Financial Data and Key Metrics Changes - The second quarter RevPAR increased by 2.2% compared to last year, while total RevPAR grew by 3.7% [29] - Adjusted EBITDAre for the second quarter was $73 million, and adjusted FFO was $0.28 per diluted share [29] - The company has a net leverage of 3.5 times trailing earnings or 4.8 times including preferred equity [29] Business Line Data and Key Metrics Changes - Urban hotels led the portfolio with RevPAR growth of over 9%, driven by strong corporate group and business travel demand [7] - The Marriott Long Beach Downtown saw RevPAR increase nearly 70% due to recent investments and brand conversion [7] - The Renaissance Orlando at SeaWorld reported a year-to-date production increase of 16% in room nights and over 30% in revenue [11] Market Data and Key Metrics Changes - The company experienced mixed performance across various markets, with San Francisco showing RevPAR growth of 6.5% and total RevPAR growth of over 16% [9] - Washington DC faced challenges due to government cancellations, impacting performance negatively [10] - Wailea and Key West saw increased price sensitivity, contributing to lower than expected growth [12] Company Strategy and Development Direction - The company is taking a cautious approach to fourth quarter expectations due to heightened uncertainty and limited visibility [6] - There is a focus on capital recycling, with the sale of Hilton New Orleans St. Charles and $100 million in share repurchases planned [18] - The company aims to drive earnings growth through renovations and strategic investments in existing properties [92] Management's Comments on Operating Environment and Future Outlook - Management noted a more cautious outlook for the remainder of the year, primarily due to continued weakness in government demand and softer leisure demand [19] - There are encouraging signs in leisure bookings in Miami and Wailea, which could lead to better-than-anticipated fourth quarter results [6] - The company expects total portfolio RevPAR growth to range from 3% to 5% compared to 2024, with adjusted EBITDAre projected between $226 million to $240 million [31][32] Other Important Information - The company has nearly $145 million in total cash and cash equivalents, equating to over $600 million in total liquidity [30] - The updated guidance reflects a more cautious expectation for the remainder of the year, particularly for Andaz Miami Beach [31] - The company has repurchased over 11 million shares this year, contributing to an estimated 6% accretion in earnings per share [34] Q&A Session Summary Question: Recent booking trends in Maui - Management noted that occupancy in Kaanapali has improved, which positively impacts Wailea's performance, leading to increased leisure bookings [40][41][44] Question: Change in outlook and EBITDA reduction - The reduction in outlook is attributed to softness in Wailea and Washington DC, along with a slower ramp-up at Andaz Miami Beach [50][54] Question: Comfortable leverage and buyback strategy - The company is comfortable with its current leverage and sees ample capacity for additional share repurchases, balancing this with other capital allocation opportunities [58][60] Question: Group business outlook for 2026 - Management indicated that DC, Miami, and New Orleans are expected to be stronger markets, with good growth anticipated in San Francisco and wine country [65][66] Question: Impact of renovations and future growth - Renovations in various properties are expected to contribute to future growth, with specific focus on improving transient bookings and group business [92][94]

Group 1 - Vaisala Corporation executed a share repurchase on August 6, 2025, buying 4,500 shares at an average price of €46.8872 per share, totaling €210,992.40 [1] - Following this transaction, Vaisala Corporation now holds a total of 131,629 shares [1] - The share buybacks are conducted in compliance with European regulations, specifically Regulation No. 596/2014 and Commission Delegated Regulation (EU) 2016/1052 [1] Group 2 - Vaisala is recognized as a global leader in measurement instruments and intelligence for climate action, focusing on improving resource efficiency and driving energy transition [2] - The company has nearly 90 years of innovation and expertise, employing around 2,500 experts dedicated to environmental measures [2] - Vaisala's series A shares are listed on the Nasdaq Helsinki stock exchange [2]

