Operator

Good morning, and welcome to FNF’s First Quarter 2026 Earnings Call. [Operator Instructions] I would now like to turn the call over to Lisa Foxworthy-Parker, SVP, Investor and External Relations. Please go ahead.

Lisa Foxworthy-Parker
Senior Vice President of Investor & External Relations

Thanks, operator, and welcome, everyone. I’m joined today by Mike Nolan, CEO; and Tony Park, CFO. We look forward to addressing your questions following our prepared remarks. F&G’s management team, including Chris Blunt, CEO; and Conor Murphy, President and CFO, will also be available for Q&A.

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 measures, which management believes are relevant in assessing the financial performance of the business. Non-GAAP measures have been reconciled to GAAP where required and in accordance with SEC rules within our earnings materials available on the company’s investor website. Please note that today’s

The Trump administration’s efforts to curtail U.S. dependence on China are intensifying as artificial intelligence exposes vulnerabilities deep inside America’s military supply chain.

Exiger CEO Brandon Daniels joined FOX Business’ Maria Bartiromo on “Mornings with Maria” to discuss how artificial intelligence is being used to trace the origin of critical military components and identify weak points tied to Chinese-controlled materials and suppliers.

U.S. military weapon manufacturing at Scranton Army Ammunition Plant in Pennsylvania. (CHARLY TRIBALLEAU/AFP / Getty Images)

Daniels said China has spent years targeting key areas of industrial manufacturing through what he described as “economic warfare,” pointing to practices such as forced labor, tariff evasion and state subsidies that have hollowed out parts of America’s manufacturing base.

“There is a big, thick middle of manufacturing that China has targeted over the last 20 years,” Daniels said.

The conversation comes as the Trump administration is pushing to strengthen domestic production capacity tied to national security and defense systems. Daniels said the U.S. once had more than 360 manufacturers supporting areas such as iron castings, magnesium castings and forgings tied to defense production, but that number has dropped below 120 in the past decade.

WHITE HOUSE ACCUSES CHINA OF ‘INDUSTRIAL-SCALE’ AI TECHNOLOGY THEFT WEEKS AHEAD OF TRUMP-XI SUMMIT

“But there is a way out,” Daniels said. “Through autonomous workflows, through automation, through robotics, through artificial intelligence… we can return manufacturing to the United States.”

Supply chain concerns have intensified amid instability in the Middle East and threats to shipping through the Strait of Hormuz.

Secretary of Energy Christopher Wright joined Wednesday’s program to discuss ongoing tensions involving Iran and the importance of maintaining open shipping lanes.

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“The United States is going to have free flow of traffic through the Strait of Hormuz,” Wright said.

The discussion reflects a broader push across government and industry to reduce reliance on foreign-controlled materials tied to critical defense systems.

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Americans are officially ghosting overpriced metro areas in favor of the humble Springfield.

For the second month in a row, Springfield, Massachusetts, has been crowned the hottest housing market in America, but its Illinois namesake is stealing the spotlight with a staggering 26.6% annual price surge, recent Realtor.com data shows, bringing it to the No. 13 spot.

While major metros like Boston and Chicago become increasingly unaffordable, smaller cities with deep American roots, like the “Land of Lincoln” and the “Birthplace of Basketball,” are seeing a massive resurgence.

BOSTON’S AFFORDABILITY CRISIS DRIVES YOUNG WORKERS TO CONSIDER LEAVING

“The two cities represent distinct market narratives: One is a Boston-adjacent suburb benefiting from spillover demand and a well-documented affordability premium, while the other is a Midwestern market where accelerating price growth points to a sharp increase in buyer interest,” Realtor.com senior economic research analyst Hannah Jones told the outlet.

It’s a tale of two Springfield’s: the towns with the same names in Massachusetts and Illinois are some of America’s hottest housing markets. (Getty Images)

Situated 90 miles southwest of Boston, Massachusetts, Springfield took the top spot for offering a notable “discount” median listing price at $365,000 – while Boston has a median listing price at $832,500, about double the national average and the fifth-most expensive in the U.S.

Homes typically sell in just 23 days, and it’s best known as the hometown of author Dr. Seuss and where Dr. James Naismith invented basketball.

Turning to the Midwest, Illinois’ Springfield is slowly climbing its way up the “hottest market” ranks. Its 26.6% annual price gain currently makes it the most affordable entry point in the country.

Springfield, Illinois, hails a median listing price around $250,000, the lowest in the Top 20 rankings. Realtor.com pointed out that one 1,500-square-foot home saw 96 showings and 28 offers in just four days, selling for $60,000 over asking.

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It’s famous for being home to the Abraham Lincoln Presidential Library and the place where the late Lincoln practiced law for 25 years before making his way to the White House.

More broadly, the “hottest market” list is primarily dominated by Northeast cities as they took 16 of the top 20 spots. These historic hubs have become the front lines of a new housing gold rush as families prioritize their bottom lines over big-city zip codes.

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TUCSON, Ariz. — Three months after 84-year-old Nancy Guthrie vanished from her Catalina Foothills home in a suspected nighttime abduction, forensic experts are pointing to advanced DNA analysis and behavioral clues about a fame-seeking perpetrator as the most promising paths to resolution in one of the year’s most high-profile missing persons cases.

