Fidelity National Financial (FNF) Reports In-Line Q4 EPS, Slight Beat on Revenues

Fidelity National Financial (NYSE: FNF) reported Q4 EPS of $0.60, in-line with the analyst estimate of $0.60. Revenue for the quarter came in at $1.98 billion versus the consensus estimate of $1.93 billion.

• Total revenue of approximately $2.0 billion in the fourth quarter versus $1.9 billion in the fourth quarter of 2016
• Fourth quarter net earnings from continuing operations of $246 million and adjusted net earnings from continuing operations of $170 million versus net earnings from continuing operations of $222 million and adjusted net earnings from continuing operations of $182 million for the fourth quarter of 2016
• Fourth quarter diluted EPS from continuing operations of $0.88 and adjusted diluted EPS from continuing operations of $0.60 versus diluted EPS from continuing operations of $0.80 and adjusted diluted EPS from continuing operations of $0.65 in the fourth quarter of 2016
• A $93 million credit adjustment was recorded to revalue the net deferred tax liability position given the recent passage of federal tax regulation; this was excluded from both adjusted net earnings and adjusted diluted EPS
• The fourth quarter of 2016 included a $97 million pre-tax credit recorded to claims loss expense, reducing a redundancy in the reserve for title claim losses balance and making the reserve consistent with the actuarial central estimate; this was excluded from both adjusted net earnings and adjusted diluted EPS

For earnings history and earnings-related data on Fidelity National Financial (FNF) click here.

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