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SLM Corporation(JSM) - 2025 Q3 - Quarterly Results
2025-10-28 21:58
Financial Performance - Navient reported a GAAP net loss of $86 million, translating to a diluted loss per share of $0.87 for Q3 2025[3]. - Core Earnings net loss was $83 million, with a diluted loss per share of $0.84, impacted by a $168 million provision for loan losses[3]. - Net income for Q3 2025 was $(86) million, a decrease from $14 million in Q2 2025 and $(2) million in Q3 2024[19]. - Diluted earnings per share for Q3 2025 was $(0.87), compared to $0.13 in Q2 2025 and $(0.02) in Q3 2024[21]. - The company reported a significant increase in net income (loss) before income tax expense to $(117) million in Q3 2025, down from $18 million in Q2 2025 and $12 million in Q3 2024[21]. - For the three months ended September 30, 2025, the net loss was $86 million, or $0.87 diluted loss per common share, compared to a net loss of $2 million, or $0.02 diluted loss per common share for the same period in 2024[24]. - The net loss for the nine months ended September 30, 2025, was $75 million, or $0.75 diluted loss per share, compared to net income of $107 million, or $0.95 diluted earnings per share for the same period last year[29]. Loan Performance - The Federal Education Loans segment generated a net income of $35 million, with a net interest margin of 0.84%[4]. - Consumer Lending segment reported a net loss of $76 million, with a significant increase in provision for loan losses to $155 million, primarily due to elevated delinquency balances[9]. - The greater than 90-days delinquency rate for Private Education Loans was 2.8%, reflecting an increase from the previous year[9]. - Provisions for loan losses increased significantly to $168 million in Q3 2025, compared to $37 million in Q2 2025 and $42 million in Q3 2024[21]. - The allowance for loan losses increased to $186 million for FFELP Loans and $406 million for Private Education Loans as of September 30, 2025[23]. - The total provision for loan losses was $68 million, with a gross charge-off of $301 million during the period[39]. - The net charge-offs for Private Education Loans were $29 million, representing 0.14% of average loans in repayment, while FFELP Loans had net charge-offs of $261 million, or 2.15%[39]. Revenue and Income - Total interest income for Q3 2025 was $781 million, a slight increase from $778 million in Q2 2025 but a decrease of $167 million (18%) from $948 million in Q3 2024[21]. - Net interest income after provisions for loan losses was $(26) million in Q3 2025, down from $91 million in Q2 2025 and $78 million in Q3 2024[21]. - The company reported interest income of $2.361 billion for the three months ended September 30, 2025, a decrease of $587 million or 20% from the previous year[22]. - The company reported a total of $4 million in net impact from derivative accounting adjustments for the quarter[56]. - Total other income for the quarter was $19 million, with servicing revenue accounting for $13 million[54]. Expenses and Liabilities - Operating expenses totaled $105 million, with $6 million related to transition services from strategic initiatives[4]. - Total expenses for the quarter were $110 million, including direct operating expenses of $61 million and unallocated shared services expenses of $44 million[54]. - Total liabilities were $46.867 billion as of September 30, 2025, compared to $50.746 billion a year prior[23]. - The company’s total equity decreased to $2.439 billion as of September 30, 2025, down from $2.694 billion a year earlier[23]. Shareholder Actions - The company repurchased $26 million of common shares and authorized a new $100 million share repurchase program[4]. - The company repurchased 2.0 million shares of common stock for $26 million in Q3 2025, with $26 million of unused share repurchase authority remaining[43]. - The company repurchased 6.4 million shares during the nine months ended September 30, 2025, resulting in a decrease of 12 million average outstanding diluted shares (or 11%) from the year-ago period[32]. Strategic Initiatives - The company is focusing on market expansion and new product development as part of its strategic initiatives moving forward[66]. - The company expects to fund ongoing liquidity needs through cash on hand, operating cash flows, and potential additional debt issuance[42].
