Cannae reports Q2 net loss $263.3M; repurchases 5.8M shares from FNF; new 10M share buyback authorized

Cannae Holdings, Inc.

2022-Q2 EPS reported -$6.03 revenue$-116,800,000

Q2 net loss $263.3M (EPS -$3.15) vs income $176.4M in prior year; operating loss $27M.
Repurchased 5.8M shares from FNF at $18.81 avg; new 10M share buyback authorized; total 12.7M shares repurchasable.
Sold 2M Ceridian shares for $112.4M gross; holds 6M CDAY shares; sold 1.7M SST shares for $22.7M.
AmeriLife stake valued at $338M (2.8x cost); expects to monetize substantial portion in H2 2022.
After quarter end, sold 9.2M DNB shares for $127M gross; DNB initiates $0.05 quarterly dividend.

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