earnings
confidence high
sentiment negative
materiality 0.75
FNF Q1 net earnings $397M ($1.40/diluted) down 34%; F&G partial spin-off on track for H2 2022
Fidelity National Financial, Inc.
2022-Q1 EPS reported
$1.40
revenue$3,165,000,000
- Adjusted net earnings $388M ($1.37/sh) vs $455M ($1.56) YoY; Title adjusted pre-tax margin 17.1% vs 19.9%.
- F&G sales $2.6B (+57% YoY), AUM $38.6B; F&G adjusted net earnings $82M vs $78M.
- Title revenue $2.4B flat YoY; commercial revenue $374M (+46%); refinance orders closed -58%.
- Partial spin-off of 15% of F&G expected late Q3/early Q4 2022; FNF retains 85% control; ticker FG reserved.
- FNF repurchased 2.75M shares for $134M, paid $0.44/share dividend; holding company cash $1.5B.