Financial Data and Key Metrics Changes - Stantec reported net revenue of CAD 1.6 billion for Q2 2025, an increase of 6.9% year-over-year, driven primarily by 4.8% organic growth [7][13] - Adjusted EBITDA grew by 15% with a margin of 17.8%, reflecting a 120 basis point increase compared to the previous year [8][14] - Adjusted EPS increased over 21% to CAD 1.36 compared to Q2 2024 [14] Business Line Data and Key Metrics Changes - The Energy and Resources business experienced high single-digit organic growth, while the Water segment achieved 12.4% organic growth [7][10] - In the U.S., net revenue increased by 5.7%, supported by 4.4% organic growth, with strong demand in mission-critical, science and technology, and civic sectors [8][10] - Canadian net revenue grew by 6.2%, with over 30% organic growth in the Water segment driven by major wastewater projects [10][11] Market Data and Key Metrics Changes - Global business delivered net revenue growth of 10.5% in Q2, with 4.3% organic and 3.6% acquisition growth [10] - The U.S. organic backlog increased by 9.8% year-over-year, indicating strong demand in water, energy, and data centers [20][31] - The UK, Australia, and New Zealand saw double-digit organic growth in the water business due to public sector investments [11] Company Strategy and Development Direction - Stantec aims to increase net revenue growth guidance for 2025 to 10% to 12%, up from the previous 7% to 10% [23] - The company is focused on strong project execution and operational excellence, with plans to continue pursuing acquisitions [27] - Stantec's strategic plan targets a 17% to 18% adjusted EBITDA margin, expected to be achieved a year early [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about accelerating organic growth in the U.S. for the second half of the year, despite some caution in the private sector [30][56] - The company noted that macro trends such as aging infrastructure and energy security continue to drive demand [26][90] - Management highlighted the importance of recent funding programs and infrastructure investments as supportive of future growth [89] Other Important Information - Stantec's contract backlog stood at CAD 7.9 billion, reflecting approximately twelve months of work, with year-over-year growth of nearly 10% [19] - The company completed several acquisitions, including Page, which is expected to enhance its capabilities in key growth sectors [5][18] Q&A Session Summary Question: Insights on U.S. Customers' Sentiment - Management noted some initial caution among U.S. customers but expects organic growth to accelerate in the second half of the year, particularly in water and energy sectors [30][31] Question: Integration of Recent Acquisitions - Integration of Ryan Hanley and Cosgrove is progressing well, with Page's integration planned for completion by the end of the year [34] Question: Margin Guidance and Contributors - Adjusted EBITDA margin guidance was increased to 17% to 17.4%, driven by strong project margins and lower administrative costs [41][42] Question: Water Segment Growth Drivers - Continued strength in the water business is attributed to ongoing projects in water treatment and wastewater treatment, with significant demand expected to persist [48][49] Question: U.S. Market Long-term Outlook - Management remains optimistic about the U.S. market, citing ongoing infrastructure investments and the potential for accelerated growth in the coming years [54][58] Question: Impact of Slower Growth on Pricing - No significant pricing pressure has been observed despite slower growth, with management confident in maintaining project margins [120][122] Question: M&A Landscape Update - The M&A environment is becoming increasingly active, with expectations for more assets to come to market in the near future [98]

