Financial Performance - Net sales for the thirteen weeks ended November 23, 2025, were $2,979.1 million, a decrease of 6.8% compared to $3,195.1 million for the same period in 2024[8] - Gross profit for the twenty-six weeks ended November 23, 2025, was $1,336.6 million, down 15.7% from $1,586.0 million in 2024[8] - The company reported a net loss of $663.6 million for the thirteen weeks ended November 23, 2025, compared to a net income of $284.5 million in the same period last year[8] - Net income for the twenty-six weeks ended November 23, 2025, was a loss of $499.1 million, compared to a net income of $751.4 million for the same period in 2024[16] - The company reported a comprehensive loss of $670.8 million for the thirteen weeks ended November 23, 2025, compared to a comprehensive income of $263.3 million in the same period last year[11] - Operating profit for the first half of fiscal 2026 was a loss of $250.2 million, down from a profit of $804.2 million in the same period of fiscal 2025[8] Asset and Liability Management - Total current assets increased to $3,226.3 million as of November 23, 2025, compared to $3,071.0 million as of May 25, 2025[13] - Total liabilities decreased to $11,449.5 million as of November 23, 2025, from $12,001.2 million as of May 25, 2025[13] - Current liabilities decreased to $3,619.7 million from $4,317.0 million, indicating improved liquidity[13] - Cash and cash equivalents decreased to $46.6 million as of November 23, 2025, from $68.0 million as of May 25, 2025[13] - The company’s retained earnings decreased to $5,924.3 million as of November 23, 2025, from $6,759.1 million as of May 25, 2025[13] Impairment Charges - Goodwill impairment charges amounted to $771.3 million for the thirteen weeks ended November 23, 2025, with no charges reported in the same period of 2024[8] - The company recognized asset impairment charges of $975.0 million, significantly higher than $87.6 million in the previous year[16] - The carrying amount of goodwill decreased to $9.73 billion as of November 23, 2025, primarily due to a $771.3 million impairment in the Refrigerated & Frozen reporting unit[54][58] - The company recognized additional impairment charges of $180.0 million related to the Birds Eye® brand name and $17.0 million for the Earth Balance® and Smart Balance® brands[60] Cash Flow and Financing Activities - Cash flows from operating activities decreased to $331.2 million from $754.2 million year-over-year[16] - Cash flows from investing activities improved to $467.2 million, compared to a net outflow of $366.0 million in the prior year[16] - The company repaid $1.00 billion of 4.60% senior unsecured notes on November 1, 2025, funded by $500.0 million of new 5.00% senior unsecured notes due August 1, 2030, and $500.0 million of 5.75% senior unsecured notes due August 1, 2035[41] - The company prepaid $200.0 million and $300.0 million of unsecured term loans in fiscal 2026, utilizing proceeds from the sale of the Chef Boyardee® business[43][44] Segment Performance - The Grocery & Snacks segment reported net sales of $1,209.1 million, down from $1,321.0 million in the prior year, a decrease of about 8.5%[112][113] - The Refrigerated & Frozen segment's net sales were $1,251.2 million, compared to $1,338.5 million in the previous year, reflecting a decline of approximately 6.5%[112][113] - The Foodservice segment generated net sales of $288.4 million, slightly down from $292.2 million in the prior year, a decrease of approximately 1.3%[112][113] Shareholder Returns and Equity - The balance of stockholders' equity as of November 23, 2025, was $8,090.8 million, down from $8,932.7 million as of May 25, 2025[95] - The company declared dividends of $0.35 per share, totaling $167.8 million for the period ending August 25, 2024, and $167.0 million for the period ending November 24, 2024[96] - The company repurchased 0.8 million shares of common stock for $15.0 million during the first quarter of fiscal 2026, with a remaining share repurchase authorization of $837.6 million as of November 23, 2025[169] Restructuring and Strategic Initiatives - The company incurred cumulative charges of $324.1 million related to the Conagra Restructuring Plan, with ongoing costs expected through the end of fiscal 2026[38] - In the first half of fiscal 2026, total pre-tax expenses for the Conagra Restructuring Plan amounted to $2.9 million, with $10.8 million resulting in cash outflows and a $7.9 million non-cash net benefit[39] - The company is analyzing the impact of recently issued accounting standards on its financial disclosures, with early adoption options available for some[18][19][20][21][22] Tax and Legal Matters - The effective tax rate for Q2 fiscal 2026 was (1.3)%, significantly lower than 17.8% in Q2 fiscal 2025, impacted by a goodwill impairment charge[76] - The company recognized an income tax expense of $132.9 million in the first half of fiscal 2026, compared to an income tax benefit of $77.4 million in the first half of fiscal 2025[76] - The total accrual for all litigation matters was $92.3 million as of November 23, 2025, and $204.5 million as of May 25, 2025[85] Acquisitions and Divestitures - The company completed the sale of its Chef Boyardee business for net proceeds of $607.0 million, recognizing a gain of $42.7 million on the sale[29] - Conagra Brands acquired the manufacturing operations of a contract manufacturer for cooking spray products for a cash purchase price of $51.2 million, with approximately $46.3 million classified as goodwill[23] - The divestiture of a 51.8% stake in Agro Tech Foods Limited generated net proceeds of $76.8 million, with a recognized loss of $2.3 million[33]

