Core Insights - SM Energy Company reported third-quarter 2025 adjusted earnings of $1.33 per share, exceeding the Zacks Consensus Estimate of $1.25, but down from $1.62 in the same quarter last year [1][8] - Total quarterly revenues reached $811.6 million, falling short of the Zacks Consensus Estimate of $838 million, yet showing an increase from $643.6 million year-over-year [1] Operational Performance - Production volume for the third quarter was 213.8 thousand barrels of oil equivalent per day (MBoe/d), a 26% increase from 170 MBoe/d a year ago, driven by higher oil-weighted production from Uinta Basin assets [3] - Oil production rose approximately 47% year-over-year to 113.9 MBbls/d, while natural gas production increased 11% to 418.2 million cubic feet per day [4] Realized Prices - The average realized price per Boe was $41.23, slightly up from $41.08 year-over-year, while the average realized oil price decreased 15% to $63.83 per barrel [5] - The average realized price of natural gas improved by 50% year-over-year to $2.19 per thousand cubic feet [5] Costs & Expenses - Unit lease operating expenses increased 20% year-over-year to $5.67 per Boe, while total hydrocarbon production expenses rose to $229 million from $148.4 million a year ago [6] - General and administrative expenses decreased by 11% to $2 per Boe [6] Capital Expenditures - Capital expenditures for the quarter totaled $397.7 million, with adjusted free cash flow amounting to $234.3 million [7] Balance Sheet - As of September 30, 2025, SM Energy had cash and cash equivalents of $162.3 million and a net debt of $2.57 billion [9] Guidance - For Q4 2025, production is expected to range between 206-212 MBoe/d, with oil contributing 52-53% [10] - Full-year 2025 net production volume is anticipated to be 207-208 MBoe/d, with capital expenditures updated to approximately $1.375-$1.395 billion [11] Merger Announcement - SM Energy announced a $12.8 billion all-stock merger with Civitas Resources, enhancing its asset portfolio [8][12] - The merger is expected to create a high-quality asset portfolio across productive U.S. shale basins, with annual synergies estimated at $200 million [13][14]

PARIS--(BUSINESS WIRE)--To bring its contribution to the public debate around the energy transition, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) publishes the 7th edition of its "TotalEnergies Energy Outlook", which presents an overview of the energy system and scenarios for its evolution up to 2050. (Documents available at this link). Access to energy is essential to meet development needs Today, there are still around 4.6 billion people that lack access to a level of energy that is deemed. ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q3 2025 was $783 million, up 7.1% year-over-year and 6.3% on an organic basis [13][14] - Adjusted EBITDA grew 18.6% to $217 million, with an Adjusted EBITDA margin of 27.7%, an increase of 270 basis points from the previous year [14][20] - Adjusted net income for Q3 was $119 million, up 14.4% from last year, with adjusted diluted earnings per share increasing to $0.56 from $0.49 [14][20] Business Line Data and Key Metrics Changes - Industrial segment revenues rose 8.2% to $343 million, with organic growth of 7.3%, driven by certification testing and ongoing services [15] - Consumer segment revenues were $340 million, up 5.9% overall and 5.3% organically, with strong demand in non-certification testing [16] - Software and advisory segment revenues increased 7.5% to $100 million, with organic growth of 6.5%, particularly strong in advisory services [17] Market Data and Key Metrics Changes - The company experienced balanced contributions from all three segments, with notable strength in energy and automation within the industrial sector [15][16] - Growth was observed across various geographic markets, with significant demand in the U.S., Greater China, and ASEAN regions [42] Company Strategy and Development Direction - The company is focusing on transformative industry trends, including energy transition and digital transformation, to drive sustainable growth [5][10] - A restructuring initiative was announced to streamline operations, reduce expenses, and focus on core growth areas, which is expected to generate annual savings [9][20] - The launch of Landmark Artificial Intelligence Safety Certification Testing was highlighted as a strategic move to build public trust in AI technologies [23] Management's Comments on Operating Environment and Future Outlook - Management noted a resilient demand for services despite geopolitical uncertainties, with a strong outlook for continued growth [10][24] - The full-year 2025 guidance was strengthened, expecting organic revenue growth of 5.5%-6.0% and an Adjusted EBITDA margin improvement to approximately 25% [20][22] Other Important Information - The company generated $317 million in free cash flow year-to-date, up 47% from the previous year, and maintained a robust balance sheet with $255 million in cash [17][18] - A new credit facility was established to enhance financial flexibility and support ongoing investments [18] Q&A Session Summary Question: Impact of macroeconomic conditions in China - Management acknowledged ongoing uncertainty due to tariffs but noted a shift towards a new normal with customers adapting to supply chain diversification [26][28] Question: Performance of the software and advisory business - Management indicated that the strong performance was due to high project completion rates, leading to increased staff utilization [29][30] Question: Tariff