Stewart reports Q1 EPS 17c, consensus (13c)

Reports Q1 revenue $554.3M, consensus $536.17M. “Our first quarter results improved over the first quarter 2023, but reflect the continuing challenges in the real estate market due to the higher interest rate environment, which we expect to continue for several quarters. We are encouraged by the increase in our commercial revenues this quarter compared to the prior year, although we anticipate ongoing challenges to residential transaction volumes,” commented Fred Eppinger, chief executive officer. “We remain focused on our strategic investments and will continue to focus on balancing thoughtful cost discipline with investment in long-term enterprise initiatives to create a stronger and more resilient company.”