Financial Performance - Revenue from continuing operations for Q4 2025 was $3,022,000, with a net loss of $2,429,000 or $0.24 per share[3] - For the fiscal year ended September 30, 2025, revenue from continuing operations was $13,697,000, resulting in a net loss of $7,103,000 or $0.71 per share[3] - The increase in net loss for the year was primarily due to higher general and administrative expenses, lower commodity prices, and reduced production[4] - The weighted-average shares outstanding for the year were 10,056,479, with a basic and diluted net loss per share of $0.71 for the fiscal year[17] Asset Management - The company sold its U.S. oil and natural gas assets, resulting in no longer owning any such assets in the U.S.[5] - The sale of U.S. oil and natural gas properties allows the company to concentrate resources on workover and optimization initiatives at the Twining field[10] Capital Raising - A private placement offering in November 2025 raised approximately $2,443,000 through the issuance of 2,221,141 shares of common stock and warrants[6][7] - The company plans to use the proceeds from the private placement for general corporate purposes and to focus on high-return-on-invested-capital opportunities[7] Operational Strategy - Barnwell is relocating its corporate headquarters to Houston, Texas, and Calgary, Alberta, to streamline operations and reduce expenses[9] - The company anticipates maintaining flexibility to consider opportunities that may strengthen the value of the Twining asset and overall company potential[10]

Financial Performance - Net sales for Q2 2026 were $871.9 million, an increase of 18% compared to $739.0 million in Q2 2025[4] - Operating income rose to $21.7 million, up from $18.9 million in the prior year quarter[4] - Net earnings attributable to controlling interest increased to $18.8 million, compared to $12.8 million in Q2 2025[8] - Adjusted EBIT for Q2 2026 was $26.6 million, significantly higher than $14.3 million in Q2 2025[4] - Gross margin improved by $13.2 million to $93.2 million, driven by higher direct volumes and spreads[6] - Free cash flow for Q2 2026 was $74.6 million, compared to $33.2 million in the prior year quarter[11] - Net sales for the three months ended November 30, 2025, were $871.9 million, an increase of 17.9% compared to $739.0 million for the same period in 2024[21] - Gross margin for the six months ended November 30, 2025, was $208.4 million, up from $180.4 million in 2024, reflecting a 15.5% increase[21] - Operating income for the three months ended November 30, 2025, was $21.7 million, compared to $18.9 million in 2024, representing a 14.8% increase[21] - Net earnings attributable to controlling interest for the six months ended November 30, 2025, were $55.6 million, up from $41.2 million in 2024, a growth of 34.9%[21] - Net earnings for the six months ended November 30, 2025, increased to $60.1 million, up from $48.3 million in the same period of 2024, representing a growth of 24%[27] - Adjusted net earnings per diluted share attributable to controlling interest for the six months ended November 30, 2025, was $1.15, up from $0.76 in the same period of 2024, a growth of 51%[33] - The company’s adjusted EBITDA for the six months ended November 30, 2025, was $82.2 million, compared to $56.1 million in the prior year, representing a 46% increase[33] - Adjusted EBITDA for the three months ended November 30, 2025, was $48.3 million, compared to $30.6 million in the same period of 2024, marking a significant increase of 57.0%[35] - The net earnings margin improved to 3.2% for the six months ended November 30, 2025, up from 2.6% in 2024[35] - Adjusted EBIT margin for the three months ended November 30, 2025, improved to 3.1%, compared to 1.9% in the same period of 2024[35] - Adjusted EBITDA margin for the six months ended November 30, 2025, was 7.1%, up from 5.5% in 2024[35] Cash and Debt Management - As of November 30, 2025, the company had cash and cash equivalents of $89.8 million and net debt of $92.3 million[12] - Cash and cash equivalents increased to $89.8 million as of November 30, 2025, compared to $38.0 million as of May 31, 2025[23] - Total cash, cash equivalents, and restricted cash at the end of the period was $89.8 million, compared to $52.0 million at the end of the previous year, indicating a 73% increase[27] - Total debt as of November 30, 2025, was $182.1 million, with net debt calculated at $92.3 million after accounting for cash and cash equivalents of $89.8 million[43] - The company reported a net cash used in financing activities of $41.9 million, compared to $55.6 million in the same period last year, showing a 25% improvement[27] Shareholder Returns - The company declared a quarterly dividend of $0.16 per share, payable on March 27, 2026[12] - The company declared cash dividends of $0.16 per share for both the three and six months ended November 30, 2025[21] Asset Management - Total assets as of November 30, 2025, were $2,150.0 million, an increase from $1,961.8 million as of May 31, 2025[23] - Current liabilities decreased to $584.9 million as of November 30, 2025, from $631.5 