EarningsQ2 2026 Earnings Report
MX:FFHN Q2 2026 EPS Results
Actual EPS$1151.07
Consensus EPS$1551.14
Beat/MissMissed by -$400.08
One Year Ago EPS$1118.92
MX:FFHN Q2 2026 Revenue Results
Actual Revenue$206.79B
Expected Revenue$170.12B
Beat/MissBeat by +$36.67B
YoY Revenue Growth+1.57%
Earnings Announcement Details
QuarterQ2 2026
Date04/30/2026
TimeAfter Close
Conference CallThursday, April 30, 2026
MX:FFHN Upcoming Earnings
Fairfax Financial Holdings's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive financial and operational picture: strong operating income, solid underwriting results, meaningful realized and unrealized investment gains, book value per share growth, sizable and well-positioned investment portfolio, successful corporate transactions and active capital returns. Offsetting items include weaker quarterly profits of associates (driven by mark-to-market/write-downs), unrealized bond losses from rising rates, softening pricing in parts of the insurance market (notably property in North America), and modestly higher leverage. On balance, the company emphasized diversification, conservative reserving, high-quality fixed income, and long-term partnerships, with positives materially outweighing the lowlights.Company Guidance
Strong Operating and Underwriting Income
Operating income from insurance & reinsurance (adjusted, undiscounted, before risk margin) of $1.1 billion in Q2 2026; underwriting income $459 million, up from $427 million YoY; combined ratio improved marginally to 93.1% (from 93.3% a year ago) and IFRS 17 combined ratio improved to 81.9% (from 84.1).
Robust Investment Gains and Income
Net investment gains of $769 million in the quarter; interest and dividend income $737 million, up 11% YoY; consolidated investment return ~2% for the quarter; net earnings of $1.4 billion in Q2 and $2.1 billion YTD.
Book Value Growth and Share Buybacks
Book value per basic share $1,304.39 at June 30, 2026, up 4.8% from Dec 31, 2025 (adjusted for $15 dividend); share repurchases during the quarter (680,000 shares for $1.1 billion) and YTD purchases of ~1.1M shares for ~$1.7B, demonstrating capital return and confidence in intrinsic value.
Successful Strategic Transactions
Closed sale of half of Poseidon for proceeds $1.9 billion and a pretax realized gain of $838 million; closed privatization of Kennedy-Wilson (consortium led, Fairfax invested $400M); announced privatization of Andrew Peller and Sleep Country's acquisition of Sleep Number (~$530M purchase consideration).
Investment Portfolio Size and Quality
Total investment portfolio $77.3 billion: fixed income $52.3B (over 75% government bonds), equities & equity-like ~$25B; fixed income duration 2 years and portfolio yield ~5%, emphasizing liquidity and high credit quality.
Significant Unrealized Equity Upside
Fair value in excess of carrying value for equity-accounted and non-mark-to-market consolidated investments of $4.4 billion (≈$220/share pretax), up from $110/share a year ago and $150/share at year-end 2025, indicating meaningful unrealized upside not reflected in book value per share.
Premium Growth and International Expansion
Insurance & reinsurance gross written premium $9.4 billion in Q2, up 4.1% YoY; international gross premiums up 8.2% with Fairfax Asia +26%, Bryte +16%, LatAm +11% and Gulf +5.4%, international operations ~21% of overall gross premium and showing strong growth.
Favorable Reserve Development
Favorable reserve development of $152 million in the quarter, equating to a 2.3 point benefit to the combined ratio; management highlights conservative reserving, particularly for long-tail lines.
MX:FFHN Earnings History
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.
Beat
Missed