Financial Performance - Net Sales for Q3 2025 were $588 million, a 13% decline from $675 million in Q3 2024, with a 7% decline when excluding the 6% impact from the divestiture of European operations[5]. - Net Earnings improved to $10 million or $0.21 Diluted Earnings Per Share in Q3 2025, compared to a Net Loss of $25 million or $0.52 Diluted Loss Per Share in Q3 2024[5]. - Adjusted EBITDA for Q3 2025 was $53 million, down from $59 million in Q3 2024, primarily due to lower Net Sales and increased investments in innovative offerings[10]. - Year-to-date, Net Sales reached $1.8 billion, a 9% decrease compared to the same period in 2024, with a 4% decline when excluding the impact of the divestiture[10]. - Adjusted Diluted Earnings Per Share for Q3 2025 increased by 19% to $0.31 from $0.26 in Q3 2024[10]. - Operating income for Q3 2025 was $26.4 million, compared to an operating loss of $4.9 million in Q3 2024[29]. - Net earnings for Q3 2025 were $10.2 million, a significant improvement from a net loss of $24.7 million in Q3 2024[29]. - For the nine months ended September 30, 2025, net sales were $1,789.3 million, down 8.8% from $1,963.8 million in the same period of 2024[31]. - Net earnings for the nine months ended September 30, 2025, were $15.9 million, a significant improvement from a loss of $55.6 million in the same period of 2024[35]. - EBITDA for the nine months ended September 30, 2025, was $118.3 million, compared to $79.5 million in 2024, reflecting an increase of 48.8%[43]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $141.4 million, down from $161.4 million in 2024, indicating a decrease of 12.8%[43]. - The EBITDA margin for the nine months ended September 30, 2025, improved to 6.6%, up from 4.0% in 2024[43]. - The company reported a basic earnings per share of $0.21 for Q3 2025, compared to a loss per share of $0.52 in Q3 2024[29]. - Earnings (loss) before income taxes for the nine months ended September 30, 2025, was $20.2 million, a significant recovery from $(49.3) million in 2024[53]. Cash Flow and Shareholder Returns - The company returned $19 million to shareholders year-to-date, consisting of $11 million in cash dividends and $8 million in share repurchases[5]. - The quarterly dividend of $0.075 per share is payable on December 5, 2025, to shareholders of record as of November 17, 2025[12]. - The company expects fourth quarter 2025 Free Cash Flow to be between $137 million and $147 million, following a negative Free Cash Flow of $87 million year-to-date[16]. - Total net cash used in operating activities for the nine months ended September 30, 2025, was $(50.0) million, compared to $(45.9) million in 2024[35]. - The company reported a net cash decrease in cash and cash equivalents of $(23.0) million for the nine months ended September 30, 2025, compared to $(40.4) million in 2024[35]. - Free Cash Flow (non-GAAP) for the nine months ended September 30, 2025, was $(86.5) million, an improvement from $(91.6) million in 2024[46]. Debt and Financial Position - Net Debt was $465 million as of September 30, 2025, an increase from $350 million at the end of 2024[16]. - As of September 30, 2025, total debt and finance lease obligations were $471.4 million, up from $379.2 million as of December 31, 2024[48]. - Net Debt (non-GAAP) increased to $465.2 million as of September 30, 2025, compared to $350.0 million at the end of 2024[48]. - The Net Debt Leverage Ratio (non-GAAP) rose to 2.28x as of September 30, 2025, from 1.56x at the end of 2024[48]. - Cash and cash equivalents at the end of the period were $6.2 million as of September 30, 2025, down from $12.5 million in 2024[35]. Operational Challenges and Strategic Initiatives - The company faced significant challenges including increased operating costs and decreased demand for printing services, impacting overall performance[22]. - The company is undergoing a transformation to adapt to new markets and technologies, including artificial intelligence, which may affect future performance[22]. - The company incurred restructuring, impairment, and transaction-related charges of $23.1 million for the nine months ended September 30, 2025, compared to $81.9 million in 2024[43]. Segment Performance - The United States Print and Related Services segment generated net sales of $1,623.1 million for the nine months ended September 30, 2025, compared to $1,702.3 million in 2024, a decrease of 4.7%[37]. - The International segment reported net sales of $166.2 million for the nine months ended September 30, 2025, down from $261.5 million in 2024, a decline of 36.5%[37].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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 ☐ 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: 001-41938 BrightSpring Health Services, Inc. (Exact Name of Registrant as Specified in its Charter) | Delaware | 82-2956404 | | - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q For the quarterly period ended September 30, 2025 For the transition period from to (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41938 BrightSpring Health Services, Inc. (Exact Name of Registrant as Specified in its Charter) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | Delaware | 82-2956404 | | - ...

