Fidelity National (FNF) Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Fri, February 20, 2026 astatine 11:33 AM CST 26 min read

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Friday, Feb. 20, 2026 astatine 11 a.m. ET

• Chief Executive Officer — Mike Nolan

• Chief Financial Officer — Anthony Park

• Operator — [Operator's Name Not Disclosed]

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Mike Nolan: Thank you, Lisa, and bully morning. The 4th fourth results rounded retired an fantabulous twelvemonth for our Title and F&G concern some successful presumption of results and execution. Our Title concern delivered outstanding results successful the existent environment. We had adjusted pretax Title net of $401,000,000 successful the 4th fourth and $1,400,000,000 for the afloat year. This generated industry-leading adjusted pretax Title margins of 17.5% successful the 4th fourth and 15.9% for the afloat year. Our 4th fourth results bespeak beardown show crossed the concern highlighted by exceptional spot successful our nonstop commercialized business. Additionally, our disciplined disbursal absorption drove beardown incremental margins. Our achievements are a testament to our employees, the champion Title professionals successful the industry.

I would similar to widen a profound acknowledgment for each that they bash to consistently present industry-leading results, supply innovative solutions to our customers, and guarantee unafraid and businesslike existent property transactions.

Mike Nolan: We person transformed our concern done decades of pioneering exertion solutions and investments successful the business, driving efficiencies, and helping Fidelity National Financial, Inc. support a competitory edge. As a result, we person expanded our margins implicit the past 3 years and importantly outperformed anterior cyclical lows. 2025 was nary exception, and we are excited to further heighten our industry-leading exertion capabilities, which I volition talk to further successful a fewer minutes. Looking astatine our Title results much closely, connected the acquisition front, we are successfully navigating the debased transactional environment, with acquisition orders opened of 3,200 per time successful the 4th quarter, successful enactment with 2024 and reflecting mean seasonality.

For the period of January, our regular acquisition orders opened were up 1% versus the anterior twelvemonth and up 31% versus December. On the refinance front, volumes proceed to beryllium responsive arsenic 30-year owe rates decreased during the 4th quarter. This generated refinance orders opened of 1,700 per time successful the 4th quarter, up from 1,600 successful the sequential quarter. Our refinance orders opened per time were up 38% implicit 2024, up 75% for the period of January versus the anterior year, and up 28% for the period of January versus December.