Financial Performance - Total orders for the third quarter of 2025 reached $8.2 billion, a 17% sequential increase and a 23% year-over-year increase, including $4.1 billion in IET orders[5] - Revenue for the quarter was $7.0 billion, reflecting a 1% increase both sequentially and year-over-year[20] - Attributable net income was $609 million, down 13% sequentially and 20% year-over-year[21] - Adjusted EBITDA for the quarter was $1,238 million, up 2% sequentially and year-over-year[23] - Remaining Performance Obligations (RPO) totaled $35.3 billion, an increase of $1.3 billion from the previous quarter, with IET RPO at a record $32.1 billion[25] - OFSE orders for Q3 2025 reached $4,068 million, an increase of $565 million, or 16% sequentially[30] - OFSE revenue for Q3 2025 was $3,636 million, up $18 million, or 1% sequentially, but down $327 million, or 8% year-over-year[30] - IET orders for Q3 2025 totaled $4,139 million, an increase of $1,271 million, or 44% year-over-year[34] - IET revenue for Q3 2025 was $3,374 million, an increase of $429 million, or 15% year-over-year[35] - Adjusted net income attributable to Baker Hughes for Q3 2025 was $678 million, with adjusted earnings per share of $0.68[41] - Revenue for Q3 2025 was $7,010 million, a slight increase of 1.5% compared to $6,908 million in Q3 2024[10] - Net income attributable to Baker Hughes Company for Q3 2025 was $609 million, down 20.5% from $766 million in Q3 2024[10] - Basic income per Class A common stock decreased to $0.62 in Q3 2025 from $0.77 in Q3 2024, representing a decline of 19.5%[10] Cash Flow and Assets - Cash flow from operating activities was $929 million, with free cash flow at $699 million for the quarter[26] - Free cash flow for Q3 2025 was $239 million, down from $699 million in Q2 2025[42] - Total current assets increased to $17,529 million as of September 30, 2025, compared to $17,211 million at the end of 2024, reflecting a growth of 1.8%[46] - Cash and cash equivalents decreased to $2,693 million at the end of Q3 2025 from $3,364 million at the end of 2024, a decline of 19.9%[46] - Net cash flows provided by operating activities for the nine months ended September 30, 2025, were $2,148 million, slightly up from $2,142 million in the same period of 2024[48] - The company reported net cash used in investing activities of $1,651 million for the nine months ended September 30, 2025, compared to $799 million in the same period of 2024[48] - Dividends paid in Q3 2025 amounted to $227 million, an increase from $628 million in Q3 2024[48] Acquisitions and Strategic Initiatives - The company announced its intent to acquire Chart Industries, Inc. for approximately $13.6 billion, enhancing its portfolio in high-growth markets[8] - Baker Hughes completed the acquisition of Continental Disc Corporation, expected to expand its position in flow and pressure control markets[9] - The company expects full-year orders to exceed prior midpoint estimates, driven by strong visibility on expected awards in the fourth quarter[4] Market Performance - North America revenue for OFSE was $980 million, up $52 million, or 6% sequentially[31] - International revenue for OFSE was $2,656 million, down $34 million, or 1% sequentially[31] Future Outlook - The company has scheduled an investor conference call for October 24, 2025, to discuss management's outlook and results[50] - Baker Hughes continues to focus on innovative technologies and services to enhance energy efficiency and sustainability[54]

Financial Performance - Net income for Q3 2025 was $14.7 million, or $0.24 per diluted share, representing a 130% increase from $6.4 million and a 140% increase from $0.10 in Q2 2025[2][5] - Total revenue for Q3 2025 was $50.0 million, a 5% increase from $47.8 million in Q2 2025 and a 19% increase from $42.2 million in Q3 2024[4][8] - Noninterest income for Q3 2025 increased by 8% to $3.2 million compared to $3.0 million in Q2 2025, and by 14% from $2.8 million in Q3 2024[12] - Net income for Q3 2025 reached $14,698,000, a 130% increase from Q2 2025 and a 40% increase from Q3 2024[54] - Basic earnings per share for Q3 2025 was $0.24, a 140% increase from Q2 2025 and a 41% increase from Q3 2024[54] - Total revenue for the nine months ended September 30, 2025, was $143,843,000, a 14% increase compared to the same period in 2024[54] - Reported net income (GAAP) for Q3 2025 was $14,698,000, up from $10,507,000 in Q3 2024, representing a 39.5% increase[81] - Adjusted net income (non-GAAP) for Q3 2025 was $14,698,000, compared to $10,507,000 in Q3 2024, reflecting a 39.5% year-over-year growth[81] Asset and Deposit Growth - Total assets increased by 