Stewart Information Services Stock Earnings Reports

Stewart reported a strong Q1 2026 despite a weak residential housing market: total revenues were $781 million, GAAP net income $17 million (diluted EPS $0.55) and adjusted net income $24 million (adjusted EPS $0.78). Consolidated adjusted revenue grew ~28% year-over-year and adjusted net income and margins improved materially. Key drivers were: commercial growth (notably energy, industrial/site development, data centers and retail) with domestic commercial average fee per file up ~33% to $21,000; agency revenues up ~25% with share gains in target states; Real Estate Solutions (RES) revenues up ~66% aided by the MCS acquisition and by adding National Appraisal Network (NAN) to Stewart Valuation Intelligence. Title segment adjusted pretax margin rose to ~4% (from 2%), RES adjusted pretax margin improved to ~12.5% (guidance for low-teens for the year). The company has strong liquidity (cash & investments ~ $420 million in excess of statutory premiums; book value ~$54/sh) and improved operating cash flow. Management expects residential market growth modestly below prior guidance (now ~3%–5% for 2026) given macro/geopolitical risks and rate moves, but expects continued momentum in commercial and mid-teens revenue growth for the enterprise driven by organic share gains and targeted acquisitions. Stewart is acquisitive (recent MCS and NAN deals; raised capital in Dec) and has dry powder for ~$20–$50M-class transactions to further scale RES and direct operations. Risks include continued residential softness, rate volatility, and integration costs for acquisitions.