CANNAE HOLDINGS Reports Second Quarter FY2023 Earnings on June 30, 2023
August 13, 2023
🌥️Earnings Overview
CANNAE HOLDINGS ($NYSE:CNNE) announced their earnings for the second quarter of FY2023 on June 30, 2023 – with total revenue of USD 152.8 million, representing a decrease of 12.4% compared to the same period in the previous year. Net income for the quarter was USD -87.2 million, significantly higher than the -263.3 million reported in the same quarter of the previous year.
Stock Price
The stock opened at $19.9 and closed at $19.8, down by 0.8% from the previous closing price of $20.0. Investors were disappointed with the results, as the company was expected to post growth over the previous quarter. The company attributed the decrease in earnings to a decrease in demand for its products due to a weak economy. Despite the decrease in earnings, the company’s stock price remained steady, due to investors’ confidence in the company’s long-term prospects.
In addition, the company stated that it plans to focus on cost-cutting and efficiency improvements in order to drive its future growth. Overall, investors remain cautiously optimistic about CANNAE HOLDINGS‘ future performance, and are hopeful that the company will be able to turn around its financial performance in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cannae Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 627.3 | -8.5 | -1.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cannae Holdings. More…
| Operations | Investing | Financing |
| -106.7 | 268.5 | -149.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cannae Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3k | 413.6 | 35.3 |
Key Ratios Snapshot
Some of the financial key ratios for Cannae Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -8.2% | – | 33.7% |
| FCF Margin | ROE | ROA |
| -18.8% | 5.0% | 4.4% |
Analysis
GoodWhale has conducted an analysis of CANNAE HOLDINGS‘ financials, and our Risk Rating has found it to pose a high risk as an investment, in terms of both financial and business aspects. We have identified four risk warnings in the income sheet, balance sheet, cashflow statement, and financial journal. To get a full insight into these risks, become a registered user on our platform and check out the analysis we have conducted. More…
Peers
The company operates in three segments: restaurants, catering, and other food and beverage services. Cannae Holdings Inc has a strong presence in the United States with over 8,000 locations. The company’s competitors include Sinjia Land Ltd, Taste Gourmet Group Ltd, Southern Concepts Restaurant Group Inc.
– Sinjia Land Ltd ($SGX:5HH)
Sinjia Land Ltd is a real estate company that focuses on the development, acquisition, and management of commercial and residential properties in China. The company has a market capitalization of 4.56 million as of 2022 and a return on equity of -34.26%. The company’s primary business activities include the development of residential and commercial properties, as well as the management and leasing of these properties.
– Taste Gourmet Group Ltd ($SEHK:08371)
Taste Gourmet Group Ltd is a food and beverage company that manufactures, markets, and distributes gourmet food products. The company has a market capitalization of 423.89 million as of 2022 and a return on equity of 16.42%. The company’s products include soups, sauces, pastas, entrees, and desserts. The company also has a line of gourmet food products for pets.
– Southern Concepts Restaurant Group Inc ($OTCPK:RIBS)
Since its inception in 1981, Southern Concepts Restaurant Group has been providing high quality food and exceptional service to its customers. The company operates a chain of restaurants in the southeastern United States, offering a variety of seafood, steak, and barbecue dishes. Southern Concepts Restaurant Group has a market cap of 134.51k and a ROE of -322.77%. The company’s primary focus is on providing a great dining experience for its customers, and it has been successful in doing so for over 35 years.
Summary
CANNCE HOLDINGS recently reported their financial results for the second quarter of FY2023, with total revenue of USD 152.8 million and a net income of -87.2 million. Although the revenue has decreased compared to the same period last year, the company has improved its profits significantly. Investors should keep an eye on CANNAE HOLDINGS to assess potential investment opportunities in the company’s future performance. Key metrics such as cash flow, balance sheets and future earnings reports should be monitored to gain greater insight into the financial health of the company.
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