Table of Content UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________ to ____________________ Commission file number 001-34762 FIRST FINANCIAL BANCORP /OH/ (Exact name of registrant as specified in its charter) Ohio ...

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 June 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 000-09439 INTERNATIONAL BANCSHARES CORPORATION (Exact name of registrant as specified in its charter) incorporation or organization) Texas 74-21 ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 Or UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☐ 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: 000-09068 WEYCO GROUP, INC. (Exact name of registrant as specified in its ch ...

[PART I – FINANCIAL INFORMATION](index=5&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) This section presents the company's financial statements, management's discussion and analysis, market risk disclosures, and internal controls for the interim period [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The company achieved significant growth in Q2 and H1 2025, with net sales up 12% and net earnings rising to $222.4 million, alongside improved cash flow and increased total assets Condensed Consolidated Statements of Earnings Highlights (in millions, except per share data) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Total net sales** | $876.6 | $784.8 | $1,682.2 | $1,498.0 | | **Gross profit** | $326.2 | $284.1 | $618.6 | $537.9 | | **Operating income** | $156.3 | $128.9 | $285.5 | $228.9 | | **Net earnings** | $121.1 | $99.5 | $222.4 | $176.0 | | **Diluted earnings per share** | $3.19 | $2.58 | $5.87 | $4.58 | Condensed Consolidated Balance Sheet Highlights (in millions) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $331.7 | $385.0 | | Total current assets | $2,000.0 | $1,850.0 | | Goodwill | $1,698.6 | $1,675.7 | | **Total assets** | **$5,194.5** | **$4,985.7** | | Total current liabilities | $1,026.5 | $1,095.9 | | Long-term debt | $958.4 | $958.9 | | **Total liabilities** | **$2,482.8** | **$2,535.9** | | **Total stockholders' equity** | **$2,711.7** | **$2,449.8** | Condensed Consolidated Statements of Cash Flows Highlights (in millions) | Cash Flow Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $97.8 | $65.7 | | Net cash used for investing activities | ($36.6) | ($56.7) | | Net cash used for financing activities | ($127.6) | ($27.6) | | Net decrease in cash and cash equivalents | ($53.4) | ($24.3) | [Note 1: Basis of Presentation](index=11&type=section&id=1.%20BASIS%20OF%20PRESENTATION) Financial statements adhere to SEC interim reporting rules, reflecting the company's global A&D and commercial markets business, with ASU 2023-07 adopted for segment reporting - The company provides highly engineered products, solutions, and services primarily to aerospace & defense (A&D) markets, as well as commercial power, process, and industrial markets[27](index=27&type=chunk) - The company adopted ASU 2023-07, which enhances disclosures for reportable segments, as of December 31, 2024, requiring disclosure of significant segment expenses provided to the chief operating decision-maker[32](index=32&type=chunk) [Note 2: Revenue](index=11&type=section&id=2.%20REVENUE) Revenue recognition is based on control transfer, with H1 2025 sales split between over-time and point-in-time, and a $3.9 billion backlog primarily from A&D markets - Total contract backlog was approximately **$3.9 billion** as of June 30, 2025, with the company expecting to recognize about **90%** of this backlog as net sales within the next 36 months[40](index=40&type=chunk) Revenue Recognition Timing (% of Revenue) | Period | Over-time | Point-in-time | | :--- | :--- | :--- | | **Q2 2025** | 51% | 49% | | **Q2 2024** | 50% | 50% | | **H1 2025** | 52% | 48% | | **H1 2024** | 50% | 50% | Total Net Sales by End Market (in millions) | End Market | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Total Aerospace & Defense** | **$1,171.5** | **$1,032.5** | | Aerospace Defense | $319.3 | $286.2 | | Ground Defense | $194.8 | $175.7 | | Naval Defense | $461.2 | $387.5 | | Commercial Aerospace | $196.2 | $183.1 | | **Total Commercial** | **$510.8** | **$465.5** | | Power & Process | $306.4 | $262.6 | | General Industrial | $204.4 | $202.9 | [Note 3: Acquisitions](index=13&type=section&id=3.