https://assets.capyfin.com/instruments/678fdc13234e27009c5d58af.png avatar
Fidelity National Financial
🇺🇸 NYSE:FNF
View Company
OverviewEarningsDividends
•
Mar 31, 2021

Fidelity National Financial Q1 2021 Earnings Report

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

Key Takeaways

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.

Total Revenue
$3.1B
Previous year: $1.61B
+92.3%
EPS
$1.56
Previous year: $0.73
+113.7%
Adjusted Pre-Tax Title Margin
19.9%
Previous year: 14.4%
+38.2%
Commercial Revenue
$257M
Previous year: $245M
+4.9%
Gross Profit
$2.64B
Previous year: $1.2B
+120.0%
Cash and Equivalents
$3.03B
Previous year: $5.38B
-43.7%
Total Assets
$51.5B
Previous year: $10.2B
+404.6%

Fidelity National Financial

Fidelity National Financial

Fidelity National Financial Revenue by Segment

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.

Positive Outlook

  • 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.

Challenges Ahead

  • No specific negatives were mentioned in the provided text.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Fidelity National Financial