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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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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