October 2025 S&P 500 Stocks Summary | Non-Directed Orders | Market Orders as % of | Marketable Limit | Non-Marketable Limit | Other Orders as % of | | --- | --- | --- | --- | --- | | as % of All Orders | Non-Directed Orders | Orders as % of Non- | Orders as % of Non- | Non-Directed Orders | | | | Directed Orders | Directed Orders | | | 100.00 | 42.65 | 12.67 | 34.06 | 10.62 | Venues | Venue - | Non- | Market | Marketable | Non- | Other | Net Payment | Net Payment Paid/ | Net Payment Paid/ | Net Payment Paid ...

NEWS RELEASE TO BUSINESS EDITOR: PEOPLES FINANCIAL SERVICES CORP. Reports Unaudited Fourth Quarter and Full Year 2025 Earnings Moosic, PA, January 30, 2026/PRNEWSWIRE/ – Peoples Financial Services Corp. ("Peoples" or the "Company") (NASDAQ: PFIS), the bank holding company for Peoples Security Bank and Trust Company (the "Bank"), today reported unaudited financial results at and for the three months and year ended December 31, 2025. Peoples reported net income of $12.0 million, or $1.19 per diluted share for ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report For the transition period from ________ to ________ Commission file number: 001-41847 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fisca ...

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 December 28, 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 0-19655 TETRA TECH, INC. (Exact name of registrant as specified in its charter) Delaware 95-4148514 (State or other jurisdiction ...

Production and Delivery Challenges - The 777X program, launched in 2013, is expected to have first delivery in 2027, with recognized reach-forward losses of $4.9 billion and $3.5 billion in 2025 and 2024, respectively, due to production challenges and delays[43]. - The company plans to increase the 737 production rate to 47 per month by 2026, but faces risks of delays if production health indicators do not support this increase[44]. - Operational challenges in the production system could lead to additional delays and increased costs, negatively impacting revenues and operating margins[45]. - The introduction of new aircraft programs involves significant risks and potential delays, which could adversely affect financial results if commitments to customers are not met[43]. - The commercial aircraft backlog consists of aircraft scheduled for delivery over several years, making it vulnerable to macroeconomic and industry impacts that could affect future deliveries[39]. Financial Performance and Revenue Sources - The company relies heavily on a limited number of commercial airlines for revenue, which poses risks if these customers face financial challenges or make fleet decisions that reduce orders[41]. - The company is experiencing inflationary pressures and supply chain disruptions, which have reduced productivity and adversely affected financial performance[46]. - Changes in U.S. government defense spending and appropriations could negatively impact revenue from defense-related programs, which are a substantial portion of total revenue[48]. - In 2025, non-U.S. customers accounted for 46% of total revenues and 60% of Commercial Airplanes revenue from customer contracts[57]. - 35% of revenues in 2025 were earned from U.S. government contracts, which are subject to extensive procurement regulations[68]. Defense and Security Business Risks - During 2024, the defense business recorded $5.0 billion in additional losses on five significant fixed-price development programs[73]. - Approximately 60% of revenues from the defense and security businesses were generated from fixed-price contracts in 2025[72]. - Approximately 40% of revenues from the defense and security businesses were generated from cost-type contracting arrangements in 2025[75]. - The competitive landscape is intensifying, with increased international competition and consolidation in the defense industry, potentially reducing market share and revenues[56]. Regulatory and Trade Environment - Changes in regulatory requirements and trade policies could adversely affect operations and financial results[57][69]. - The U.S.-China trade relationship remains challenged, impacting deliveries and market share in the commercial aircraft sector[60]. - The global trade environment is highly dynamic, with tariffs potentially increasing product costs and affecting demand[59]. Cybersecurity and Legal Risks - The company faces various cybersecurity threats that could negatively impact business operations and data security[79]. - The company is exposed to risks from cyber-related attacks, which could materially affect its business strategy and financial condition[81]. - Legal and regulatory matters could have a material impact on the company's financial position and results of operations[84]. Environmental and Climate Change Risks - Environmental liabilities could incur substantial costs, including cleanup and fines, affecting the company's financial condition[85]. - The company faces risks related to global climate change, which may impact its market outlook and operational costs[86]. Financial Obligations and Shareholder Impact - As of December 31, 2025, the company's total debt amounted to $54.1 billion, with approximately $15.5 billion in principal payments due over the next three years[89]. - The company expects to require up to $345 million annually for dividends on its 6.00% Series A Mandatory Convertible Preferred Stock until October 15, 2027[89]. - The issuance of common stock upon conversion of Mandatory Convertible Preferred Stock could dilute existing shareholders' interests[93]. Currency and Commodity Risks - A 10% increase or decrease in foreign currency exchange rates would have impacted unrealized gains by $425 million as of December 31, 2025[273]. - A 10% change in the market price of commodity derivatives would have resulted in a $38 million increase or decrease in unrealized gains as of December 31, 2025[274]. - The deferred compensation liability, marked to market as of December 31, 2025, was $1.7 billion, with a 10% change in fair value affecting the liability by $169 million[275].

