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Investor releaseQuarter not tagged2026-05-12Cannae Holdings, Inc. Announces First Quarter 2026 Financial Results
Business Wire
Cannae Holdings, Inc. Announces First Quarter 2026 Financial Results
~ Quarterly results call scheduled for 5:00pm ET ~ LAS VEGAS, May 11, 2026--(BUSINESS WIRE)--Cannae Holdings, Inc. (NYSE: CNNE) ("Cannae" or the "Company") has released its first quarter 2026 financial results by posting them to its website. Please visit the Cannae website at www.cannaeholdings.com to view the first quarter 2026 financial results, which are included in its Letter to Shareholders. Conference Call As previously announced, Cannae will host a conference call, today, May 11, 2026 at 5:00pm (Eastern Time), to discuss its first quarter 2026 results. The conference call can be accessed by dialing 1-800-579-2543 (domestic) or 1-785-424-1789 (international) and asking for the Cannae Holdings First Quarter 2026 Earnings Call. The conference ID is CANNAE. A telephonic replay will be available at the conclusion of the call and can be accessed by dialing 1-844-512-2921, or for international callers 1-412-317-6671, and providing the access code 11161481. The telephonic replay will be available until 11:59 pm (Eastern Time) on May 25, 2026. Interested investors and other parties may also listen to a simultaneous webcast of the live call available on the Company’s website at www.cannaeholdings.com. The online replay will be available on the Company’s website immediately following the call. About Cannae Holdings, Inc. We primarily acquire interests in operating companies and are actively engaged in managing and operating a core group of those companies. We believe that our long-term ownership and active involvement in the management and operations of companies helps maximize the value of those businesses for our shareholders. We are a long-term owner that secures control and governance rights of other companies primarily to engage in their lines of business and we have no preset time constraints dictating when we sell or dispose of our businesses. View source version on businesswire.com: https://www.businesswire.com/news/home/20260511667188/en/ Contacts Jamie Lillis, Managing Director, Solebury Strategic Communications, 203-428-3223, [email protected]
Investor releaseQuarter not tagged2026-05-12Cannae Q1 Earnings Call Highlights
MarketBeat
Cannae Q1 Earnings Call Highlights
Interested in Cannae Holdings, Inc.? Here are five stocks we like better. Cannae prioritized shareholder returns in Q1, returning about $51 million year-to-date through buybacks and its regular dividend. The company repurchased 3.4 million shares, or about 7.3% of shares outstanding, and expanded its repurchase authorization to 14.9 million shares. Black Knight Football was highlighted as the top growth asset, with AFC Bournemouth sitting in sixth place in the Premier League at the time of the call and potentially heading for its first-ever European competition berth. Management said the multi-club sports platform is generating meaningful player-trading profits and improved EBITDA. Cannae continues to work on monetizing non-core restaurant assets while reducing holding company costs. The company said restaurant operations remain under strategic review, operating revenue fell due to closures and weaker traffic, and corporate holding costs were down roughly 45% year over year. Cannae (NYSE:CNNE) said it returned the bulk of its first-quarter capital allocation to shareholders while continuing to evaluate sales of non-core holdings and emphasizing growth in its sports-related investments. On the company’s first-quarter 2026 earnings call, Chief Executive Officer Ryan Caswell said Cannae returned approximately $51 million to shareholders year-to-date through buybacks and its regular dividend, which he said currently provides a 4.2% yield. That represented about 86% of capital allocated during the period, compared with roughly 70% a year earlier. → Beyond NVIDIA: Picks-and-Shovels AI Plays with Strong Momentum “The shift toward buybacks was deliberate in the quarter as we viewed the highest return investment available to us was our own equity,” Caswell said. Caswell said Cannae repurchased 3.4 million shares year-to-date, representing about 7.3% of shares outstanding, for $43 million. The board expanded the company’s repurchase authorization to 14.9 million shares during the quarter, giving Cannae room to continue opportunistic repurchases. → MercadoLibre Boldly Invests in Growth: Discount Deepens Asked by Kenneth Lee of RBC Capital Markets about capital returns, Caswell said Cannae remains committed to buybacks and has not evaluated special dividends. He said the company continues to assess capital allocation based on what it believes will maximize shareholder v...
Investor releaseQuarter not tagged2026-05-12Cannae Holdings Inc (CNNE) Q1 2026 Earnings Call Highlights: Strategic Shifts and Shareholder ...
