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Ralph Lauren(RL) - 2026 Q1 - Quarterly Report
2025-08-07 14:56
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 June 28, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-13057 Ralph Lauren Corporation (Exact name of registrant as specified in its charter) Delaware 13-2622036 Indicate by check mark whether the registrant has submit ...
Sempra(SRE) - 2025 Q2 - Quarterly Results
2025-08-07 14:52
NEWS RELEASE Sempra Reports Second-Quarter 2025 Results SAN DIEGO, Aug. 7, 2025 — Sempra (NYSE: SRE) today reported second-quarter 2025 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $461 million or $0.71 per diluted share, compared to second-quarter 2024 GAAP earnings of $713 million or $1.12 per diluted share. On an adjusted basis, second-quarter 2025 earnings were $583 million or $0.89 per diluted share, compared to $567 million or $0.89 per diluted share in 202 ...
Deluxe(DLX) - 2025 Q2 - Quarterly Report
2025-08-07 14:49
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 June 30, 2025 ☐ 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: 1-7945 DELUXE CORPORATION (Exact name of registrant as specified in its charter) MN 41-0216800 (I.R.S. Employer ...
Cogent(CCOI) - 2025 Q2 - Quarterly Report
2025-08-07 14:49
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 June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 46-5706863 Identification Number) 2450 N Street N.W. Washington, D.C. 20037 (Address of Principal Executive Offices and Zip Code) (202) 295-4200 (Registrant's Telephone Numbe ...
Suburban Propane(SPH) - 2025 Q3 - Quarterly Report
2025-08-07 14:25
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 June 28, 2025 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 1-14222 SUBURBAN PROPANE PARTNERS, L.P. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer Delaware 22-341035 ...
Farmers National Banc(FMNB) - 2025 Q2 - Quarterly Report
2025-08-07 14:23
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 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly period ended June 30, 2025 Commission file number 001-35296 FARMERS NATIONAL BANC CORP. (Exact name of registrant as specified in its charter) OHIO 34-1371693 (State or other jurisdiction of incorporation or or ...
Chevron(CVX) - 2025 Q2 - Quarterly Report
2025-08-07 14:18
[PART I FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) This section presents Chevron's comprehensive financial information, including consolidated statements, management's analysis, market risk disclosures, and internal controls [Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) This section presents Chevron's consolidated financial statements, including income, balance sheet, and cash flow, highlighting a decrease in net income and total assets for the first half of 2025 [Consolidated Statement of Income](index=4&type=section&id=Consolidated%20Statement%20of%20Income) Chevron reported a significant decrease in net income and diluted EPS for Q2 and the first six months of 2025, primarily due to lower revenues Consolidated Statement of Income Highlights (in Millions, except per-share amounts) | Metric | Q2 2025 | Q2 2024 | Change | Six Months 2025 | Six Months 2024 | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Revenues and Other Income** | $44,822 | $51,181 | -12.4% | $92,432 | $99,897 | -7.5% | | **Net Income Attributable to Chevron** | $2,490 | $4,434 | -43.8% | $5,990 | $9,935 | -39.7% | | **Diluted EPS** | $1.45 | $2.43 | -40.3% | $3.45 | $5.40 | -36.1% | [Consolidated Balance Sheet](index=6&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2025, Chevron's total assets and stockholders' equity decreased, primarily due to reduced cash and share repurchases, while total liabilities remained stable Consolidated Balance Sheet Highlights (in Millions) | Metric | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $34,691 | $40,911 | | **Total Assets** | $250,820 | $256,938 | | **Total Current Liabilities** | $34,827 | $38,558 | | **Long-Term Debt** | $23,276 | $20,135 | | **Total Liabilities** | $103,562 | $103,781 | | **Total Chevron Stockholders' Equity** | $146,417 | $152,318 | [Consolidated Statement of Cash Flows](index=7&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) Net cash from operations increased slightly for the first half of 2025, while investing activities saw higher outflows due to the Hess acquisition, and financing outflows decreased Consolidated Statement of Cash Flows Highlights (Six Months Ended June 30, in Millions) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | **Net