Clairvest (CVG) Q2 2025 earnings summary

Executive summary

• Book value increased to $1,196.9 million ($84.06 per share) as of September 30, 2024, up from $1,186.2 million ($81.02 per share) at June 30, 2024.

• Net income for Q2 2025 was $39.0 million ($2.68 per share), primarily from gains in private equity investments in waste management and gaming.

• Six-month net income reached $62.9 million ($4.31 per share), driven by the sale of Winters Bros. Long Island and portfolio valuation increases.

• 404,020 shares were repurchased and cancelled for $28.3 million, adding $0.37 per share to book value.

• Les Viner was appointed to the board of directors.

Financial highlights

• Net income for Q2 2025 was $39.0 million, compared to a net loss of $44.0 million in Q2 2024.

• Six-month net income was $62.9 million, compared to a net loss of $24.5 million for the same period last year.

• Book value per share rose to $84.06 from $80.16 as of March 31, 2024.

• Total assets increased to $1,354.3 million from $1,342.1 million at March 31, 2024.

• Cash, cash equivalents, and temporary investments totaled $319.6 million at quarter end.

Outlook and guidance

• Management remains focused on growing value with existing partners and pursuing new transactions.

• Progress is being made on multiple fronts, with ongoing efforts to address challenges as they arise.