Shares of First American Financial (FAF) are soaring 5.68% in pre-market trading on Thursday following the company's impressive third-quarter earnings report. The property and casualty insurance provider significantly outperformed analyst expectations, demonstrating robust financial performance and growth.

First American reported adjusted earnings per share (EPS) of $1.70 for the quarter ended September 30, handily beating the mean analyst estimate of $1.45. This marks a substantial improvement from the $1.34 EPS reported in the same quarter last year. Revenue also surged by 40.6% year-over-year to $1.98 billion, surpassing the Street's forecast of $1.86 billion. The company's net income for the quarter stood at a solid $189.6 million.

The strong quarterly results continue First American's trend of outperforming expectations, as the company has now beaten earnings estimates for four consecutive quarters. This consistent performance has bolstered investor confidence, reflected in the stock's pre-market surge. Additionally, Wall Street remains bullish on FAF, with a median 12-month price target of $76.00, representing a potential upside of 19.6% from its last closing price. The positive outlook is further supported by analyst ratings, with three "strong buy" or "buy" recommendations and one "hold" among covering analysts.