Q3 & 9M 2025 Financial & Operating Results November 18, 2025 C3is Inc. 1 This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. For example, words such as "may," "will," "should," "estimates," "intends," and similar expressions are intended t ...

Core Insights - Navios Maritime Partners reported strong financial results for Q3 and the first nine months of 2025, with EBITDA of $193.9 million and $519.8 million, respectively, and net income of $56.3 million and $168.0 million [2][21][30] - The company has modernized its fleet, reducing the average age to 9.7 years, and increased contracted revenue to $3.7 billion, while decreasing net loan-to-value (LTV) to 34.5% [2][4][11] Financial Performance - Revenue for Q3 2025 was $346.9 million, a slight increase from $340.8 million in Q3 2024, while revenue for the first nine months of 2025 decreased to $978.6 million from $1,001.5 million in the same period of 2024 [22][29] - Earnings per common unit were $1.90 for Q3 2025 and $5.62 for the nine-month period [2][47] - Net cash from operating activities was $103.1 million for Q3 2025 and $381.3 million for the nine-month period [4][49] Debt and Financing - In October 2025, Navios Partners successfully placed $300 million of senior unsecured bonds, with proceeds intended for repaying secured debt and general corporate purposes [3] - The bonds will mature in November 2030 and carry a fixed coupon of 7.75% per annum [3] Fleet and Operations - As of November 12, 2025, Navios Partners repurchased 929,415 common units in 2025 for approximately $37.7 million [4][5] - The company has entered into new long-term charters expected to generate $745 million in revenue, contributing to a total contracted revenue of $3.7 billion through 2037 [11][12] - The fleet consists of 65 dry bulk vessels, 51 containerships, and 55 tankers, with a focus on modernizing and expanding the fleet [19][20] Market Position and Strategy - The company has maintained a strong risk management culture and diversified platform, which is expected to perform well in challenging market conditions [2] - The average expected daily charter-out rate for the fleet is projected at $24,871 for Q4 2025 and $27,088 for all of 2026 [20]

Core Insights - The InterGroup Corporation reported financial results for the three months ending September 30, 2025, indicating improved performance and alleviation of prior going-concern doubts for its subsidiary Portsmouth Square, Inc. following hotel refinancing [1] Financial Performance - Real estate revenues increased to $5,495,000, up 8.0% year-over-year from $5,086,000, with segment income from operations rising 20.1% to $3,157,000 from $2,629,000 [5] - Total hotel revenues reached $12,418,000, reflecting a 5.1% increase from $11,820,000, while operating expenses (excluding depreciation and amortization) rose 19.2% to $10,481,000 from $8,792,000 [7] - The company reported a GAAP net loss of $1,159,000, compared to a loss of $852,000 in the previous year, with a net loss attributable to InterGroup of $535,000, up from $398,000 [7][9] Key Performance Indicators - Hotel key performance indicators showed an average daily rate (ADR) of $218, a 3.8% increase year-over-year, with occupancy at 95%, down 1 percentage point, and revenue per available room (RevPAR) at $207, up 2.5% [7][11] - Marketable securities yielded a modest net gain of approximately $0.1 million, consistent with the company's focus on liquidity and disciplined risk management [6][8] Management Commentary - The CEO noted signs of stabilization and recovery in the San Francisco hospitality market, with improving convention calendars and tourism indicators [8] - The COO emphasized operational stability across the portfolio, focusing on leasing, recoveries, and expense control to support cash generation [8]