Financial Performance - Net income for Q3 2025 was $12.27 million, a decrease of $768 thousand, or 5.89%, compared to Q3 2024[3] - Net income for Q3 2025 was $12,266,000, slightly higher than $12,246,000 in Q2 2025[9] - Adjusted net income for diluted earnings per share for Q3 2025 was $12,901,000, compared to $12,246,000 in Q3 2024, reflecting an increase of 5.4%[12] - The adjusted diluted earnings per share for the nine months ended September 30, 2025, was $2.01, down from $2.13 in the same period of 2024, a decrease of 5.6%[12] - Earnings per share (EPS) for Q3 2025 remained stable at $0.67, consistent with Q2 2025[9] Interest Income and Margin - Total interest income for Q3 2025 was $35,699,000, a slight increase from $35,388,000 in Q2 2025[9] - Net interest income after provision for credit losses was $31,297,000 for Q3 2025, compared to $30,942,000 in Q2 2025[9] - The net interest margin for Q3 2025 was 4.43%, an increase of 2 basis points from Q3 2024[3] - The average yield on loans for Q3 2025 was 5.24%, slightly up from 5.22% in Q3 2024[14] - The total interest-bearing liabilities for Q3 2025 were $1,779,829,000, with a net interest rate spread of 3.99%[17] Asset and Liability Management - Total consolidated assets were $3.19 billion as of September 30, 2025[4] - Total assets as of September 30, 2025, were $3,190,603,000, compared to $3,231,259,000 as of September 30, 2024[14] - Total assets as of September 30, 2025, increased to $3,189,613, up from $3,181,014 as of June 30, 2025, representing a growth of 0.5%[20] - Loans held for investment, net, decreased to $2,299,708 as of September 30, 2025, from $2,320,257 as of June 30, 2025, a decline of 0.9%[20] - Total deposits as of September 30, 2025, were $2,630,593, slightly down from $2,635,364 as of June 30, 2025, a decrease of 0.2%[20] Noninterest Income and Expenses - Noninterest income increased by approximately $437 thousand, or 4.18%, driven by a 23.46% increase in service charges on deposits[3] - Noninterest income reached $10,889,000 in Q3 2025, up from $10,340,000 in Q2 2025[10] - Total noninterest expense increased to $26,279,000 in Q3 2025 from $25,455,000 in Q2 2025[11] Credit Quality - Non-performing loans to total loans decreased to 0.71%, a reduction of 0.11% compared to Q3 2024[4] - The allowance for credit losses to total loans was 1.36% on September 30, 2025, down from 1.44% at year-end 2024[8] - The annualized net charge-offs to average loans ratio was 0.24% for the quarter ending September 30, 2025, consistent with the previous quarter[23] - The total allowance for credit losses to total loans ratio was 1.36% as of September 30, 2025, slightly down from 1.40% as of June 30, 2025[23] - The company experienced net charge-offs of $1.42 million, or 0.24% of annualized average loans, in Q3 2025[4] Shareholder Returns - The company declared a quarterly cash dividend of $0.31 per common share, marking the 40th consecutive year of regular dividends[2] - The company declared regular cash dividends of $0.31 per share for Q3 2025, consistent with previous quarters[9] - Book value per share on September 30, 2025, was $27.89, a decrease of $0.84 from year-end 2024[8] - The book value per common share increased to $27.89 as of September 30, 2025, from $27.46 as of June 30, 2025, an increase of 1.6%[20] - Total stockholders' equity rose to $510,725 as of September 30, 2025, compared to $502,829 as of June 30, 2025, reflecting a growth of 2.4%[20]

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 ☐ 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 001-10716 TRIMAS CORPORATION (Exact name of registrant as specified in its charter) Delaware 38-2687639 (IRS ...