GuruFocus.com
Cannae Holdings Inc (CNNE) Q1 2026 Earnings Call Highlights: Strategic Shifts and Shareholder ...
This article first appeared on GuruFocus. Release Date: May 11, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Cannae Holdings Inc (NYSE:CNNE) returned approximately $51 million to shareholders through buybacks and dividends, representing 86% of their capital allocation. The company repurchased 3.4 million shares, about 7.3% of shares outstanding, indicating a strong commitment to share buybacks. AFC Bournemouth, a major asset, is performing well, potentially qualifying for European competition, which could enhance its commercial and economic prospects. Corporate holding company costs were reduced by approximately 45% year-over-year, reflecting effective cost management. Black Knight Football reported significant financial growth, with revenue increasing by 19% and EBITDA reaching $136 million. Total operating revenues for the first quarter were down 7% year-over-year, primarily due to the restaurant group's performance. The restaurant group faced challenges with the closure of eight O'Charley's locations and lower traffic, impacting revenues. There were approximately $8 million in non-cash impairments on restaurant assets, affecting financial results. The company is still in the process of monetizing non-core assets like the restaurant group, indicating ongoing strategic challenges. Cannae Holdings Inc (NYSE:CNNE) experienced a decline in cash reserves from $123 million to approximately $90 million due to continued buybacks. Warning! GuruFocus has detected 7 Warning Signs with CNNE. Is CNNE fairly valued? Test your thesis with our free DCF calculator. Q: Given the longer-term shift towards sports and media investments, how should we think about some of the past investments like Janet Partners and Watkins? Is the plan to eventually monetize them? A: We are focusing on sports and entertainment-related assets but still value our existing investments. We review our portfolio quarterly with the Board to decide on potential divestitures, similar to our approach with the restaurant group. - Ryan Castle, CEO Q: Regarding capital returns, has there been any updated evaluation on returning capital through buybacks or dividends? A: We remain committed to share buybacks, as evidenced by our purchases this year. We haven't considered special dividends but continuously evaluate capital allocation to maximize shar...
TranscriptFY2026 Q12026-05-11FY2026 Q1 earnings call transcript
Earnings source - 44 paragraphs
FY2026 Q1 earnings call transcript
Good afternoon, ladies and gentlemen, and welcome to the Cannae Holdings, Inc. First Quarter 2026 Financial Results Conference Call. During today's presentation, all parties will be in a listen-only mode. Following the company's prepared remarks, the conference will be open for questions with instructions to follow at that time. As a reminder, this conference call is being recorded, and a replay is available through 11:59 P.M. Eastern Time on May 25, 2026. With that, I would now like to turn the call over to Mr. Jamie Lillis of Solebury Strategic Communications. Please go ahead, sir.
Thank you, operator, and good afternoon. Thank you for joining Cannae Holdings, Inc. First Quarter 2026 earnings call. On today's call are Ryan Caswell, Chief Executive Officer, and Bryan Coy, Chief Financial Officer. Before we begin, I'd like to remind listeners that this call may contain forward-looking statements and references to non-GAAP financial measures. Statements that are not historical facts, including statements about Cannae's expectations, hopes, intentions, or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs as well as assumptions made by and information currently available to management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, the risks and other factors detailed in our quarterly shareholder letter, which was released this afternoon, and in our other filings with the SEC. Today's remarks will also include references to non-GAAP financial measures. Additional information, including a reconciliation between the non-GAAP financial information to the GAAP financial information, is provided in our shareholder letter. These statements are subject to risks and uncertainties described in our shareholder letter and SEC filings, and we undertake no obligation to update forward-looking statements. With that, I'll turn the call over to Ryan.
Thank you, Jamie. Good afternoon. On the call today, I want to cover four key topics: how we allocated our capital in the quarter, what is happening at our largest sports asset, Black Knight Football, where we stand on the restaurant business and exiting additional non-core assets, and how we are managing the holding company. Starting with capital allocation. In the first quarter, we returned approximately $51 million to shareholders through a combination of buybacks and our regular dividend, which currently provides a 4.2% dividend yield. Year-to-date, this $51 million represents about 86% of all the capital we have allocated. The remaining 14% of our capital went to existing investments. A year ago, the comparable shareholder figure return was about 70% to shareholders.