Cash Provided by Operating Activities** | $13,765 | $13,123 | | **Net Cash Used for Investing Activities** | ($9,050) | ($7,910) | | **Net Cash Used for Financing Activities** | ($7,649) | ($9,428) | | **Net Change in Cash** | ($2,887) | ($4,310) | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Detailed notes reveal significant decreases in Upstream earnings, ongoing litigation, the completion of the Hess acquisition, and the issuance of new long-term debt - On July 18, 2025, the company completed the acquisition of Hess Corporation for an aggregate purchase price of approximately **$48 billion**, including assumed debt of **$8.8 billion**[101](index=101&type=chunk)[102](index=102&type=chunk) - The company is a defendant in **33 climate change-related lawsuits** across the U.S. and **37 coastal erosion lawsuits** in Louisiana, with a **$131 million** accrual for one case despite plans to appeal[59](index=59&type=chunk)[60](index=60&type=chunk) - In Q1 2025, the company issued **$5.5 billion** in new long-term debt, with maturities ranging from 2027 to 2035[99](index=99&type=chunk)[100](index=100&type=chunk) Earnings by Segment (Six Months Ended June 30, in Millions) | Segment | 2025 | 2024 | | :--- | :--- | :--- | | **Upstream** | $6,485 | $9,709 | | **Downstream** | $1,062 | $1,380 | | **All Other** | ($1,557) | ($1,154) | | **Net Income Attributable to Chevron** | **$5,990** | **$9,935** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the decline in Q2 2025 earnings driven by Upstream factors, partially offset by Downstream gains, while highlighting strategic initiatives, a strong financial position, and capital management [Results of Operations](index=35&type=section&id=Results%20of%20Operations) Q2 2025 saw a significant decline in Upstream earnings due to lower prices and affiliate contributions, while Downstream earnings improved, and 'All Other' charges increased Upstream Earnings (Q2 2025 vs Q2 2024, in Millions) | Segment | Q2 2025 Earnings | Q2 2024 Earnings | Key Drivers | | :--- | :--- | :--- | :--- | | **U.S. Upstream** | $1,418 | $2,161 | Lower liquids realizations (-$1.0B), partly offset by higher sales volumes (+$380M) | | **International Upstream** | $1,309 | $2,309 | Lower affiliate earnings at TCO (-$550M), lower liftings (-$320M), and lower liquids realizations (-$250M) | Downstream Earnings (Q2 2025 vs Q2 2024, in Millions) | Segment | Q2 2025 Earnings | Q2 2024 Earnings | Key Drivers | | :--- | :--- | :--- | :--- | | **U.S. Downstream** | $404 | $280 | Higher refined product margins (+$140M) and lower opex (+$100M), partly offset by lower CPChem earnings (-$150M) | | **International Downstream** | $333 | $317 | Higher refined product margins (+$190M), offset by unfavorable tax impacts (-$70M) and currency effects (-$101M) | - Net charges for 'All Other' increased by **$341 million** in Q2 2025 compared to Q2 2024, primarily due to an unfavorable fair market valuation adjustment for Hess shares, higher interest expense, and pension curtailment costs[170](index=170&type=chunk) [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) Chevron's liquidity includes $4.1 billion in cash, with total debt increasing to $29.5 billion, while the company generated strong operating cash flow, paid dividends, and continued share repurchases Key Financial Ratios and Metrics | Metric | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Total Debt** | $29.5 Billion | $24.5 Billion | | **Net Debt Ratio** | 14.8% | 10.4% | | **Free Cash Flow (H1)** | $6.1 Billion | $5.1 Billion (H1 2024) | - Capital expenditures for the first six months of 2025 were **$7.6 billion**, down from **$8.1 billion** in the same period of 2024[203](index=203&type=chunk) - The company repurchased **18.6 million shares** for **$2.6 billion** in Q2 2025 and expects to repurchase **$2.5-$3.0 billion** in Q3 2025[199](index=199&type=chunk) - Dividends of **$5.9 billion** were paid to common stockholders during the first six months of 2025, and a quarterly dividend of **$1.71 per share** was declared for Q3 2025[192](index=192&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes in its market risk disclosures for the six months ended June 30, 2025, compared to the information provided in its 2024 Annual Report on Form 10-K - Information about market risks for the six months ended June 30, 2025, does not differ materially from that discussed in Chevron's 2024 Annual Report on Form 10-K[207](index=207&type=chunk) [Controls and Procedures](index=46&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 