impacts and revenue consistency - Management reported a steady performance in Q3, with ongoing certification services showing growth despite previous volatility [34][35] Question: Details on the restructuring plan - Management clarified that the restructuring would involve exiting non-strategic service lines, allowing for a focus on higher quality growth areas [36][37] Question: Regional growth dynamics in industrial business - Management confirmed growth across all regions, with particular strength in the U.S. and Greater China, especially in data center-related services [41][42] Question: Utilization of new battery testing labs - Management expressed satisfaction with the investments in battery testing labs, noting a shift towards industrial energy storage systems [45][46] Question: Historical sources of excess costs - Management indicated that the restructuring would focus on reducing costs in testing and certification businesses, with an emphasis on process improvements [78][79] Question: Outlook for M&A opportunities - Management stated a disciplined approach to M&A, remaining active in pursuing opportunities aligned with core growth areas [93]

Financial Data and Key Metrics Changes - Consolidated revenue for Q3 2025 was $783 million, up 7.1% year-over-year and 6.3% on an organic basis [13][14] - Adjusted EBITDA grew 18.6% to $217 million, with an adjusted EBITDA margin of 27.7%, an increase of 270 basis points from the previous year [14][20] - Adjusted net income for Q3 was $119 million, up 14.4% from last year, with adjusted diluted earnings per share increasing to $0.56 from $0.49 [14][20] Business Line Data and Key Metrics Changes - Industrial segment revenues rose 8.2% to $343 million, with organic growth of 7.3%, driven by certification testing and ongoing services [15] - Consumer segment revenues were $340 million, up 5.9% overall and 5.3% organically, with strong demand in non-certification testing [16] - Software and advisory segment revenues increased 7.5% to $100 million, with organic growth of 6.5%, particularly strong in advisory services [17] Market Data and Key Metrics Changes - The company experienced balanced contributions from all three segments, with notable strength in energy and automation within the industrial sector [15][16] - Growth was observed across various geographic markets, with significant demand shifts noted in Vietnam, Thailand, and India, while traditional markets like Germany and Japan showed slight contractions [34][42] Company Strategy and Development Direction - The company is focusing on transformative industry trends, including energy transition and digital transformation, to drive sustainable growth [5][10] - A restructuring initiative was announced to streamline operations, reduce expenses, and focus on core growth areas, with an expected annual run-rate savings of $25-$30 million once fully implemented [9][20] - The launch of Landmark Artificial Intelligence Safety Certification Testing was highlighted as a strategic move to build public trust in AI technologies [23] Management's Comments on Operating Environment and Future Outlook - Management noted a resilient demand for services despite geopolitical uncertainties, with ongoing customer commitment to product development [10][24] - The full-year 2025 guidance was strengthened, expecting consolidated organic revenue growth of 5.5%-6.0% [20][22] - The company anticipates a modest headwind to organic revenue growth in 2026 due to exiting non-strategic service lines, but overall growth rates for core businesses are expected to remain stable [19][88] Other Important Information - The company generated $317 million in free cash flow year-to-date, up 47% from the previous year, with a robust balance sheet [17][18] - Capital expenditures for 2025 are now expected to be 6.5%-7.0% of revenue, down from previous guidance, primarily due to timing [21][22] Q&A Session Summary Question: Impact of macroeconomic conditions in China on business - Management acknowledged ongoing tariff discussions affecting customer behavior, noting a shift towards supply chain diversification and a new normal in operations [26][28] Question: Performance of the software and advisory business - Management indicated that the strong performance was due to high project completion rates, leading to increased staff utilization, but cautioned against assuming this trend would continue [29][30] Question: Tariff impacts and revenue consistency - Management reported a steady performance in Q3, with significant growth in emerging markets, while traditional markets showed some contraction [34][35] Question: Details on the restructuring plan - The restructuring will focus on exiting non-strategic service lines, freeing up resources for core growth areas, with a modest impact on 2026 revenue [36][38] Question: Growth dynamics across regions - Growth was observed in all regions, with particular strength in the U.S. and Greater China, especially in sectors supporting data center growth [41][42] Question: Utilization of new battery testing labs - Management expressed satisfaction with the investments in battery testing labs, noting a shift towards industrial energy storage systems [46] Question: Historical sources of excess costs and changes - Management confirmed ongoing business process improvements and technology investments to enhance service delivery and reduce costs [54][55] Question: Pricing contributions in Q3 - Pricing and volume growth contributed similarly to revenue growth, with ongoing certification services benefiting from pricing adjustments [58][60] Question: Assurance on growth outlook - Management reassured that the underlying growth outlook remains unchanged despite the restructuring, with a focus on core business areas [87][88]

