Core Insights - Willis Towers Watson (WTW) reported second-quarter 2025 adjusted earnings of $2.86 per share, exceeding the Zacks Consensus Estimate by 8% and reflecting a 20% year-over-year increase [1][9] - The company's second-quarter results were bolstered by strong revenue from the Risk & Broking segment, improved EBITDA margin, and reduced expenses [1] Operational Update - WTW's adjusted consolidated revenues were $2.26 billion, flat year-over-year on a reported basis, but up 5% organically and 1% on a constant currency basis, beating the Zacks Consensus Estimate by 1.2% [2][9] - Total service costs decreased by 7.8% year-over-year to $1.9 billion, attributed to lower operating expenses, amortization, and transaction costs [2] Financial Performance - Adjusted operating income rose to $419 million, a 9% increase year-over-year, surpassing the estimate of $396.2 million, with a margin expansion of 150 basis points to 18.5% [3][9] - Adjusted EBITDA was $470 million, up 6% year-over-year, matching the estimate, with an EBITDA margin increase of 120 basis points to 20.8% [3][9] Segment Performance - Health, Wealth & Career segment revenues totaled $1.18 billion, down 6% year-over-year, impacted by the sale of TRANZACT, but organic growth was noted [4] - Wealth segment saw organic revenue growth driven by increased Retirement work globally and new business wins in Investments [5] - Career segment experienced modest revenue growth due to strong advisory demand outside North America, offset by client postponements in North America [6] - Risk & Broking segment revenues increased by 7% year-over-year to $1 billion, driven by new business activity and strong client retention [7][9] Financial Update - As of June 30, 2025, cash and cash equivalents were $1.9 billion, a 3.4% increase from the end of 2024, while long-term debt rose by 10.3% to $4.7 billion [10] - Shareholders' equity increased by 2% to $8.1 billion, and cash flow from operations was $326 million, down 24.3% from the prior year [10] - Free cash flow for the first half of 2025 decreased by 29% to $217 million, primarily due to increased compensation and cash tax payments [11] 2025 Outlook - WTW anticipates 100 basis points of average annual margin expansion over the next three years in Risk & Broking [12] - The company projects share repurchases of $1.5 billion, subject to market conditions and potential capital allocation opportunities [12] - A foreign currency tailwind on adjusted diluted earnings per share of approximately 5 cents is expected in 2025 at current rates [13]

Core Insights - Garmin Ltd. reported second-quarter 2025 pro forma earnings of $2.17 per share, exceeding the Zacks Consensus Estimate by 10.7%, and showing a 37% year-over-year improvement [1] - Net sales reached $1.81 billion, surpassing the Zacks Consensus Estimate by 4.4%, and increased by 20% compared to the same quarter last year [1] - The growth in net sales was driven by strong performance across the Outdoor, Fitness, Aviation, Marine, and Auto OEM segments [1] Segment Performance - **Outdoor Segment**: Contributed 27% of net sales with $490.4 million, an 11% year-over-year increase, primarily due to strong adventure watch sales. Operating income was $158 million with a 32% margin [2] - **Fitness Segment**: Accounted for 33.4% of sales, generating $605.4 million, reflecting a 41% year-over-year increase driven by demand for advanced wearables. Operating income was $198 million with a 33% margin [3] - **Aviation Segment**: Made up 13.7% of sales with $249.4 million, a 14% year-over-year increase, supported by OEM and aftermarket products. Operating income was $63 million with a 25% margin [4] - **Marine Segment**: Contributed 16.5% of sales at $299.3 million, up 10% year-over-year, led by chartplotters. Operating income was $63 million with a 21% margin [5] - **Auto OEM Segment**: Generated $170.2 million in sales, marking a 16% year-over-year increase, but reported an operating loss of $10 million with a 6% gross margin [6] Financial Overview - Gross profit increased by 24% year-over-year to $1.07 billion, with a gross margin improvement of 150 basis points to 58.8% [7] - Operating expenses rose 14% year-over-year to $595 million, while operating income increased by 38% to $472.3 million, with an operating margin expansion of 330 basis points to 26% [7] - As of June 28, 2025, Garmin held $2.59 billion in cash and marketable securities, down from $2.67 billion in the previous quarter [8] Guidance Update - Garmin raised its 2025 revenue guidance to $7.1 billion from $6.85 billion, indicating an 8.7% year-over-year increase [10] - Pro forma EPS guidance was increased to $8.00 from $7.80, reflecting a 7.9% year-over-year increase [11] - The company expects a gross margin of 58.5% and an operating margin of 24.8% for 2025, with an effective tax rate forecast raised to 17.5% [11]

