Cannae Holdings Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw $51M returned to shareholders, a 45% drop in holding company costs, and a strategic pivot toward sports and entertainment assets. Black Knight Football delivered record revenue and EBITDA, while restaurant group revenues declined.
Fiscal Year 2025
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2025 saw major portfolio transformation, highlighted by the $630M D&B sale, increased focus on sports and entertainment assets, and $323M in share repurchases. Operating revenue and profit declined year-over-year, but capital returns and governance enhancements were prioritized.
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Q3 2025 saw continued portfolio rebalancing, with $1.1B in public securities sold and over $500M returned to shareholders. Operating revenue declined year-over-year, but cost reductions and strong capital returns supported value creation.
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Progress on strategic plan includes major public asset sales, capital returns, and new investments. DNB sale to bring $630M in proceeds, with $300M for buybacks and $141M for debt repayment. BKFC and restaurant segments show mixed results, while Alight faces revenue headwinds but improved EBITDA.
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Q1 2025 revenue declined 7% year-over-year, but cost reductions and gains from asset sales supported results. Major portfolio rebalancing included the D&B sale, with proceeds earmarked for share repurchases, dividends, and debt repayment.
Fiscal Year 2024
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Q4 2024 revenue declined 8% year-over-year, mainly due to restaurant headwinds, while portfolio companies like AFC Bournemouth and Watkins showed strong growth. Capital returned to shareholders via buybacks and dividends, with a focus on further buybacks and debt reduction in 2025.
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Q3 2024 saw lower revenues due to fewer restaurant locations, but cost reductions and portfolio rebalancing, including the Watkins acquisition and Dayforce exit, improved margins and capital returns. NAV stands at $2.1B, with shares trading at a 37% discount.
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NAV reached $2.1 billion with significant capital returned to shareholders and key portfolio actions, including a $141 million impairment on Sightline and strategic transactions at Alight and D&B. Restaurant Group and AFC Bournemouth showed strong operational improvements.