Financial Performance - Cash and cash equivalents were $102.6 million as of September 30, 2025, down from $132.2 million a year earlier, indicating a decrease of approximately 22.3%[12] - The net loss for the fourth quarter was $9.8 million, or $0.11 per share, compared to a net loss of $11.6 million, or $0.14 per share for the same quarter in fiscal 2024, showing an improvement of 15.9%[12] - The company reported a total operating loss of $51.4 million for the year ended September 30, 2025, compared to $52.9 million for the previous year, indicating a slight improvement of 2.8%[18] Expenses - Research and development expenses for the fourth quarter were $7.3 million, a decrease of 37.8% compared to $11.6 million in the same quarter of fiscal 2024[12] - General and administrative expenses for the quarter increased to $3.5 million, up from $2.7 million in the comparable quarter of fiscal 2024, representing a rise of 29.6%[12] - Total operating expenses for the fourth quarter were $10.8 million, down from $14.3 million in the same quarter of fiscal 2024, reflecting a decrease of 24.8%[12] Clinical Development - The company plans to advance ANAVEX®3-71 towards pivotal clinical studies for the treatment of schizophrenia-related disorders[4] - Anavex's clinical pipeline includes updates on regulatory and clinical trials for blarcamesine in early Alzheimer's disease, Parkinson's disease, and Rett syndrome[4] - Anavex intends to request a re-examination of the CHMP opinion regarding the Marketing Authorisation Application for blarcamesine, following a negative trend vote[12] Cash Position - The company has a current cash runway of more than 3 years based on its current cash utilization rate, with a cash balance of over $120 million as of now[12]

Financial Performance - Net sales for Q2 FY26 were $2.3 billion, an increase of $58.9 million, or 3%, with a 5% increase when excluding divestitures and foreign currency effects[4] - Net income per diluted share was $2.26, while adjusted earnings per share decreased by 24% to $2.10[4] - Cash provided by operations was $346.5 million, down from $404.2 million in the prior year, and free cash flow was $280.2 million compared to $317.2 million[10] - The company updated its full-year fiscal 2026 guidance, expecting net sales to increase by 3.5% to 4.5% compared to the prior year[12] - Adjusted earnings per share guidance is now set at $8.75 to $9.25, reflecting an increase in net sales and adjusted gross profit margin of approximately 35%[13] - Net income for the three months ended October 31, 2025, was $241.3 million, compared to a net loss of $24.5 million in the same period of 2024[25] - Adjusted earnings per share for the three months ended October 31, 2025, were $2.10, down from $2.76 in the same period of 2024[42] - Net income per common share (assuming dilution) is projected to be between $5.66 and $6.16 for the year ending April 30, 2026[44] - Adjusted earnings per share are expected to range from $8.75 to $9.25 for the same period[44] Segment Performance - U.S. Retail Coffee segment net sales increased by 21% to $848.9 million, driven by higher net pricing, although segment profit decreased by 24%[14] - U.S. Retail Frozen Handheld and Spreads segment net sales decreased by 5% to $461.1 million, with segment profit down by 12%[15] - U.S. Retail Pet Foods segment net sales decreased by 7% to $413.2 million, while segment profit increased by 2%[16] - Sweet Baked Snacks segment net sales decreased by 19% to $256.1 million, with segment profit down by 69%[18] - International and Away From Home segment net sales increased by 9% to $350.8 million, with segment profit increasing by 12%[19] - U.S. Retail Coffee segment net sales increased to $848.9 million, up 20.5% from $704.0 million year-over-year[33] - The U.S. Retail Pet Foods segment reported net sales of $413.2 million, a decrease of 7.2% from $445.4 million in the prior year[33] Operational Metrics - Gross profit decreased by 2% to $869.9 million for the three months ended October 31, 2025, compared to $886.1 million in the prior year, resulting in a gross margin of 37.3%[25] - Operating income increased by 147% to $418.5 million for the three months ended October 31, 2025, compared to $169.7 million in the same period of 2024[25] - Total segment profit decreased to $479.0 million for the three months ended October 31, 2025, down from $578.8 million in 2024, reflecting a decline of 17.2%[33] - Adjusted operating income for the three months ended October 31, 2025, was $394.3 million, a decrease of 19.6% compared to $490.6 million in 2024[40] - The gross profit margin for the three months ended October 31, 2025, was 33.9%, down from 38.7% in 2024[40] - The company reported a 14% increase in the cost of products sold for the six months ended October 31, 2025, totaling $3,098.8 million compared to $2,713.0 million in the prior year[25] Cash Flow and Assets - Free cash flow for the three months ended October 31, 2025, was $280.2 million, compared to $317.2 million in 2024, indicating a decrease of 11.6%[42] - Cash and cash equivalents at the end of the period were $62.8 million, compared to $49.2 million at the end of the same period in 2024[29] - Total assets as of October 31, 2025, were $17,628.3 million, an increase from $17,563.3 million as of April 30, 2025[27] - Current liabilities decreased to $2,626.4 million as of October 31, 2025, from $2,652.0 million as of April 30, 2025[27] Strategic Initiatives - The company is focused on integrating Hostess Brands' operations and achieving financial forecasts related to this acquisition, which may impact future performance[21] - A non-recurring pre-tax settlement charge of $0.32 per share is anticipated due to the termination of a U.S. defined benefit pension plan[45] - The change in net cumulative unallocated derivative gains and losses is projected to be $0.72 per share, but future projections are uncertain due to market conditions[44]

Sales Performance - DICK'S Business reported a comparable sales growth of 5.7% in the third quarter, driven by increases in both average ticket and transactions [2]. - The company raised its full-year 2025 guidance for comparable sales growth to a range of 3.5% to 4.0%, up from the previous range of 2.0% to 3.5% [6]. - DICK'S Business achieved comparable sales growth of 5.7% for the 13 weeks ended November 1, 2025, compared to 4.3% for the same period in 2024 [21]. - Net sales for the 13 weeks ended November 1, 2025, were $4,167,773, a significant increase from $3,057,181 for the same period in 2024, representing a growth of 36.3% [34]. - For the 39 weeks ended November 1, 2025, net sales reached $10,989,066, up from $9,549,200 in 2024, marking an increase of 15.0% [36]. Financial Guidance - DICK'S Business earnings per diluted share guidance for 2025 was increased to a range of $14.25 to $14.55, up from $13.90 to $14.50 [6]. - DICK'S Business expects earnings per diluted share for full year 2025 to be between $14.25 and $14.55, based on approximately 81 million diluted shares outstanding [16]. - Net sales for DICK'S Business are projected to be between $13.95 billion and $14.0 billion, with comparable sales growth estimated at positive 3.5% to positive 4.0% [16]. Acquisitions and Expansion - The company completed the acquisition of Foot Locker for a total consideration of $2.5 billion, which included $2.1 billion in share consideration [12]. - DICK'S Sporting Goods opened 13 new House of Sport locations and 6 new DICK'S Field House locations during the third quarter [6]. - The company initiated a review of unproductive assets, expecting future pre-tax charges of $500 to $750 million related to the Foot Locker acquisition [14]. Financial Results - The company reported net sales of $4.168 billion for the third quarter, a 36.3% increase from $3.057 billion in the prior year [8]. - DICK'S Business net income for the third quarter was $226 million, a slight decrease of 1% compared to $228 million in the prior year [8]. - Total gross profit for DICK'S Sporting Goods for the 39 weeks ended November 1, 2025, was $3,682.9 million, up from $3,464.4 million in the same period last year [21]. - DICK'S Sporting Goods reported a business profit of $288.6 million for the 13 weeks ended November 1, 2025, compared to $289.5 million for the same period in 2024 [21]. - Net income for the 13 weeks ended November 1, 2025, was $75,212, down from $227,813 in the same period last year, reflecting a decline of 66.9% [34]. - The company reported an income from operations of $93,097 for Q3 2025, a decrease of 67.5% from $286,044 in Q3 2024 [34]. Expenses and Liabilities - Selling, general and administrative expenses increased to $1,118,600, representing 26.84% of net sales, compared to 25.86% in the prior year [34]. - Total current liabilities rose to $4.68 billion in November 2025, compared to $3.22 billion in November 2024, marking an increase of 45.4% [38]. - Long-term debt and financing lease obligations increased to $1.90 billion in November 2025, up from $1.48 billion