%20ACQUISITIONS) No new acquisitions occurred in H1 2025, but 2024 acquisitions contributed $44 million in sales and a $3 million net loss, primarily in the Naval & Power segment - The company did not complete any acquisitions during the six months ended June 30, 2025[46](index=46&type=chunk) - The two businesses acquired in 2024 contributed **$44 million** in net sales and a **$3 million** net loss for the six months ended June 30, 2025[46](index=46&type=chunk) - In 2024, the company acquired WSC Inc. for **$34 million** and Ultra Energy for **$201 million**, with both acquisitions operating in the Naval & Power segment[51](index=51&type=chunk)[52](index=52&type=chunk) [Note 11: Segment Information](index=17&type=section&id=11.%20SEGMENT%20INFORMATION) The company's three segments—Aerospace & Industrial, Defense Electronics, and Naval & Power—all reported sales and operating income growth in H1 2025 Net Sales by Segment (in millions) | Segment | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Aerospace & Industrial | $466.8 | $453.1 | | Defense Electronics | $499.9 | $441.7 | | Naval & Power | $717.9 | $605.4 | | **Total Net Sales** | **$1,682.2** | **$1,498.0** | Operating Income by Segment (in millions) | Segment | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Aerospace & Industrial | $68.9 | $62.7 | | Defense Electronics | $135.3 | $106.3 | | Naval & Power | $102.3 | $81.5 | | **Total Segment Operating Income** | **$306.5** | **$250.5** | [Note 14: Restructuring Costs](index=20&type=section&id=14.%20RESTRUCTURING%20COSTS) The 2024 Restructuring Program is largely complete, with H1 2025 pre-tax charges decreasing to $2.0 million and a remaining liability of $1.1 million - The 2024 Restructuring Program, involving workforce reductions and facility consolidation, is substantially complete as of June 30, 2025[83](index=83&type=chunk) Restructuring Charges and Liability (in millions) | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Pre-tax Charges | $2.0 | $4.3 | | **Liability Balance (as of June 30)** | **$1.1** | **N/A** | [Note 15: Subsequent Events](index=20&type=section&id=15.%20SUBSEQUENT%20EVENTS) The One Big Beautiful Bill Act (OBBBA), enacted July 4, 2025, is expected to reduce 2025 estimated tax payments by $15 million due to R&D expensing - The newly enacted One Big Beautiful Bill Act (OBBBA) is expected to reduce the company's 2025 estimated tax payments by approximately **$15 million** due to immediate expensing of R&D[84](index=84&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reported strong Q2 and H1 2025 financial performance, with total sales up 12%, operating income growing 25% to $286 million, and robust liquidity [Results of Operations](index=23&type=section&id=Results%20of%20Operations) H1 2025 total sales increased 12% to $1.68 billion, with operating income up 25% to $286 million and net earnings rising 26% to $222.4 million Components of Sales and Operating Income Change (H1 2025 vs. H1 2024) | Component | Sales Change | Operating Income Change | | :--- | :--- | :--- | | Organic | 10% | 23% | | Acquisitions | 2% | (1%) | | Restructuring | —% | 1% | | Foreign currency | —% | 2% | | **Total** | **12%** | **25%** | - For the six months ended June 30, 2025, operating income increased **25%** to **$286 million**, and operating margin expanded by **170 basis points** to **17.0%**, driven by increases across all segments[100](index=100&type=chunk) - New orders for the first six months of 2025 increased **6%** year-over-year to **$2.02 billion**[96](index=96&type=chunk) [Results by Business Segment](index=26&type=section&id=Results%20by%20Business%20Segment) All three business segments—Aerospace & Industrial, Defense Electronics, and Naval & Power—achieved sales and operating income growth in H1 2025 - **Aerospace & Industrial:** H1 2025 sales increased **3%** to **$466 million**, and operating income rose **10%** to **$69 million**, driven by higher demand for OEM sensors and surface treatment services in commercial aerospace[110](index=110&type=chunk)[112](index=112&type=chunk)[114](index=114&type=chunk) - **Defense Electronics:** H1 2025 sales grew **13%** to **$498 million**, with operating income up **27%** to **$135 million**, fueled by strong demand for embedded computing equipment and tactical communications for defense programs[117](index=117&type=chunk)[119](index=119&type=chunk)[121](index=121&type=chunk) - **Naval & Power:** H1 2025 sales increased **19%** to **$718 million**, and operating income grew **26%** to **$102 million**, driven by higher demand on submarine programs and the incremental impact of the Ultra Energy and WSC acquisitions[124](index=124&type=chunk)[126](index=126&type=chunk)[130](index=130&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity, with operating cash flow increasing to $97.8 million in H1 2025, supported by substantial available credit and debt covenant compliance - Net cash provided by operating activities increased