The tax rate this quarter was 174 percent, however, excluding $226 million in net investment losses the tax rate was 23.1 percent. The net investment losses in the current quarter were primarily due to unrealized losses in our venture portfolio compared with unrealized gains in the third quarter of last year primarily related to our venture portfolio. Net investment losses in the current quarter were $226 million, or $1.60 per diluted share, compared with net investment gains of $276 million, or $1.85 per diluted share, in the third quarter of last year. Net income in the current quarter was $2 million, or 2 cents per diluted share, compared with net income of $445 million, or $4.00 per diluted share, in the third quarter of 2021. Total revenue for the third quarter of 2022 was $1.8 billion, down 29 percent compared with the third quarter of 2021. Raised common stock dividend by 2 percent to an annual rate of $2.08 per shareĭebt-to-capital ratio of 30.5 percent, or 22.8 percent excluding accumulated other comprehensive loss of $1.0 billion and secured financings payable of $341 millionĬash flow from operations of $302 million compared with $399 million last year Through October 26, repurchased an additional 339,000 shares for a total of $16 million at an average price of $46.46 Repurchased 1.3 million shares for a total of $72 million at an average price of $53.31

Home warranty business pretax margin of 3.8 percentĥ.6 percent excluding net investment losses Title Insurance and Services segment investment income of $105 million, up 114 percent compared with last yearĬommercial revenues of $260 million, down 1 percent compared with last year Title Insurance and Services segment pretax margin of 9.9 percentġ3.0 percent excluding net investment losses $50 million due to the sale of fixed-income securities in connection with the company’s tax planning efforts $50 million related to losses in marketable equity securities

$126 million due to unrealized losses recognized in our venture portfolio Net investment losses of $226 million compared with $276 million net investment gains last year Total revenue of $1.8 billion, down 29 percent compared with last yearĮxcluding net investment losses of $226 million, total revenue was $2.1 billion, down 10 percent compared with last year 30, 2022.Įarnings per diluted share of 2 cents, or $1.62 per share excluding $1.60 of net investment losses SANTA ANA, Calif., October 27, 2022-( BUSINESS WIRE)-First American Financial Corporation (NYSE: FAF), a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today announced financial results for the third quarter ended Sept.

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