Form 8-K

8-K — STEWART INFORMATION SERVICES CORP

Accession: 0001104659-26-117852

Filed: 2026-10-21

Period: 2026-10-21

CIK: 0000094344

SIC: 6361 (TITLE INSURANCE)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — tm2628060d1_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (tm2628060d1_ex99-1.htm)

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8-K (Primary)

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0000094344

STEWART INFORMATION SERVICES CORP

0000094344

2026-10-21

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM

8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE

SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (DATE OF EARLIEST

EVENT REPORTED): October 21, 2026

STEWART INFORMATION SERVICES CORPORATION

(EXACT NAME OF REGISTRANT AS SPECIFIED

IN ITS CHARTER)

Delaware

001-02658

74-1677330

(STATE OR OTHER

JURISDICTION)

(COMMISSION FILE

NO.)

(I.R.S. EMPLOYER

IDENTIFICATION

NO.)

1360 Post Oak Blvd, Suite 100, Houston, Texas 77056

(Address Of Principal Executive Offices) (Zip

Code)

Registrant’s Telephone Number,

Including Area Code: (713) 625-8100

Check the appropriate box below if the Form 8-K filing is intended

to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under

the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $1 par value

STC

New York Stock Exchange (NYSE)

Indicate by check mark whether the

registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter)

or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth

company ¨

If an emerging growth company, indicate

by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial

accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

A press release

issued by Stewart Information Services Corporation on October 21, 2026, regarding financial results for the three months ended September

30, 2026, is attached hereto as Exhibit 99.1, and is incorporated herein by reference. This information is not deemed to be “filed”

for the purposes of Section 18 of the Securities Exchange Act of 1934 and is not incorporated by reference in any filing under the Securities

Act of 1933, as amended.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(d) EXHIBITS

Exhibit No.

Description

99.1

Press release of Stewart Information Services Corporation dated October 21, 2026, reporting financial results for the three months ended September 30, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities

Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

STEWART INFORMATION SERVICES CORPORATION

(Registrant)

By:

/s/

David C. Hisey

David C. Hisey,

Chief Financial Officer and Treasurer

Date: October 21, 2026

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: tm2628060d1_ex99-1.htm · Sequence: 2

Exhibit 99.1

NEWS RELEASE

STEWART INFORMATION SERVICES CORP.

P.O. Box 2029

Houston, Texas 77252-2029

www.stewart.com

CONTACT

Kathryn Bass

Investor Relations

(713) 625-8633

Stewart Reports

Third Quarter 2026 Results

· Total revenues of $900.7 million (GAAP and adjusted basis) compared to

$796.9 million ($791.3 million on an adjusted basis) in the prior year quarter

· Net income of $30.3 million ($41.2 million on an adjusted basis) compared

to net income of $44.3 million ($46.7 million on an adjusted basis) in the prior year quarter

· Diluted EPS of $0.98 ($1.33 on an adjusted basis) compared

to prior year quarter diluted EPS of $1.55 ($1.64 on an adjusted basis)

HOUSTON, October 21, 2026 - Stewart Information Services Corporation

(NYSE: STC) today reported net income attributable to Stewart of $30.3 million ($0.98 per diluted share) for the third quarter 2026, compared

to net income attributable to Stewart of $44.3 million ($1.55 per diluted share) for the third quarter 2025. On an adjusted basis, net

income for the third quarter 2026 was $41.2 million ($1.33 per diluted share) compared to net income of $46.7 million ($1.64 per diluted

share) in the third quarter 2025. Pretax income before noncontrolling interests for the third quarter 2026 was $45.6 million ($60.3 million

on an adjusted basis) compared to $61.2 million ($64.5 million on an adjusted basis) for the third quarter 2025.

Third quarter 2025 results included $5.6 million of pretax net realized

and unrealized gains, primarily driven by $4.3 million of net unrealized gains on fair value changes of equity securities investments

in the title segment and a $1.2 million realized gain on a sale of real property in the corporate segment.

“This quarter, we faced increased industry headwinds that we

anticipate will continue into next year,” commented Fred Eppinger, chief executive officer. “We remain focused on growing

market share across our businesses while maintaining disciplined operational execution in this challenging market environment.”