million as of May 31, 2025[25] - The company’s total shareholders' equity attributable to controlling interest increased to $1,117.1 million as of November 30, 2025, from $1,074.1 million as of May 31, 2025[25] Operational Efficiency - Direct tons sold increased by 13%, while toll volumes decreased by 24% compared to the prior year quarter[5] - The company reported a volume of 901,838 tons for the three months ended November 30, 2025, down from 936,069 tons in the same period of 2024, indicating a decrease of 3.6%[35] - The company reported an impairment of assets of $0.6 million for the three months ended November 30, 2025[21] - The company incurred a bad debt expense of $0.2 million in the current period, a significant decrease from $2.1 million in the prior year[27] - The company reported a depreciation and amortization expense of $42.0 million for the six months ended November 30, 2025, compared to $32.5 million in 2024, reflecting a 29% increase[27] Future Outlook - The company anticipates that its focus on higher-value solutions will continue to strengthen its earnings profile as market conditions evolve[2]

Financial Performance - For the three months ended November 30, 2025, BlackBerry reported revenue of $141.8 million, a slight decrease of 1.3% compared to $143.6 million for the same period in 2024[25]. - Operating income for the three months ended November 30, 2025, was $11.9 million, down from $19.5 million in the same period last year[25]. - Net income for the three months ended November 30, 2025, was $13.7 million, compared to a net loss of $10.5 million for the same period in 2024[25]. - For the nine months ended November 30, 2025, net income was $28.9 million, a substantial improvement from a net loss of $71.6 million in the prior year[30]. - Comprehensive income for the three months ended November 30, 2025, was $12.6 million, compared to a comprehensive loss of $15.0 million for the same period in 2024[28]. - The Company reported a net income of $13.7 million for the three months ended November 30, 2025, compared to a loss of $10.5 million in the same period of the previous year[103]. - For the three months ended November 30, 2025, total segment revenue was $141.8 million, a decrease of 1.3% compared to $143.6 million for the same period in 2024[125]. - For the nine months ended November 30, 2025, total segment revenue was $393.1 million, consistent with $393.2 million for the same period in 2024[131]. Cash and Liquidity - Cash and cash equivalents as of November 30, 2025, totaled $270.3 million, up from $266.7 million as of February 28, 2025[17]. - The company’s cash, cash equivalents, and restricted cash at the end of the period totaled $284.3 million, up from $200.2 million a year earlier[30]. - The company reported a net cash increase of $4.0 million in cash, cash equivalents, and restricted cash during the period, compared to a decrease of $0.3 million in the prior year[30]. - Cash, cash equivalents, and investments amounted to $377.5 million as of November 30, 2025, including common shares of Arctic Wolf valued at $24.6 million[148]. - As of November 30, 2025, the Company had $377.5 million in cash, cash equivalents, and investments, down from $410.3 million as of February 28, 2025[184]. Expenses and Costs - Research and development expenses for the three months ended November 30, 2025, were $29.6 million, an increase of 6.1% from $27.9 million in the prior year[25]. - Operating expenses increased to $98.0 million in the third quarter of fiscal 2026, up 5.3% from $92.7 million in the same quarter of fiscal 2025[178]. - The Company incurred restructuring charges of $6.1 million in Q3 fiscal 2026, compared to $6.5 million in Q3 fiscal 2025[191]. - The company's operating expenses decreased to $271.4 million for the nine months ended November 30, 2025, down from $282.0 million in the same period of 2024, indicating cost management efforts[196]. Shareholder Equity and Stock - The company’s total shareholders' equity increased to $741.1 million as of November 30, 2025, compared to $719.9 million as of February 28, 2025[17]. - Basic earnings per share from continuing operations for the three months ended November 30, 2025, was $0.02, consistent with the same period in 2024[25]. - BlackBerry's total basic earnings per share for the three months ended November 30, 2025, was $0.02, compared to a loss of $0.02 in the same period last year[25]. - The Company repurchased 8.6 million common shares at a cost of $34.0 million during the nine months ended November 30, 2025, reducing capital stock by $42.8 million[100]. - Common shares outstanding as of November 30, 2025, totaled 590.4 million, down from 596.2 million as of February 28, 2025[99]. Segment Performance - QNX segment revenue for the three months ended November 30, 2025, was $68.7 million, up 10.3% from $62.3 million in 2024[125]. - Secure Communications segment revenue for the three months ended November 30, 2025, was $67.0 million, down 10.1% from $74.6 million in 2024[125]. - Licensing segment revenue for the three months ended November 30, 2025, was $6.1 million, a decrease of 8.9% compared to $6.7 million in 2024[125]. - The total segment adjusted gross margin for the three months ended November 30, 2025, was $110.4 million, down from $112.9 million in 2024[130]. - The Secure Communications Annual Recurring Revenue (ARR) reached approximately $216 million as of