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Spire(SR) - 2026 Q1 - Quarterly Results
2026-02-03 12:04
Financial Performance - For the first quarter of fiscal 2026, Spire reported net income of $95.0 million, or $1.54 per diluted share, compared to $81.3 million, or $1.34 per share, in the prior year, representing a year-over-year increase of 16.5% in net income [3]. - Adjusted earnings for the first quarter were $108.4 million, or $1.77 per share, an increase of $0.43 compared to $81.1 million, or $1.34 per share, in the previous year [3]. - Total operating revenues for the first quarter were $762.2 million, up from $669.1 million in the prior year, reflecting a 13.9% increase [21]. - Operating income increased to $173.5 million from $148.8 million, marking a 16.6% rise year-over-year [21]. - Net income for the three months ended December 31, 2025, was $95.0 million, compared to $81.3 million for the same period in 2024, reflecting a year-over-year increase of 16.5% [23]. - Adjusted earnings for the three months ended December 31, 2025, were $108.4 million, up from $81.1 million in 2024, marking a significant increase of 33.6% [24]. - Operating Revenues for the three months ended December 31, 2025, were $762.2 million, an increase from $669.1 million in the same period of 2024, representing a year-over-year growth of approximately 13.9% [26]. - Contribution Margin (Non-GAAP) for Q4 2025 was $419.6 million, up from $372.3 million in Q4 2024, indicating a growth of about 12.7% [26]. - Operating Income (GAAP) for Q4 2025 was $173.5 million, compared to $148.8 million in Q4 2024, reflecting an increase of approximately 16.6% [26]. Segment Performance - The Gas Utility segment's adjusted earnings increased to $103.9 million from $77.8 million, driven by higher earnings at Spire Missouri and Spire Alabama [5]. - Contribution margin rose by $48.0 million, primarily due to new rates in Spire Missouri and increased revenues from the Infrastructure System Replacement Surcharge (ISRS) [6]. - The company reported a contribution margin of $380.2 million from utility operations in Q4 2025, compared to $332.2 million in Q4 2024, indicating a growth of approximately 14.5% [26]. Guidance and Future Plans - The company affirmed its fiscal 2026 adjusted earnings guidance range of $5.25–$5.45 per share and fiscal 2027 guidance of $5.65–$5.85 per share [3]. - The company plans a 10-year capital investment target of $11.2 billion through fiscal 2035, focusing on infrastructure and new business in the Gas Utility segment [15]. Debt and Assets - Long-term debt (less current portion) rose to $4,449.4 million in September 2025, compared to $3,369.4 million in December 2024, indicating an increase of 32.0% [22]. - Total assets increased to $11,881.9 million in September 2025, up from $11,575.3 million in December 2024, representing a growth of 2.6% [22]. - The company issued $1,100.0 million in long-term debt during the financing activities for the three months ended December 31, 2025 [23]. Cash Flow and Expenses - Cash provided by operating activities was $81.0 million for the three months ended December 31, 2025, slightly down from $81.1 million in 2024 [23]. - Capital expenditures for the three months ended December 31, 2025, were $202.8 million, down from $260.6 million in 2024, a decrease of 22.1% [23]. - Total current liabilities decreased to $1,713.3 million in September 2025 from $2,548.6 million in December 2024, a reduction of 32.7% [22]. - Retained earnings increased to $1,127.7 million in September 2025, compared to $1,087.6 million in December 2024, reflecting a growth of 3.7% [22]. - The cash balance at the end of the period was $39.9 million, down from $41.9 million at the end of December 2024, a decrease of 4.8% [23]. Operating Expenses - Natural gas costs for Q4 2025 totaled $312.7 million, which is higher than $270.0 million in Q4 2024, marking an increase of about 15.9% [26]. - Operation and maintenance expenses for Q4 2025 were $139.9 million, slightly up from $129.3 million in Q4 2024, showing an increase of approximately 8.1% [26]. - Depreciation and amortization expenses rose to $81.4 million in Q4 2025 from $72.3 million in Q4 2024, representing an increase of about 12.6% [26]. - Taxes, other than income taxes, were $54.7 million in Q4 2025, compared to $48.7 million in Q4 2024, indicating a year-over-year increase of approximately 18.9% [26]. - Gross receipts tax expense for Q4 2025 was $29.9 million, up from $26.8 million in Q4 2024, reflecting an increase of about 11.6% [26]. Other Activities - Adjusted loss from other activities was $12.7 million, compared to a loss of $10.9 million in the prior year, primarily due to higher corporate costs and interest expense [11]. - The operating income from marketing operations in Q4 2025 was a loss of $3.9 million, an improvement from a loss of $2.7 million in Q4 2024, showing a reduction in losses [26].