by **$32 million** to **$97.8 million** for the first six months of 2025, mainly due to higher cash earnings[140](index=140&type=chunk) - During H1 2025, the company repurchased approximately **102,000 shares** of its common stock for **$35 million**[146](index=146&type=chunk) - As of June 30, 2025, the company had **$723 million** available under its credit facility and could borrow an additional **$3.0 billion** without violating its debt to capitalization covenant[145](index=145&type=chunk)[149](index=149&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material changes in the company's market risk occurred during the first six months of 2025 - There have been no material changes in the company's market risk during the first six months of 2025[154](index=154&type=chunk) [Item 4. Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal controls - Based on an evaluation as of June 30, 2025, the CEO and CFO concluded that the company's disclosure controls and procedures are effective[155](index=155&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended June 30, 2025, that have materially affected or are likely to materially affect internal controls[156](index=156&type=chunk) [PART II – OTHER INFORMATION](index=34&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity sales, defaults, safety disclosures, other information, and exhibits [Item 1. Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings, including asbestos claims, but does not anticipate a material adverse financial impact - The company does not expect any ongoing legal proceedings, including asbestos claims, to have a material adverse effect on its financial condition, citing minimal historical use of asbestos and adequate insurance coverage[159](index=159&type=chunk)[160](index=160&type=chunk) [Item 1A. Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors occurred during the first six months of 2025 - There have been no material changes in the company's Risk Factors during the first six months of 2025[161](index=161&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=34&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 59,501 shares of common stock in Q2 2025 for an average of $346.01 per share, with $125.3 million remaining for future repurchases Share Repurchases for the Quarter Ended June 30, 2025 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2025 | 36,792 | $295.10 | | May 2025 | 12,520 | $398.15 | | June 2025 | 10,189 | $465.80 | | **Total Q2 2025** | **59,501** | **$346.01** | - As of June 30, 2025, **$125.3 million** remained available for share repurchases under the company's announced program[163](index=163&type=chunk) [Item 3. Defaults upon Senior Securities](index=34&type=section&id=Item%203.%20Defaults%20upon%20Senior%20Securities) The company reported no defaults on its senior securities - None[164](index=164&type=chunk) [Item 4. Mine Safety Disclosures](index=35&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - Not applicable[165](index=165&type=chunk) [Item 5. Other Information](index=35&type=section&id=Item%205.%20Other%20Information) No material changes occurred in director nomination procedures or Rule 10b5-1 trading arrangements for directors and officers in H1 2025 - There have been no material changes in the procedures for security holders to recommend director nominees[166](index=166&type=chunk) - No directors or officers adopted, modified, or terminated a Rule 10b5-1 trading arrangement during the first six months of 2025[167](index=167&type=chunk) [Item 6. Exhibits](index=36&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including certifications and XBRL data

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 ☐ 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: 001-36307 Installed Building Products, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3707650 (State or other jurisdiction of incorporation or orga ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 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 001-40379 FIVE STAR BANCORP (Exact name of Registrant as specified in its charter) California 75-3100966 (St ...

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 June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 0-18082 GREAT SOUTHERN BANCORP, INC. (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1451 E. Battlefield, Springfield, Missouri 6 ...

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 June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 001-13227 CAMDEN NATIONAL CORPORATION (Exact name of registrant as specified in its charter) Maine 01-0413282 (State or other jurisdiction of (I.R.S. Employer incorporation or organ ...

