Reports Q4 revenue $2.55B, consensus $2.73B. CEO William Foley, II, commented, "While the steep rise in interest rates pressured our results through the fourth quarter, we continued to take decisive steps to position FNF for the eventual turn in the housing cycle…We also successfully listed F&G on the New York Stock Exchange on December 1st which we believe will unlock the growing value in the business as can be seen in F&G’s robust Q4 and record full year sales where they ended 2022 with nearly $44B in assets under management. F&G’s spread based income delivers a steady and growing source of earnings which is countercyclical to our Title business as F&G benefits from the rising rate environment. This provides a competitive advantage for our Company, and we remain committed to F&G’s long-term success. We also returned more than $1B to our shareholders in 2022 through our quarterly dividend and share repurchases. We ended the year with over $900M of liquidity on our balance sheet which provides ample flexibility to take advantage of further opportunities as they arise while also providing security in an uncertain economic environment."
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