Regulatory Environment - The company submitted filing materials to the CSRC on May 11, 2023, and obtained approval on July 24, 2023, but the approval has since lapsed[26]. - The company re-submitted the filing to the CSRC on October 9, 2024, and received new approval on March 13, 2025[26]. - The company is not currently subject to CAC review for its registered public offering in the U.S., but uncertainties exist regarding future regulatory changes in China[27]. - The company may face significant penalties or operational changes if found non-compliant with evolving PRC cybersecurity and data protection laws[39]. - The PRC government may exert more oversight over foreign securities offerings, which could impact the company's ability to offer shares[25]. - Recent regulatory developments indicate a trend towards stricter compliance requirements for companies operating in China, potentially affecting operational costs and business practices[37]. - The company faces significant uncertainty regarding the enactment and interpretation of regulatory requirements related to overseas listings[41]. - The company has not been involved in any cybersecurity investigations or received any regulatory inquiries as of the report date[40]. Financial Performance - Revenue from the top five customers accounted for 91% and 86% of total revenue for the years ended September 30, 2025 and 2024, respectively[74]. - As of September 30, 2025, net current liabilities were RMB 10,266,365 (US$ 1,462,943) and total deficits were RMB 7,188,181 (US$ 1,024,306) as of September 30, 2024[81]. - The company recorded a net loss for the years ended September 30, 2025 and 2024, and anticipates needing additional financing to support operations[80]. - Operating cash outflow was recorded for the year ended September 30, 2024, with expectations of increased operating and capital expenditures in the coming years[79]. - The company does not anticipate paying dividends in the foreseeable future, opting to reinvest earnings to expand product offerings and cover operating costs[118]. Operational Risks - The company faces risks related to creditworthiness of customers, which may adversely affect working capital if major customers fail to settle outstanding amounts[76]. - The company relies on third-party suppliers for raw materials and manufacturing, which may lead to increased costs and supply chain disruptions[85]. - Competition in the apparel SCM industry is intense, with many players leading to pricing pressure and potential loss of orders[90]. - The company is dependent on key executives and personnel, and loss of these individuals could negatively impact business operations[91]. - The company has identified material weaknesses in internal controls over financial reporting, which could lead to misstatements in financial results[102]. Market Conditions - The company’s operations and revenue are entirely generated in China, making it vulnerable to economic conditions and regulatory changes in the region[47]. - Political and economic developments in China may adversely impact the company's business and demand for its services[57]. - Seasonal fluctuations in sales are expected, with the highest sales occurring from August to December[84]. - The apparel SCM market in China is large and fragmented, with competition based on product design, price, quality control, and delivery[196]. Corporate Structure and Governance - The company was incorporated on November 3, 2021, and issued 10,351,125 shares to Action Holdings Limited as part of its reorganization for listing[140]. - Controlling shareholders hold 85.1% of shares, which may lead to conflicts of interest and affect decisions that could benefit other shareholders[114]. - Nasdaq may apply additional criteria for listing due to the company's small public offering and significant insider ownership, potentially impacting liquidity[115]. - The company is classified as an "emerging growth company" under the JOBS Act, which may hinder its ability to raise capital when needed[129]. Supply Chain and Production - The company offers a full suite of SCM services, including market trend analysis, product design, raw material sourcing, production, and logistics management, tailored to customer needs[161][166]. - The company sources raw materials primarily from third-party vendors in China, with a focus on cashmere and non-cashmere products[173]. - The company maintains a fashion showroom that is regularly updated to reflect the latest fashion trends, serving as a marketing tool[168]. - The company has stringent quality control procedures throughout the supply chain, ensuring finished goods meet customer specifications[177]. Strategic Initiatives - The company aims to broaden its customer base beyond China to key markets such as the United States and Europe, enhancing its design and development capabilities to attract new customers[156]. - The company plans to enhance the quality of apparel products and production efficiency by investing in technology infrastructure and improving collaboration with suppliers[159]. - Sustainability is a key focus, with plans to integrate sustainable practices into product sourcing and environmental marketing, including exploring eco-friendly raw materials[160].