in November 2024, reflecting a rise of 28.2% [38]. Cash Flow and Capital Expenditures - Cash and cash equivalents decreased by 44% to $821 million compared to $1.459 billion in the prior year [9]. - The company experienced a net cash provided by operating activities of $487.3 million, down from $680.3 million in the previous year, a decrease of 28.4% [40]. - Capital expenditures for DICK'S Business are anticipated to be approximately $1.2 billion on a gross basis and $1.0 billion on a net basis [16]. - Capital expenditures for the 39 weeks ended November 1, 2025, were $793.3 million, an increase of 40.3% compared to $565.6 million in the prior year [40]. Tax and Margins - The effective tax rate for consolidated Q4 2025 is projected to be approximately 29% [18]. - Gross profit margin decreased to 33.13% in Q3 2025 from 35.77% in Q3 2024, indicating rising costs in goods sold [34]. - The company reported a gross profit margin of 33.13% for the 13 weeks ended November 1, 2025 [42]. Non-GAAP Measures - The company reported a non-GAAP net income of $180.6 million for the 13 weeks ended November 1, 2025, translating to diluted earnings per share of $2.07 [42]. - The non-GAAP net income for the same period was $810,062, with earnings per diluted share at $9.74 [43]. - The company’s provision for income taxes for non-GAAP adjustments was calculated at 26%, reflecting the consolidated blended tax rate [45].

Financial Performance - Fourth quarter revenue reached $3.08 billion, representing a 26% year-over-year increase, with growth across all end markets, particularly in Communications and Industrial[4] - Fiscal 2025 revenue totaled $11.0 billion, up 17% compared to fiscal 2024[4] - Revenue for the three months ended November 1, 2025, was $3,076,117, representing a 26% increase from $2,443,205 for the same period last year[25] - The company reported a total of $11,019,707 in revenue for the twelve months ended November 1, 2025, marking a 17% increase from $9,427,157 in the prior year[32] Profitability Metrics - Adjusted diluted earnings per share for fiscal 2025 increased by 22% to $7.79 compared to $6.38 in the previous year[5] - Net income for the three months ended November 1, 2025, was $787,739, compared to $478,072 for the same period last year, reflecting a 64% increase[25] - Operating income for the twelve months ended November 1, 2025, reached $2,932,496, a significant rise from $2,032,798 in the previous year[25] - Adjusted operating income for the twelve months ended November 1, 2025, was $4,622,147, with an adjusted operating margin of 41.9%, compared to 40.9% in the previous year[34] Cash Flow and Shareholder Returns - Operating cash flow for fiscal 2025 was $4.8 billion, and free cash flow was $4.3 billion, accounting for 44% and 39% of revenue, respectively[4] - The company returned 96% of free cash flow to shareholders in fiscal 2025, including $2.2 billion in share repurchases and $1.9 billion in dividends[4] - The company achieved free cash flow of $4,278,650 for the trailing twelve months, which is 39% of revenue[35] Margins and Expenses - The adjusted operating margin for fiscal 2025 was 41.9%, an increase of 100 basis points from the previous year[5] - Gross margin for the twelve months ended November 1, 2025, was $6,773,478, up from $5,381,343, indicating a strong year-over-year growth[25] - For the three months ended November 1, 2025, the company reported a gross margin of $1,941,817, representing a gross margin percentage of 63.1%, up from 58.0% in the same period last year[34] - Operating expenses for the three months ended November 1, 2025, were $996,605, accounting for 32.4% of revenue, a decrease from 34.7% in the same period last year[34] Future Outlook - The company forecasts first quarter fiscal 2026 revenue of $3.1 billion, with an expected operating margin of approximately 31.0%[7] - The projected earnings per share for the three months ending January 31, 2026, is $1.60 reported and $2.29 adjusted, reflecting adjustments related to acquisition expenses[37][38] Market Trends and Strategic Focus - The company emphasized strong bookings trends in the fourth quarter, particularly in the Industrial and Communications markets[3] - Management remains confident in capitalizing on ongoing cyclical recovery and secular growth opportunities despite macroeconomic uncertainties[3] Research and Development - Research and development expenses for the three months ended November 1, 2025, were $467,021, up from $378,903, indicating a focus on