Fidelity National Financial, Inc. (NYSE:FNF) Q2 2024 Earnings Conference Call August 6, 2024 11:00 AM ET

Company Participants

Lisa Foxworthy-Parker – Senior Vice President, Investor and External Relations
Mike Nolan – Chief Executive Officer
Tony Park – Chief Financial Officer
Chris Blunt – Chief Executive Officer-F&G
Wendy Young – Chief Financial Officer-F&G

Conference Call Participants

John Campbell – Stephens, Inc.
Mark Hughes – Truist Securities
Terry Ma – Barclays
Bose George – KBW
Mark DeVries – Deutsche Bank

Operator

Good morning, and welcome to FNF Second Quarter Earnings Call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be opened for questions with instructions to follow at that time.

I would now like to turn the call over to Lisa Foxworthy-Parker, SVP, Investor and External Relations. Please go ahead.

Lisa Foxworthy-Parker

Great. Thanks, operator, and welcome, everyone. Joining me today are Mike Nolan, Chief Executive Officer; and Tony Park, Chief Financial Officer. We look forward to addressing your questions following our prepared remarks. Chris Blunt, F&G's CEO; and Wendy Young, F&G's CFO, will join us for the Q&A portion of today's call.

Today's earnings call may include forward-looking statements and projections under the Private Securities Litigation Reform Act, which do not guarantee future events or performance. We do not undertake any duty to revise or update such statements to reflect new information, subsequent events or changes in strategy. Please refer to our most recent quarterly and annual reports and other SEC filings for details on important factors that could cause actual results to differ materially from those expressed or implied.

This morning's discussion also includes non-GAAP financial measures that we believe may be meaningful to investors. Non-GAAP measures have been reconciled to GAAP where required in accordance with SEC rules within our earnings materials available on our website at fnf.com. Today's call is being recorded and will be available at 3:00 p.m. Eastern Time today through webcast replay on our website and also telephone replay through August 13, 2024.

And now I'll turn the call over to our CEO, Mike Nolan.

Mike Nolan

Thank you, Lisa, and good morning. We are pleased to report a strong set of results for the second quarter. Our title business continues to perform very well in this low transactional environment as elevated mortgage rates and housing affordability continue to hamper U.S. home sales. We delivered adjusted pretax earnings in our Title segment of $324 million and achieved an industry-leading adjusted pretax title margin of 16.2% for the quarter as compared to 15.8% in the second quarter of 2023. This strong result reflects our disciplined operating strategy and our investments in innovative technologies and data.