Financial Performance - Net income for Q3 2025 was $59.8 million, a decrease of 17.4% compared to $72.5 million in Q3 2024[3] - Diluted EPS for Q3 2025 was $0.63, down from $1.18 in Q3 2024, while adjusted diluted EPS (non-GAAP) increased to $0.77 from $0.70[4] - The Company’s return on average assets was 0.90% for Q3 2025, compared to 1.63% in Q3 2024[10] - Net income (GAAP) for Q3 2025 was $59,788 thousand, a significant increase from $1,018 thousand in Q2 2025[31] - Adjusted net income (non-GAAP) for Q3 2025 was $72,917 thousand, compared to $65,877 thousand in Q2 2025[31] - Tangible net income (non-GAAP) for Q3 2025 was $66,298 thousand, a rise from $7,690 thousand in Q2 2025[31] - Diluted earnings per share (GAAP) improved to $0.63 from $0.01, showcasing a significant increase[32] - Adjusted diluted earnings per share (non-GAAP) reached $0.77, up from $0.69, representing an increase of 11.6%[32] Loan and Asset Growth - Loans increased by $462.1 million linked quarter, representing an annualized net loan growth of 9.9%[8] - Loans held for investment increased to $19,025,521,000 as of September 30, 2025, up from $18,563,447,000 in the previous quarter[14] - The loan portfolio totaled $19,025,521 thousand as of September 30, 2025, reflecting an increase from $18,563,447 thousand as of June 30, 2025[17] - Commercial, financial, and agricultural loans increased to $2,760,490 thousand as of September 30, 2025, from $2,666,923 thousand as of June 30, 2025[17] - Total assets of the company reached $26,726,165,000, an increase from $26,624,975,000 in the previous quarter[14] - Renasant Corporation has total assets of approximately $26.7 billion as of the latest reporting date[22] Income and Expense Analysis - Net interest income for Q3 2025 was $228.1 million, up $5.4 million from the previous quarter, with a net interest margin of 3.85%[8] - Noninterest income decreased by $0.8 million linked quarter, excluding a $1.5 million gain on sale of mortgage servicing rights[8] - Total noninterest expense for the nine months ended September 30, 2025, was $480,910,000, compared to $346,871,000 for the same period in 2024, indicating an increase of approximately 38.5%[12] - Total noninterest income (GAAP) for the period was $46,026 million, a decrease from $48,334 million in the previous period[33] - Total adjusted noninterest income (non-GAAP) of $46,026 million, compared to $46,867 million in the prior period[33] Credit Quality and Losses - The Company recorded a provision for credit losses of $10.5 million for Q3 2025, a decrease of $4.3 million linked quarter[8] - As of September 30, 2025, total nonperforming assets increased to $182,126 thousand, up from $153,609 thousand as of June 30, 2025, representing a 18.5% increase[18] - Nonperforming loans as a percentage of total loans rose to 0.90% as of September 30, 2025, compared to 0.76% as of June 30, 2025[18] - The allowance for credit losses on loans was $297,591 thousand as of September 30, 2025, compared to $290,770 thousand as of June 30, 2025, reflecting a 0.3% increase[18] - The annualized net loan charge-offs as a percentage of average loans decreased to 0.09% for the quarter ending September 30, 2025, down from 0.26% for the quarter ending June 30, 2025[18] Shareholder Metrics - Book value per share increased by 1.2% linked quarter, while tangible book value per share (non-GAAP) increased by 2.9%[8] - The company's shareholders' equity to assets ratio improved to 14.31% as of September 30, 2025, compared to 14.19% in the previous quarter[11] - Average shareholders' equity (GAAP) increased to $3,794,996 thousand in Q3 2025 from $3,745,051 thousand in Q2 2025[31] - Shareholders' equity (GAAP) increased to $3,825,778 from $3,778,854, reflecting a growth of 1.4% year-over-year[32] Operational Efficiency - The efficiency ratio (GAAP) improved to 67.05%, down from 67.59% in the previous period, indicating better cost management[33] - The adjusted efficiency ratio (non-GAAP) improved to 57.51%, compared to 57.07% in the previous period, indicating enhanced operational efficiency[33] Stock and Market Activity - Effective October 28, 2025, the Company approved a $150.0 million stock repurchase program, replacing the previous $100.0 million program[8] - The market value per share increased to $36.89 from $35.93 in the previous quarter, reflecting a growth of approximately 2.67%[11]

