Core Insights - Fluence Energy, Inc. is a prominent player in the energy storage solutions sector, competing with major companies like Tesla and Siemens [1] - The upcoming quarterly earnings report on November 24, 2025, is highly anticipated, with analysts estimating an earnings per share (EPS) of $0.13 and projected revenue of approximately $1.39 billion for the quarter ending September 2025 [1][2] Financial Performance - Despite the expected revenue increase, Fluence Energy is anticipated to report a decline in earnings, with a consensus EPS estimate of $0.13 [2] - The company has a debt-to-equity ratio of 1.01, indicating a slightly higher level of debt than equity, but maintains a current ratio of 1.64, reflecting good liquidity to cover short-term liabilities [3] Market Position - Fluence Energy's performance in the renewable energy sector is closely monitored, as its ability to manage and optimize energy use through its products and services positions it as a key player in the market [2] - The upcoming earnings report is crucial for investors to assess Fluence Energy's market position and financial health, especially as the renewable energy sector continues to evolve [3]

Financial Data and Key Metrics Changes - The company reported a 30% year-over-year increase in adjusted earnings per share from continuing operations, reaching a record $2.32 per share [4][10] - Adjusted EBIT margin expanded by 100 basis points to 23.9% [10] - Sales for the quarter were $353 million, representing a 29% growth, with organic growth at 8% [10][15] Business Line Data and Key Metrics Changes - Aerospace and Defense (A&D) segment saw orders grow by 60% on a reported basis and 12% organically, with sales increasing by 72% to just over $170 million [11] - Utility Solutions Group experienced 17% growth in orders, driven by Doble, while sales growth was muted at 2% [13] - The test business reported a 10% revenue growth, ending the year with a backlog of $187 million, up nearly 20% compared to the previous year [14] Market Data and Key Metrics Changes - Organic sales for the Navy market increased by 53% in the quarter and 24% year-over-year, reflecting strong demand for submarines [6] - Aerospace revenue was up over 10% in the quarter and 14% year-over-year, driven by increased production rates from Boeing [7] Company Strategy and Development Direction - The company aims to focus on the aerospace and Navy end markets, which present durable, long-term growth opportunities [5] - The successful acquisition of Maritime and divestiture of VACO are pivotal steps in the evolution of the company's portfolio [4] Management's Comments on Operating Environment and Future Outlook - Management remains positive about the long-term outlook for both aircraft and Navy markets, expecting increasing production rates to drive growth [6] - The company anticipates another strong financial year in 2026, with reported sales growth projected in the range of 16%-20% [17] Other Important Information - The company achieved record performance in 2025 across all key metrics, with orders exceeding $1.5 billion, a growth of over 56% [15] - Operating cash flow for the year was just over $200 million, significantly up from nearly $122 million in the prior year [16] Q&A Session Summary Question: Context on growth rates and margin trends at the segment level - Management provided guidance of 6%-8% growth for A&D, 6%-8% for Doble, and 3%-5% for test, with expected margin improvements across all segments [21] Question: Update on the integration of SM&T - The integration is on plan, with the Maritime business performing ahead of expectations, and positive new order activity noted [22] Question: Details on $200 million in ESCO maritime orders - The orders are associated with U.K. submarine-related programs, expected to generate revenue over two years [27][29] Question: Headwinds from canceled flights affecting aerospace - Management indicated no significant impact from recent shutdowns, with strong growth expected in aircraft manufacturing [30] Question: Insights on the energy business and potential inflection points - Management noted a potential downturn in the renewables market due to expiring tax credits but expects a return to normal growth rates in 2027 [39][41] Question: Capital allocation priorities moving forward - The company is focused on M&A opportunities within aerospace, navy, or utility markets, emphasizing disciplined investment strategies [42][43]

