Please wait while we load the requested 10-Q report or click the link below:
https://last10k.com/sec-filings/report/1331875/000133187519000034/fnf06301910q.htm
FNF Reports Second Quarter 2019 Diluted EPS of $0.96 and Adjusted Diluted EPS of $0.92, Pre-Tax Title Margin of 18.5% and Adjusted Pre-Tax Title Margin of 17.7%
Jacksonville, Fla. - (July 16, 2019) - 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 six-month periods ended June 30, 2019.
• | Total revenue of approximately $2.1 billion in the second quarter versus $2.1 billion in the second quarter of 2018 |
• | Second quarter net earnings of $266 million and adjusted net earnings of $255 million versus net earnings of $251 million and adjusted net earnings of $239 million for the second quarter of 2018 |
• | Second quarter diluted EPS of $0.96 and adjusted diluted EPS of $0.92 versus diluted EPS of $0.90 and adjusted diluted EPS of $0.86 in the second quarter of 2018 |
• | Realized gains were $41 million in the second quarter versus realized losses of $16 million in the second quarter of 2018, primarily due to the adoption of a new accounting standard in 2018 that requires mark to market accounting treatment of equity and preferred stock securities and recognition of the related changes in fair value in realized gains and losses, whether the securities were disposed of in the quarter or continue to be held in our investment portfolio |
Title
• | Total revenue of approximately $2.1 billion versus approximately $2.0 billion in total revenue in the second quarter of 2018 |
• | Pre-tax earnings of $387 million and adjusted pre-tax earnings of $363 million versus pre-tax earnings of $300 million and adjusted pre-tax earnings of $337 million in the second quarter of 2018 |
• | Pre-tax title margin of 18.5% and adjusted pre-tax title margin of 17.7% versus pre-tax title margin of 15.3% and adjusted pre-tax title margin of 17.1% in the second quarter of 2018 |
• | Second quarter purchase orders opened decreased 2% on a daily basis and purchase orders closed decreased 6% on a daily basis versus the second quarter of 2018 |
• | Total commercial revenue of $286 million, a 2% increase versus total commercial revenue in the second quarter of 2018, driven by a 5% increase in total commercial fee per file somewhat offset by a 3% decrease in closed orders; second quarter total commercial orders opened increased 8% compared to the prior year |
• | Overall second quarter average fee per file of $2,677, a 4% increase versus the second quarter of 2018 |
Title Orders
Direct Orders Opened * | Direct Orders Closed * | |||||||
Month | / (% Purchase) | / (% Purchase) | ||||||
April 2019 | 184,000 | 63% | 114,000 | 65% | ||||
May 2019 | 179,000 | 63% | 127,000 | 64% | ||||
June 2019 | 181,000 | 57% | 118,000 | 65% | ||||
Second Quarter 2019 | 544,000 | 61% | 359,000 | 65% | ||||
Direct Orders Opened * | Direct Orders Closed * | |||||||
Month | / (% Purchase) | / (% Purchase) | ||||||
April 2018 | 167,000 | 70% | 114,000 | 69% | ||||
May 2018 | 175,000 | 72% | 124,000 | 71% | ||||
June 2018 | 163,000 | 71% | 124,000 | 73% | ||||
Second Quarter 2018 | 505,000 | 71% | 362,000 | 71% | ||||
* Includes an immaterial number of non-purchase and non-refinance orders
1
The following information was filed by Fidelity National Financial, Inc. (FNF) on Tuesday, July 16, 2019 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.
View differences made from one quarter to another to evaluate Fidelity National Financial, Inc.'s financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Fidelity National Financial, Inc..
Fidelity National Financial, Inc.
Email AlertsQuarterly Reports
-
10-Q Quarterly Report July 2019
- 10-Q Quarterly Report April 2019
- 10-Q Quarterly Report October 2018
- 10-Q Quarterly Report August 2018
- 10-Q Quarterly Report May 2018
