Catastrophe risk modeller CoreLogic has announced a first quarter operating income of $85 million, up by $30 million from the prior year quarter.
Meanwhile, revenues of $423 million represent a 20% increase over the prior year.
Net income from continuing operations was reported at $55 million, up by $31 million.
“Capitalizing on momentum from record 2020 performance, CoreLogic delivered strong double-digit revenue and profit growth and expanded profit margins during the first three months of 2021,” said Frank Martell, President and Chief Executive Officer.
“Free cash flow conversion rates enabled the return of $24 million in capital to our stockholders and paydown of $100 million in debt.”
“Looking ahead, share gains, pricing and the launch of new innovative solutions in insurance, geospatial and core mortgage should position us well to continue to accelerate our positive operating and financial trends well into the future.
“CoreLogic is firing on all cylinders and we have started 2021 with strong momentum and believe we are well positioned to capitalize on our many value-creation opportunities over the balance of this year and beyond,” Martell added.