Financial Data and Key Metrics Changes - The company reported a recurring EBITDA of BRL 1.5 billion, reflecting a decrease of approximately 16.3% compared to the previous year [10] - The recurring net profit saw a significant drop of around 30.2%, influenced by increased depreciation from major investments and higher interest rates [12] - The company confirmed a triple-A rating from Moody's, indicating strong resilience in its financial position [4] Business Line Data and Key Metrics Changes - Distribution results were negatively impacted by large clients migrating to the basic network, affecting overall performance [4] - In the generation segment, the company faced challenges due to lower GSF (Generation Scaling Factor), necessitating energy purchases that resulted in a BRL 54 million impact [11] - The trading business experienced a reduction in margins, leading to a BRL 136 million impact on distribution [11] Market Data and Key Metrics Changes - The energy market experienced a drop of 4.4%, affecting all segments including rural, commercial, and industrial [18] - The company reported strong collection performance, particularly through digital channels and the PIX instant payment method [19] Company Strategy and Development Direction - The company is maintaining its largest investment program, with BRL 4.7 billion allocated for the quarter, focusing on distribution and substations [5][8] - Investments in regulated areas are expected to yield positive results in the future, particularly in tariff reviews [6] - The company aims to enhance service efficiency by insourcing employees and improving technology [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in the quarter but emphasized the company's resilience and commitment to its investment plan [4][8] - The CEO highlighted the importance of cautious investments and the favorable position in the trading business for future growth [6] Other Important Information - The company received recognition as the best energy company in Brazil by Vision Negócios and other awards for financial performance and sustainability [21] - The healthcare plan for retired employees was approved, contributing to the company's sustainability efforts [5] Q&A Session Summary Question: Inquiry about technical note 53 and its impact on loss reporting - The management clarified that the new method for calculating losses does not retroactively affect past calculations and that they remain within regulatory limits [24][25] Question: Question regarding trading strategy and energy balance changes - The Chief Trading Officer explained that the company is focused on closing positions rather than opening new ones, influenced by market conditions [26][27]

Financial Data and Key Metrics Changes - The company reported a recurring EBITDA of BRL 1.5 billion, reflecting a decrease of approximately 16.3% compared to the previous year [10] - The recurring net profit saw a significant drop of around 30.2%, influenced by increased depreciation from major investments and higher interest rates [12] - The company maintained a strong leverage ratio at 1.76, indicating safe levels of net debt over recurring EBITDA [16] Business Line Data and Key Metrics Changes - Distribution results were negatively impacted by large clients migrating to the basic network, leading to a decrease in revenue [4] - The trading business faced challenges, with a reported impact of BRL 136 million due to reduced margins and the need to close positions [11] - Generation was affected by a lower GSF, necessitating energy purchases that resulted in an impact of BRL 54 million [11] Market Data and Key Metrics Changes - The energy market experienced a drop of 4.4%, affecting all segments including rural, commercial, and industrial [18] - The company reported strong collection rates, particularly through digital channels, with a focus on the Pix payment method [19] Company Strategy and Development Direction - The company is committed to a significant investment program, with BRL 4.7 billion allocated for the first nine months of 2025, primarily focused on distribution and substations [5][8] - The strategy includes enhancing service efficiency through technology investments, such as smart meters and improved infrastructure [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience and ability to navigate challenging market conditions, supported by a triple-A rating from Moody's [4][8] - The management highlighted the importance of ongoing investments in regulated areas to ensure future revenue growth [6] Other Important Information - The company received recognition as the best energy company in Brazil by Vision Negócios and other awards for financial performance and sustainability [21] - A collective agreement with the union was finalized, ensuring the sustainability of the healthcare plan for retired employees [5] Q&A Session Summary Question: Inquiry about technical note 53 and its impact on loss reporting - The management clarified that the new method for calculating losses will not retroactively affect past calculations and that current losses remain within regulatory limits [24][25] Question: Question regarding trading strategy and energy balance changes - The Chief Trading Officer explained that the company is focused on closing positions rather than opening new ones, influenced by market conditions [26][27]