3% to $5.6 billion at September 30, 2025, compared to $5.5 billion at June 30, 2025, driven by an increase in deposits and loans[25] - Total deposits rose by $149.2 million, or 3%, to $4.8 billion at September 30, 2025, compared to $4.6 billion at June 30, 2025[33] - Total assets as of September 30, 2025, were $5,623,720,000, compared to $5,467,237,000 in the previous quarter[58] - Total deposits increased to $4,687,294,000, with an average interest rate of 1.50%, compared to $4,618,007,000 and 1.54% in the previous quarter[67] - Total deposits reached $4.674 billion as of September 30, 2025, compared to $4.427 billion as of September 30, 2024, representing an increase of 5.6%[75] Loan and Credit Quality - Loans held-for-investment increased by $47.3 million, or 1%, to $3.6 billion in Q3 2025, while total deposits rose by $149.2 million, or 3%, to $4.8 billion[4][3] - The provision for credit losses on loans was $416,000 in Q3 2025, down from $516,000 in Q2 2025 and up from $153,000 in Q3 2024[17] - The allowance for credit losses on loans was $49.4 million, or 1.38% of total loans, at September 30, 2025, consistent with the previous quarter[38] - Nonperforming loans decreased by 41% year-over-year to $3,662,000 from $6,178,000[63] - The allowance for credit losses on loans to total loans ratio remained stable at 1.38%[64] Efficiency and Profitability Metrics - The efficiency ratio improved to 58.05%, a decrease of 5% from 61.01% in Q2 2025 and an 11% decrease from 65.37% in Q3 2024[4] - The annualized return on average tangible common equity was 11.14% for Q3 2025, an increase of 12% from the previous quarter[6][4] - The annualized return on average equity improved to 8.37%, a 127% increase from Q2 2025 and a 36% increase from Q3 2024[54] - The reported efficiency ratio (noninterest expense divided by total revenue) for the nine months ended September 30, 2025, was 67.31%, compared to 66.08% in 2024[85] - The adjusted efficiency ratio for the nine months ended September 30, 2025, was 60.92%, compared to 66.08% in 2024, showing improved operational efficiency[85] Shareholder Equity and Capital - Total shareholders' equity was $700.0 million, reflecting an increase of $5.3 million from the previous quarter[4] - Total common equity as of September 30, 2025, was $700,010,000, up from $685,352,000 as of September 30, 2024, an increase of 2.1%[79] - Tangible common equity increased by 1% to $527,301,000 from $521,541,000[64] - Total capital ratio slightly decreased to 15.4% from 15.5%[64] - The Company approved an increase in its share repurchase program from $15 million to $30 million, with a remaining capacity of $26 million as of September 30, 2025[40][42]

Revenue Performance - Revenue from product sales increased by AUD$7.9 million or 23.6% to AUD$41.7 million for the twelve-month period ended June 30, 2025, compared to AUD$33.7 million for the same period in 2024[160] Cash Position - Cash and cash equivalents totaled AUD$2,309,303 as of June 30, 2025, up from AUD$514,140 as of June 30, 2024[261] Foreign Currency and Legacy Costs - Foreign currency payments related to EDOC legacy costs totaled $3,013,604 for the year ended June 30, 2025, significantly up from $28,097 for the year ended June 30, 2024[263] - The Company does not have significant exposure to foreign currency risk, except for certain transactions denominated in currencies other than the functional currency[171] Accounts Receivable - As of June 30, 2025, three customers accounted for 50.5% of the Company's accounts receivable balance, while three customers accounted for more than 60.7% of the accounts receivable balance as of June 30, 2024[267] Financial Arrangements and Risks - The Company had no off-balance sheet arrangements as of June 30, 2025[167] - The Company was not exposed to material risks due to changes in market interest rates given the liquidity of cash and investments[261] Credit Policies - The Company believes its credit policies are prudent, requiring payment from zero to 90 days from the invoice date, with typical terms of 30 days[174] Stock-Based Compensation - The assumptions used in calculating the fair value of stock-based compensation awards involve inherent uncertainties, which could lead to materially different expenses in the future[162] Share Capital - The Company has authorized 555,000,000 shares, including 500,000,000 Class A Ordinary Shares[161]

