Core Points - Crédit Agricole S.A. has completed its share repurchase program, which started on 1 October 2025 and ended on 30 October 2025 [2] - A total of 22,886,191 shares were repurchased at an aggregate cost of 374,414,014 euros [2] - The purpose of the repurchase was to offset the dilutive effect of a capital increase reserved for employees, with the repurchased shares set to be cancelled [3] - The transaction resulted in a decrease of 9 basis points in Crédit Agricole S.A.'s CET1 ratio and a decrease of 6 basis points for the Crédit Agricole group [3] - The execution of the existing liquidity agreement with Kepler Cheuvreux was temporarily suspended during the share repurchase program and will now resume [4]

Core Insights - Arcosa reported revenue of $797.8 million for the quarter ended September 2025, reflecting a year-over-year increase of 24.6% and surpassing the Zacks Consensus Estimate by 2.68% [1] - The company's EPS for the quarter was $1.56, which is an increase from $0.91 in the same quarter last year, resulting in an EPS surprise of 17.29% over the consensus estimate of $1.33 [1] Revenue Breakdown - Construction Products revenue reached $387.5 million, exceeding the average estimate of $386.36 million by analysts, marking a year-over-year increase of 45.7% [4] - Transportation Products generated $99.3 million in revenue, surpassing the average estimate of $93.74 million, with a year-over-year growth of 4.4% [4] - Engineered Structures revenue was reported at $311 million, above the average estimate of $296.88 million, reflecting an 11.3% increase year over year [4] Stock Performance - Over the past month, Arcosa's shares have returned +0.6%, while the Zacks S&P 500 composite has seen a +3.6% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Insights - Arcosa (ACA) reported quarterly earnings of $1.56 per share, exceeding the Zacks Consensus Estimate of $1.33 per share, and showing a significant increase from $0.91 per share a year ago [1][2] - The company achieved revenues of $797.8 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.68% and up from $640.4 million year-over-year [3] Earnings Performance - The earnings surprise for the quarter was +17.29%, and the company has surpassed consensus EPS estimates three times over the last four quarters [2] - In the previous quarter, Arcosa had an earnings surprise of +20.95%, with actual earnings of $1.27 per share compared to an expected $1.05 [2] Revenue Insights - Arcosa's revenue growth reflects a strong performance, having topped consensus revenue estimates two times in the last four quarters [3] - The current consensus EPS estimate for the upcoming quarter is $0.90 on revenues of $727.15 million, while for the current fiscal year, it is $3.99 on revenues of $2.87 billion [8] Market Performance - Arcosa shares have underperformed the market, losing about 3.7% since the beginning of the year, compared to a 17.2% gain in the S&P 500 [4] - The Zacks Industry Rank for Building Products - Miscellaneous places it in the bottom 37% of over 250 Zacks industries, indicating potential challenges ahead [9] Future Outlook - The earnings outlook will be crucial for investors, as it includes current consensus expectations and any recent changes in those expectations [5] - The estimate revisions trend for Arcosa was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market [7]

