Core Viewpoint - Elanco Animal Health is entering a new phase focused on sustainable growth, margin expansion, and a stronger balance sheet, as outlined during its first Investor Day in five years [1] Financial Outlook - Elanco projects mid-single-digit organic revenue growth, high-single-digit adjusted EBITDA growth, and low-double-digit adjusted EPS growth starting in 2026 [2] - The company anticipates free cash flow of at least $1 billion from 2026 to 2028, with net leverage expected to fall below 3x in 2027, targeting a long-term range of 2.0x to 2.5x [2] R&D Investments - Elanco plans to expand R&D operations in Indianapolis and increase its U.S.-based manufacturing footprint, including investments in its Kansas monoclonal antibody facility [3] - The company expects approximately $1.1 billion in revenue from its innovation portfolio in 2026, an increase from prior expectations for 2025 [4] - Elanco has expanded its focus to eight innovation areas and added two new internal development platforms in monoclonal antibodies and immunotherapy [4] - More than 10 major pipeline programs are in place, with approvals expected for five to six differentiated assets between 2026 and 2031 [5] Cost Initiatives - Elanco detailed its Ascend productivity initiative, expecting $25 million in savings in 2026 and $60 million in 2027, affecting 600 roles through reductions or shifts [6] - A related charge of approximately $175 million is anticipated, with the Ascend program expected to deliver $200 to $250 million in adjusted EBITDA savings by 2030, achieving about 30% of this in 2026 [6] Analyst Insights - Analysts noted initial details on over 15 projects in key areas, including five to six blockbusters, positioning Elanco for three waves of innovation over the next decade [9] - If Elanco successfully executes its pipeline, it is expected to deliver upside to its long-term financial targets [9] - Elanco shares were trading at 21 times the 2026 EPS estimate, with an Outperform rating maintained by analysts [10]

Core Insights - Granite has been awarded a $24 million contract by the Riverside County Transportation Commission to transform the Perris South Metrolink Station and Layover Facility Project, aimed at improving service reliability and addressing increased commuter demand [1][2] Project Overview - The current single-track terminus of the Perris South station faces operational constraints that limit train movements and create service bottlenecks, necessitating the transformation into a high-capacity hub [2] - The project will enhance rail capacity and reliability, providing a viable alternative to congested freeway corridors, thereby reducing greenhouse gas emissions and supporting sustainable growth in the Inland Empire [3] Strategic Importance - This initiative represents a significant strategic win for Granite, reinforcing its commitment to expanding in the rail end market and the Inland Empire region [3] - The project builds on Granite's successful partnership with RCTC and Metrolink, leveraging the company's strengths in heavy civil construction and rail [3] Key Project Features - The addition of a second passenger platform and approximately 1,100–1,200 feet of new station track will enable two trains to load/unload simultaneously [5] - The existing platform will be extended to accommodate eight-car Metrolink trains, with upgrades to passenger amenities including canopies and electronic displays [5] - New pedestrian safety enhancements will be introduced, including an at-grade crossing with active warning gates and flashing lights [5] - The layover facility will be expanded to add a fourth layover track and new switching infrastructure, improving operational flexibility [5]

Company Overview and Strategy - ONEOK has a ~60,000-mile pipeline network and strategically located assets [5, 11] - The company's business model is approximately 90% fee-based, providing resilient earnings [6] - ONEOK aims for 3%-4% annual dividend growth with a payout ratio of ~85% or lower [33] Financial Performance and Synergies - The adjusted EBITDA guidance range for 2025 is $80 billion to $845 billion [14, 26] - ONEOK returned approximately $25 billion to shareholders in 2024 through dividends and share repurchases [34] - Magellan synergies are expected to exceed $350 million by the end of 2025 [28] - EnLink and Medallion synergies are expected to exceed $125 million by the end of 2025 [30] Operational Highlights and Growth Projects - Natural Gas Liquids segment expects 2025 earnings to be >90% fee based with >12 million bpd fractionation capacity [47] - Refined Products and Crude segment expects 2025 earnings to be ~90% fee based [63] - The company is developing a 400,000 bpd LPG export terminal in Texas City, with expected completion in early 2028 [35, 57]

