Fidelity National Financial Reports Q3 2024 Results

Fidelity National Financial Class A ( (FNF) ) has released its Q3 earnings. Here is a breakdown of the information Fidelity National Financial Class A presented to its investors.

Fidelity National Financial, Inc. (NYSE:FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries, as well as insurance solutions through its subsidiary F&G Annuities & Life, Inc. (NYSE:FG), serving both retail and institutional clients.

In its third quarter of 2024 financial results, Fidelity National Financial (FNF) reported net earnings attributable to common shareholders of $266 million, or $0.97 per diluted share, down from $426 million, or $1.57 per share, in the same quarter of the previous year. Adjusted net earnings showed an increase, reaching $356 million, or $1.30 per share, compared to $333 million, or $1.23 per share, the prior year.

FNF’s Title Segment maintained strong revenue, achieving a 12% increase to $2.1 billion over the same quarter in 2023, with a slight dip in adjusted pre-tax title margin to 15.9%. Meanwhile, the F&G Segment experienced significant growth, with gross sales rising by 39% to $3.9 billion and assets under management reaching a record $62.9 billion, marking a 20% increase from the previous year. Furthermore, FNF sustained a strong balance sheet, paying dividends of $0.48 per share valued at $130 million, while maintaining $822 million in cash and liquid investments.

Looking ahead, the management anticipates continued growth and stability across its businesses, with the Title Segment poised for a rebound as market conditions improve and F&G benefiting from ongoing demand for annuities and favorable interest rates. The company remains committed to strategic investments and operational efficiencies to sustain its performance in challenging markets.