Core Insights - ESCO Technologies Inc. reported a 27% increase in Q3 sales to $296 million, while GAAP EPS from continuing operations decreased by 13% to $0.96. Adjusted EPS from continuing operations increased by 25% to $1.60 [1][4][5] - The company raised its FY 2025 adjusted EPS guidance to a range of $5.75 to $5.90, reflecting a growth of 21% to 24% [1][10][11] Financial Performance - Q3 2025 sales increased by $62.7 million (27%) compared to Q3 2024, with organic sales (excluding Maritime sales) increasing by $25.6 million (11%) [5][6] - Entered orders surged by 194% to $749 million, resulting in a book-to-bill ratio of 2.53x and a record backlog of $1.17 billion [1][5][7] - Net cash provided by operating activities from continuing operations was $88 million YTD, an increase of $25 million compared to the prior year [5] Segment Performance - Aerospace & Defense (A&D) segment sales increased by $49.1 million (56%) to $136.3 million, driven by a 200% increase in Navy sales [6][29] - Utility Solutions Group (USG) sales increased by $2.1 million (2%) to $92.4 million, with Doble's sales up by 1% and NRG sales up by 8% [12][29] - Test & Measurement segment sales increased by $11.6 million (21%) to $67.7 million, with EBIT and adjusted EBIT increasing to $10.7 million [12][29] Business Outlook - The company expects FY 2025 revenue from continuing operations to be in the range of $1.075 to $1.105 billion, reflecting a 17% to 20% increase over the prior year [10][11] - Q4 adjusted EPS from continuing operations is expected to be in the range of $2.04 to $2.19, representing a growth of 14% to 22% over Q4 2024 [13] Dividend Information - The next quarterly cash dividend of $0.08 per share is scheduled for payment on October 16, 2025, to stockholders of record on October 2, 2025 [14]

Core Insights - Cabot Corporation reported diluted earnings per share (EPS) of $1.86 and adjusted EPS of $1.90 for Q3 FY25, reflecting a slight decrease compared to the previous year [1][4][5] - The company experienced a decline in net sales to $923 million from $1,016 million year-over-year, with net income attributable to Cabot Corporation at $101 million, down from $109 million [3][4][5] - The company reaffirmed its adjusted EPS guidance for fiscal 2025 in the range of $7.15 to $7.50, indicating expectations of earnings growth despite a challenging macroeconomic environment [9] Financial Performance - For Q3 FY25, net sales were $923 million, a decrease of 9% from $1,016 million in Q3 FY24, while net income was $101 million compared to $109 million in the same quarter last year [3][4] - Adjusted EPS for Q3 FY25 was $1.90, down 1% from $1.92 in Q3 FY24, while diluted EPS decreased from $1.94 to $1.86 [4][5] - Operating cash flow was strong at $249 million, with $64 million returned to shareholders through dividends and share repurchases [3][7] Segment Results - The Reinforcement Materials segment reported EBIT of $128 million, down 6% year-over-year, while the Performance Chemicals segment saw a 4% increase in EBIT to $57 million [5][6] - Global volumes for Reinforcement Materials decreased by 8%, with significant declines in Asia Pacific (11%) and the Americas (9%), while Europe, the Middle East, and Africa saw a 4% increase [6][5] - Performance Chemicals experienced an 8% drop in volumes, attributed to lower customer demand due to tariff uncertainties and a weaker macroeconomic environment [6] Cash Flow and Balance Sheet - The company ended Q3 FY25 with a cash balance of $239 million and a net debt to EBITDA ratio of 1.3x, indicating strong balance sheet health [7] - Capital expenditures for the quarter were $61 million, reflecting ongoing investments in operational capabilities [7] Tax and Outlook - The effective tax rate for Q3 FY25 was 28%, with an expected operating tax rate for the fiscal year in the range of 27% to 29% [8] - The company anticipates lower volumes in the second half of FY25 due to ongoing tariff uncertainties but expects to remain within the middle to lower end of its adjusted EPS guidance range [9]

Church & Dwight (CHD) Q2 2025 Earnings Call August 01, 2025 10:00 AM ET Company ParticipantsRick Dierker - President, CEO & Board MemberLee Mcchesney - EVP & CFOAnna Lizzul - VP - Equity ResearchDara Mohsenian - Managing Director - US Beverage/Household Products SectorsBonnie Herzog - Managing Director Andrea Teixeira - Managing DirectorLauren Lieberman - Managing DirectorOlivia Tong - Managing DirectorFilippo Falorni - Director - Equity ResearchRobert Moskow - Managing Director Kevin Grundy - Managing Dire ...