Financial Performance - Railway operating revenues for Q3 2025 were $3,103 million, a 2% increase from $3,051 million in Q3 2024[110] - Railway operating expenses rose to $2,005 million in Q3 2025, a 38% increase compared to $1,455 million in Q3 2024[110] - Net income for Q3 2025 decreased to $711 million, down 35% from $1,099 million in Q3 2024[110] - Diluted earnings per share for Q3 2025 were $3.16, a 35% decline from $4.85 in Q3 2024[110] - The operating ratio for Q3 2025 was 64.6%, significantly higher than 47.7% in Q3 2024, indicating increased operating expenses[110] - For the first nine months of 2025, railway operating revenues reached $9,206 million, a 1% increase from $9,099 million in the same period of 2024[110] - Net income for the first nine months of 2025 was $2,229 million, an 18% increase from $1,889 million in the first nine months of 2024[110] - The adjusted operating ratio for Q3 2025 improved to 63.3% from 63.4% in Q3 2024[114] - Adjusted net income for the first nine months of 2025 was $2,091 million, a 5% increase compared to $1,996 million in 2024[116] Revenue Breakdown - Merchandise revenues rose by 6% in the third quarter and 3% in the first nine months, driven by higher volume and increased average revenue per unit[118] - Intermodal revenues decreased by 1% in the third quarter but increased for the first nine months, attributed to higher volumes[125] - Coal revenues declined by 12% in the third quarter and 7% in the first nine months due to lower average revenue per unit and adverse mix[118] - Railway operating revenues increased by $52 million (2%) in the third quarter and $107 million (1%) in the first nine months of 2025 compared to the same periods in 2024[119] - Average revenue per unit for merchandise increased by 1% in the third quarter and remained flat in the first nine months[118] Expenses and Costs - Compensation and benefits expenses increased by 7% in the third quarter and 2% in the first nine months, totaling $2,169 million[129] - Fuel expenses rose by 10% in the third quarter but decreased by 8% in the first nine months, with locomotive fuel prices increasing by 11% in the third quarter[133] - Materials expense rose due to higher intermodal and engineering material consumption, with locomotive material consumption also increasing in the third quarter[136] - Total railway operating expenses for the first nine months of 2025 decreased by 6% to $5,787 million from $6,159 million in 2024[129] - Incentive and stock-based compensation increased by $52 million for the quarter and $105 million for the first nine months[135] Strategic Developments - The company entered into a Merger Agreement with Union Pacific on July 28, 2025, aiming to create America's first transcontinental railroad[109] - The absence of $380 million in gains from the sale of railway lines in 2024 significantly impacted the financial results comparison[109] - Gains from the sale of railway lines in Virginia and North Carolina totaled $380 million in 2024, with significant land sales expected to drive future traffic volumes[137] Cash Flow and Capitalization - Cash provided by operating activities was $3.3 billion for the first nine months of 2025, up from $3.1 billion in the same period of 2024[144] - Cash used in investing activities decreased to $1.9 billion for the first nine months of 2025, down from $2.8 billion in the prior year[145] - Cash used in financing activities increased to $1.6 billion for the first nine months of 2025, compared to $903 million in the same period last year[146] - The debt-to-total capitalization ratio improved to 53.0% at September 30, 2025, from 54.6% at December 31, 2024[152] Tax and Compliance - The effective tax rate for both the third quarter and first nine months of 2025 was 23.1%, compared to 23.0% and 21.3% for the same periods last year[142] - The company has not identified any changes in internal control over financial reporting that have materially affected its internal control during Q3 2025[164] - As of September 30, 2025, the company's disclosure controls and procedures were effective in alerting management to material information required for periodic filings[163] Share Repurchase - The company has $6.3 billion authorized for future share repurchase activity, although repurchases are currently suspended due to the Merger Agreement[146] Restructuring Charges - Restructuring and other charges amounted to $12 million in the third quarter of 2025, compared to $60 million in 2024[139]