innovation[25] Balance Sheet Highlights - Total current assets increased to $7,108,061 as of November 1, 2025, compared to $5,484,654 a year earlier[27] - Long-term debt rose to $8,145,066 as of November 1, 2025, compared to $6,634,313 the previous year, reflecting increased financing activities[27] Tax and Nonoperating Expenses - The effective tax rate for the twelve months ended November 1, 2025, was 16.4%, compared to 8.0% in the previous year[34] - Nonoperating expense for the three months ended November 1, 2025, was $58,012, compared to $53,064 in the same period last year[34] Capital Expenditures - Capital expenditures for the trailing twelve months were $(533,552), impacting the free cash flow generation[35]

Revenue Performance - Reported revenues for Q4 2025 were $264.0 million, a decrease of 7.7% compared to $286.1 million in Q4 2024[9] - Adjusted revenues for Q4 2025 were $263.3 million, down 10.4% on an adjusted constant currency basis[5] - U.S. revenues decreased by 15.2% on both a reported and adjusted constant currency basis[5] - International revenues increased by 2.8% on a reported basis but decreased by 4.0% on an adjusted constant currency basis[5] - The company's reported revenues decreased by $42.7 million, or 3.8%, to $1,080.4 million for the year ended September 30, 2025, compared to $1,123.1 million for the year ended September 30, 2024[11] - The decrease in reported revenues was primarily driven by $52.9 million of unfavorable changes in volume and $3.5 million associated with negative foreign currency translation impacts[11] - For fiscal year 2026, the company expects reported revenues to be between $1,071 million and $1,093 million, reflecting a growth rate of (0.9)% to 1.1%[12] - Adjusted revenues for the twelve months ended September 30, 2025, were $1,079.7 million, a decrease of 4.2% from $1,127.2 million in 2024[27] Profitability Metrics - Gross profit for Q4 2025 was $158.5 million, with a margin of 60.0%, compared to $173.8 million and 60.7% in the prior year[5] - Operating income for Q4 2025 was $56.5 million, with a margin of 21.4%, compared to $26.2 million and 9.2% in the prior year[5] - Net income for Q4 2025 was $26.4 million, with diluted earnings per share of $0.45, compared to $14.6 million and $0.25 in the prior year[5] - The company's net income for the year ended September 30, 2025, was $95.4 million, compared to $78.3 million for the previous year[19] - Net income for the twelve months ended September 30, 2025, was $95.4 million, an increase of 22.7% compared to $78.3 million in 2024[23] - Adjusted Operating Income for the twelve months ended September 30, 2025, reached $337.7 million, compared to $296.9 million for the same period in 2024, reflecting a 13.8% growth[36] - Adjusted Net Income for the twelve months ended September 30, 2025, was $173.9 million, compared to $143.1 million in 2024, reflecting a 21.5% growth[36] Cash Flow and Debt Management - Free cash flow for Q4 2025 was approximately $77 million, compared to $27 million in the prior year quarter[6] - The company reduced debt by approximately $72.4 million in Q4 2025, bringing total fiscal year 2025 debt reduction to approximately $184.5 million[6] - As of September 30, 2025, the company had $228.6 million in cash and equivalents and $1.417 billion of debt principal outstanding[14] - The company repaid approximately $72.4 million under its term loan B facility during the fourth quarter[14] - Payments on long-term debt increased significantly to $184.6 million in 2025 from $34.6 million in 2024[23] - Non-GAAP Free Cash Flow for the twelve months ended September 30, 2025, was $182.4 million, compared to $19.9 million in the previous year, indicating a substantial increase[38] - The company aims to prioritize free cash flow towards paying down debt and creating financial flexibility for future investments[42] Asset and Liability Management - Total current assets decreased from $761.0 million as of September 30, 2024, to $631.4 million as of September 30, 2025[21] - The total liabilities and equity decreased from $1,285.3 million as of September 30, 2024, to $1,090.9 million as of September 30, 2025[21] - Closing cash and equivalents decreased to $228.6 million in 2025 from $274.2 million in 2024[23] Capital Expenditures and Investments - Capital expenditures for the twelve months ended September 30, 2025, were $9.3 million, a decrease from $15.8 million in 2024[23] Other Financial Metrics - Adjusted EBITDA for the twelve months ended September 30, 2025, was $415.3 million, representing a 17.5% increase from $353.4 million in 2024[27] - The adjusted EBITDA margin improved to 38.5% in 2025 from 31.4% in 2024[27] - The company reported a GAAP gross profit margin of 62.6% for the twelve months ended September 30, 2025, down from 65.5% in 2024[32] - Stock-based compensation expense for the twelve months ended September 30, 2025, was $31.6 million, up from $26.3 million in 2024[23] Future Outlook - The company plans to maintain its global leadership position and execute on new product programs in fiscal year 2026[2]

