Overview

* Investors Title ( ITIC ) Q3 net income rises to $12.2 mln, driven by higher real estate activity

* Revenue for Q3 increased 6.1% to $73.0 mln, supported by premiums and non-title services

* Operating expenses rose 1.2% to $57.9 mln, mainly due to higher transaction volumes

Outlook

* Company says strong open order pipeline positions it well for continued momentum

Result Drivers

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

* NON-TITLE SERVICES - Revenue from like-kind exchanges and management services increased by $2.0 mln

* INVESTMENT GAINS - Higher realized gains from investment securities contributed to net investment gains

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $56.40

Premiums mln

Written

Q3 EPS $6.45

Q3 Net $12.21

Income mln

Q3 Basic $6.47

EPS

Q3 $57.93

Operatin mln

g

Expenses

Q3 $15.09

Pretax mln

Profit

Press Release:

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(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.)