NEWS RELEASE CONTACT: Kent Yee Senior Vice President, CFO 713-996-4700 www.dxpe.com DXP ENTERPRISES, INC. REPORTS SECOND QUARTER 2025 RESULTS Houston, TX – August 6, 2025 – DXP Enterprises, Inc. ("DXP" or the "Company") (NASDAQ: DXPE) today announced financial results for the second quarter ended June 30, 2025. The following are results for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, and March 31, 2025, where appropriate. A reconciliation of the non-GAAP financial ...

[PART I - FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Condensed Consolidated Financial Statements (Unaudited)](index=3&type=section&id=ITEM%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) The unaudited financial statements present the company's financial position, results of operations, and cash flows for the periods ended June 30, 2025 [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets grew to $607.2 million, driven by a significant increase in cash and cash equivalents Condensed Consolidated Balance Sheet Highlights (In thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $211,632 | $183,763 | | Cash and cash equivalents | $85,049 | $41,309 | | Inventory, net | $100,196 | $112,968 | | **Total Assets** | **$607,160** | **$594,520** | | **Total Current Liabilities** | $40,083 | $38,003 | | **Total Liabilities** | **$123,323** | **$120,128** | | **Total Stockholders' Equity** | **$483,837** | **$474,392** | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company returned to profitability with a net income of $7.9 million, driven by a 20% increase in sales Condensed Consolidated Statements of Operations Highlights (In thousands, except per share amounts) | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Sales | $169,232 | $141,342 | | Gross Margin | $28,889 | $14,058 | | Operating Income (Loss) | $8,292 | $(5,934) | | Net Income (Loss) | $7,869 | $(3,963) | | Diluted EPS | $0.60 | $(0.31) | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations was $50.9 million, and lower capital expenditures led to a decrease in cash used for investing Cash Flow Summary (In thousands) | Cash Flow Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $50,860 | $69,278 | | Net cash used in investing activities | $(5,798) | $(16,407) | | Net cash used in financing activities | $(1,318) | $(5,275) | | **Net Change in Cash** | **$43,744** | **$47,596** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail business segments, revenue sources, and significant legal contingencies including lawsuits and environmental liabilities - The company operates in three segments: potash, Trio®, and oilfield solutions, producing potassium, magnesium, sulfur, salt, and water products[16](index=16&type=chunk)[18](index=18&type=chunk) - A class action lawsuit was filed alleging failure to properly compensate employees for donning and doffing personal protective equipment, with alleged damages **exceeding $5.0 million**[70](index=70&type=chunk) - Following a final court decision invalidating certain water rights, the company must repay for water sold under previous authorizations, though the form and amount are uncertain[71](index=71&type=chunk)[72](index=72&type=chunk)[73](index=73&type=chunk) - In May 2025, the company reported an unpermitted brine discharge and has recorded an **estimated liability of $2.2 million** for potential penalties and $0.1 million for remediation[74](index=74&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=28&type=section&id=ITEM%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes financial results, highlighting a return to profitability driven by strong Trio® performance and higher potash volumes [Significant Business Trends and Activities](index=31&type=section&id=Significant%20Business%20Trends%20and%20Activities) Key trends include lower potash prices offset by higher volumes, strong Trio® pricing, and declining water sales - Potash average net realized sales price per ton decreased in Q2 and H1 2025 compared to 2024, but **sales volumes increased significantly** due to improved production and strong demand[103](index=103&type=chunk) - Trio® average net realized sales price per ton and sales volumes **both increased** in Q2 and H1 2025 compared to 2024, driven by rising potash and sulfate prices and strong demand[107](index=107&type=chunk) - Water sales **declined sharply** in 2025 as the oil and gas market trends towards using more recycled water[107](index=107&type=chunk) - Above-average rainfall and lack of anticipated brine are expected to **reduce 2026 production** from the HB facility by a combined total of approximately 45,000 tons[109](index=109&type=chunk)[110](index=110&type=chunk) [Consolidated Results](index=33&type=section&id=Consolidated%20Results) The company's net income reached $7.9 million, reversing a prior-year loss, driven by a 20% sales increase and doubled gross margin Consolidated