The shift toward buybacks was deliberate in the quarter as we viewed the highest return investment available to us was our own equity. We will analyze our capital allocation on an ongoing basis to determine what maximizes shareholder value between capital returns and new investments. On the buyback specifically, year-to-date, we have repurchased 3.4 million shares, representing about 7.3% of our shares outstanding for $43 million. Our board expanded the repurchase authorization to 14.9 million shares during the quarter so we can continue opportunistic buybacks. Now to Black Knight Football, which is the largest single position in our portfolio and in my view, the asset with the greatest upside. AFC Bournemouth currently sits in sixth place in the Premier League.
If the club holds that position, it will be the highest finish in the club's 127 year history, and it would qualify the club for European competition for the first time. European qualification is not just a sporting milestone. It materially changes the commercial, branding, and economics of the club. The sporting results are even more notable because over the last 18 months, we have sold top players to Manchester City, Real Madrid, Paris Saint-Germain, and Liverpool, totaling roughly $360 million in transfer fees. We have done this and gotten better results, not worse. That is the platform in our investment and operating strategy working. Let me give you one specific example because I think it captures the entire investment thesis of the multi-club.
A player named Eli Junior Kroupi, who is 19 years old and came up through the academy at FC Lorient, which is a club we own. In January of last year, AFC Bournemouth, another club we own, acquired him from Lorient and let him remain at the club for the remainder of the season to develop and help with their requalification to Ligue 1. This season, he moved to Bournemouth. He is the leading scorer for Bournemouth, and he has scored more goals in a single Premier League season than any teenager in the history of the Premier League. That is the multi-club platform in one transaction.
We developed an asset at a club and moved that asset onto another club at the appropriate time for the team and the player. In the end, both clubs benefit from an economic and a sporting perspective, and the player benefits and improves his career trajectory. This represents the value of the multi-club platform and will drive returns for our investment at Black Knight Football. The financial picture is consistent with the sporting one, with double-digit increases in revenue and EBITDA hitting $136 million, given significant player sales and improved revenues referenced above. Bryan will go into these numbers in more detail in his remarks. We posted a detailed overview of Black Knight Football on Cannae's website during last quarter. I would encourage everyone on the call to spend some time with it as it captures our work. Now to the restaurants.
The strategic process around the restaurant group that we announced previously is ongoing. What I can update you on today is that the board's position is unchanged. This is a non-core asset, and our focus is to monetize the asset, maximize proceeds, and redeploy that capital into either higher returning investments, which will grow our NAV or into our own stock. We are working hard to achieve this outcome and expect to be able to give you a more substantive update on the next call. More broadly, the board continues to review our entire portfolio every quarter for the optimal time to sell non-core assets. Restaurants are not the only one we are evaluating. You should expect continued movement in our portfolio, which I will detail at the appropriate time. The last topic from me is the holding company itself.
We continue to focus on reducing our corporate holding company costs. I will let Bryan expand upon it in his comments, but for the first quarter, our corporate holding company costs are down approximately 45% from last year, which reflects the discipline of the board and the management have applied to reducing corporate holding company costs. On governance, the board continues to evaluate further governance enhancements. In the first quarter, we refreshed our committee composition to include the four new directors elected last year, which brings new perspective into committee deliberations. In summary, we are executing our plan. We are looking for ways to concentrate the portfolio further into sports and entertainment-related assets while monetizing our non-core assets. We are opportunistically returning meaningful capital to our shareholders at prices we believe are well below intrinsic value.
We are improving our portfolio companies and providing more transparency into each of them. We are reducing holding company costs. We will keep doing these things until the discount closes and NAV increases. With that, I will turn the call over to Bryan.
Thanks, Ryan. Good afternoon. I'll walk through the first quarter results and then close with a brief note on the balance sheet and liquidity. Total operating revenues for the first quarter were $96 million, down 7% year-over-year. The entirety of that decline came from the restaurant group, which reflects the closure of eight O'Charley's locations since March of last year and lower traffic at both brands. At Ninety Nine, higher average guest checks nearly offset the traffic decline. At O'Charley's, pricing recovered roughly half of the traffic drop. Revenue at Brasada Ranch was approximately flat quarter-over-quarter. Total operating expenses were $118 million in the first quarter of 2026, compared with $125 million in the prior year first quarter. This reflects flat operating expenses for the restaurant group and decreased holding company expenses.
