Core Insights - Toro Corp. reported its financial results for the third quarter and nine months ended September 30, 2025, highlighting a stable performance despite some declines in revenue and net income compared to the previous year [1][2]. Financial Performance - Third Quarter - Total vessel revenues from continuing operations increased to $5.4 million, a 1.9% increase from $5.3 million in the same period of 2024 [5][6]. - Net income from continuing operations rose to $1.3 million, reflecting a 30% increase from $1.0 million in the third quarter of 2024 [5][6]. - EBITDA from continuing operations was $1.6 million, compared to a loss of $0.1 million in the same period last year [5][6]. - The average Daily TCE Rate improved to $13,363 from $11,426 in the same period of 2024 [6][41]. Financial Performance - Nine Months - Total vessel revenues from continuing operations decreased to $15.0 million, a 12.8% decline from $17.2 million for the nine months ended September 30, 2024 [5][28]. - Net income from continuing operations was $4.2 million, down 6.7% from $4.5 million in the same period last year [5][28]. - Net income overall dropped significantly to $4.3 million, an 82.2% decrease from $24.2 million for the nine months ended September 30, 2024 [5][28]. - EBITDA for the nine months was $3.8 million, up from $1.7 million in the same period of 2024 [5][28]. Operational Developments - The company acquired two MR tanker vessels and sold two LPG carriers during the third quarter, indicating ongoing fleet management activities [4]. - The spin-off of the Handysize tanker segment to Robin Energy Ltd. was completed on April 14, 2025 [5]. Cash Flow and Liquidity - Cash position decreased by $12.1 million to $25.1 million as of September 30, 2025, primarily due to net operating cash flows used in continuing operations and financing activities [15][38]. - The company made a capital contribution of $10.4 million to Robin in connection with the spin-off [15]. Recent Business Developments - On October 15, 2025, Toro received dividends from Castor and Robin, amounting to $1.25 million and $0.125 million, respectively [16]. - An "at-the-market" offering agreement was established on November 13, 2025, allowing the company to sell common shares valued up to $12.5 million for various corporate purposes [18].

Core Viewpoint - Enbridge Inc. has provided its 2026 guidance, projecting adjusted EBITDA between $20.2 billion and $20.8 billion, with distributable cash flow (DCF) per share estimated at $5.70 to $6.10 [1]. Group 1: 2026 Guidance - The company anticipates EBITDA contributions from Liquids Pipelines of approximately $9.6 billion, Gas Transmission around $5.5 billion, and Gas Distribution & Storage roughly $4.5 billion [2]. - Enbridge plans to invest about $10 billion in growth capital for 2026, excluding maintenance capital, while targeting a year-end debt-to-EBITDA ratio of 4.5 to 5 times [2]. Group 2: Dividend Information - The company has increased its quarterly dividend by 3% to 97 cents, which translates to an annualized dividend of $3.88, effective March 1, 2026 [3]. Group 3: 2025 & Long-Term Outlook - For 2025, adjusted EBITDA is projected to be in the upper half of the $19.4 billion to $20 billion range, with DCF per share at the midpoint of $5.50 to $5.90 [4]. - Enbridge reaffirmed its 2023–2026 compound annual growth rate (CAGR) outlook of 7% to 9% for EBITDA, 4% to 6% for adjusted EPS, and approximately 3% for DCF per share, with post-2026 growth expected at around 5% for EBITDA, EPS, and DCF per share [4]. - The company expects about $8 billion in new projects to enter service in 2026, supported by low-risk commercial frameworks, and anticipates strong growth from recent rate settlements in Gas Distribution and Gas Transmission [4]. Group 4: Recent Earnings Results - In the latest earnings report, the company reported third-quarter adjusted EPS of 33 cents, which fell short of the estimated 39 cents, and revenue of $10.633 billion, below the consensus of $10.860 billion [5]. - Enbridge shares experienced a slight increase of 0.35%, reaching $48.29 at the time of publication [5].

