Cannae Holdings, Inc.

Cannae Holdings, Inc. Earnings Recaps

CNNE Consumer Discretionary 2 recaps
Q1 2026 May 12, 2026

Shares fell 5.3% following the quarter as investors reacted negatively to a cautious outlook and ongoing challenges in the non-core restaurant segment, signaling concerns over portfolio deceleration and limited near-term catalysts despite buybacks and cost controls.

Key takeaways
  • Returned $51 million to shareholders through buybacks and dividends, representing 86% of capital allocated year-to-date, with buybacks accelerated amid perceived undervaluation.
  • Black Knight Football showed solid operational progress with double-digit revenue growth and EBITDA of $136 million, supported by significant player sales and strong sporting performance.
  • The restaurant business remains a non-core segment under strategic review, with no immediate resolution, raising concerns about monetization timing and value realization.
  • Corporate holding company costs decreased by approximately 45% year-over-year, reflecting ongoing management discipline on overhead.
  • The board continues to evaluate portfolio optimization and governance enhancements but provided limited visibility on near-term NAV expansion or asset sales.
Full recap
Q3 2025 Nov 11, 2025

Cannae Holdings delivered robust third-quarter results, significantly advancing its strategic plan by monetizing public investments and enhancing shareholder returns.

Key takeaways
  • Successfully sold Dun & Bradstreet, generating $630 million and enabling $424 million in capital returns to shareholders, including $275 million in share buybacks.
  • Reduced exposure to public investments from 70% to 20%, focusing on proprietary private investments expected to yield outsized returns.
  • Ongoing capital allocation in sports-related assets, including a 30% stake increase in JANA Partners and a $25 million investment in Black Knight Football.
  • Achieved $424 million in total share repurchases and dividends since announcing a strategic plan in 2024, representing 35% of outstanding shares at that time.
  • Narrowed the share price discount to NAV by approximately 20%, indicating growing investor confidence and commitment to shareholder value creation.
Full recap