Affiliated Managers (AMG) - 2025 Q3 - Quarterly Report
2025-11-06 21:22
Assets Under Management - As of September 30, 2025, the company's total assets under management reached approximately $804 billion, reflecting a 10% increase from $728.4 billion in the same period of 2024[146][155]. - Average assets under management for the third quarter of 2025 were $786.9 billion, an 11% increase from $711.7 billion in the third quarter of 2024[155]. - As of September 30, 2025, 86% of private market assets under management were ahead of their relevant benchmarks, indicating strong performance[162]. - Approximately 28% of total assets under management could potentially earn performance-based fees as of September 30, 2025[166]. Financial Performance - Aggregate fees for the third quarter of 2025 totaled $1,346.0 million, representing a 16% increase compared to $1,157.1 million in the third quarter of 2024[155][156]. - Aggregate fees for the three months ended September 30, 2025, were $1,346.0 million, an increase of $188.9 million or 16% compared to the same period in 2024[169]. - Asset-based fees increased by $185.6 million or 16% for the three months ended September 30, 2025, primarily due to an increase in average assets under management[169]. - Performance-based fees increased by $3.3 million for the three months ended September 30, 2025, primarily in liquid alternative strategies[169]. - Net income (controlling interest) increased by $88.8 million or 72% for the three months ended September 30, 2025, primarily due to $127.6 million of Affiliate transaction gains[172]. - Adjusted EBITDA (controlling interest) increased by $36.8 million or 17% for the three months ended September 30, 2025, primarily due to a $188.9 million increase in aggregate fees[174]. - Consolidated revenue for the three months ended September 30, 2025, was $528.0 million, an increase of $11.6 million or 2% compared to the same period in 2024[178]. - Economic net income (controlling interest) increased by $26.5 million or 17% for the three months ended September 30, 2025[175]. - Net income (non-controlling interests) increased by $16.3 million or 26% for the three months ended September 30, 2025, reflecting strong performance across the board[207]. - Economic net income (controlling interest) for the nine months ended September 30, 2025, was $497.6 million, with economic earnings per share at $16.68[219]. Cash Flow and Investments - Operating cash flow for the nine months ended September 30, 2025, was $716.8 million, driven by net income of $526.1 million adjusted for non-cash items[227]. - Investing cash flow for the nine months ended September 30, 2025, was a net outflow of $258.6 million, mainly due to $515.1 million in investments in Affiliates[228]. - Financing cash flow for the nine months ended September 30, 2025, was a net outflow of $948.6 million, primarily due to $353.2 million in common stock repurchases and $350.0 million in senior notes repayment[229]. - Cash and cash equivalents as of September 30, 2025, totaled $476.1 million, primarily generated from operating activities[221]. Equity and Debt - The company has a $1.25 billion revolver maturing on November 15, 2029, with $100.0 million borrowed as of September 30, 2025[235]. - Senior notes outstanding as of September 30, 2025, included $350.0 million due in June 2030 and $400.0 million due in August 2034[236]. - The company is rated A3 by Moody's and BBB+ by S&P, maintaining an investment-grade capital structure[220]. - The company has junior subordinated notes outstanding with a par value of $300.0 million maturing in March 2059 and a stated coupon of 5.875%[238]. - The company recorded an impairment expense of $59.2 million attributable to the controlling interest for indefinite-lived acquired client relationships due to a decline in fair value[248]. Strategic Investments - The company completed a minority investment in NorthBridge Partners, LLC, and Verition Fund Management LLC, enhancing its portfolio in private markets and multi-strategy investments[147]. - An agreement was made to acquire a minority equity interest in Qualitas Energy, expected to close in Q4 2025, focusing on energy transition investments[148]. - A minority equity interest in BBH Credit Partners is set to be acquired, with the transaction expected to close in Q1 2026[151]. - The company entered into an equity distribution program allowing for the issuance and sale of common stock up to $500.0 million, with no sales occurring as of September 30, 2025[242]. Expenses and Taxation - Compensation and related expenses increased by $32.7 million or 15% for the three months ended September 30, 2025, primarily due to an increase in Affiliate equity compensation expense[182]. - Total consolidated expenses for the three months ended September 30, 2025, were $409.2 million, an increase of $34.5 million or 9% compared to the same period in 2024[181]. - Income tax expense increased by $40.3 million for the three months ended September 30, 2025, with an effective tax rate of 24.4% compared to 19.3% in the prior year[205]. Impairment and Revenue Projections - Revenue growth rates over the next five years were projected to range from (21)% to 0%, with a long-term revenue growth rate of 0% and a discount rate of 11% used in impairment assessments[248]. - A decrease in revenue growth rates by 200 basis points could result in an additional impairment of approximately $49 million, while a 100 basis point increase in the discount rate could lead to an additional impairment of approximately $91 million[249]. - No triggering events indicating impairment were identified for indefinite-lived acquired client relationships during the three and nine months ended September 30, 2025[250].
