Q1 2026 Stewart Information Services Corp Earnings Call Transcript
Key Points
- Stewart Information Services Corp (STC) reported a strong first quarter with adjusted EPS of $0.78 and revenue growth of 28%, marking one of the best quarters in the company's history.
- The company's Direct operations business grew by 10% in the first quarter, driven by improved transaction activity and strategic initiatives.
- National commercial services saw a 40% growth in the first quarter, with significant contributions from energy, industrial, site development, data center, and retail asset classes.
- The Real Estate Services segment experienced a 66% revenue increase, bolstered by the acquisition of MCS and other operations growing over 20% compared to the previous year.
- STC's agency services business delivered a strong first quarter with revenues up 25%, driven by improved volumes across key agency states and commercial transactions.
- The residential transaction activity remained at historically low levels, impacting the overall housing market outlook.
- Existing home sales were relatively flat, down 1% compared to 2025, with median sale price growth being weaker than in previous quarters.
- Interest rates increased to around 6.3% by the end of March, cooling activity due to the quick shift in rate and sentiment.
- The housing market growth is expected to be muted, with residential market growth projected to be closer to 3% to 5% for the year.
- The company anticipates ongoing geopolitical tensions could prolong the residential market's stagnation, potentially affecting future quarters.
Please stand by, your meeting is about to begin.
Hello and thank you for joining the Stewart Information Services first-quarter 2026 earnings call. (Operator Instructions) Please note, today's call is being recorded. (Operator Instructions)
It is now my pleasure to turn today's conference over to Kat Bass, Director of Investor Relations. Please go ahead.
Thank you for joining us today for Stewart's first-quarter 2026 earnings conference call. We will be discussing results that were released yesterday after the close. Joining me today are CEO, Fred Eppinger; and CFO, David Hisey.
To listen online, please go to the stewart.com website to access the link for this conference call. This conference call may contain forward-looking statements that involve a number of risks and uncertainties. Please refer to the company's press release and other filings with the SEC for a discussion of the risks and uncertainties that could cause our actual results to differ
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