Stewart Information Services (STC) Misses Q1 EPS Views

Stewart Information Services (NYSE: STC) reported Q1 EPS of ($0.48), $0.24 worse than the analyst estimate of ($0.24). Revenue for the quarter came in at $438.23 million versus the consensus estimate of $422.03 million.

The company said: Effective in the first quarter 2016, we are revising the presentation of our operating segments to reflect two segments: title, and corporate and other. Our centralized title services business, formerly included in the mortgage services segment, is now included in the title segment. The remaining operations of the former mortgage services segment, principally valuation services, government services, and loan file review and audit, are not material, in the aggregate, for separate segment presentation and are now included within the corporate and other segment. Also, costs of our centralized internal services departments are now fully charged to the respective operating businesses, and corporate operations consist principally of the parent holding company and certain other enterprise-wide overhead costs. The new operating segments reflect the current manner that we use in allocating resources and assessing performance of our businesses.

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

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