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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.
Kingsway
Kingsway (KWY) investor relations material
Kingsway Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 revenue rose 4.5% YoY to $38.9M; consolidated net loss widened to $3.2M from $2.4M.
Portfolio EBITDA exceeded $6M, up 29% YoY; organic segment adjusted EBITDA grew 54.1%.
Consolidated adjusted EBITDA was $2.0M versus $2.1M; Q3 cash from operations was $4.1M.
9M revenue rose to $117.3M from $96.4M, while net loss narrowed to $5.3M from $8.7M.
Financial highlights
Q3 operating income was $0.4M versus an operating loss of $0.9M; gross profit was $16.2M versus $16.4M, and SG&A was $15.4M versus $16.9M.
Q3 net loss attributable to common shareholders was $3.0M versus $2.8M; basic and diluted loss per share were $0.10, unchanged YoY.
9M operating income was $0.8M versus an operating loss of $2.7M; common-shareholder net loss was $6.7M versus $9.8M.
9M operating cash flow was $5.3M; cash and restricted cash ended at $16.1M, down $0.2M from year-end.
Outlook and guidance
Organic profit growth is expected to remain strong in Q4 and 2027, then normalize toward the long-term target of consistent double-digit organic adjusted EBITDA growth.
Management expected two acquisitions in 2026 rather than three, with a return to a target of three to five deals in 2027.
Portfolio LTM EBITDA was estimated at $23M–$24M at September 30, with positive momentum expected in Q4 and 2027.
Existing cash, investments and expected operating cash flows are projected to cover working capital and operating expenses for 12 months, subject to macroeconomic risks.
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Next Kingsway earnings date
Q4 202612 Mar, 2027
Kingsway
Next Kingsway earnings date
Q4 202612 Mar, 2027
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Frequently asked questions
Kingsway Financial Services Inc. is a holding company primarily engaged in the insurance and finance sectors. The company focuses on providing specialty insurance solutions through its subsidiaries, which include extended warranty and vehicle service contract businesses. Kingsway also invests in various other financial services and insurance-related businesses, seeking to create long-term value through strategic acquisitions and management of its portfolio. In addition to its insurance operations, the company holds investments in real estate and other financial ventures. The company is headquartered in Itasca, Illinois, and its shares are listed on the NYSE.