth, with expectations for improvement as the market stabilizes [33][34]

Financial Data and Key Metrics Changes - The company reported a 19% revenue growth and a 40% earnings growth in the third quarter compared to the previous year, despite challenges in the housing market [3][6][14] - Net income for the third quarter was $44 million, or $1.55 per diluted share, based on revenues of $797 million, with adjusted net income improving 41% to $47 million, or $1.64 per diluted share [14][15] - Adjusted pre-tax margin improved to 9% compared to 7.7% last year [15] Business Line Data and Key Metrics Changes - Direct operations unit grew 8% in the third quarter relative to the same period last year, with commercial transactions growing 18% [6][7] - Agency services business saw revenues up 28% year over year, driven by improved volumes in key states [9][16] - Real estate solutions segment revenues improved by 21%, primarily due to credit information and valuation services [10][16] Market Data and Key Metrics Changes - Existing home sales are expected to increase by 1%-2% compared to the third quarter of 2024, with current sales hovering around 4 million annual units [5][6] - The median sales price of existing homes continues to rise year over year, although at a slower rate than in previous months [5][6] - The commercial real estate market is recovering, with the company benefiting from increased penetration across various asset classes [6][8] Company Strategy and Development Direction - The company aims to grow through targeted acquisitions and expanding its geographic presence, particularly in Canada and key U.S. states [11][12] - Focus on enhancing service capabilities and technology to improve market share, especially in commercial transactions [21][22] - Continued investment in talent and capabilities to leverage underwriting strengths and expand into new markets [8][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the housing market's gradual improvement over the next year, anticipating a return to a more normal sales environment [6][42] - The company is well-positioned to capitalize on market improvements, with expectations of continued revenue and earnings growth [42][43] - Management noted that while the market remains challenging, the company has demonstrated momentum in growth and share acquisition [42][43] Other Important Information - The company announced an increase in its annual dividend from $2 per share to $2.10 per share, marking the fifth consecutive year of dividend increases [11] - Total cash and investments were approximately $390 million in excess of statutory premium reserve requirements [17] Q&A Session Summary Question: Strength in agent premiums and market share - Management noted a 16.5% growth in targeted states, indicating share shift from larger players and improved service capabilities [21][22] Question: Pipeline for commercial business - The pipeline looks strong with a 35% increase in orders, although office contributions remain limited [23][24] Question: Investment income line performance - Management indicated variability due to short-term rate cuts but noted that balances have offset some impacts [25][26] Question: Expectations for margins in real estate solutions - Management expects low teens margins as relationships mature, with potential for mid-teens margins as market conditions improve [33][34] Question: Sensitivity to net interest income from Fed rate cuts - Management discussed the impact of rate cuts on interest income, emphasizing the need to monitor balances and volume growth [38][39]

Financial Data and Key Metrics Changes - The company reported a 19% revenue growth and a 40% earnings growth in Q3 2025 compared to the same period last year, with total revenues reaching $797 million and net income of $44 million or $1.55 per diluted share [3][16] - Adjusted net income improved 41% to $47 million or $1.64 per diluted share compared to $33 million or $1.17 per diluted share in Q3 2024 [16] - Adjusted pre-tax margin improved to 9% compared to 7.7% last year [16] Business Line Data and Key Metrics Changes - The title segment saw operating revenues grow by $107 million or 19%, with adjusted title pre-tax income increasing by $17 million or 40% [16][17] - Domestic commercial revenues improved by $12 million or 17%, while domestic residential average fee per file increased by 6% to $3,200 [17] - Agency services business revenues increased by 28% year over year, driven by improved volumes in key states [10][18] - Real estate solutions segment revenues improved by 21%, primarily due to credit information and valuation services operations [11][18] Market Data and Key Metrics Changes - Existing home sales are expected to increase by 1% to 2% relative to Q3 2024, with current sales hovering around 4 million annual units [5][6] - The company anticipates a gradual improvement in the housing market over the next year, with a target of 5 million existing homes sold in 2026 [6] Company Strategy and Development Direction - The company is focused on targeted acquisitions and expanding its market share in small commercial transactions, with a warm pipeline of acquisition targets [8][12] - There is a commitment to geographic, customer, and channel expansion to strengthen the company's long-term success [12] - The company announced an increase in its annual dividend from $2 per share to $2.10 per share, marking the fifth consecutive year of dividend increases [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the market's ability to improve over the next 12 months, citing a blend of positive and negative economic headlines related to housing [3][4] - The company believes it is well-positioned to take advantage of market improvements, with expectations of continued revenue and earnings growth [36][37] Other Important Information - The company was recognized as a top workplace by USA Today and ranked as the best employer for women in 2025 by Forbes [13][14] - Total Stewart stockholders' equity at September 30, 2025, was approximately $1.5 billion, with a book value of $52.58 per share [19] Q&A Session Summary Question: Strength in agent premiums and market share - Management noted a 16.5% growth in targeted states, indicating share shift and improved service capabilities [22][23] Question: Pipeline outlook for commercial business - The pipeline is strong, with commercial orders up 35%, and larger accounts up 39%, although office contributions remain limited [25][26] Question: Investment income line performance - Management indicated variability in investment income due to short-term rate cuts but has not seen significant impacts yet [26][27] Question: Expectations for low teens margin in real estate solutions - A critical revenue level is tied to market conditions, with expectations of mid-teens margins as the market normalizes [29][30]