Elanco Investor Day Summary Company Overview - **Company**: Elanco Animal Health - **Event**: 2025 Investor Day - **Focus**: Sustainable growth, innovation, and financial outlook Key Industry Insights - **Animal Health Market**: - Current size: $42 billion, projected to grow to $60 billion in the next decade [13] - Pet market projected to reach $24 billion by 2030, driven by parasiticides [43] - Farm animal market expected to grow to $27 billion, with poultry as a major driver [44] Core Company Strategies - **Sustainable Growth**: - Commitment to mid-single-digit constant currency revenue growth [8] - Focus on innovation with a commitment of $1.1 billion for the next year, aiming to double by 2028 [9][30] - **Innovation Pipeline**: - Introduction of five to six potential blockbusters between 2026 and 2031 [10] - Emphasis on a diverse portfolio with a strong pipeline of new products [30] - **Financial Goals**: - Targeting high single-digit adjusted EBITDA constant currency revenue growth starting in 2026 [11] - Projecting $1 billion in cash flow creation over the next three years [12] Market Trends and Drivers - **Pet Market Trends**: - Increased willingness of pet owners to spend on pet care [17] - Growing decision-making power of pet owners, necessitating CRM data and accessibility [18] - Shift towards omnichannel approaches to reach consumers [19] - **Farm Animal Market Trends**: - Focus on ruminants and poultry due to their durability and growth potential [21] - Emphasis on disease prevention and food safety as key growth areas [22] Financial Performance and Projections - **Recent Performance**: - Nine consecutive quarters of growth, with a stable base business now flat [46] - **Future Projections**: - Anticipated growth from the "Big Six" products, with significant contributions expected by 2026 [47] - Continued expansion in both pet and farm animal segments, leveraging existing strengths [50] Leadership and Organizational Structure - **Executive Team**: - Experienced leadership with a focus on innovation and market growth [36] - Commitment to employee engagement and performance management linked to financial outcomes [40] Additional Insights - **Restructuring Initiatives**: - Recent restructuring aimed at increasing efficiency and capacity [32] - Strategic partnerships and collaborations to enhance product offerings and market reach [55] - **Regulatory Engagement**: - Ongoing constructive dialogue with USDA for product approvals and market entry [34] Conclusion - Elanco is positioned for sustainable growth through a robust innovation pipeline, strategic market engagement, and a commitment to financial discipline. The company aims to leverage its strengths in both the pet and farm animal markets to capture significant growth opportunities in the coming years.

Defining Elanco's New Era of Growth December 9, 2025 1 Introduction Tiffany Kanaga VP Investor Relations & ESG 2 Notices and Disclaimers Forward-Looking Statements. This presentation contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, statements concerning product launches and revenue from such products, our 2025 full year and fourth quarter guidance, long-term expectations, our expectations regarding debt levels, and expectations regarding o ...

Core Insights - Elanco Animal Health is entering a new era of sustainable growth and long-term value creation, emphasizing its Innovation, Portfolio, and Productivity (IPP) strategy to achieve mid-single digit organic revenue growth and adjusted EBITDA margin expansion [1][2] Financial Outlook - Elanco has outlined a three-year financial outlook starting in 2026, projecting mid-single digit organic constant currency revenue growth, high-single digit adjusted EBITDA growth, and low double-digit adjusted EPS growth [4][5] - The company anticipates a net leverage ratio improvement to below 3x by 2027, with a long-term target of 2.0x to 2.5x [4][5] - Expected innovation revenue contribution is approximately $1.1 billion in 2026, with plans to double revenue from 'Big 6' blockbuster products by 2028 [4][13] Innovation Strategy - Elanco is developing over 10 major innovation products, with 5-6 blockbuster-potential approvals expected between 2026 and 2031 [4][11] - The company has two in-house technology platforms focused on monoclonal antibody discovery and immuno-therapeutics, enhancing its innovation pipeline [4][11][12] - The anticipated launch of Befrena™, an injectable monoclonal antibody for canine dermatitis, is expected in the first half of 2026 [7][10] Operational Efficiency - Elanco's Elanco Ascend program aims to generate $200 to $250 million in adjusted EBITDA savings by 2030, with approximately 30% of these savings expected in 2026 [17][18] - The company plans to restructure its operations, including the closure of its German animal R&D facility and a targeted reduction in its manufacturing workforce, impacting around 600 roles [16][18] Market Position - Elanco holds leading positions in U.S. Pet Health and global markets for poultry, beef, and swine, positioning itself for sustained growth [13] - The company is committed to investing in U.S. operations, including expanding its R&D presence and manufacturing capabilities [3][9]

