Mortgage

Old Republic International beats 3Q expectations

Posts total revenue of $1.5 billion

Old Republic International (ORI) reported total revenue of $1.5 billion for the third quarter of 2015, up from $1.4 billion for the same period a year ago.

The company also posted earnings per share of $0.35, up from $0.25 a year ago.

Both total revenue and EPS beat analyst estimates by $60 million and $0.11, respectively.

Meanwhile, third quarter mortgage guaranty operating results were constrained by greater provisions for disputed claims in litigation.

However, the company said, “continued declines in reported delinquencies and the higher rates at which previously reported defaults are cured or otherwise resolved without payment dampened normally occurring claim provisions in the latest quarter.”

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