Accessibility StatementSkip Navigation MILWAUKEE, Sept. 30, 2025 /PRNewswire/ --Â MGIC Investment Corporation (NYSE: MTG) has announced plans to release its third quarter 2025 financial results after the market closes on Wednesday, October 29, 2025. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time on Thursday, October 30, 2025, to discuss the Company's results for the quarter ended September 30, 2025. Individuals interested in joining by telephone should register for the call "here" ...

Funding Closed and Farmout Agreement September 2025 CFO David M. Smith General Counsel Eon Resources Inc. NYSE-AM:EONR https://www.EON-R.com/ NYSEAM:EONR NYSEAM:EONR Presenters Dante V. Caravaggio CEO Mitchell B. Trotter Jesse J. Allen VP of Operations 2 NYSEAM:EONR Company Overview Leasehold Acres ~ 20,000 acres (two fields) Grayburg-Jackson Oil Field (Eddy County) & South Justis Field (Lea County) Fields Wells (Producing + Injection) ~ 750 wells across both fields Current Oil Production Over 1,000 barrels ...

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Financial Data and Key Metrics Changes - The company reported a strong second quarter in 2025, driven by the incretin teams on Mounjaro and Zepbound, particularly in the U.S. and internationally [2] - The U.S. opportunity in type 2 diabetes is significant, with a reported HbA1c reduction of 1.8 and weight loss of 10.5 in the obese population with type 2 diabetes [6][7] - The company anticipates a gradual growth in the second half of the year, contrasting with the strong performance in Q2 [16] Business Line Data and Key Metrics Changes - The composition of the U.S. business is shifting, with 25% of incretin performance coming from type 2 diabetes and 75% from chronic weight management [10] - The company launched Mounjaro in Brazil, Mexico, India, and China, with a significant portion of Q2 sales attributed to chronic weight management [15] - The company expects to see a gradual growth in the second half of the year due to fewer major launches compared to Q2 [16] Market Data and Key Metrics Changes - The U.S. market for oral type 2 diabetes medications is substantial, with approximately 4 million patients on orals each month [6] - The company noted that the majority of its business outside the U.S. is cash-based, with limited reimbursement for chronic weight management [10] - The company is negotiating for type 2 diabetes reimbursement in several international markets, which is expected to take time [10] Company Strategy and Development Direction - The company is focused on launching a rich pipeline of products over the remaining part of the decade, with several launches planned for the second half of the year [2] - The management emphasized the importance of outcome data to gain access and reimbursement for chronic weight management, both in the U.S. and internationally [14] - The company is optimistic about the future of its oncology and neuroscience portfolios, with several promising assets in development [41][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the guidance for 2025, citing a lack of supply constraints that affected previous years [26] - The company is optimistic about the potential for growth in the U.S. diabetes market and is working to improve employer opt-in rates for chronic weight management [27][28] - Management acknowledged the challenges of gaining reimbursement for chronic weight management outside the U.S. but remains committed to differentiating its products [36] Other Important Information - The company is facing legal challenges related to compounding lawsuits but is actively pursuing various strategies to address these issues [45] - The impact of the Inflation Reduction Act (IRA) on the company's business is still uncertain, with management anticipating some effects on Medicare and Medicaid [47] Q&A Session Summary Question: How is the product profile of Orforglipron fitting in the marketplace? - Management indicated that Orforglipron has a strong safety and tolerability profile, with appealing data for both HbA1c reduction and weight loss [3][4] Question: What are the expectations for the U.S. market penetration with R4? - Management believes R4 will be a global player, with significant opportunities in the U.S. market for type 2 diabetes [6][12] Question: How does the company view the impact of the CVS change on Zepbound? - Management noted that the CVS change affected approximately 200,000 patients, but they have seen a return to strong growth in market share for Zepbound [22][23] Question: What is the outlook for the company's guidance compared to last year? - Management stated that the guidance process remains consistent, with more certainty in 2025 compared to the unpredictable conditions of 2024 [25][26] Question: How is the company addressing the access situation for 2026? - Management reported that they have made progress in employer opt-in rates and are in discussions for broader coverage in Medicare [27][28] Question: What is the competitive landscape in international markets? - Management acknowledged increased competition but emphasized their differentiation strategy and premium pricing for Mounjaro [33][36] Question: What are the exciting opportunities in the non-incretin side of the business? - Management highlighted the oncology franchise as particularly promising, with several assets in development that could drive future growth [41][42]

