Fri, Feb 28, 3:49 PM (51 days ago)
Stewart Information Services Corporation (NYSE: STC) reported a strong financial performance for the fiscal year ended December 31, 2024. Total operating revenues reached $2,422 million, a 10% increase from 2023, driven by growth in title and real estate solutions services. Net income attributable to Stewart surged to $73.3 million ($2.61 per diluted share), compared to $30.4 million ($1.11 per diluted share) in the previous year. Operating expenses rose by 8% to $2,376 million, reflecting increased costs associated with higher revenues. The title segment generated $1,020 million in revenues, a 6% increase, while real estate solutions revenues grew by 42% to $358 million. The company's strategic focus on customer-centric services and technology integration is expected to enhance operational efficiency and market position. Key risk factors include economic fluctuations affecting real estate activity, regulatory compliance, and competition from alternative title products. As of December 31, 2024, Stewart maintained a healthy cash and investments balance of $926.6 million, ensuring liquidity for operational needs and potential acquisitions. The company declared a dividend of $2.00 per share, reflecting its commitment to returning value to shareholders. Overall, Stewart's outlook remains positive amid ongoing market challenges.