The cost of restaurant revenues decreased by just over $7 million on the lower top-line volume I discussed a moment ago. That decrease was offset by an approximately $8 million of non-cash impairments on the restaurant right of use and assets and fixed assets. Continuing our efforts to further transparency, we added more disclosure on corporate holding company expenses within the MD&A section of our 10-Q that is filed today. In the meantime, I'll note that the holding company expenses were $8.9 million in the first quarter of 2026, compared against $16.1 million in the same quarter last year, a $7.2 million or 45% reduction year-over-year.
That reflects a $3.6 million decrease in corporate personnel costs on lower bonus and stock compensation after the management transition and no management or termination fees, compared to $3.6 million in the first quarter of last year. We expect this run rate to continue throughout the remainder of the year. Looking at our equity method investments, which include Black Knight Football. Earlier, Ryan noted that total revenue at Black Knight Football increased 19% to $274 million for the 12 months ended December 31, 2025. That revenue growth came from on-field performance from higher commercial revenue at Bournemouth and from the inclusion of Mauriense for the half year.
EBITDA grew from $12 million in calendar year 2024 to $136 million in 2025, driven by a nearly four-fold increase in player trading profits from $30 million in 2024 to $113 million in 2025. Adjusted EBITDA, which excludes player trading profits, improved from negative $5 million in 2024 to positive $21 million in 2025 on improved operating leverage net of higher player wages. On the remaining EMIs, a large driver of the year-over-year variance is a valuation gain on our CSI holding that benefited the prior year period.
Turning to the balance sheet. At the corporate level, Cannae had $123 million of cash at quarter end. After continuing buyback since the quarter close, we have approximately $90 million today. We filed our corporate tax return and refund claim in March. We expect to receive about $45 million cash refund and approximately $10 million of additional tax assets later this year, after a portion of the refund was recharacterized as carryforwards. During the first quarter, we terminated Cannae's margin loan, which reduces commitment and custody fees by approximately $350,000 annually. After that termination, the only corporate level debt outstanding is $48 million of 5% fixed rate interest-only term debt that doesn't mature for over 4 years. With that, operator, please open the line for questions.
Certainly. Thank you, sir. Ladies and gentlemen, at this time, if you do have any questions, please press star 1, and if you find your question has been addressed, you may remove yourself from the queue by pressing star 2. Once again, star 1 for questions. We'll go first this afternoon to Kenneth Lee of RBC Capital Markets.
Hey, good afternoon, thanks for taking my question. Just one on the portfolio allocation. Just given the longer term shift towards sports and media investments, how should we think about some of the investments that were done in the past, for example, Jana Partners, Walk-Ins, I guess most of the other investments, except for outside of BKFC, is the plan to eventually monetize pretty much all of them? Thanks.
Yes. Thanks, Ken. We are pushing to sports and entertainment-related assets, but with that being said, we like all of the investments that we have, and we think there's attractive attributes. What I do on a quarterly basis is I review our entire portfolio with the board, and we determine whether it makes sense to divest any of the assets. When appropriate, we will obviously disclose any of the conclusions that the board comes to, similar to what we did with the restaurant group.
Gotcha. In terms of capital returns, has there been any updated evaluation, and I know that you've done some evaluation in the past in terms of returning capital either through buybacks or continue to return it through buybacks, or have you given dividends or special dividends a thought as well? Thanks.
Yeah. Currently, in terms of buybacks, we remain committed to share buybacks and as evidence from purchases thus far this year. We have not looked at special dividends or things like that. We obviously have the ongoing dividend. I think more broadly, we look at capital allocation and liquidity on an ongoing basis and look to what will maximize shareholder value between capital returns and new investments, and that's a framework that we will continue going forward.
Gotcha. One more for me. Just once again, looking across the portfolio, are you also maintaining active dialogue or having a pipeline of potential opportunities or new investments? Maybe just want to get a little bit more color around that. Thanks.
We are. I think we are leveraging our the network that we have, given the success that we've had in some of our sports assets, and we try to disclose a bit more around this in our in or we will disclose in an updated investor deck that will be out later today. We are looking at different deals. Each new investment that we look at, we are trying to determine whether it makes it is higher value for our shareholders to invest in a new business or to continue the share buyback. Last quarter, we spent the money on share buyback, but we are seeing a lot of deals and we'll do that analysis going forward.
Great. Very helpful. That's all I had.
Thanks again.
Thank you. We'll go next now to Ian Zaffino at Oppenheimer.
