Inclusion Comes Shortly After Completion of U.S. IPO WASHINGTON, March 24, 2026 (GLOBE NEWSWIRE) -- Public Policy Holding Company, Inc. (“PPHC” or “the Company”) (Nasdaq: PPHC) (AIM: PPHC.L), a leading global provider of strategic communications services, today announced that, as of March 23, 2026, PPHC has been added to the Russell 2000® Index and the Russell 3000® Index as part of FTSE Russell’s quarterly additions process for newly listed companies. PPHC’s addition to the Russell indexes follows the Comp ...

Company Overview - Cardinal Infrastructure Group, Inc. (NASDAQ: CDNL) is recognized as one of the Southeast's fastest-growing, full-service infrastructure service providers, delivering integrated civil and site development solutions across high growth markets [4] - The company operates through a self-performing model supported by skilled labor, specialized fleets, and market-leading subsidiaries, enabling efficient project execution while focusing on long-term client relationships [4] Index Inclusion - Cardinal Infrastructure Group will be added to the Russell 2000® and Russell 3000® Indexes, effective March 23, 2026, as part of FTSE Russell's first quarter Initial Public Offering (IPO) addition [1][2] - The inclusion in these indexes is seen as a significant milestone for the company, enhancing its visibility within the institutional investor community and expanding its reach to a broader set of investors [2] Market Impact - Russell indexes are widely utilized by investment managers and institutional investors for index funds and as benchmarks for active investment strategies, indicating that Cardinal's inclusion may lead to increased investment interest [2] - Approximately $18.1 trillion is benchmarked to FTSE Russell indexes, highlighting the substantial market influence and potential for Cardinal to attract institutional investment [5]

Must read - this is free and not me.https://t.co/639iFHMiAYThis is the most SHAMELESS structural manipulation of a major index I've ever seen.SpaceX is preparing what could be the largest IPO in history.Target valuation: $1.75 trillion.That would make it the sixth-largest company in America on day one.And Nasdaq wants the listing so badly they're literally CHANGING how the Nasdaq-100 works.In February, Nasdaq published a "consultation" proposing sweeping changes to how companies enter the index. The timing ...

Core Viewpoint - The impending SpaceX IPO, valued at over $1.75 trillion, could significantly impact the Nasdaq-100 index and related ETFs, prompting investors to consider selling their QQQ holdings before the IPO due to potential volatility and structural risks [1]. Group 1: SpaceX IPO and Nasdaq-100 Impact - SpaceX is preparing for a historic IPO that could rank it among the top U.S. companies, with Nasdaq considering a "Fast Entry" provision for its inclusion in the Nasdaq-100 index after just 15 trading days [1]. - The proposed changes to Nasdaq's inclusion rules could force passive funds to buy billions in shares almost overnight, regardless of market conditions, leading to potential volatility in QQQ and similar ETFs [1]. - The introduction of a 5x float multiplier for stocks with limited public float could artificially inflate SpaceX's weighting in the index, creating a scenario where passive funds treat a small float as a much larger market cap [1]. Group 2: Risks of Passive Investment Strategies - The potential for insider selling after lock-up periods could lead to significant declines in stock prices, as insiders may sell into an inflated market created by passive buying [1]. - The structural changes in Nasdaq's rules could set a precedent for other high-valuation tech IPOs, amplifying the risks associated with low-float structures and passive investment dynamics [1]. - Investors are advised to consider trimming or selling their QQQ exposure ahead of the SpaceX listing to mitigate the risks of a downturn that could adversely affect retirement portfolios [1].