-1-

Selected Financial Information

Summary results of operations are as follows (dollars in millions,

except per share amounts, pretax margin and adjusted pretax margin, and amounts may not add as presented due to rounding):

Quarter Ended

September 30,

Nine Months Ended

September 30,

2026

2025

2026

2025

Total revenues

900.7

796.9

2,581.2

2,131.1

Pretax income before noncontrolling interests

45.6

61.2

124.3

113.8

Income tax expense

(11.6 )

(13.0 )

(29.5 )

(24.6 )

Net income attributable to noncontrolling interests

(3.6 )

(3.9 )

(10.2 )

(10.0 )

Net income attributable to Stewart

30.3

44.3

84.5

79.3

Non-GAAP adjustments, after taxes*

10.9

2.4

23.7

12.4

Adjusted net income attributable to Stewart*

41.2

46.7

108.2

91.6

Pretax margin

5.1 %

7.7 %

4.8 %

5.3 %

Adjusted pretax margin*

6.7 %

8.1 %

6.1 %

6.2 %

Net income per diluted Stewart share

0.98

1.55

2.74

2.79

Adjusted net income per diluted Stewart share*

1.33

1.64

3.50

3.23

*Adjusted net income, adjusted pretax margin and adjusted

net income per diluted share are non-GAAP measures. See Appendix A for explanation and reconciliation of non-GAAP adjustments.

Title Segment

Summary results of the title segment are as follows (dollars in millions,

except pretax margin and adjusted pretax margin):

Quarter Ended

September 30,

2026

2025

% Change

Operating revenues

690.5

659.9

5 %

Investment income

13.7

14.8

(8 )%

Net realized and unrealized gains

4.2

(100 )%

Pretax income

47.5

62.0

(23 )%

Non-GAAP adjustments to pretax income*

4.4

(1.2 )

473 %

Adjusted pretax income*

51.9

60.8

(15 )%

Pretax margin

6.7 %

9.1 %

Adjusted pretax margin*

7.4 %

9.0 %

* Adjusted pretax income and adjusted pretax margin are non-GAAP financial measures. See Appendix A for explanation and reconciliation of non-GAAP adjustments.

Title segment operating revenues increased $30.6 million (5 percent)

in the third quarter 2026 compared to the third quarter 2025, primarily driven by growth in agency title revenues. Agency gross title

revenues increased $24.6 million (7 percent), while direct title revenues increased $6.1 million (2 percent) primarily due to higher domestic

commercial activity during the third quarter 2026. Net of agency retention, agency title revenues increased $5.0 million (8 percent),

consistent with the increase in gross agency revenues.

-2-

Combined employee costs and other operating expenses increased $16.5

million (6 percent) in the third quarter 2026 compared to the prior year quarter, primarily driven by higher title revenues, which resulted

in increased salaries and employee benefits and higher title search and third-party service fees. As a percentage of title operating revenues,

these expenses were approximately 44 percent, which is comparable to the third quarter 2025. Title loss expense increased $4.0 million

(20 percent) compared with the prior year quarter, primarily due to higher title revenues. The title loss ratio, as a percentage of title

operating revenues, remained comparable to the prior year quarter.

Investment income decreased $1.1 million (8 percent) in the third quarter

2026, primarily due to lower interest income resulting from reduced eligible escrow balances compared to the prior year quarter. Net realized

and unrealized gains in the third quarter 2025 were primarily related to net unrealized gains on fair value changes of equity securities

investments. In addition to net realized and unrealized gains, adjusted title pretax income included total non-GAAP expense adjustments

of $4.4 million and $3.0 million, in the third quarters 2026 and 2025, respectively, primarily related to acquisition-related intangible

asset amortization, third-party acquisition consulting fees and severance expenses (refer to Appendix A for details).

Direct title revenues information is presented below (dollars in millions):

Quarter Ended

September 30,

2026

2025

% Change

Non-commercial:

Domestic

179.8

176.8

2 %

International

32.3

32.5

(1 )%

212.2

209.3

1 %

Commercial:

Domestic

86.4

79.1

9 %

International

7.3

11.3

(35 )%

93.7

90.4

4 %

Total direct title revenues

305.8

299.7

2 %

Domestic commercial revenues increased $7.3 million (9 percent) in

the third quarter 2026, primarily due to higher commercial transaction activity. Domestic commercial closed orders improved 18 percent,

while the average domestic commercial fee per file decreased 8 percent to $16,300 compared to $17,700 from the prior year quarter, primarily

due to reduced data center and energy transaction size and volume. Domestic non-commercial revenues increased $3.0 million (2 percent)

in the third quarter 2026. Average domestic residential fee per file in the third quarter 2026 was $3,200, which was comparable to the

prior year quarter. Total international revenues decreased $4.2 million (10 percent) in the third quarter 2026, primarily due to a large

commercial transaction that closed in the prior year quarter.