Hi, Grant. Thank you very much. Just kind of a follow-up on the buyback question is, how do you think about sizing buybacks, you know, stock's very, very cheap here. How are you thinking about just really kind of pulling the trigger on incremental buybacks? When you think about your alternative use of cash and investing, how high is the bar for new investments? You know, is there like a very kind of minimal chance you're gonna be doing incremental investments, or is there still a very high chance you're doing incremental investments? If so, you know, maybe give us an example of what you look for, maybe what area of kinda your verticals you're in. Thanks.
Thanks. Let me try and take those 1 at a time. First, in terms of buybacks, and trying to size the buyback, we think about liquidity, and liquidity over the next, you know, 6 to 12 months in terms of how we think about the buybacks, and that liquidity analysis also includes the timing of some of these other non-core asset sales. I don't wanna provide a specific size framework. You obviously can look back with what we did in the 1st quarter and historically. For each buyback and each, we are looking at liquidity and the capital allocation framework that I mentioned before. In terms of new investments, management and the board are focused on trying to maximize shareholder value through the growth of NAV over time.
We have talked about how we're transitioning the portfolio to sports and entertainment assets. In order to do that, we do need to make new investments. We're being thoughtful and mindful around those in terms of, again, thinking about size and liquidity, and valuation and future performance. We believe that transitioning the portfolio to the sports-related assets will create the most shareholder value over time.
Okay, thanks. Just a follow-up. Where are we as far as the strategic alternatives for the restaurants? You talked a lot about their performance, where are we as far as the strategic alternatives? Thanks.
As I mentioned, in my prepared remarks, the strategic alternatives, the process is ongoing. We are looking to maximize the value and the proceeds from each asset. We think that by the next quarter, we'll have a more fulsome update. The board's firm view is these are non-core assets, and we are working to monetize them.
All right, thank you.
Thank you.
Thank you. Just a quick reminder, ladies and gentlemen, star one, please, for questions today. We go next now to Oscar Nieves at Stephens.
Hello, good afternoon. My first one is on the buyback. Back in 2024, Cannae bought a sizable chunk of shares outstanding through a tender offer. My question is, given how many shares are still available under the current buyback program and potentially the proceeds from the restaurant business, would the company consider the possibility of executing a structured process like that in 2024?
Yes. Thanks, Oscar. Right now we're focused on open market buybacks. We did do a tender before, so it is something that we could consider if we couldn't get the volume or the pricing that we wanted. We bought the shares at a premium and the stock traded down. In the short term, we are most focused on open market purchases as the form of buybacks.
That's helpful. My next one is, what can you tell us about Alight and the current thinking on that investment?
We are optimistic about Alight and the new, the new CEO. I would turn you to his more detailed remarks in terms of the performance of the business. We've been a holder of the business for a while and are supportive of him and the business. As I said earlier, is we will, we will review quarterly each of our investments with our board to make a determination on what's the appropriate timing.
Okay. My last one is, on the $55 million tax refund, or I guess $45 million you mentioned earlier, how are you thinking about allocating that capital between buybacks and potential incremental investments in some of the core assets? Also, what will ultimately drive that decision?
We will look at allocating that capital similar to how we look at allocating any liquidity that we have on our balance sheet, which is what we determine to be the most attractive use of capital at that time for our shareholders. In this last quarter, we allocated about 86% of our excess capital or of our capital to buybacks and dividends. It'll be a case-by-case basis when the timing comes in and where we are in terms of investments or where our stock price is trading.
Very helpful. Thank you.
Thank you. Gentlemen, it appears we have no further questions this afternoon. Mr. Caswell, I'll turn things back to you, sir, for any closing comments.
I wanna thank you all for the support as we continue to execute our strategic priorities. We look forward to update you on our progress next quarter. Thank you very much.
Thank you, gentlemen. Again, ladies and gentlemen, this will conclude the Cannae Holdings, Inc. First Quarter 2026 earnings conference call. Thank you all so much for joining us today. We wish you all a great afternoon. Goodbye.
Investor releaseQuarter not tagged2026-05-08Barings BDC (BBDC) Q1 Earnings Meet Estimates
Zacks
Barings BDC (BBDC) Q1 Earnings Meet Estimates
Barings BDC (BBDC) came out with quarterly earnings of $0.25 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this business development company would post earnings of $0.26 per share when it actually produced earnings of $0.27, delivering a surprise of +3.85%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Barings BDC, which belongs to the Zacks Financial - SBIC & Commercial Industry industry, posted revenues of $60.57 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 2.85%. This compares to year-ago revenues of $64.44 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Barings BDC shares have added about 0.2% since the beginning of the year versus the S&P 500's gain of 7.6%. While Barings BDC has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Barings BDC was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see h...