Core Insights - Expand Energy Corporation (EXE) reported second-quarter 2025 adjusted earnings per share of $1.10, missing the Zacks Consensus Estimate of $1.14, but surpassing the year-ago adjusted profit of 1 cent due to strong production and higher natural gas prices [1][9] - The company's revenues from 'natural gas, oil and NGL' totaled $2 billion, falling short of the Zacks Consensus Estimate by $74 million, yet significantly higher than the year-ago figure of $378 million [2] Production & Price Realizations - Average daily production for the second quarter was 7,202 million cubic feet of gas equivalent (MMcfe/day), a 162% increase from the year-ago level of 2,745 MMcfe/day, exceeding the Zacks Consensus Estimate of 7,150 MMcfe/day [3][9] - Natural gas volume for the period was 6,596 MMcf/day, up 140% year over year, slightly below the consensus mark of 6,600 MMcf/day [3] - The average sales price for natural gas was $2.98 per Mcf, an 18.7% increase from the prior-year realization of $2.51 per Mcf, but below the consensus mark of $3.02 [4] Costs & Expenses - Total operating expenses rose to $2.4 billion from $799 million in the year-ago quarter, primarily due to a nearly threefold increase in gathering, processing, and transportation costs to $563 million [5] - Marketing costs also rose significantly to $791 million from $141 million year over year [5] Dividend and Share Repurchases - In the second quarter, the company returned a total of $448 million to shareholders through a quarterly base dividend of $137 million, a variable dividend of $211 million, and share repurchases totaling $100 million [6] Financial Position - Cash flow from operations totaled $1.3 billion, a significant increase from $209 million in the prior-year quarter, while capital expenditure was $657 million, resulting in a free cash flow of $665 million [7][9] - As of June 30, 2025, the company had $731 million in cash and cash equivalents and long-term debt of $5.1 billion, reflecting a debt-to-capitalization ratio of 22.2% [7] Guidance - Expand Energy is targeting an average daily production range of 7,150-7,250 MMcfe for the third quarter and 7,000-7,200 MMcfe for the full year 2025 [10] - The company has budgeted capital spending between $760 million and $840 million for the upcoming quarter, and between $2.9 billion and $3 billion for 2025 [10]

Core Viewpoint - Constellation Brands reported disappointing Q1 fiscal 2026 results, with both sales and earnings missing estimates, primarily due to weak consumer demand influenced by socioeconomic factors [3][4]. Financial Performance - Comparable earnings per share (EPS) for Q1 were $3.22, down 10% year over year, missing the Zacks Consensus Estimate of $3.38. Reported EPS was $2.90, a 39% decline year over year [4]. - Net sales fell 5.5% year over year to $2.52 billion, also missing the Zacks Consensus Estimate of $2.57 billion [4]. - The beer segment's sales decreased 2% year over year to $2.23 billion, with a shipment volume decline of 3.3% [5]. - The wine and spirits segment saw a significant sales drop of 28% year over year to $280.5 million, driven by a 30.4% decline in shipment volumes [6]. Margin Analysis - Comparable operating income was $810 million, down 11% from the prior year, attributed to declines in both beer and wine & spirits segments [7]. - Operating income for the beer segment fell 5% year over year to $873.4 million, with an operating margin contraction of 150 basis points to 39.1% due to increased costs [8]. - The wine and spirits segment reported an operating loss of $6 million, a significant decline from an operating income of $59.7 million in the previous year [9]. Financial Position - As of May 31, 2025, cash and cash equivalents were $73.9 million, long-term debt was $9.8 billion, and total shareholders' equity was $7.3 billion [10]. - The company generated an operating cash flow of $637.2 million and an adjusted free cash flow of $444.4 million for Q1 [10][11]. Future Outlook - Constellation Brands forecasts operating cash flow of $2.7-$2.8 billion and free cash flow of $1.5-$1.6 billion for fiscal 2026, with planned capital expenditures of $1.2 billion [12]. - The company anticipates organic net sales for fiscal 2026 to range from a decline of 2% to an increase of 1%, with the beer segment expected to grow 0-3% and the wine and spirits segment to decline 17-20% [13]. - Comparable EPS guidance for fiscal 2026 is set at $12.60-$12.90, with reported EPS expected to be $12.07-$12.37 [15].