Revenue Performance - Aerospace segment revenue was $13,110 million in 2025, up from $11,249 million in 2024 and $8,621 million in 2023, representing 25% of consolidated revenue in 2025[36] - Marine Systems segment revenue reached $16,723 million in 2025, compared to $14,343 million in 2024 and $12,461 million in 2023, accounting for 32% of consolidated revenue in 2025[50] - Revenue for the Combat Systems segment was $9,246 million in 2025, representing 17% of consolidated revenue, a decrease from 20% in 2023[67] - The Technologies segment generated $13,471 million in revenue in 2025, accounting for 26% of consolidated revenue, down from 31% in 2023[83] - U.S. commercial revenue was $7.6 billion in 2025, representing 15% of consolidated revenue, an increase from $5.8 billion in 2023[89] - Revenue from non-U.S. government and commercial customers was $9.2 billion in 2025, maintaining 17% of consolidated revenue[90] Defense and Aerospace Programs - Gulfstream's G800, the longest-range aircraft, offers an 8,200-nautical-mile range at Mach 0.85, entering service in 2025[22] - The Columbia-class submarine program, valued at over $125 billion, is a 12-boat program with the first delivery expected in 2028[41] - The Virginia-class submarine program has 14 submarines in backlog scheduled for delivery through 2034, with Block V including an additional 84-foot hull section to enhance strike capacity[42] - The Advanced Reconnaissance Vehicle (ARV) program for the U.S. Marine Corps is expected to move to the engineering and manufacturing development phase in 2026[58] - The company is producing 515 new LAVs for the Canadian army in nine variants, including ambulances and command posts[60] Investments and Expansion - Jet Aviation expanded its global footprint by acquiring an FBO at Paris - Le Bourget Airport in 2025, enhancing its capabilities in Europe[32] - The Marine Systems segment has made substantial investments to expand facilities and workforce to meet increased demand for submarines and surface ships over the next two decades[39] Workforce and Employment - The company hired over 18,700 individuals in 2025, with a workforce of approximately 117,000 employees[107] - The company’s global workforce is 77% male and 23% female, with senior leadership teams represented by 76% males and 24% females[107] Government Contracts and Revenue - U.S. government revenue reached $35.757 billion in 2025, accounting for 68% of total revenue, up from 72% in 2023[86] - Fixed-price contracts comprised 51% of U.S. government revenue in 2025, while cost-reimbursement contracts accounted for 44%[88] - The company’s U.S. government contracts are governed by the Federal Acquisition Regulation (FAR) and are subject to audits and reviews[106] Supply Chain and Compliance - The company relies on suppliers for raw materials, and disruptions in supply could adversely affect its ability to meet customer commitments[105] - The company is subject to various environmental laws and regulations, which could impact future compliance costs[111] Financial Instruments and Risks - As of December 31, 2025, the company had notional forward exchange contracts outstanding of $8.5 billion, compared to $6.2 billion on December 31, 2024[273] - A 10% unfavorable rate movement in the portfolio of forward exchange contracts would result in recognized pretax losses of $68 million for 2025 and $36 million for 2024, with unrecognized losses of $498 million and $180 million respectively[273] - The company had $8 billion principal amount of fixed-rate debt as of December 31, 2025, which is not putable and not traded in the market[274] - A 10% unfavorable interest rate movement would not have a material impact on the fair value of the company's fixed-rate debt[274] Product Performance - Gulfstream's aircraft hold over 350 city-pair speed records, more than any other business jet manufacturer, showcasing its leadership in performance[21] - The installed base for the Abrams Main Battle Tank is 4,511 units across 10 countries, with a backlog of 330 units scheduled for delivery by 2028[64] - The Stryker Wheeled Vehicle has an installed base of 4,313 units in 5 countries, with a backlog of 382 units also set for delivery by 2028[64] - The PANDUR/PIRANHA armored vehicle has an installed base of 7,467 units in 29 countries, with a significant backlog of 907 units expected to be delivered by 2032[64] - Gulfstream's aircraft manufacturing revenue was $9,413 million in 2025, a significant increase from $7,811 million in 2024 and $5,710 million in 2023[37] - The G500 and G600 aircraft, introduced in 2018 and 2019 respectively, replaced older models and have an installed base of over 1,650 aircraft globally[25]

