Fidelity National delivers beat amid sluggish housing market

• Q4 adjusted core earnings of $144M or $0.50 per share vs. $81M and $0.34 one year ago. Q4 free cash flow of $139M vs. $47M.
• Title: Adjusted pretax earnings of $207M on revenue of $1.5B vs. $147M and $1.4B a year ago. Adjusted pretax title margin of 14.1% up 330 basis points. Open orders per day of 7,175 vs. 6,206. Average fee per file of $2,131 up 2%. Title claims paid of $78M down 22%.
• Black Knight: Adjusted EBITDA of $96M on revenue of $220M. Adjusted EBITDA margin of 43% up 70 basis points from Q3.
• Conference call tomorrow at 11 ET
• Previously: Fidelity National Financial beats by $0.03, misses on revenue (Feb. 18)
• FNF flat after hours