Core Insights - Unisys has been recognized on Forbes' list of America's Best Midsize Employers for 2026, highlighting its commitment to employee satisfaction, growth opportunities, and innovation [1] Group 1: Recognition and Rankings - The Forbes ranking includes companies with at least 1,000 employees in the U.S. that demonstrate a commitment to employee satisfaction and innovation [1] - Unisys has previously been recognized on TIME Magazine's World's Best Companies 2025 List and the Financial Times' Best Employers in Asia-Pacific for two consecutive years [1] Group 2: Employee Engagement and Culture - The company fosters a culture built on curiosity, experimentation, and continuous development, enabling employees to enhance their skills and drive innovation [1] - Ruchi Kulhari, senior vice president and chief human resources officer at Unisys, emphasized the importance of collaboration and shared growth within the company [1] Group 3: Evaluation Methodology - The Forbes list was determined through an independent survey of over 217,000 U.S. employees, considering more than 3.5 million employer evaluations [1] - The final score is based on personal evaluations from employees and public evaluations from friends, family, and industry peers, with a higher weighting on personal evaluations [1]

RT Paul Atkins (@SECPaulSAtkins)Today, I testified before Congress on the progress we’ve made at @SECgov to protect investors & strengthen our capital markets.As we move into 2026, my colleagues and I remain committed to increasing transparency, accountability, and innovation.Here are our priorities. (1/5) ...

Financial Data and Key Metrics Changes - The company is experiencing a mid-single-digit sales decline in Q3, primarily driven by the Consumer Beauty segment, which is still in a phase of addressing operational gaps [34][38] - Gross margin for Q2 was lower than expected, with a contraction of 200-300 basis points attributed to high promotional activity, tariffs, and foreign exchange impacts [44][46] Business Line Data and Key Metrics Changes - Consumer Beauty is underperforming, with significant declines in iconic brands like COVERGIRL, although recent initiatives have shown early signs of improvement [5][40] - The Prestige division is seeing a sequential recovery, with improved synchronization between sell-in and sell-out, although challenges remain in the U.S. market [41][46] Market Data and Key Metrics Changes - The company has reported over 30% sales growth in its prestige portfolio on Amazon, indicating a successful adaptation to changing consumer purchasing behaviors [14][15] - The promotional environment has intensified, with competitors increasing markdowns, which is expected to continue into Q3 [59][60] Company Strategy and Development Direction - The company is focusing on streamlining its portfolio by prioritizing iconic brands and reducing SKU proliferation to enhance market share and sell-out growth [5][13] - Future initiatives include launching sharper, more focused product bundles and leveraging AI for cost-effective asset creation [8][32] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that recent financial performance has not met expectations and emphasizes a commitment to transparency and disciplined execution moving forward [69] - There is confidence that the changes being implemented will lead to improved performance over time, although it will not happen overnight [69] Other Important Information - The company is actively investing in new channels such as TikTok and e-commerce to capture emerging consumer segments, particularly Gen Z [17][62] - The exit from the Gucci license in 2028 is prompting the company to focus on building its existing brand franchises and exploring new growth opportunities [20][22] Q&A Session Summary Question: Future performance improvement plan for Consumer Beauty - Management is focusing on iconic brands and streamlining product offerings to improve sales and market share, with expected benefits materializing in fiscal 2027 [4][9] Question: Changes in channel strategy - The company is investing heavily in online and e-commerce channels while also protecting existing retail channels to cater to diverse consumer demographics [17][19] Question: Managing business after Gucci license ends - The company plans to drive growth in existing franchises and explore new brand opportunities while adjusting cost structures as needed [20][22] Question: Impact of SKU rationalization on top line and gross margin - SKU rationalization is expected to improve operational efficiency and gross margins over time, with a focus on driving top line growth as a priority [66][67]

Core Viewpoint - RCK Partners has established an Innovation Advisory Council (IAC) to enhance its R&D-focused advisory services, aiming to strengthen client support and adapt to changes in the UK's R&D ecosystem [1][2][3] Group 1: Purpose and Structure of the IAC - The IAC is composed of senior advisers from various sectors, including technology, life sciences, manufacturing, and defence, to leverage their expertise for RCK's clients [1][2] - The council is expected to provide guidance and best practices to help clients navigate regulatory and market changes, thereby maintaining competitiveness [2][3] Group 2: Strategic Intent - The formation of the IAC aligns with RCK's commitment to "growth, governance and excellence" in the R&D landscape, particularly in light of ongoing reforms to the R&D tax regime [2][4] - RCK's leadership emphasizes the importance of R&D tax incentives as critical drivers of innovation and investment for businesses [3][4]