BellRing Brands(BRBR) - 2026 Q1 - Quarterly Results
2026-02-03 12:04
Financial Performance - Net sales for the first quarter of fiscal year 2026 were $537.3 million, an increase of 0.8% year-over-year, driven by a 0.7% increase in volume and a 0.1% increase in price/mix [5]. - Premier Protein net sales decreased by 1.2%, with a 1.0% decrease in price/mix and a 0.2% decrease in volume, while Dymatize net sales increased by 15.8% due to strong volume growth, particularly in the international channel [6]. - Gross profit was $160.8 million, or 29.9% of net sales, a decrease from $199.6 million, or 37.5% of net sales, in the prior year period, impacted by significant input cost inflation [7]. - Adjusted EBITDA for the first quarter was $90.3 million, a decrease of $35.0 million compared to $125.3 million in the prior year period [12]. - Net earnings for the first quarter were $43.7 million, a decrease of $33.2 million compared to $76.9 million in the prior year period, with diluted earnings per share at $0.36 [11]. - Operating profit fell to $78.5 million in Q1 2025, compared to $115.3 million in Q1 2024, indicating a decline of 31.9% [26]. - Net earnings for the three months ended December 31, 2025, were $43.7 million, down from $76.9 million in the same period of 2024, a decrease of 43.3% [26]. - Adjusted net earnings for Q1 2025 were $44.7 million, compared to $76.2 million in Q1 2024, reflecting a decline of 41.6% [40]. - Diluted earnings per common share decreased to $0.36 in Q1 2025 from $0.59 in Q1 2024, a drop of 38.7% [42]. Outlook - The company has narrowed its fiscal year 2026 net sales outlook to $2.41-$2.46 billion, expecting a growth rate of 4% to 6% [15]. - Adjusted EBITDA outlook for fiscal year 2026 is set at $425-$440 million, approximately 18% of net sales [15]. Expenses and Costs - Selling, general and administrative expenses were $78.0 million, or 14.5% of net sales, a decrease from $80.1 million, or 15.0% of net sales, in the prior year period [8]. - Interest expense increased to $20.0 million in the first quarter of 2026 from $14.4 million in the prior year, primarily due to higher outstanding borrowings [10]. - Income tax expense decreased to $14.8 million in Q4 2025 from $24.0 million in Q4 2024 [44]. - Stock-based compensation decreased to $5.6 million in Q4 2025 from $6.3 million in Q4 2024 [44]. - Office relocation costs were $0.9 million in Q4 2025, with no such costs reported in Q4 2024 [44]. - Separation costs were $0.4 million in Q4 2025, with no such costs reported in Q4 2024 [44]. Assets and Liabilities - Total assets increased to $1,060.3 million as of December 31, 2025, up from $941.0 million as of September 30, 2025, representing a growth of 12.7% [28]. - Long-term debt rose to $1,184.6 million as of December 31, 2025, compared to $1,084.3 million as of September 30, 2025, an increase of 9.2% [28]. - Cash and cash equivalents decreased to $64.1 million as of December 31, 2025, down from $71.8 million as of September 30, 2025, a decline of 24.1% [28]. - The company reported a net decrease in cash, cash equivalents, and restricted cash of $12.1 million for the three months ended December 31, 2025, compared to a decrease of $21.5 million in the same period of 2024 [29]. Market Performance - Net sales for the three months ended December 31, 2025, were $537.3 million, a slight increase from $532.9 million in the same period of 2024, representing a growth of 0.8% [26]. - Gross profit decreased to $160.8 million in Q1 2025 from $199.6 million in Q1 2024, reflecting a gross profit margin of 29.9%, down from 37.5% [26][37]. - Net Earnings as a percentage of Net Sales decreased to 8.1% in Q4 2025 from 14.4% in Q4 2024 [44]. - Adjusted EBITDA as a percentage of Net Sales decreased to 16.8% in Q4 2025 from 23.5% in Q4 2024 [44]. - Interest expense increased to $20.0 million in Q4 2025 from $14.4 million in Q4 2024 [44]. - Mark-to-market adjustments on commodity hedges showed no impact in Q4 2025, compared to a loss of $1.5 million in Q4 2024 [44].
