Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-38300 CANNAE HOLDINGS, INC. _____________________________________________________________________________________________________________________________ ...

TM ANNAE Third Quarter 2024 Update CANNAE HOLDINGS, INC. / THIRD QUARTER 2024 UPDATE Forward-Looking Statements and Risk Factors This communication contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our 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 inf ...

Compassionate Eye Foundation/David Oxberry/DigitalVision via Getty Images Cannae Holdings (NYSE:CNNE) is a holding company that was founded by Bill Foley, a billionaire and West Point graduate with a long term history of creating value for shareholders. CNNE gives you the opportunity to "tag along" with Bill Foley. It usually trades at a big discount to the "sum of the parts" or mark-to market valuation of the underlying portfolio. Management has recently increased efforts to reduce the discount. What Can C ...

Financial Data and Key Metrics Changes - Cannae Holdings reported a second quarter 2024 operating revenue decline of $35 million or 23% year-over-year, reflecting a 27% reduction in the number of restaurant locations [18] - The company recognized losses of $145 million in the second quarter, primarily due to a noncash impairment charge related to the Sightline investment [20] - Cannae's aggregate net asset value (NAV) was reported at $2.1 billion or $32.90 per share, compared to a closing price of $19.95 [22] Business Line Data and Key Metrics Changes - Dun & Bradstreet (D&B), Cannae's largest holding, reported second quarter revenue of $576 million, representing 4.3% year-over-year organic growth, an acceleration from 3.9% in the prior year [9] - Alight's second quarter revenue from continuing operations was $538 million, down 4% from $561 million in the prior year, with adjusted EBITDA of $105 million, representing a 19.5% margin compared to 21.2% in the previous year [12] - AFC Bournemouth's revenue for the 12 months ended June 30, 2024, grew to approximately $203 million, a 19% increase from $170 million in the prior year [13] Market Data and Key Metrics Changes - D&B's adjusted EBITDA grew by 5.7% in the second quarter, equating to $218 million at a 37.8% margin, up 60 basis points year-over-year [10] - Alight's net leverage decreased to 2.8 times after repaying $740 million of debt from the sale of its Payroll and Professional Services business [11] Company Strategy and Development Direction - Cannae's strategy focuses on improving portfolio company performance, making new investments in private businesses, and providing capital returns to shareholders through dividends and share repurchases [4] - The company aims to close the share price discount to NAV through these strategic pillars [5] - Cannae is actively seeking new investment opportunities, particularly in private markets, and plans to fund acquisitions by redeploying capital from public company investments [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about portfolio companies and highlighted efforts to drive revenue growth and improve cash flow [6] - The company acknowledged challenges with certain investments, particularly the impairment of Sightline due to lack of market adoption for key products [6][20] - Management remains confident in the strategic direction and potential for NAV growth [44] Other Important Information - Cannae plans to pay a second dividend of $0.12 per share on September 30, 2024, and has returned over $235 million to shareholders in 2024 through dividends and share buybacks [9] - The company has made significant progress in its portfolio companies, including the successful sale of Alight's Payroll and Professional Services business for up to $1.2 billion [5] Q&A Session Summary Question: Update on D&B investment thesis and valuation - Management reiterated that D&B was initially viewed as undervalued with strong data assets and market penetration, and they are frustrated with its current trading position despite operational improvements [25] Question: Investment expectations for AFC Bournemouth - Management indicated that capital needs for Bournemouth are still being assessed due to the ongoing transfer window, but some investment is expected [27] Question: Potential strategic sale of Alight - Management stated that while there is interest in Alight, capital allocation decisions will depend on market conditions and opportunities [31] Question: Capital allocation strategy - Management emphasized a balanced approach to capital allocation, considering both share buybacks and new investments [33] Question: Impairment charge for Sightline - Management clarified that the impairment was driven by lack of traction with legacy products and ongoing development challenges [42]

Earnings Performance - Cannae Holdings reported a quarterly loss of $0 16 per share, beating the Zacks Consensus Estimate of a loss of $0 29, representing an earnings surprise of 44 83% [1] - The company's loss per share improved significantly compared to the year-ago loss of $1 16 per share [1] - Over the last four quarters, Cannae has surpassed consensus EPS estimates only once [2] Revenue Performance - Cannae posted revenues of $118 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 5 93% [2] - This compares to year-ago revenues of $152 8 million, indicating a decline [2] - The company has topped consensus revenue estimates just once over the last four quarters [2] Stock Performance - Cannae shares have lost about 0 7% since the beginning of the year, underperforming the S&P 500's gain of 9% [3] - The stock's immediate price movement will depend on management's commentary on the earnings call [3] Earnings Outlook - The current consensus EPS estimate for the coming quarter is -$0 31 on $110 2 million in revenues [7] - For the current fiscal year, the consensus EPS estimate is -$1 80 on $432 6 million in revenues [7] - The estimate revisions trend for Cannae is mixed, translating into a Zacks Rank 3 (Hold) [6] Industry Outlook - The Financial - Investment Management industry is currently in the bottom 30% of the Zacks industries [8] - The top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8] Peer Performance - Greenidge Generation Holdings Inc is expected to post a quarterly loss of $0 37 per share, representing a year-over-year improvement of 74 1% [9] - The consensus EPS estimate for Greenidge has been revised 10 4% lower over the last 30 days [9] - Greenidge's revenues are expected to be $16 1 million, up 9 5% from the year-ago quarter [10]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-38300 CANNAE HOLDINGS, INC. | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------------- ...

TM ANNAE = Second Quarter 2024 Update CANNAE HOLDINGS, INC. / SECOND QUARTER 2024 UPDATE Forward-Looking Statements and Risk Factors This communication contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our 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 ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Cannae Holdings, Inc. (CNNE) is an asset management company. The Zacks Consensus Estimate for its current year earnings has been revised 42.3% downward over the last 60 days. Dorian LPG Ltd. (LPG) is a liquefied petroleum gas transportation company. The Zacks Consensus Estimate for its current year earnings has been revised 22.2% downward over the last 60 days. Japan Airlines Co., Ltd. (JAPSY) is an air transport company.The Zacks Co ...

Fortescue Ltd (FSUGY) is a mining company.The Zacks Consensus Estimate for its current year earnings has been revised 5.7% downward over the last 60 days. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Cannae Holdings, Inc. (CNNE) is an investment company. The Zacks Consensus Estimate for its current year earnings has been revised 42.9% downward over the last 60 days. View the entire Zacks Rank #5 List. Crescent Energy Company (CRGY) is an oil and gas exploration and production c ...

Cannae Holdings, Inc. (NYSE:CNNE) Q1 2024 Earnings Conference Call May 9, 2024 5:00 PM ET Company Participants Jamie Lillis - Managing Director, Solebury Strategic Communications Bill Foley - Chairman & Chief Executive Officer Ryan Caswell - President Bryan Coy - Chief Financial Officer Conference Call Participants John Campbell - Stephens Ian Zaffino - Oppenheimer Operator Good afternoon, ladies and gentlemen, and welcome to the Cannae Holdings Inc. First Quarter 2024 Financial Results Conference Call. Dur ...