Fidelity National Financial (FNF) Misses Q2 Earnings Estimates

Core Insights - Fidelity National Financial (FNF) reported quarterly earnings of $1.16 per share, missing the Zacks Consensus Estimate of $1.4 per share, and down from $1.24 per share a year ago [1] - The company posted revenues of $3.64 billion for the quarter, exceeding the Zacks Consensus Estimate by 3.08% and up from $3.16 billion year-over-year [3] - The stock has underperformed the market, gaining about 3.5% year-to-date compared to the S&P 500's 7.1% increase [4] Earnings Performance - The earnings surprise for the quarter was -17.14%, and the company has only surpassed consensus EPS estimates once in the last four quarters [2] - The previous quarter's earnings were $0.78 per share, which was a surprise of -30.97% against an expected $1.13 [2] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.51 on revenues of $3.63 billion, and for the current fiscal year, it is $5.15 on revenues of $13.67 billion [8] - The estimate revisions trend for FNF was unfavorable prior to the earnings release, resulting in a Zacks Rank 5 (Strong Sell) for the stock, indicating expected underperformance in the near future [7] Industry Context - The Insurance - Multi line industry, to which FNF belongs, is currently in the top 39% of Zacks industries, suggesting a favorable outlook compared to the bottom 50% [9]