Financial Data and Key Metrics Changes - The company closed the first nine months of 2025 with stable EBITDA compared to the previous year, despite lower hydrological conditions, demonstrating operational resilience [7] - Net income for the nine months of 2025 reached $352 million, a 21% decrease compared to the previous year, primarily due to higher depreciation, amortization, and bad debt expenses [23] - FFO reached $615 million, representing an improvement of $248 million compared to the previous year, driven by the recovery of PEC receivables [25] Business Line Data and Key Metrics Changes - Net production decreased by 9% in the first nine months of 2025 compared to the same period in 2024, primarily due to lower hydro dispatch and maintenance of solar plants [9][10] - Energy sales reached 22.7 TWh, with a notable decrease in sales to regulated customers following the expiration of contracts [10] - EBITDA for the last quarter totaled $345 million, a decrease of $63 million compared to the same period in 2024, mainly due to reduced PPA sales [18] Market Data and Key Metrics Changes - The company maintained its hydrology guidance despite a particularly dry year in 2025, thanks to the flexibility of its hydro plants [8] - The gas business saw increased margins of $74 million during the first nine months of 2025, supported by favorable trading opportunities [9] - The distribution business implemented a comprehensive winter plan, resulting in improved service continuity and network reliability [11] Company Strategy and Development Direction - The company is focused on operational excellence and sustainable growth, aiming to deliver long-term value to shareholders while advancing in energy transition [7] - Significant regulatory updates are expected that will clarify tariffs and market mechanisms, which are essential for refining long-term strategy [29] - The company is negotiating new contracts for Argentinian gas and maintaining a long-term gas contract for LNG, emphasizing the importance of gas for thermal power generation [38] Management's Comments on Operating Environment and Future Outlook - Management confirmed that despite a tough hydrological situation, the company has shown flexibility and maintained high production levels [45] - The company expects to improve FFO performance in the last quarter of 2025, driven by higher ordinary cash flow and efficient management of working capital [46] - The company is preparing for its 2026 Investor Day, where it will share a comprehensive view of its strategy and actions for long-term value creation [30] Other Important Information - Total CAPEX reached $245 million during the first nine months of 2025, with a focus on grid investments and thermal power projects [16] - The company has available committed credit lines for $640 million and cash equivalents for $373 million, indicating a strong liquidity position [28] Q&A Session Summary Question: What is the amount that Enel Chile must return to customers due to the miscalculation of the CNE? - The estimated amount is between $40 million and $45 million, expected to be accrued in 2025 and paid back in the first half of 2026 [32] Question: What is the amount owed to Enel distribution Chile in connection to the VAD 2020-2025 freeze? - The amount is around $50 million to $55 million, with potential cashback starting in mid-2026 [34] Question: Could you explain your strategy regarding LNG and Argentinian gas? - The company has a long-term gas contract for LNG and is negotiating a new contract for Argentinian gas, with ongoing discussions [38] Question: Could you provide an update on CAPEX for the generation business? - CAPEX for 2025 is expected to be around $150 million to $160 million, with at least $50 million allocated for BESS projects [40] Question: What measures are being taken to address increasing energy losses? - The company is increasing recovery activities and launching flexible payment plans for customers, while also working with regulators to address the issue [43] Question: Is the company confirming its latest guidance? - Yes, the company confirms its guidance despite a challenging hydrological situation, leveraging its gas contracts and flexible production capabilities [45] Question: Could you explain the dynamics of FFO during the nine months of this year? - FFO is usually concentrated in the second half of the year, with expectations for improved performance in the last quarter due to higher ordinary cash flow [46] Question: Do you have any news for unregulated PPA contracts? - Currently, there are no updates regarding unregulated PPA contracts [57]

