Q4 2025 Cannae Holdings Inc Earnings Call Transcript
Key Points
- Cannae Holdings Inc (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 (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 (CNNE) reported an operating loss of $119 million for the full year 2025, up from $104 million in 2024.
- The company faced $12 million in non-cash impairment charges related to certain O'Charley's locations.
- Net recognized losses amounted to $8 million in the fourth quarter of 2025, largely due to mark-to-market losses on the exit from Paysafe.
- The management expressed dissatisfaction with the current stock price, indicating it does not reflect the intrinsic value of the company's assets.
Good afternoon, ladies and gentlemen, and welcome to the Cannae Holdings Inc. fourth-quarter and full-year 2025 financial results conference call. (Operator Instructions)
As a reminder, this conference call is being recorded, and a replay is available through 11:59 PM Eastern Time on March 9, 2026. With that, I would like to turn the call over to Jamie Lillis of Solebury Strategic Communications. Please go ahead.
Thank you, operator, and all of you for joining us. On the call today, we have Cannae's CEO, Ryan Caswell; and Bryan Coy, our Chief Financial Officer.
Before we begin, I would like to remind listeners that this conference call and the Q&A following our remarks may contain forward-looking statements that involve a number of risks and uncertainties. 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
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