Fairfax Financial Holdings Ltd FFH Earnings Beat Estimates by 85.8%

Fairfax Financial reported calendar EPS of C$74.11 for the quarter ended September 30, well above the C$39.89 estimate. The result follows two straight estimate misses, though the company’s recent record remains mixed.

Fairfax Financial Holdings Ltd. (TSX: FFH) reported earnings after the market close on November 3, 2026. Its EPS of C$74.11 beat the estimate by 85.8%. Fairfax is a holding company focused mainly on property and casualty insurance, reinsurance, and investment management. For Canadian investors, the beat stands out. But the supplied data doesn’t include quarterly revenue, margins, or an explanation for the result, so the EPS figure alone doesn’t show what drove it.

Recent earnings trend

Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.

Beat estimates in 2 of the last 4 comparable quarter(s).

Investor takeaway: Fairfax delivered a strong EPS beat after missing estimates in the previous two reported quarters. But it beat estimates in only two of the last four comparable quarters, and just one analyst contributed to the next-quarter consensus. Consider the headline result alongside that uneven record and the risks insurers face, including claims, catastrophe losses, market movements, and reserve adequacy.

C$74.11 EPS versus C$39.89 estimated

Fairfax’s EPS was 85.8% above the estimate for the quarter ended September 30, 2026. The company missed estimates in the two previous reported quarters: C$35.53 versus C$42.06 in June, and C$31.11 versus C$36.45 in March. It beat estimates in two of the last four comparable quarters.

Analysis

Fairfax reported calendar EPS of C$74.11 for the period ended September 30, 2026, compared with an estimate of C$39.89. That’s a positive surprise of 85.8%. The supplied earnings data doesn’t include quarterly revenue, margins, or management commentary, so it’s not possible to tell whether underwriting, investment performance, or another factor drove the result.

The recent record puts the beat in context. Fairfax missed estimates in June, reporting C$35.53 against C$42.06, and in March, reporting C$31.11 against C$36.45. In December 2025, it reported C$57.57 against an estimate of C$40.86. That means Fairfax beat estimates in two of the last four comparable quarters, rather than consistently outperforming expectations. The automatically inserted earnings trend table and chart show the figures for each quarter.

Fairfax’s main businesses are property and casualty insurance, reinsurance, and related investment management. Its November 10 announcement that it completed a C$650 million senior notes offering is separate from the earnings report. Fairfax said it may use the proceeds to refinance or repay debt, pursue potential acquisitions or investments, and cover general corporate needs. As of the announcement, it hadn’t named specific uses.

Analysis

The supplied calendar data puts next-quarter EPS consensus at C$32.14, based on one analyst, compared with year-ago EPS of C$52.04. It estimates EPS growth of -23.8%. No revenue consensus is available. With only one analyst contributing, the estimate offers a limited view of Fairfax’s near-term outlook.

At the supplied last close of C$2,773.31, Fairfax traded above its 50-day moving average of C$2,337.84 and its 200-day moving average of C$2,317.10. The share price was also close to the supplied 52-week high of C$2,788.03. These figures describe recent price movements; they don’t predict future earnings or guarantee the trend will continue.

The average analyst price target is C$2,839.04, or 2.4% above the last close. The supplied consensus label is Neutral, based on the average target compared with the last close. A formal rating isn’t available for Canadian listings. See Fairfax analyst ratings for details on the targets.

Analysis

Wealth Awesome’s statistical 90-day price model gives a mean forecast of C$3,315.52. Its 68% range is C$2,688.64 to C$4,088.55, and its 95% range is C$2,180.29 to C$5,041.83. This is a statistical estimate, not financial advice or a promise of performance. The wide ranges show how uncertain the forecast is. See the Fairfax price prediction and the FFH stock page for the supplied company metrics.

Fairfax’s risk disclosures cover issues common to insurers and reinsurers, including higher-than-expected claims, more frequent or severe catastrophes, inadequate reserves, and reinsurance counterparties that fail to pay. Changes in interest rates, foreign exchange rates, equity prices, and credit spreads can also affect results. The latest EPS beat was substantial, but investors should weigh it against these risks and Fairfax’s mixed record of meeting estimates.