Fidelity National reports Q1 adjusted EPS 76c, consensus 84c

Reports Q1 revenue $3.3B, consensus $2.67B. Mike Nolan, CEO, said, “While the residential housing market has remained under pressure due to higher interest rates and lack of supply, we continue to conservatively manage the business to the trend in open orders as we work to protect our profitability. This can be seen, once again, in our industry leading margins in the first quarter. Importantly, we are well positioned for the current environment as well as the longer term. While the timing of a potential rebound in the housing market is uncertain, we believe there is significant pent up demand given favorable demographics in the U.S. that will be unlocked once mortgage rates begin to moderate.”