Core Viewpoint - Guggenheim maintains a Buy rating and a $125 price target on Dollar General, indicating confidence in the stock's future performance despite its recent outperformance [1]. Group 1: Stock Performance and Valuation - Dollar General shares have significantly outperformed this year, driven by EBIT recovery linked to lower shrink expenses, yet the stock is still trading at a reasonable 8.2x Guggenheim's 2026E EBITDA estimate [2]. - The firm believes that upcoming developments, such as potentially strong third-quarter results and a raised full-year outlook, will support further upside [2]. Group 2: Earnings Expectations and Challenges - Guggenheim views Street expectations for 2026 earnings as conservative, especially with the potential for easing LIFO and interest expenses, as well as a reduced share count, even with a mostly flat EBIT margin [3]. - The firm recognizes challenges in achieving Dollar General's long-term EBIT margin target of 6%–7%, particularly after shrink normalizes in the first half of 2026 [3]. - Despite these challenges, Guggenheim retains its Buy rating until near-term catalysts are fully realized [3].

Core Insights - Serabi Gold plc reported strong financial and operational performance for the nine months ending September 30, 2025, with significant increases in gold production and profitability compared to the same period in 2024 [6][8][11]. Financial Performance - Gold production increased by 19% year-on-year, totaling 32,634 ounces compared to 27,499 ounces in 2024 [5][10]. - EBITDA rose by 95% to $48.2 million from $24.7 million in the previous year [5][11]. - Cash inflow from operations reached $34.3 million, an 88% increase from $18.2 million in 2024 [5][10]. - Earnings per share (EPS) increased by 96% to 46.10 cents from 23.55 cents in 2024 [5][10]. - The All-In Sustaining Cost (AISC) averaged $1,816 per ounce, a slight increase of 1% from $1,790 per ounce in 2024 [5][10]. Cash and Balance Sheet - The company ended the quarter with a cash balance of $38.8 million, up from $22.2 million at the end of 2024 [7][10]. - Net cash at the end of Q3-2025 was $33.0 million, compared to $16.2 million at the end of 2024 [12][10]. - Total revenue for the nine-month period was $104.5 million, compared to $70.3 million in 2024 [14]. Operational Highlights - Exploration and resource development drilling continued, with approximately 27,937 meters completed year-to-date, supporting the goal of increasing resources to the 1.5-2.0 million ounces range [9][11]. - The ore sorter at Coringa has been operational for nine months, processing low-grade ore and contributing to higher-than-expected gold production [13]. Future Outlook - The company remains on track to meet full-year guidance and is well-positioned for continued growth into 2026, supported by strong cash generation and a solid balance sheet [11].

Core Viewpoint - Tenet Healthcare reported strong Q3 2025 earnings, with adjusted EPS of $3.70, exceeding estimates by 11.1% and showing a year-over-year increase of 26.3% [2][3]. Financial Performance - Net operating revenues for Q3 2025 reached $5.3 billion, a 3.2% increase year over year, surpassing consensus estimates by 1% [2][3]. - Adjusted net income rose to $328 million, reflecting a 16.3% year-over-year growth [4]. - Adjusted EBITDA improved by 12.4% year over year to $1.1 billion, exceeding estimates [4]. - Total operating costs increased by 8.9% year over year to $4.5 billion, primarily due to higher supplies expenses [5]. Segment Performance - **Hospital Operations and Services**: - Net operating revenues were $4 billion, up 0.7% year over year, driven by improved same-hospital admissions and a favorable payer mix [6]. - Adjusted EBITDA for this segment climbed 12.6% year over year to $607 million [7]. - **Ambulatory Care**: - Net operating revenues increased by 11.9% year over year to $1.3 billion, supported by facility buyouts and service line expansions [8]. - Adjusted EBITDA reached $492 million, a 12.1% year-over-year increase [9]. Financial Position - As of September 30, 2025, Tenet had cash and cash equivalents of $3 billion, a decline of 1.5% from the end of 2024 [10]. - Total assets increased to $29.4 billion from $28.9 billion at the end of 2024 [10]. - Long-term debt slightly increased to $13.1 billion, while total shareholders' equity decreased by 3.8% to $4 billion [11]. Share Repurchase and Outlook - In Q3 2025, Tenet repurchased shares worth $93 million, with an authorization of approximately $1.7 billion remaining [12]. - The company raised its 2025 revenue outlook to $21.15-$21.35 billion, indicating a 2.8% growth from 2024 [13]. - Adjusted EBITDA is now expected to be between $4.47 billion and $4.57 billion, reflecting a 13% growth from 2024 [15]. Industry Context - Tenet is part of the Zacks Medical - Hospital industry, where Universal Health Services reported a 13.4% year-over-year revenue increase in its latest quarter [22]. - Universal Health Services has a Zacks Rank 1 (Strong Buy), contrasting with Tenet's Zacks Rank 3 (Hold) [20][23].