-3-

Real Estate Solutions Segment

Summary results of the real estate solutions (RES) segment are as follows

(dollars in millions, except pretax margin and adjusted pretax margin):

Quarter Ended

September 30,

2026

2025

% Change

Total revenues

196.5

116.6

68 %

Pretax income

10.3

7.3

41 %

Non-GAAP adjustments to pretax income*

10.3

5.9

75 %

Adjusted pretax income*

20.6

13.2

56 %

Pretax margin

5.2 %

6.2 %

Adjusted pretax margin*

10.5 %

11.3 %

* Adjusted pretax income and adjusted pretax margin are non-GAAP financial measures. See Appendix A for an explanation and reconciliation of non-GAAP adjustments.

Segment revenues increased $79.9 million (68 percent) in the third

quarter 2026 compared to the prior year quarter, primarily driven by the recent MCS acquisition and higher revenues from credit information

and valuation services. Combined employee costs and other operating expenses increased $72.7 million (71 percent), primarily due to higher

costs of services associated with increased revenues and increased employee count from acquisitions. Non-GAAP adjustments to pretax income

in both third quarters 2026 and 2025 were primarily related to acquisition-related intangible asset amortization. Additionally, third

quarter 2026 adjustments included MCS integration costs.

Corporate Segment

Expenses attributable to corporate operations for the third quarter

2026 increased to $12.2 million compared to $9.5 million in the third quarter 2025, primarily due to higher interest expense on increased

debt balances.

Expenses

Consolidated employee costs increased $19.7 million (9 percent) in

the third quarter 2026 compared to the prior year quarter, primarily due to higher salaries and employee benefit expenses resulting from

a 12 percent higher average employee count. As a percentage of total operating revenues, consolidated employee costs improved to 26.0

percent in the third quarter 2026, compared to 27.2 percent in the prior year quarter, primarily due to higher operating revenues.

Consolidated other operating expenses increased $69.6 million (38 percent)

in the third quarter 2026 compared to the prior year quarter, primarily due to increased real estate solutions service expenses and higher

title search and third-party services fees associated with higher operating revenues. As a percentage of total operating revenues, consolidated

other operating expenses increased to 28.7 percent compared to 23.8 percent in the prior year quarter primarily due to higher costs of

services from real estate solutions.

-4-

Other

Net cash provided by operations was $46.6 million in the third quarter

2026, compared to $92.6 million in the third quarter 2025, primarily due to lower net income and the timing of payments related to operating

liabilities during the quarter.

Third Quarter Earnings Call

Stewart will hold a conference call to discuss the third quarter 2026

earnings at 8:30 a.m. Eastern Time on Thursday, October 22, 2026. To participate, dial 833-419-0865 (USA) or 785-838-9333 (International)

– access code STCQ326. Additionally, participants can listen to the conference call through Stewart’s Investor Relations website

at https://investors.stewart.com/news-and-events/events/default.aspx. The conference

call replay will be available from 11:00 a.m. Eastern Time on October 22, 2026 until midnight on October 29, 2026 by dialing

(800) 839-5241 (USA) or (402) 220-2698 (International).

About Stewart

Stewart (NYSE-STC) is a global real estate services company, offering

products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential

and commercial title insurance and closing and settlement services to specialized offerings for the mortgage and real estate industries,

we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we are

dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual

success. Learn more at stewart.com.

Cautionary statement regarding forward-looking statements. Certain

statements in this press release are "forward-looking statements", including statements related to Stewart’s future business

plans and expectations, including our plans to achieve market growth and our expectations regarding challenging industry conditions. Forward-looking

statements, by their nature, are subject to various risks and uncertainties that could cause our actual results to differ materially.