Financial Data and Key Metrics Changes - In Q4 FY2025, net sales reached $752 million, exceeding the previous outlook, with adjusted EBITDA of $71 million, impacted by one-time inventory adjustments and non-routine items [7][11][14] - For the full year, net sales totaled $2.9 billion, with adjusted EPS at $6.05 and adjusted EBITDA of $386 million [13][14] - The company reported a net loss of $54 million in Q4, including a $19 million non-cash goodwill impairment charge and a $67 million impairment charge related to HDPE assets [11][12] Business Line Data and Key Metrics Changes - Organic volume growth was 1.4% in Q4, with significant contributions from plastic pipe conduit and finished products, particularly PVC, fiberglass, and HDPE, all showing double-digit growth [7][8] - The electrical segment generated net sales of $519 million, with organic volume growth contributing $7 million, while the S&I segment saw a 4% increase in net sales compared to the prior year [15][16] Market Data and Key Metrics Changes - The company anticipates mid-single digit volume growth in FY2026, driven by expected growth across all product areas, particularly in construction end markets such as data centers and renewable energy [10][17] - The demand for electricity is projected to grow, with a compound annual growth rate of 2.6% through 2035, driven by the expansion of data centers and renewable energy adoption [19][20] Company Strategy and Development Direction - The board is exploring strategic alternatives, including a potential sale or merger of the entire company, to enhance focus on Atkore's core electrical infrastructure portfolio [4][5] - The company plans to divest non-core assets and close three manufacturing facilities to improve financial returns and focus on electrical products [6][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth in construction end markets for FY2026, particularly in data centers, healthcare, and renewable energy [10][19] - The company aims to generate strong cash flows and maintain a healthy balance sheet while focusing on shareholder value [9][18] Other Important Information - The company has achieved three consecutive years of organic volume growth, with a total volume increase of approximately 1% for FY2025 [8][14] - Cash flow generation remains a strength, with $144 million returned to shareholders through share repurchases and dividends [9] Q&A Session Summary Question: Guidance for fiscal 2026 and pricing dynamics - Management indicated that mid-single digit volume growth is expected, with potential pricing benefits due to sequential price increases in steel conduit and other products [26][28] Question: Strategic review and divestment magnitude - The board is considering various outcomes, including a full sale or continuing operations as is, with ongoing interest in the HDPE business [36][37] Question: Cost savings initiatives - Expected annualized cost reductions of $10 million-$12 million from the closure of three plants, with potential for further savings in the future [39][41] Question: Headwinds from imports and pricing - Management confirmed ongoing price versus cost headwinds, with a projected $50 million impact for 2026, but expects improvements in the second half of the year [48][49] Question: Impact of data centers on growth - Management acknowledged strong growth in data center-related products and expects significant contributions from global mega projects in the second half of the year [60][61] Question: Closing plants and production shifts - The company plans to shift production from closing plants to existing facilities without significant learning curves, focusing on electrical products [66][68] Question: Engagement with activists and board alignment - Management confirmed a cooperative relationship with activist investors and ongoing discussions about board refreshment [81][82]

中国"十五五"规划将为刚果（布）提供全新的经济与技术合作机遇。"十五五"规划建议把创新、现 代化产业体系和绿色转型放在重要位置，体现了中国经济发展模式向提升质量、科技自主等方向的转 变。这有望推动刚中长期合作关系的发展，特别是在能源、工业和基础设施等领域。 在"十五五"期间，中国将大力发展人工智能、可再生能源等领域，这将为刚果（布）承接技术转 移、发展本地制造业创造新的机遇。 新华社布拉柴维尔11月20日电（记者郑扬子）刚果（布）通讯社新闻网站日前播发对刚果（布）经 济分析与政策研究中心主任、经济学家沃尔夫·穆费雷的专访。文章认为，中国"十五五"规划将为刚中 合作开辟广阔前景。文章摘要如下： 此外，中国积极推进碳达峰碳中和，这也将有助于刚中两国在水电、太阳能等领域开展合作。相关 合作有望促进刚果（布）农村地区的电气化建设。 "十五五"规划建议还强调坚持开放合作，南南合作将为刚果（布）开辟新的融资渠道，推动其更好 地融入全球经济网络。 人才培养为刚中两国新一轮合作提供关键支撑。两国在技术培训、高校合作、建设联合科研中心等 方面的合作，将助力刚果（布）经济多元化发展。 ...

Yeah, good morning Juliana. Um, in terms of the rationale, China has become the largest market for chemicals. So, more than 40% of the global production manufacturing in chemicals happens in China.The China market is bigger than the US and Europe combined. Um, and more than half of the growth in the next 5 years will come from China alone. So for a chemical company, a leading global chemical company, you have to play in in China in order to win.>> Clearly, that's the the pull side as to why you'd want to um ...

王元丰 《联合国气候变化框架公约》（以下简称《公约》）第30次缔约方大会（COP30）正在巴西贝伦召开。 这次会议本来具有历史意义，因为今年是《巴黎协定》达成10周年。而且，1992年《公约》开放签字的 地点也是巴西。然而，此次会议却是在双重危机下召开的。 人类的气候危机正在加剧。2024年是有记录以来最热的一年，首次突破《巴黎协定》所设的"1.5℃"温 控目标；根据《巴黎协定》，各缔约方应在2025年提交下一轮国家自主贡献报告（NDC），据统计， 目前只有约125个缔约方进行了提交。另一个重要挑战是，美国政府不仅不派代表参会，还在不久前国 际海事组织（IMO）的一次会议上反对全球航运碳定价机制，并施压他国跟随。作为全球累计排放量最 大的经济体，华盛顿的"空椅子"直接影响到部分国家的出资与减排意愿，这被一些观察人士视为对多边 气候机制的"规则性阻挠"。 阴霾虽在，但数字与事实同样告诉我们：全球应对气候变化的战线仍然坚强存在。 美国"联邦空席"不等于"国家空场"。尽管美国联邦政府不参加，加州、新墨西哥州等通过"美国气候联 盟"联合组团出席COP30，并重申其2025年发布的共同目标——到2030年将成员州温室气 ...