Financial Performance - Homes closed in Q3 2025 totaled 3,685 units, a 7% decrease from 3,942 units in Q3 2024[4] - Home closing revenue for Q3 2025 was $1.4 billion, down 12% from $1.6 billion in Q3 2024[4] - Average sales price for closings in Q3 2025 was $380,000, a 5% decrease from $402,000 in Q3 2024[4] - Net earnings for Q3 2025 were $99 million ($1.39 per diluted share), a 49% decrease from $196 million ($2.67 per diluted share) in Q3 2024[4] - Home closing gross margin for Q3 2025 was 19.1%, a decrease of 570 basis points from 24.8% in Q3 2024[4] - Total closing revenue for the nine months ended September 30, 2025, was $4,396,914, down 7% from $4,750,588 in 2024[19] - Net earnings for the three months ended September 30, 2025, were $99,297, a decline of 49% compared to $195,966 in 2024[17] - Earnings per common share for the three months ended September 30, 2025, were $1.40, down 48% from $2.70 in 2024[18] - Adjusted net earnings for the nine months ended September 30, 2025, were $384,223, a decrease from $616,413 in the same period of 2024, with diluted earnings per share dropping to $5.13 from $8.36[37] Orders and Backlog - Home orders increased by 4% year-over-year to 3,636 units in Q3 2025, with a home order value of $1.4 billion[4] - Ending backlog units decreased by 26% year-over-year to 1,699 units, with a backlog value of $670 million, down 28%[4] - Homes ordered in Q3 2025 totaled 3,636 with a value of $1,415,089, compared to 3,512 homes ordered valued at $1,425,610 in Q3 2024, indicating a slight increase of 3.5% in homes ordered but a decrease of 0.7% in total value[28] - The order backlog as of September 30, 2025, was 1,699 homes valued at $670,007, down from 2,284 homes valued at $931,656 as of September 30, 2024, reflecting a decrease of 25.6% in homes and 28.1% in value[30] Shareholder Returns - The company returned $85 million to shareholders through dividends and share repurchases in Q3 2025, totaling nearly $237 million year-to-date[7] Cash and Assets - Cash and cash equivalents at September 30, 2025, totaled $729 million, reflecting an increase from $652 million at December 31, 2024[12] - Total assets as of September 30, 2025, were $7,758,510, an increase from $7,162,654 as of December 31, 2024[23] - Cash and cash equivalents rose to $728,937 as of September 30, 2025, compared to $651,555 at the end of 2024[23] Operational Metrics - The company reported a total cost of closings of $1,148,254 for the three months ended September 30, 2025, a decrease of 4% from $1,195,204 in 2024[17] - The company experienced a significant increase in land closing revenue, which rose by 503% to $16,068 for the three months ended September 30, 2025, from $2,665 in 2024[17] - The total number of active communities as of September 30, 2025, was 334, an increase from 278 in the same period of 2024, showing a growth in operational capacity[30] Debt and Financing - The debt-to-capital ratio increased to 25.7% as of September 30, 2025, compared to 20.6% at the end of 2024, indicating a rise in leverage[37] - Capitalized interest at the end of Q3 2025 was $71,201, up from $53,731 at the end of Q3 2024, indicating increased financing costs associated with homebuilding[32] Tax and Effective Rate - The company reported an effective income tax rate of 22.6% for Q3 2025, slightly higher than the 21.6% reported in Q3 2024[37] Company Overview - Meritage Homes Corporation is the fifth-largest public homebuilder in the U.S., focusing on energy-efficient and affordable homes across multiple states[39]

