Fidelity National Financial misses Q3 estimates on revenue and profit

Fidelity National Financial (FNF) reported adjusted earnings of $1.32 per share for the third quarter of 2026, below the $1.34 consensus.

Shares were little changed at 9:47 a.m. ET, from a $42.89 close.

Revenue of $3.58 billion missed the $3.82 billion consensus.

Here's how the company did:

• Adjusted EPS: $1.32 vs. $1.63 a year earlier, $1.34 expected
• Revenue: $3.58 billion vs. $4.03 billion a year earlier, $3.82 billion expected
• Net earnings per diluted share: $2.37 vs. $1.33 a year earlier
• Adjusted net earnings: $352 million vs. $439 million a year earlier

Net earnings attributable to common shareholders were $633 million, including mark-to-market effects and non-recurring items excluded from the adjusted figure.

Net income moved from a loss of $117.0 million in the fourth quarter of 2025 to a profit of $243.0 million in the first quarter of 2026.

Segment results

The title segment contributed $315 million to adjusted net earnings, compared with $330 million a year earlier. Adjusted pre-tax title earnings rose 3% to $422 million, from $410 million.

The adjusted pre-tax title margin was 17.1%, against 17.8% in the third quarter of 2025. Direct title premiums were $755 million, an 11% increase.

F&G adjusted net earnings were $72 million, compared with $139 million a year earlier. The company's stake in F&G is about 72%, down from about 82% before the stock distribution at year-end.

F&G assets under management before reinsurance reached $76.2 billion, up 7% from $71.4 billion. Gross sales were $3.0 billion, including a record $2.1 billion of core retail sales.

Capital returns

The company returned about $143 million to shareholders in the third quarter, through $138 million of common stock dividends and $5 million of share repurchases.

In the first nine months of 2026, it returned about $561 million, including $417 million of dividends and $144 million of repurchases. The company ended the quarter with $545 million in cash and short-term liquid investments at the holding company.

Adjusted net earnings for the first nine months were $971 million, or $3.62 per share, against $970 million, or $3.57 per share, a year earlier.