Stewart(US:STC) Prnewswireยท2025-02-05 21:15Core Viewpoint - Stewart Information Services Corporation reported significant growth in net income and revenues for the fourth quarter of 2024, demonstrating resilience in challenging macro-housing conditions [3][4][27]. Financial Performance - Net income attributable to Stewart for Q4 2024 was $22.7 million ($0.80 per diluted share), a substantial increase from $8.8 million ($0.32 per diluted share) in Q4 2023 [1][20]. - Adjusted net income for Q4 2024 was $31.5 million ($1.12 per diluted share), compared to $16.6 million ($0.60 per diluted share) in Q4 2023, reflecting a 90% increase [4][28]. - Total revenues for Q4 2024 reached $665.9 million, up 14% from $582.2 million in Q4 2023 [27]. Segment Performance - The title segment generated total revenues of $665.9 million in Q4 2024, compared to $582.2 million in the prior year quarter, marking a 14% increase [4][27]. - The real estate solutions segment saw operating revenues increase by 42% to $87.0 million in Q4 2024, driven by higher revenues from credit information and valuation services [11][12]. Expense Management - Consolidated employee costs increased by 12% to $199.4 million in Q4 2024, primarily due to higher incentive compensation and increased salaries [14]. - Other operating expenses rose by 25% to $159.1 million, driven by higher service expenses and outside search fees [15]. Investment Gains - Q4 2024 included $1.7 million in pretax net realized and unrealized gains, primarily from fair value changes of equity securities investments [2][27]. - In contrast, Q4 2023 had $4.8 million in pretax net realized and unrealized gains, indicating a decrease in investment performance year-over-year [2]. Cash Flow - Net cash provided by operations in Q4 2024 was $68.0 million, significantly higher than $39.5 million in Q4 2023, reflecting improved profitability [16][21].