Cannae Holdings, Inc. (NYSE: CNNE) reported Q2 EPS of ($0.26), $0.20 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $303.9 million versus the consensus estimate of $308 million.

“I am pleased with our second quarter results and the progress that we achieved positioning Cannae to deliver continued growth and value for shareholders,” commented Chairman William P. Foley, II. “Cannae owns 37,135,921 shares representing a 27% stake in Ceridian which is now worth $1.31 billion based upon the company's closing price of $35.19 on August 10, 2018. We continue to be pleased with Ceridian’s growth and opportunity to further expand their business as can be seen in their strong results this quarter. Additionally, Lifeworks was sold to Morneau Shepell for $325 million in proceeds on July 27, 2018. Cannae will receive approximately $56 million in cash proceeds for its interest in Lifeworks which we expect to receive at the end of August.”

Mr. Foley continued, “I am also pleased with our announcement on August 8, 2018 of our entry into a definitive agreement in partnership with an investment consortium including CC Capital and Thomas H. Lee Partners to acquire Dun & Bradstreet (DNB). The transaction is valued at $6.9 billion, including the assumption of $1.5 billion of Dun & Bradstreet’s net debt. In an increasingly data-driven world, Dun & Bradstreet’s insight-driven business model and interconnectivity across industries has positioned the company for continued success. We are excited to grow the Company, increase operating efficiencies and improve the DNB customer experience by providing enhanced business solutions.

“The restaurant group delivered operational improvement through the second quarter despite what remains a challenging industry backdrop for casual dining. Initiatives have been put in place to reduce expenses, increase productivity, and improve customer satisfaction levels across our brands. Importantly, we continue to see significant room for further margin improvement and are working with ABRH’s management team to deliver profitability that is more in line with peers.”

Mr. Foley concluded, “Turning to T-System, we announced on August 1, 2018 that Bob Wilhelm has been named T-System’s new Chief Executive Officer. Bob has the right skillset to build upon T-System’s established documentation and coding businesses as we work to accelerate the Company’s organic growth and execute upon our acquisition strategy to expand T-System’s capabilities. We are excited about T-System and the future growth potential."

For earnings history and earnings-related data on Cannae Holdings, Inc. (CNNE) click here.