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FNF Reports First Quarter 2018 Diluted EPS of $0.35 and Adjusted Diluted EPS of $0.42, Pre-Tax Title Margin of 10.3% and Adjusted Pre-Tax Title Margin of 11.7%
  
Jacksonville, Fla. - (May 2, 2018) - 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-month period ended March 31, 2018.

Total revenue of approximately $1.7 billion in the first quarter versus $1.6 billion in the first quarter of 2017
First quarter net earnings of $97 million and adjusted net earnings of $118 million versus net earnings from continuing operations of $61 million and adjusted net earnings from continuing operations of $99 million for the first quarter of 2017
First quarter diluted EPS of $0.35 and adjusted diluted EPS of $0.42 versus diluted EPS from continuing operations of $0.22 and adjusted diluted EPS from continuing operations of $0.35 in the first quarter of 2017

Title
Total revenue of approximately $1.6 billion versus approximately $1.6 billion in total revenue in the first quarter of 2017
Pre-tax earnings of $163 million and adjusted pre-tax earnings of $186 million versus pre-tax earnings of $151 million and adjusted pre-tax earnings of $175 million in the first quarter of 2017
Pre-tax title margin of 10.3% and adjusted pre-tax title margin of 11.7% versus pre-tax title margin of 9.6% and adjusted pre-tax title margin of 11.1% in the first quarter of 2017
First quarter purchase orders opened and closed increased by 4% and decreased by 1%, respectively, versus the first quarter of 2017
Total commercial revenue of $230 million, a 3% increase over total commercial revenue in the first quarter of 2017, driven by a 5% increase in closed orders and a 3% decline in total commercial fee per file; first quarter total commercial open orders increased 7% compared to the prior year
Overall first quarter average fee per file of $2,344, a 9% increase versus the first quarter of 2017

Title Orders
 
 
 
Direct Orders Opened *
 
 
Direct Orders Closed *
Month
 
 / (% Purchase)
 
 / (% Purchase)
January 2018
 
 
158,000
62%
 
 
101,000
58%
February 2018
 
 
148,000
66%
 
 
96,000
62%
March 2018
 
 
172,000
69%
 
 
116,000
66%
 
 
 
 
 
 
 
First Quarter 2018
 
 
478,000
66%
 
 
313,000
62%
 
 
 
 
 
 
 

 
 
 
Direct Orders Opened *
 
 
Direct Orders Closed *
Month
 
 / (% Purchase)
 
 
 / (% Purchase)
January 2017
 
 
144,000
62%
 
 
112,000
53%
February 2017
 
 
145,000
64%
 
 
99,000
57%
March 2017
 
 
183,000
65%
 
 
123,000
64%
 
 
 
 
 
 
 
First Quarter 2017
 
 
472,000
64%
 
 
334,000
58%
 
 
 
 
 
 
 
 
 

* Includes an immaterial number of non-purchase and non-refinance orders

1

The following information was filed by Fidelity National Financial, Inc. (FNF) on Wednesday, May 2, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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