Financial Data and Key Metrics Changes - Q3 consolidated revenues increased by 5.7% year over year, reaching $1,060 million, with organic growth of 2% [7][26] - Non-GAAP earnings per share (EPS) grew by 15% to $1.1, with free cash flow reported at $165 million [7][28] - Gross margin improved by 70 basis points to 67.3%, driven by efficiency gains and favorable foreign exchange [26] Business Line Data and Key Metrics Changes - CooperVision reported revenues of $718 million, reflecting a 6.3% increase and 2.4% organic growth, although results were below expectations due to declines in Clarity and e-commerce weakness in Asia Pacific [8][10] - CooperSurgical posted revenues of $342 million, up 4.5% or 2% organically, with fertility revenues growing 6% [20][21] Market Data and Key Metrics Changes - EMEA region grew by 14% or 6% organically, becoming CooperVision's largest revenue region globally [10] - The Americas grew by 2% or 3% organically, while Asia Pacific saw a 1% increase but a 5% organic decline [10] Company Strategy and Development Direction - The company aims to leverage the strong momentum of MyDay and upcoming product launches to outpace the contact lens market and gain market share [24] - Focus on operational excellence and disciplined cost management to support sustainable revenue growth [7][30] Management's Comments on Operating Environment and Future Outlook - Management acknowledged headwinds from Clarity and e-commerce challenges in Asia Pacific but expressed confidence in the long-term outlook for both CooperVision and CooperSurgical [20][24] - The company expects to generate approximately $2 billion in free cash flow over the next three fiscal years, with a focus on debt reduction and share repurchases [30][31] Other Important Information - The company is implementing mitigation strategies for tariffs, expecting a $24 million lower impact than previously anticipated [30] - Significant progress has been made in IT upgrades and organizational efficiency initiatives [30][71] Q&A Session Summary Question: How does the core CVI portfolio compare to the market for fiscal 2026? - Management indicated that the core portfolio is expected to be at least in line with the market, with additional growth from MiSight [37][38] Question: Why is MyDay's success impacting Clarity? - Management noted that in some markets, Clarity and MyDay were viewed similarly, leading to a shift in customer preference towards MyDay [41][42] Question: What is the outlook for the contact lens market? - Management acknowledged a slowdown in market growth but remains optimistic about future performance driven by silicone hydrogel lenses and multifocal products [19][50] Question: What are the expectations for the fertility market? - Management expects a rebound in the fertility market as clinics begin investing again, despite near-term pressures [20][110] Question: What is the situation with PARAGARD? - Management reported declining volumes for PARAGARD but offsetting revenue through pricing strategies [114][116]

Financial Data and Key Metrics Changes - Consolidated net sales for Q3 were $2 billion, with adjusted EBITDA at $397 million, reflecting a 2% increase in sales driven by avian influenza pricing and volume growth in cold chain businesses, partially offset by lower pet food and cereal volumes [17][19] - Adjusted EBITDA guidance for the fiscal year was increased to a range of $1.5 billion to $1.52 billion, suggesting Q4 will be approximately flat to Q3 [22] Business Line Data and Key Metrics Changes - Post Consumer Brands (PCB) net sales decreased by 9%, with cereal volumes down 6% and pet volumes down 13% [17][18] - Foodservice net sales increased by 19%, with volumes up 7%, driven by avian influenza pricing and improved customer foot traffic [19] - Refrigerated Retail net sales increased by 9%, with volumes up 1%, benefiting from the timing of Easter [20] Market Data and Key Metrics Changes - Cereal category volumes were down 4.1% year over year, with the branded portfolio declining by 4.9% [12] - Pet volume