Financial Performance - Revenues for Q3 2025 reached $797.8 million, a 25% increase from $640.4 million in Q3 2024[3] - Net income surged to $73.0 million, up 340% from $16.6 million in the prior year[3] - Adjusted EBITDA increased by 53% to $174.2 million, with an Adjusted EBITDA margin expansion of 400 basis points to 21.8%[3][4] - Gross profit for Q3 2025 was $191.9 million, up 40.5% from $136.7 million in Q3 2024[26] - Net income for Q3 2025 was $73.0 million, compared to $16.6 million in Q3 2024, representing a 338.6% increase[26] - Adjusted net income for Q3 2025 was $77.3 million, significantly higher than $44.6 million in Q3 2024[31] - Operating profit for Q3 2025 was $112.3 million, a substantial increase from $33.8 million in Q3 2024[26] - Net income for the nine months ended September 30, 2025, was $156.3 million, up from $101.4 million in 2024, representing a 54.1% increase[34] Revenue Guidance - Full year 2025 revenue guidance is set between $2.86 billion and $2.91 billion, with Adjusted EBITDA guidance between $575 million and $585 million[10][9] - The company provided full-year 2025 revenue guidance between $2,860.0 million and $2,910.0 million[34] Segment Performance - The construction products segment reported a 46% revenue increase to $387.5 million, driven by the acquisition of Stavola[15] - Construction Products segment revenues for the three months ended September 30, 2025, were $387.5 million, up from $265.9 million in 2024, marking a 45.7% increase[36] - Engineered Structures segment revenues increased to $311.0 million for the three months ended September 30, 2025, compared to $279.4 million in 2024, a growth of 11.3%[36] - Transportation Products segment revenues for the three months ended September 30, 2025, were $99.3 million, slightly up from $95.1 million in 2024, a 2.2% increase[36] - Aggregates revenues for Q3 2025 reached $218.1 million, a 28% increase from $170.6 million in Q3 2024[38] - Freight-Adjusted Revenues for Construction Products in Q3 2025 were $352.3 million, up 45% from $243.2 million in Q3 2024[39] Cash Flow and Debt - Operating cash flow for Q3 was $160.6 million, an increase of 19% compared to the prior period[19] - Free Cash Flow for Q3 2025 was $134.0 million, a 25% increase from $107.2 million in Q3 2024[41] - The company ended Q3 with a Net Debt to Adjusted EBITDA ratio of 2.4x, improved from 2.8x at the end of Q2 2025[8][19] - Net Debt as of September 30, 2025, was $1,379.4 million, with a Net Debt to Adjusted EBITDA ratio of 2.4[42] Asset Management - Total current assets increased to $1,172.2 million as of September 30, 2025, compared to $954.0 million at the end of 2024[28] - Cash and cash equivalents rose to $220.0 million at the end of Q3 2025, up from $187.3 million at the end of 2024[28] - The backlog for utility and related structures was $461.5 million as of September 30, 2025, compared to $418.3 million a year earlier[27] Capital Expenditures - Capital expenditures for the nine months ended September 30, 2025, were $101.4 million, down from $136.4 million in the same period of 2024[29] Orders and Backlog - The barge business experienced a 22% revenue increase, with a backlog up 16% year-to-date, totaling $325.9 million[19] - The company received new wind tower orders totaling approximately $117 million, enhancing visibility for 2026 and 2027[7] Segment Challenges - Steel Components Adjusted EBITDA for Q3 2025 was $(1.3) million, a decline from $8.0 million in Q3 2024, indicating challenges in this segment[43] - Stavola Adjusted EBITDA for Q3 2025 was $44.5 million, consistent with the previous year, reflecting stable performance in this segment[43] Adjusted Metrics - For the three months ended September 30, 2025, diluted EPS increased to $1.48 from $0.34 in 2024, while adjusted diluted EPS rose to $1.56 from $0.91[32] - Adjusted EBITDA for the three months ended September 30, 2025, was $174.2 million, compared to $114.0 million in 2024, reflecting a 53% increase[36] - Adjusted EBITDA margin for the three months ended September 30, 2025, improved to 21.8% from 17.8% in 2024[34] - The adjusted segment EBITDA margin for Construction Products was 29.7% for the three months ended September 30, 2025, compared to 26.7% in 2024[36] Volume and Pricing - The aggregates business saw total volumes increase by 18% and pricing rise by 9%, leading to a 17% growth in Adjusted Cash Gross Profit per Ton[6][15] - Aggregates shipments increased to 9.9 tons in Q3 2025, compared to 8.4 tons in Q3 2024, indicating a growth in volume[38] - The Aggregates Freight-Adjusted Average Sales Price rose to $18.27 per ton in Q3 2025, up from $16.79 per ton in Q3 2024[38]

Core Insights - Arcosa, Inc. reported a significant increase in revenues for the third quarter of 2025, reaching $797.8 million, which represents a 25% increase compared to $640.4 million in the same period of 2024 [1] Financial Performance - Revenues for the third quarter of 2025 were $797.8 million, up from $640.4 million in 2024, indicating a 25% growth [1] - When excluding the impact of divested businesses, revenues for the third quarter of 2025 were $797.8 million compared to $626.8 million in 2024 [1]

Core Viewpoint - Crédit Agricole S.A. has announced the redemption of its outstanding USD Undated Deeply Subordinated Additional Tier 1 Fixed Rate Resettable Notes, with a total nominal amount of USD 457,689,000 remaining after a previous tender offer [2][3]. Group 1: Redemption Details - The redemption will take effect on December 23, 2025, and will include the outstanding nominal amount along with any accrued interest [2][4]. - The issuer previously repurchased USD 792,311,000 of the Notes through a tender offer conducted on September 2, 2025 [3]. Group 2: Terms and Conditions - On the redemption date, the redemption amount will be due and payable, and the Notes will cease to bear interest unless the redemption amount is improperly withheld [4]. - Holders of the Notes will receive formal notice of the redemption in accordance with the terms and conditions outlined in the original prospectus [4].