Financial Performance - Clearfield's net sales from continuing operations for Q4 2025 were $41.1 million, a 13% increase from $36.2 million in Q4 2024[3] - Gross profit for Q4 2025 was $14.2 million, representing a 48% increase compared to $9.6 million in the same quarter last year[3] - The gross margin improved to 34.6% in Q4 2025, up from 26.6% in Q4 2024, reflecting an 8 percentage point increase[3] - For the full fiscal year 2025, net sales from continuing operations reached $150.1 million, a 20% increase from $125.6 million in fiscal 2024[4] - Net sales for the year ended September 30, 2025, were $150,134,000, representing a 19.6% increase from $125,568,000 in 2024[21] - Gross profit for the year ended September 30, 2025, was $50,537,000, compared to $25,847,000 in 2024, indicating a significant improvement in profitability[21] - The company reported a net loss of $8,050,000 for the year ended September 30, 2025, compared to a net loss of $12,453,000 in 2024[21] - Income from continuing operations before income taxes for 2025 was $8,667,000, a recovery from a loss of $11,762,000 in 2024[21] Operating Expenses - Operating expenses for fiscal 2025 increased 7% to $48.4 million, but as a percentage of sales, they decreased to 32.3% from 35.9% in fiscal 2024[13] - Operating expenses for the year ended September 30, 2025, were $48,419,000, up from $45,081,000 in 2024, indicating increased operational costs[21] Cash and Liquidity - Cash and cash equivalents increased to $21,493,000 in 2025 from $14,148,000 in 2024, reflecting improved liquidity[24] - Cash and cash equivalents at the end of the period increased to $21,493,000 from $14,148,000, representing a growth of 51.5%[28] - Net cash provided by operating activities was $2,897,000, compared to $4,453,000 in the previous period, indicating a decrease of 34.8%[28] - The net increase in cash and cash equivalents was $6,268,000, contrasting with a decrease of $21,660,000 in the previous period[28] Shareholder Actions - Clearfield's Board of Directors increased the share repurchase program authorization from $65 million to $85 million, reflecting confidence in the company's market opportunity[4] - The company repurchased common stock amounting to $16,653,000, a significant reduction from $33,374,000 in the prior period[28] Inventory and Assets - The company experienced a significant increase in inventories, which rose to $42,031,000 in 2025 from $56,096,000 in 2024[24] - Total current assets decreased to $198,488,000 as of September 30, 2025, down from $229,595,000 in 2024[24] - The company’s total assets decreased to $306,173,000 in 2025 from $315,275,000 in 2024[24] Future Outlook - Clearfield expects fiscal 2026 revenue from continuing operations to be between $160 million and $170 million, with EPS projected between $0.48 and $0.62[4] Divestitures - The company divested its European Nestor Cables business to focus on higher-return opportunities in North America[6] Other Financial Metrics - The weighted average shares outstanding for basic earnings per share were 13,989,489 in 2025, compared to 14,582,450 in 2024, indicating a reduction in share count[22] - Cash paid for income taxes was $1,670,000, up from $160,000, reflecting a substantial increase[28] - The company reported a net cash used in investing activities of $1,796,000, slightly higher than $1,627,000 in the prior period[28] - Cashless exercise of stock options amounted to $2,533,000, compared to $19,000 previously[28] - The effect of exchange rates on cash and cash equivalents resulted in a decrease of $97,000[28] - The net cash provided by discontinued operations was $4,101,000, compared to a cash outflow of $791,000 in the previous period[28] - Right of use assets obtained through lease liabilities were recorded at $4,364,000[28]

