Cannae Holdings, Inc. (NYSE: CNNE) reported Q3 EPS of $0.02, $0.02 better than the analyst estimate of $0.00. Revenue for the quarter came in at $293.5 million versus the consensus estimate of $287 million.

“I am pleased with the progress that we achieved positioning Cannae to deliver continued growth and value for our shareholders,” commented Chairman William P. Foley, II. “During the quarter, Ceridian delivered impressive results, highlighted by 29% cloud revenuegrowth driven by the addition of 610 Dayforce customers from the year ago period. Cannae currently owns 37,135,921 shares in Ceridian representing a 27% ownership stake that is now worth $1.46 billion based upon Ceridian’s closing price of $39.25 on November 7, 2018.”

Mr. Foley continued, “I am also very excited with our pending acquisition of Dun & Bradstreet (DNB) which we announced on August 8, 2018 in partnership with an investment consortium including CC Capital and Thomas H. Lee Partners. The transaction, which is valued at $6.9 billion, including the assumption of $1.5 billion of Dun & Bradstreet’s net debt, was approved by Dun & Bradstreet’s stockholders on November 7, 2018 and remains on track to close during the first quarter of 2019. Additionally, we have entered into a non-binding commitment with various investors to syndicate $400 million of our total commitment. We expect to retain $500 million of our commitment, representing approximately 25% equity ownership of Dun & Bradstreet.

“Turning to our restaurant group, the industry backdrop remains challenging for casual dining which has pressured results this quarter as can be seen in the group’s modest same store sales decline. ABRH’s management team continues to implement a broad range of initiatives designed to reduce expenses, increase productivity, improve customer satisfaction and drive traffic. We continue to see much opportunity to expand margins, which currently lags peers and are a clear priority. One highlight to note this quarter is our 99 Restaurant and Pub brand which delivered a 5.9% increase in same store sales and continues to be a standout in the group and the gem in our restaurant portfolio. Importantly, we completed a restructuring of the group this past week which has increased our ownership interest in the Restaurant Group to 65.4%, and, more importantly, in 99 Holdings to 88.5%.”

Mr. Foley concluded, “On August 1, 2018 we named Bob Wilhelm Chief Executive Officer of T-System. Bob brings the right experience having spent over twenty years in leadership positions in the technology enabled healthcare services industry including notable market leaders Cerner and Trizetto. Since coming onboard, Bob has initiated a comprehensive strategic review of the business designed to produce actionable initiatives to improve sales efficiencies and growth as well profitability in both the documentation and coding divisions. Bob and our team at Cannae are also actively reviewing potential acquisition candidates to further enhance T-System’s capabilities while also creating cross-sell opportunities.”

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