Financial Performance - Adjusted EBITDA for Q2 2025 was $681 million, an increase of $23 million compared to Q2 2024[51] - Renewables SBU Adjusted EBITDA grew by 56% in Q2 2025[18] - Adjusted EPS increased by 34% from $0.38 in Q2 2024 to $0.51 in Q2 2025[53] - The company is reaffirming its 2025 Adjusted EBITDA guidance of $2650-$2850 million [70] - The company is reaffirming its Adjusted EPS guidance of $210-$226 [73] Strategic Highlights & Growth - The company is on track to add 32 GW of new projects in full year 2025, with 19 GW completed year-to-date and ~80% completion on the remaining 13 GW[18] - Since the Q1 call in May, 16 GW of new PPAs for renewables have been signed or awarded, all with data center customers[18] - The backlog of projects under signed PPAs is now 12 GW[18] - The company is on track to invest ~$14 billion across AES Indiana & AES Ohio in 2025[43] Market Position & Resilience - The company has a market-leading position in signed agreements with data center customers, totaling 86 GW[29] - The company expects the majority of capacity to be completed through 2029 has no exposure to potential changes in tax credit policy, with nearly all capacity safe harbored[21] - The company expects data center demand to grow at a 22% CAGR from 2023-2030[29]

Core Insights - The AES Corporation reported a net loss of $150 million for Q2 2025, a significant decrease from a net income of $153 million in Q2 2024, primarily due to higher day-one losses on sales-type leases and increased income tax expenses [3][6][10] - Adjusted EBITDA for Q2 2025 was $681 million, reflecting a 3.5% increase from $658 million in Q2 2024, driven by higher contributions from the Renewables Strategic Business Unit (SBU) [4][32] - The company reaffirmed its 2025 guidance for Adjusted EBITDA between $2,650 million and $2,850 million, with expected annualized growth of 5% to 7% through 2027 [8][9][10] Financial Highlights - Q2 2025 Adjusted EBITDA with Tax Attributes was $1,057 million, up from $849 million in Q2 2024, attributed to higher realized tax attributes and contributions from new projects [5][32] - The diluted earnings per share (EPS) from continuing operations was ($0.15) for Q2 2025, a decrease from $0.39 in Q2 2024 [6][36] - Adjusted EPS for Q2 2025 was $0.51, an increase of $0.13 compared to $0.38 in Q2 2024, mainly due to a lower adjusted tax rate and contributions from new renewables projects [7][10] Strategic Accomplishments - The company has a backlog of 12 GW of signed long-term Power Purchase Agreements (PPAs), with 5.2 GW currently under construction [2][11] - AES completed 1.9 GW of new projects year-to-date and is on track to add a total of 3.2 GW to its operating portfolio by the end of 2025 [11][12] - The company signed or was awarded new long-term PPAs for 1.6 GW of renewables, all with data center companies, since the first quarter of 2025 [11][12] Financial Position and Outlook - Total revenue for Q2 2025 was $2.855 billion, a decrease from $2.942 billion in Q2 2024, with non-regulated revenue at $1.922 billion and regulated revenue at $933 million [24] - The company’s total assets increased to $48.542 billion as of June 30, 2025, compared to $47.406 billion at the end of 2024 [25] - The company expects to maintain its quarterly dividend payment of $0.17595 going forward [13]

Adjusted EPS - For the three months ended June 30, 2025, net income attributable to common stockholders was $122.9 million, or $0.86 diluted EPS, compared to $118.2 million, or $0.81 diluted EPS in 2024[7] - Adjusted EPS for the three months ended June 30, 2025, was $0.88, compared to $0.79 in 2024[7] - For the six months ended June 30, 2025, net income attributable to common stockholders was $265.7 million, or $1.84 diluted EPS, compared to $249.5 million, or $1.69 diluted EPS in 2024[7] - Adjusted EPS for the six months ended June 30, 2025, was $1.84, compared to $1.68 in 2024[7] Adjusted Cash Flow from Operations & Free Cash Flow - Net cash provided by operating activities for the three months ended June 30, 2025, was $166.5 million, compared to $196.9 million in 2024[8] - Adjusted cash flow from operations for the three months ended June 30, 2025, was $168.3 million, compared to $219.9 million in 2024[8] - Free cash flow for the three months ended June 30, 2025, was $99.4 million, compared to $137.5 million in 2024[8] - Net cash provided by operating activities for the six months ended June 30, 2025, was $477.6 million, compared to $417.0 million in 2024[8] - Adjusted cash flow from operations for the six months ended June 30, 2025, was $484.2 million, compared to $440.0 million in 2024[8] - Free cash flow for the six months ended June 30, 2025, was $348.5 million, compared to $287.6 million in 2024[8]