November 30, 2025, showing a growth from $215 million in the same period last year[208]. Impairments and Adjustments - The company recorded a pre-tax impairment charge of $0.6 million and $1.2 million for the three and nine months ended November 30, 2025, respectively, related to operating lease right-of-use assets and property, plant, and equipment[59]. - The company recorded no realized gains or losses on available-for-sale debt securities for the three and nine months ended November 30, 2025[66]. - The company has restricted cash and cash equivalents pledged as collateral for letters of credit and a performance bond, which are legally restricted from access during the lease terms[67]. - The company recorded an accumulated other comprehensive loss of $13.1 million as of November 30, 2025[106]. Taxation - The net effective income tax expense rate for the nine months ended November 30, 2025, was approximately 13%, a decrease from 28% for the same period in 2024[91]. - The Company's total unrecognized income tax benefits as of November 30, 2025, were $19.7 million, slightly up from $19.5 million as of February 28, 2025[92]. Future Outlook and Strategy - The QNX division aims to increase adoption of its QNX SDP 8.0 and capture a larger share of the automotive software stack in fiscal 2026[164]. - BlackBerry Radar provides asset monitoring and telematics solutions for the transportation and logistics industry, enhancing fleet management analytics[166]. - The Secure Communications division focuses on government and regulated enterprise markets, providing highly secure communication solutions[160]. - The Company expects to meet its funding requirements for current financial commitments and future operating expenditures based on its financial projections[149].

Financial Performance - Consolidated net sales for fiscal year 2025 increased 9.5% to $73.0 million, compared to $66.7 million for fiscal year 2024[3] - Gross profit increased 24.1% to $22.6 million in fiscal year 2025, with a gross profit margin of 30.9%, up from 27.3% in fiscal year 2024[5] - Net sales to customers in the United States increased 10.4%, while net sales to customers outside the United States increased 6.5% in fiscal year 2025[3] - For the fourth quarter of fiscal year 2025, consolidated net sales increased 1.8% to $19.8 million compared to $19.5 million for the same period in the prior year[7] - Gross profit for the fourth quarter of fiscal year 2025 decreased slightly to $6.3 million, with a gross profit margin of 31.9%[8] Expenses - SG&A expenses totaled $23.0 million in fiscal year 2025, up from $21.5 million in fiscal year 2024[6] - SG&A expenses in the fourth quarter of fiscal year 2025 increased to $6.0 million, compared to $5.9 million for the same period in fiscal year 2024[10] Net Loss - The company recorded a net loss of $1.5 million, or $0.18 per share, for fiscal year 2025, an improvement from a net loss of $4.2 million, or $0.54 per share, in fiscal year 2024[6] Strategic Initiatives - The company entered into a strategic collaboration with Lightera, LLC in July 2025 to expand product solutions offerings and growth opportunities[11] Management Outlook - Management expressed optimism about continued growth in fiscal year 2026 and beyond, highlighting strong positioning in target markets[12]

Financial Performance - Net revenues for the three months ended November 29, 2025, increased to $702.7 million, a 12.3% increase from $625.6 million for the same period in 2024[84]. - Gross profit rose to $89.0 million, representing 12.7% of net revenues, compared to 12.3% in the prior year, driven by volume leverage[84][85]. - Operating income improved to $13.8 million, a significant increase from a loss of $0.9 million in the previous year[84]. - The Towable RV segment reported net revenues of $293.4 million, up 15.5% from $254.0 million, with unit deliveries increasing by 12.2%[88]. - The Motorhome RV segment saw net revenues rise to $308.5 million, a 13.5% increase, despite a decrease in unit deliveries by 8.3%[91]. - The Marine segment's net revenues increased to $92.5 million, a 2.2% rise from $90.5 million, with a slight decrease in unit deliveries by 3.1%[93]. Expenses and Cash Flow - Total operating expenses decreased to $75.2 million, down 3.2% from $77.7 million, primarily due to cost reduction initiatives[84]. - For the three months ended November 29, 2025, net cash provided by operating activities was $25.4 million, a significant improvement from a net cash used of $16.7 million in the same period last year, driven by favorable changes in net working capital and higher profitability[96]. - Cash used in investing activities decreased to $(5.5) million from $(8.0) million in the prior year, primarily due to lower capital expenditures[97]. - Cash used in financing activities decreased to $(12.2) million compared to $(43.7) million in the prior year, mainly due to higher share repurchases in the previous year[98]. Liquidity and Capital Structure - As of November 29, 2025, the company had $181.7 million in cash and cash equivalents and $350.0 million in unused ABL Credit Facility[100]. - Working capital increased to $488.1 million as of November 29, 2025, up from $465.1 million on August 30, 2025, indicating improved liquidity[104]. - The company has $180.0 million remaining on its Board-approved share repurchase authorization, with no shares repurchased under