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Fidelity National (FNF) Q4 Earnings Lag Estimates & Down Y/Y
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Fidelity National Financial, Inc.’s (FNF - Free Report) fourth-quarter 2018 earnings of 63 cents per share missed the Zacks Consensus Estimate by 7.4% and also decreased 5% on a year-over-year basis. This downside is mainly due to declining revenues.
Quarterly Update
For the fourth quarter of 2018, total revenues of the company came in at $1.7 billion, down 14.2% year over year. Also, the bottom line lagged the Zacks Consensus Estimate by 12%.
Total commercial revenues of the company increased 13% year over year to $324 million, driven by rise in closed orders and higher total commercial fee per file.
In the quarter under review, adjusted net earnings totaled $175 million, up 2.9% year over year.
The company suffered realized losses of $144 million against the year-ago period’s realized gains of $2 million on account of the adoption of a new accounting standard in 2018.
Total expenses of the company decreased 7% to $1.6 billion from the year-ago quarter’s figure.
Adjusted pre-tax earnings of $258 million grew 5.5% year over year.
Adjusted pre-tax title margin of 14.4% contracted 30 basis points in the fourth quarter of 2018.
Fidelity National Financial, Inc. Price, Consensus and EPS Surprise
Among other players from the insurance industry that have reported fourth-quarter earnings so far, the bottom-line numbers of MGIC Investment Corporation (MTG - Free Report) , Chubb Limited (CB - Free Report) and The Travelers Companies, Inc. (TRV - Free Report) beat the respective Zacks Consensus Estimate.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
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Fidelity National (FNF) Q4 Earnings Lag Estimates & Down Y/Y
Fidelity National Financial, Inc.’s (FNF - Free Report) fourth-quarter 2018 earnings of 63 cents per share missed the Zacks Consensus Estimate by 7.4% and also decreased 5% on a year-over-year basis. This downside is mainly due to declining revenues.
Quarterly Update
For the fourth quarter of 2018, total revenues of the company came in at $1.7 billion, down 14.2% year over year. Also, the bottom line lagged the Zacks Consensus Estimate by 12%.
Total commercial revenues of the company increased 13% year over year to $324 million, driven by rise in closed orders and higher total commercial fee per file.
In the quarter under review, adjusted net earnings totaled $175 million, up 2.9% year over year.
The company suffered realized losses of $144 million against the year-ago period’s realized gains of $2 million on account of the adoption of a new accounting standard in 2018.
Total expenses of the company decreased 7% to $1.6 billion from the year-ago quarter’s figure.
Adjusted pre-tax earnings of $258 million grew 5.5% year over year.
Adjusted pre-tax title margin of 14.4% contracted 30 basis points in the fourth quarter of 2018.
Fidelity National Financial, Inc. Price, Consensus and EPS Surprise
Fidelity National Financial, Inc. Price, Consensus and EPS Surprise | Fidelity National Financial, Inc. Quote
Capital Position
Cash flow from operations stands at $273 million, up 49.2% year over year.
Total assets were $9.3 billion, up 1.6% year over year.
Total equity and non-controlling interests rose 3.3% year over year to $4.9 billion.
Total equity attributable to shareholders improved 4.1% year over year to $4.6 billion.
Zacks Rank and Performance of Other Insurers
Fidelity National carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other players from the insurance industry that have reported fourth-quarter earnings so far, the bottom-line numbers of MGIC Investment Corporation (MTG - Free Report) , Chubb Limited (CB - Free Report) and The Travelers Companies, Inc. (TRV - Free Report) beat the respective Zacks Consensus Estimate.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
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