National Health Investors(NHI) - 2025 Q3 - Quarterly Results
2025-11-06 21:22
Exhibit 99.1 Contact: John L. Spaid, Chief Financial Officer Phone: (615) 890-9100 NHI Announces Third Quarter 2025 Results MURFREESBORO, Tenn. – (Thursday, November 6, 2025) National Health Investors, Inc. (NYSE: NHI) announced today its results for the three and nine months ended September 30, 2025. CEO Comments "NHI had another strong quarter highlighted by the transition of seven properties to our SHOP portfolio that resulted in consolidated SHOP NOI year-over-year growth of approximately 63%," said Eri ...
Fidelity National Financial(FNF) - 2025 Q3 - Quarterly Results
2025-11-06 21:22
Financial Performance - Net earnings attributable to common shareholders for Q3 2025 were $358 million, or $1.33 per diluted share, compared to $266 million, or $0.97 per share in Q3 2024, representing a 34.5% increase in net earnings[4] - Adjusted net earnings attributable to common shareholders for Q3 2025 were $439 million, or $1.63 per share, up from $356 million, or $1.30 per share in Q3 2024, reflecting a 23.3% increase[5] - Total revenue for the third quarter of 2025 was $4,030 million, an increase from $3,603 million in the same quarter of 2024, representing a growth of approximately 11.8%[29] - Adjusted EPS attributable to common shareholders for Q3 2025 was $1.63, up from $1.30 in Q3 2024, indicating a growth of 25.4%[31] - Net earnings attributable to common shareholders for the nine months ended September 30, 2025, were $719 million, compared to $820 million in 2024, reflecting a decrease of 12.4%[39] - Adjusted net earnings attributable to common shareholders for the nine months ended September 30, 2025, were $970 million, up from $900 million in 2024, indicating an increase of 7.8%[39] Revenue and Sales - Total revenue for the Title Segment was $2.3 billion in Q3 2025, an 8% increase from $2.1 billion in Q3 2024, with adjusted pre-tax title margin reaching 17.8%[8] - The Title Segment's commercial revenue increased by 34% year-over-year, reaching $389 million in Q3 2025[11] - Direct title premiums in Q3 2025 reached $678 million, compared to $571 million in Q3 2024, marking an increase of 18.7%[29] - Total title and escrow revenue for the nine months ended September 30, 2025, was $8,013 million, compared to $7,296 million in 2024, marking a growth of 9.8%[39] - F&G gross sales for Q3 2025 were $4.2 billion, an 8% increase compared to $3.9 billion in Q3 2024, with net sales rising to $2.8 billion from $2.4 billion[18] Expenses and Costs - Total expenses for Q3 2025 were $3,577 million, up from $3,290 million in Q3 2024, which is an increase of 8.7%[29] - Personnel costs in Q3 2025 were $899 million, an increase from $810 million in Q3 2024, representing a rise of 11%[29] - The company incurred total expenses of $9,448 million for the nine months ended September 30, 2025, compared to $8,958 million in 2024, an increase of 5.5%[39] Assets and Investment - F&G Segment achieved record assets under management (AUM) of $71.4 billion, a 14% increase from $62.9 billion in Q3 2024, driven by strong annuity sales[8] - Cash and investment portfolio increased to $74,379 million as of September 30, 2025, from $67,094 million at the end of 2024, a rise of 10.1%[45] - Total assets grew to $106,636 million as of September 30, 2025, compared to $95,263 million at the end of 2024, reflecting an increase of 11.9%[45] Market and Operational Metrics - Total opened orders in Q3 2025 reached 370,000, a 5% increase from 352,000 in Q3 2024, with a purchase percentage of 70%[49] - Total closed orders in Q3 2025 were 250,000, a 7.8% increase from 232,000 in Q3 2024, with a purchase percentage of 74%[49] - Total commercial closed orders for Q3 2025 were 30.8 million, up from 29.6 million in Q2 2025, indicating a 4% increase[49] - Total staffing in field operations increased to 10,600 employees in Q3 2025, compared to 10,500 in Q2 2025, showing a slight growth[49] Risks and Challenges - The company faced various risks including changes in economic conditions, consumer spending, and regulatory compliance, which could impact future performance[27] Non-GAAP Measures - Management considers non-GAAP financial measures useful for assessing the size and performance of the investment portfolio[60] - Management excludes non-recurring, infrequent, or unusual items from adjusted net earnings to better reflect core business operations[58] - Certain income tax adjustments are excluded from adjusted net earnings if they do not reflect core business performance[58]
Mesa Laboratories(MLAB) - 2026 Q2 - Quarterly Results
2025-11-06 21:22
Exhibit 99.1 Mesa Labs Announces Second Quarter Results Lakewood, Colorado, November 6, 2025 – Mesa Laboratories, Inc. (NASDAQ:MLAB) ("Mesa" or "the Company"), a global leader in the design and manufacture of life science tools and critical quality control solutions, today announced results for its second fiscal quarter ("2Q26") ended September 30, 2025 (amounts in thousands). Financial Summary – 2Q26 versus the same year ago period We operate a diversified business across four divisions: Sterilization and ...
IBEX(IBEX) - 2026 Q1 - Quarterly Results
2025-11-06 21:22
Exhibit 99.1 IBEX Reports Record Start to Fiscal 2026, Raises Full Year Guidance WASHINGTON, DC— November 6, 2025 —IBEX Limited ("ibex"), a leading provider in global business process outsourcing and end-to-end customer engagement technology solutions, today announced financial results for its first fiscal quarter ended September 30, 2025. | | | | | Three months ended September 30, | | | | --- | --- | --- | --- | --- | --- | --- | | ($ millions, except per share amounts) | | 2025 | | 2024 | Change | | | Rev ...
F&G Annuities & Life(FG) - 2025 Q3 - Quarterly Results
2025-11-06 21:22
ANNUITIES & LIFE F&G Investor Update Fall 2025 Generally Accepted Accounting Principles in the U.S. ("GAAP") is the term used to refer to the standard framework of quidelines for financial accounting, GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, this document includes non-GAAP financial measures, which the Company believes are ...