Navient(NAVI) - 2025 Q3 - Quarterly Results
2025-10-28 21:58
Financial Performance - Navient reported a GAAP net loss of $86 million, translating to a diluted loss per share of $0.87 for Q3 2025[3]. - Core Earnings net loss was $83 million, with a diluted loss per share of $0.84[3]. - Net income for Q3 2025 was $(86) million, a decrease from $14 million in Q2 2025 and $(2) million in Q3 2024[19]. - Diluted earnings per share for Q3 2025 was $(0.87), compared to $0.13 in Q2 2025 and $(0.02) in Q3 2024[21]. - The company reported a significant increase in net income (loss) before income tax expense to $(117) million in Q3 2025, down from $18 million in Q2 2025 and $12 million in Q3 2024[21]. - Net loss for the nine months ended September 30, 2025, was $75 million, or $0.75 diluted loss per share, compared to net income of $107 million, or $0.95 diluted earnings per share for the same period last year[29]. Loan Loss Provisions - The company recorded a provision for loan losses of $168 million, with $155 million attributed to Consumer Lending due to elevated delinquency balances[3]. - Provisions for loan losses increased significantly to $168 million in Q3 2025, compared to $37 million in Q2 2025 and $42 million in Q3 2024[21]. - The allowance for loan losses increased to $186 million for FFELP Loans and $406 million for Private Education Loans as of September 30, 2025[23]. - The total provision for loan losses was $68 million, with a charge-off of $301 million during the period[39]. - The provision for FFELP Loan losses was $29 million in the current period, up from $(6) million in the year-ago period, reflecting elevated delinquency balances[29]. Interest Income and Expenses - Total interest income for Q3 2025 was $781 million, a slight increase from $778 million in Q2 2025 but a decrease of $167 million (18%) from $948 million in Q3 2024[21]. - Total interest income for the quarter ended September 30, 2025, was $781 million, with education loans contributing $760 million[54]. - The total interest expense for the quarter was $639 million, leading to a net interest income (loss) of $142 million before provisions[54]. - Net interest income after provisions for loan losses was $(26) million in Q3 2025, down from $91 million in Q2 2025 and $78 million in Q3 2024[21]. - Net interest income decreased by $1 million primarily due to the paydown of loan portfolios and decreasing interest rates, despite a $54 million decline in net premium amortization[31]. Share Repurchase and Equity - The company repurchased $26 million of common shares and authorized a new $100 million share repurchase program[4]. - The company repurchased 2.0 million shares of common stock for $26 million in Q3 2025, with $26 million of unused share repurchase authority remaining[43]. - The total stockholders' equity before treasury stock was $7.974 billion as of September 30, 2025, down from $8.071 billion a year prior[23]. Asset and Liability Management - Total assets decreased to $49.306 billion as of September 30, 2025, down from $53.440 billion a year earlier[23]. - Total liabilities were $46.867 billion as of September 30, 2025, compared to $50.746 billion a year prior[23]. - The company’s cash and cash equivalents decreased to $571 million as of September 30, 2025, down from $1.143 billion a year earlier[23]. - The company has $2.8 billion of unencumbered tangible assets, including $1.3 billion in unencumbered education loans[46]. Delinquency and Charge-Off Rates - The net charge-off rate for Private Education Loans increased to 2.48% in Q3 2025, up from 1.87% in Q3 2024[9][10]. - Private Education Loan delinquencies as a percentage of loans in repayment increased to 6.1% as of September 30, 2025, compared to 5.3% a year earlier[33]. - Net charge-offs for the quarter were $105 million, with $9 million for FFELP loans and $96 million for Private Education loans, resulting in a net charge-off percentage of 0.15% and 2.50% respectively[37]. Business Operations and Strategic Focus - The company plans to continue focusing on market expansion and new product development to drive future growth[66]. - The financial results indicate a need for strategic adjustments in response to the significant losses reported in the quarter[54]. - Core Earnings adjustments to GAAP resulted in an increase of $9 million for the quarter, primarily due to derivative accounting and goodwill adjustments[56].
DBV Technologies(DBVT) - 2025 Q3 - Quarterly Results
2025-10-28 21:40
Financial Performance - DBV Technologies reported a net loss of $102.1 million for the nine months ended September 30, 2025, compared to a net loss of $90.9 million for the same period in 2024, representing an increase of 12.9%[7] - Operating expenses increased to $107.0 million for the nine months ended September 30, 2025, up from $96.4 million in the same period of 2024, primarily due to the launch of the COMFORT Toddlers supplemental safety study[5] - The company recorded operating income of $5.0 million for the nine months ended September 30, 2025, compared to $3.6 million for the same period in 2024, reflecting a growth of 38.9%[4] - Research tax credits increased to $5.0 million for the nine months ended September 30, 2025, compared to $3.6 million in 2024, indicating a rise of 38.9%[4] - Net cash flows used in operating activities decreased to $86.0 million for the nine months ended September 30, 2025, from $92.2 million in the same period of 2024, a reduction of 6.7%[18] Cash Position and Financing - Cash and cash equivalents rose to $69.8 million as of September 30, 2025, compared to $32.5 million at the end of 2024, marking a net increase of $37.4 million[9] - The company anticipates that its cash and cash equivalents will be sufficient to fund operations into the third quarter of 2026, based on current plans and assumptions[14] - An equity offering program was established in September 2025, allowing the company to offer American Depositary Shares with an aggregate offering price of up to $150.0 million[13] - The company expects to utilize proceeds from a private placement financing of up to $306.9 million to advance the Viaskin® Peanut patch through Biologics License Application submission and U.S. commercial launch, if approved[10] Future Prospects - The VITESSE Phase 3 study's primary endpoint achievement will trigger an acceleration of warrant exercises, potentially providing up to $181.4 million in gross proceeds[12]
Sysco(SYY) - 2026 Q1 - Quarterly Report
2025-10-28 21:40
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 27, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-6544 ________________ Sysco Corporation (Exact name of registrant as specified in its charter) Delaware 74-1648137 (State or other jurisdictio ...
