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Fidelity National Earnings: FNF Stock Up 2% as EPS Gains 7% Y2Y

Profit surpassed Wall Street consensus as well

Fidelity National (NYSE:FNF) posted its quarterly earnings results late today, bringing in a profit that increased about 7% year-over-year, topping expectations and propelling FNF stock forward after Wall Street closed.

Fidelity National Earnings
Source: Shutterstock

The Jacksonville, Fla.-based title insurance business, which is a Fortune 500 company, reported net income of $255 million, which tallied up to about 92 cents per share. In the year-ago period, the business posted a profit of $239 million, or 86 cents per share–this amounts to a year-over-year gain of 6.7% in this metric.

It was a positive period for Fidelity National as its earnings total surpassed the 86 cents per share that analysts were calling for. Total revenue tallied up to $2.14 billion for the organization, a 2.4% surge that also bettered the Wall Street consensus guidance of $2.08 billion.

The company added that its title adjusted pretax profit totaled $363 million, about 7.7% higher than the $337 million from the same period a year ago. Plus, Fidelity National’s adjusted pretax title margin was 17.7%, better than the 17.1% from the same period a year ago.

The brand’s purchase orders opened fell about 2% on a daily basis, while its purchase orders closed fell 6% on a daily basis when compared to the year-ago period.

FNF stock is up about 2% after hours off the heels of a strong quarterly performance. Shares had been up a fraction of a percentage during regular trading.


Article printed from InvestorPlace Media, https://investorplace.com/2019/07/fidelity-national-earnings-fnf-stock/.

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