First American Financial Corporation (NYSE:FAF) Q1 2024 Earnings Conference Call April 25, 2024 11:00 AM ET
Company Participants
Craig Barberio - Vice President-Investor Relations
Ken DeGiorgio - Chief Executive Officer
Mark Seaton - Executive Vice President & Chief Financial Officer
Conference Call Participants
Bose George - KBW
Terry Ma - Barclays
Soham Bhonsle - BTIG
Mark Hughes - Truist Securities
John Campbell - Stephens
Operator
Greetings, and welcome to the First American Financial Corporation First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]
A copy of today's press release is available on First American's website at www.firstam.com/investor. Please note that this call is being recorded and will be available for replay from the company's investor website and for a short time by dialing 877-660-853 or 201-612-7415 and enter the conference ID 13745815.
And we will now turn the call over to Craig Barberio, Vice President, Investor Relations to make an introductory statement.
Craig Barberio
Thank you, operator. Good morning, everyone and welcome to First American's earnings conference call for the first quarter of 2024. Joining us today on the call will be our Chief Executive Officer, Ken DeGiorgio; and Mark Seaton, Executive Vice President and Chief Financial Officer.
Some of the statements made today may contain forward-looking statements that do not relate strictly to historical or current fact. These forward-looking statements speak only as of the date they are made and the company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. For more information on these risks and uncertainties please refer to yesterday's earnings release and the risk factors discussed on our Form 10-K and subsequent SEC filings.
Our presentation today contains certain non-GAAP financial measures that we believe provide additional insight into the operational efficiency and performance of the company relative to earlier periods and relative to the company's competitors. For more details on these non-GAAP financial measures including presentation risk and reconciliation to the most directly comparable GAAP financials please refer to yesterday's earnings release which is available on our website at www.firstam.com.
I will now turn the call over to Ken DeGiorgio.
Ken DeGiorgio
Thank you, Craig. Market conditions in the real estate and mortgage industries continued to be a challenge in the seasonally weak first quarter. Elevated mortgage rates and low albeit growing inventory levels have caused transaction volumes to remain near historically low levels.