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Fidelity National Financial, Inc. (FNF) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Fidelity National Financial, Inc.

CIK: 1331875 Ticker: FNF


graphic20183qaa02.jpg
FNF Reports Third Quarter 2018 Diluted EPS of $0.85 and Adjusted Diluted EPS of $0.78, Pre-Tax Title Margin of 16.2% and Adjusted Pre-Tax Title Margin of 15.6%
  
Jacksonville, Fla. - (October 24, 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 and nine-month periods ended September 30, 2018.

Total revenue of approximately $2.1 billion in the third quarter versus $2.0 billion in the third quarter of 2017
Third quarter net earnings of $236 million and adjusted net earnings of $218 million versus net earnings from continuing operations of $156 million and adjusted net earnings from continuing operations of $174 million for the third quarter of 2017
Third quarter diluted EPS of $0.85 and adjusted diluted EPS of $0.78 versus diluted EPS from continuing operations of $0.57 and adjusted diluted EPS from continuing operations of $0.63 in the third quarter of 2017

Title
Total revenue of approximately $1.9 billion versus approximately $1.9 billion in total revenue in the third quarter of 2017
Pre-tax earnings of $309 million and adjusted pre-tax earnings of $297 million versus pre-tax earnings of $262 million and adjusted pre-tax earnings of $287 million in the third quarter of 2017
Pre-tax title margin of 16.2% and adjusted pre-tax title margin of 15.6% versus pre-tax title margin of 14.0% and adjusted pre-tax title margin of 15.3% in the third quarter of 2017
Third quarter purchase orders opened increased 0.3% and purchase orders closed decreased 1%, respectively, versus the third quarter of 2017
Total commercial revenue of $271 million, an 8% increase over total commercial revenue in the third quarter of 2017, driven by a 16% increase in total commercial fee per file and a 7% decrease in closed orders; third quarter total commercial open orders increased 1% compared to the prior year
Overall third quarter average fee per file of $2,623, an 11% increase versus the third quarter of 2017

Title Orders
 
 
 
Direct Orders Opened *
 
 
Direct Orders Closed *
Month
 
 / (% Purchase)
 
 / (% Purchase)
July 2018
 
 
158,000
70%
 
 
116,000
71%
August 2018
 
 
165,000
69%
 
 
123,000
71%
September 2018
 
 
133,000
69%
 
 
100,000
70%
 
 
 
 
 
 
 
Third Quarter 2018
 
 
456,000
69%
 
 
339,000
71%
 
 
 
 
 
 
 

 
 
 
Direct Orders Opened *
 
 
Direct Orders Closed *
Month
 
 / (% Purchase)
 
 
 / (% Purchase)
July 2017
 
 
159,000
66%
 
 
118,000
66%
August 2017
 
 
181,000
61%
 
 
131,000
65%
September 2017
 
 
161,000
59%
 
 
118,000
63%
 
 
 
 
 
 
 
Third Quarter 2017
 
 
501,000
62%
 
 
367,000
65%
 
 
 
 
 
 
 
 
 
* 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, October 24, 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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Inside Fidelity National Financial, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Equity
Condensed Consolidated Statement Of Equity (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Earnings
Condensed Consolidated Statements Of Comprehensive Earnings (Parenthetical)
Condensed Consolidated Statements Of Earnings
Acquisitions
Acquisitions - Assets Acquired And Liabilities Assumed (Details)
Acquisitions - Consideration Paid (Details)
Acquisitions (Tables)
Acquisitions - Estimated Useful Lives (Details)
Acquisitions - Narrative (Details)
Basis Of Financial Statements
Basis Of Financial Statements (Policies)
Basis Of Financial Statements - Discontinued Operations (Details)
Basis Of Financial Statements - Earnings Per Share (Details)
Basis Of Financial Statements - Income Tax (Details)
Basis Of Financial Statements - Other Developments (Details)
Basis Of Financial Statements - Other Pronouncements (Details)
Basis Of Financial Statements - Recent Developments (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Schedule Of Future Minimum Operating Lease Commitments (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Fnfv (Details)
Discontinued Operations - Reconciliation Of Net Earnings Of Discontinued Operations To The Statement Of Operations (Details)
Discontinued Operations - Reconciliation Of Operations Of Black Knight To The Statement Of Operations (Details)
Discontinued Operations - Summary Of Operations Of Disposal Group Included In Discontinued Operations (Details)
Dividends
Dividends (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Fair Value Hierarchy For Assets And Liabilities Measured On A Recurring Basis (Details)
Fair Value Measurements - Summary Of Changes In Fair Value Of Level 3 Assets Measured On A Recurring Basis (Details)
Goodwill
Goodwill (Details)
Goodwill (Tables)
Investments
Investments (Tables)
Investments - Maturity Of Fixed Maturity Securities (Details)
Investments - Narrative (Details)
Investments - Realized Gains And Losses And Proceeds On Investments And Other Assets (Details)
Investments - Schedule Of Carrying Amount And Fair Value Of Available For Sale Securities (Details)
Investments - Securities In A Continuous Unrealized Loss Position (Details)
Notes Payable
Notes Payable (Tables)
Notes Payable - 4.25% Notes (Details)
Notes Payable - 4.50% Notes (Details)
Notes Payable - 5.50% Notes (Details)
Notes Payable - Existing Credit Agreement (Details)
Notes Payable - Long Term Debt Narrative (Details)
Notes Payable - Principal Maturities Of Notes Payable (Details)
Notes Payable - Schedule Of Long Term Debt (Details)
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition (Tables)
Revenue Recognition - Information About Receivables And Deferred Revenue (Details)
Segment Information
Segment Information (Tables)
Segment Information - Schedule Of Segment Reporting Information (Details)
Summary Of Reserve For Claims Losses
Summary Of Reserve For Claims Losses (Details)
Summary Of Reserve For Claims Losses (Tables)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)

Material Contracts, Statements, Certifications & more

Fidelity National Financial, Inc. provided additional information to their SEC Filing as exhibits

Ticker: FNF
CIK: 1331875
Form Type: 10-Q Quarterly Report
Accession Number: 0001331875-18-000062
Submitted to the SEC: Fri Oct 26 2018 12:27:32 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Title Insurance

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