First American Financial Corp posted adjusted earnings per share of $2.08, a 36% increase from the prior year, while GAAP earnings reached $2.12 per diluted share. Adjusted total revenue rose 14% to $2 billion, driven by a 34% surge in commercial revenue to $314 million and a record average revenue per order of $19,980 in the commercial business. Purchase revenue edged up 2%, refinance revenue climbed 18%, and agency business revenue grew 14% to $820 million. Personnel costs increased 9% to $572 million, other operating expenses rose 15% to $319 million, and the provision for policy losses held steady at $45 million. The company repurchased 330,000 shares for $20 million at an average price of $61.99, and its debt-to-capital ratio stood at 31.4%.
First American CorporationAdjusted EPS jumped 36% and revenue rose 14%, with strong commercial revenue growth and record average revenue per order.