Galaxy Digital Inc-A(GLXY) - 2025 Q4 - Annual Results
2026-02-03 12:03
Financial Performance - Q4 2025 net loss of $482 million, diluted EPS of $(1.08), and adjusted EPS of $(1.08), primarily due to a 24% decrease in total crypto market capitalization[13] - Full year 2025 net loss of $241 million, diluted EPS of $(0.61), and adjusted EPS of $(0.61), impacted by lower digital asset prices and approximately $160 million in one-time costs[13] - Total revenues for the year ended December 31, 2025, were $60,406,728, a 42% increase from $42,596,673 in 2024[54] - Net loss for the year ended December 31, 2025, was $(241,349), compared to a net income of $346,722 in 2024[54] - Adjusted gross profit for the year ended December 31, 2025, was $426,134, down from $1,016,014 in 2024[60] - The adjusted income (loss) per share for the year ended December 31, 2025, was $(0.61), compared to $0.84 in 2024[71] - Basic net income per Class A common stock for Q4 2025 was $(1.04), down from $0.34 in Q4 2024[57] - Net income for the year ended December 31, 2025, was $(241,349) thousand, compared to $(434,137) thousand in the previous year[64] - Adjusted EBITDA for the year ended December 31, 2025, was $33,671 thousand, a significant improvement from $(215,813) thousand in 2024[64] Assets and Liabilities - Total assets as of Q4 2025 were $11,348 million, a 2% decrease from Q3 2025, while total equity was $3,035 million, down 4%[3] - Galaxy Digital Inc. reported total assets of $11.35 billion as of December 31, 2025, compared to $7.12 billion in 2024, reflecting a significant growth of approximately 59% year-over-year[51] - The company's current assets increased to $8.52 billion in 2025 from $5.88 billion in 2024, marking an increase of about 45%[51] - Total liabilities rose to $8.31 billion in 2025, up from $4.93 billion in 2024, indicating a 68% increase year-over-year[52] - Galaxy Digital's digital intangible assets, which include significant fair value measurements, increased to $3.53 billion in 2025 from $2.55 billion in 2024, representing a growth of approximately 38%[51] Operational Highlights - Digital Assets generated adjusted gross profit of $51 million in Q4 2025, down 84% from $318 million in Q3 2025[11] - Asset Management business saw $2.0 billion in net inflows, representing 34% organic growth, with total assets on platform ending the year at $12 billion[9] - Average loan book size increased marginally to $1.8 billion, demonstrating resilience despite lower digital asset prices[14] - Galaxy Digital's digital assets loan receivable increased to $1.07 billion in 2025 from $579.53 million in 2024, reflecting an increase of approximately 85%[51] - The company incurred a mining-related impairment loss of $95,056 thousand during the year ended December 31, 2025[64] Capital and Investments - The company raised $325 million in equity capital and $1.3 billion in exchangeable senior notes to fund growth initiatives[9] - Galaxy expanded its staking platform through five integrations with leading global custodians and acquired Alluvial Finance to enhance its staking capabilities[9] - Galaxy's Helios Data Center campus received ERCOT approval for an additional 830 MW of power capacity, bringing total approved capacity to over 1.6 gigawatts[22] - The company is positioned among the largest data center developers in North America with its 1.6 GW Helios campus in Texas, which supports AI and HPC workloads[35] Future Outlook - Galaxy Digital plans to host an Earnings AMA on February 10, 2026, to discuss financial results and forward-looking statements, indicating a commitment to transparency with investors[34] - The adjusted EBITDA for the fiscal year 2025 is expected to provide insights into operational performance, although specific figures were not disclosed in the preliminary information[41] - The company emphasizes