FNF Reports Fourth Quarter 2020 Diluted EPS from Continuing Operations of $2.74 and Adjusted Diluted EPS from Continuing Operations of $2.01, Pre-Tax Title Margin of 29.4% & Adjusted Pre-Tax Title Margin of 22.7%.

JACKSONVILLE, Fla: Fidelity National Financial, Inc. (NYSE:FNF), a leading provider of title insurance and transaction services to the real estate and mortgage industries, today reported operating results for the period ended December 31, 2020.

Total revenue of approximately $3.8 billion in the fourth quarter versus $2.4 billion in the fourth quarter of 2019

Fourth quarter net earnings from continuing operations of $803 million and adjusted net earnings from continuing operations of $588 million versus net earnings of $340 million and adjusted net earnings of $263 million for the fourth quarter of 2019

Fourth quarter diluted EPS from continuing operations of $2.74 and adjusted diluted EPS from continuing operations of $2.01 versus diluted EPS of $1.22 and adjusted diluted EPS of $0.95 in the fourth quarter of 2019

Recognized gains were $573 million in the fourth quarter versus recognized gains of $131 million in the fourth quarter of 2019 primarily due to mark to market accounting treatment of equity and preferred stock securities whether the securities were disposed of in the quarter or continue to be held in our investment portfolio

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Total revenue of approximately $3.0 billion versus approximately $2.3 billion in total revenue in the fourth quarter of 2019

Total revenue, excluding recognized gains and losses, of approximately $2.8 billion versus approximately $2.2 billion in the fourth quarter of 2019, an increase of 26.6%

Pre-tax earnings of $896 million and adjusted pre-tax earnings of $624 million versus pre-tax earnings of $468 million and adjusted pre-tax earnings of $355 million in the fourth quarter of 2019

Pre-tax title margin of 29.4% and adjusted pre-tax title margin of 22.7% versus pre-tax title margin of 20.3% and adjusted pre-tax title margin of 16.3% in the fourth quarter of 2019

Fourth quarter refinance orders opened increased 90% on a daily basis and refinance orders closed increased 86% on a daily basis versus the fourth quarter of 2019; purchase orders opened increased 14% on a daily basis and purchase orders closed increased 18% on a daily basis versus the fourth quarter of 2019

Total commercial revenue of $322 million, a 0.3% increase versus total commercial revenue in the fourth quarter of 2019, driven by a 1% increase in closed orders; fourth quarter total commercial orders opened increased 3% compared to the prior year

Overall fourth quarter average fee per file of $2,116, an 11% decrease versus the fourth...