Fidelity National Financial Q1 2024 Earnings Report
Key Takeaways
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.
Fidelity National Financial
Fidelity National Financial
Fidelity National Financial Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income