Financial Data and Key Metrics Changes - Adjusted EBITDA for 2025 was $395 million, exceeding guidance and reflecting strong operating results [4][16] - Q4 revenue reached $2.4 billion, a 9.2% increase year-over-year, while full-year revenue increased by 8.2% to $9.2 billion [13][14] - Net income for Q4 improved to $6 million from a loss of $31.6 million in the prior year, but full-year net income decreased to $82 million from $143 million due to non-operational items [14][15] Business Line Data and Key Metrics Changes - Fresh Fruit segment delivered EBITDA of $189 million for the full year, despite challenges from higher sourcing costs and weather-related disruptions [9] - Diversified EMEA segment achieved an Adjusted EBITDA of $150 million, a 14% increase year-on-year, driven by strong performance in Spain and the Nordics [10] - Diversified Americas segment saw a 21% increase in full-year Adjusted EBITDA, supported by strong revenue growth and margin expansion [11][18] Market Data and Key Metrics Changes - The banana demand remained robust in North America and Europe, while the pineapple innovation, particularly the Dole Colada Royale, contributed positively to the market [9][10] - The EMEA segment benefited from favorable foreign exchange impacts and strong operational performance in key markets [17] Company Strategy and Development Direction - The company successfully exited the Fresh Vegetables business, allowing for a more focused capital allocation strategy [5] - A $100 million share repurchase program was approved to enhance capital allocation flexibility [6] - The company aims to target Adjusted EBITDA of at least $400 million for 2026, focusing on cost control and operational efficiencies [24][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by elevated sourcing costs and weather-related disruptions but expressed optimism for improved profitability in 2026 [9][31] - The company is focused on executing its development pipeline while maintaining a disciplined approach to capital allocation [24] Other Important Information - The company completed a $1.2 billion renewal of credit facilities, enhancing financial capacity for future growth initiatives [5] - The transition to full U.S. domestic issuer filings is expected to improve eligibility for inclusion in broader U.S. equity indices [7] Q&A Session Summary Question: Could you elaborate on the major factors in your 2026 outlook? - Management highlighted the complexity of supply dynamics and the hope for improved production from Honduran farms, while acknowledging ongoing challenges with sourcing costs [26][28] Question: What is the expected cash flow conversion relative to EBITDA? - Management indicated a target for free cash flow conversion of 30%-35% over the long term, with expectations for normalized cash generation in 2026 [32][34] Question: Can you discuss the impact of the Ecuador port asset sale on cost structure? - Management stated that the sale would be neutral from a cost perspective, with a usage agreement in place to maintain cost levels [42][43]

Financial Data and Key Metrics Changes - In Q4 2025, revenues grew by 7.3% driven by better-than-expected contributions from pricing, volume, and M&A despite headwinds from foreign exchange [13] - Adjusted EBITDA for the full year reached $1.985 billion, with a margin of 30% for the first time in company history, reflecting a 130 basis point increase over 2024 [7][9] - Adjusted Free Cash Flow for Q4 was $425 million, totaling $756 million for 2025, ahead of plan due to EBITDA outperformance [16] Business Line Data and Key Metrics Changes - Q4 pricing increased by 6.4% for the quarter and 6.1% for the year, exceeding original plans [13] - Adjusted EBITDA margins in the Canadian segment increased by 175 basis points, while U.S. margins were up materially when excluding prior year hurricane volumes [15] - C&D-related volume remained soft, but the company is positioned for recovery when the economy improves [14] Market Data and Key Metrics Changes - Q4 volumes were 70 basis points ahead of plan, attributed to unanticipated special waste activity [14] - The pricing environment remains constructive, with expectations for continued pricing above internal cost of inflation [8] - Commodity prices decreased by 33% year-over-year, impacting margins, but underlying consolidated margins improved by over 150 basis points from the prior year [15][18] Company Strategy and Development Direction - The company aims to achieve low- to mid-30s margins by 2028, supported by operational efficiencies and capital allocation strategies [9][11] - The relocation of the executive headquarters to the U.S. is expected to enhance visibility with investors and broaden eligibility for U.S. equity indices [12] - The company plans to continue focusing on M&A opportunities within existing markets to leverage infrastructure and achieve higher returns [65] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to meet and potentially exceed 2026 guidance, citing multiple avenues for upside [12] - The macro environment remains challenging, but there are signs of improvement in customer sentiment and capital plans for 2026 [98] - The company is committed to maintaining leverage in the low to mid-3s range while pursuing growth opportunities [24] Other Important Information - The company completed $1 billion in M&A and repurchased over $3 billion of its own shares in 2025 [10][16] - The adjusted Free Cash Flow conversion improved to 38%, despite headwinds from M&A and FX [16] - The company expects 2026 revenue to be approximately $7 billion, an 8% increase over 2025 [18] Q&A Session Summary Question: Does the leverage guidance assume no incremental M&A and buyback? - Management confirmed that the leverage guidance is committed to low to mid threes, and any M&A or buybacks would increase that number [24] Question: Can you break down the EBITDA bridge for 2026? - Management acknowledged the complexity of the EBITDA bridge, noting that organic EBITDA growth is expected to be in the mid- to high single digits [25][27] Question: What is the expected ramp for EPR and R&G investments? - Management indicated that EPR contributions will be front-end loaded, with expectations for a significant portion in Q1 [33] Question: How do you balance M&A and share buybacks? - Management stated that while the stock is undervalued, they will continue to evaluate both M&A opportunities and share buybacks based on market conditions [40][41] Question: How did GIP and ES perform in 2025? - Management reported that both businesses performed in line with expectations, with GIP primarily driven by government contracts [48] Question: Is there any guidance for Q1? - Management provided Q1 revenue guidance of CAD 1.6 billion to CAD 1.625 billion, with a margin of approximately 28.8% [55]