OGE Energy (OGE) - 2025 Q3 - Quarterly Results
2025-10-28 21:38
Earnings Performance - OGE Energy Corp. reported earnings of $1.14 per diluted share for Q3 2025, up from $1.09 per diluted share in Q3 2024, reflecting a 4.6% increase[2] - OG&E contributed net income of $242.9 million, or $1.20 per diluted share, in Q3 2025, compared to $225.0 million, or $1.12 per diluted share, in the same period of 2024, marking a 7.6% increase in net income[3] - The company reported a net income of $231.3 million for Q3 2025, compared to $218.7 million in Q3 2024, which is a 5.9% increase[4] - OGE Energy's operating income for Q3 2025 was $341.3 million, up from $313.2 million in Q3 2024, indicating a growth of 9.0%[11] Revenue Growth - Total operating revenues for Q3 2025 were $1,045.0 million, an increase of 8.3% from $965.4 million in Q3 2024[11] - System sales revenues for the nine months ended September 30, 2025, were $2,312.6 million, up 11.2% from $2,079.2 million in the same period of 2024[14] - Commercial operating revenues grew to $319.1 million in Q3 2025, a 10.4% increase from $288.8 million in Q3 2024[14] - Integrated market revenues increased to $23.6 million in Q3 2025, compared to $19.2 million in Q3 2024[14] - Public authorities and street light revenues were $87.7 million in Q3 2025, slightly up from $86.8 million in Q3 2024[14] Expenses and Costs - Fuel, purchased power, and direct transmission expenses rose to $388.5 million in Q3 2025, compared to $350.1 million in Q3 2024, reflecting an increase of 11.0%[11] - Interest expense increased to $69.6 million in Q3 2025 from $64.2 million in Q3 2024, representing an increase of 5.3%[11] - Weighted-average cost of natural gas increased to 3.190 cents per kilowatt-hour in Q3 2025, compared to 2.142 cents in Q3 2024[14] - Total fuel and purchased power costs rose to 3.732 cents per kilowatt-hour in Q3 2025, up from 3.448 cents in Q3 2024[14] Customer Metrics - The number of customers remained stable at 910,464, compared to 904,900 in the previous year[14] - MWh sales for residential customers were 3.1 million in Q3 2025, slightly down from 3.2 million in Q3 2024[14] Future Outlook - OGE Energy's 2025 consolidated earnings guidance remains projected to be in the top half of the range of $2.21 to $2.33 per average diluted share[5] - The company is constructing approximately 550 MW of new natural gas turbines to address growing energy needs[3] Losses - Other Operations reported a loss of $11.6 million, or $0.06 per share, in Q3 2025, compared to a loss of $6.3 million, or $0.03 per diluted share, in Q3 2024, indicating a worsening of 84.1% in net loss[4]
OGE Energy (OGE) - 2025 Q3 - Quarterly Report
2025-10-28 21:37
| UNITED STATES | | | | --- | --- | --- | | SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | | | | FORM 10-Q | | | | ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | | For the quarterly period ended September 30, 2025 | | | | OR | | | | ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | | For the transition period from _____to_____ | | | | Exact name of registrants as specified in their charters, address ...
WaFd Bank(WAFD) - 2025 Q4 - Annual Results
2025-10-28 21:37
Exhibit 99.2 WaFd Inc. Announces Annual and Fourth Quarter 2025 Results WaFd, Inc. Fact Sheet September 30, 2025 | | | | | | ($ in Thousands) | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | As of 03/25 | | | | As of 06/25 | | | | As of 09/25 | | | | Allowance for Credit Losses (ACL) - | | | | | | | | | | | | | | Total | $ | 222,709 | | | $ | 219,268 | | | $ | 221,220 | | | | ACL - Loans | | 202,709 | | | | 198,768 | | | | 199,720 | | | | ACL - Unfunded C ...