control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2025[208](index=208&type=chunk) - There were no material changes in the company's internal control over financial reporting during the quarter ended June 30, 2025[209](index=209&type=chunk) [PART II OTHER INFORMATION](index=47&type=section&id=PART%20II%20OTHER%20INFORMATION) This section details legal proceedings, new risk factors, equity security sales, and other general corporate information [Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) Chevron reports a new legal proceeding from the ECMC with a potential $1.0 million civil penalty, in addition to ongoing climate change and coastal erosion lawsuits - On June 26, 2025, the Colorado Energy & Carbon Management Commission (ECMC) issued a notice of alleged violations following a well control incident, which may result in a civil penalty of **$1.0 million or more**[212](index=212&type=chunk) - The report references Note 11 for details on other significant legal proceedings, including climate change and Louisiana coastal lawsuits[212](index=212&type=chunk) [Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor highlights the potential failure to successfully integrate the Hess acquisition and realize anticipated benefits, which could negatively impact financial results - A new risk factor has been added concerning the Hess acquisition, which closed in July 2025[214](index=214&type=chunk) - Key risks include the potential failure to successfully integrate Hess and realize anticipated benefits, such as cost synergies and production growth, which could disrupt plans and negatively affect financial results[214](index=214&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=47&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2025, Chevron repurchased 18.6 million shares for $2.6 billion as part of its $75 billion stock repurchase program, with $42.1 billion remaining authorized Issuer Purchases of Equity Securities (Q2 2025) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2025 | 11,783,184 | $140.41 | | May 2025 | 6,837,101 | $137.88 | | June 2025 | 635 | $144.01 | | **Total** | **18,620,920** | **$139.48** | - As of the end of Q2 2025, approximately **$42.1 billion** remained authorized for repurchase under the 2023 Program[216](index=216&type=chunk) [Other Information](index=48&type=section&id=Item%205.%20Other%20Information) The company reports that during the three months ended June 30, 2025, none of its directors or executive officers adopted, modified, or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement - No directors or executive officers adopted, modified, or terminated a Rule 10b5-1 trading plan during the second quarter of 2025[217](index=217&type=chunk) [Exhibits](index=48&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including the Restated Certificate of Incorporation, CEO and CFO certifications, and Interactive Data Files (Inline XBRL) - Filed exhibits include CEO and CFO certifications under Sarbanes-Oxley rules[218](index=218&type=chunk) - The report includes Interactive Data Files (Inline XBRL) as Exhibit 101[218](index=218&type=chunk)
PCA(PKG) - 2025 Q2 - Quarterly Report
2025-08-07 14:14
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 1-15399 (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organization) 1 North Field Cour ...
Aemetis(AMTX) - 2025 Q2 - Quarterly Report
2025-08-07 14:05
PART I [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements.) Aemetis, Inc.'s Q2 2025 unaudited financials reflect decreased assets, increased current liabilities from debt reclassification, an improved net loss, and a 'going concern' warning due to significant debt and lender reliance [Consolidated Condensed Balance Sheets](index=4&type=section&id=CONSOLIDATED%20CONDENSED%20BALANCE%20SHEETS) As of June 30, 2025, total assets were $240.0 million, a decrease from $259.3 million at year-end 2024, with current liabilities sharply rising to $321.9 million from $144.0 million due to debt reclassification, worsening the total stockholders' deficit to $289.3 million Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $20,086 | $44,696 | | **Total Assets** | $240,016 | $259,302 | | **Total Current Liabilities** | $321,927 | $143,968 | | **Total Liabilities** | $529,271 | $523,230 | | **Total Stockholders' Deficit** | $(289,255) | $(263,928) | [Consolidated Condensed Statements of Operations](index=5&type=section&id=CONSOLIDATED%20CONDENSED%20STATEMENTS%20OF%20OPERATIONS%20AND%20COMPREHENSIVE%20INCOME%20(LOSS)) For the three months ended June 30, 2025, revenues decreased to $52.2 