Yahoo Finance First American Financial Third Quarter 2022 Earnings: Misses Expectations
First American Financial (NYSE:FAF) Third Quarter 2022 Results
Key Financial Results
Revenue: US$1.82b (down 29% from 3Q 2021).
Net income: US$2.00m (down 100% from 3Q 2021).
Profit margin: 0.1% (down from 17% in 3Q 2021). The decrease in margin was driven by lower revenue.
EPS: US$0.019 (down from US$4.01 in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
First American Financial Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) also missed analyst estimates by 99%.
Looking ahead, revenue is expected to decline by 3.2% p.a. on average during the next 3 years, while revenues in the Insurance industry in the US are expected to grow by 5.5%.
Performance of the American Insurance industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 1 warning sign for First American Financial you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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