Cadence(CDNS) - 2025 Q3 - Quarterly Report
2025-10-28 21:36
UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-15867 _____________________________________ CADENCE DESIGN SYSTEMS, INC. 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 end ...
Stride(LRN) - 2026 Q1 - Quarterly Report
2025-10-28 21:35
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 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: 001-33883 Stride, Inc. (Exact name of registrant as specified in its charter) Delaware 95-4774688 (State or other jurisd ...
Finward Bancorp(FNWD) - 2025 Q3 - Quarterly Results
2025-10-28 21:28
Financial Performance - Net income available to common stockholders for Q3 2025 was $3.5 million, or $0.81 per diluted share, compared to $2.2 million, or $0.50 per diluted share in Q2 2025, reflecting a 59.1% increase in net income [1]. - Basic earnings per share for Q3 2025 was $0.82, significantly higher than $0.50 in Q2 2025 and $0.11 in Q1 2025 [20]. - Net income for Q3 2025 was $3,497, a significant increase of 62.5% from $2,151 in Q2 2025 [27]. - Earnings per common share for Q3 2025 were $0.82, up from $0.50 in Q2 2025, reflecting a growth of 64% [27]. Return Ratios - Return on equity improved to 8.96% in Q3 2025 from 5.66% in Q2 2025, while return on assets increased to 0.68% from 0.42% [2]. - Return on equity for Q3 2025 increased to 8.96%, up from 5.66% in Q2 2025 and 1.17% in Q1 2025 [19]. - Return on assets improved to 0.68% in Q3 2025, compared to 0.42% in Q2 2025 and 0.09% in Q1 2025 [19]. Asset and Liability Management - Total assets as of September 30, 2025, were $2,058,840,000, an increase from $2,041,936,000 at the end of Q2 2025 [22]. - Total liabilities decreased to $1,887,229 as of September 30, 2025, down from $1,903,658 on June 30, 2025, a decline of 0.86% [26]. - Total stockholders' equity rose to $165,495 as of September 30, 2025, up from $154,253 on June 30, 2025, representing a growth of 7.9% [26]. Loan and Deposit Activity - Total deposits reached $1.8 billion as of September 30, 2025, with non-interest-bearing deposits increasing by $9.1 million to $280.3 million [6]. - The Bank originated $62.6 million in new commercial loans during Q3 2025, up from $46.1 million in Q2 2025, indicating a 35.5% increase in loan originations [10]. - Non-performing loans increased to $13.9 million, representing 0.94% of total loans, up from 0.91% in Q2 2025 [10]. - Total deposits as of September 30, 2025, were $1,750,646 thousand, a slight decrease of 0.2% from $1,754,850 thousand in the previous quarter, but an increase of 0.1% compared to $1,748,810 thousand a year ago [31]. Credit Quality - The allowance for credit losses on loans was $18.0 million, or 1.22% of total loans, showing a slight decrease of 1.1% from the previous quarter [8]. - Non-performing loans to total loans ratio was 0.94% in Q3 2025, slightly up from 0.91% in Q2 2025 [19]. - The provision for loan losses was $61 thousand, compared to a benefit of $185 thousand in the previous quarter, indicating a shift in credit quality outlook [34]. Income and Expense - Total interest income for Q3 2025 was $23,340, an increase of 2.96% from $22,670 in Q2 2025 [27]. - Net interest income after provision for credit losses increased to $14,744 in Q3 2025, up from $14,219 in Q2 2025, representing a growth of 3.7% [27]. - Total non-interest expense decreased to $14,097 from $14,786, showing a reduction of approximately 4.66% [38]. Capital Ratios - The common equity tier 1 capital ratio was 11.49% as of September 30, 2025, exceeding the minimum required for capital adequacy purposes of 4.50% [36]. - Tangible common equity (non-GAAP) was reported at $141,827 thousand, an increase from $130,444 thousand in the previous quarter [37]. - Total equity to total assets (GAAP) improved to 8.06%, up from 7.50% in the previous quarter, indicating a stronger capital position [38]. Efficiency Metrics - Efficiency ratio improved to 81.22%, down from 88.92% in the prior quarter, indicating enhanced operational efficiency [38]. - Net interest margin improved to 3.04%, compared to 2.97% in the previous quarter, representing a growth of 0.07 percentage points [38].