Financial Performance - In Q3 2025, new home deliveries were 1,217, with an average sales price of $672,000, resulting in a 27% decrease in home sales revenue to $817.3 million[136] - Net income available to common stockholders declined by 50% to $56.1 million, with diluted earnings per share decreasing by 46% to $0.64[136] - The total revenues for the nine months ended September 30, 2025, were $2.44 billion, down from $3.19 billion in the same period of 2024[139] - Home sales revenue fell by $296.4 million to $817.3 million for the three months ended September 30, 2025, primarily due to a 402-unit decrease in new homes delivered[145] - Home sales revenue decreased by $747.1 million to $2.4 billion for the nine months ended September 30, 2025, primarily due to a 1,129-unit decrease in new homes delivered[161] Orders and Backlog - Net new home orders for Q3 2025 decreased by 21% to 995, attributed to a 22% decrease in monthly absorption rates[140] - The backlog units at the end of the quarter stood at 1,298, with a dollar value of $1.0 billion[137] - Backlog units decreased by 44% to 1,298 as of September 30, 2025, with a dollar value of backlog at $1.0 billion, down from $1.7 billion a year earlier[143] - Net new home orders decreased by 1,353 units, or 29%, to 3,364 for the nine months ended September 30, 2025, compared to 4,717 in the prior-year period[159] Market Segments - The West segment experienced a 27% decrease in net new home orders, while the Central segment saw a 20% decrease[142] - The East segment reported a 2% increase in net new home orders, driven by a 26% increase in average selling communities[142] - The average selling communities increased by 1% despite the overall decrease in net new home orders[140] Expenses and Margins - Homebuilding gross margin percentage decreased to 20.6% for the three months ended September 30, 2025, down from 23.3% in the prior-year period[148] - Homebuilding gross margin percentage decreased to 21.7% for the nine months ended September 30, 2025, down from 23.3% in the prior-year period[165] - Total sales and marketing and general and administrative expenses decreased by $15.3 million to $105.2 million, with total SG&A as a percentage of home sales revenue increasing to 12.9%[151] - Total sales and marketing and general and administrative expenses decreased by $15.3 million to $316.8 million, but as a percentage of home sales revenue, it increased to 13.1% from 11.0%[167] Financing and Debt - The homebuilding debt-to-capital ratio was 25.1%, indicating a strong balance sheet to support growth initiatives[137] - The ratio of homebuilding debt-to-capital increased to 25.1% as of September 30, 2025, up from 21.6% at December 31, 2024[192] - Interest incurred for financing land acquisitions and home construction totaled $20.0 million for the three months ended September 30, 2025, down from $25.3 million in the prior year[154] - Interest incurred for financing land acquisitions and home construction totaled $61.6 million for the nine months ended September 30, 2025, down from $91.8 million in the prior-year period[170] - The company had $450 million of outstanding debt under the Term Facility with an interest rate of 5.32% as of September 30, 2025[185] Cash Flow and Liquidity - As of September 30, 2025, total liquidity was $1.6 billion, consisting of cash and cash equivalents of $792.0 million and $791.0 million available under the Credit Facility[176] - Net cash provided by operating activities decreased by $395.3 million to cash used of $59.6 million for the nine months ended September 30, 2025 compared to the prior-year period[194] - Net cash used in financing activities was $74.0 million for the nine months ended September 30, 2025, compared to $503.0 million in the prior-year period[194] Shareholder Actions - The company repurchased and retired 6,975,460 shares of common stock for $225.9 million during the nine months ended September 30, 2025[190] Financial Services - Income before income taxes from financial services operations decreased to $4.1 million for the three months ended September 30, 2025, compared to $5.4 million for the prior-year period[157] - The financial services segment reported income before income taxes of $13.4 million for the nine months ended September 30, 2025, down from $15.9 million in the prior-year period[173] - Total mortgage loan originations increased to 703 loans with a principal amount of $371.6 million for the three months ended September 30, 2025, compared to 430 loans totaling $209.2 million a year earlier[158] - The average FICO score for loans originated was 757, slightly down from 759 in the prior year[158] Market Conditions - Inflation in the United States has remained moderate through the first half of 2025, but elevated compared to the Federal Reserve's target, impacting construction costs and consumer demand[200] - The future path of Federal Reserve policy remains uncertain, which may further influence inflation and mortgage rates, affecting homebuyer affordability[200] - Seasonal variations affect the company's