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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Fairfax Financial
Fairfax Financial (FFH) investor relations material
Fairfax Financial Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
Q3 net earnings attributable to shareholders were $929.6m, or $43.32 per diluted share, versus $1,151.7m and $52.04 in Q3 2025; 9M attributable earnings were $3,018.0m.
Book value per basic share rose 8.4% YTD to $1,349.15, adjusted for the $15 dividend.
P&C underwriting remained profitable, while $858.7m of Q3 investment losses, primarily bond marks, weighed on earnings.
Financial highlights
Q3 total net earnings were $1,096.9m, including $929.6m attributable to shareholders and $167.3m attributable to non-controlling interests.
Q3 net investment losses were $858.7m versus gains of $426.2m in 2025; 9M losses were $475.7m versus gains of $2,434.3m.
Q3 interest and dividends were $668.7m versus $655.4m, and associate profit was $378.0m versus $305.0m.
Q3 non-insurance operating income was $253.6m versus $211.4m; 9M income was $484.1m versus $296m.
Outlook and guidance
Proposed $5.6bn acquisition of a 60.72% stake in IDBI Bank remains subject to definitive agreements and approvals.
Proposed Boots transaction with Wittington includes ~$8.9bn of consideration, including assumed debt, with up to ~$2.3bn committed and an expected 50% equity interest; closing is expected in Q1 2027.
Recipe’s proposed acquisition of Evergood for estimated gross consideration of $350m is expected to close in late 2026 or early 2027, subject to approvals and customary conditions.
Management expects disciplined underwriting and attractive underlying margins despite softening rates; fourth-quarter actuarial reserve reviews were underway.
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Latest events from Fairfax Financial
- Proposed 60.72% IDBI Bank stake links banking scale with insurance and capital markets.FFH
M&A announcement - Book value per share rose 4.8% to $1,304.39, driven by strong underwriting and asset sales.FFHQ2 2026
- Premiums and operating income up, but net earnings fell on investment losses; asset sales ahead.FFHQ1 2026
- Record earnings, strong book value growth, and decisive board elections defined 2025.FFHAGM 2026
- Record $4,772.4M net earnings and 20.5% book value growth, with strong underwriting and investments.FFHQ4 2025
- Q3 net earnings reached $1.2B, with strong underwriting and investment gains lifting book value 15%.FFHQ3 2025
- Directors were elected with strong support as the meeting celebrated growth and leadership.FFHAGM 2025
- Q2 net earnings rose 23% to $915.4M, with strong insurance results and robust capital position.FFHQ2 2024
- Earnings rose to $946M as investment gains and premium growth offset wildfire losses.FFHQ1 2025
Next Fairfax Financial earnings date
Q4 202618 Feb, 2027
Fairfax Financial
Next Fairfax Financial earnings date
Q4 202618 Feb, 2027
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Frequently asked questions
Fairfax Financial Holdings Limited, provides property and casualty insurance and reinsurance, and investment management services in the north America, Asia, and internationally. The company also offers investment advisory services. It provides property and casualty insurance solutions to businesses; and works as a commercial insurer with diverse lines of business, including owners' professional liability underwriting, builders risk underwriting, environmental liability underwriting, directors' and officers' insurance, fiduciary liability insurance and employment practices liability underwriting. The company markets its insurance products to businesses in a variety of industry sectors. As of December 31, 2017, it served approximately 84,000 clients through a network of approximately 680 independent agents and brokers. Fairfax Financial Holdings Limited is based in Toronto, Canada.