Financial Data and Key Metrics Changes - For the full year 2025, Carlisle generated $5 billion in revenue, with adjusted EPS at $19.40 and adjusted EBITDA margins of 24.4% [4] - In Q4 2025, revenue was approximately $1.1 billion, with adjusted EPS at $3.90 and adjusted EBITDA margin at 22.1%, a decrease of 300 basis points year-over-year [24][25] - Free cash flow for 2025 was $972 million, representing a free cash flow margin of 19.4%, exceeding the Vision 2030 target of 15% [5][29] Business Line Data and Key Metrics Changes - CCM (Commercial Roofing and Building Envelope) reported Q4 revenue of $827 million, a decline of 0.8% year-over-year, with adjusted EBITDA of $222 million, down 10% from the prior year [25] - CWT (Construction and Water Treatment) reported Q4 revenues of $301 million, up 4% year-over-year, but organic revenue declined 7% due to softness in new construction markets [26][27] Market Data and Key Metrics Changes - The reroofing market, which constitutes approximately 70% of CCM's business, is expected to grow low to mid-single digits in 2026, driven by the aging non-residential building stock [9][12] - The overall North American roofing and building envelope market is considered attractive due to regulatory pressures for energy efficiency and an aging building base [11] Company Strategy and Development Direction - The company aims to achieve adjusted EPS of $40 per share and maintain ROIC above 25% as part of its Vision 2030 strategy [5][22] - Key pillars of the strategy include operational excellence, customer experience, innovation, acquisitions, and talent management [14][20] Management's Comments on Operating Environment and Future Outlook - Management anticipates low single-digit revenue growth for 2026, with a gradual recovery expected in the second half of the year [13][30] - The company remains focused on innovation and operational improvements to drive margin expansion despite market uncertainties [32] Other Important Information - Carlisle repurchased $1.3 billion of shares in 2025 and returned $181 million to shareholders through dividends, marking the 49th consecutive annual dividend increase [6][29] - The company has a strong balance sheet with $1.1 billion in cash and equivalents, providing flexibility for future investments and acquisitions [28] Q&A Session Summary Question: Update on Vision 2030 and key pillars for reaching $40 EPS - Management highlighted margin expansion at CWT and technology advancements as critical to achieving the $40 EPS target, with M&A remaining an important component [36][38] Question: Sustainability of reroofing demand and new construction recovery - Management expressed optimism about the reroofing market and potential recovery in new construction, particularly with government investments [45][46] Question: Anticipation of distributor restocking activity and distribution disruptions - Management noted progress in resolving distribution issues and expects positive volume improvements as the construction season begins [53][54] Question: Pricing outlook for single ply and market fundamentals - Management indicated that pricing has been relatively flat but anticipates potential upward pressure if new construction rebounds [59][60] Question: Pricing expectations for CWT in 2026 - Management expects pricing for CWT to remain flat throughout 2026, with minor fluctuations possible [72]

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Financial Data and Key Metrics Changes - The company reported a decline in earnings before interest and taxes (EBIT) driven by tariff pressures and reduced demand, with a $30 million decline attributed to tariff-driven issues in the textile business and a $20 million headwind from reduced demand across cellulosics [7][8] - The company aims for a significant cost reduction goal in the range of $125 million to $150 million, building on $100 million achieved last year [10][11] Business Line Data and Key Metrics Changes - In the fibers segment, the company has stabilized volume relative to last year, although a modest price decline was necessary to achieve this stability [9][10] - The chemical intermediates segment is undergoing a project to convert bulk ethylene into propylene, which is expected to improve earnings by $50 million to $100 million [16][17] Market Data and Key Metrics Changes - The North American market for chemical intermediates is more profitable than the export market, with tariffs providing some protection against Chinese competition [18][19] - The company noted that demand in the North American market is expected to recover, particularly in building construction and durable goods [19][20] Company Strategy and Development Direction - The company is focusing on innovation and cost reduction to drive growth, particularly in advanced materials and fibers [34][36] - There is an emphasis on maintaining margins while pursuing volume growth in non-core applications, with a cautious approach to market share in high-value products [37][38] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the macroeconomic environment, noting that consumer demand remains weak and uncertainty persists [49][50] - The company is optimistic about potential upside if consumer confidence improves, particularly with anticipated government actions to stimulate the economy [51][52] Other Important Information - The company has faced challenges with mechanical recycling quality, which has confirmed the value proposition of its chemical recycling processes [60][61] - Regulatory changes in Europe have led to the discontinuation of certain crop protection products, impacting profitability [54] Q&A Session Summary Question: Actions on fibers and impact on earnings - Management highlighted that fibers are a top priority, with actions taken to stabilize the business after previous declines, including managing pricing and customer contracts [7][9] Question: Reducing earnings volatility in Chemical Intermediates - The E2P project is a key initiative to convert ethylene to propylene, expected to significantly improve earnings [16][17] Question: EPS bridge from Q1 last year to Q1 this year - Management noted that Q1 is a tough comparison due to strong performance last year, but they expect volume recovery and improved performance moving forward [21][26] Question: Inventory levels at customers - Management indicated that customers have learned from past overbuilding and are currently managing inventory levels more cautiously [66][70]