Financial Performance - Comparable sales increased by 2.7% in Q3 FY26, compared to a decline of 2.9% in Q3 FY25[2] - Total revenue for Q3 FY26 was $9.67 billion, up from $9.45 billion in Q3 FY25, representing a year-over-year increase of 2.4%[2] - Adjusted diluted EPS for Q3 FY26 was $1.40, compared to $1.26 in Q3 FY25[2] - Domestic revenue for Q3 FY26 was $8.88 billion, reflecting a 2.1% increase driven by comparable sales growth of 2.4%[4] - International revenue increased by 6.1% to $794 million, primarily due to a 6.3% increase in comparable sales[8] - Domestic online revenue reached $2.82 billion, a 3.5% increase, accounting for 31.8% of total domestic revenue[5] - Revenue for the three months ended November 1, 2025, was $9,672 million, an increase of 2.4% compared to $9,445 million for the same period last year[23] - Net earnings for the three months ended November 1, 2025, were $140 million, down from $273 million in the same period last year, leading to a diluted earnings per share of $0.66[23] - Adjusted diluted EPS for the three months ended November 1, 2025, was $1.40, an increase from $1.26 in the same period last year[34] - The diluted EPS for the nine months ended November 1, 2025, was $2.48, down from $3.73 in the same period of 2024[34] Guidance and Projections - The company raised its FY26 adjusted diluted EPS guidance to a range of $6.25 to $6.35, up from the previous guidance of $6.15 to $6.30[11] Profitability and Margins - The domestic gross profit rate decreased to 23.3% from 23.6% in the previous year, attributed to lower product margin rates[6] - Gross profit for the nine months ended November 1, 2025, was $6,491 million, slightly up from $6,467 million in the prior year, resulting in a gross profit margin of 23.3%[23] - For the three months ended November 1, 2025, the operating income was $198 million, representing 2.0% of revenue, compared to $350 million (3.7% of revenue) for the same period in 2024[33] - Adjusted operating income for the nine months ended November 1, 2025, was $1,090 million, slightly up from $1,065 million in the same period of 2024[33] Shareholder Returns - The company returned $234 million to shareholders in Q3 FY26 through dividends and share repurchases[14] Asset and Cash Management - Cash and cash equivalents at the end of the period were $1,194 million, up from $938 million at the same time last year[27] - The company reported a total cash provided by operating activities of $684 million for the nine months ended November 1, 2025, compared to $561 million in the prior year[27] - Total assets decreased to $16,786 million as of November 1, 2025, from $17,018 million a year earlier[25] Impairments and Charges - Best Buy recorded pre-tax non-cash asset impairments of $192 million related to Best Buy Health during Q3 FY26[11] - The company reported a long-lived asset impairment of $21 million for the three months ended November 1, 2025, compared to no impairment in the same period last year[33] - The company incurred restructuring charges of $218 million for the nine months ended November 1, 2025, compared to $4 million in the prior year[27] - The loss on disposal of subsidiaries was $4 million for the nine months ended November 1, 2025, with no comparable loss in the previous year[34] Taxation - The effective tax rate for the three months ended November 1, 2025, was 31.5%, compared to 23.9% in the same period last year[23] - The adjusted effective tax rate for the nine months ended November 1, 2025, was 26.4%, compared to 24.8% in the prior year[33]

Financial Performance - Net sales for Q3 2025 decreased by 2.8% year-over-year to $3.4 billion, with comparable sales down 1.7%[5] - Gross margin increased by 51 basis points to 39.6% of net sales[6] - SG&A expenses decreased by 2.1% year-over-year to $1.3 billion, representing 35.3% of total revenue, an increase of 55 basis points[6] - Operating income for Q3 2025 was $73 million, down from $98 million in the prior year, with an adjusted operating income of $77 million[6] - Net income for Q3 2025 was $8 million, or $0.07 per diluted share, compared to $22 million, or $0.20 per diluted share, in the prior year[6] - Net income for the nine months ended November 1, 2025, was $147 million, a significant increase from $61 million in the same period last year, reflecting a growth of 141%[20] Cash Flow and Liquidity - Cash flow from operating activities was $124 million, a significant improvement from a use of $195 million in the prior year[6] - Net cash provided by operating activities rose to $630 million for the nine months ended November 1, 2025, compared to $52 million in the prior year, indicating a substantial improvement[20] - Cash