Core Insights - Crédit Agricole S.A. reported strong financial results for Q3 2025, with net income group share increasing by 10.2% year-on-year to €1,836 million, driven by high revenues and a controlled cost of risk [32][40][44] - The group achieved revenues of €9,731 million in Q3 2025, reflecting a 5.6% increase compared to Q3 2024, with a gross operating income of €3,944 million, up 8.9% [18][33] - The cost/income ratio improved to 59.5%, down 1.2 percentage points from the previous year, indicating better operational efficiency [18][35] Financial Performance - For Q3 2025, Crédit Agricole S.A. reported revenues of €6,850 million, a 5.6% increase from Q3 2024, with operating expenses rising by 4.0% to €3,837 million [33][34] - The gross operating income for the quarter was €3,013 million, up 7.7% year-on-year, while the cost of risk increased by 13.0% to €489 million [35][37] - In the first nine months of 2025, net income group share reached €7,120 million, a 9.7% increase compared to the same period in 2024 [21][40] Business Lines and Activity - The group experienced sustained activity across all business lines, with significant growth in home loans (+18% year-on-year) and corporate loans (+14% year-on-year) [7][10] - Asset management saw record inflows of €15 billion in Q3 2025, contributing to a total of €2,317 billion in assets under management [11][52] - The insurance segment reported strong performance, with revenues reaching €11.8 billion, up 21.4% compared to Q3 2024 [46][62] Customer Growth and Market Position - Crédit Agricole Group gained 522,000 new customers in Retail Banking during Q3 2025, with total on-balance sheet deposits amounting to €835 billion, reflecting a 0.6% year-on-year increase [10][27] - The group maintained a strong market share in credit, standing at 22.6% as of June 2025, with buoyant loan production driven by home loans and specialized markets [27][10] Risk Management and Solvency - The phased-in CET1 ratio for Crédit Agricole S.A. was reported at 11.7%, while the group’s CET1 ratio stood at 17.6%, indicating strong solvency [3] - The cost of risk for the group was stable at 27 basis points over a rolling four-quarter period, reflecting prudent risk management practices [19][24]

Core Viewpoint - The market anticipates Arcosa (ACA) will report a year-over-year increase in earnings driven by higher revenues when it releases its quarterly results for the period ending September 2025 [1] Earnings Expectations - Arcosa is expected to post quarterly earnings of $1.29 per share, reflecting a year-over-year increase of +41.8% [3] - Revenues are projected to reach $778.3 million, which is a 21.5% increase from the same quarter last year [3] Estimate Revisions - The consensus EPS estimate has been revised 1.19% higher in the last 30 days, indicating a collective reassessment by analysts [4] - The Most Accurate Estimate for Arcosa matches the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [12] Earnings Surprise Prediction - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [10] - Arcosa currently holds a Zacks Rank of 3, making it challenging to predict a definitive earnings beat [12] Historical Performance - In the last reported quarter, Arcosa exceeded the expected earnings of $1.05 per share by delivering $1.27, resulting in a surprise of +20.95% [13] - Over the past four quarters, Arcosa has surpassed consensus EPS estimates three times [14] Industry Comparison - Another company in the Zacks Building Products - Miscellaneous industry, Masco (MAS), is expected to report earnings of $1.02 per share, indicating a year-over-year decline of -5.6% [18] - Masco's revenues are anticipated to be $1.94 billion, down 2.3% from the previous year [19]

Core Points - Arcosa, Inc. will release its third-quarter results for the period ending September 30, 2025, after market close on October 30, 2025 [1] - An earnings call to discuss the results is scheduled for 8:30 a.m. Eastern Time on October 31, 2025 [1] - The earnings call will be accessible via webcast and slide presentation [1]

Industry Overview - The Zacks Building Products - Miscellaneous industry is facing challenges due to tariffs, rising input and labor costs, and persistent inflation, which have slowed commercial activity and created affordability issues in housing [1][4][6] - Supply-chain disruptions and high energy expenses are contributing to these pressures, with mortgage rates remaining above 6%, limiting demand as homeowners retain low-rate mortgages [1][6] Long-term Prospects - Despite current challenges, long-term growth prospects are supported by federal investments in infrastructure, global supply-chain reinvestment, and energy transition efforts [2][7] - Companies are focusing on efficiency through cost-saving initiatives, digital solutions, and acquisitions to capitalize on these positive trends [2][9] Industry Trends - Tariff policies are reshaping the industry by increasing costs and disrupting supply chains, leading to heightened inflation and challenges for builders and consumers [4] - Rising costs related to transportation, materials, and labor are compressing margins and affecting operating performance, with companies struggling to recover these costs through price increases [5][6] Market Performance - The Zacks Building Products - Miscellaneous industry has underperformed the broader Zacks S&P 500 Composite and the construction sector over the past year, losing 8% compared to the sector's 4% decrease and the S&P 500's gain of 18.4% [10][14] - The industry's current valuation is at a forward P/E of 18.29X, lower than the S&P 500's 23.53X and the sector's 19.76X [17] Company Highlights - **Everus Construction Group, Inc. (ECG)**: Positioned for growth with a record backlog of $3 billion, up 24% year-over-year, driven by demand in data centers and infrastructure modernization [22][23] - **Armstrong World Industries, Inc. (AWI)**: Benefiting from strong execution in its segments, with earnings estimates for 2025 increasing to $7.27 per share, indicating 15.2% year-over-year growth [26][27] - **Frontdoor, Inc. (FTDR)**: Experiencing growth through effective marketing and new programs, with earnings estimates for 2025 rising to $3.90 per share, reflecting 16.4% year-over-year growth [28][31] - **Arcosa, Inc. (ACA)**: Growth driven by strong demand and strategic acquisitions, with earnings estimates for 2025 increasing to $3.90 per share, indicating 29.1% year-over-year growth [34][35]