quarterly operating results, with typically more home orders in the first half of the fiscal year[201] Land and Options Management - The company employs land banking arrangements and option contracts to manage financial and market risks associated with land holdings[196] - The company may face challenges in procuring options from land sellers in strong housing markets, affecting its land acquisition strategy[196] - Lots owned decreased by 1,109 units, or 6%, to 16,044 as of September 30, 2025, compared to 17,153 in the prior-year period[175] - Total lots owned or controlled decreased by 750 units, or 2%, to 32,738 as of September 30, 2025, compared to 33,488 in the prior-year period[175] Compliance and Accounting - As of September 30, 2025, the company was in compliance with all financial covenants under the Credit Facility[189] - There have been no significant changes to the company's critical accounting policies and estimates during the nine months ended September 30, 2025[202] - The company did not utilize any derivative financial instruments related to interest rates or commodities during the nine months ended September 30, 2025[204]

Financial Performance - Carpenter Technology reported record quarterly operating income of $153.3 million, a 31% increase year-over-year[2] - Earnings per diluted share for the quarter were $2.43, compared to $1.67 in the same quarter last year[9] - Net income for the three months ended September 30, 2025, was $122.5 million, up from $84.8 million in the same period of 2024, representing a 44.4% increase[21] - Operating income for the consolidated entity rose to $153.3 million, compared to $113.6 million in the previous year, marking a 35% increase[25] - Adjusted earnings for the three months ended September 30, 2024, were reported at $104.7 million, with an adjusted earnings per diluted share of $1.73[34] - The company reported a net income of $84.8 million for the quarter, adjusted for special items[34] Sales and Revenue - Consolidated net sales for the same period were $733.7 million, compared to $717.6 million in 2024, reflecting a 2.8% growth[25] - Specialty Alloys Operations net sales were $659.6 million, an increase from $645.1 million in the prior year, while Performance Engineered Products net sales decreased to $93.6 million from $100.8 million[25] - The aerospace and defense sector saw net sales of $388.3 million, up from $349.9 million, while the medical sector decreased to $61.6 million from $73.4 million[38] - Surcharge revenue for the three months ended September 30, 2024, was $130.6 million, down from $140.2 million in the previous year[38] Operational Highlights - The Specialty Alloys Operations segment achieved operating income of $170.7 million, up 27% year-over-year, with an adjusted operating margin of 32.0%, up from 26.3%[2] - Bookings for the Aerospace and Defense end-use market increased by 23% sequentially, reflecting strong demand[4] - Adjusted operating margin excluding surcharge revenue improved to 25.4% from 20.3% year-over-year[31] Cash Flow and Liquidity - Projected adjusted free cash flow for FY2026 is between $240 million and $280 million, net of $175 million to $185 million in capital expenditures related to brownfield expansion[5] - The company generated $39.2 million in net cash operating activities, with adjusted free cash flow reflecting a significant investment in capital equipment and acquisitions[36] - The adjusted free cash flow for the period was $13.3 million, reflecting a strategic focus on cash generation[36] - Total liquidity at the end of Q1 FY2026 was $556.9 million, consisting of $208 million in cash and $348.9 million in available borrowings[12] Capital Expenditures and Investments - Capital expenditures for Q1 FY2026 were $42.6 million, up from $26.9 million in the same quarter last year, primarily due to brownfield expansion[10] - The company plans to utilize excess cash for investments, acquisitions, and a share repurchase program of up to $400 million[36] Shareholder Returns - The company executed $49.1 million in share repurchases during the quarter, with $249 million remaining under the authorized repurchase program[11] - The company paid dividends of $10.1 million and repurchased treasury stock worth $49.1 million during the quarter[21] Balance Sheet - Cash and cash equivalents at the end of the period were $208.0 million, down from $315.5 million at the beginning of the year[23] - Total assets decreased to $3,402.2 million from $3,486.8 million in the previous quarter[23] - Total liabilities reduced to $1,491.0 million from $1,599.8 million, indicating a decrease in financial obligations[23]

