THIRD QUARTER 2025 HIGHLIGHTS 1 SAFE HARBOR STATEMENT Forward Looking Statements This presentation, as well as other written or oral communications made from time to time by us, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements refer to our current expectations and projections relating to our financial condition, results of operations, plans, objectives, strategies, future performance, and business. All sta ...

Core Insights - United Parks & Resorts Inc. reported disappointing financial results for Q3 and the first nine months of fiscal year 2025, citing unfavorable calendar shifts, poor weather, and a decline in international visitation as key factors impacting performance [2][8][11]. Financial Performance - Attendance in Q3 2025 was approximately 6.8 million guests, a decrease of about 240,000 guests or 3.4% compared to Q3 2024 [7][8]. - Total revenue for Q3 2025 was $511.9 million, down $34.1 million or 6.2% from Q3 2024 [7][10]. - Net income for Q3 2025 was $89.3 million, a decrease of $30.4 million or 25.4% from Q3 2024 [7][10]. - Adjusted EBITDA for Q3 2025 was $216.3 million, down $42.1 million or 16.3% from Q3 2024 [7][10]. - For the first nine months of 2025, attendance was approximately 16.4 million guests, a decrease of about 252,000 guests or 1.5% from the same period in 2024 [11]. - Total revenue for the first nine months of 2025 was $1,289.0 million, down $51.9 million or 3.9% from the first nine months of 2024 [11][12]. Key Metrics - Total revenue per capita in Q3 2025 decreased by 2.9% to $75.39 compared to Q3 2024 [7][10]. - Admission per capita decreased by 6.3% to $39.57, while in-park per capita spending increased by 1.1% to $35.82 compared to Q3 2024 [7][10]. - For the first nine months of 2025, total revenue per capita decreased by 2.4% to $78.53 [11][12]. - Admission per capita for the first nine months decreased by 4.9% to $41.46, while in-park per capita spending increased by 0.6% to a record $37.07 [11][12]. Share Repurchase Program - The Board of Directors was granted authority to approve additional share repurchases, with a previously announced $500 million repurchase program [2][13]. - As of November 4, 2025, the company had repurchased 635,020 shares for a total of approximately $32.2 million [2][13]. Future Outlook - The company expressed confidence in its ability to improve operational and financial performance moving into 2026, with expectations of increased attendance and per capita spending [5][6]. - Upcoming attractions and events for 2026 were announced, including new rides and immersive experiences at various parks [6][15].

Snap, Inc. (NYSE:SNAP) stock soared after the company released its third-quarter earnings report after Wednesday's closing bell, beating expectations on the top and bottom lines. Here's a look at the details in the report. SNAP stock is moving. See the real-time price action here.The Details: Snap reported quarterly losses of six cents per share, which beat the analyst estimate for losses of 12 cents.Quarterly revenue came in at $1.5 billion, which beat the analyst consensus estimate of $1.49 billion and wa ...

Core Insights - Green Thumb Industries reported third quarter revenue of $291 million, reflecting a 2% year-over-year increase, despite price compression in key markets [4][11] - The company achieved an adjusted EBITDA of $80 million, representing 28% of revenue, and cash flow from operations of $74 million [4][8] - The balance sheet remains strong with cash and cash equivalents totaling $226 million, and no senior credit facility maturities for four years [4][18] Financial Performance - Total revenue for Q3 2025 was $291.4 million, up 1.6% from the previous year [11] - Consumer Packaged Goods revenue increased by 8%, while retail revenue declined by 1% due to price compression in existing markets [11] - Gross profit was $144 million, or 49.4% of revenue, down from 51.4% in the prior year due to price compression [12] Share Repurchase and Capital Allocation - The company has repurchased approximately $107 million of subordinate voting shares since late 2023, reducing total shares outstanding by 13.5 million [5][19] - A new share repurchase program for $50 million was authorized, extending through September 2026 [5][19] Market Expansion and Strategy - The eighth Minnesota RISE Dispensary commenced adult-use sales on October 21, 2025, contributing to the company's growth strategy [3][10] - The company completed a transaction with RYTHM, Inc. to expand THC products beyond dispensaries, enhancing its market position [7] Industry Context - Despite ongoing challenges such as federal reform uncertainty and 280E taxation, cannabis demand continues to rise, positioning it as a fast-growing consumer category [6] - The company remains optimistic about future market share expansion and the establishment of adult-use markets in states like Virginia [11]