Core Insights - Pilgrim's Pride Corporation reported strong financial results for the second quarter of 2025, with net sales reaching $4.76 billion, a 4.3% increase year-over-year [3][5] - The company achieved a GAAP EPS of $1.49, reflecting an 8.8% increase compared to the previous year, and an adjusted EPS of $1.70 [5][19] - Operating income rose by 16.2% to $512.3 million, while adjusted EBITDA increased by 4.7% to $686.9 million, maintaining a margin of 14.4% [3][5] Financial Performance - Net sales for the first half of 2025 totaled $9.22 billion, up 3.4% from $8.92 billion in the same period last year [3] - The U.S. Fresh portfolio saw significant growth, benefiting from high commodity values and operational improvements [5][4] - Adjusted EBITDA for the first half of 2025 was $1.22 billion, a year-over-year increase of 18.7% [3][5] Market Dynamics - Demand from key customers outpaced category growth, with prepared offerings expanding significantly [4][5] - The U.S. Prepared Foods segment reported over 20% growth in net sales compared to the previous year, driven by record production levels [5][6] - Pilgrim's Europe experienced margin expansion through sales growth and cost efficiencies, with sales to key customers increasing over 5% year-over-year [6][7] Strategic Initiatives - The company announced plans to build a new prepared foods plant in Georgia, expected to increase U.S. Prepared Foods sales by over 40% and create over 630 jobs [5][8] - Pilgrim's continues to diversify its product offerings, with Just Bare chicken brand achieving over 10% market share in the fully cooked chicken category [5][6] - The company maintains a strong liquidity position with a net leverage ratio of less than 1.0 times adjusted EBITDA [5][6] Shareholder Returns - The Board of Directors approved a special dividend of approximately $500 million, equating to $2.10 per share [5][6] - The company emphasizes its commitment to delivering value to shareholders through growth and innovation in its product lines [6][9]

Financial Performance - Net sales reached $884 million[14], with a core sales decline of 0.6% year-over-year[15] - Adjusted EBITDA was $199 million[16], representing a 22.5% adjusted EBITDA margin[17] - Adjusted earnings per share (EPS) grew by 8.3% year-over-year to $0.39[18] - Gross margin stood at 40.8%, marking the fifth consecutive quarter above 40%[20] Segment Performance - Power Transmission net sales were $550 million[27], with core sales growth of 0.6% year-over-year and an adjusted EBITDA margin of 22.3%[23], a decrease of 50 bps year-over-year[23] - Fluid Power net sales were $334 million[25], with a core sales decline of 2.5% year-over-year and an adjusted EBITDA margin of 22.9%[25], an increase of 10 bps year-over-year[28] Regional Performance - Greater China experienced core revenue growth of 0.6%[30], while East Asia & India grew by 4.4%[30] - North America and EMEA both saw core revenue declines of 1.3%[30], and South America declined by 2.9%[30] Capital Efficiency and Cash Flow - Free cash flow was $74 million[39], showing an 11% year-over-year improvement[42] - Net leverage improved to 2.2x[41] - LTM free cash flow conversion increased to 79.9%[92] Guidance - The company raised its adjusted EBITDA midpoint by $15 million and adjusted EPS by $0.04[12] - Core revenue growth outlook is maintained at 0.5% to 2.5%[43] - Adjusted EBITDA is projected between $765 million and $795 million[43] - Adjusted EPS is expected to be in the range of $1.44 to $1.52[43]

Materion Corporation 2Q 2025 Earnings Presentation July 30, 2025 © 2025 Materion Corporation | Agenda | | | --- | --- | | Introduction | Kyle Kelleher – Director, Investor Relations and Corporate FP&A | | Opening Remarks & Business Update | Jugal Vijayvargiya – President and Chief Executive Officer | | Financial Review | Shelly Chadwick – Vice President and Chief Financial Officer | | Q&A | Question and Answer Session | 2 © 2025 Materion Corporation Forward-looking Statements and Non-GAAP Financial Informat ...