Investor releaseQuarter not tagged2026-05-08Cannae Holdings, Inc. Announces Quarterly Cash Dividend of $0.15
Business Wire
Cannae Holdings, Inc. Announces Quarterly Cash Dividend of $0.15
LAS VEGAS, May 07, 2026--(BUSINESS WIRE)--Cannae Holdings, Inc. (NYSE: CNNE) ("Cannae" or the "Company") today announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share. The dividend will be payable June 30, 2026, to shareholders of record as of June 16, 2026. About Cannae Holdings, Inc. We primarily acquire interests in operating companies and are actively engaged in managing and operating a core group of those companies. We believe that our long-term ownership and active involvement in the management and operations of companies helps maximize the value of those businesses for our shareholders. We are a long-term owner that secures control and governance rights of other companies primarily to engage in their lines of business, and we have no preset time constraints dictating when we sell or dispose of our businesses. View source version on businesswire.com: https://www.businesswire.com/news/home/20260507989096/en/ Contacts Jamie Lillis, Managing Director, Solebury Strategic Communications, 203-428-3223, [email protected]
Investor releaseQuarter not tagged2026-04-28Cannae Holdings, Inc. Announces First Quarter 2026 Earnings Release Date and Conference Call
Business Wire
Cannae Holdings, Inc. Announces First Quarter 2026 Earnings Release Date and Conference Call
LAS VEGAS, April 27, 2026--(BUSINESS WIRE)--Cannae Holdings, Inc. (NYSE: CNNE) ("Cannae" or the "Company") today announced that the Company will release its First Quarter 2026 financial results after the market close on Monday, May 11, 2026. The Company will also hold a conference call to discuss its financial results at 5:00 pm (Eastern Time) on the same day. The conference call can be accessed by dialing 1-800-579-2543 (domestic) or 1-785-424-1789 (international) and asking for the Cannae Holdings First Quarter 2026 Earnings Call. The conference ID is CANNAE. A telephonic replay will be available at the conclusion of the call and can be accessed by dialing 1-844-512-2921, or for international callers 1-412-317-6671 and providing the access code 11161481. The telephonic replay will be available until 11:59 pm (Eastern Time) on May 25, 2026. Interested investors and other parties may also listen to a simultaneous webcast of the live call available on the Company’s website at www.cannaeholdings.com. The online replay will be available on the Company’s website immediately following the call. About Cannae Holdings, Inc. We primarily acquire interests in operating companies and are actively engaged in managing and operating a core group of those companies. We believe that our long-term ownership and active involvement in the management and operations of companies helps maximize the value of those businesses for our shareholders. We are a long-term owner that secures control and governance rights of other companies primarily to engage in their lines of business and we have no preset time constraints dictating when we sell or dispose of our businesses. View source version on businesswire.com: https://www.businesswire.com/news/home/20260427659886/en/ Contacts Jamie Lillis, Managing Director, Solebury Strategic Communications, 203-428-3223, [email protected]
Investor releaseQuarter not tagged2026-04-28Invesco (IVZ) Lags Q1 Earnings and Revenue Estimates
Zacks
Invesco (IVZ) Lags Q1 Earnings and Revenue Estimates
Invesco (IVZ) came out with quarterly earnings of $0.57 per share, missing the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -2.36%. A quarter ago, it was expected that this investment management company would post earnings of $0.58 per share when it actually produced earnings of $0.62, delivering a surprise of +6.9%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Invesco, which belongs to the Zacks Financial - Investment Management industry, posted revenues of $1.26 billion for the quarter ended March 2026, missing the Zacks Consensus Estimate by 0.38%. This compares to year-ago revenues of $1.11 billion. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Invesco shares have lost about 3% since the beginning of the year versus the S&P 500's gain of 4.8%. While Invesco has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Invesco was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy)...
