CEO Ryan R. Caswell said Cannae remains committed to share buybacks and dividends, citing $44 million of repurchases this year.
Quarterly results improve as revenue declines
Cannae posted GAAP net earnings attributable to common shareholders of $37.5 million, swinging from a loss in the prior-year quarter; GAAP EPS was $0.86.
GAAP operating revenue fell 7.26% to $102.2 million, while GAAP operating loss narrowed to $56.8 million from $60.9 million a year earlier.
Recognized gains (losses), net turned to a gain of $82.8 million from a loss in the prior-year quarter, lifting GAAP earnings before taxes and equity-method results to $28.3 million.
Portfolio activity includes sale and acquisition
Portfolio reshuffle accelerated with the $90 million sale of a 49% stake in , alongside the acquisition of at a enterprise value.
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