First American Financial Q4 Earnings Fall, Miss Estimates

(RTTNews) - First American Financial Corp. (FAF), a provider of title insurance, settlement services and risk solutions for real estate transactions, Thursday reported a fall in earnings for the fourth quarter, hurt by a decline in revenue. Earnings also missed analysts' estimates by a penny.

Earnings fell to $51.63 million or $0.48 per share, from $93.28 million or $0.85 per share, a year earlier. On average, 6 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.49 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues declined to $1.219 billion from $1.277 billion a year earlier. Analysts expected the company to report revenues of $1.10 billion.

For the full year ended December 31, 2013, revenue increased to $4.956 billion from $4.542 billion in 2012, while earnings declined to $186.4 million or $1.71 per share, from $301 million or $2.77 per share, last year.