Financial Performance - Earnings per share for Q3 2025 were $1.37, or $1.55 excluding special items, setting a record for the third quarter [2]. - Worldwide net sales for Q3 2025 were $532 million, up 1% sequentially and year over year [3]. - Operating income for Q3 2025 was $71 million, or $78 million excluding special items, down 1% sequentially and year over year [3]. - Total net income attributable to Minerals Technologies Inc. was $43 million, down 5% from the prior quarter [14]. - Net income attributable to MTI for Q3 2025 was $43.0 million, representing 8.1% of sales, compared to $45.4 million (8.6%) in Q2 2025 and $46.7 million (8.9%) in Q3 2024 [16]. - Adjusted EBITDA for Q3 2025 was $100.3 million, with a margin of 18.8%, compared to $99.1 million (18.7%) in Q2 2025 and $99.2 million (18.9%) in Q3 2024 [21]. - MTI Consolidated operating income for Q3 2025 was $70.9 million, reflecting a 5% decrease from Q2 2025 and a 7% decrease from Q3 2024 [25]. Cash Flow and Dividends - Cash flow from operations was $71 million, with free cash flow of $44 million in Q3 2025 [3]. - Free cash flow for Q3 2025 was $43.6 million, up from $33.8 million in Q2 2025 and $35.3 million in Q3 2024 [20]. - Cash dividends declared per common share were $0.11, consistent with the previous quarter [14]. Segment Performance - Consumer & Specialties segment sales were $277 million, flat sequentially, with Household & Personal Care product line sales increasing by 2% to $130 million [4]. - Engineered Solutions segment sales increased by 2% sequentially to $255 million, with Environmental & Infrastructure product line sales rising by 5% to $76 million [6]. - Segment operating income for Engineered Solutions was $45 million, with an operating margin of 17.6%, a record for the segment [7]. - Consumer & Specialties Segment operating income for Q3 2025 was $37.4 million, a 10% increase from Q2 2025 but a 10% decrease from Q3 2024 [25]. - Engineered Solutions Segment operating income for Q3 2025 was $44.8 million, a 4% decrease from Q2 2025 and a 15% increase from Q3 2024 [25]. - Non-GAAP operating income for Consumer & Specialties Segment was $37.4 million in Q3 2025, unchanged from Q2 2025 [26]. - MTI Consolidated non-GAAP operating income for the nine months ended September 28, 2025, was $220.6 million, a 9% decrease from the same period in 2024 [26]. Market Contribution - The U.S. market contributed $273.3 million (51% of total sales) in Q3 2025, while international sales were $259.1 million (49%), reflecting a 5% growth compared to Q2 2025 [23]. - The Household & Personal Care segment generated $129.8 million in Q3 2025, a 2% increase from $127.4 million in Q2 2025 [23]. Strategic Initiatives - The company is making strategic investments in Household & Personal Care to drive growth in the near- and long-term [4]. - The company initiated a cost savings program in Q1 2025, incurring a $5.5 million charge related to severance and other costs [19]. - The company recorded a $5.8 million charge in Q2 2025 for restructuring and other items related to the consolidation of two facilities [17]. Balance Sheet - Total current assets increased to $1,173.3 million as of September 28, 2025, compared to $1,131.0 million as of December 31, 2024 [28]. - Accounts receivable, net, rose to $413.4 million as of September 28, 2025, up from $385.2 million as of December 31, 2024 [28]. - Total liabilities increased to $1,749.3 million as of September 28, 2025, compared to $1,610.7 million as of December 31, 2024 [28]. - Total assets reached $3,458.8 million as of September 28, 2025, compared to $3,393.9 million as of December 31, 2024 [28]. Upcoming Events - The analyst conference call to discuss Q3 2025 operating results is scheduled for October 24, 2025 [22].

Financial Performance - Net income for Q3 2025 was $5.0 million, a decrease of $1.4 million or 21.3% from Q2 2025 and a decrease of $1.0 million or 16.8% from Q3 2024[1][2] - Net interest income increased by $248,000, or 1.1%, to $23.4 million in Q3 2025 compared to $23.2 million in Q2 2025[6] - Noninterest income increased by $736,000, or 48.6%, to $2.2 million in Q3 2025 compared to $1.5 million in the prior quarter, but decreased by $496,000, or 18.1%, from $2.7 million in Q3 2024[20] - Noninterest expense rose by $192,000, or 1.2%, to $15.9 million in Q3 2025 compared to $15.8 million in Q2 2025, and decreased by $128,000, or 0.8%, from $16.1 million in Q3 2024[20] - Basic net income per common share for the three months ended September 30, 2025, was $0.46, compared to $0.54 for the same period in 2024, a decline of 14.81%[46] - Comprehensive income for the three months ended September 