Such risks and uncertainties include the volatility of general economic conditions, including economic changes that may result from new

or increased tariffs, trade restrictions or geopolitical tensions, and adverse changes in the level of real estate activity, as well as

a number of other risks and uncertainties discussed in detail in our documents filed with the Securities and Exchange Commission, including

our Annual Report on Form 10-K for the year ended December 31, 2025, and if applicable, as supplemented by any risk factors

contained in our Quarterly Reports on Form 10-Q, and our Current Reports on Form 8-K filed subsequently. We expressly disclaim

any obligation to update, amend or clarify any forward-looking statements contained in this press release to reflect events or circumstances

that may arise after the date hereof, except as may be required by applicable law.

ST-IR

-5-

STEWART INFORMATION SERVICES CORPORATION

CONDENSED STATEMENTS OF INCOME

(In thousands of dollars, except per share amounts and except where

noted)

Quarter Ended

September 30,

Nine Months Ended

September 30,

2026

2025

2026

2025

Revenues:

Title revenues:

Direct title

305,770

299,690

882,537

822,631

Agency title

384,739

360,186

1,094,781

928,989

Real estate solutions

196,446

116,607

555,164

326,334

Total operating revenues

886,955

776,483

2,532,482

2,077,954

Investment income

13,700

14,819

42,390

43,733

Net realized and unrealized gains

5,614

6,352

9,394

900,679

796,916

2,581,224

2,131,081

Expenses:

Amounts retained by agencies

319,050

299,523

910,082

773,012

Employee costs

230,921

211,221

693,080

605,240

Other operating expenses

254,729

185,165

713,297

519,605

Title losses and related claims

23,514

19,546

64,022

58,701

Depreciation and amortization

19,290

15,391

53,778

45,863

Interest

7,618

4,898

22,685

14,812

855,122

735,744

2,456,944

2,017,233

Income before taxes and noncontrolling interests

45,557

61,172

124,280

113,848

Income tax expense

(11,630 )

(12,975 )

(29,533 )

(24,600 )

Net income

33,927

48,197

94,747

89,248

Less net income attributable to noncontrolling interests

3,606

3,938

10,245

9,990

Net income attributable to Stewart

30,321

44,259

84,502

79,258

Net earnings per diluted share attributable to Stewart

0.98

1.55

2.74

2.79

Diluted average shares outstanding (000)

30,976

28,491

30,875

28,386

Selected financial information:

Net cash provided by operations

46,610

92,645

102,619

116,146

Other comprehensive (loss) income

(11,339 )

(1,922 )

(17,984 )

18,903

Third

Quarter Domestic Order Counts:

Opened Orders 2026:

July

August

Sept

Total

Closed Orders 2026:

July

August

Sept

Total

Commercial

1,830

1,583

2,135

5,548

Commercial

1,788

1,586

1,928

5,302

Purchase

16,976

16,295

15,307

48,578

Purchase

12,324

11,112

10,893

34,329

Refinancing

6,347

5,995

5,879

18,221

Refinancing

3,913

3,702

3,824

11,439

Other

3,764

3,534

6,362

13,660

Other

1,985

4,603

4,106

10,694

Total

28,917

27,407

29,683

86,007

Total

20,010

21,003

20,751

61,764

Opened Orders 2025:

July

August

Sept

Total

Closed Orders 2025:

July

August

Sept

Total

Commercial

1,391

1,565

1,564

4,520

Commercial

1,443

1,514

1,521

4,478

Purchase

18,255

16,378

16,028

50,661

Purchase

12,601

12,016

11,592

36,209

Refinancing

6,620

6,961

8,818

22,399

Refinancing

4,113

4,096

4,569

12,778

Other

2,971

4,277

2,575

9,823

Other

2,060

1,834

1,953

5,847

Total

29,237

29,181

28,985

87,403

Total

20,217

19,460

19,635

59,312

STEWART INFORMATION SERVICES CORPORATION

CONDENSED BALANCE SHEETS

(In thousands of dollars)

September 30,

2026

December 31,

2025

Assets:

Cash and cash equivalents

152,313

321,775

Short-term investments

53,661

47,899

Investments in debt and equity securities, at fair value

596,168

606,170

Receivables – premiums from agencies

38,731

38,286

Receivables – other

202,639

159,583

Allowance for uncollectible amounts

(8,889 )

(7,805 )

Property and equipment, net

104,711

85,330

Operating lease assets, net

117,608

106,034

Title plants

84,108

81,670

Goodwill

1,418,014

1,271,958

Intangible assets, net of amortization

291,377

325,135

Deferred tax assets

8,139

7,656

Other assets

238,261

209,114

3,296,841

3,252,805

Liabilities:

Notes payable

654,911

646,606

Accounts payable and accrued liabilities

236,784

255,852

Operating lease liabilities

133,420

122,153

Estimated title losses

521,498

524,473

Deferred tax liabilities

66,951

53,323

1,613,564

1,602,407

Stockholders’ equity:

Common Stock and additional paid-in capital

535,941

520,243

Retained earnings

1,180,234

1,145,415

Accumulated other comprehensive loss

(39,892 )

(21,908 )

Treasury stock

(2,666 )

Stockholders’ equity attributable to Stewart

1,673,617

1,641,084

Noncontrolling interests

9,660

9,314

Total stockholders’ equity

1,683,277

1,650,398

3,296,841

3,252,805

Number of shares outstanding (000)

30,526

30,223

Book value per share

54.82

54.30

STEWART INFORMATION SERVICES CORPORATION

SEGMENT INFORMATION

(In thousands of dollars)

Quarter Ended:

September 30, 2026

September 30, 2025

Title

Real

Estate

Solutions

Corporate

Total

Title

Real

Estate

Solutions

Corporate

Total

Revenues:

Operating revenues

690,509

196,446

886,955

659,876

116,607

776,483

Investment income

13,664

13,700

14,787

14,819

Net realized and unrealized gains

4,236

1,378

5,614

704,197

196,482

900,679

678,899

116,639

1,378

796,916

Expenses:

Amounts retained by agencies

319,050

299,523

Employee costs

203,066

25,109

2,746

230,921

191,598

16,094

3,529

211,221

Other operating expenses

102,516

150,202

2,011

254,729

97,482

86,479

1,204

185,165

Title losses and related claims

23,514

19,546

Depreciation and amortization

8,145

10,855

290

19,290

8,356

6,777

258

15,391

Interest

455

7,160

7,618

419

4,479

4,898

656,746

186,169

12,207

855,122

616,924

109,350

9,470

735,744

Income (loss) before taxes

47,451

10,313

(12,207 )

45,557

61,975

7,289

(8,092 )

61,172

Nine Months Ended:

September 30, 2026

September 30, 2025

Title

Real

Estate

Solutions

Corporate

Total

Title

Real

Estate

Solutions

Corporate

Total

Revenues:

Operating revenues

1,977,318

555,164

2,532,482

1,751,620

326,334

2,077,954

Investment income

42,280

110

42,390

43,643

43,733

Net realized and unrealized gains (losses)

6,552

(200 )

6,352

8,059

1,335

9,394

2,026,150

555,274

(200 )

2,581,224

1,803,322

326,424

1,335

2,131,081

Expenses:

Amounts retained by agencies

910,082

773,012

Employee costs

610,760

72,852

9,468

693,080

549,634

45,266

10,340

605,240

Other operating expenses

294,102

414,405

4,790

713,297

272,241

243,494

3,870

519,605

Title losses and related claims

64,022

58,701

Depreciation and amortization

24,828

28,160

790

53,778

25,413

19,574

876

45,863

Interest

1,367

21,307

22,685

1,265

13,545

14,812

1,905,161

515,428

36,355

2,456,944

1,680,266

308,336

28,631

2,017,233

Income (loss) before taxes

120,989

39,846

(36,555 )

124,280

123,056

18,088

(27,296 )

113,848

Appendix A

Non-GAAP Adjustments

Management uses a variety of financial and operational measurements

other than its financial statements prepared in accordance with United States Generally Accepted Accounting Principles (GAAP) to analyze

its performance. These include: (1) adjusted revenues, which are reported revenues adjusted for net realized and unrealized gains

and losses and (2) adjusted pretax income and adjusted net income, which are reported pretax income and reported net income after

earnings from noncontrolling interests, respectively, adjusted for net realized and unrealized gains and losses, acquisition-related intangible

asset amortization, acquisition and integration expenses (related to third-party acquisition consulting fees and integration of the recent

MCS acquisition), and severance and office closure expenses. Adjusted diluted earnings per share (adjusted diluted EPS) is calculated

using adjusted net income divided by the diluted average weighted outstanding shares. Adjusted pretax margin is calculated using adjusted

pretax income divided by adjusted total revenues. Management views these measures as important performance measures of core profitability

for its operations and as key components of its internal financial reporting. Management believes investors benefit from having access

to the same financial measures that management uses.

