Stewart Information Services (STC) Tops Q4 EPS by 16c

Stewart Information Services (NYSE: STC) reported Q4 EPS of $0.71, $0.16 better than the analyst estimate of $0.55. Revenue for the quarter came in at $525.8 million versus the consensus estimate of $496.85 million.

"Our fourth quarter delivered a solid finish to an important year for Stewart," said Matthew W. Morris, chief executive officer. "We generated revenue growth in our core title operations while continuing to add more efficiency to our cost structure. We also took additional actions to focus on our core operations and significantly improve the anticipated 2017 results of our ancillary services operations. Fourth quarter 2016 was also an indication of the improvement inherent in our transformed operating model, with adjusted EBITDA increasing by $18 million, or 100 percent, relative to a $32 million, or six percent, increase in adjusted revenues. Our commitment to improving our customer experience coupled with growth plans in targeted markets, while reducing our cost-per-file, will yield sustainable margin improvement. We remain positive on our prospects going forward from both our operations and the macroeconomic environment."

For earnings history and earnings-related data on Stewart Information Services (STC) click here.

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