consumption decreased by 3.7% year over year, while the category remained flat [12] - Weetabix saw a 2.4% increase in consumption volumes, contrasting with a 1.8% decline in the category [14] Company Strategy and Development Direction - The company is focusing on cost optimization and targeted investments to drive volume growth despite a challenging macro environment [15] - The acquisition of Eighth Avenue is expected to create synergies within nut butter and granola, with integration planned for FY 2026 [7] - The company remains open to M&A opportunities while balancing share buybacks, having repurchased 8% of the company fiscal year to date [8][43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall state of the portfolio, despite challenges from tariffs and regulatory changes [9] - The foodservice business is expected to normalize by the end of Q4, with a projected adjusted EBITDA run rate of approximately $115 million [14] - Management acknowledged the need for a longer recovery timeline for the Nutrish brand due to larger-than-anticipated volume challenges [12] Other Important Information - The company is experiencing a transition in its pet portfolio, with plans to address consumption trends and optimize costs [11] - A severance charge of $5 million was taken to align the workforce with a smaller cereal footprint [19] Q&A Session Summary Question: Insights on fiscal 2026 guidance - Management indicated that they are still in the planning process for fiscal 2026 and acknowledged various factors that could impact performance, including foodservice normalization and contributions from Eighth Avenue [25][28] Question: Cereal category performance - Management noted that private label underperformance in the cereal category is somewhat of a mystery, possibly due to pricing dynamics [29][30] Question: Foodservice pricing recovery - Management clarified that pricing increases in foodservice were driven by recovering costs from Q2 and elevated egg markets [34][35] Question: M&A appetite and market challenges - Management expressed a cautious but open-minded approach to M&A opportunities, noting current market uncertainties and low multiples [41][44] Question: Eighth Avenue acquisition impact - Management confirmed no material changes to the expected contribution from Eighth Avenue for the fiscal year and indicated a path to improvement for next year [68] Question: Portfolio adjustments in Pet - Management highlighted opportunities for portfolio changes but emphasized the need to stabilize the Nutrish brand before making significant adjustments [78] Question: Input costs and product reformulations - Management plans to take a pragmatic approach to product reformulations and innovation in response to regulatory changes [61][63]

Financial Performance - Q3 FY25 - Sales increased by $62.7 million, a 26.9% increase, reaching $296.3 million compared to $233.6 million in Q3'24[13] - Adjusted EBIT increased by $17.5 million, a 38.6% increase, reaching $62.7 million compared to $45.2 million in Q3'24[13] - Adjusted EPS increased by 25%, reaching $1.60 compared to $1.28 in Q3'24[12] - Record ending backlog of $1.17 billion, a 75% increase from September 30, 2024[14] Segment Performance - A&D - Entered Orders increased by $492.3 million, a 546.5% increase, reaching $582.4 million compared to $90.1 million in Q3'24[19] - Sales increased by $49.1 million, a 56.3% increase, reaching $136.3 million compared to $87.2 million in Q3'24[19] - Adjusted EBIT increased by $19.1 million, a 94.3% increase, reaching $39.3 million compared to $20.2 million in Q3'24[19] Segment Performance - USG - Entered Orders increased by $5.5 million, a 5.5% increase, reaching $105.5 million compared to $100.0 million in Q3'24[25] - Sales increased by $2.1 million, a 2.3% increase, reaching $92.4 million compared to $90.3 million in Q3'24[25] - Adjusted EBIT decreased by $0.4 million, a -2.0% decrease, reaching $21.8 million compared to $22.2 million in Q3'24[25] Segment Performance - Test - Sales increased by $11.6 million, a 20.7% increase, reaching $67.7 million compared to $56.1 million in Q3'24[30] - Adjusted EBIT increased by $1.4 million, a 15.4% increase, reaching $10.7 million compared to $9.3 million in Q3'24[30] - Entered Orders decreased by $3.6 million, a -5.7% decrease, reaching $61.2 million compared to $64.8 million in Q3'24[30] Financial Performance - YTD Q3 FY25 - Sales increased by $97.1 million, a 15.0% increase, reaching $742.7 million compared to $645.6 million in Q3 YTD '24[38] - Adjusted EBIT increased by $30.7 million, a 28.6% increase, reaching $138.0 million compared to $107.3 million in Q3 YTD '24[38] - Adjusted EPS increased by 24.1%, reaching $3.71 compared to $2.99 in Q3 YTD '24[38] FY25 Guidance - Full year revenue from Continuing Operations is expected to be $1.075 billion - $1.105 billion[52] - Full Year Adjusted EPS from Continuing Operations is now expected to be in the range of $5.75 - $5.90, a 21% - 24% growth over FY'24[52] - Q4 Adjusted EPS from Continuing Operations is expected to be in the range of $2.04 - $2.19, a 14% - 22% growth over Q4'24[51]

