Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38860 TRADEWEB MARKETS INC. (Exact name of registrant as specified in its charter) ___________________________________________ (State of other jurisdi ...

Financial Performance - Q3 2025 diluted EPS increased to $2.68, up 2.7% from $2.61 in Q3 2024; YTD 2025 EPS rose to $6.22, a 10.7% increase from $5.62 in YTD 2024[3][5] - Q3 2025 FFO per share reached $3.01, a 4.5% increase from $2.88 in Q3 2024; YTD 2025 FFO per share was $8.60, up 2.9% from $8.36 in YTD 2024[3][5] - Q3 2025 total revenue increased by 4.4% to $766.8 million compared to Q3 2024, with year-to-date revenue up 4.6% to $2.27 billion[53] - Net income attributable to common stockholders for Q3 2025 was $381.3 million, a 2.4% increase from Q3 2024, while year-to-date net income rose 10.8% to $886.6 million[53] - Funds from operations (FFO) for Q3 2025 reached $432.0 million, reflecting a 5.2% increase year-over-year, with year-to-date FFO at $1.23 billion, up 3.4%[53] Revenue and Occupancy - Same Store Residential revenue for Q3 2025 increased by $15.1 million, or 2.3%, to $685.36 million; operating expenses rose by $9.91 million, or 4.6%, to $224.31 million[7] - Economic occupancy for same store properties was reported at 95.7% for Q3 2025, slightly down from 96.2% in the previous quarter[59] - Average Monthly Revenue Per Occupied Home for Q3 2025 was $3,087, reflecting a 2.2% increase from Q3 2024[63] - Year-to-date (YTD) 2025 residential revenue increased by 2.7% to $2,043,888, compared to $1,989,405 in YTD 2024[71] - Economic occupancy rate for the total same store portfolio was 96.0%, slightly up from 95.9% in the previous year[71] Development and Acquisitions - The Company completed the development of Avalon Annapolis with 508 apartment homes at a total capital cost of $195 million during Q3 2025[9] - During the nine months ended September 30, 2025, the Company sold nine communities for $811.68 million, resulting in a net gain of $336.08 million[13] - The Company acquired eleven communities during the nine months ended September 30, 2025, totaling 3,285 apartment homes for $805.45 million[18] - As of September 30, 2025, AvalonBay Communities has 7,806 apartment homes under construction with a total capital cost of $3,012 million[88] - AvalonBay expanded the Avalon Pleasanton development by adding 280 apartment homes, with initial homes currently in lease-up[89] Financial Outlook - For Q4 2025, the projected EPS is between $1.18 and $1.28, while the projected FFO per share is between $2.76 and $2.86[31] - The full year 2025 financial outlook indicates a residential revenue change of 2.3% to 2.7% compared to full year 2024[32] - The October 2025 full year outlook for EPS is projected at $7.45, down from the July 2025 outlook of $7.95[34] - Projected EPS (diluted) for Q4 2025 is estimated to be between $1.18 and $1.28, while the full year 2025 projected EPS ranges from $7.35 to $7.55[129] - Projected FFO per share (diluted) for Q4 2025 is expected to be between $2.76 and $2.86, with full year 2025 projected FFO per share ranging from $11.31 to $11.51[129] Expenses and Costs - Total operating expenses for Q3 2025 increased by 7.7% year-over-year to $249.3 million, with residential operating expenses for same store properties at $224.3 million[59] - Total same store residential operating expenses increased by 4.1% to $643,686 in YTD 2025, compared to $618,241 in YTD 2024[76] - Property taxes for YTD 2025 rose by 2.3% to $230,904, influenced by increased assessments and the expiration of tax incentive programs[77] - Payroll costs increased by 3.7% to $118,143 in YTD 2025, primarily due to higher employee benefits and salaries[78] - Repairs and maintenance expenses grew by 7.7% to $120,485 in YTD 2025, driven by higher third-party labor costs and smart home technology deployment[78] Debt and Financial Ratios - The Company's annualized Net Debt-to-Core EBITDAre for Q3 2025 was 4.5 times, with Unencumbered NOI at 95% for the nine months ended September 30, 2025[22] - Total debt amounts to $8,784,124, with a weighted average interest rate of 3.6%[1] - Q3 2025 net debt-to-core EBITDAre ratio is 4.5x, indicating strong debt management[1] - Combined EBITDA to combined debt service ratio stands at 6.26x, well above the required 1.50x[1] - The company maintains compliance with all key debt covenants, including total outstanding indebtedness to capitalization value at 24.8%[1] Market Conditions and Risks - The Company’s financial outlook includes potential impacts from local market conditions and regulatory changes affecting revenue[40] - The Company emphasizes that forward-looking statements involve risks and uncertainties that may cause actual results to differ materially[44] - The company expects the amount of rent relief recognized to continue to decline in 2025, impacting uncollectible lease revenue[139] - Economic gain for disposed communities shows a net loss of $4,825 for Q3 2025, contrasting with a year-to-date economic gain of $104,989[1] - The Company considers NOI as a key performance measure, defined as total property revenue less direct operating expenses, excluding corporate-level income and other indirect costs[124]

