Industry News

Stewart earnings rise

Real estate information co. reports $31.8 million in Q3 profits
Published on Oct 28, 2005

Stewart Information Services Corp. on Thursday reported third-quarter profits increased to $31.8 million, or $1.74 per diluted share, due to continued low interest rates, which have boosted residential and commercial closings. Third-quarter revenues also increased to $639.4 million, up from $529.7 million a year ago. Total revenues for the first nine months of 2005 were $1.8 billion, up 15 percent from the same period a year ago. Earnings for the first nine months totaled $79.7 million, or $4.37 per diluted share, versus $62.2 million, or $3.42 per diluted share, for the first nine months of 2004. Title orders in the third quarter of 2005 were 16 percent greater than the same quarter a year ago. Orders in the month of September were 12 percent greater than the same month last year, the company said. Along with favorable interest rates, the company said acquisitions also contributed to the increase in revenues. New operations in the quarter included the launching of Stewart Ins...

Comments