Financial Data and Key Metrics Changes - Total second quarter revenues were $224.7 million, increasing 2.9% on a core basis, with foreign currency contributing 0.9% and divestitures and discontinued products impacting by 6.6% [12][19] - Adjusted EBITDA was $48.7 million, representing a margin of 21.7%, an improvement of 470 basis points from the first quarter [19] - Gross margin in the second quarter was 47.5%, a sequential improvement of 210 basis points from the first quarter, primarily due to volume and lower tariff costs [18] Business Line Data and Key Metrics Changes - Food safety segment revenues were $165.6 million, with core revenue growth of 4.1%, driven by strong growth in indicator testing and culture media product categories [13] - Animal safety segment revenues were $59.1 million, with core revenue growth approximately flat compared to the prior year quarter, despite solid growth in biosecurity products [15] - Global genomics business had core revenue growth accelerate to 6%, with solid growth in the bovine market [16] Market Data and Key Metrics Changes - Core revenue growth in the Latham region was high single digits, while the U.S. and Canada region had mid-single-digit growth [17] - APAC region saw low single-digit core growth, led by pathogen detection products, while EMEA region had a low single-digit core growth decline [17] Company Strategy and Development Direction - The company is focused on improving top-line growth and profitability, with a transformation strategy centered on stabilizing and strengthening its core [4] - A rigorous process-oriented approach to commercial excellence is being implemented, emphasizing strong operational planning and data-driven decisions [5] - The leadership team has been strengthened with experienced operators to drive growth and innovation [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming macroeconomic and execution-related headwinds, with a belief that challenges are solvable or transitory [4] - The company raised its full-year guidance for fiscal 2026, expecting revenue in the range of $845 million-$855 million and adjusted EBITDA of approximately $175 million [20] - Management acknowledged the importance of building credibility with investors and maintaining a conservative approach to guidance amid lingering market weaknesses [42] Other Important Information - The company is in the process of divesting its global genomics business, which is expected to simplify operations and enhance incremental margins [22][23] - The integration of Petrifilm is on track for the second quarter of fiscal 2027, with positive progress in production testing and product validation [9][56] Q&A Session Summary Question: Can you discuss the new management team and their integration? - Management highlighted the recruitment of top-tier talent with experience in diagnostics and life sciences, emphasizing the importance of operational excellence and alignment on priorities [30][32] Question: What are the headwinds to margins from sample handling? - Management acknowledged challenges in sample collection but expressed optimism for profitability improvements in the second half of the year [34][36] Question: Why is the implied H2 growth or margin not higher? - Management indicated a prudent approach to guidance, focusing on sustainable performance and the settling in of the new team [41][42] Question: Were there any one-time revenue tailwinds in the quarter? - Management noted a $2 million insecticide tailwind in the animal safety segment as the only significant one-time factor [45] Question: What changes in the commercial organization have contributed to recent success? - Management emphasized a focus on basics, driving simplicity, and implementing a weekly forecasting process to enhance predictability [51][52]

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Welcome to your everyday treasure hunt for a better tomorrow. I wanted to start this talk with this invitation because it holds two things. It's a wish and a confession. It's the wish that we never ever stop wondering and that we never ever stop hunting the ever day treasures that lie in wondering.And it's a confession because not long ago I almost did when I started this talk preparing working on it. I started doing it like I did it almost every time in the manner of a good academic speech well prepared we ...