30, 2025, was $7,167,000, slightly up from $7,153,000 for the same period in 2024, an increase of 0.20%[46] Asset and Loan Management - Total assets remained steady at $2.6 billion as of September 30, 2025, consistent with both June 30, 2025, and September 30, 2024[5] - Loans totaled $2.0 billion at September 30, 2025, unchanged from June 30, 2025, and up from $1.9 billion at September 30, 2024[5] - Loans totaled $2.0 billion at September 30, 2025, an increase of $42.1 million from June 30, 2025, and $130.2 million from September 30, 2024[24] - Total loans as of September 30, 2025, were $2,041,683, an increase from $1,999,624 as of June 30, 2025[50] Credit Losses and Provisions - The allowance for credit losses for loans was $20.8 million, or 1.02% of total loans, as of September 30, 2025, compared to $18.7 million or 0.93% at June 30, 2025[10] - The company recorded a provision for credit losses of $2.9 million in Q3 2025, compared to $203,000 in Q2 2025 and $1.2 million in Q3 2024[10] - Provision for credit losses increased significantly to $2,973,000 for the three months ended September 30, 2025, compared to $203,000 for the previous quarter, indicating a rise in credit risk[46] - Nonperforming loans decreased to $13.9 million, or 0.68% of total loans, at September 30, 2025, down from $16.4 million, or 0.82%, at June 30, 2025[25] Deposits and Equity - Deposits totaled $2.2 billion at September 30, 2025, consistent with June 30, 2025, and up from $2.1 billion at September 30, 2024[10] - Deposits increased by $41.4 million, or 1.9%, to $2.2 billion at September 30, 2025, compared to $2.2 billion at June 30, 2025, and increased by $91.6 million, or 4.3%, from $2.1 billion at September 30, 2024[32] - Shareholders' equity rose to $334.3 million at September 30, 2025, compared to $330.6 million at June 30, 2025, driven by net income of $5.0 million[37] Interest and Yield - The annualized net interest margin for Q3 2025 was 3.72%, down from 3.77% in Q2 2025 and 3.73% in Q3 2024[5][18] - The average yield on loans increased to 5.76% in Q3 2025, compared to 5.63% in Q2 2025 and 5.53% in Q3 2024[11][18] - Total interest income for the three months ended September 30, 2025, was $34,950,000, an increase from $33,426,000 for the same period in 2024, representing a growth of 4.56%[46] Tax and Returns - The effective tax rate for Q3 2025 was 25.7%, down from 27.0% in the prior quarter and 27.4% in Q3 2024[23] - Return on average assets decreased to 0.75% for the three months ended September 30, 2025, from 0.98% for the three months ended June 30, 2025[50] Share Repurchase and Stock Performance - The company repurchased 33,300 shares of common stock at an average cost of $27.29 per share during Q3 2025[10] - The weighted average shares used to compute net income per common share for the three months ended September 30, 2025, was 10,929,779, a decrease from 11,148,482 for the same period in 2024[46] Equity and Book Value - Total equity and common shareholders' equity (GAAP) increased to $334,269 million in September 2025 from $321,681 million in September 2024, reflecting a year-over-year growth of 3.5%[54] - Book value per share (GAAP) increased to $30.62 in September 2025, compared to $28.90 in September 2024, representing a growth of 5.9%[54] - Tangible book value per share (Non-GAAP) rose to $26.88 in September 2025, up from $25.14 in September 2024, reflecting a year-over-year increase of 6.9%[54]

Financial Performance - Primis Financial Corp. reported net income of $7 million, or $0.28 per diluted share, for Q3 2025, a significant increase from $1 million, or $0.05 per diluted share, in Q3 2024[2]. - For the nine months ended September 30, 2025, net income available to common shareholders was $32 million, or $1.29 per diluted share, compared to $7 million, or $0.29 per diluted share, for the same period in 2024[3]. - Net income attributable to Primis' common shareholders for Q3 2025 was $6,830,000, compared to $2,437,000 in Q2 2025, showing a significant increase[48]. - Non-GAAP adjusted net income for Q3 2025 was $6,830,000, a recovery from a loss of $3,222,000 in Q2 2025[48]. - Net income attributable to common shareholders for Q3 2025 was $6,830 thousand, compared to a loss of $(26,155) thousand in Q2 2025, marking a significant turnaround[43]. Revenue and Income - Total revenue, excluding gains from the sale of Panacea Financial Holdings, increased by $5 million quarter-over-quarter, while expenses rose by only $400 thousand[5]. - Noninterest income rose to $12 million in Q3 2025, compared to $9 million in Q3 2024, with mortgage-related income growing 31%[15]. - Noninterest income for Q3 2025 