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of approximately $212 million during the quarter, with adjusted free cash flow of $64.6 million, reflecting over 70% growth quarter over quarter [12][13] - Net cash provided by operating activities before changes in working capital totaled approximately $198 million during the second quarter, exceeding capital expenditures and common share repurchases while maintaining balance sheet strength [12][13] - Trailing twelve-month net leverage as of June 30 was approximately 0.85 times, down from the prior quarter, indicating improved financial momentum [15][16] Business Line Data and Key Metrics Changes - Average daily production totaled 1,006 million cubic feet equivalent per day, an increase of 8% year-over-year, despite midstream outages impacting production [7][8] - The company executed across all five development areas, achieving strong well performance, particularly in the Utica condensate pad in Southwest Harrison County, which delivered approximately 65% more cumulative oil than Gulfport's lake pad [9][10] Market Data and Key Metrics Changes - The all-in realized price for the second quarter was $3.61 per Mcfe, which is $0.17 above the NYMEX Henry Hub index price, highlighting the benefits of the company's differentiated hedge position and marketing portfolio [14] - Rising natural gas demand is driven by LNG expansion and increased power generation needs, presenting opportunities for Gulfport and its peers [14][15] Company Strategy and Development Direction - The company plans to allocate up to $100 million toward discretionary acreage acquisitions to secure future drilling opportunities and strengthen its inventory runway in the Utica Shale [5][11] - The share repurchase program authorization has been increased by 50% from $1 billion to $1.5 billion, demonstrating a commitment to returning value to shareholders [6][18] - The company aims to redeem all outstanding preferred stock, which could accelerate share repurchase efforts and simplify its capital structure [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a dynamic commodity environment while focusing on financial and strategic objectives [12][19] - The company anticipates continued efficiency across operations and plans to bolster its resource base, positioning itself for long-term success [12][19] Other Important Information - The company has invested approximately $17 million on maintenance leasehold and land investment through June 30, 2025, focusing on near-term drilling programs [11] - The company expects its cash tax position to be negligible for 2025, benefiting from a significant NOL position [19] Q&A Session Summary Question: Can you elaborate on the leasehold spend and its geographical focus? - The company is targeting 40 to 50 wells in Belmont County, Ohio, and Northern Monroe County, focusing on low breakeven high-quality acreage [21][22][23] Question: What are the mechanics of the preferred stock redemption? - The company issued a notice for preferred stockholders to decide on conversion or repurchase by September 5, with plans to lean on liquidity for cash redemption [24][26] Question: How will the company allocate free cash flow post-redemption? - The company aims for a leverage target around one times and will continue to evaluate opportunities for high-quality locations while considering shareholder returns [31][32][33] Question: What is the competitive return outlook for the condensate area? - The condensate area remains strong with above 70% IRR, and the company plans to maintain a balanced portfolio while monitoring commodity prices [37][38] Question: Will Gulfport participate in power contracting momentum? - The company is likely to participate through intermediaries and expects rising in-basin prices due to increased demand [54][55] Question: How will the company treat preferred equity post-redemption? - The company plans to absorb cash repurchase under its RBL, with a focus on maintaining leverage around one turn [61][62] Question: What is the expected production trajectory heading into 2026? - The company anticipates a 10% uptick in Q3, with a relatively flat Q4 leading into 2026, focusing on gas and wet gas production [68][69] Question: Will the company consider instituting a base dividend? - The management is monitoring the situation and is satisfied with the current share repurchase strategy, but is open to changes in the future [70][72]

Financial Performance - DNOW Inc achieved revenue of $628 million in Q2 2025, a 5% sequential increase[14,15] - GAAP net income attributable to DNOW Inc was $25 million, with a diluted EPS of $0.23[17] - Non-GAAP net income attributable to DNOW Inc, excluding other costs, was $29 million, with a diluted EPS of $0.27[18,19] - EBITDA reached $51 million, representing 8.1% of revenue[20,21] - Gross margins were 22.9%, showing an increase year-over-year and compared to full-year 2024[21] Capital Allocation and Liquidity - $19 million in shares were repurchased during Q2 2025, with $27 million repurchased year-to-date, as part of a newly authorized $160 million share repurchase program[22,23,30] - The company maintains a strong balance sheet with $582 million in total liquidity and no debt[25] Segment Performance - United States revenue increased to $528 million, a 3% increase compared to Q2 2024[37,40] - Canada revenue decreased to $48 million, a 14% decrease compared to Q2 2024[38,40] - International revenue decreased to $52 million, a 20% decrease compared to Q2 2024[39,40] Strategic Initiatives - DNOW Inc announced a merger agreement with MRC Global, expected to increase scale and scope across diverse industries and global markets[31,57,60] - The company closed the Natron International acquisition in April 2025[31] Outlook - DNOW Inc expects Q3 2025 revenue to increase in the low single-digits percentage range sequentially and EBITDA approaching 8% of revenue[63] - The company reaffirms its full-year 2025 revenue outlook to be flat-to-up in the high single-digit percentage range compared to 2024, with EBITDA approaching 8% of revenue and free cash flow targeted at $150 million[63]

