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First American Financial (FAF) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2 min read

First American Financial (FAF) reported $1.42 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.5%. EPS of $0.45 for the same period compares to $0.49 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.46 billion, representing a surprise of -2.62%. The company delivered an EPS surprise of -32.84%, with the consensus EPS estimate being $0.67.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how First American Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- Net investment income: $127.90 million versus the two-analyst average estimate of $137.11 million. The reported number represents a year-over-year change of -4.6%.

  • Revenues- Agent premiums: $563.80 million versus $587.64 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.5% change.

  • Revenues- Direct premiums and escrow fees: $0 million versus $492.70 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -100% change.

  • Revenues- Information and other: $223 million versus the two-analyst average estimate of $225.48 million. The reported number represents a year-over-year change of -1.7%.

View all Key Company Metrics for First American Financial here>>>

Shares of First American Financial have returned +0.3% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

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Zacks Investment Research