million from $66.6 million year-over-year, resulting in a worsening gross loss of $3.4 million, though the net loss improved to $23.4 million, or ($0.41) per share, primarily due to lower SG&A expenses Q2 2025 vs Q2 2024 Performance (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Revenues** | $52,243 | $66,561 | | **Gross Loss** | $(3,355) | $(1,806) | | **Operating Loss** | $(10,674) | $(13,606) | | **Net Loss** | $(23,395) | $(29,174) | | **Net Loss Per Share (Basic)** | $(0.41) | $(0.66) | Six Months 2025 vs 2024 Performance (in thousands, except per share data) | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | **Revenues** | $95,129 | $139,195 | | **Gross Loss** | $(8,435) | $(2,418) | | **Operating Loss** | $(26,229) | $(23,068) | | **Net Loss** | $(47,924) | $(53,405) | | **Net Loss Per Share (Basic)** | $(0.87) | $(1.24) | [Consolidated Condensed Statements of Cash Flows](index=6&type=section&id=CONSOLIDATED%20CONDENSED%20STATEMENTS%20OF%20CASH%20FLOWS) For the six months ended June 30, 2025, net cash used in operating activities significantly improved to $5.6 million, while net cash provided by financing activities was $11.3 million, primarily from stock sales and new borrowings, leading to an overall increase of $0.8 million in cash and cash equivalents Six-Month Cash Flow Summary (in thousands) | Cash Flow Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Net Cash Used in Operating Activities** | $(5,577) | $(15,372) | | **Net Cash Used in Investing Activities** | $(4,939) | $(5,935) | | **Net Cash Provided by Financing Activities** | $11,268 | $18,743 | | **Net Change in Cash** | $759 | $(2,538) | [Notes to Consolidated Condensed Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Condensed%20Financial%20Statements) The notes detail the company's operational segments, accounting policies, and financial position, including significant debt obligations and a critical disclosure on liquidity and going concern, highlighting substantial operational and financial risks - The company operates in three main segments: California Ethanol, California Dairy Renewable Natural Gas (RNG), and India Biodiesel, while also developing projects in Sustainable Aviation Fuel (SAF), Renewable Diesel (RD), and Carbon Capture and Underground Sequestration (CCUS)[25](index=25&type=chunk)[26](index=26&type=chunk)[27](index=27&type=chunk) - Total debt stood at **$344.2 million** as of June 30, 2025, with a significant portion of **$270.6 million** due within the next twelve months, highlighting near-term refinancing risk[45](index=45&type=chunk)[58](index=58&type=chunk) - The company has concluded that there is substantial doubt about its ability to continue as a going concern due to its significant debt, reliance on its senior lender, and expected near-term cash flow shortfalls[112](index=112&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses a **21.5% decrease** in Q2 2025 revenue, primarily from India Biodiesel, offset by strong California Dairy RNG growth, while liquidity remains a critical concern due to debt and lender reliance, despite outlined strategies for cash flow improvement - The company is focused on building a circular bioeconomy using agricultural products and waste to produce low-carbon renewable fuels[115](index=115&type=chunk) - Key strategic initiatives to improve liquidity include constructing a Mechanical Vapor Recompression (MVR) system to reduce natural gas use, building new dairy digesters for RNG production, and monetizing new Section 45Z tax credits for both ethanol and RNG[101](index=101&type=chunk)[105](index=105&type=chunk)[102](index=102&type=chunk) - Despite plans to improve liquidity, management reiterates that substantial doubt exists about the company's ability to continue as a going concern due to its debt levels and reliance on its senior lender[112](index=112&type=chunk) [Results of Operations](index=35&type=section&id=Results%20of%20Operations) Comparing Q2 2025 to Q2 2024, total revenues fell by $14.3 million (**21.5%**) to $52.2 million, driven by a $12.9 million decrease in India Biodiesel sales, while California Dairy RNG revenue grew by $1.5 million (**90.9%**), and the total gross loss increased to $3.4 million Revenues by Segment - Q2 2025 vs Q2 2024 (in thousands) | Segment | Q2 2025 | Q2 2024 | Change (%) | | :--- | :--- | :--- | :--- | | California Ethanol | $37,288 | $40,132 | (7.1)% | | California Dairy RNG | $3,051 | $1,598 | 90.9% | | India Biodiesel | $11,904 | $24,831 | (52.1)% | | **Total** | **$52,243** | **$66,561** | **(21.5)%** | Gross Profit (Loss) by