Core Insights - Cirrus Logic reported strong fiscal Q1 results, with non-GAAP earnings per share of $1.51 and GAAP revenue of $407.3 million, both exceeding Wall Street expectations [1][5][9] Financial Performance - Non-GAAP EPS of $1.51 surpassed the estimate of $1.01, reflecting a year-over-year increase of 34.8% from $1.12 in Q1 FY25 [2] - GAAP revenue reached $407.3 million, an 8.9% increase from $374.0 million in Q1 FY25 [2] - Gross margin improved to 52.6%, up 2.0 percentage points from 50.6% in the previous year [2][8] - Free cash flow surged to $113.4 million, a significant increase of 1,961.8% from $5.5 million in Q1 FY25 [2] Business Segments - Revenue from audio products was $240.0 million, up from $219.0 million in Q1 FY25, while high-performance mixed-signal chip sales reached $167.2 million [6] - The company is diversifying its revenue streams, with expectations for laptop market revenue to double in FY26 compared to FY25 [7] - New product offerings include high-performance digital-to-analog converters and advanced audio codecs aimed at professional audio and automotive systems [7] Customer Concentration and Strategy - Cirrus Logic's revenue is heavily reliant on Apple, which accounted for approximately 89% of annual net sales in FY25 [4] - The company focuses on sustained R&D investment to maintain its competitive edge in audio innovation and expand into new markets [4] Future Outlook - Management forecasts Q2 FY26 revenue between $510 million and $570 million, indicating strong sequential growth [9] - Gross margin is expected to remain stable at 51% to 53% for Q2 FY26, with projected non-GAAP operating expenses of $131 million to $137 million [9] - The company aims to reduce its reliance on Apple, with general market revenue potentially reaching 10% of total sales in the future [10]

Core Points - Euronext has announced the cancellation of 2,692,979 ordinary shares following the completion of its €300 million share repurchase program on March 10, 2025 [1] - The cancellation aligns with the company's intention to reduce capital, as stated in the announcement of the share repurchase program on November 7, 2024, and was approved by shareholders during the Annual General Meeting on May 15, 2025 [1] - After the cancellation, Euronext's issued share capital is now €162,468,044.80, divided into 101,542,528 ordinary shares [2] Company Overview - Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, including listing, trading, clearing, settlement, and custody [4] - As of June 2025, Euronext's regulated exchanges host nearly 1,800 listed issuers with a market capitalization of €6.3 trillion, making it a significant player in European equity trading [5] - Euronext handles 25% of European lit equity trading and offers a diverse range of products, including equities, FX, ETFs, bonds, derivatives, commodities, and indices [5]

Euronext announces the cancellation of repurchased shares Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 5 August 2025 – Euronext, the leading European capital market infrastructure, today announced the cancellation of 2,692,979 ordinary shares following completion of its €300 million share repurchase programme on 10 March 2025. The cancellation of the ordinary shares is in line with the intention to reduce capital as stated in the announcement of the share repurchase programme on 7 November 2 ...

Financial Data and Key Metrics Changes - The company is reducing its top and bottom line guidance for 2025, now expecting net sales revenue to decline by 3% to 4% on a constant currency basis, compared to a previous low single-digit decline [11] - Underlying pretax income is now expected to decline by 12% to 15% on a constant currency basis, a significant change from the previous low single-digit decline [12] - Underlying earnings per share are anticipated to decline by 7% to 10%, contrasting with earlier expectations of low single-digit growth [12] - The company reaffirms its underlying free cash flow guidance of $1,300 million plus or minus 10% [36] Business Line Data and Key Metrics Changes - Core power brands, including Coors Light, Miller Lite, and Coors Banquet, maintained a 15.2% volume share of the industry for the first half of the year, up from 13.4% three years ago [15] - Banquet has shown strong performance with over 15% distribution growth in the first half of the year [16] - The company is experiencing a shift to value-seeking behaviors in the U.S., focusing on pack size rather than brand loyalty [18] Market Data and Key Metrics Changes - The U.S. beer industry is down approximately 5% year-to-date, which is worse than previously expected [9] - The Midwest premium pricing has increased by over 180% since January, significantly impacting costs [10] - In Canada, the Molson family of brands gained volume share despite a challenging industry backdrop [17] Company Strategy and Development Direction - The company continues to focus on premiumization in both beer and beyond beer categories, despite current market pressures [18] - The strategy includes leveraging capabilities and partnerships to support profitable growth and maintaining the health of core brands [24] - The company is committed to executing its share repurchase program and has repurchased 9.4% of its outstanding shares [25] Management's Comments on Operating Environment and Future Outlook - Management views the current softness in industry performance as cyclical, driven by macroeconomic factors [13] - Consumer sentiment in the U.S. remains low, particularly affecting lower-income and Hispanic consumers [6][7] - Management believes that consumer confidence will eventually improve, although the timing is uncertain [42] Other Important Information - The company has raised its quarterly dividend each year since 2021 and continues to execute its share repurchase plan [25] - The integration of Fever Tree is progressing well, and it is expected to contribute positively to brand mix in the Americas [23] Q&A Session Questions and Answers Question: Can you unpack the updated guidance and the profit headwinds, specifically regarding aluminum and the Midwest premium? - Management indicated that the industry did not improve as expected, and the dramatic increase in the Midwest premium significantly impacted Q2 and future assumptions [39][40] Question: Have you seen any increases from the Midwest premium in Q2, or is that expected in the back half of the year? - Management confirmed that the Midwest premium increased unexpectedly, with an anticipated impact of $20 million to $35 million for the remainder of the year [58] Question: What is the company's confidence level regarding the cyclical nature of the current industry decline? - Management maintains that the current decline is cyclical and believes consumer confidence will eventually recover [42][56] Question: How is the company addressing the competitive environment and potential changes in marketing strategies? - Management is focusing on driving brand campaigns and leveraging partnerships to improve market share, particularly in the on-premise channel [96] Question: Can you provide insights on the volume deleverage impact for the second half of the year? - Management expects to reverse a volume deleverage of approximately 300,000 hectoliters in the second half, mainly in Q3 [103]

