From The Motley Fool · Motley Fool Transcribing · · 3m
Stewart Q3 2026 Earnings Report
Stewart reports 14% revenue growth with $900.7m total revenue despite residential market headwinds.
In brief
Stewart reports 14% revenue growth with $900.7m total revenue despite residential market headwinds. Stewart's Q3 2026 earnings show 14% revenue growth and $1.33 adjusted EPS with residential market challenges. Originally reported by The Motley Fool.
Q3 2026 Results
Total revenue reached $900.7 million, a 14% year-over-year increase on an adjusted basis.
Adjusted EPS
Adjusted diluted EPS was $1.33 per share, down from $1.64 last year due to lower residential volume.
Real Estate Solutions
Real Estate Solutions revenue grew 68% year-over-year to $196.5 million from MCS acquisition and credit data volume.
Commercial Revenue
Domestic commercial revenue increased 9% to $86.4 million with closed orders improving 18% across asset classes.
Fee Per File
Average commercial fee per file decreased to $16,300, an 8% drop from reduced transaction sizes.
Agency Title Revenue
Agency title revenue grew 7% to $384.7 million across key agency states including Florida.
Dividend Increase
Annual dividend increased to $2.20 per share, the seventh increase in under six years.
Direct Title Revenue
Direct title revenue rose 2% to $305.8 million as commercial growth offset residential and refinance declines.
Adjusted RES Margin
Adjusted RES pretax margin decreased to 10.5% from 11.3% last year due to slower orders for research and appraisals.
Book Value
Book value per share stood at $54.82 based on $1.7 billion total stockholders' equity.
Excess Liquidity
Company held approximately $300 million in excess liquidity beyond statutory reserve requirements.
Title Loss Ratio
Title loss ratio remained at 3.4% of title operating revenues, comparable to prior year.
Employee Cost Ratio
Employee cost ratio improved to 26.0% of total operating revenues from 27.2% last year.
Net Cash From Operations
Net cash from operations dropped to $46.6 million from $92.6 million last year due to timing of payments.
M&A Deployment
Company deployed $150 million into acquisitions including Nationwide Appraisal, Tower Title, and ProTitleUSA.
Commercial Revenue Timing
Commercial revenue shifted by a few million dollars into Q4 due to transaction closings.
Domestic Purchase Orders
34,329 domestic purchase orders closed, a 5% decrease compared to Q3 2025.
Domestic Refinance Orders
11,439 domestic refinance orders closed, a 10% decrease due to higher 30-year mortgage rates.
Residential Market Conditions
Eppinger stated residential market conditions will continue to decay with 30-year mortgage rates at 7.5%.
Cancellation Rates
Cancellations rose to 15% of transactions in specific service areas like credit data.
In short
Stewart's Q3 2026 earnings show 14% revenue growth and $1.33 adjusted EPS with residential market challenges.
