NASDAQ$ITIC
Investors Title Co · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported increased revenues and net income compared to the prior year period.
Investors Title Company reported a strong first quarter with a 4.1% increase in revenues to $53.5 million and a significant rise in net income to $4.5 million, or $2.40 per diluted share. The improved performance was driven by higher premiums written, increased net investment gains, and a decrease in operating expenses due to reduced staffing levels and overhead.
- Revenues increased by 4.1% to $53.5 million due to higher premiums written and net investment gains.
- Net income rose to $4.5 million, or $2.40 per diluted share, compared to $1.2 million, or $0.62 per diluted share, in the prior year period.
- Operating expenses decreased by 4.3% due to lower personnel expenses and overhead.
- Income before income taxes increased to $5.8 million, with adjusted income before income taxes (non-GAAP) rising to $3.4 million.
Headline financials
Revenue & EPS history
Investors Title · Revenue · Quarterly
$53.5M
Revenue by segment
Investors Title · $62.2M total across 6 segments · Q3 2023
- Net premiums written$49.8M-25.3%80.1%
- Escrow & title-related fees$4.68M-21.5%7.5%
- Non-title services$4.64M+20.4%7.5%
- Interest and dividends$2.31M—3.7%
- Other investment income$514K—0.8%
- Other revenue$257K—0.4%
Forward guidance
The company remains focused on expanding its market presence, enhancing competitive strengths, and maintaining disciplined expense management amidst challenging real estate market conditions.
Tailwinds
- Commitment to identifying and investing in opportunities for profitable expansion.
- Focus on improving competitive strengths.
- Taking a long-term view toward disciplined expense management.
- Mortgage originations increased nationally during the first quarter.
- Favorable impact on some key markets due to increased mortgage originations.
Headwinds
- Operating conditions remained challenging for the real estate market.
- Record low levels of housing affordability.
- Cyclical demand for title insurance due to changes in real estate markets.
- Potential variances between actual claims experience and underwriting assumptions.
- Impact of inflation and responses by government regulators.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+1.7%
Avg return
Earnings day
+1.8%
Avg return
5 days after
+2.1%
Avg return
30 days after
58%
37 / 64 earnings
Positive
+12.5%
Q3 2024
Best reaction
-6.0%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.2% | +0.6% | +3.1% | |
| Q4 2025 | +0.4% | -17.5% | -18.6% | |
| Q3 2025 | +6.5% | +4.6% | -5.5% | |
| Q1 2025 | +2.1% | -4.0% | -17.2% | |
| Q4 2024 | +4.2% | +4.1% | +8.5% | |
| Q3 2024 | +12.5% | +9.9% | +18.8% | |
| Q2 2024 | +3.4% | +5.0% | +14.8% | |
| Q1 2024 | -0.3% | -1.6% | +13.5% | |
| Q4 2023 | -2.3% | -5.5% | -6.0% | |
| Q3 2023 | +3.0% | +0.6% | +5.9% | |
| Q2 2023 | +1.6% | -0.5% | -3.9% | |
| Q1 2023 | -0.7% | -0.6% | -6.6% | |
| Q4 2022 | -1.0% | +1.4% | -7.2% | |
| Q3 2022 | +4.8% | +2.8% | +5.7% | |
| Q2 2022 | +1.5% | +0.9% | -11.9% | |
| Q1 2022 | -6.0% | -13.3% | -8.6% | |
| Q4 2021 | +4.9% | +1.2% | +5.0% | |
| Q3 2021 | +10.1% | +12.0% | -4.3% | |
| Q2 2021 | +9.1% | +11.7% | +15.4% | |
| Q1 2021 | +4.7% | +5.4% | +0.8% | |
| Q4 2020 | -0.2% | +0.9% | +3.7% | |
| Q3 2020 | +9.5% | +7.5% | +14.1% | |
| Q2 2020 | +3.5% | +6.8% | +13.9% | |
| Q1 2020 | +4.5% | +2.6% | +7.6% | |
| Q4 2019 | +4.0% | +9.7% | -14.1% | |
| Q3 2019 | -2.0% | -0.1% | +1.2% | |
| Q2 2019 | -2.3% | -2.4% | -3.7% | |
| Q1 2019 | -1.4% | -1.5% | -7.1% | |
| Q4 2018 | -4.8% | -4.6% | -2.8% | |
| Q3 2018 | +4.6% | +5.4% | +4.4% | |
| Q2 2018 | +1.7% | +1.6% | +1.0% | |
| Q1 2018 | -0.0% | +0.2% | -1.6% | |
| Q4 2017 | +0.5% | +2.9% | +3.5% | |
| Q3 2017 | -0.9% | -1.6% | +7.3% | |
| Q2 2017 | +1.6% | +2.2% | +0.0% | |
| Q1 2017 | +0.8% | +8.9% | +6.8% | |
| Q4 2016 | +4.6% | +5.7% | +7.6% | |
| Q3 2016 | +10.2% | +10.2% | +38.4% | |
| Q2 2016 | -0.8% | -1.3% | +1.3% | |
| Q1 2016 | -0.5% | — | — | |
| Q4 2015 | +2.6% | — | — | |
| Q3 2015 | +5.8% | — | — | |
| Q2 2015 | +1.8% | — | — | |
| Q1 2015 | -3.9% | — | — | |
| Q4 2014 | +8.3% | — | — | |
| Q3 2014 | -0.4% | — | — | |
| Q2 2014 | -0.8% | — | — | |
| Q1 2014 | -2.1% | — | — | |
| Q4 2013 | -0.7% | — | — | |
| Q3 2013 | +1.7% | — | — | |
| Q2 2013 | -0.0% | — | — | |
| Q1 2013 | +1.5% | — | — | |
| Q4 2012 | -0.5% | — | — | |
| Q3 2012 | +0.0% | — | — | |
| Q2 2012 | +4.6% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q1 2012 | +0.8% | — | — | |
| Q4 2011 | -4.2% | — | — | |
| Q3 2011 | +1.2% | — | — | |
| Q3 2010 | +1.2% | — | — | |
| Q2 2010 | +0.0% | — | — | |
| Q2 2011 | +0.0% | — | — | |
| Q4 2010 | +0.0% | — | — | |
| Q1 2010 | +0.3% | — | — |
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