NYSE$FNF

Fidelity National Financial Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Reported diluted EPS from continuing operations of $2.06 and adjusted diluted EPS from continuing operations of $1.56.

Fidelity National Financial reported a strong first quarter in 2021, with total revenue of $3.1 billion compared to $1.6 billion in the first quarter of 2020. The company's diluted EPS from continuing operations was $2.06, and adjusted diluted EPS from continuing operations was $1.56. Net earnings from continuing operations reached $600 million, and adjusted net earnings from continuing operations were $455 million.

  • Total revenue reached $3.1 billion, a notable increase from $1.6 billion in the first quarter of 2020.
  • Diluted EPS from continuing operations stood at $2.06, with adjusted diluted EPS from continuing operations at $1.56.
  • Net earnings from continuing operations amounted to $600 million, while adjusted net earnings from continuing operations totaled $455 million.
  • Commercial revenue increased by 5% to $257 million, driven by a 12% increase in closed orders.

Headline financials

Total Revenue

$3.1B

Previous: $1.61B+92.3%
EPS (adj)

$1.56

Previous: $0.73+113.7%
Adjusted Pre-Tax Title Margin

19.9%

Previous: 14.4%+38.2%
Commercial Revenue

$257M

Previous: $245M+4.9%
Free Cash Flow

$605M

Previous: -$61M+1091.8%
Net Income

$605M

Previous: -$61M+1091.8%
Operating Income

$1.62B

Previous: $503M+221.1%
Gross Profit

$3.1B

Previous: $1.55B+99.3%
Cash & Equivalents

$3.03B

Previous: $890M+240.0%
Total Assets

$51.5B

Previous: $10.2B+404.6%
Stock-Based Comp

$11M

Previous: $9M+22.2%

Revenue & EPS history

Fidelity National Financial · Revenue · Quarterly

$3.1B

Q1 2021+92.3%vs Q1 2020
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

Fidelity National Financial · $2.56B total across 2 segments · Q1 2021

  • Title Segment
    $2.52B+55.2%
  • Corporate and Other
    $42M+481.8%

Forward guidance

The company's capital allocation strategy remains a key focus, with a disciplined approach to returning capital to shareholders while making necessary investments for growth. The company recently declared a second quarter dividend of $0.36 per share and continued share repurchases, executing against its $500 million share repurchase plan.

Tailwinds

  • Continued roll out of strategic technology initiatives improved production and delivery of core products and services.
  • Investment in proprietary title automation technology and engines that search and examine property records and other data sources.
  • Deployment of inHere® Experience Platform, leveraging cloud-based technology for a digital user experience.
  • Strong results in F&G with fixed indexed annuity sales at record quarterly levels.
  • Expansion into institutional products, including the pension risk transfer market, as a strategic focus.

Headwinds

  • No specific negatives were mentioned in the provided text.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

-0.2%

Avg return

Earnings day

+0.9%

Avg return

5 days after

+0.9%

Avg return

30 days after

51%

35 / 68 earnings

Positive

+5.8%

Q2 2018

Best reaction

-7.2%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.9%-7.2%-7.6%
Q4 2025-3.8%-5.0%-20.2%
Q3 2025+4.6%+7.2%+6.5%
Q1 2025-7.2%-10.9%-14.9%
Q4 2024+3.3%+6.8%+10.4%
Q3 2024-0.6%+1.2%+4.2%
Q2 2024-2.6%+0.2%+7.8%
Q1 2024+0.9%-1.4%-5.6%
Q4 2023-4.1%-5.1%-1.0%
Q3 2023+3.8%+5.1%+12.0%
Q2 2023+2.2%+5.6%+7.8%
Q1 2023-4.1%-1.3%+1.2%
Q4 2022-5.8%-5.5%-20.6%
Q3 2022-2.3%+7.3%-2.2%
Q2 2022-3.6%-2.2%-0.4%
Q1 2022-1.6%+1.2%+1.1%
Q4 2021-2.7%+2.1%+7.9%
Q3 2021-0.5%+3.7%+5.1%
Q2 2021+2.1%+6.1%+9.8%
Q1 2021+0.8%+0.6%+2.8%
Q4 2020-5.3%-2.8%+0.5%
Q3 2020+2.5%+2.1%+14.1%
Q2 2020+3.2%+7.4%+0.5%
Q1 2020+4.0%+8.0%+10.4%
Q4 2019+0.7%-0.6%-23.7%
Q3 2019+1.9%+3.4%+6.3%
Q2 2019+2.9%+2.8%+4.9%
Q1 2019+2.2%+0.8%-0.0%
Q4 2018-1.3%-3.4%-2.6%
Q3 2018-6.0%-5.6%-5.4%
Q2 2018+5.8%+7.8%+6.0%
Q1 2018+2.2%+1.3%+1.2%
Q4 2017-2.7%-5.3%-4.1%
Q3 2017+2.9%+4.9%+14.5%
Q2 2017+0.0%+2.9%+3.3%
Q1 2017+2.1%+2.1%+7.9%
Q4 2016+1.5%+3.3%+7.2%
Q3 2016-5.2%-5.2%-11.4%
Q2 2016+1.9%+3.7%+0.2%
Q1 2016-2.2%
Q4 2015+3.8%
Q3 2015+1.3%
Q2 2015+0.8%
Q1 2015+0.9%
Q4 2014-2.7%
Q3 2014-0.8%
Q2 2014+1.1%
Q1 2014+1.5%
Q4 2013+2.6%
Q3 2013-0.5%
Q2 2013-1.7%
Q1 2013-5.5%
Q4 2012-1.3%
Q3 2012+3.3%
Q2 2012-1.8%
Q1 2012+0.1%
Q4 2011+0.5%
Q3 2011+1.8%
Q2 2011+3.3%
Q1 2011+1.8%
Q4 2008-2.7%
Q4 2010-2.7%
Q3 2009+0.9%
Q3 2010+0.9%
Q4 2009-0.9%
Q2 2009-0.9%
Q2 2010-0.9%
Q1 2010-2.2%

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