$FNF · Fidelity National Financial, Inc.
Fidelity National Financial filed its Q3 FY2026 10-Q. Net income attributable to common shareholders was $633M ($2.37 diluted EPS), up from $358M ($1.33) a year earlier, while total revenue declined 11.2% to $3.578B. The profit jump was driven by a swing in market-risk-benefit gains and lower benefits/policy-reserve charges, offsetting a $452M revenue decline. Nine-month net income rose to $1.164B from $719M.
- Q3 net income $633M vs $358M prior year; diluted EPS $2.37 vs $1.33.
- Total revenue fell 11.2% YoY to $3.578B from $4.030B.
- Market risk benefit swung to a $167M gain from a $43M loss a year ago.
- Benefits and policy-reserve charges dropped to $26M from $1.181B.
- Nine-month unrealized investment losses totaled $2.0B, deepening AOCL to $2.398B.
Markets closed — no regular-session reaction yet; extended-hours move not captured here.
Earnings more than doubled despite an 11% revenue decline, but a $2.0B unrealized investment loss signals balance-sheet pressure from higher rates.
Title insurance revenue held up (direct premiums +11.4% YoY) even as escrow/title-related fees fell sharply, reflecting a cooling mortgage market.
Rising interest rates drove a $2.0B nine-month unrealized loss on investments, pushing accumulated other comprehensive loss to $2.398B and pressuring book value.