was $11,969 thousand, a decrease of 33.8% from $18,030 thousand in Q2 2025[43]. - Net interest income for Q3 2025 was $29,032 thousand, an increase of 7% compared to $25,180 thousand in Q2 2025[42]. Loan and Deposit Growth - Primis Mortgage closed mortgage volume of $308 million in Q3 2025, a 34% increase compared to Q3 2024, with pre-tax earnings of approximately $1.9 million[7]. - Mortgage warehouse lending activity saw outstanding loan balances of $327 million, up 77% from $185 million at June 30, 2025, and up 411% from $64 million at December 31, 2024[8]. - Panacea Financial reported loans outstanding of $548 million, a 40% increase compared to Q3 2024, with customer deposits totaling $133 million, up 47%[9]. - Total loans held for investment increased to $3.2 billion at September 30, 2025, up from $3.1 billion at June 30, 2025 and $3.0 billion at September 30, 2024[22]. - Total deposits were flat at $3.3 billion at September 30, 2025, with noninterest bearing demand deposits growing by 16% to $490 million[25]. Asset Quality and Credit Losses - Nonperforming assets were 2.07% of total assets at September 30, 2025, compared to 1.90% at June 30, 2025, primarily due to one downgraded commercial loan[22]. - The Company recorded a recovery of credit losses of $49 thousand for the third quarter of 2025, compared to a provision for credit losses of $8 million in the previous quarters[24]. - The allowance for credit losses was 1.40% of loans held for investment at the end of the third quarter of 2025, down from 1.72% a year earlier[24]. - Net charge-offs as a percent of average loans (annualized) decreased to 0.14% in Q3 2025 from 0.80% in Q2 2025[38]. Efficiency and Ratios - Return on average assets for Q3 2025 was 0.70%, up from 0.26% in Q2 2025[37]. - Efficiency ratio for Q3 2025 was 78.81%, up from 73.92% in Q2 2025[37]. - Common equity to assets ratio for Q3 2025 was 9.66%, slightly down from 9.72% in Q2 2025[38]. - Total risk-based capital ratio for Q3 2025 was 12.02%, down from 12.43% in Q2 2025[38]. Future Outlook - Future outlook indicates a focus on market expansion and new product development[47].

Financial Performance - Newmont Corporation reported Q3 2025 sales of $5,524 million, a 20% increase from $4,605 million in Q3 2024[10] - Net income from continuing operations for Q3 2025 was $1,843 million, compared to $875 million in Q3 2024, reflecting a 110% increase[10] - Adjusted EBITDA for the nine months ended September 30, 2025, was $10,148 million, significantly higher than $4,692 million for the same period in 2024[10] - Free cash flow for Q3 2025 was $4,486 million, compared to $1,280 million in Q3 2024, indicating a substantial increase[10] - Reported net income of $1,832 million or $1.67 per diluted share, an increase of $959 million from the prior-year quarter[17] - Adjusted net income of $1,883 million or $1.71 per diluted share, an increase of $0.90 per diluted share from the prior-year quarter[17] - Adjusted EBITDA reported at $3,309 million, a 68% increase from the prior-year quarter[17] - Net cash provided by operating activities of $6,713 million for the nine months ended September 30, 2025, a 76% increase from the prior year[17] Production Metrics - Consolidated gold production for Q3 2025 was 1,317 thousand ounces, down from 1,574 thousand ounces in Q3 2024, a decrease of 16%[12] - Newmont's attributable gold ounces produced in Q3 2025 were 1,305 thousand ounces, down from 1,559 thousand ounces in Q3 2024, a decline of 16%[12] - Attributable production included 1.4 million ounces of gold and 359 thousand attributable gold equivalent ounces from co-products[17] Pricing and Costs - Average realized gold price per ounce increased to $3,539 in Q3 2025, up 41% from $2,518 in Q3 2024[12] - Consolidated costs applicable to sales for gold per ounce decreased to $1,185 in Q3 2025 from $1,207 in Q3 2024[14] Dividends and Cash Management - Cash dividends declared per common share remained steady at $0.25 for both Q3 2025 and Q3 2024[10] - Ended the quarter with $5.6 billion of consolidated cash and $9.6 billion of total liquidity[17] Investments and Assumptions - Sold investment in Orla Mining Ltd. for $428 million and announced the sale of the Coffee development project[17] - Gold price assumptions: $3,457 per ounce (short-term) and $2,100 per ounce (long-term)[334] Risk Factors - A hypothetical 10% adverse movement in local currency exchange rates would increase costs applicable to sales per ounce by approximately $75[338] - A hypothetical 10% adverse movement in forward electricity rates would decrease the fair value of the Cadia PPA cash flow hedge by approximately $40[347]