Financial Data and Key Metrics Changes - The company reported a recurring EBITDA of BRL 1.5 billion, reflecting a decrease of approximately 16.3% compared to the previous year [10] - The recurring net profit saw a significant drop of around 30.2%, influenced by increased depreciation, higher interest rates, and leverage [12] - The company confirmed its triple-A rating by Moody's, indicating strong resilience in various market scenarios [5] Business Line Data and Key Metrics Changes - Distribution results were negatively impacted by large clients migrating to the basic network, leading to a decrease in revenue [5] - The company invested BRL 4.7 billion in the first nine months of 2025, with BRL 3.6 billion allocated specifically for distribution [6][8] - In generation, the company faced challenges due to lower GSF, resulting in a BRL 54 million impact from energy purchases [11] Market Data and Key Metrics Changes - The energy market experienced a drop of 4.4%, affecting all segments including rural, commercial, and industrial [18] - The company reported strong collection rates, particularly through digital channels, with a focus on instant payment methods like PIX [19] Company Strategy and Development Direction - The company is maintaining its investment plan, focusing on regulated areas to ensure future revenue growth [7][8] - There is a strategic emphasis on closing positions in the trading business rather than opening new ones, reflecting a cautious approach to market exposure [26][27] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in the quarter but emphasized the company's resilience and ongoing investment strategy [4][5] - The management expressed confidence in the positive outcomes of their investment program and the expected tariff reviews [7][8] Other Important Information - The company received recognition as the best energy company in Brazil by Vision Negócios and other awards for financial performance and sustainability [21] Q&A Session Summary Question: Inquiry about technical note 53 and its impact on loss reporting - The management clarified that the new method for calculating losses will not retroactively affect past calculations and that they remain within regulatory limits [24][25] Question: Question regarding trading strategy and energy balance changes - The Chief Trading Officer explained that the company is focused on closing positions rather than opening new ones, influenced by market conditions [26][27]

Core Viewpoint - America Movil has shown a positive trend in its stock performance, with shares increasing by approximately 3.2% since the last earnings report, outperforming the S&P 500 [1][2]. Financial Performance - For Q3 2025, America Movil reported a net income per ADR of 40 cents, significantly up from 11 cents in the same quarter last year, exceeding the Zacks Consensus Estimate of 36 cents [3]. - The net income for the quarter was Mex$22,700 million, compared to a net loss of Mex$6,427 million in the prior year, with comprehensive financing costs decreasing by 54.5% to Mex$12,899 million [4]. - Total quarterly revenues rose by 4.2% to Mex$232,919 million, driven by growth in both Service and Equipment segments [5]. Subscriber Growth - America Movil gained 235,000 wireless subscribers in Q3, including 98,000 postpaid and 136,000 prepaid subscribers, with significant contributions from Brazil and Colombia [6]. Regional Performance - Colombia experienced a revenue increase of 5.9%, with mobile service revenue growth at 7.8% due to the strong performance of its 5G network [8]. - Argentina's revenues grew by 7% year over year, supported by a recovering economy and strong mobile service revenue growth of 12% [9]. - Central America saw a revenue increase of 10.8%, while other regions like Brazil and Peru also reported positive growth [10]. Cost and Profitability - Total costs and expenses increased by 3.8% to Mex$139,096 million, while EBITDA rose by 5.2% to Mex$93,823 million, maintaining an EBITDA margin of 40.3% [11]. - The operating profit increased by 5.6% to Mex$50.1 billion [12]. Liquidity Position - As of September 30, 2025, America Movil had Mex$96,588 million in cash and short-term investments, against long-term debt of Mex$463,103 million [13]. Market Sentiment and Outlook - There has been a significant upward trend in earnings estimates, with a consensus estimate shift of 152.94% [14]. - America Movil holds a Zacks Rank 2 (Buy), indicating expectations for above-average returns in the coming months [16].

Core Viewpoint - Conifex Timber Inc. reported a negative EBITDA of $16.5 million for Q3 2025, significantly impacted by a one-time noncash charge related to duty deposit underpayments on lumber exports to the U.S. [4] Financial Performance - The negative EBITDA of $16.5 million includes a one-time charge of $12 million; excluding this, the regular EBITDA was negative by just over $4.5 million [4] - The company wrote down its quarter-end inventories by $1.2 million, contributing to the negative EBITDA [4] - For the nine-month period, the regular EBITDA was negative by $2.8 million, showing a major improvement from a loss of $11.5 million in the same period the previous year [4]

