Quarterly ResultAug 10, 2026, 04:19 PM
Cannae Holdings Q2 EPS $0.86; Net Earnings $37.5M; Acquires Exeter Rugby
AI Summary
Cannae Holdings reported Q2 2026 net earnings of $37.5 million, a significant turnaround from a $238.8 million net loss in the prior year, resulting in diluted EPS of $0.86. The company continued its portfolio transformation, divesting its 49% interest in Watkins for $90 million and acquiring Exeter Rugby Group for approximately $26 million. Its largest asset, Black Knight Football, saw AFC Bournemouth achieve a historic 6th place finish in the Premier League, qualifying for European competition, while the restaurant group continued to struggle.
Key Highlights
- Q2 2026 diluted EPS was $0.86, a significant improvement from $(3.93) loss YoY.
- Net earnings attributable to Cannae Holdings reached $37.5 million, reversing a $(238.8) million loss YoY.
- Acquired Exeter Rugby Group for approximately $26 million, expanding sports and entertainment portfolio.
- Divested 49% interest in Watkins for $90 million cash proceeds.
- Black Knight Football's AFC Bournemouth finished 6th in Premier League, qualifying for European competition.
- Repurchased 3.4 million shares for $44 million year-to-date.
- Alight Q2 Adjusted EBITDA decreased to $92.0 million from $127.0 million YoY.
- Cannae Restaurant Group reported a Q2 net loss of $(40.0) million, with O'Charley's same-store sales down 13.1%.
Price Impact
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