Investor releaseQuarter not tagged2026-02-24Cannae Holdings, Inc. Q4 2025 Earnings Call Summary
Moby
Cannae Holdings, Inc. Q4 2025 Earnings Call Summary
Management is accelerating a shift toward sports and entertainment assets where the company maintains a proprietary competitive advantage and can actively drive value. The sale of Dun & Bradstreet for $630 million and exits from Paysafe, System1, and Sightline represent a deliberate move away from non-strategic public securities. Black Knight Football Club (BKFC) is now the primary value driver, with AFC Bournemouth achieving significant transfer profits while maintaining Premier League performance. The acquisition of the remaining 60% of FC Lorient consolidates BKFC's multi-club model to capture operational synergies across European football leagues. Management expressed dissatisfaction with the current stock price, stating it does not reflect the intrinsic value of the platform's private, proprietary assets. Operational improvements at portfolio companies are being paired with increased disclosure to provide shareholders better visibility into asset-level results. The company is exploring strategic alternatives for its Restaurant Group as part of a disciplined effort to redeploy capital into higher-returning opportunities. Phase 1 of the stadium renovation for AFC Bournemouth is expected to be completed by the 2026/2027 season, doubling hospitality capacity. Phase 2 of the stadium expansion is targeted for the 2027/2028 season, aiming for an 80% increase in total capacity to over 20,000 seats. A $55 million tax refund is expected in the summer of 2026, providing a near-term liquidity injection from realized losses on public security exits. The Board is prioritizing capital flexibility in the short term, which may lead to more selective and opportunistic share repurchases compared to previous levels. Future investments through the JANA Partners relationship will be constrained to a 'smaller box' focused specifically on sports and entertainment opportunities. Operating expenses for 2025 were impacted by $24 million in nonrecurring management charges, $14 million in noncash impairment charges at the Restaurant Group, and $5 million of increased professional fees associated with a recent proxy contest. In the fourth quarter of 2025, a $69 million loss from unconsolidated holdings was primarily driven by a large goodwill write-off at Alight. The Board was refreshed with four new independent directors in 2025 to improve governance and shareholder alignment follo...
Investor releaseQuarter not tagged2026-02-24Cannae Holdings Inc (CNNE) Q4 2025 Earnings Call Highlights: Strategic Shifts Amid Revenue Decline
GuruFocus.com
Cannae Holdings Inc (CNNE) Q4 2025 Earnings Call Highlights: Strategic Shifts Amid Revenue Decline
This article first appeared on GuruFocus. Total Operating Revenue (Q4 2025): $103 million, a 6% decrease from $110 million in Q4 2024. Total Operating Expenses (Q4 2025): $127 million, down from $132 million in Q4 2024. Non-Cash Impairment Charges (Q4 2025): $12 million, mainly associated with right-of-use assets at certain OCharleys locations. Net Recognized Losses (Q4 2025): $8 million, largely comprising mark-to-market losses on exit from Paysafe. Equity and Losses of Unconsolidated Holdings (Q4 2025): $69 million, primarily from Alights results. Total Operating Revenue (Full Year 2025): $424 million, compared to $453 million in 2024. Operating Loss (Full Year 2025): $119 million, compared to $104 million in 2024. Non-Recurring Management Charges (Full Year 2025): $24 million. Non-Cash Impairment Charges (Full Year 2025): $14 million at the restaurant group. Professional Fees (Full Year 2025): $5 million increase associated with proxy contest. Total Assets (Year-End 2025): Over $1.3 billion. Total Liabilities (Year-End 2025): $330 million. Cash (Corporate Level): Over $147 million. Corporate Debt: $48 million of fixed rate, interest-only term debt. Expected Tax Refund: $55 million in summer 2026. Warning! GuruFocus has detected 7 Warning Signs with CNNE. Is CNNE fairly valued? Test your thesis with our free DCF calculator. Release Date: February 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Cannae Holdings Inc (NYSE:CNNE) successfully sold Dun & Bradstreet to Clearlake Capital, generating $630 million in proceeds. The company repurchased $323 million of stock, representing 28% of its shares outstanding, and increased its dividend by 25%. Cannae Holdings Inc (NYSE:CNNE) made strategic investments in Black Knight Football Club and JANA Partners, increasing its ownership in JANA from 20% to 50%. The company is focusing on proprietary private investment opportunities, providing investors access to unique assets. Black Knight Football Club, a major investment, is performing well, with AFC Bournemouth achieving significant success in the Premier League. Total operating revenues decreased by 6% in the fourth quarter of 2025 compared to the previous year, primarily due to lower restaurant revenue. Cannae Holdings Inc (NYSE:CNNE) reported an operating loss of $119 million for the full year 2025, up fr...