and cash equivalents at the end of the period were $144 million, down from $174 million, a decrease of 17.24%[20] - The company reported a net cash used in investing activities of $269 million, compared to $363 million in the previous year, showing a reduction of 25.93%[20] - The company had a net cash outflow from financing activities of $351 million, contrasting with a net inflow of $302 million in the prior year[20] Inventory and Assets - Inventory decreased by 5% year-over-year to $3.9 billion[6] - Merchandise inventories decreased from $4,099 million to $3,895 million, a reduction of 4.97% year-over-year[18] - Total assets decreased from $15,054 million in November 2, 2024, to $14,144 million in November 1, 2025, representing a decline of 6.05%[18] - Total current liabilities decreased from $4,393 million to $3,307 million, a decline of 24.74%[18] - Long-term debt increased from $1,174 million to $1,522 million, an increase of 29.6%[18] Dividends and Financial Outlook - Dividends paid decreased significantly from $166 million to $42 million, a reduction of 74.7%[20] - The company raised its full-year 2025 financial outlook following the Q3 results[5] - For the full year 2025, Kohl's expects net sales to decrease by 3.5% to 4% and adjusted diluted EPS in the range of $1.25 to $1.45[11] Leadership Changes - Kohl's Board of Directors appointed Michael J. Bender as CEO effective immediately[4]

Financial Performance - Total sales increased by 7% year-over-year to $2,706 million in Q3 2025, while comparable store sales rose by 1%[4] - Net income for Q3 2025 was $105 million, with diluted EPS at $1.63, compared to $91 million and $1.40 per share in Q3 2024[6] - Adjusted EPS increased by 16% to $1.80, and the company raised its full-year Adjusted EPS guidance to a range of $9.69 to $9.89[6][11] - Net sales for the three months ended November 1, 2025, were $2,706,003, an increase from $2,526,174 for the same period in 2024, representing a growth of approximately 7.1%[24] - Total revenue for the nine months ended November 1, 2025, reached $7,919,531, compared to $7,357,766 for the same period in 2024, indicating a year-over-year increase of about 7.6%[24] - Net income for the nine months ended November 1, 2025, was $299,767, up from $242,871 in the prior year, reflecting a growth of approximately 23.4%[24] - Diluted net income per share for the three months ended November 1, 2025, was $1.63, compared to $1.40 for the same period in 2024, marking an increase of about 16.4%[24] Inventory and Assets - Merchandise inventories were $1,658 million, a 15% increase from Q3 2024, while comparable store inventories decreased by 2%[8] - Merchandise inventories increased to $1,658,435 as of November 1, 2025, compared to $1,440,695 in the prior year, representing a rise of about 15.1%[26] - Total assets grew to $9,596,718 as of November 1, 2025, up from $8,442,860 a year earlier, indicating an increase of approximately 13.6%[26] Debt and Liquidity - The company ended Q3 2025 with $1,532 million in liquidity, including $584 million in unrestricted cash[13] - Total outstanding debt was $2,035 million, with $1,723 million on the Term Loan facility[13] - Long-term debt increased to $2,015,471 as of November 1, 2025, compared to $1,542,712 in the previous year, reflecting a rise of about 30.7%[26] Operating Activities - The company reported net cash provided by operating activities of $293,864 for the nine months ended November 1, 2025, down from $320,212 in the same period of 2024, a decrease of approximately 8.2%[29] - Cash used in investing activities was $837,813 for the nine months ended November 1, 2025, compared to $535,886 in the prior year, indicating an increase of about 56.2%[29] Adjusted Metrics - Adjusted Net Income for the three months ended November 1, 2025, was $107,458,000, compared to $99,895,000 for the same period in 2024, representing an increase of 2.1%[38] - Adjusted Earnings per Share (EPS) for the nine months ended November 1, 2025, was $4.87, up from $4.10 in the same period of 2024, reflecting a growth of 18.9%[38] - Adjusted EBIT for the three months ended November 1, 2025, was $155,907,000, compared to $141,316,000 for the same period in 2024, indicating a year-over-year increase of 10.4%[38] - Adjusted EBITDA for the nine months ended November 1, 2025, reached $738,993,000, compared to $641,990,000 for the same period in 2024, marking an increase of 15.1%[38] Expenses and Charges - SG&A expenses for the three months ended November 1, 2025, totaled $947,518,000, compared to $893,092,000 for the same period in 2024, reflecting an increase of 6.1%[38] - The Company reported net favorable lease costs of $1,891,000 for the three months ended November 1, 2025, down from $2,851,000 in the same period of 2024[38] - Impairment charges for long-lived assets were $3,786,000 for the three months ended November 1, 2025, compared to $3,044,000 for the same period in 2024, indicating an increase of 24.3%[38] Future Outlook - The company plans to open 104 net new stores in Fiscal 2025[14] - Total sales are expected to increase by approximately 8% for the full fiscal year, with comparable store sales projected to rise by 1% to 2%[14] Tax Rate - The effective tax rate on a GAAP basis for the three months ended November 1, 2025, was 24.1%, slightly up from 23.2% in the same period of 2024[39] Share Information - The diluted weighted average shares outstanding for the three months ended November 1, 2025, was 64,068,000, compared to 64,619,000 for the same period in 2024[38] Non-GAAP Measures - The Company believes that non-GAAP measures provide useful supplemental information for evaluating its operations and financial condition, although calculations may vary among companies in the retail industry[37]

Financial Performance - Total revenues for Q3 2025 reached $25.4 million, a 72.0% increase from $14.8 million in Q3 2024, driven by strong growth in Robotaxi services and Licensing & Applications[9] - Revenues for the three months ended September 30, 2025, increased to $25,442 thousand, up 72% from $14,789 thousand in the same period of 2024[34] - Gross profit for the nine months ended September 30, 2025, reached $10,448 thousand, representing a 165% increase compared to $3,947 thousand for the same period in 2024[34] - The net loss for Q3 2025 was $61.6 million, compared to $42.1 million in Q3 2024, with a non-GAAP net loss of $55.0 million[16] - Net loss attributable to Pony AI Inc. for the three months ended September 30, 2025, was $61,315 thousand, compared to a net loss of $41,890 thousand for the same period in 2024[34] - Non-GAAP net loss per ordinary share for the three months ended September 30, 2025, was $(0.14), compared to $(3.50) for the same period in 2024[38] Revenue Sources - Robotaxi services revenues were $6.7 million in Q3 2025, up 89.5% from $3.5 million in Q3 2024, with fare-charging revenues surging over 200% year-over-year[11] - Licensing and applications revenues increased significantly by 354.6% to $8.6 million in Q3 2025 from $1.9 million in Q3 2024, reflecting robust demand for the autonomous domain controller[11] Operational Metrics - The company achieved city-wide unit economics breakeven for Gen-7 Robotaxis in Guangzhou, with daily average orders per vehicle reaching 23[19] - The Gen-7 Robotaxi fleet consists of 961 vehicles, including 667 Gen-7 units, with plans to exceed 1,000 vehicles by year-end and 3,000 by the end of 2026[7] - The company is expanding its Robotaxi operations into new markets, including Qatar, and reinforcing existing markets in Singapore, Luxembourg, and South Korea[10] Expenses - Research and development expenses rose to $60.4 million in Q3 2025, a 79.6% increase from $33.6 million in Q3 2024, primarily due to investments in Gen-7 vehicle development[19] - Research and development expenses for the three months ended September 30, 2025, were $60,384 thousand, a 79% increase from $33,614 thousand in the same period of 2024[34] - Operating expenses for Q3 2025 were $74.3 million, up 76.7% from $42.1 million in Q3 2024, driven by increased personnel costs and professional service fees[14] Financial Position - The dual primary listing in Hong Kong raised over $800 million, enhancing the company's financial position for mass production and market expansion[6] - Total assets decreased from $1,050,821 thousand as of December 31, 2024, to $900,666 thousand as of September 30, 2025[32] - Cash and cash equivalents dropped significantly from $535,976 thousand as of December 31, 2024, to $98,995 thousand as of September 30, 2025[32] - Total liabilities increased from $82,110 thousand as of December 31, 2024, to $88,674 thousand as of September 30, 2025[32] - Free cash flows (Non-GAAP) for the nine months ended September 30, 2025, were $(173,607) thousand, compared to $(85,440) thousand for the same period in 2024[40] - The weighted average number of ordinary shares outstanding used in computing net loss per ordinary share for the three months ended September 30, 2025, was 385,292,553[38]