Core Viewpoint - Torex Gold Resources Inc. has announced an initial return of capital program, which includes a quarterly dividend and share repurchases, reflecting strong cash flow generation following the successful completion of the Media Luna project [1][2]. Return of Capital Program - The return of capital program will feature a quarterly dividend of C$0.15 per common share and discretionary share repurchases through the normal course issuer bid (NCIB) [1]. - The inaugural quarterly dividend is set to be paid on December 4, 2025, to shareholders of record as of November 20, 2025, with a total expected payout of approximately C$14.4 million ($10.2 million) based on 96.1 million shares outstanding [5][7]. Financial Performance and Strategy - The company reported a return to positive free cash flow in June 2025, with a modest level of debt, making it an opportune time to return capital to shareholders [2]. - Year-to-date, the company has returned C$10.0 million ($7.2 million) through share repurchases in Q3 2025, repurchasing 239,204 shares at an average price of C$41.79 per share [10]. Future Plans - The return of capital plan is expected to evolve through 2026 as the company's balance sheet strengthens, with plans to pay down debt and maintain a minimum cash balance of $200 million [3]. - The company anticipates robust free cash flow generation, allowing for capital returns without compromising funding for future projects, including extending the mine life at Morelos and advancing the Los Reyes project [4]. Share Repurchase Program - The current NCIB commenced on November 21, 2024, and will expire on November 20, 2025, with intentions to seek approval for renewal on similar terms [8]. - Future share repurchases will depend on the underlying share price, long-term metal prices, and market conditions [9].

Core Insights - Vistra Corp. (VST) is anticipated to show an increase in revenues but a significant decline in earnings per share (EPS) for Q3 2025, with revenues expected to reach $7 billion, reflecting an 11.28% year-over-year growth, while EPS is projected to drop by 77.14% to $1.20 per share [1][2][6] Revenue and Earnings Estimates - The Zacks Consensus Estimate for VST's Q3 revenues is $7 billion, indicating an 11.28% increase from the previous year [1] - The estimated EPS for Q3 is $1.20, which represents a 77.14% decline compared to the same quarter last year [2] - Year-over-year growth estimates for the current year and next year are -2.86% and 23.46%, respectively [3] Earnings Performance History - Vistra has surpassed earnings expectations in two of the last four quarters, with an average surprise of 69.75% [4][5] Factors Influencing Q3 Performance - Increased demand for clean electricity from data centers and the Permian Basin is expected to positively impact Q3 performance [6][10] - The company's hedging strategy has secured generation volumes, contributing to its stock performance, which has outperformed the industry [6][12] Shareholder Value and Capital Allocation - Vistra's share repurchase program has enhanced shareholder value, executing $5.4 billion in buybacks since November 2021, with plans for an additional $1.4 billion between 2025 and 2026 [11] - The company maintains a disciplined capital allocation strategy, focusing on high-return projects to ensure consistent cash flow generation [18] Market Position and Valuation - VST's shares have increased by 32.7% over the past six months, outperforming the industry average of 7.4% [13] - The stock is currently trading at a premium compared to its industry on a forward 12-month P/E basis [15] Growth Strategy - Vistra is expanding its generation capacity through both organic initiatives and strategic acquisitions, leveraging its integrated business model for competitive advantage [17][21]