October 30, 2025 For release: Immediately Refer to: Ashley Hennessey; gentry_ashley_jo@lilly.com; (317) 416-4363 (Media) Mike Czapar; czapar_michael_c@lilly.com; (317) 617-0983 (Investors) Lilly reports third-quarter 2025 financial results, highlights R&D pipeline momentum and raises 2025 guidance INDIANAPOLIS, October 30, 2025 - Eli Lilly and Company (NYSE: LLY) today announced its financial results for the third- quarter of 2025. "Lilly delivered another strong quarter, with 54% revenue growth year-over-y ...

Exhibit 99.1 Media Release Peabody Reports Results For Quarter Ended September 30, 2025 Improving Q4 Targets for Seaborne Met, Seaborne Thermal and PRB Centurion Mine Longwall Maintains Accelerated Start of February 2026 ST. LOUIS, October 30, 2025 – Peabody (NYSE: BTU) today reported net income attributable to common stockholders of $(70.1) million, including $54.0 million of Costs Related to Terminated Acquisition, or $(0.58) per diluted share, for the third quarter of 2025, compared to $101.3 million, or ...

Exhibit 99.1 ENTEGRIS REPORTS RESULTS FOR THIRD QUARTER OF 2025 BILLERICA, Mass., October 30, 2025 - Entegris, Inc. (NASDAQ: ENTG), today reported its financial results for the Company's third quarter ended September 27, 2025. PRESS RELEASE Bill Seymour Investor Relations T + 1 952 556 1844 bill.seymour@entegris.com Dave Reeder, Entegris' President and Chief Executive Officer, said: "As I begin my tenure as CEO of Entegris, I want to say how honored I am to lead this exceptional company through its next pha ...

Exhibit 99.1 ALTRIA REPORTS 2025 THIRD-QUARTER AND NINE-MONTHS RESULTS; ANNOUNCES EXPANDED SHARE REPURCHASE PROGRAM; NARROWS 2025 FULL-YEAR EARNINGS GUIDANCE RICHMOND, Va. - October 30, 2025 - Altria Group, Inc. (NYSE: MO) today reports our 2025 third-quarter and nine-months business results, announces the expansion of our existing share repurchase program and narrows our guidance for 2025 full-year adjusted diluted earnings per share (EPS). "Altria continued to build significant momentum in the third quart ...

Exhibit 99.1 Investor Contact: Erinn Murphy, Crocs, Inc. (303) 848-7005 emurphy@crocs.com PR Contact: Melissa Layton, Crocs, Inc. (303) 848-7885 mlayton@crocs.com Crocs, Inc. Reports Third Quarter 2025 Results BROOMFIELD, COLORADO — October 30, 2025 — Crocs, Inc. (NASDAQ: CROX), a world leader in innovative casual footwear for all, today announced its third quarter 2025 financial results. "Our third-quarter performance was driven by disciplined execution against our brand strategies, as well as greater prod ...

NEW YORK, NY (Business Wire) — October 30, 2025 — Shake Shack Inc. ("Shake Shack" or the "Company") (NYSE: SHAK) has posted its results for the third quarter of 2025 in a Shareholder Letter in the Quarterly Results section of the Company's Investor Relations website, which can be found here: Q3 2025 Shake Shack Shareholder Letter. Shake Shack will host a conference call at 8:00 a.m. ET. Hosting the call will be Robert Lynch, Chief Executive Officer, and Katherine Fogertey, Chief Financial Officer. The confe ...

Savannah Steele + 1 646 767 4941 Sameer.Murukutla@Tradeweb.com Savannah.Steele@Tradeweb.com TRADEWEB REPORTS THIRD QUARTER 2025 FINANCIAL RESULTS New York, October 30, 2025 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported financial results for the quarter ended September 30, 2025. $508.6 million quarterly revenues, an increase of 13.3% (11.3% on a constant currency basis) compared to prior year period $2 ...

Exhibit 99.1 MALIBU BOATS, INC. ANNOUNCES FIRST QUARTER FISCAL 2026 RESULTS Loudon, TN, October 30, 2025 - Malibu Boats, Inc. (Nasdaq: MBUU) today announced its financial results for the first quarter ended September 30, 2025. First Quarter Fiscal 2026 Highlights Compared to First Quarter Fiscal 2025: "We delivered strong results in the first quarter in what continues to be a challenging market environment. Prioritizing dealer health remains central to our strategy, and our team executed with discipline to ...