Financial Performance & Unit Repurchase - NGL Total EBITDA by segment is $155.33 million[2] - Water Solutions segment accounts for 92% of NGL's total EBITDA, equivalent to $142.87 million[2] - Crude Oil Logistics segment accounts for 6% of NGL's total EBITDA, equivalent to $9.583 million[2,32] - Liquids Logistics segment accounts for 2% of NGL's total EBITDA, equivalent to $2.87 million[2,32] - NGL repurchased 70,000 Class D preferred units during Q1 2025, representing approximately 12% of the outstanding units[3] Water Solutions Business - NGL Water Solutions has transformed into the largest integrated water disposal system in the Delaware Basin[4] - NGL owns and operates over 800 miles of large diameter produced water pipelines in the Northern Delaware Basin[7,29] - NGL's Delaware Basin water disposal facilities have a permitted capacity of approximately 5,100,000 barrels per day[7] - In FY2025, NGL sold 42.4 million barrels of recycled water[29] - Approximately 90% of produced and flowback water was received via pipeline during FY2025[29] Market Data - Market Capitalization is $1.39 billion[36] - Enterprise Value is $4.31 billion[36]

Financial Data and Key Metrics Changes - For Q2 2025, the company generated GAAP net investment income of $0.34 per share and core net investment income of $0.35 per share, which excludes estimated excise taxes [6] - Net asset value per share decreased by $0.04 during the quarter due to a reduction in spillover income [6] - The investment portfolio at fair value was $985.9 million, slightly down from $991 million in Q1 2025 [7] Business Line Data and Key Metrics Changes - The company invested $15.4 million in three new portfolio companies during the quarter and had $7.4 million in other investment activity at par [7] - Two full repayments totaled $21.7 million, with an additional $10.4 million of other repayments, all at par [7] - 98% of loans were secured, and 91% were priced at floating rates [8] Market Data and Key Metrics Changes - The company ended the quarter with loans to five portfolio companies on nonaccrual, comprising 6.8% of total cost and 3.8% of fair value, representing a decrease from the prior quarter [9] - The average loan per company was $9.2 million, with the largest overall investment at $21.2 million [8] Company Strategy and Development Direction - The company expects to see more equity realizations in the second half of the year, estimating $12 million in proceeds and approximately $10 million in gains [11] - The company plans to continue funding qualifying portfolio company investments through new leverage under the SBIC III license [9] Management's Comments on Operating Environment and Future Outlook - Management noted a meaningful pickup in investment activity and M&A activity, indicating a busy second half of the year [10] - The company anticipates being able to grow the portfolio despite expected repayments, with a robust pipeline of opportunities [30][41] Other Important Information - The company has paid $306 million in dividends since its IPO, representing $17.35 per share to an investor in the IPO [6] - The company has received a green light letter from the Small Business Administration for SBIC III, which is an important step in the process [9] Q&A Session Summary Question: How much spillover is there left over and what's the strategy in terms of increasing leverage to cover the dividend? - The company has just under $45 million of spillover to work off through the dividend, expecting it to be about $38 million next year [17] - Current leverage is about 0.9 on a regulatory test and total leverage for GAAP is about 1.7 times, with a target leverage of about one to one [19] Question: How is the pipeline looking for the remainder of the year and where are the opportunities? - The company has seen a significant increase in M&A activity and expects to continue growing the portfolio with a robust pipeline of actionable opportunities [28][30] Question: Any insight into potential resolutions or progress with the current non-accrual list? - The company is working through the non-accruals, all backed by private equity firms, and had no new non-accruals this quarter [31] Question: What is the level of confidence on realizing potential equity realizations this year? - The company has a high likelihood of realizing the forecasted equity realizations as the businesses are actively marketed and well-performing [36] Question: How much of the portfolio rated three or lower is the company seriously nervous about? - The company expects to receive all principal and associated income from the portfolio rated three or lower, indicating a positive outlook [39]