A growing number of London-listed firms are turning away from the growth-focused Alternative Investment Market, in search of new investors and index inclusion in the main market https://t.co/FaPGj4n7ti ...

Core Viewpoint - Advisers to CEO Elon Musk are actively engaging with major index providers to explore opportunities for earlier inclusion in market benchmarks, aiming to enhance the company's share value [1] Group 1 - The outreach to index providers indicates a strategic move by the company to improve its market position [1] - The focus on securing earlier inclusion in benchmarks suggests a proactive approach to influence investor perception and potentially increase share prices [1]

Core Viewpoint - Walmart Inc. will be added to the Nasdaq-100 Index and related indices, replacing AstraZeneca PLC, effective January 20, 2026 [1][2]. Group 1: Index Changes - Walmart Inc. will replace AstraZeneca PLC in the Nasdaq-100 Index, the Nasdaq-100 Equal Weighted Index, and the Nasdaq-100 Ex-Tech Sector Index [2]. - AstraZeneca PLC will also be removed from multiple other indices, including the Nasdaq-100 ESG Index and the Nasdaq-100 Low Volatility Index, prior to market open on January 20, 2026 [2]. Group 2: Nasdaq-100 Index Overview - The Nasdaq-100 Index tracks the performance of 100 of the largest non-financial companies listed on the Nasdaq Stock Market, covering various industries such as technology, retail, healthcare, and media [3]. - The index is recognized globally and reflects the dynamics of the 21st-century economy [3]. Group 3: Nasdaq Global Indexes - Nasdaq Global Indexes has been a leader in market-driven index solutions since 1971, offering a range of indexes that reflect today's dynamic markets [4]. - The mission of Nasdaq Global Indexes is to create innovative opportunities for financial product sponsors and asset managers [4]. Group 4: Nasdaq Company Overview - Nasdaq is a leading global technology company that serves various financial market participants, aiming to enhance liquidity, transparency, and integrity in the global economy [5]. - The company provides a diverse range of data, analytics, and software solutions to help clients optimize their business strategies [5].

Core Insights - Falcon's Beyond Global, Inc. has been included on the preliminary list for addition to the Russell 2000® Index, indicating a significant recognition in the market [1] - The final membership is expected to be effective after the reconstitution of the Russell U.S. Indexes on December 22, 2025, which could enhance the company's visibility and investment appeal [1] Company Summary - Falcon's Beyond is recognized as a leader in innovative and immersive storytelling, showcasing its unique position within the industry [1] - The inclusion in the Russell 2000® Index reflects the company's growth and potential for future investment opportunities [1]