FAF · First American Financial Corporation Q2 FY2026 earnings call record财报电话会记录

“Within our National Commercial Services division, demand remains broad-based, with 10 of our 11 asset classes growing year-over-year.”

“Purchase revenue increased 2% as affordability challenges continued to weigh on existing home sales.”

“Our primary strategic priority remains leveraging AI across the enterprise to amplify the talents of our people, better serve our customers, and strengthen our operating capabilities.”

“Finally, we remain committed to returning capital to shareholders through a combination of dividends and opportunistic share repurchases.”

“We expect to continue increasing our dividend over time, reflecting our confidence in the company's long-term earnings growth.”

“Purchase revenue was up 2% during the quarter due to a 6% increase in average revenue per order, partially offset by a 3% decline in closed orders, which reflects the continued weakness in home sale activity.”

“Other operating expenses were $319 million in the quarter, up 15% compared with last year, primarily attributable to higher production expense driven by higher volumes and an increased software expense.”

“Pre-tax margin in the title segment was 15.7%, or 14.0% on an adjusted basis.”

“Pre-tax margin in the home warranty segment was 21.3%, or 20.2% on an adjusted basis.”

“When we look at our pipeline, we have conversations with our customers, and we look at the commercial real estate dynamics.”

“Year to date, our margin in the title segment is 12.3%.”

“Our target debt to cap is 20%, we're a little bit higher than that now, but it's still very comfortable, especially considering we're at kind of the trough of the market.”