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Stewart Information Services Corporation Message Board

  • smaycs4 smaycs4 Jul 26, 2012 9:05 AM Flag

    InPlay: Stewart Info Correction: Beats by $0.72, beats on revenueBriefing.com(Thu 8:56AM EDT)

    InPlay: Stewart Info Correction: Beats by $0.72, beats on revenueBriefing.com(Thu 8:56AM EDT)


    8:56AM Stewart Info Correction: Beats by $0.72, beats on revenue (STC) 13.27 : Earlier we compared 2Q11 earnings to the 2Q12 consensus, the prior comment has been removed and should have read as follows: Reports Q2 (Jun) earnings of $1.05 per share, $0.72 better than the Capital IQ Consensus Estimate of $0.33; revenues rose 19.5% year/year to $483.7 mln vs the $423.13 mln consensus. Total title revenues in the second quarter 2012 increased 15.9% and 25.7% compared to the same quarter last year and sequentially from the first quarter 2012, respectively. "During Q2, industry conditions continued to improve as some of the restrictions and moratoriums on foreclosures previously in place were lifted. This quarter, we again experienced a significant increase in short sale transactions. We believe the housing market is on a trajectory of recovery as sale transaction volumes continue to rise, housing prices stabilize and inventory of homes shrinks."

 
STC
30.11-0.06(-0.20%)12:58 PMEDT

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