Core Viewpoint - Universal Health Services (UHS) has shown strong performance in its recent earnings report, with significant growth in earnings and revenues, leading to an upward revision of its financial guidance for 2025 [3][11]. Financial Performance - UHS reported Q3 2025 adjusted earnings per share (EPS) of $5.69, exceeding the Zacks Consensus Estimate by 22.1% and reflecting a year-over-year increase of 53.4% [3]. - Net revenues reached $4.5 billion, marking a 13.4% year-over-year improvement and surpassing the consensus estimate by 4.2% [3]. - Adjusted EBITDA rose 27.4% year over year to $670.6 million, exceeding the estimate of $577.4 million [5]. Segment Performance - In Acute Care Hospital Services, adjusted admissions grew 2% on a same-facility basis, with net revenues improving 12.8% [6]. - Behavioral Health Care Services saw adjusted admissions increase by 0.5%, with net revenues rising 9.3% on a same-facility basis [7]. Operational Costs - Total operating costs for the quarter were $4 billion, an 11% increase year over year, driven by higher salaries, wages, and benefits [5]. Financial Position - As of September 30, 2025, UHS had cash and cash equivalents of $112.9 million, down 10.4% from the end of 2024 [8]. - Long-term debt decreased by 11.5% year over year to $4 billion, while total equity increased by 7.1% to $7.2 billion [9]. Share Repurchase Program - UHS repurchased shares worth approximately $234.3 million in Q3 and approved a $1.5 billion increase to its stock repurchase program, bringing the total remaining authorization to $1.8 billion [10]. Revised Guidance - The company revised its 2025 net revenue guidance to a range of $17.306-$17.445 billion, indicating a projected growth of 9.8% from 2024 [11]. - EPS is now expected to be between $21.50 and $22.10, reflecting a 31.2% growth from the previous year [12]. Market Outlook - Estimates for UHS have been trending upward, and the stock currently holds a Zacks Rank 2 (Buy), suggesting an expectation of above-average returns in the coming months [15].

Core Insights - The Company reported significant growth in profit and turnover for the first nine months of 2025 compared to the same period in 2024 [2][3] Financial Performance - The profit for the Company in the first nine months of 2025 amounted to EUR 9,749 thousand, a substantial increase from EUR 954 thousand in the same period of 2024 [2] - The turnover from sales for the Company reached EUR 64,393 thousand, up from EUR 52,961 thousand in the first nine months of 2024 [2] - The Group, which includes the Company and its subsidiary UAB GO Energy LT, reported a profit of EUR 9,775 thousand for the first nine months of 2025, compared to EUR 741 thousand in 2024 [2] - The Group's turnover from sales was EUR 64,732 thousand, an increase from EUR 53,329 thousand in the same period of 2024 [2] EBITDA Analysis - The Company's EBITDA for the first nine months of 2025 was EUR 16,766 thousand, significantly higher than EUR 8,048 thousand in the same period of 2024 [3] - The Group's EBITDA for the first nine months of 2025 was EUR 16,788 thousand, compared to EUR 8,078 thousand in 2024 [3]