Financial Data and Key Metrics Changes - The company is reducing its top and bottom line guidance for 2025, now expecting net sales revenue to decline by 3% to 4% on a constant currency basis, compared to a previous low single-digit decline expectation [10][12] - Underlying pretax income is now expected to decline by 12% to 15% on a constant currency basis, a significant change from the previous low single-digit decline forecast [12] - Underlying earnings per share are anticipated to decline by 7% to 10%, contrasting with earlier expectations of low single-digit growth [12] Business Line Data and Key Metrics Changes - The U.S. beer industry is experiencing a decline of approximately 5% in the second quarter, which is worse than previously expected [8][10] - Core power brands, including Coors Light, Miller Lite, and Coors Banquet, have retained a 15.2% volume share of the industry for the first half of the year, up from 13.4% three years ago [15] - Banquet has shown strong performance, gaining over 15% distribution in the first half of the year and being a top five volume share growth brand [16] Market Data and Key Metrics Changes - Consumer sentiment in the U.S. remains low, particularly affecting lower-income and Hispanic consumers, leading to reduced consumption trends [5][6] - In Canada, the Molson family of brands has posted volume share gains despite a challenging industry backdrop [17] - The UK market remains highly competitive, with brands like Carling and Ajusco maintaining segment leadership despite regional softness [17] Company Strategy and Development Direction - The company is focusing on premiumization across its portfolio, with plans to develop both beer and beyond beer products [18][20] - The strategy includes leveraging capabilities and partnerships to support profitable growth, particularly in the U.S. market [14] - The company aims to maintain the health of its core power brands while navigating macroeconomic pressures [25] Management's Comments on Operating Environment and Future Outlook - Management views the current softness in industry performance as cyclical, driven by macroeconomic factors, and expects consumer confidence to eventually improve [13][44] - The company is committed to protecting and growing its underlying free cash flow while making prudent capital allocation decisions [37] - Management acknowledges the challenges posed by the Midwest premium pricing, which has increased significantly, impacting cost structures [9][12] Other Important Information - The company has executed a share repurchase program, repurchasing 9.4% of its outstanding shares since its announcement in October 2023 [27] - The company has raised its quarterly dividend each year since 2021, reflecting confidence in its financial health [27] Q&A Session Summary Question: Can you unpack the updated guidance and profit headwinds? - Management indicated that the industry did not improve as expected, with a significant increase in the Midwest premium impacting guidance negatively [40][41] Question: What is the impact of Midwest Premium increases? - The company expects an incremental impact of $20 million to $35 million from the Midwest premium for the balance of the year, with a full-year impact of $40 million to $55 million [55] Question: Are there signs of improvement in consumer confidence? - Management noted that overall consumer confidence has not improved, with value-conscious behaviors continuing among consumers [61][62] Question: How is the company addressing competitive pressures? - The company is focusing on marketing strategies for key brands and leveraging partnerships to enhance market presence [91] Question: What are the drivers of margin contraction? - Management highlighted that volume deleverage, higher COGS due to premiumization, and Midwest premium costs are significant factors affecting margins [75]

VAISALA CORPORATION STOCK EXCHANGE RELEASE 4.8.2025 Vaisala Corporation: Share Repurchase 4.8.2025 In the Helsinki Stock Exchange | Trade date | 4.8.2025 | | | --- | --- | --- | | Bourse trade | Buy | | | Share | VAIAS | | | Amount | 120 | Shares | | Average price/ share | 47,0000 | EUR | | Total cost | 5 640,00 | EUR | Vaisala Corporation now holds a total of 127 129 shares including the shares repurchased on 4.8.2025 The share buybacks are executed in compliance with Regulation No. 596/2014 of the Europea ...