Guthrie, mother of NBC’s “Today” co-anchor Savannah Guthrie, was reported missing Feb. 1, 2026. Security footage captured a masked individual approaching her door around the time she disappeared. Blood evidence, a disabled Ring camera, propped-open doors and other signs convinced authorities she did not leave voluntarily. No ransom has been paid, and no suspect has been publicly named despite thousands of tips.

Forensic science professor April Stonehouse of Arizona State University told investigators and journalists in a recent NewsNation special that she believes DNA evidence — specifically a rootless hair sample recovered from the scene and sent to the FBI lab in Quantico — will ultimately crack the case. “I hope it is,” Stonehouse said when asked if the advanced testing could provide the breakthrough. Genetic genealogist CeCe Moore echoed that DNA could serve as the “Hail Mary,” though full analysis may take months.

The hair, along with potential DNA from gloves found nearby that matched those worn by the masked figure in doorbell video, has been prioritized for advanced forensic processing. Labs involved in major cases like the Gilgo Beach killings are reportedly assisting, raising hopes for a genetic genealogy match even without a traditional database hit.

Behavioral Profile Points to Fame-Seeking Suspect

Forensic psychologist Dr. Gary Brucato, who developed a “Gradients of Evil” scale, offered a chilling assessment of the perpetrator’s mindset. He suggested the suspect may have craved fame or attention, staging elements of the crime scene to mislead investigators. Brucato theorized Nancy Guthrie might have been killed elsewhere, with the home scene arranged as a cover, citing the blood on the doorstep and strategically opened back door as possible red herrings.

“The person who did this probably has some passing relationship, at least, with this victim,” Brucato said, noting the suspect’s apparent comfort level inside the home as seen on surveillance. He described the individual as potentially psychopathic and “too cool under pressure,” traits consistent with someone seeking notoriety through a high-profile crime tied to a celebrity family.

Other experts, including “Mindhunter” profiler Dr. Ann Burgess, have raised the possibility of retribution as a motive or that the kidnapper may no longer be alive, complicating recovery efforts. Former FBI profiler Mary Ellen O’Toole, now a forensics professor, analyzed the masked suspect’s demeanor in early video footage, highlighting behavioral red flags.

Investigation Tensions and Evidence Challenges

The case has exposed friction between local authorities and federal agencies. FBI Director Kash Patel publicly criticized the Pima County Sheriff’s Department for initially keeping the FBI out of the probe for several days, a claim Sheriff Chris Nanos has pushed back against. Despite the disputes, the investigation remains active with homicide detectives and federal support.

Key evidence includes a rootless hair sent for mitochondrial and possibly nuclear DNA testing, potential glove DNA, and multiple ransom-style notes received by media outlets — some claiming sightings in Mexico — that experts deem highly unusual. A $1 million family reward offered in late February remains unclaimed.

Savannah Guthrie has balanced public pleas for information with her return to the “Today” show in April. She has described the ordeal as unimaginable, wearing yellow — a color of hope — during appearances and emphasizing her family’s focus on bringing her mother home. The emotional toll surfaced again this week when she abruptly left a broadcast, though she returned the next day.

Why This Case Stands Out

Forensic criminologists note the abduction’s rarity for an elderly victim in a relatively secure neighborhood. The masked intruder’s boldness, apparent familiarity with the home, and lack of immediate financial demands differentiate it from typical stranger abductions or burglaries. Brucato suggested it could have begun as a burglary gone wrong before escalating.

Advanced forensic tools now in play include genetic genealogy, which has solved cold cases by building family trees from distant relatives’ DNA uploads to public databases. Stonehouse highlighted how modern techniques can extract usable profiles even from degraded samples like rootless hairs.

Community and National Attention

The disappearance has gripped the nation, with neighbors in the Tucson foothills expressing unease and continuing to display ribbons and signs of support. Door-to-door canvassing, expanded surveillance reviews and public appeals have generated tips, but concrete leads remain elusive as the case approaches 100 days.

Pima County officials renewed their plea for information this week, stressing the investigation continues “until Nancy is located or all leads exhausted.” Speculation about the suspect’s possible death or relocation adds urgency to forensic breakthroughs.

Experts caution that while DNA offers the strongest scientific hope, behavioral analysis and public vigilance remain crucial. The fame-craving theory aligns with cases where perpetrators insert themselves into investigations or seek media spotlight. Any arrest could hinge on matching digital footprints, vehicle sightings or witness recollections to the forensic profile.

Path Forward

As testing progresses, authorities balance optimism with realism. The involvement of elite labs and profilers underscores the case’s priority. Savannah Guthrie and her family continue advocating while preparing for any outcome after more than 90 days of agonizing uncertainty.

Forensic experts like Stonehouse and Brucato agree the combination of cutting-edge science and deep behavioral insight provides the best chance for justice. Whether through a DNA match that identifies a suspect with a fame motive or another overlooked clue, resolution may finally be within reach in a mystery that has captivated and heartbroken millions.

The coming weeks could prove decisive as lab results trickle in and the reward incentive lingers. For now, the focus remains on Nancy Guthrie — a mother, grandmother and beloved community member — and the unyielding hope for her safe return or answers that bring closure.