NYSE$FNF

Fidelity National Financial Inc · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Fidelity National Financial reported financial results for Q1 2024, with net earnings attributable to common shareholders of $248 million and adjusted net earnings of $206 million.

Fidelity National Financial (FNF) reported a net income of $248 million, or $0.91 per share, for the first quarter of 2024, compared to a net loss of $59 million, or $0.22 per share, for the first quarter of 2023. Adjusted net earnings were $206 million, or $0.76 per share, compared to $151 million, or $0.56 per share, for the first quarter of 2023. The Title Segment contributed $130 million, and the F&G Segment contributed $95 million.

  • Title Segment revenue and margin uplift despite difficult market conditions with adjusted pre-tax title margin of 10.7%.
  • F&G Segment experienced sustainable sales growth across multi-channel platform and record assets under management.
  • FNF paid common dividends of $0.48 per share for $130 million.
  • F&G achieved record assets under management (AUM) of $49.8 billion as of March 31, 2024.

Headline financials

Total Revenue

$3.3B

Previous: $2.47B+33.3%
EPS (adj)

$0.76

Previous: $0.52+46.2%
Free Cash Flow

$248M

Previous: -$59M+520.3%
Net Income

$248M

Previous: -$59M+520.3%
Operating Income

$2.17B

Previous: $1.43B+52.3%
Gross Profit

$3.2B

Previous: $2.37B+34.8%
Cash & Equivalents

$3.52B

Previous: $2.82B+24.7%
Total Assets

$84.5B

Previous: $69.7B+21.3%
Stock-Based Comp

$16M

Previous: $14M+14.3%

Revenue & EPS history

Fidelity National Financial · Revenue · Quarterly

$3.3B

Q1 2024+33.3%vs Q1 2023
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

Fidelity National Financial · $1.93B total across 2 segments · Q3 2023

  • Title Segment
    $1.88B-18.2%
  • Corporate and Other
    $52M+271.4%

Forward guidance

FNF is focused on managing the Company prudently and maintaining a balanced capital allocation strategy focused on growing the business through attractive acquisitions while maintaining a steady return of capital to shareholders through the quarterly dividend.

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 2024

Historical avgQ1 2024

-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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