Below are reconciliations of the non-GAAP financial measures used by

management to the most directly comparable GAAP measures for the quarter and nine months ended September 30, 2026 and 2025 (dollars

in millions, except shares, per share amounts and pretax margins, and amounts may not add as presented due to rounding).

Quarter Ended

September 30,

Nine Months Ended

September 30,

2026

2025

% Chg

2026

2025

% Chg

Total revenues

900.7

796.9

13 %

2,581.2

2,131.1

21 %

Non-GAAP revenue adjustment:

Net realized and unrealized gains

(5.6 )

(6.4 )

(9.4 )

Adjusted total revenues

900.7

791.3

14 %

2,574.9

2,121.7

21 %

Net realized and unrealized gains:

Net unrealized gains on equity securities fair value changes

4.3

6.5

9.9

Net gains (losses) from fixed asset disposals

1.2

(0.2 )

0.8

Net (losses) gains on sale of securities investments

(0.1 )

0.4

(0.4 )

Net losses from acquisition liability adjustments

(1.0 )

Other items, net

0.2

(0.3 )

0.1

Total

5.6

(100 )%

6.4

9.4

(32 )%

Pretax income

45.6

61.2

(26 )%

124.3

113.8

9 %

Non-GAAP pretax adjustments:

Net realized and unrealized gains

(5.6 )

(6.4 )

(9.4 )

Intangible asset amortization

11.4

8.5

30.7

25.2

Acquisition and integration expenses

2.4

6.1

Severance and office closure expenses

0.9

0.4

1.5

1.0

Adjusted pretax income

60.3

64.5

(7 )%

156.3

130.6

20 %

GAAP pretax margin

5.1 %

7.7 %

4.8 %

5.3 %

Adjusted pretax margin

6.7 %

8.1 %

6.1 %

6.2 %

Net income attributable to Stewart

30.3

44.3

(32 )%

84.5

79.3

7 %

Non-GAAP pretax adjustments:

Net realized and unrealized gains

(5.6 )

(6.4 )

(9.4 )

Intangible asset amortization

11.4

8.5

30.7

25.2

Acquisition and integration expenses

2.4

6.1

Severance and office closure expenses

0.9

0.4

1.5

1.0

Net tax effects of non-GAAP adjustments

(3.8 )

(0.9 )

(8.3 )

(4.3 )

Non-GAAP adjustments, after taxes

10.9

2.4

23.7

12.4

Adjusted net income attributable to Stewart

41.2

46.7

(12 )%

108.2

91.6

18 %

Diluted average shares outstanding (000)

30,976

28,491

30,875

28,386

GAAP net income per share

0.98

1.55

2.74

2.79

Adjusted net income per share

1.33

1.64

3.50

3.23

Quarter Ended

September 30,

Nine Months Ended

September 30,

2026

2025

% Chg

2026

2025

% Chg

Title Segment:

Revenues

704.2

678.9

4 %

2,026.2

1,803.3

12 %

Net realized and unrealized gains

(4.2 )

(6.6 )

(8.1 )

Adjusted revenues

704.2

674.7

4 %

2,019.6

1,795.3

12 %

Pretax income

47.5

62.0

(23 )%

121.0

123.1

(2 )%

Non-GAAP pretax adjustments:

Net realized and unrealized gains

(4.2 )

(6.6 )

(8.1 )

Intangible asset amortization

2.1

2.8

7.5

8.4

Acquisition expenses

1.5

Severance and office closure expenses

0.9

0.3

1.5

0.9

Adjusted pretax income

51.9

60.8

(15 )%

125.0

124.2

1 %

GAAP pretax margin

6.7 %

9.1 %

6.0 %

6.8 %

Adjusted pretax margin

7.4 %

9.0 %

6.2 %

6.9 %

Real Estate Solutions Segment:

Revenues

196.5

116.6

68 %

555.3

326.4

70 %

Pretax income

10.3

7.3

41 %

39.8

18.1

120 %

Non-GAAP pretax adjustment:

Intangible asset amortization

9.3

5.8

23.2

16.8

MCS integration expenses

0.9

4.6

Severance expenses

0.1

Adjusted pretax income

20.6

13.2

56 %

67.7

35.0

93 %

GAAP pretax margin

5.2 %

6.2 %

7.2 %

5.5 %

Adjusted pretax margin

10.5 %

11.3 %

12.2 %

10.7 %

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