Core Insights - The article provides a comprehensive analysis of Apple and its competitors in the Technology Hardware, Storage & Peripherals industry, focusing on financial metrics, market position, and growth prospects [1] Company Overview - Apple is one of the largest companies globally, with a diverse range of hardware and software products aimed at both consumers and businesses [2] - The iPhone constitutes the majority of Apple's sales, with other products like Mac, iPad, and Watch designed to complement the iPhone within a broader software ecosystem [2] - Nearly half of Apple's sales are generated through its flagship stores, while the majority comes from partnerships and distribution channels [2] Financial Metrics Comparison - Apple's Price to Earnings (P/E) ratio is 36.59, which is lower than the industry average by 0.68x, indicating potential value [6] - The Price to Book (P/B) ratio of 54.70 is significantly higher than the industry average by 5.68x, suggesting possible overvaluation based on book value [6] - The Price to Sales (P/S) ratio of 9.84 exceeds the industry average by 2.86x, which may also indicate overvaluation in terms of sales performance [6] - Apple's Return on Equity (ROE) stands at 39.36%, which is 30.38% above the industry average, reflecting efficient equity utilization for profit generation [6] - The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $35.55 billion is 68.37 times the industry average, indicating strong profitability and cash flow [6] - With a gross profit of $48.34 billion, Apple demonstrates profitability that is 49.33 times above the industry average [6] - The company is experiencing a revenue growth rate of 7.94%, outperforming the industry average of 7.5% [6] Debt to Equity Ratio - Apple's debt-to-equity (D/E) ratio is 1.34, indicating a moderate level of debt relative to its equity, suggesting a balanced financial structure [11] - The D/E ratio allows for a concise evaluation of Apple's financial health and risk profile in comparison to its peers [9]

Core Insights - Reading International, Inc. reported a total revenue of $52.2 million for Q3 2025, a decrease of 13% from $60.1 million in Q3 2024, primarily due to a less appealing movie slate and currency exchange rate impacts [6][10][4] - The company achieved a positive EBITDA of $3.6 million, marking a 26% improvement compared to $2.8 million in Q3 2024, and representing the fifth consecutive quarter of positive EBITDA [6][30] - The net loss attributable to Reading improved by 41% to $4.2 million in Q3 2025 from $7.0 million in Q3 2024, indicating better overall segment results and reduced interest expenses [6][5] Financial Performance - Total revenues for the first nine months of 2025 were $152.7 million, a slight increase of 1% compared to $152.0 million for the same period in 2024 [6] - The operating loss for the first nine months of 2025 was $4.3 million, an improvement of 72% from a loss of $15.6 million in the same period in 2024 [6] - Basic loss per share improved by 65% to $0.51 for the first nine months of 2025 compared to $1.48 for the same period in 2024 [6] Cinema Business - Cinema revenue for Q3 2025 was $48.6 million, down 14% from $56.4 million in Q3 2024, attributed to a less appealing movie slate and operational challenges [10][6] - The average ticket price in both Australia and New Zealand reached their highest third quarter ever, while the U.S. cinema division achieved its second highest third quarter average ticket price [10][6] - The cinema operating income decreased by 21% to $1.8 million from $2.2 million in Q3 2024, reflecting the overall challenges faced in the cinema business [10][6] Real Estate Business - Real estate revenue for Q3 2025 was $3.6 million, a slight decrease from $3.7 million in Q3 2024, while operating income remained relatively flat at $1.4 million [10][6] - The U.S. real estate revenues increased by 35% to $2.0 million due to improved performance from Live Theatre assets in NYC [10][6] - The company executed five third-party lease transactions during Q3 2025, maintaining a portfolio occupancy rate of 98% across its Australian and New Zealand properties [11][10] Debt and Liquidity - As of September 30, 2025, the company reduced its total gross debt by 14.8% to $172.6 million, primarily funded by the sale of two major property assets [19][12] - Cash and cash equivalents stood at $8.1 million, down from $12.3 million at the end of 2024 [19][12] - The company extended the maturity of several loans, including those related to its Live Theatre assets and bank loans, to improve liquidity [19][12]