Stewart Information Services Corporation (NYSE:STC) Q3 2022 Earnings Conference Call October 27, 2022 8:30 AM ET

Company Participants

Brian Glaze - Chief Accounting Officer

Frederick Eppinger - Chief Executive Officer

David Hisey - Chief Financial Officer

Conference Call Participants

John Campbell - Stephens

Geoffrey Dunn - Dowling & Partners

Operator

Hello and thank you for joining the Stewart Information Services Third Quarter 2022 Earnings Call. At this time all participants are in a listen-only mode. Later you will have an opportunity to ask questions during the question-and-answer session. Instructions will be given at that time. Please note today's call is being recorded. [Operator Instructions]

It is now my pleasure to turn the conference over to Mr. Brian Glaze, the Chief Accounting Officer. Please go ahead, sir.

Brian Glaze

Thank you for joining us today for Stewart's third quarter 2022 earnings conference call. We will be discussing results that were released yesterday after the close. Joining me today are CEO, Fred Eppinger; and CFO, David Hisey. To listen online, please go to the stewart.com website to access the link for this conference call.

This conference call may contain forward-looking statements that involve a number of risks and uncertainties. Please refer to the company's press release and other filings with the SEC for a discussion of the risks and uncertainties that could cause our actual results to differ materially.

During our call, we will discuss some non-GAAP measures. For reconciliation of these non-GAAP measures, please refer to the appendix in today's earnings release, which is available on our website at stewart.com.

Let me now turn the call over to Fred.

Frederick Eppinger

Thank you for joining us today for Stewart's third quarter 2022 earnings conference call. David will go over the quarterly financial results in a minute, but before that, I'd like to cover our overall view of Stewart in the current market.

As I discussed before, much of the efforts over the last 2.5 years have focused on fundamentally restructuring the company's operating approach to better position ourselves on our journey to becoming the premier title services company. The long-term goal has been to create a stronger and more resilient business that can perform better through all real estate cycles and economic conditions.

We have focused on improving margins, growth and resiliency by improving our scale, our operating capabilities and our financial discipline. While the third quarter was very challenging, I am pleased with how we are managing in this rapidly changing environment. We saw our economic headwinds coming early in the year, and it is now clear that the back half of '22, likely the first half of '23 will be a very difficult environment for our industry.