Financial Data and Key Metrics Changes - Gulfport Energy reported net cash provided by operating activities before changes in working capital of approximately $198 million during Q3 2025, which more than funded capital expenditures and common share repurchases [16] - Adjusted EBITDA for the quarter was approximately $213 million, with adjusted free cash flow of approximately $103 million, including about $12.4 million of discretionary capital expenditures [16] - The all-in realized price for Q3 was $3.37 per Mcfe, reflecting a premium of $0.30 above the NYMEX Henry Hub Index price [16][17] Business Line Data and Key Metrics Changes - Average daily production totaled 1.12 billion cubic feet equivalent per day, an increase of 11% over Q2 2025, with a full-year production target of approximately 1.04 billion cubic feet equivalent per day [7] - The company achieved a significant milestone by completing the redemption of preferred equity, simplifying its capital structure and complementing its ongoing equity repurchase program [6][20] Market Data and Key Metrics Changes - Gulfport's marketing and takeaway arrangements improved realized prices, with firm transportation agreements accessing markets that averaged more than $0.50 above the NYMEX Henry Hub index price during Q3 [18] - The company noted an exciting time for the natural gas market driven by LNG expansion and increased demand for natural gas power generation [17] Company Strategy and Development Direction - Gulfport is focused on expanding and responsibly developing high-quality low breakeven inventory while prioritizing shareholder returns [15] - The company has invested over $100 million since mid-2023 towards high-quality, low breakeven locations, enhancing optionality across its portfolio [5] - Gulfport plans to allocate approximately $325 million to common stock repurchases during the year while maintaining financial leverage at or below 1x [10][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the natural gas market and the company's ability to benefit from improving fundamentals, with a focus on operational execution and optimization [17][27] - The company is positioned to deliver offsetting volumes into a favorable economic commodity price environment, with proactive capital investments planned for 2025 [10][18] Other Important Information - Gulfport's gross undeveloped inventory has increased by more than 40% since year-end 2022, now estimated at approximately 700 gross locations [5] - The company has returned $785 million to shareholders since March 2022 and plans to allocate an incremental $125 million towards repurchases during Q4 2025 [6][20] Q&A Session Summary Question: Improvement in well results - Management highlighted the team's focus on operational execution and optimization of completions and drilling, leading to improved well results [25][26] Question: Capital allocation strategy - Management discussed the balance between share buybacks and potential M&A opportunities, emphasizing the attractiveness of organic growth through existing assets [32][33] Question: Appraisal development wells - The decision to add appraisal development wells this year was driven by robust cash flow and favorable commodity prices, positioning the company for future growth [37][41] Question: Production shape and guidance - Management indicated a front-loaded capital program, expecting strong production in Q3 and Q4, with a slight dip in early 2026 due to midstream constraints [51][54] Question: NGL recoveries and marketing - The company reported strong NGL recoveries from new developments, with favorable contracts enhancing netbacks despite market challenges [94][96] Question: Ohio Energy Opportunity Initiative - Management noted increasing interest in Ohio for data center development and natural gas demand, viewing it as a positive momentum for the region [101][104]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $27.8 million, a 6% decline compared to the same period in 2024 [16] - Adjusted EBITDA from continuing operations was positive at $900,000, a decline of $3.7 million year over year [22] - Gross margin was 56%, a decrease of 10 percentage points year over year, but an improvement of 5 percentage points sequentially from Q2 [19] Business Line Data and Key Metrics Changes - Commercial channel revenue grew 22% year over year to $12 million, driven by a 25% increase in regenerative solutions [16][18] - OEM channel revenue declined 20% to $15.8 million, primarily due to pricing pressure [18] - Integrity procedures in the U.S. grew for the sixth consecutive quarter, with a projected doubling of procedures and revenue in 2025 compared to last year [7][17] Market Data and Key Metrics Changes - International OA pain management revenue grew 21% year over year, with year-to-date growth at 6% [9][18] - Cingal injections surpassed 1 million since its launch in 2016, indicating strong uptake outside the U.S. [9] Company Strategy and Development Direction - The company is focused on executing its product growth strategy and enhancing operational performance to create shareholder value [14] - A second $15 million share repurchase program has been initiated, reflecting a commitment to returning capital to shareholders [24] - The company is advancing toward key regulatory milestones, including the NDA submission for Cingal and the PMA submission for Hyalofast [14][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the OA pain management business despite Johnson & Johnson's separation of its orthopedic business [6] - The company anticipates flat to modestly lower revenue in the OEM channel due to ongoing pricing pressure but expects unit volume growth to offset this [18] - Management remains focused on improving expense profiles to deliver positive operating cash flow and sustainable returns for shareholders [25] Other Important Information - The third and final PMA module for Hyalofast was submitted to the FDA, marking a significant milestone [10] - The company has streamlined its organizational structure following two divestitures earlier in 2025, leading to a 12% reduction in SG&A expenses [20][21] Q&A Session Summary Question: What are the priorities for increasing Integrity utilization? - Management indicated a balanced focus on acquiring new surgeons and training existing ones to drive utilization [29][31] Question: What is the timeline for Cingal bioequivalents and toxicity studies? - Management stated that the timeline will be clearer after the bioequivalent study begins, expected by the end of the year [32] Question: How does the company prioritize capital deployment? - The hierarchy includes internal investments in product growth, CapEx for manufacturing support, and share repurchase, with M&A not currently prioritized [33][35] Question: Are production issues fully resolved? - Management confirmed that production issues were a hangover from earlier disruptions but are expected to be resolved by year-end [36] Question: What are the expectations for gross margin in Q4? - Management indicated that gross margin in Q4 is expected to be between current levels and slightly higher, depending on recovery from shipping dynamics [37]

Core Insights - Cinemark experienced a revenue and profit decline for the three months ending in September due to a softer box office, but it plans to increase its quarterly dividend by 12.5% and initiate a $300 million share repurchase program, indicating confidence in its financial position and strategic outlook [1] Financial Performance - Revenue decreased by 7% to $857 million, surpassing forecasts, with admissions contributing $430 million and concessions $337 million, supported by attendance of 54.2 million patrons [2] - Net profit fell to $51 million, or 40 cents per diluted share, down from $189 million in the same quarter last year [2] Box Office and Programming - Cinemark achieved its second highest quarterly box office for non-traditional programming, with revenue from immersive D-Box seating reaching a record high [3] - The CEO expressed optimism about a strong finish to 2025, citing a robust and diverse holiday film slate, despite current challenges in the box office [4][5]

Core Points - Karat Packaging Inc. has declared a regular quarterly dividend of $0.45 per share, payable on or about November 28, 2025, to stockholders of record as of November 21, 2025 [1] - The board has authorized a share repurchase program to buy up to $15.0 million of the Company's common stock [2] - The CEO expressed confidence in the Company's growth potential and financial strength, emphasizing a commitment to delivering long-term value to shareholders [3] Dividend Announcement - The declared quarterly dividend is $0.45 per share [1] - Payment date is set for November 28, 2025, with a record date of November 21, 2025 [1] Share Repurchase Program - The program allows for the repurchase of up to $15.0 million of common stock [2] - Repurchases will be conducted in accordance with applicable securities laws and can occur through various methods [4] - The program has no expiration date and can be modified or terminated at the board's discretion [4] Company Overview - Karat Packaging Inc. specializes in disposable foodservice products, serving national and regional restaurants [5] - Product offerings include food containers, bags, tableware, cups, and eco-friendly options under the Karat Earth® line [5] - The company also provides customized solutions, including product development and logistics services [5]