Financial Data and Key Metrics Changes - The company closed the first nine months of 2025 with stable EBITDA compared to the previous year, despite lower hydrology conditions [8] - Net income for the nine months of 2025 reached $352 million, a 21% decrease compared to the previous year, primarily due to higher depreciation and bad debt expenses [24] - FFO reached $615 million, representing an improvement of $248 million compared to the previous year, driven by the recovery of PEC receivables [26] Business Line Data and Key Metrics Changes - Net production decreased by 9% in the first nine months of 2025 compared to the same period in 2024, driven by lower hydro dispatch and maintenance of solar plants [10][11] - Energy sales reached 22.7 terawatt-hour, mainly due to lower sales to regulated customers following the expiration of contracts [11] - EBITDA for the last quarter totaled $345 million, a decrease of $63 million compared to the same period in 2024, mainly due to decreased PPA sales [18] Market Data and Key Metrics Changes - The company maintained its hydrology guidance despite a particularly dry year in 2025, thanks to the flexibility of its hydro plants [9] - The gas business saw an increase in margin during the first nine months of 2025, adding $74 million due to favorable trading opportunities [10] - The average cost of debt reached 4.8% as of September 2025, down from 5.0% in December 2024, reflecting efforts to optimize financial costs [29] Company Strategy and Development Direction - The company is focused on operational excellence and sustainable growth, aiming to deliver long-term value to shareholders while advancing in energy transition [8] - Significant regulatory updates are expected that will clarify tariffs and market mechanisms, which are essential for refining long-term strategy [30] - The company is implementing proactive initiatives to address portfolio dynamics and climate challenges, including strengthening generation and distribution businesses [30] Management's Comments on Operating Environment and Future Outlook - Management confirmed that despite a tough hydrological situation, the company showed flexibility and maintained high production levels [46] - The company expects to improve FFO performance in the last quarter of 2025, driven by higher ordinary cash flow and efficient management of working capital [47][48] - Management remains committed to investing in strategic renewable projects and delivering sustainable returns for shareholders [30] Other Important Information - Total CAPEX reached $245 million during the first nine months of 2025, with a focus on grid investments and thermal power projects [17] - The company is awaiting settlement of outstanding debt related to the VAD decree for 2020-2024, expected to be settled in 2026 [14] Q&A Session Summary Question: What is the amount that Enel Chile must return to customers due to the miscalculation of the CNE? - The estimated amount is between $40 million and $45 million, expected to be accrued in 2025 and paid back in the first half of 2026 [33] Question: What is the amount owed to Enel distribution Chile in connection to the VAD 2020-2025 freeze? - The amount is around $50 million to $55 million, with potential cashback starting in mid-2026 [35][36] Question: Could you explain your strategy regarding LNG and Argentinian gas? - The company has a long-term gas contract for LNG and is negotiating a new contract for Argentinian gas, with ongoing discussions [39] Question: Could you provide an update on CAPEX for the generation business? - CAPEX for 2025 is expected to be around $150 million to $160 million, with at least $50 million allocated for BESS projects [41][42] Question: What measures are being taken to address increasing energy losses? - The company is increasing recovery activities and launching flexible payment plans for customers, while also working with regulators to address the issue [44] Question: Is the company confirming its latest guidance? - Yes, despite a tough year, the company has shown flexibility and can confirm the results for the year [46] Question: Could you explain the dynamics of FFO during the nine months of this year? - FFO is usually concentrated in the second half of the year, with expectations for improved performance in the last quarter [47][48] Question: Do you have any news for unregulated PPA contracts? - Currently, there are no updates regarding unregulated PPA contracts [58]

Financial Data and Key Metrics Changes - The company closed the first nine months of 2025 with stable EBITDA compared to the previous year, despite lower hydrology conditions [7] - Net income for the nine months of 2025 reached $352 million, a 21% decrease compared to the previous year, primarily due to higher depreciation and bad debt expenses [24] - FFO reached $615 million, representing an improvement of $248 million compared to the previous year, driven by the recovery of PEC receivables [26] Business Line Data and Key Metrics Changes - Net production decreased by 9% compared to the same period of 2024, driven by lower hydro dispatch and maintenance of solar plants [10] - Energy sales reached 22.7 terawatt-hour, mainly due to lower sales to regulated customers following the expiration of contracts [11] - EBITDA for the last quarter totaled $345 million, a decrease of $63 million compared to the same period of 2024 [18] Market Data and Key Metrics Changes - The company maintained its hydrology guidance despite a particularly dry year in 2025, with hydro production remaining in line with strategic plans [9] - The gas business saw a margin increase of $27 million due to expanded trading activities [22] - The average cost of debt decreased to 4.8% as of September 2025, down from 5.0% in December 2024 [28] Company Strategy and Development Direction - The company is focused on operational excellence and sustainable growth while advancing in energy transition [8] - Significant regulatory updates are expected that will clarify tariffs and market mechanisms, essential for refining long-term strategy [29] - The company is implementing proactive initiatives to address portfolio dynamics and climate challenges [29] Management Comments on Operating Environment and Future Outlook - Management confirmed that despite a tough hydrological situation, the company showed