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Fidelity National (FNF) Q4 Earnings Lag Estimates & Down Y/Y

Zacks Equity Research

Fidelity National Financial, Inc.’s FNF fourth-quarter 2018 earnings of 63 cents per share missed the Zacks Consensus Estimate by 7.4% and also decreased 5% on a year-over-year basis. This downside is mainly due to declining revenues.

Quarterly Update

For the fourth quarter of 2018, total revenues of the company came in at $1.7 billion, down 14.2% year over year. Also, the bottom line lagged the Zacks Consensus Estimate by 12%.

Total commercial revenues of the company increased 13% year over year to $324 million, driven by rise in closed orders and higher total commercial fee per file.

In the quarter under review, adjusted net earnings totaled $175 million, up 2.9% year over year.

The company suffered realized losses of $144 million against the year-ago period’s realized gains of $2 million on account of the adoption of a new accounting standard in 2018.

Total expenses of the company decreased 7% to $1.6 billion from the year-ago quarter’s figure.

Adjusted pre-tax earnings of $258 million grew 5.5% year over year.

Adjusted pre-tax title margin of 14.4% contracted 30 basis points in the fourth quarter of 2018.

Fidelity National Financial, Inc. Price, Consensus and EPS Surprise

Fidelity National Financial, Inc. Price, Consensus and EPS Surprise | Fidelity National Financial, Inc. Quote

Capital Position

Cash flow from operations stands at $273 million, up 49.2% year over year.

Total assets were $9.3 billion, up 1.6% year over year.

Total equity and non-controlling interests rose 3.3% year over year to $4.9 billion.

Total equity attributable to shareholders improved 4.1% year over year to $4.6 billion.

Zacks Rank and Performance of Other Insurers

Fidelity National carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other players from the insurance industry that have reported fourth-quarter earnings so far, the bottom-line numbers of MGIC Investment Corporation MTG, Chubb Limited CB and The Travelers Companies, Inc. TRV beat the respective Zacks Consensus Estimate.

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MGIC Investment Corporation (MTG) : Free Stock Analysis Report
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