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Stewart Information Services (STC) Q2 FY2024 earnings: revenue $602 million, up 9.7% on the year

Stewart Information Services Corp. (STC) reported revenue of $602 million for Q2 FY2024, the quarter ended 30 June 2024, up 9.7% on the same quarter a year earlier. Net income was $17 million, up 9.7% on the year, and diluted earnings per share $0.62. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2024.

Revenue$602 millionup 9.7%
Net income$17 millionup 9.7%
Diluted EPS$0.62
QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Revenue602554n/an/a
Operating income29.07.1n/an/a
Operating margin4.8%1.3%n/a
Interest expensen/a5.1n/an/a
Pre-tax income29.07.1n/an/a
Income tax7.90.9n/an/a
Effective tax rate27.4%13.1%n/a
Net income17.33.1n/an/a
Net margin2.9%0.6%n/a
Diluted EPS$0.62$0.11n/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Operating cash flow21.1-29.6n/an/a
Capital expenditure9.210.2n/an/a
Free cash flow11.9-39.8n/an/a
Free cash flow margin2.0%-7.2%n/a
Cash from investing-8.9-47.4n/an/a
Cash from financing-16.8-16.8n/an/a
Depreciation and amortisation15.215.4n/an/a
Share-based compensation3.72.7n/an/a
Buybacks0.13.4n/an/a
Dividends paid13.113.1n/an/a
Dividend per share$0.48$0.48n/an/a
Diluted shares, weighted28m28mn/an/a
Shares outstanding at period end28m28mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Shareholders' equity1,3651,358n/an/a
Non-controlling interest6.66.5n/an/a
Debt446445n/an/a
Other liabilities829842n/an/a
Total liabilities and equity2,6452,651n/an/a
Goodwill1,0811,072n/an/a
Intangible assets177185n/an/a
Investments43.342.8n/an/a
Cash and equivalents133138n/an/a
Other assets1,2111,213n/an/a
Total assets2,6452,651n/an/a

Questions

What was Stewart Information Services' revenue in Q2 FY2024?

Stewart Information Services (STC) reported revenue of $602 million for Q2 FY2024, the quarter ended 30 June 2024, up 9.7% on the same quarter a year earlier.

How much did Stewart Information Services earn in Q2 FY2024?

Net income for Q2 FY2024 was $17 million, up 9.7% on the year, and diluted earnings per share $0.62.

When did Stewart Information Services report Q2 FY2024 results?

Stewart Information Services filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 6 August 2024.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue602582554602668666612722797791781899
Operating income27.118.87.129.042.835.45.946.861.251.723.655.1
Operating margin4%3%1%5%6%5%1%6%8%7%3%6%
Interest expense5.15.05.1n/an/an/an/an/an/an/an/an/a
Pre-tax income27.118.87.129.042.835.45.946.861.251.723.655.1
Tax rate34%30%13%27%21%23%8%24%21%21%19%24%
Net income14.08.83.117.330.122.73.131.944.336.317.037.2
Net margin2%2%1%3%5%3%1%4%6%5%2%4%
Diluted EPS$0.51$0.32$0.11$0.62$1.07$0.80$0.11$1.13$1.55$1.25$0.55$1.21
Operating cash flow59.539.5-29.621.176.168.0-29.953.492.689.5-4.560.5
Capital expenditure14.08.310.29.28.712.312.314.819.127.216.425.5
Free cash flow45.531.2-39.811.967.455.6-42.238.773.662.3-20.935.0
Buybacks0.20.23.40.10.10.23.40.10.10.35.20.1
Dividends paid13.013.013.113.113.913.913.914.014.715.916.316.4
Shares outstanding27m27m28m28m28m28m28m28m28m30m30m30m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 6 August 2024, accession 0000094344-24-000015: the filing on EDGAR. All of Stewart Information Services Corp.'s filings: EDGAR company page.

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