this authorization in the three months ended November 29, 2025[106]. - The company maintains a $350.0 million asset-based revolving credit facility with no borrowings against it as of November 29, 2025[99]. - There are no debt maturities classified as current on the Consolidated Balance Sheets as of November 29, 2025[102]. - The company believes that cash flow from operations and existing lines of credit will be sufficient to meet current liquidity needs[103]. Market Outlook - The company anticipates stabilization in consumer demand, which may lead to more stable ordering patterns from dealers[82]. Taxation - The effective tax rate change is attributed to an excess tax detriment from stock-based compensation and a shift from a pre-tax loss to pre-tax income[86]. Dividends - A quarterly cash dividend of $0.35 per share was approved, payable on January 28, 2026, to common stockholders of record as of January 14, 2026[107]. Pricing - The average selling price (ASP) for Towable RVs increased by 3.2% to $39,384, while the ASP for Motorhome RVs rose by 20.0% to $236,612[88][91].

Financial Performance - The company reported operational losses of $2.1 million in fiscal year 2025 and $3.3 million in fiscal year 2024, indicating a trend of negative growth [76]. - Net sales decreased to $19.5 million in fiscal 2024 and $19.2 million in fiscal 2025, primarily due to a decline in total orders across both direct-to-consumer and wholesale divisions [79]. - The company may need to write down the value of expired inventory, negatively impacting its financial position and operational outcomes [95]. - Future impairments of intangible or fixed assets could harm the Company's financial results if fair value falls below book value [102]. Operational Challenges - The company is facing significant inflationary pressures and competitive challenges, which have negatively impacted revenue growth and marketing effectiveness [79]. - The company is experiencing increased costs and availability issues for raw materials, labor, and transportation, which could harm gross margins and customer demand [89][90]. - The reliance on third-party manufacturers and suppliers poses risks, as disruptions could adversely impact production and sales [91]. - The company must comply with various hemp production laws, and any failures by suppliers could disrupt the supply chain and manufacturing processes [94]. - The company faces risks related to system interruptions and lack of redundancy, which could adversely affect net sales and operational efficiency [98]. Regulatory Environment - The regulatory environment for CBD products is uncertain, with potential changes in federal and state laws that could materially impact revenues [104]. - The FTC has increased scrutiny on advertising claims related to CBD products, with potential penalties for unsupported health claims [111]. - The Company must secure and maintain specific regulatory approvals, and failure to do so could delay operations and negatively impact financial condition [106]. - The evolving legal landscape for cannabinoids presents compliance risks that could disrupt operations and affect market introduction [112]. Strategic Initiatives - The company plans to invest in research and development, sales and marketing, and international expansion, but may face challenges if sales do not increase sufficiently to cover operating expenses [80]. - The company aims to expand its brand awareness and product innovation to capture a larger share of the CBD market [84]. - The company recognizes the need for cost-effective customer acquisition strategies, as increasing marketing costs may hinder growth if new customers are not attracted efficiently [85]. Brand and Reputation - The company is focused on maintaining its brand reputation, as negative publicity could significantly impact sales and operational results [81][82]. - The company has experienced past security incidents that compromised customer information, which could affect its reputation and operations [97]. Stockholder and Equity Issues - The company received notifications from NYSE American on June 5, 2024, and December 31, 2024, indicating non-compliance with continued listing standards, specifically regarding stockholders' equity requirements [115]. - Section 1003(a)(i) requires stockholders' equity of $2.0 million or more if the company has reported losses in two of the last three fiscal years, while Section 1003(a)(ii) requires $4.0 million for losses in three of the last four fiscal years [116]. - The conversion of Series A Preferred Stock on May 6, 2025, eliminated $6.7 million of accrued dividends and brought the company into compliance with NYSE American's continued listing standards [116]. - The company maintained compliance with increased stockholders' equity requirements of a minimum of $6.0 million for two fiscal quarters despite ongoing annual losses [116]. - The Series B Convertible Preferred Stock ranks senior to common stock and other liabilities, affecting asset distribution in bankruptcy or liquidation scenarios [118]. - Change of Control rights associated with Series B Convertible Preferred Stock may deter potential acquisition proposals, impacting shareholder value [119]. - Holders of Series B Convertible Preferred Stock have a liquidation preference of $1.00 per share, reducing the amount available to common shareholders in liquidation events [120].