the importance of adjusted gross profit and adjusted EPS as non-GAAP financial measures to provide a clearer picture of financial performance[41] Expenses - Operating expenses for the year ended December 31, 2025, totaled $61,593,507, up from $43,399,054 in 2024, reflecting a 42% increase[54] - Total operating expenses for Q4 2025 were $10,780,946, a 34% decrease from $16,222,765 in Q4 2024[57] - Settlement expenses for the year ended December 31, 2025, amounted to $8,933 thousand[64] - Depreciation and amortization expense for the year ended December 31, 2025, was $34,069 thousand[64] - The impairment of digital assets for the year ended December 31, 2025, was $753,701, compared to $331,920 in 2024[54] - Equity-based compensation and related expenses totaled $65,519 thousand for the year ended December 31, 2025[64]
J & J Snack Foods(JJSF) - 2026 Q1 - Quarterly Results
2026-02-03 12:01
Financial Performance - Net sales for the first quarter decreased by 5.2% year-over-year to $343.8 million, primarily due to a decline in the bakery business and strategic portfolio rationalization efforts [2][4]. - Gross profit increased to $96.0 million, with a gross margin improvement from 25.9% to 27.9%, reflecting early benefits from Project Apollo initiatives [5]. - Operating income was $0.6 million, a significant decline of 89.8% compared to the prior year quarter, while adjusted operating income was $8.0 million, down 2.4% year-over-year [2][7]. - Net earnings fell to $0.9 million, representing an 82.8% decrease from the previous year, with earnings per diluted share at $0.05, down from $0.26 [2][7]. - Adjusted EBITDA grew by 7.0% year-over-year to $27.0 million, indicating improved operational efficiency despite declining sales [2][3]. Segment Performance - The Food Service segment experienced an 8.3% decline in net sales, while the Retail Supermarket segment saw a 2.6% increase [4][10]. - The pretzel business continued to show growth, with sales increasing approximately 6.9%, driven by share gains from Bavarian formula pretzels [10]. Cost and Expenses - Selling and marketing expenses rose by 9.9% to $31.5 million, attributed to higher commissions and investments for the peak summer season [10]. - The company incurred a plant closure expense of $6,113 thousand during the three months ended December 27, 2025 [26]. Shareholder Actions - The company announced a new $50 million share repurchase authorization, reflecting confidence in long-term value and a strong balance sheet [3][12]. - Payments to repurchase common stock amounted to $42,000 thousand during the financing activities for the period [24]. Asset and Cash Management - Total assets decreased from $1,381,501 thousand as of September 27, 2025, to $1,313,274 thousand as of December 27, 2025, representing a decline of approximately 4.9% [22]. - Cash and cash equivalents decreased from $105,893 thousand at the beginning of the period to $66,761 thousand at the end, a decline of 37.0% [24]. - The company reported a decrease in accounts receivable, with a net reduction of $22,872 thousand for the three months ended December 27, 2025 [24]. Project Initiatives - The company is on track to achieve $20 million in annualized savings from its Project Apollo business transformation program [3].
Pfizer(PFE) - 2025 Q4 - Annual Results
2026-02-03 12:01
Exhibit 99 NEW YORK, Tuesday, February 3, 2026 — Pfizer Inc. (NYSE: PFE) reported financial results for fourth-quarter and full- year 2025 and reaffirmed its full-year 2026 financial guidance provided on December 16, 2025. (1) EXECUTIVE COMMENTARY Dr. Albert Bourla, Chairman and CEO of Pfizer: "With excellent execution in 2025, we delivered a solid financial performance and strengthened Pfizer's foundation for future growth. Looking ahead, 2026 will be an important year rich in key catalysts, including our ...
