Cannae Holdings Q1 2024 GAAP EPS $(1.27) Misses $(0.18) Estimate, Sales $110.700M Miss $126.233M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cannae Holdings (NYSE:CNNE) reported Q1 2024 GAAP EPS of $(1.27), significantly missing the $(0.18) estimate, and sales of $110.700M, also below the $126.233M estimate. This represents a substantial decrease in performance compared to the same period last year, with losses increasing by 2440% and sales dropping by 28.26%.
May 09, 2024 | 10:39 pm
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NEGATIVE IMPACT
Cannae Holdings reported a significant miss in both EPS and sales for Q1 2024, with a 2440% increase in losses and a 28.26% decrease in sales compared to last year.
The substantial miss in both earnings per share and sales compared to analyst estimates, coupled with the dramatic increase in losses and decrease in sales year-over-year, is likely to negatively impact investor sentiment and the stock price of Cannae Holdings in the short term. The magnitude of the miss and the comparison to last year's performance highlight significant operational challenges, which could lead to downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100