Segment - Q2 2025 vs Q2 2024 (in thousands) | Segment | Q2 2025 | Q2 2024 | Change (%) | | :--- | :--- | :--- | :--- | | California Ethanol | $(3,806) | $(3,921) | (2.9)% | | California Dairy RNG | $855 | $(136) | (728.7)% | | India Biodiesel | $(404) | $2,251 | (117.9)% | | **Total** | **$(3,355)** | **$(1,806)** | **85.8%** | - The decrease in SG&A expense was primarily due to a one-time **$3.6 million** loss on an asset write-off in Q2 2024, which was not repeated in Q2 2025[140](index=140&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity position is precarious, with cash and cash equivalents at only $1.6 million and a current ratio of 0.06 as of June 30, 2025, relying heavily on equity sales and debt, including **$225.7 million** with its senior lender, Third Eye Capital, with significant maturities in 2026 - Cash and cash equivalents were **$1.6 million** at June 30, 2025, with a current ratio of **0.06**, indicating severe short-term liquidity pressure[152](index=152&type=chunk) - The company is highly dependent on its senior lender, Third Eye Capital, for continued financing and amendments to its debt facilities, with debt totaling **$225.7 million** as of June 30, 2025, including **$45.6 million** due on demand and **$152.4 million** due in April 2026[157](index=157&type=chunk)[159](index=159&type=chunk) - During the six months ended June 30, 2025, the company sold **10.0 million** shares of common stock for net proceeds of **$18.0 million** through its at-the-market offering[164](index=164&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=42&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk.) This item is marked as 'Not applicable' in the report, indicating no new or materially changed information to disclose regarding market risk compared to the last annual report - The company has indicated that this section is not applicable for this reporting period[168](index=168&type=chunk) [Controls and Procedures](index=42&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were not effective as of June 30, 2025, due to previously identified material weaknesses in IT general controls and financial reporting systems, with remediation plans currently in progress - The CEO and CFO concluded that disclosure controls and procedures were not effective as of the end of the period[169](index=169&type=chunk) - The ineffectiveness is due to material weaknesses related to IT general controls and financial reporting systems, as identified in the 2024 Form 10-K[169](index=169&type=chunk)[171](index=171&type=chunk) - Remediation plans to address the material weaknesses are in progress[171](index=171&type=chunk) PART II [Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings.) The company reported no legal proceedings for the period - None reported[172](index=172&type=chunk) [Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors.) This item is marked as 'Not applicable,' indicating no material changes from the risk factors previously disclosed in the company's Annual Report on Form 10-K - Not applicable[173](index=173&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) During the second quarter of 2025, the company issued warrants to two subordinated lenders to purchase **113,000 shares** of common stock at $0.01 per share in connection with debt extensions, and also issued **29,240 shares** to a vendor for services, with these issuances exempt from registration under Section 4(2) of the Securities Act of 1933 - Issued warrants to purchase **113,000 shares** to subordinated lenders as part of debt extension agreements[174](index=174&type=chunk) - Issued **29,240 shares** of common stock to a vendor for services[175](index=175&type=chunk) [Defaults Upon Senior Securities](index=44&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities.) The company reported no unresolved defaults on its senior securities during the six months ended June 30, 2025 - No unresolved defaults on senior securities occurred during the period[176](index=176&type=chunk) [Signatures](index=46&type=section&id=Signatures) - The report was signed on August 7, 2025, by Eric A. McAfee, Chairman and CEO, and Todd A. Waltz, Executive Vice President and CFO[183](index=183&type=chunk)
Spectrum Brands(SPB) - 2025 Q3 - Quarterly Report
2025-08-07 14:05
Table of Contents ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to______ 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 29, 2025 OR | Commission File No. | Name of Registrant, State of Incorporation, Address of Principal Offices, and Telephone No. | IRS Employer Ident ...