Key Takeaways HWM posted Q2 EPS of $0.91 on $2.05B revenues, up 36% and 9% year over year, beating the consensus estimate.Engine Products revenues jumped 13%, while EBITDA margin rose 300 bps to 28.7% on broad aerospace demand.HWM raised full-year revenue and EPS guidance, with free cash flow now projected up to $1.275B.Howmet Aerospace Inc.’s (HWM) second-quarter 2025 adjusted earnings of 91 cents per share beat the Zacks Consensus Estimate of 87 cents. The bottom line surged 36% year over year.Total reven ...

Core Insights - PPL Corporation reported Q2 2025 operating EPS of 32 cents, missing the Zacks Consensus Estimate of 37 cents by 13.5% and down from 38 cents in the same quarter last year [1][8] - Total revenues reached $2.03 billion, exceeding the Zacks Consensus Estimate of $1.98 billion by 2.15% and increasing 7.7% from $1.88 billion year-over-year [2][8] Financial Performance - The company sold 15,737 gigawatt hours of electricity, reflecting a 0.9% year-over-year decline [3] - Total operating expenses rose to $1.62 billion, an increase of 8.7% from $1.49 billion in the previous year, primarily due to higher fuel and energy costs [3][8] - Operating income was $406 million, up 4.1% from $390 million year-over-year [3] Interest and Debt - Interest expenses amounted to $199 million, a 9.3% increase from $182 million in the same period of 2024 [4] - As of June 30, 2025, PPL's long-term debt was $15.29 billion, down from $15.95 billion at the end of 2024 [6] Segment Performance - In the Pennsylvania Regulated segment, adjusted EPS was 19 cents, down 9.5% from 21 cents year-over-year [5] - The Kentucky Regulated segment reported adjusted EPS of 18 cents, unchanged from the previous year [5] - The Rhode Island Regulated segment's adjusted EPS was 1 cent, down 75% from 4 cents year-over-year due to lower distribution and transmission revenues [5] - The Corporate and Other segment incurred a loss of 6 cents per share, compared to a loss of 5 cents in the prior year [5] Guidance and Future Outlook - PPL reaffirmed its 2025 earnings projection in the range of $1.75-$1.87 per share, with the Zacks Consensus Estimate at $1.82 per share [9] - The company maintains a long-term annual earnings growth rate guidance of 6-8% through 2028 and plans infrastructure investments of $20 billion for 2025-2028 [9]

