FNF Reports Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Fidelity National Financial, Inc. (FNF) reported strong financial results for Q4 and the full year 2024, with net earnings attributable to common shareholders of $450 million, or $1.65 per diluted share, compared to a net loss of $69 million, or $0.25 per share, in Q4 2023 [2][3] - The company achieved adjusted net earnings of $366 million, or $1.34 per share, for Q4 2024, up from $204 million, or $0.75 per share, in Q4 2023 [3][6] - For the full year 2024, FNF's total revenue reached $13.681 billion, a 16.4% increase from $11.752 billion in 2023 [6][32] Financial Performance - Total revenue for Q4 2024 was $3.621 billion, compared to $3.432 billion in Q4 2023, marking a 5.5% increase [6][15] - The Title Segment generated $2.0 billion in revenue for Q4 2024, a 17.6% increase from $1.7 billion in Q4 2023 [8][15] - F&G Segment achieved record gross sales of $15.3 billion for the full year 2024, a 16% increase over 2023 [12][16] Segment Contributions - The Title Segment contributed $263 million and $877 million for Q4 and full year 2024, respectively, compared to $174 million and $760 million in the same periods of 2023 [8][11] - The F&G Segment contributed $123 million and $475 million for Q4 and full year 2024, respectively, compared to $64 million and $285 million in 2023 [8][11] - F&G's assets under management (AUM) reached $65.3 billion at year-end 2024, a 17% increase from the previous year [5][16] Operational Efficiency - FNF achieved an industry-leading adjusted pre-tax Title margin of 16.6% for Q4 2024, compared to 11.8% in Q4 2023 [5][9] - The company has focused on operational efficiencies through its integrated operating platform, enhancing customer experience and exploring innovations such as generative AI tools [9][12] - The Title Segment's adjusted pre-tax earnings for the full year were $1.2 billion, up from $964 million in 2023 [15][32] Dividend and Cash Position - FNF paid common dividends of $0.50 per share, totaling $141 million in Q4 2024, and ended the year with $786 million in cash and short-term liquid investments [8][16] - The company maintains a strong balance sheet, supporting its sustainable dividend policy [8][12]