graphic20163qa02.jpg
FNF Group Reports Fourth Quarter 2016 Diluted EPS of $0.83 and Adjusted Diluted EPS of $0.71, Pre-Tax Title Margin of 19.5% and Adjusted Pre-Tax Title Margin of 15.8%; $97 Million Pre-Tax Credit Recorded to Claims Loss Expense and Claims Provision Reduced to 5%
  
Jacksonville, Fla. - (February 1, 2017) - Fidelity National Financial, Inc. today reported the operating results of FNF Group (NYSE:FNF), a leading provider of title insurance, technology and transaction services to the real estate and mortgage industries, for the three and twelve-month periods ended December 31, 2016.

Total revenue of approximately $2.2 billion in the fourth quarter versus $1.9 billion in the fourth quarter of 2015
Fourth quarter net earnings of $231 million and adjusted net earnings of $198 million versus net earnings of $144 million and adjusted net earnings of $155 million for the fourth quarter of 2015
Fourth quarter diluted EPS of $0.83 and adjusted diluted EPS of $0.71 versus diluted EPS of $0.51 and adjusted diluted EPS of $0.55 in the fourth quarter of 2015
A $97 million pre-tax credit was recorded to claim loss expense in the fourth quarter, reducing a redundancy in the reserve for title claim losses balance and making the reserve consistent with the actuarial central estimate
Fourth quarter net cash flow provided by operations of $372 million and free cash flow provided of $330 million versus net cash flow provided by operations of $257 million and free cash flow provided of $205 million in the fourth quarter of 2015
Repurchased 550,000 shares of FNF common stock for approximately $18.5 million in the fourth quarter
 
Title
Approximately $1.8 billion in total revenue, a 12% increase over the approximately $1.6 billion in total revenue in the fourth quarter of 2015
Pre-tax earnings of $360 million and adjusted pre-tax earnings of $292 million versus pre-tax earnings of $216 million and adjusted pre-tax earnings of $225 million in the fourth quarter of 2015
Pre-tax title margin of 19.5% and adjusted pre-tax title margin of 15.8% versus pre-tax title margin of 13.2% and adjusted pre-tax title margin of 13.8% in the fourth quarter of 2015
Claims loss provision was reduced to 5% for the fourth quarter and future quarters, driven by significantly lower title loss payments related to policy years since 2009
ServiceLink generated $198 million in revenue, adjusted pre-tax earnings of $25 million and an adjusted pre-tax margin of 12.6% for the fourth quarter
Open orders per day of 7,645 for the fourth quarter versus 7,000 open orders per day for the fourth quarter of 2015
Closed orders per day of 6,758 for the fourth quarter versus 5,413 closed orders per day for the fourth quarter of 2015
Fourth quarter purchase orders opened and closed increased by 5% and 10%, respectively, versus the fourth quarter of 2015; for FNTG only (excluding ServiceLink), purchase orders opened and closed increased by 5% and 11%, respectively versus the fourth quarter of 2015
Total commercial revenue of $285 million, a 6% decrease from total commercial revenue in the fourth quarter of 2015, driven by a 4% decrease in closed orders and a 1% decrease in total commercial fee per file; fourth quarter total commercial open orders decreased 1% compared to the prior year; fourth quarter national commercial title revenue of $167 million, a 9% decrease from the fourth quarter of 2015, driven by a 4% decline in the national commercial fee per file and a 4% decrease in closed orders; fourth quarter national commercial open orders declined by 1%
Overall fourth quarter average fee per file of $2,091, an 8% decrease versus the fourth quarter of 2015
Title claims paid of $76 million, a decrease of $8 million, or 10%, from the fourth quarter of 2015






1

The following information was filed by Fidelity National Financial, Inc. (FNF) on Wednesday, February 1, 2017 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.

View differences made from one year to another to evaluate Fidelity National Financial, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Fidelity National Financial, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

FREE Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account