Financial Performance - Net sales for the three months ended September 30, 2025, were $178.2 million, a decrease from $321.8 million in the same period of 2024, representing a decline of approximately 44.5%[10] - Gross profit for the three months ended September 30, 2025, was a loss of $29.2 million, compared to a profit of $28.6 million in the same period of 2024[10] - Net income for the nine months ended September 30, 2025, was a loss of $279.0 million, significantly higher than a loss of $68.6 million in the same period of 2024[14] - The company reported a basic and diluted earnings per share of $(3.03) for the three months ended September 30, 2025, compared to $(1.24) for the same period in 2024[10] - The company reported a comprehensive loss of $87.83 million for the three months ended September 30, 2025, compared to a loss of $46.33 million in the same period of 2024[11] - For the three months ended September 30, 2025, Superior Industries reported a net loss of $84.989 million, compared to a net loss of $24.753 million for the same period in 2024, indicating a significant decline in performance[15][16] - Net loss for the nine months ended September 30, 2025, was $279.0 million, compared to a net loss of $68.6 million in 2024, indicating a significant increase in losses[167] Assets and Liabilities - Total assets decreased to $591.97 million as of September 30, 2025, down from $740.13 million as of December 31, 2024[13] - Current liabilities increased significantly to $762.12 million as of September 30, 2025, compared to $195.93 million as of December 31, 2024[13] - The total shareholders' equity decreased to $(548.251) million as of September 30, 2025, from $(231.849) million a year earlier, reflecting a worsening financial position[15][16] - The company’s total liabilities and equity as of September 30, 2025, were reported at $1.1 billion, reflecting the impact of the merger and changes in equity structure[19] - The Company’s total debt liabilities due in the next five years amount to $662.2 million, with a weighted average interest rate of 12.3% as of September 30, 2025[59] Cash Flow and Liquidity - Cash and cash equivalents at the end of the period were $60.62 million, an increase from $40.11 million at the beginning of the period[14] - The company experienced a net cash used by operating activities of $72.07 million for the nine months ended September 30, 2025, compared to $7.86 million for the same period in 2024[14] - The company does not expect to have sufficient liquidity to meet financial obligations over the next twelve months, raising substantial doubt about its ability to continue as a going concern[28] - As of September 30, 2025, total available liquidity was $31.1 million, after accounting for various restrictions and obligations[179] Impairments and Charges - The company incurred impairment of long-lived assets amounting to $66.91 million for the nine months ended September 30, 2025[14] - The Company recognized a non-cash impairment charge of $66.9 million to property, plant, and equipment in Q2 2025 due to impairment triggers in the North America asset group[47] - The Company recognized a provision of $1.5 million related to a legal claim from its energy distributor's parent company, indicating a probable adverse judgment[110] Shareholder Actions and Stock - The company issued 7.6 million shares during the three months ended September 30, 2025, resulting in an increase in common stock amounting to $684 thousand[15] - Preferred stock dividends of $7.8 million were paid-in-kind during the nine months ended September 30, 2025, increasing the stated value of preferred stock to $167.9 million[79] - The redemption value of the redeemable preferred stock as of September 30, 2025, would be equivalent to $335.8 million[81] Mergers and Acquisitions - Superior Industries completed a merger on December 8, 2025, with SUP Parent Holdings, LLC, which involved the conversion of common shares into cash and limited liability company interests[19][20] - Following the merger completed on December 8, 2025, certain financial covenants were removed or waived until June 30, 2026, with a minimum liquidity threshold set at $10 million[27] - The Company entered into an Exchange Agreement on December 8, 2025, resulting in the exchange of rights under certain loan claims for a portion of Take Back Term Loans[60] Operational Performance - The North America segment reported a loss from operations of $49.0 million for the three months ended September 30, 2025, compared to a profit of $13.9 million in the same period of 2024[49] - The North American segment reported net sales of $371.1 million for the first nine months of 2025, a decrease of 38.5% compared to $602.9 million in 2024[169] - The European segment's net sales decreased by 4.9% to $336.6 million for the first nine months of 2025, primarily due to lower volumes and product mix[171] Customer and Market Dynamics - In Q2 2025, certain North American customers accounted for approximately 33% of projected consolidated net sales, down from 40% in 2024 and 36% in 2023, leading to a significant impact on cash generation[26] - For the three months ended September 30, 2025, GM accounted for 0% of total sales, while Toyota represented 27%, and VW Group accounted for 26%[119] - The Company’s aluminum wheels are primarily sold to OEMs for factory installation on new light vehicles, with demand driven by production levels in North America and Europe[117] Legal and Regulatory Matters - The company is currently cooperating with an investigation by the German Federal Cartel Office regarding competition restrictions, with potential fines or civil proceedings pending[107] Other Financial Metrics - The effective income tax rate for the three months ended September 30, 2025, was (6.1)%, compared to (3.7)% for the same period in 2024[92][93] - Total lease expense for the three months ended September 30, 2025, was $1.017 million, an increase from $958,000 in the same period in 2024[97] - The Company recorded a total stock-based compensation expense of $503,000 for the three months ended September 30, 2025[103]