Financial Performance - For the three months ended September 30, 2025, net income was $3.2 million, or $0.16 per diluted share, compared to $1.9 million, or $0.09 per diluted share for the same period in 2024, representing a 68.4% year-over-year increase[1]. - Net income increased by $1.3 million, or 66.3%, from $1.9 million for the three months ended September 30, 2024, to $3.2 million for the same period in 2025[23]. - Net income for the three months ended September 30, 2025, was $3,167,000, compared to $2,303,000 in the previous quarter, representing a significant increase of 37.5%[70]. - Basic earnings per share for the three months ended September 30, 2025, was $0.16, consistent with the previous quarter, while diluted earnings per share also remained at $0.16[70]. - For the nine months ended September 30, 2025, net interest income increased by $6.7 million, or 15.1%, to $51.3 million compared to $44.5 million for the same period in 2024[36]. Loan and Deposit Growth - Total loans increased by $60.8 million, or 2.9%, to $2.1 billion as of September 30, 2025, driven primarily by a $52.3 million, or 6.7%, increase in residential real estate loans[4]. - Total deposits increased by $87.2 million, or 3.9%, to $2.3 billion as of September 30, 2025[5]. - Core deposits rose by $97.4 million, or 6.3%, from year-end 2024, totaling $1.7 billion, which is 70.5% of total deposits[5]. - Total core deposits increased to $1,656.5 million at September 30, 2025, up from $1,559.1 million at December 31, 2024, representing a growth of 6.3%[59]. - Average loans for the quarter ended September 30, 2025, were $2,112,394 thousand, up from $2,038,593 thousand in the same quarter of 2024, marking a year-over-year increase of 3.6%[85]. Interest Income and Margin - Net interest income increased by $3.4 million, or 22.8%, to $18.1 million for the three months ended September 30, 2025, compared to $14.7 million for the same period in 2024[24]. - The net interest margin improved to 2.81% for the three months ended September 30, 2025, up from 2.80% in the previous quarter[7]. - Total interest and dividend income for the three months ended September 30, 2025, was $30,033,000, an increase from $28,437,000 in the previous quarter, representing a growth of 5.6%[70]. - Net interest and dividend income after provision for credit losses was $16,799,000 for the three months ended September 30, 2025, compared to $15,392,000 in the previous quarter, reflecting an increase of 9.2%[70]. - The average loan yield (tax-equivalent basis) for Q3 2025 was 5.04%, up from 4.93% in Q3 2024, indicating improved asset yield[85]. Credit Losses and Allowance - The allowance for credit losses was $20.5 million, or 0.96% of total loans, as of September 30, 2025, compared to $19.5 million, or 0.94% at December 31, 2024[6]. - Provision for credit losses increased by $1.9 million to $1.3 million for the three months ended September 30, 2025, primarily due to higher balances in commercial real estate loans[17]. - Provision for credit losses increased to $820,000 for the nine months ended September 30, 2025, compared to $97,000 for the same period in 2024, primarily due to a 21.4% increase in unfunded commitments[40]. - Total delinquency decreased to $4.5 million, or 0.21% of total loans, at September 30, 2025, down from $5.0 million, or 0.24% of total loans, at December 31, 2024[54]. Non-Interest Income and Expenses - Non-interest income decreased by $238,000, or 7.0%, to $3.2 million for the three months ended September 30, 2025, compared to $3.4 million for the previous quarter[19]. - Non-interest income decreased to $3,173 million from $3,411 million in the previous quarter[75]. - Non-interest expense increased by $1.4 million, or 9.5%, to $15.8 million for the three months ended September 30, 2025, compared to $14.4 million for the same period in 2024[32]. - Non-interest expense rose by $3.1 million, or 7.2%, to $46.6 million for the nine months ended September 30, 2025, driven by a 9.1% increase in salaries and employee benefits[43]. Efficiency and Ratios - The efficiency ratio improved to 74.2% for the three months ended September 30, 2025, compared to 80.6% for the same period in 2024[33]. - The efficiency ratio improved to 76.9% for the nine months ended September 30, 2025, down from 80.3% for the same period in 2024, reflecting higher revenues[44]. - The efficiency ratio (GAAP) was reported at 74.20% for the quarter ended September 30, 2025, slightly improved from 80.62% in the same quarter of 2024[86]. - The Company's total capital to risk-weighted assets ratio was 14.30% at September 30, 2025, slightly down from 14.38% at December 31, 2024[63]. - The Tier 1 capital to risk-weighted assets ratio was 12.26% at September 30, 2025, compared to 12.37% at December 31, 2024[63].

