Overview

* Investors Title ( ITIC ) Q2 revenue rises 12.6% yr/yr, driven by real estate activity

* Net income for Q2 increases to $12.3 mln, $6.48 per share

* Operating expenses rise 6.9% due to higher agent commissions and claims provisions

Outlook

* Company enters Q3 with stronger pipeline of open orders

* Investors Title ( ITIC ) notes ongoing market headwinds but sees continued momentum

Result Drivers

* REAL ESTATE ACTIVITY - Higher real estate activity levels drove increases in net premiums written and escrow and title-related fees

* JOINT VENTURE GAINS - Other revenue increased due to gains on assets transferred to a joint venture

* NON-TITLE SERVICES - Revenue from non-title services rose, driven by like-kind exchanges and management services

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $54.50

Premiums mln

Written

Q2 EPS $6.48

Q2 Net $12.28

Income mln

Q2 Basic $6.51

EPS

Q2 $57.85

Operatin mln

g

Expenses

Q2 $15.80

Pretax mln

Profit

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)