flexibility and maintained high production levels [37] - The company expects to improve FFO performance in the last quarter due to higher EBITDA and efficient management of working capital [38] - The company is negotiating new contracts for Argentinian gas, emphasizing the importance of gas for thermal power plants [33] Other Important Information - Total CAPEX reached $245 million during the first nine months of the year, with a focus on grid investments [17] - The company successfully implemented a comprehensive winter plan to strengthen grid resilience and improve service continuity [6] - The distribution cycle for 2024-2028 is under development, with key changes in the regulatory framework expected [13] Q&A Session Summary Question: What is the amount that Enel Chile must return to customers due to the miscalculation of the CNE? - The estimated amount is between $40 million and $45 million, expected to be accrued in 2025 and paid back in the first half of 2026 [30] Question: What is the amount owed to Enel distribution Chile in connection to the VAD 2020-2025 freeze? - The amount is around $50 million-$55 million, with potential cashback starting in mid-2026 [31] Question: Could you explain your strategy regarding LNG and Argentinian gas? - The company has a long-term gas contract for LNG and is negotiating a new contract for Argentinian gas [33] Question: What is the update on CAPEX for the generation business? - CAPEX for generation is expected to be around $150 million-$160 million, with at least $50 million allocated for BESS projects [34] Question: What measures are being taken to address increasing energy losses? - The company is increasing recovery activities and launching flexible payment plans for customers to address energy losses [36] Question: Is the company confirming its latest guidance? - Yes, the company confirms its guidance despite a tough hydrological situation [37] Question: Could you explain the dynamics of FFO during the nine months of this year? - FFO is usually concentrated in the second half of the year, with expectations for improved performance in the last quarter [38] Question: Do you have any news for unregulated PPA contracts? - Currently, there are no updates regarding unregulated PPA contracts [44]

A massive surge in global power demand, driven by the insatiable energy needs of artificial intelligence, is set to ignite what experts are calling a “historic energy transition.”Power Demand To Jump 30% By 2035Global power demand is projected to skyrocket by 30% by 2035, according to a recent analysis by The Kobeissi Letter. The primary catalyst for this surge is data centers, whose share of total power use is expected to more than double from its current 1.5% to 3.5% as AI adoption accelerates.This unprec ...

Core Insights - Sinopec has established a joint venture with LG Chem to develop sodium-ion batteries, marking its entry into the battery industry [1][2] - The collaboration aims to enhance technology and market competitiveness, aligning with Sinopec's vision of becoming a leading clean energy and premium chemical company [2] - The demand for sodium-ion batteries is projected to increase significantly, from 10 GWh in 2023 to 292 GWh by 2034, with China expected to dominate global production [5] Company Overview - Sinopec is the largest oil refiner globally, with a refining capacity of approximately 6 million barrels per day [3] - The company is also a major crude oil and gas producer in China, anticipating that peak oil demand in the country will occur soon, at around 16 million barrels daily [3] Financial Performance - Sinopec reported a 32% decline in net profits for Q3, attributed to lower oil prices and sluggish demand growth [4]

Core Viewpoint - Northern Graphite Corporation has signed a Letter of Intent with Alkeemia S.p.A. to secure access to a cleaner graphite purification technology that is independent of China, aiming to enhance supply chain resilience for the energy transition in the West [1][4][9] Group 1: Partnership and Capacity - Northern Graphite will take up to 50% of the production capacity (100 tonnes per year) of a pilot plant being developed by Alkeemia in Italy [3][5] - The pilot plant will demonstrate the scalability of Alkeemia's HF purification process, which is more efficient and has a lower carbon footprint compared to competing technologies from China [2][5] Group 2: Strategic Importance - The partnership is part of a broader strategy to establish Western-based, vertically integrated supply chains for graphite and battery anode materials, reducing dependence on Chinese supply chains [7][9] - The agreement aligns with Canada's national priorities for critical mineral development, supporting the clean energy transition and enhancing manufacturing capabilities [4][5] Group 3: Technological Advancements - Alkeemia's purification process targets a purity level of 99.96% for graphite used in lithium-ion batteries, which is essential for downstream applications [5][6] - The technology has the potential to be scaled to 5,000 and 10,000 tonnes for deployment in Northern's planned Battery Anode Material facilities in Quebec and France [8][9] Group 4: Resource Integration - Graphite concentrate feedstock for the pilot plant will be sourced from Northern's Okanjande mine in Namibia and Lac des Iles mine in Quebec, integrating upstream assets with downstream processing ambitions [6][11] - Northern Graphite is focused on becoming a world leader in producing natural graphite and upgrading it into high-value products critical to the green economy [10][11]