Financial Performance - Net income for the quarter ended November 30, 2025 increased by $7.1 million to $55.9 million, compared to $48.8 million in the prior fiscal year quarter, with earnings per share of $2.21 and $2.17 for Class A and Common Stock respectively [128]. - Revenues for the quarter ended November 30, 2025 increased by $13.9 million to $380.9 million, driven by new releases and increased revenues from School Reading Events [131]. - Revenues for the six months ended November 30, 2025 decreased by $24.6 million to $102.3 million in the Education Solutions segment, primarily due to delayed school funding [137]. - Revenues for the quarter ended November 30, 2025 decreased by $1.7 million to $15.1 million, compared to $16.8 million in the prior fiscal year quarter, primarily due to lower production revenues [146]. - Revenues for the six months ended November 30, 2025 decreased by $4.7 million to $28.7 million, compared to $33.4 million in the prior fiscal year period [147]. Cost and Expenses - Cost of goods sold for the quarter ended November 30, 2025 was $146.5 million, or 38.5% of revenues, a decrease from 39.0% in the prior fiscal year quarter due to improved inventory utilization [131]. - Other operating expenses for the quarter ended November 30, 2025 increased by $4.0 million to $125.6 million, driven by inflationary pressures [133]. - Cost of goods sold for the quarter ended November 30, 2025 was $8.8 million, or 58.3% of revenues, down from $10.6 million, or 63.1% of revenues in the prior fiscal year quarter [148]. - Other operating expenses for the quarter ended November 30, 2025 were $29.2 million, a decrease of $2.9 million from $32.1 million in the prior fiscal year quarter, primarily due to lower employee-related costs [157]. Segment Performance - Segment operating income for the quarter ended November 30, 2025 increased by $6.7 million to $108.8 million, attributed to increased revenues from book fairs and trade channels [135]. - Segment operating loss for the quarter ended November 30, 2025 was $9.0 million, compared to $4.7 million in the prior fiscal year quarter, driven by asset impairments recognized during the quarter [152]. - Segment operating income for the quarter ended November 30, 2025 was $12.4 million, compared to $5.7 million in the prior fiscal year quarter, reflecting improved margins and increased revenues [159]. Cash Flow and Liquidity - Cash used in operating activities was $8.6 million for the six months ended November 30, 2025, compared to cash provided of $29.3 million in the prior fiscal year period, representing an increase in cash used of $37.9 million [164]. - Cash provided by financing activities was $13.9 million for the six months ended November 30, 2025, down from $214.5 million in the prior fiscal year period, a decrease of $200.6 million [166]. - The Company's cash and cash equivalents totaled $99.3 million at November 30, 2025, down from $139.6 million at November 30, 2024 [167]. - The Company expects to maintain sufficient liquidity to fund ongoing operations, with cash and cash equivalents of $99.3 million and availability under the U.S. Credit Agreement of $124.6 million at November 30, 2025 [169]. Debt and Obligations - The company reported total debt obligations of $275.0 million as of November 30, 2025, with an average interest rate of 5.7% [176]. - The company has short-term debt obligations of $5.6 million, with an average interest rate of 9.0% for the fiscal year 2026 [176]. - Film-related obligations amount to $14.8 million, with varying average interest rates between 5.0% and 6.6% [176]. Tax and Regulatory Matters - The interim effective tax rate for the six months ended November 30, 2025 was 28.0%, a decrease from 37.2% in the prior fiscal year period [127]. - The certifications of the Chief Executive Officer and Chief Financial Officer were filed pursuant to the Sarbanes-Oxley Act of 2002 [184]. - The report was signed by the President and Chief Executive Officer, Peter Warwick, and the Chief Financial Officer, Haji L. Glover, on December 19, 2025 [186]. Risk Management - The Company expects newly imposed tariffs to continue to increase cost of goods sold, particularly during the upcoming peak selling season [132]. - The company manages foreign currency exchange risks through established procedures and short-term forward exchange contracts, which were not significant as of November 30, 2025 [175]. - The company is exposed to market risks primarily from changes in interest rates affecting its variable-rate borrowings [176]. - The company’s cash flows and earnings are subject to fluctuations from changes in foreign currency exchange rates due to its operations in various foreign countries [175]. Internal Controls - There were no changes in the company's internal control over financial reporting that materially affected its effectiveness during the quarter ended November 30, 2025 [179]. - The Corporation's disclosure controls and procedures were effective as of November 30, 2025, ensuring timely reporting as required by the SEC [179]. - The company’s management has concluded that its disclosure controls and procedures were effective as of November 30, 2025 [179]. - There were no changes in the Corporation's internal control over financial reporting during the quarter ended November 30, 2025, that materially affected its internal controls [179]. Share Repurchase - The company has not repurchased any shares under its authorized stock repurchase program during the three months ended November 30, 2025 [181]. - No shares were repurchased under the Company's authorized stock repurchase program during the three months ended November 30, 2025 [181]. Contracts and Agreements - The Company has entered into multiple contracts of purchase and sale and lease agreements dated December 1, 2025, with ESRT 555-557 Broadway, L.L.C. and FNLR Fortuna Major LLC [183]. - The financial statements for the quarter ended November 30, 2025, include condensed consolidated statements of operations and cash flows, among others [184]. - The company did not report any adoption or termination of trading arrangements by its directors or officers during the quarter [182].