Core Insights - Cadeler A/S has announced the addition of a second unsecured green corporate term loan facility amounting to EUR 60 million, with a non-committed accordion option of up to EUR 80 million, aimed at strengthening its financial position [1][2][3] Financial Position - The Green Corporate Loan Facility has a tenor of up to five years and was arranged by HSBC and Clifford Capital, with both acting as lenders [2] - The facility will be utilized for general corporate purposes, enhancing Cadeler's balance sheet and financial flexibility, allowing the company to navigate market dynamics and support strategic priorities [3] Company Overview - Cadeler A/S is a global leader in offshore wind installation, operations, and maintenance services, focusing solely on the offshore wind industry [4] - The company operates the largest fleet of jack-up offshore wind installation vessels and has been a key supplier in offshore wind energy development for over a decade [4] - Cadeler is committed to sustainable growth and enabling the global energy transition towards renewable energy [4]

Core Insights - The company reported a strong set of results for the first half of FY '26, achieving like-for-like sales growth of 4.1% despite cost inflation and consumer uncertainty [2] - Underlying profit before tax (PBT) reached GBP 21.2 million, showing a slight increase compared to the previous year, alongside a strengthening balance sheet with net cash increasing from GBP 8.5 million to GBP 18.6 million [2] Financial Performance - The financial performance for the first half of FY '26 indicates resilience in the face of economic challenges, with a notable sales growth figure [2] - The increase in underlying PBT reflects effective cost management and operational efficiency [2] Strategic Direction - The company has made significant progress on its strategic priorities and plans to share detailed insights on its strategic direction and sustainable growth initiatives in a separate presentation [2][3] - There will be opportunities for stakeholders to ask questions regarding both the interim results and the strategic direction of the company [3]

Financial Performance Highlights - Profit Attributable to Owners of Parent reached JPY 689.9 billion in FY25 H1, with a progress of 67% against the July outlook[7] - The company is revising its FY25 earnings outlook upward to JPY 1,130 billion, an increase of JPY 110 billion compared to the July outlook and JPY 190 billion compared to the May outlook[7] - Consolidated Net Business Profits increased by 4.7% year-over-year, reaching JPY 729.9 billion, with Customer Groups contributing JPY 511.8 billion and Markets contributing JPY 203.0 billion[9, 12] - The company announced an additional share buyback of JPY 200 billion, bringing the total for FY25 to JPY 300 billion[8] Balance Sheet Overview - Total Assets reached JPY 288 trillion, an increase of JPY 5.4 trillion[22] - Loans amounted to JPY 94 trillion, while Deposits/NCDs reached JPY 174 trillion[22] - Securities totaled JPY 38 trillion, including JGBs at JPY 11.4 trillion and Foreign Bonds at JPY 16.9 trillion[22] Capital and Regulatory Ratios - The CET1 Capital Ratio stood at 13.70%[51] - Total Capital reached JPY 13,662.3 billion[51] - The Leverage Ratio was 5.07%[53] Earnings Outlook and Shareholder Returns - The revised outlook for Consolidated Net Business Profits is JPY 1,350 billion[55] - The revised outlook for Profit Attributable to owners of Parent is JPY 1,130 billion[55] - The annual cash dividend is estimated at JPY 145.00 per share[56, 57]

Core Insights - Golden Triangle Ventures, Inc. reported a pivotal Q3 2025 with significant revenue growth, improved profitability, and strengthened shareholder equity, driven by a comprehensive restructuring under new leadership [1][2]. Financial Performance - Total revenue for Q3 2025 reached $2,051,088, with construction revenue contributing $1,511,140 and gross profit at $1,711,097 [7]. - The company achieved a net income of $1,007,767, a substantial recovery from a net loss of $(388,921) in Q3 2024, and year-to-date net income of $1,020,055 compared to a loss of $(1,370,669) in the prior year [7]. - Total assets increased to $22.3 million, up from $14.5 million at year-end [3]. Operational Highlights - The company acquired Deep South Electrical Contractors, projected to exceed $10 million in revenue for 2026 [4]. - Launched GoldenEra Development, securing a $750,000 development contract in Austin [8]. - Acquired Go Fast Sports in a non-dilutive transaction, forming the core of the consumer division [8]. - Restructured over $7.3 million in legacy debt and streamlined its corporate structure by dissolving non-core subsidiaries [8]. Strategic Focus - The company aims to strengthen its balance sheet and advance its consumer brands and beverage initiatives [9]. - Future priorities include sustainable, shareholder-driven growth built on a healthier and more disciplined platform [10]. - The commitment to long-term value, transparency, and operational excellence is emphasized by the CEO [6]. Company Overview - Golden Triangle Ventures, Inc. is a diversified holding company focused on consumer and manufacturing brands, with a mission to build high-performance businesses that generate sustainable growth and long-term shareholder value [11].