Core Viewpoint - Oceaneering International reported strong third-quarter earnings for 2025, with adjusted profits and revenues exceeding estimates, driven by robust performance across multiple segments [2][3][12]. Financial Performance - Adjusted profit for Q3 2025 was 55 cents per share, surpassing the Zacks Consensus Estimate of 42 cents and the previous year's 36 cents [2]. - Total revenues reached $742.9 million, exceeding the estimate of $710 million and reflecting a 9.3% increase from $679.8 million in the prior year [3]. - Adjusted EBITDA for the quarter was $111.1 million, marking a 13.2% year-over-year increase [3]. Segment Performance - **Subsea Robotics**: Revenues were $218.8 million, slightly up from $215.7 million year-over-year but below the estimate of $226.4 million. Operating income was $65.1 million, down from $65.7 million a year ago [5][6]. - **Manufactured Products**: Revenues increased to $156.4 million from $143.7 million, exceeding the estimate of $152.8 million. Operating profit rose to $24.7 million from $11.3 million [7]. - **Offshore Projects Group**: Revenues grew by 15.9% to $171 million, surpassing the estimate of $147.7 million. Operating income was $23.7 million, up from $20.3 million [8][9]. - **Integrity Management & Digital Solutions**: Revenues decreased to $70.8 million from $73.6 million, missing the estimate of $73.7 million. Operating income increased to $2.8 million from $0.7 million [9][10]. - **Aerospace and Defense Technologies**: Revenues rose to $125.9 million from $99.2 million, exceeding the estimate of $109.4 million. Operating income increased to $16.6 million from $12.2 million [10][11]. Capital Expenditure and Balance Sheet - Capital expenditure for Q3 2025 totaled $31.4 million. As of September 30, the company had cash and cash equivalents of $506 million and long-term debt of approximately $486 million, resulting in a debt-to-total capital ratio of 34.7% [12]. Outlook - The company anticipates lower revenues in Q4 2025 compared to the same period in 2024, with consolidated EBITDA expected to be between $80 million and $90 million [13]. - For the full year 2025, adjusted EBITDA is projected to be between $391 million and $401 million, with free cash flow expected to remain strong [18]. - The company expects continued share repurchase activity and stable ROV utilization in Subsea Robotics, along with improved operating income in Manufactured Products despite lower revenues [19][20].

Core Insights - Post Holdings, Inc. reported fourth-quarter fiscal 2025 results with net sales in line with estimates and adjusted earnings exceeding expectations, both metrics showing year-over-year growth [1][2] Financial Performance - Adjusted earnings per share were $2.09, surpassing the Zacks Consensus Estimate of $1.92, and increased from $1.53 in the same quarter last year [2] - Net sales reached $2,247 million, an 11.8% increase year over year, including $249.4 million from acquisitions; excluding acquisitions, growth was offset by declines in Post Consumer Brands [3] - Gross profit was $602.1 million, a 4.6% year-over-year increase, while gross margin contracted to 26.8% from 28.6% [3] - SG&A expenses rose 2.5% to $350.1 million, representing 15.6% of net sales compared to 17% in the prior year; included $14.4 million in integration costs related to acquisitions [4] - Operating profit decreased 11.8% to $168.4 million, while adjusted EBITDA increased 22% to $425.4 million from $348.7 million in the previous year [4] Segment Performance - **Post Consumer Brands**: Net sales of $1,158.8 million, up 10.6% year over year, but missed estimates; volumes declined 11.5% excluding contributions from 8th Avenue [5] - **Weetabix**: Net sales of $145 million, up 3.6% year over year, exceeding estimates; volumes decreased 2.9% [6] - **Foodservice**: Net sales grew 20.4% to $718 million, beating estimates; segment profit surged 63.7% to $128.2 million [7] - **Refrigerated Retail**: Net sales of $228.2 million, up 0.8% year over year, but below estimates; segment profit rose 82.8% to $23.4 million [8] Future Outlook - For fiscal year 2026, Post Holdings expects adjusted EBITDA in the range of $1,500-$1,540 million, including contributions from 8th Avenue's pasta business; capital expenditures projected between $350 million and $390 million [9][12] - The company plans continued investment in cage-free egg facility expansion and completion of a precooked egg facility expansion in Norwalk, Iowa, totaling $80-$90 million [12] Share Repurchase Activity - In Q4, Post Holdings repurchased 2.5 million shares for $273.8 million; total repurchases for fiscal 2025 amounted to 6.4 million shares for $708.5 million [11]

Group Performance Summary - The Grigeo Group AB achieved a consolidated sales turnover of EUR 173.0 million over the first nine months of 2025, an increase of EUR 14.9 million compared to the same period in 2024 [1] - The Group reported a profit before taxes of EUR 15.4 million, which is EUR 1.2 million less than in the same period in 2024 [2] - EBITDA for the Group increased by EUR 1.0 million to reach EUR 24.7 million compared to the first nine months of 2024 [2] Financial Performance Indicators - Revenue for the first nine months of 2025 was EUR 173.0 million, reflecting a 9% increase from EUR 158.2 million in 2024 [2] - EBITDA rose to EUR 24.7 million, marking a 4% increase from EUR 23.7 million in the previous year [2] - Profit before tax (EBT) decreased by 7% from EUR 16.7 million in 2024 to EUR 15.4 million in 2025 [2]