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Stewart Information Services (STC) investor relations material
Stewart Information Services Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong growth in 2025 with revenues up 18%, net income up 48%, and adjusted EPS up 46% year-over-year, despite a challenging residential market.
Full year 2025 revenues increased 17% to $2.92 billion, with net income up 58% to $115.5 million and adjusted net income up 48% to $139.6 million.
Gained market share and improved margins across all business segments, with significant organic growth and a key acquisition of Mortgage Contracting Services (NCS).
Enhanced financial flexibility through a $100 million credit facility upsize and a $140 million equity offering; increased annual dividend for the fifth consecutive year.
Diluted EPS for Q4 2025 was $1.25 (adjusted $1.65), and for the full year $4.05 (adjusted $4.89), both showing strong year-over-year growth.
Financial highlights
Fourth quarter 2025 revenue grew 20% and adjusted net income rose 52% year-over-year.
Q4 2025 revenues rose 19% year-over-year to $790.6 million, with net income up 60% to $36.3 million and adjusted net income up 52% to $47.9 million.
Title segment operating revenues up 19% ($106 million), with pre-tax income up 28% and adjusted pre-tax margin at 10%.
Real estate solutions segment revenues up 29% in Q4, with adjusted pre-tax income up 47%.
Book value per share at year-end was $54.30, up from $50.50 at year-end 2024.
Outlook and guidance
Expect modest improvements in the housing market in 2026, but not a full return to historic average existing home sales.
Anticipate continued commercial revenue growth, though at a moderated pace compared to 2025's 49% surge.
Real estate solutions segment margins expected to improve to low teens in 2026.
Title loss ratio expected to average 3.5%-4% in 2026.
Management remains focused on operational improvements and margin expansion as the real estate market gradually recovers.
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