NESTE预计在2025年4季度对鹿特丹工厂、12月对新加坡工厂均进行为期6周的检修。虽然近期我国SAF 出口白名单企业新增了三家，但从能出口到实现销售仍需要一段时间。截至10月，英国SAF添加比例为 1.6%，较2%的添加目标仍有差距。因此随着年底欧盟、英国对其2%的SAF添加比例进行核查, SAF供需 持续偏紧。新加坡民航局宣布自2026年4月起对所有从新加坡出发的航班乘客与货运征收"可持续航空燃 料(SAF)附加费"，并设立2026年SAF添加1%、2030年添加3%-5%的目标。 2026年，欧盟将逐步执行RED III法案，多数欧盟生产商可能会选择优先考虑生产HVO而不是SAF。中 国SAF成本优势显著，竞争力充足。进入2027年CORSIA要求成员国家强制推出SAF掺混比例，2050年 实现航空业净零排放。目前全球航空煤油需求3亿吨，假设2027年全球平均添加1%的SAF，再考虑欧 盟、英国添加2%的SAF，2027年SAF全球需求将达到300-400万吨。IATA预计2050年SAF全球需求达到4 亿吨。 生物柴油：欧盟可再生能源法案III执行及船燃加注增加，需求有望持续增加 智通财经APP获悉 ...

摘要 欧洲天然气价格预计在 2026 年降至 29 欧元，2027 年进一步降至 20 欧元。美国方面，预计到 2027 年底出口需求将增加 4.5 bcf/d，亨利港 2026 年价格预测为 4.60 美元，2027 年为 3.80 美元。新增 LNG 产能 将超过俄罗斯天然气供应缺口的两倍，主要来自美国和卡塔尔。 市场关注存储能力、电力建设和供需紧缩情况。过去 20 年存储设施建 设滞后导致短期存储能力成为主要问题。市场正在观望电力建设是否有 足够弹性支持基础设施建设。与六个月前相比，供需紧缩情况有所缓解， 但冬季天气仍是关键因素。 2025 年初欧洲天然气价格看涨，但因天气和欧盟放松储存规则而受阻。 CTA 交易者普遍持有空头头寸。第一季度供需可能偏紧，但长期看跌。 可再生能源发展，尤其是在中国，值得关注。冬季寒冷或地缘政治变化 可能产生重大影响。 全球政治格局变化和化石燃料消费量回升将推动亚洲地区的需求增长。 中国努力依靠自身煤炭和可再生能源发电，并计划在 2030 年前实现脱 碳，政策微调可能使天然气受益，对 LNG 市场产生影响。 Q&A 天然气的近期前景如何？当前市场关注的主要因素有哪些？ 未来 ...

我们，上海合作组织（以下简称"上合组织"）成员国领导人， 新华社天津9月1日电 上海合作组织成员国元首理事会关于进一步加强科技创新合作的声明 依据《上合组织宪章》《上合组织至2030年经济发展战略》《上合组织成员国政府间科技合作协定》目 标与原则， 认为在上合组织框架内进一步开展科技合作十分重要，是寻找新的创新增长点并推动各国国民经济向创 新方向转型，携手打造有利于上合组织区域内科技发展的良好环境，共同应对社会挑战的有效方案， 致力于互利平等合作，共同发展，共同探索合作新模式与渠道，提升创新潜力，深化科技创新合作。 我们特此声明： 成员国将基于自愿参与、互利合作的原则采取以下行动： ——加强现行科技创新政策沟通交流，发挥好上合组织成员国科技部长会议机制，促进科技领域的战略 沟通和务实协作； ——持续推进联合项目遴选工作，在优先领域推动启动创新性联合试点项目； ——密切创新领域人文交流，举办青年创新创业大赛、青年科学家大会和创业论坛、国际创新周、科学 会议、研讨会、圆桌会、科技成果展等活动； ——基于各国法律法规及互利原则，促进合作并探索建立机制，为成员国科研与创新基础设施和科技资 源开放共享提供可能的保障； ...

新浪财经ESG评级中心提供包括资讯、报告、培训、咨询等在内的14项ESG服务，助力上市 公司传播ESG理念，提升ESG可持续发展表现。点击查看【 ESG评级中心服务手册】 《联合国气候变化框架公约》（UNFCCC）缔约方第30次大会（COP30）目前在巴西北部城市贝伦召 开。会议期间，新浪财经与国际可再生能源署（IRENA）总干事弗朗西斯科·拉·卡梅拉（Francesco La Camera）进行了对话。 卡梅拉认为，国际可再生能源署10月发布的最新报告揭示了一个明确趋势：2024年全球新增可再生能源 装机容量达创纪录的582吉瓦，这意味着去年新增电力装机中有92%来自可再生能源。在他看来，我们 正加速迈向以可再生能源为主导的新型能源体系，这一体系将由绿色氢能和可持续生物质能作为重要补 充。这一进程已不可逆转，因为可再生能源的竞争力日益突出，已成为目前全球最具成本效益的电力生 产方式。 谈及中国的贡献，卡梅拉指出数据已经非常清楚——中国发挥了关键作用，主要体现在两个方面：一方 面，中国提供了低成本的太阳能电池板和风机叶片等技术，这加速了其他国家的能源转型；另一方面， 中国国内在可再生能源使用和投资方面的增长速 ...