Results Summary (In thousands) | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Sales | $169,232 | $141,342 | | Gross Margin | $28,889 | $14,058 | | Net Income (Loss) | $7,869 | $(3,963) | Average Net Realized Sales Price Per Ton | Product | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Potash | $332 | $399 | | Trio® | $352 | $306 | [Segment Results](index=37&type=section&id=Segment%20Results) The Trio® segment's gross margin surged to $18.5 million, offsetting declines in the Potash and Oilfield Solutions segments Potash Segment Performance (Six Months Ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Sales (in thousands) | $77,571 | $67,610 | | Gross Margin (in thousands) | $7,361 | $8,886 | | Sales Volumes (in k tons) | 172 | 129 | | Avg. Net Realized Price/ton | $332 | $399 | Trio® Segment Performance (Six Months Ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Sales (in thousands) | $83,054 | $63,010 | | Gross Margin (in thousands) | $18,520 | $1,043 | | Sales Volumes (in k tons) | 181 | 154 | | Avg. Net Realized Price/ton | $352 | $306 | Oilfield Solutions Segment Performance (Six Months Ended June 30, in thousands) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Sales | $8,724 | $10,862 | | Gross Margin | $3,008 | $4,129 | [Liquidity and Capital Resources](index=44&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position with $85.0 million in cash and no outstanding debt on its credit facility - Cash and cash equivalents **increased to $85.0 million** as of June 30, 2025, from $41.3 million at December 31, 2024[177](index=177&type=chunk) - The company has a **$150 million revolving credit facility** with no borrowings outstanding as of June 30, 2025[181](index=181&type=chunk)[183](index=183&type=chunk) - Expected capital investments for 2025 are between **$32 million and $37 million**, primarily for sustaining capital[176](index=176&type=chunk) - **No shares were repurchased** in the first six months of 2025 under the share repurchase program, which has approximately $13 million remaining[185](index=185&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=48&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) There have been no material changes to the company's market risk exposure since year-end 2024 - There have been **no material changes** to the company's market risk exposure since December 31, 2024[191](index=191&type=chunk) [Controls and Procedures](index=48&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal controls - The principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were **effective** as of June 30, 2025[192](index=192&type=chunk) - **No changes occurred** in internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, these controls[193](index=193&type=chunk) [PART II - OTHER INFORMATION](index=49&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings](index=49&type=section&id=ITEM%201.%20Legal%20Proceedings) This section refers to Note 14 for details on legal matters, including lawsuits and contingent liabilities - For details on legal proceedings, the report directs readers to **Note 14** in Part I, Item 1[196](index=196&type=chunk) [Risk Factors](index=50&type=section&id=ITEM%201A.%20Risk%20Factors) The company highlights expanded risks related to U.S. tariffs and their potential impact on costs and customer demand - The company highlights the risk from changes in laws, particularly the **uncertainty surrounding U.S. tariffs** announced in April 2025 and potential retaliatory tariffs[199](index=199&type=chunk)[200](index=200&type=chunk) - Tariffs could affect **raw material costs and availability**, influence customer purchasing decisions, and increase overall operating costs[200](index=200&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=51&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company withheld shares to cover employee taxes on vested stock but made no repurchases under its formal program Issuer Purchases of Equity Securities (Q2 2025) | Period | Total Shares Purchased | Average Price Paid Per Share | Purchased as Part of Program | Remaining Program Value | | :--- | :--- | :--- | :--- | :--- | | April 2025 | 3,791 | $29.63 | — | $12,987,86 | | May 2025 | 1,881 | $32.57 | — | $12,987,86 | | June 2025 | — | $— | — | $12,987,86 | | **Total** | **5,672** | **$30.61** | **—** | **$12,987,86** | - The shares purchased were withheld to cover employee taxes on vested restricted stock and were **not part of the formal share repurchase program**[203](index=203&type=chunk) [Mine Safety Disclosures](index=51&type=section&id=ITEM%204.%20Mine%20Safety%20Disclosures) The company provides required mine safety disclosures for its MSHA-regulated facilities in Exhibit 95.1 - The company's New Mexico facilities are regulated by MSHA, and required mine safety violation information is provided in **Exhibit 95.1**[206](index=206&type=chunk)