Caledonia Investments earnings date
Caledonia Investments (CALEF) Q2 2027 Earnings Report
CALEF Q2 2027 EPS Results
- Actual EPS
- $0.37
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- $0.32
CALEF Q2 2027 Revenue Results
- Actual Revenue
- $212.73M
- Expected Revenue
- ―
- Beat/Miss
- ―
- YoY Revenue Growth
- +11.71%
Earnings Announcement Details
- Quarter
- Q2 2027
- Date
- 11/10/2026
- Time
- Before Open
- Conference Call
- Tuesday, November 10, 2026
Caledonia Investments's next earnings date is estimated for May 25, 2027, based on past reporting schedules.
Q2 2027 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2027 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2027 Earnings Call Summary
The call was predominantly positive, supported by 5.4% first-half NAV growth, strong long-term returns, a successful GBP 290 million Stonehage Fleming realization, new investments of approximately GBP 110 million, increased shareholder distributions, and a robust balance sheet. The principal negatives were the difficult position at Cooke Optics, subdued North American exit activity, foreign exchange headwinds, and the still-elevated share price discount.
Caledonia’s 10-year annualized NAV total return was 9.1%, at the top end of its target range of inflation, plus 3% to 6%, and management said it remains focused on compounding NAV over time, maintaining its progressive ordinary dividend, and addressing the discount; it will continue with share buybacks that are accretive to NAV per share, with GBP 38 million completed in the first half and “that level of pacing” able to continue, while Private Capital remains conservative on debt, typically around 2x to 2.5x EBITDA, with no fixed timetable for an exit. Blue Diamond has an agreed framework for up to a further GBP 40 million of investment over 5 years, subject to agreed conditions; Caledonia also has a commitment to the Cooke Optics management team to fund the sort of restructuring of the business and support the new product development, and the special dividend of 20p per share, along with the interim dividend of 3.84p per share, will be paid on the 6th of January 2027.
- Positive First-Half NAV PerformanceCaledonia delivered an NAV total return of 5.4% in the six months ended September 30, 2026, with all three investment pools contributing to growth. NAV increased to GBP 3.1 billion.
- Strong Long-Term NAV ReturnsOver 10 years, Caledonia delivered an annualized NAV total return of 9.1%, exceeding inflation by 5.5% and reaching the top end of its target range of inflation plus 3% to 6%.
- Successful Stonehage Fleming RealizationThe sale of Stonehage Fleming generated GBP 290 million of proceeds, a 3.2x money multiple, and a 33% uplift to its March 2025 carrying value.
- Capital Reinvestment in New Private BusinessesCaledonia reinvested approximately GBP 110 million in Blue Diamond Garden Centres and Conquip Engineering after the Stonehage Fleming realization.
- Special and Interim Dividends AnnouncedThe company announced a special dividend of 20p per share, representing an additional dividend return of 5% of market capitalization, alongside an interim dividend of 3.84p per share. Both are scheduled to be paid on January 6, 2027.
- Progressive Ordinary Dividend and Share BuybacksCaledonia increased its ordinary dividend for the 59th consecutive year and continued share buybacks. It deployed GBP 38 million on buybacks during the period, accreting NAV per share by 4.3p.
- Public Companies Pool GrowthThe GBP 980 million Public Companies pool, invested in around 30 businesses, delivered a 12.3% return over six months. It invested GBP 32 million and realized GBP 102 million, resulting in net realizations of GBP 70 million.
- Strong Public Companies Long-Term RecordThe Public Companies pool delivered 9.5% per year over 10 years, while the Capital pool returned 11.6% per year over the same period.
- Private Capital Portfolio ExpansionThe Private Capital pool now has approximately GBP 760 million invested across nine companies. The pool delivered a 0.6% return over six months, with positive contributions from AIR-serv Europe, Cobepa, and remaining gains on Stonehage Fleming.
- Blue Diamond Investment and Growth ProfileCaledonia invested GBP 60 million in July for an approximately 18% stake in Blue Diamond Garden Centres. The business operates 54 garden centers, and since 2013 its revenue has grown by around 17% per year and EBITDA by 21% per year. Caledonia also agreed a framework for up to a further GBP 40 million of investment over five years, subject to agreed conditions.
- Conquip Engineering InvestmentCaledonia invested GBP 50 million in August for a 61% stake in Conquip Engineering. The company operates through nine regional locations and provides specialist equipment for infrastructure, utilities, energy, and construction. Identified growth opportunities include expanding the rental fleet, developing new products, and pursuing selective acquisitions.
- Strong Realization Track RecordSince 2012, Caledonia has generated GBP 1.4 billion of proceeds and returned around GBP 700 million of net cash. Realized investments delivered an excellent 17% IRR and a 2x multiple on cost.
- Funds Pool Diversification and Long-Term ReturnsThe Funds pool had NAV of GBP 998 million invested across approximately 83 funds, 46 managers, and more than 600 underlying businesses. It delivered a 12.2% per annum return over 10 years.
- Strong Asia Funds PerformanceThe Asia portfolio delivered a 13.3% return for the six months in local currency, supported by the continued improvement in the IPO and fundraising environment that began in the second half of the prior year.
- Funds Pool Overall ReturnThe Funds pool produced a 5.5% six-month return in local currency and a 4.7% return in sterling.
- Robust Balance Sheet and LiquidityCaledonia reported GBP 277 million of cash, no structural leverage, and a strong balance sheet that supports further investment opportunities, dividends, and share buybacks.
- Investment Income and Portfolio ScaleThe portfolio generated GBP 27 million of investment income during the period. GBP 2.7 billion of the GBP 3.1 billion NAV was invested in a diversified portfolio of listed and privately held companies and funds with global reach.
- Discount RecoveryThe discount recovered from 43% at the end of March to 36% during the period, which improved total shareholder returns.
- Continuity Through Leadership ChangesJamie Cayzer-Colvin will step down as Head of Funds in January 2027 while remaining an Executive Director and Investment Committee member through 2027. Eloise Fox and Min Ong will lead the Funds pool, and Theo Tizard will succeed Tom Leader as Head of Private Capital in December. Management stated that there are no planned changes to the existing pool strategies.
CALEF Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| May 25, 2027 | 2027 (Q4) | ―- | 0.02 | ― | ― |
| Nov 10, 2026 | 2027 (Q2) | ―0.37 | 0.32 | 15.70% (+0.05) | |
| May 19, 2026 | 2026 (Q4) | ―0.02 | 0.15 | -85.32% (-0.12) | |
| Nov 25, 2025 | 2026 (Q2) | ―0.32 | 0.02 | 1628.57% (+0.30) | |
| May 20, 2025 | 2025 (Q4) | ―0.15 | 0.24 | -40.44% (-0.10) | |
| Nov 26, 2024 | 2025 (Q2) | ―0.02 | 0.26 | -92.71% (-0.24) | |
| May 21, 2024 | 2024 (Q4) | ―0.24 | 0.05 | 346.34% (+0.19) | |
| Nov 21, 2023 | 2024 (Q2) | ―0.26 | 0.3 | -13.51% (-0.04) | |
| May 23, 2023 | 2023 (Q4) | ―0.05 | 0.63 | -91.31% (-0.58) | |
| Nov 22, 2022 | 2023 (Q2) | ―0.30 | 0.86 | -65.69% (-0.57) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
