Cannae Holdings, Inc. (NYSE:CNNE) Q2 2023 Results Conference Call August 9, 2023 5:00 PM ET

Company Participants

Rory Rumore - Solebury Communications

Rick Massey - CEO

Bryan Coy - CFO

Ryan Caswell - President

Conference Call Participants

John Campbell - Stephens

Kenneth Lee - RBC Capital Markets

Operator

Good afternoon, ladies and gentlemen, and welcome to the Cannae Holdings, Incorporated Second Quarter 2023 Financial Results Conference Call. During today's presentation, all parties will be in listen-only mode. Following the company's brief prepared remarks, the conference will be open for questions with instructions to follow at that time. As a reminder, this conference call is being recorded and a replay it is available to 11:59 pm Eastern Time on August 16, 2023.

With that, I would like to turn the call over to Rory Rumore of Solebury Communications.

Rory Rumore

Thank you, operator, and all of you for joining us this afternoon. On the call today, we have our Chief Executive Officer, Rick Massey; Cannae's President, Ryan Caswell; and Bryan Coy, our Chief Financial Officer.

Before we begin, I would like to remind listeners that this conference call and the Q&A following our remarks may contain forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about Cannae's expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by and information currently available to management. Because such statements are based on expectations as to future financial and operating results, and are not statements of fact actual results may differ materially from those projected.

The company undertakes no obligation to update any forward-looking statements whether as a result of new information, future events, or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to the risks and other factors detailed in our quarterly shareholder letter, which was released this afternoon, and in our other filings with the SEC.

Today's remarks will also include references to non-GAAP financial measures. Additional information including reconciliation between non-GAAP financial information to the GAAP financial information is provided in our shareholder letter.

I would now like to turn the call over to Cannae's Chief Executive Officer, Rick Massey, who will open with a few brief remarks, and then open the line for your questions.

Rick Massey

Hey, thanks, Rory. Hello everybody. Thank you for joining our second quarter conference call. Not a lot of news to report to our investors this quarter. The headline is going to be that we bought back 3.1 million shares of our stock in the past from May through July, so it's kind of a quarter we started right after the end of the first quarter. We took a pause during the first quarter for -- on buybacks, but we got back, with both feet and the second during in May through July, we bought back.