Financial Performance - Nabors reported third quarter 2025 operating revenues of $818 million, a decrease from $833 million in the second quarter[2] - Net income attributable to shareholders was $274 million, compared to a net loss of $31 million in the previous quarter, resulting in earnings per diluted share of $16.85[2] - Adjusted EBITDA for the third quarter was $236 million, down from $248 million in the previous quarter[2] - Operating revenues for Q3 2025 reached $818,190, an increase of 11.8% compared to $731,805 in Q3 2024[30] - Net income attributable to Nabors for Q3 2025 was $274,198, a significant recovery from a net loss of $55,825 in Q3 2024[30] - Adjusted EBITDA for the nine months ended September 30, 2025, was $691,112, up from $660,790 for the same period in 2024, reflecting a growth of 4.5%[30] - For the three months ended September 30, 2025, the net income was $302,466, compared to a net loss of $33,087 for the same period in 2024[44] - The total adjusted EBITDA for the three months ended September 30, 2025, was $236,308, compared to $221,720 for the same period in 2024, reflecting an increase of approximately 6.5%[45] - The total adjusted operating income (loss) for the nine months ended September 30, 2025, was $201,066, compared to $183,730 for the same period in 2024, indicating a year-over-year improvement[45] Debt and Cash Flow - The sale of Quail Tools generated $625 million, with $375 million received in cash at closing, significantly reducing gross debt by approximately $330 million[4] - Adjusted free cash flow for the third quarter was $6 million, down from $41 million in the prior quarter, impacted by lower collections in Mexico[13] - Nabors expects fourth quarter 2025 adjusted free cash flow to be approximately $10 million[21] - The company reported a net debt of $1,919,905 as of September 30, 2025, down from $2,285,465 as of June 30, 2025[52] - Free cash flow for the three months ended September 30, 2025, was $5,613, compared to $9,961 in the previous quarter[54] - Adjusted free cash flow for the three months ended September 30, 2025, was $5,613, significantly lower than $40,596 in the previous quarter[54] Segment Performance - International Drilling adjusted EBITDA increased to $127.6 million, up from $117.7 million in the second quarter, driven by a higher average rig count[9] - U.S. Drilling segment adjusted EBITDA decreased to $94.2 million from $101.8 million, attributed to lower rig count and daily margin in the Lower 48[10] - U.S. Drilling segment revenues for Q3 2025 were $249,836, a slight decrease from $254,773 in Q3 2024[34] - International Drilling segment revenues increased to $407,235 in Q3 2025, up from $368,594 in Q3 2024, representing a growth of 10.4%[34] - Adjusted operating income for the U.S. Drilling segment was $31,429, while the International Drilling segment reported $45,476 for the same period[45] - The adjusted operating income (loss) for the Rig Technologies segment was $49,982 for the three months ended September 30, 2025, highlighting its contribution to overall performance[45] Operational Metrics - The company anticipates a Lower 48 average rig count of 57-59 rigs and a daily adjusted gross margin of approximately $13,000 for the fourth quarter[17] - Average rigs working in U.S. Drilling decreased to 69.2 in Q3 2025 from 74.0 in Q3 2024[34] - Daily Rig Revenue for U.S. Drilling was $39,219 in Q3 2025, compared to $37,441 in Q3 2024, indicating a growth of 4.7%[34] - The adjusted gross margin for U.S. Drilling for the three months ended September 30, 2025, was $100,680, a decrease from $115,071 in the previous quarter[46] - The adjusted gross margin for International Drilling for the three months ended September 30, 2025, was $147,231, an increase from $133,192 in the previous quarter[46] Integration and Synergies - The integration of Parker Wellbore businesses is progressing, with adjusted EBITDA contribution increasing by over 70% sequentially, aiming for $40 million in synergies by 2025[4]

RenaissanceRe Holdings Ltd. Contents | | Page | | --- | --- | | Basis of Presentation | i | | Financial Highlights | 1 | | Summary Consolidated Financial Statements | | | a. Consolidated Statements of Operations | 3 | | b. Consolidated Balance Sheets | 4 | | Underwriting and Reserves | | | a. Segment Underwriting Results | 5 | | b. Segment Underwriting Results - Five Quarter Trend | 7 | | c. Property Segment - Catastrophe and Other Property Underwriting Results | 10 | | d. Gross Premiums Written | 12 | | e. ...