First American (FAF) Q4 Earnings Miss, Revenues Decline Y/Y

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 ...