Eaton(ETN) - 2025 Q4 - Annual Results
2026-02-03 12:00
Financial Performance - Fourth quarter 2025 earnings per share reached a record $2.91, with adjusted earnings per share at $3.33, up 18% from 2024[2][8] - Sales for the fourth quarter were $7.1 billion, a record high, representing a 13% increase from the fourth quarter of 2024, driven by 9% organic growth[3][5] - Segment margins for the fourth quarter were 24.9%, a record and a 20-basis point improvement over the same period in 2024[4][8] - For the full year 2025, sales totaled $27.4 billion, up 10% from 2024, with 8% organic growth contributing to this increase[5][6] - The company reported operating cash flow of $2.0 billion and free cash flow of $1.6 billion for the fourth quarter, both records and up 23% and 17% respectively from 2024[4][7] - Total net sales for Q4 2025 reached $7,055 million, a 13.1% increase from $6,240 million in Q4 2024[25] - Net income attributable to Eaton ordinary shareholders for the year ended December 31, 2025, was $4,087 million, up 7.7% from $3,794 million in 2024[25] - Free cash flow for Q4 2025 was $1,573 million, compared to $1,342 million in Q4 2024, reflecting a 17.2% increase[29] - Eaton's operating cash flow for the year ended December 31, 2025, was $4,472 million, slightly up from $4,327 million in 2024[29] - Eaton's total assets increased to $41,251 million as of December 31, 2025, up from $38,381 million in 2024[26] Future Expectations - For 2026, the company expects earnings per share to be between $11.57 and $12.07, representing a 13% increase at the midpoint over 2025[8][10] - The company anticipates organic growth of 7-9% and segment margins of 24.6-25.0% for 2026[15] - The company expects adjusted earnings per ordinary share for 2026 to be between $13.00 and $13.50, reflecting strong future performance expectations[29] Segment Performance - The Electrical Americas segment achieved record sales of $3.5 billion in the fourth quarter, up 21% from the same period in 2024[10] - Aerospace segment sales reached a record $1.1 billion, up 14% from the fourth quarter of 2024, with operating margins of 24.1%[14] - Eaton's segment operating profit for Q4 2025 was $1,760 million, a 14.2% increase from $1,542 million in Q4 2024[25] Acquisitions and Strategic Moves - The acquisition of Fibrebond Corporation for $1.43 billion is expected to enhance Eaton's capabilities in modular power enclosures, with Fibrebond reporting sales of approximately $378 million for the twelve months ended February 28, 2025[32] - Eaton plans to acquire Boyd Thermal for $9.5 billion, which is expected to close in Q2 2026, enhancing its position in thermal components for data centers[36] - The company announced plans to spin off its Mobility business, which includes Vehicle and eMobility segments, by the end of Q1 2027[38] Restructuring and Charges - Eaton has incurred $335 million in charges since the inception of its multi-year restructuring program, which is expected to total $475 million by completion in 2026[42] - The restructuring program is anticipated to yield mature year benefits of $375 million once fully implemented[42] - For the three months ended December 31, 2024, total restructuring charges after income taxes amounted to $56 million, translating to $0.14 per diluted share[43] - The total restructuring charges for the year ended December 31, 2024, were $202 million, with a net amount after income taxes of $160 million[43] - The company expects additional expenses of $102 million related to workforce reductions and $38 million for plant closing and other costs as part of the restructuring program[42] Intangible Assets - The total intangible asset amortization expense for the twelve months ended December 31, 2025, was $486 million, with a net amount after income taxes of $384 million[44] - The intangible asset amortization expense for the three months ended December 31, 2025, was $121 million, compared to $107 million for the same period in 2024[44] - The income tax benefit related to intangible asset amortization for the twelve months ended December 31, 2025, was $101 million[44] - The Electrical Global segment incurred $24 million in restructuring charges for the three months ended December 31, 2025, while the Aerospace segment incurred $10 million[43] - The Vehicle segment reported a restructuring credit of $10 million for the three months ended December 31, 2025[43]
Hamilton Lane(HLNE) - 2026 Q3 - Quarterly Results
2026-02-03 12:00