Financial Data and Key Metrics Changes - Adjusted net operating income for Q2 2025 was $180 million, reflecting a 6% year-over-year increase, while diluted adjusted operating EPS rose 10% to $5.46 [5] - Total capital returned to stockholders during the quarter was $163 million, comprising $129 million in share repurchases and $34 million in regular dividends [5] - The company ended the quarter with $371 million in cash and invested assets, with an estimated RBC ratio of 490% [20][56] Business Line Data and Key Metrics Changes - Term Life segment revenues for Q2 2025 were $442 million, up 3% year-over-year, driven by a 5% growth in adjusted direct premiums [13] - ISP segment sales increased 15% to $3.5 billion, with net inflows of $487 million compared to $227 million in the prior year [8] - The mortgage business saw closed loan volume of $133 million in the U.S., up 33% year-over-year, and $45 million in Canada, up 30% [11] Market Data and Key Metrics Changes - The number of new term life insurance policies issued declined by 19% year-over-year, with a total face amount in force reaching a record $968 billion [7] - Client asset values in the ISP segment ended the quarter at $120 billion, up 14% year-over-year [8] - The company recruited over 80,000 individuals in Q2, with 13,000 new representatives licensed, a 10% decrease from the previous year [5][6] Company Strategy and Development Direction - The company aims to grow its sales force by 23% in 2025, emphasizing the importance of recruiting during economic uncertainty [6] - The complementary nature of ISP and Term Life products is highlighted, with ISP sales helping to offset headwinds in life sales [12] - The company is committed to investing in technology and infrastructure to support growth in the ISP segment [18] Management's Comments on Operating Environment and Future Outlook - Management noted that cost of living pressures and economic uncertainty have led to a "wait and see" attitude among middle-income families, impacting term life sales [25][29] - There is confidence that middle-income families will adapt to economic conditions over time, and the company expects a normalization of persistency rates [14][46] - The company anticipates continued strong demand for retirement savings products, driven by demographic trends [9][62] Other Important Information - The company corrected its methodology for calculating outflows and market value for Canadian mutual fund assets, which had no impact on financial statements [9] - The net unrealized loss in the investment portfolio improved, ending the quarter with a loss of $158 million, attributed to interest rates rather than credit concerns [19] Q&A Session Summary Question: Decline in term life sales and cost of living impact - Management indicated that the decline in term life sales is due to cost of living pressures and uncertainty, leading to a wait-and-see attitude among families [25][29] Question: Recruitment opportunities amid economic pressures - Management confirmed that financial stress can create opportunities for recruiting new agents, as individuals seek additional income [31] Question: Favorable mortality trends - Management noted that favorable mortality trends have been observed for over ten quarters, with potential adjustments to long-term assumptions being considered [36] Question: ISP sales growth expectations - Management expects ISP sales growth to moderate but remain strong, with continued strength observed in July [44] Question: Capital deployment and RBC ratio - Management explained that the RBC ratio is influenced by regulatory restrictions and the desire to maintain a strong capital position to support growth [56] Question: Dynamics in different product areas - Management discussed the mix shift in product sales, noting that variable annuities are gaining traction due to market conditions [62] Question: Trends in mortgage business - Management expressed optimism about the mortgage business, particularly if interest rates decline, which could lead to refinancing opportunities [67] Question: Expense results in Q2 - Management indicated that Q2 expenses were influenced by timing and technology investments, with a full-year guidance of a 6% to 8% increase [74] Question: Efforts to grow ISP sales force - Management highlighted ongoing efforts to grow the ISP sales force and increase diversity in sales across product lines [78]