fnfgraphic20194qa03.jpg
FNF Reports Fourth Quarter 2019 Diluted EPS of $1.22 and Adjusted Diluted EPS of $0.95, Pre-Tax Title Margin of 20.3% and Adjusted Pre-Tax Title Margin of 16.3%
  
Jacksonville, Fla. - (February 13, 2020) - Fidelity National Financial, Inc. (NYSE:FNF), a leading provider of title insurance and transaction services to the real estate and mortgage industries, today reported operating results for the three and twelve-month periods ended December 31, 2019.

Total revenue of approximately $2.4 billion in the fourth quarter versus $1.7 billion in the fourth quarter of 2018
Fourth quarter net earnings of $340 million and adjusted net earnings of $263 million versus net earnings of $44 million and adjusted net earnings of $175 million for the fourth quarter of 2018
Fourth quarter diluted EPS of $1.22 and adjusted diluted EPS of $0.95 versus diluted EPS of $0.16 and adjusted diluted EPS of $0.63 in the fourth quarter of 2018
Realized gains were $131 million in the fourth quarter versus realized losses of $144 million in the fourth quarter of 2018

Title
Total revenue of approximately $2.3 billion versus approximately $1.7 billion in total revenue in the fourth quarter of 2018
Pre-tax earnings of $468 million and adjusted pre-tax earnings of $355 million versus pre-tax earnings of $102 million and adjusted pre-tax earnings of $258 million in the fourth quarter of 2018
Pre-tax title margin of 20.3% and adjusted pre-tax title margin of 16.3% versus pre-tax title margin of 6.1% and adjusted pre-tax title margin of 14.2% in the fourth quarter of 2018
Fourth quarter purchase orders opened increased 3% on a daily basis and purchase orders closed increased 5% on a daily basis versus the fourth quarter of 2018
Total commercial revenue of $321 million, a 2% decline over total commercial revenue in the fourth quarter of 2018, driven by a 12% decline in fee per file partially offset by a 11% increase in closed orders; fourth quarter total commercial open orders increased 20% compared to the prior year
Overall fourth quarter average fee per file of $2,384, a 15% decrease versus the fourth quarter of 2018

Title Orders
 
 
 
Direct Orders Opened *
 
 
Direct Orders Closed *
Month
 
 / (% Purchase)
 
 / (% Purchase)
October 2019
 
 
195,000
50%
 
 
153,000
48%
November 2019
 
 
157,000
49%
 
 
127,000
49%
December 2019
 
 
140,000
51%
 
 
137,000
50%
 
 
 
 
 
 
 
Fourth Quarter 2019
 
 
492,000
50%
 
 
417,000
49%
 
 
 
 
 
 
 
 
 
 
Direct Orders Opened *
 
 
Direct Orders Closed *
Month
 
 / (% Purchase)
 
 
 / (% Purchase)
October 2018
 
 
150,000
69%
 
 
111,000
68%
November 2018
 
 
123,000
68%
 
 
95,000
70%
December 2018
 
 
106,000
65%
 
 
95,000
68%
 
 
 
 
 
 
 
Fourth Quarter 2018
 
 
379,000
67%
 
 
301,000
69%
 
 
 
 
 
 
 
 
 
* Includes an immaterial number of non-purchase and non-refinance orders

1

The following information was filed by Fidelity National Financial, Inc. (FNF) on Thursday, February 13, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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