Core Insights - Southern Co. reported $6.97 billion in revenue for the quarter ended June 2025, a year-over-year increase of 7.9%, with an EPS of $0.91 compared to $1.09 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $6.56 billion, resulting in a surprise of +6.24%, while the EPS surprise was +4.6% against a consensus estimate of $0.87 [1] Revenue Breakdown - Natural Gas revenues reached $979 million, surpassing the average estimate of $917.14 million, reflecting a year-over-year increase of +17.8% [4] - Southern Company Natural Gas reported $979 million, exceeding the estimated $855.44 million, marking a +17.8% change from the previous year [4] - Southern Power generated $546 million, slightly below the average estimate of $552.52 million, with a year-over-year increase of +4.2% [4] - Georgia Power - Wholesale Revenues were $107 million, significantly above the average estimate of $70.97 million, representing a +69.8% year-over-year change [4] - Georgia Power - Other Revenues totaled $238 million, exceeding the estimated $225.21 million, with a +10.7% change from the previous year [4] - Mississippi Power - Retail Revenues reached $274 million, surpassing the average estimate of $243.08 million, reflecting a +13.2% year-over-year increase [4] - Mississippi Power - Other Revenues were $9 million, below the average estimate of $12.08 million, showing a year-over-year decrease of -10% [4] - Southern Company Gas - Gas Distribution Operations reported $885 million, exceeding the average estimate of $781.07 million, with a +18.2% year-over-year change [4] - Southern Company Gas - Gas Pipeline Investments generated $8 million, below the average estimate of $23.68 million, with no year-over-year change [4] - Southern Company Gas - Gas Marketing Services reported $83 million, exceeding the estimated $74.82 million, marking an +18.6% change from the previous year [4] - Retail Electric revenues were $4.76 billion, surpassing the average estimate of $4.3 billion, reflecting a +6.1% year-over-year increase [4] - Alabama Power generated $1.97 billion, exceeding the average estimate of $1.92 billion, with a +5.1% year-over-year change [4] Stock Performance - Southern Co. shares returned +4.1% over the past month, outperforming the Zacks S&P 500 composite's +2.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - The Hershey Company reported second-quarter 2025 results with both top and bottom lines exceeding Zacks Consensus Estimates, although the bottom line showed a year-over-year decline [1][9] - Adjusted earnings per share were $1.21, down 4.7% year over year, while consolidated net sales reached $2,614.7 million, a 26% increase from the previous year [1][2] Financial Performance - Consolidated net sales of $2,614.7 million surpassed the Zacks Consensus Estimate of $2,548 million, with organic sales rising 26.3% on a constant-currency basis [2] - Adjusted gross margin contracted to 38.1%, down 510 basis points, primarily due to increased commodity and manufacturing costs [4][9] - Selling, marketing, and administrative expenses rose 11.5% year over year, driven by higher advertising and consumer marketing spending [5] - Adjusted operating profit increased 7.1% year over year to $410.6 million, with the operating margin contracting 280 basis points to 15.7% [6] Segment Performance - North America Confectionery segment net sales were $2,085.5 million, up 32.0% year over year, with volume growth attributed to inventory cycling, Easter holiday timing, and early Halloween shipments [7] - The North America Salty Snacks segment reported net sales of $315.5 million, an 8.8% increase, with volume growth and net price realization contributing to this rise [10] - The International segment posted net sales of $213.7 million, reflecting a 4.4% increase, although income decreased by $5.2 million year over year [12] Financial Health - The company ended the quarter with cash and cash equivalents of $912.4 million and long-term debt of $5,176.4 million [13] - Management expects capital expenditure for 2025 to be in the range of $425 million to $450 million [13] Future Outlook - Management anticipates net sales to increase at least 2% in 2025, with adjusted EPS projected between $5.81 and $6, reflecting a significant decline from 2024 [14] - The effective tax rate is expected to be approximately 27%, with tariff expenses anticipated to be around $170 million to $180 million for the full year [15]

For the quarter ended June 2025, Columbia Financial (CLBK) reported revenue of $63.88 million, up 19.9% over the same period last year. EPS came in at $0.12, compared to $0.05 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $61.85 million, representing a surprise of +3.28%. The company delivered an EPS surprise of +9.09%, with the consensus EPS estimate being $0.11.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

The reported revenue represents a surprise of +4.59% over the Zacks Consensus Estimate of $1.9 billion. With the consensus EPS estimate being $0.37, the EPS surprise was +5.41%. APi (APG) reported $1.99 billion in revenue for the quarter ended June 2025, representing a year-over-year increase of 15%. EPS of $0.39 for the same period compares to $0.33 a year ago. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next m ...