Corporate Structure and Governance - The company adopted a dual-class share structure, with Mr. Hongliang Li and Mr. Hongqi Li each owning 50% of the Class B Ordinary Shares, granting them approximately 98.66% of the voting power[23]. - The dual-class voting structure allows directors and officers to hold approximately 98% of the voting power, potentially limiting shareholder influence[149]. - Shareholders of the company have limited rights under Cayman Islands law to inspect corporate records, which may hinder their ability to protect their interests[175]. Regulatory and Compliance Risks - The company faces significant legal and operational risks due to its majority operations in mainland China, including potential regulatory interventions that could adversely affect its business and share value[25]. - The China Securities Regulatory Commission (CSRC) has implemented new regulations for overseas listings, requiring domestic companies to complete filing procedures, which may impact the company's ability to list on U.S. exchanges[26]. - The company is subject to various risks related to compliance with PRC laws, which could materially affect its operations and financial performance[33]. - The Holding Foreign Companies Accountable Act (HFCAA) could lead to the delisting of the company's Class A Ordinary Shares if its auditor is not subject to PCAOB inspections[28]. - The company may be subject to significant legal and administrative liabilities under PRC Trademark Law, including fines and potential redesign of products, which could disrupt operations[52]. - The company must comply with the PRC Anti-unfair Competition Law, which prohibits activities that disrupt market competition and may result in civil, administrative, or criminal liabilities[82]. - The evolving PRC legal system and regulations concerning the oil equipment industries may impose new compliance requirements that could adversely affect the company's operations[98]. - The PRC regulations on loans and direct investments by offshore holding companies may limit the company's ability to fund and expand its business in China[84]. - The approval and filing requirements from the CSRC for future offshore offerings may pose uncertainties and affect the company's ability to raise capital[104]. - The newly enacted HFCAA and AHFCAA impose stricter criteria on companies operating in restrictive markets, potentially leading to delisting risks[108]. Financial Performance and Risks - The company is reliant on a small number of customers for a majority of its revenue, and the loss of any key customer could adversely affect its financial condition[31]. - The company's three largest customers accounted for 42.6% and 45.3% of total operating revenue for the fiscal years ended September 30, 2025 and 2024 respectively, indicating a high concentration of customer revenue[36]. - The company may face significant fluctuations in operating results due to the cyclical nature of the oil and natural gas industry, which is affected by the volatility of commodity prices[37]. - Financial performance is heavily reliant on economic conditions in the oil and gas industry, particularly in China, with volatility in crude oil prices impacting demand for services[59]. - The company may incur penalties if it fails to comply with PRC regulations regarding employee benefits plans and property-related laws, which could adversely affect its business and financial condition[35]. - The company has not historically declared or paid dividends on its Ordinary Shares, meaning returns for investors will primarily depend on share price appreciation[35]. - The company may face delays in using proceeds from offerings due to the need for governmental registration processes in China, potentially affecting business growth strategies[95]. - The company's ability to distribute profits to shareholders may be restricted if PRC residents do not complete necessary foreign exchange registrations[90]. - The company may face tax assessments if equity transfer prices are significantly low without justification, impacting financial performance[134]. - The company faces potential fines ranging from 50% to 500% of unpaid or underpaid taxes due to non-compliance with PRC tax regulations[138]. Operational Challenges - The ongoing military conflict between Russia and Ukraine may negatively impact the company's business operations and financial results[31]. - The ongoing military conflict in Ukraine could lead to significant market disruptions, including volatility in commodity prices and supply chain interruptions, adversely affecting the company's financial condition and results of operations[38]. - The company must continually invest in research and development to remain competitive in the technology-oriented oil and gas industry[31]. - The company faces integration challenges, design defects, and software errors that could lead to delays in product introductions and increased costs[56]. - The company is dependent on skilled personnel, and competition for talent may impact operational effectiveness and profitability[62]. - The COVID-19 pandemic significantly impacted operations and demand for services, with potential future health crises posing ongoing risks[69]. Market and Economic Factors - Fluctuations in exchange rates may have a material adverse effect on the company's results of operations and the value of investments[33]. - Rising labor costs in China may adversely affect the company's profitability if these costs cannot be passed on to customers[115]. - Stricter regulatory requirements regarding labor contracts and employee benefits could limit the company's operational flexibility and impact results[116]. - Potential violations of labor laws may lead to disputes or government investigations, adversely affecting the company's financial condition[117]. Product and Technology Development - The company operates in four segments: clean-energy equipment, new energy production and operation, digitalization and integration equipment, and oil and gas engineering technical services[182]. - The company focuses on providing integrated solutions for natural gas and other clean-energy resources, including LNG, CNG, and solar energy[186]. - The company has developed a solar powered wellhead safety control system to address power supply issues in remote areas, reducing operating and maintenance costs[206]. - The integrated pre-water separation unit reduces investment and land requirements by 50% and 30% compared to traditional processes, improving economic returns[211]. - The company specializes in the design and production of various oil and gas equipment, including metering and pressure regulating skids[219].

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 January 3, 2026 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 1-05129 MOOG Inc. (Exact name of registrant as specified in its charter) New York 16-0757636 ...

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 January 3, 2026 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ☐ 1934 (716) 652-2000 (Registrant's telephone number, including area code) For the transition period from _________ to _________ Commission file number 1-05129 MOOG Inc. (Exact ...