Financial Performance - Hamilton Lane reported GAAP net income of $92.8 million for Q3 FY2026, with year-to-date net income of $273.5 million[20]. - Net income attributable to Hamilton Lane Incorporated for Q3 FY2026 was $58.4 million, a 10% increase from the same quarter last year[20]. - Net income for the nine months ended December 31, 2025, was $273.471 million, up from $240.463 million in the previous year[87]. - Adjusted net income increased by 24% to $84.5 million for the quarter and by 16% to $240.1 million year-to-date[28]. - Non-GAAP earnings per share for the three months ended December 31, 2025, was $1.55, up from $1.25 in 2024[89]. Revenue Growth - Total revenues for Q3 FY2026 reached $198.6 million, an 18% increase compared to the same quarter last year, with year-to-date revenues of $565.4 million, up 10%[21]. - Total fee-related revenues increased by 47% to $185.4 million for the quarter and by 31% to $507.0 million year-to-date[23]. - The company expects continued growth in revenues and net income for the upcoming fiscal year[22]. - The company anticipates continued growth in management fees and performance revenues, driven by strategic market expansions and new product offerings[102]. Expenses and Costs - Compensation and benefits expenses rose by 26% to $77.9 million for the quarter, and 15% to $224.5 million year-to-date[21]. - Total expenses increased by 22% to $92,539 from $112,583 year-over-year[22]. - Compensation and benefits for the three months ended December 31, 2025, were $77,944,000, reflecting a 26% increase from $61,905,000 in 2024[92]. Dividends - The company declared a quarterly dividend of $0.54 per share, representing a 10% increase from the prior fiscal year, targeting a full-year dividend of $2.16[3]. - The company declared a quarterly dividend of $0.54 per share of Class A common stock[29]. Assets Under Management - Hamilton Lane manages approximately $1.0 trillion in assets, with $146.1 billion in discretionary assets and $871.5 billion in non-discretionary assets as of December 31, 2025[6]. - Assets under management (AUM) reached $146 billion, an 8% increase year-over-year, while fee-earning assets under management (FEAUM) grew by 11% to $79 billion[30]. - Total assets under management (AUM) and fee-earning AUM are critical metrics for the company, reflecting its growth and market position[97]. Investment Performance - The company experienced a significant increase in net gain on investments, which rose by 539% to $19.7 million for the quarter[21]. - Interest income increased by 2,716% to $1.0 million for the quarter, reflecting strong performance in investment income[21]. - The company experienced a significant increase in incentive fees from Evergreen funds, which rose by 2,671% to $38.130 million for the three months ended December 31, 2025[81]. Financial Position - As of December 31, 2025, the company reported $280 million in debt, indicating modest leverage[73]. - Cash and cash equivalents increased to $338.504 million as of December 31, 2025, up from $229.161 million at the end of March 2025[85]. - The company reported a net cash provided by operating activities of $321.944 million for the nine months ended December 31, 2025[87]. - The company’s total assets increased to $2.171 billion as of December 31, 2025, compared to $1.690 billion at the end of March 2025[85]. Strategic Outlook - As of February 3, 2026, the company positions itself as a global leader in the private markets, highlighting its strategic market presence[105]. - The company emphasizes the importance of reviewing the "Risk Factors" detailed in the Annual Report on Form 10-K for the fiscal year ended March 31, 2025, and subsequent reports filed with the SEC[103]. - Values in the presentation are rounded approximations, indicating a focus on clarity in financial reporting[104].
Pentair(PNR) - 2025 Q4 - Annual Results
2026-02-03 11:52
Exhibit 99.1 News Release Pentair Reports Strong Fourth Quarter and Full Year 2025 Results Reconciliations of GAAP to Non-GAAP measures are in the attached financial tables. LONDON, United Kingdom — February 3, 2026 — Pentair plc (NYSE: PNR) today announced fourth quarter 2025 sales of $1,021 million. Sales were up 5 percent compared to sales for the same period last year. Excluding currency translation, acquisitions and divestitures, core sales grew 4 percent in the fourth quarter. Fourth quarter 2025 earn ...
PJT Partners (PJT) - 2025 Q4 - Annual Results
2026-02-03 11:50
Exhibit 99.1 PJT Partners Inc. Reports Record Full Year and Fourth Quarter 2025 Results Full Year Overview Media Relations: Jon Keehner Joele Frank, Wilkinson Brimmer Katcher Tel: +1 212.355.4449 PJT-JF@joelefrank.com Investor Relations: Sharon Pearson PJT Partners Inc. Tel: +1 212.364.7120 pearson@pjtpartners.com > Record Revenues, Pretax Income and EPS – Revenues of $1.71 billion, an increase of 15% from a year ago – GAAP Pretax Income of $343 million and Adjusted Pretax Income of $357 million, increases ...
Capri (CPRI) - 2026 Q3 - Quarterly Results
2026-02-03 11:48
Exhibit 99.1 Capri Holdings Limited Announces Third Quarter Fiscal 2026 Results Revenue and Earnings Per Share Exceed Expectations Reduced Net Debt to $80M at Quarter End London — February 3, 2026 — Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today announced its financial results for the third quarter of Fiscal 2026 ended December 27, 2025. Third Quarter Fiscal 2026 Highlights from Continuing Operations John D. Idol, the Company's Chairman and Chief Executive Officer, said, "We were p ...