Results for: Strategic Investments

Turkey’s cruise tourism industry is experiencing a surge in popularity, with passenger arrivals increasing by nearly 50% in 2023. The country’s strategic location at the crossroads of four seas and investments in modern terminals are contributing to its growing market share. Industry leaders are confident in reaching the target of 2 million cruise passengers in 2024, further bolstering the national economy. However, the Gaza Strip conflict poses a potential risk, but cruise lines remain optimistic.

Stewart Information Services Corporation (NYSE: STC) reported improved financial results for the first quarter of 2024 compared to the same period in 2023. The company’s net income attributable to Stewart increased to $0.93 per diluted share in Q1 2024, compared to a net loss of $0.33 per diluted share in Q1 2023. On an adjusted basis, Stewart’s Q1 2024 net income was $1.04 per diluted share, compared to $0.91 per diluted share in Q1 2023. Stewart’s first quarter 2024 pretax income before noncontrolling interests was $68.3 million (on an adjusted basis), compared to a pretax loss before noncontrolling interests of $28.2 million (pretax income of $29.7 million on an adjusted basis) for the first quarter of 2023. The company’s improved results were primarily driven by increased commercial revenues and investment income, partially offset by lower residential transaction volumes and higher expenses. Stewart’s CEO remains focused on strategic investments and balancing thoughtful cost discipline with long-term enterprise initiatives to create a stronger and more resilient company.