Financial Performance - Net sales for Q2 2026 were $327.5 million, an increase of 19% compared to Q2 2025[4] - Adjusted net earnings increased by 7% to $32.5 million, while net earnings decreased by 3% to $27.0 million[4] - Adjusted EBITDA grew 8% to $60.5 million, with operating income rising to $12.3 million from $3.5 million in the prior year[4][7] - Free cash flow improved by 15% to $39.1 million, up from $33.9 million in Q2 2025[4][11] - Operating cash flow for the quarter was $51.5 million, a 5% increase from $49.1 million in Q2 2025[4][11] - For the three months ended November 30, 2025, the GAAP net earnings were $27,328 thousand, with a diluted EPS of $0.55, while non-GAAP net earnings were $32,460 thousand, resulting in a diluted EPS of $0.65[35] - The adjusted EBITDA for the six months ended November 30, 2025, was $125,538 thousand, compared to $104,649 thousand for the same period in 2024, reflecting a year-over-year increase of approximately 20%[39] - Free cash flow for the three months ended November 30, 2025, was $39,086 thousand, up from $33,892 thousand in the same period of 2024, indicating a growth of about 15%[42] - The operating cash flow conversion for the six months ended November 30, 2025, was 148%, compared to 172% for the same period in 2024[42] Segment Performance - Building Products segment net sales increased by 31.9% to $207.5 million, driven by higher volumes and contributions from Elgen Manufacturing[14] - Consumer Products segment generated net sales of $119.9 million, a 2.7% increase over the prior year quarter[13] - The Building Products segment reported net sales of $207,528 thousand for the three months ended November 30, 2025, a 32.0% increase from $157,298 thousand in the same period of 2024[31] Assets and Liabilities - Total debt at quarter end was $305.3 million, with no borrowings under the revolving credit facility[12] - Total assets as of November 30, 2025, were $1,753,333 thousand, an increase from $1,695,152 thousand as of May 31, 2025[27] - Cash and cash equivalents decreased to $180,288 thousand from $250,075 thousand at the beginning of the period[29] Dividends and Shareholder Returns - The company declared a quarterly dividend of $0.19 per common share, payable on March 27, 2026[4] - Dividends declared per common share increased to $0.19 for the three months ended November 30, 2025, compared to $0.17 in the same period of 2024[25] Acquisitions and Investments - The company announced an agreement to acquire LSI Group for approximately $205 million, expected to close in January 2026[4][15] - The company’s investment in property, plant, and equipment for the three months ended November 30, 2025, was $12,432 thousand, compared to $15,161 thousand in the same period of 2024[42] Other Financial Metrics - Adjusted EBITDA margin for the consolidated results was 18.5% for the three months ended November 30, 2025, down from 20.5% in the same period of 2024[31] - The adjusted EBITDA margin for the three months ended November 30, 2025, was 18.5%, down from 20.5% in the same period of 2024[39] - The company reported a restructuring and other expense of $1,644 thousand for the three months ended November 30, 2025, which impacted the GAAP earnings[35] - The loss on the partial sale of investment in SES was $2,950 thousand for the three months ended November 30, 2025, affecting the overall earnings[35] - The net earnings attributable to controlling interest for the six months ended November 30, 2025, was $62,476 thousand, compared to $52,513 thousand in 2024, representing a year-over-year increase of approximately 19%[42]