Investor releaseQuarter not tagged2026-02-24Cannae Q4 Earnings Call Highlights
MarketBeat
Cannae Q4 Earnings Call Highlights
Dun & Bradstreet sale and capital returns: Cannae sold Dun & Bradstreet for $630 million, repurchased $323 million of stock (about 28% of shares outstanding), raised its quarterly dividend 25% to $0.15, and expects a $55 million tax refund in summer 2026. Strategic shift to private sports/entertainment investments: management is pivoting the portfolio toward proprietary private opportunities where it can actively drive value, deploying another $50 million into Black Knight Football and $67.5 million to increase JANA Partners ownership to 50%, while monetizing non‑strategic assets. Black Knight Football updates: BKFC is highlighted as the largest investment—AFC Bournemouth is performing well and clubs have generated >$400 million in transfer proceeds; BKFC acquired the remaining 60% of FC Lorient for ~€60 million and has planning approval for phased stadium expansions that materially increase capacity by 2027–28. Interested in Cannae Holdings, Inc.? Here are five stocks we like better. Cannae (NYSE:CNNE) used its fourth-quarter and full-year 2025 earnings call to highlight portfolio changes, capital returns, and a newly articulated strategy aimed at improving transparency and narrowing the company’s investment focus. Management also reviewed 2025 operating results, liquidity, and several portfolio developments, including activity at its largest investment, Black Knight Football Club. CEO Ryan Caswell said the company made “substantial progress” in 2025 executing strategic initiatives first outlined in 2024. A key development was the sale of Dun & Bradstreet to Clearlake Capital, which generated total proceeds of $630 million to Cannae. → Gold and Silver Pulled Back—Here’s Why the Bull Case Is Intact Cannae also sold shares of Paysafe, System One, and Sightline in the fourth quarter to realize losses. Caswell said those transactions created a $55 million tax refund expected to be paid in the summer of 2026. On capital returns, Caswell said Cannae repurchased $323 million of stock in 2025, representing 17.4 million shares, or 28% of shares outstanding. The company also increased its dividend by 25% to $0.15 per quarter and paid $30 million in total dividends during the year. → Hinge Health’s AI Moat Might Be Its Patient Movement Data Caswell said Cannae made new investments where it believes it can “help drive value.” In 2025, the company invested an additional...
Investor releaseQuarter not tagged2026-02-24Cannae Holdings, Inc. Announces Fourth Quarter and Full Year 2025 Financial Results
Business Wire
Cannae Holdings, Inc. Announces Fourth Quarter and Full Year 2025 Financial Results
~ Quarterly and Full Year Results Call Scheduled for 5:00pm ET ~ LAS VEGAS, February 23, 2026--(BUSINESS WIRE)--Cannae Holdings, Inc. (NYSE: CNNE) ("Cannae" or the "Company") has released its fourth quarter and full year 2025 financial results by posting them to its website. Please visit the Cannae website at www.cannaeholdings.com to view the fourth quarter and full year 2025 financial results, which are included in its Letter to Shareholders. Conference Call As previously announced, Cannae will host a conference call, today, February 23, 2026 at 5:00pm (Eastern Time), to discuss its fourth quarter and full year 2025 results. The conference call can be accessed by dialing 1-844-826-3035 (domestic) or 1-412-317-5195 (international) and asking for the Cannae Holdings Fourth Quarter and Full Year 2025 Earnings Call. A telephonic replay will be available at the conclusion of the call and can be accessed by dialing 1-844-512-2921, or for international callers 1-412-317-6671, and providing the access code 10206213. The telephonic replay will be available until 11:59 pm (Eastern Time) on March 9, 2026. Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Company’s website at www.cannaeholdings.com. The online replay will remain available for a limited time beginning immediately following the call. About Cannae Holdings, Inc. We primarily acquire interests in operating companies and are actively engaged in managing and operating a core group of those companies. We believe that our long-term ownership and active involvement in the management and operations of companies helps maximize the value of those businesses for our shareholders. We are a long-term owner that secures control and governance rights of other companies primarily to engage in their lines of business and we have no preset time constraints dictating when we sell or dispose of our businesses. Source: Cannae Holdings, Inc. View source version on businesswire.com: https://www.businesswire.com/news/home/20260223904412/en/ Contacts Jamie Lillis, Managing Director, Solebury Strategic Communications, 203-428-3223, [email protected]