First American Financial Corp. Q1 Profit Increases, but misses estimates

(RTTNews) - First American Financial Corp. (FAF) released earnings for its first quarter that increased from last year but missed the Street estimates.

The company's earnings came in at $46.7 million, or $0.45 per share. This compares with $45.9 million, or $0.44 per share, in last year's first quarter.

Excluding items, First American Financial Corp. reported adjusted earnings of $46.9 million or $0.45 per share for the period.

Analysts on average had expected the company to earn $0.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.1% to $1.42 billion from $1.45 billion last year.

First American Financial Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $46.7 Mln. vs. $45.9 Mln. last year. -EPS (Q1): $0.45 vs. $0.44 last year. -Revenue (Q1): $1.42 Bln vs. $1.45 Bln last year.