U.S. Physical Therapy(USPH) - 2025 Q3 - Quarterly Results
2025-11-06 21:22
Financial Performance - Adjusted EBITDA for Q3 2025 was $23.9 million, a 13.2% increase from $21.1 million in Q3 2024, primarily due to clinic additions[3]. - Net income attributable to USPH shareholders for Q3 2025 was $13.1 million, compared to $6.6 million in Q3 2024, with earnings per share increasing to $0.48 from $0.39[3][24]. - Total revenue from physical therapy operations increased by $25.4 million, or 17.8%, to $168.1 million in Q3 2025 from $142.7 million in Q3 2024[3][10]. - Total net revenue for the first nine months of 2025 increased by $87.4 million, or 17.8%, to $578.3 million from $490.9 million in the same period of 2024[26]. - Operating income for the first nine months of 2025 was $69.9 million, compared to $43.3 million for the same period in 2024, marking a significant increase[31]. - Net income for the first nine months of 2025 was $35.4 million, compared to $22.2 million for the same period in 2024, with earnings per share increasing to $1.85[33]. - Comprehensive income attributable to USPH shareholders for the three months ended September 30, 2025, was $12,870, compared to $3,883 in the same period of 2024[50]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $70,256,000, up from $59,966,000 in 2024, reflecting an 17.0% growth[62]. Patient Visits and Clinic Operations - Total patient visits reached 1,554,207 in Q3 2025, an 18.0% increase from 1,317,051 in Q3 2024[3][10]. - Average daily patient visits per clinic reached a record-high of 32.2 in Q3 2025, compared to 30.1 in Q3 2024[3]. - The company added 18 clinics and closed 7 in Q3 2025, bringing the total to 779 clinics as of September 30, 2025, compared to 700 a year earlier[3]. - Revenues from physical therapy operations rose by $72.2 million, or 17.2%, in the first nine months of 2025, driven by the addition of 84 net owned clinics[27]. - The total number of clinics increased to 779 by the end of Q3 2025, up from 700 at the end of Q3 2024, indicating a net addition of 79 clinics year-over-year[70]. - The average visits per clinic per day increased to 32.2 in Q3 2025, compared to 30.1 in Q3 2024, showing an improvement in clinic utilization[68]. Revenue and Costs - Industrial injury prevention services revenue was $29.0 million for Q3 2025, a 14.6% increase from $25.3 million in Q3 2024[3][15]. - Corporate office costs increased to $17.4 million in Q3 2025 from $14.4 million in Q3 2024, primarily due to supporting a larger number of clinics[16]. - Corporate office costs were $51.1 million for the first nine months of 2025, up from $42.7 million in the same period of 2024[29]. - The company reported a total operating cost of $394,060,000 for the nine months ended September 30, 2025, compared to $336,917,000 for the same period in 2024, representing an increase of approximately 17%[65]. - Operating costs per visit decreased slightly to $86.88 in Q3 2025 from $88.61 in Q3 2024, indicating improved cost efficiency[65]. - Salaries and related costs per visit remained stable at $62.07 in Q3 2025, compared to $62.47 in Q3 2024[65]. Cash and Investments - Total cash and cash equivalents decreased to $31.1 million as of September 30, 2025, from $117.0 million a year earlier[35]. - Cash and cash equivalents as of September 30, 2025, were $31,102, down from $41,362 as of December 31, 2024[52]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $50,126,000, down from $55,531,000 in 2024, a decrease of 9.0%[55]. - Net cash used in investing activities for the nine months ended September 30, 2025, was $(31,269,000), compared to $(54,597,000) in 2024, showing a 42.7% improvement[55]. - Cash and cash equivalents at the end of the period were $31,102,000, down from $116,959,000 at the end of September 30, 2024, a decrease of 73.4%[55]. Acquisitions and Dividends - The company acquired a 60% equity interest in a three-clinic practice, generating $5.3 million in annual revenue[3]. - The company acquired a 60% equity interest in a three-clinic practice on July 31, 2025, which generates approximately $5.3 million in annual revenue[36]. - The company declared dividends of $0.45 per common share for the three months ended September 30, 2025, compared to $0.44 in the same period of 2024[49].
BlackSky Technology (BKSY) - 2025 Q3 - Quarterly Report
2025-11-06 21:21
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 10-Q ___________________________________ (Mark One) ☒ 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 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39113 ____________________________ ...
Assurant(AIZ) - 2025 Q3 - Quarterly Report
2025-11-06 21:21
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 For the transition period from to Commission file number 001-31978 Assurant, Inc. (Exact name of registrant as specified in its charter) | Title of Each Class | Trading Symbol(s) | Name of Each Ex ...
AbCellera Biologics(ABCL) - 2025 Q3 - Quarterly Results
2025-11-06 21:21
NEWS RELEASE AbCellera Reports Q3 2025 Business Results 11/6/2025 VANCOUVER, British Columbia--(BUSINESS WIRE)-- AbCellera (Nasdaq: ABCL) today announced financial results for the third quarter of 2025. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated. "AbCellera successfully delivered on two corporate priorities this quarter by starting activities at our new clinical manufacturing facility and substantially completing our platform investments," said Ca ...