VAISALA CORPORATIONSTOCK EXCHANGE RELEASE 28.8.2025 Vaisala Corporation: Share Repurchase 28.8.2025 In the Helsinki Stock Exchange Trade date 28.8.2025 Bourse trade Buy Share VAIAS Amount 4 000SharesAverage price/ share 46,5670EURTotal cost 186 268,00EUR Vaisala Corporation now holds a total of 154 300 shares<td colspan ...

Core Insights - Kenon Holdings Ltd. reported its Q2 2025 results, highlighting significant financial developments and operational updates [1] Financial Performance - OPC Energy Ltd. (OPC), a subsidiary of Kenon, generated revenue of $196 million in Q2 2025, an increase from $181 million in Q2 2024, reflecting a growth of approximately 8.3% [6][10] - The cost of sales for OPC increased to $150 million in Q2 2025 from $129 million in Q2 2024, marking a rise of about 16.3% [13] - OPC's Adjusted EBITDA, including the proportionate share in associated companies, rose to $90 million in Q2 2025, compared to $66 million in Q2 2024, indicating a growth of approximately 36.4% [8][6] Revenue Breakdown - Revenue from private customers in Israel increased by $9 million in Q2 2025, primarily due to higher average tariffs [12] - Revenue from the sale of energy at cogeneration tariff in Israel rose by $7 million, attributed to maintenance work at the Hadera power plant in Q2 2024 [12] - In the U.S., revenue from retail electricity activities increased by $25 million, driven by an expanded scope of services [12] Share Offerings and Capital Raising - OPC raised gross proceeds of NIS 1,750 million (approximately $506 million) through share offerings in June and August 2025 [8] - Kenon participated in the June offering, investing approximately NIS 316 million (about $90 million) [21] - The August private placement generated gross proceeds of NIS 900 million (approximately $266 million) [22] Project Developments - The Israeli Government approved the construction of the Hadera 2 project, expected to have a capacity of 850 MW, with estimated construction costs between NIS 4.5 billion and NIS 5 billion (approximately $1.3 billion to $1.5 billion) [24] - OPC is preparing for the construction of Hadera 2 following government approval [24] Debt and Liquidity - As of June 30, 2025, OPC had unrestricted cash and cash equivalents of $470 million and total outstanding consolidated indebtedness of $1,403 million [18] - Kenon's stand-alone cash was approximately $560 million as of June 30, 2025, with no material debt at the Kenon level [26] Share Repurchase Plan - Since March 2023, Kenon has repurchased approximately 1.8 million shares for a total consideration of about $48 million [27] - The board has increased the authorized share repurchase plan by $10 million to a total of up to $70 million [28]

Core Points - Nutanix has authorized an increase of $350 million to its existing share repurchase program, bringing the total repurchase authorization to $461 million, including approximately $111 million remaining from the previous authorization as of July 31, 2025 [1][2] Company Strategy - The increase in the share repurchase program aligns with Nutanix's focus on investing in its business to support profitable growth and delivering strong returns for shareholders, reflecting confidence in its long-term market opportunity and financial outlook [2] Share Repurchase Details - Nutanix may repurchase shares through various means, including open market purchases and privately negotiated transactions, with the timing and amount depending on stock prices, market conditions, and other factors. The authorization has no expiration date and can be modified or discontinued at any time [3]

Core Viewpoint - Bread Financial Holdings, Inc. has authorized a new share repurchase plan of up to $200 million with no expiration date, indicating a commitment to returning value to shareholders and strengthening its capital position [1][2]. Group 1: Share Repurchase Plan - The Board of Directors has approved a plan to repurchase up to $200 million of common stock [1]. - The repurchase plan is flexible and does not obligate the company to acquire a specific number of shares, allowing for suspension or termination based on market conditions and other factors [3]. Group 2: Company Positioning - The company is focused on strengthening its balance sheet and executing capital priorities to grow responsibly while returning value to shareholders [2]. - Bread Financial is described as a tech-forward financial services company that offers personalized payment, lending, and saving solutions to millions of U.S. consumers [4].

Core Viewpoint - TriCo Bancshares (TCBK) continues to demonstrate a shareholder-friendly approach by increasing its quarterly cash dividend to 36 cents per share, marking a 9.1% increase from the previous payout [1][8]. Dividend History - The recent dividend hike represents the 144th consecutive quarterly dividend for TriCo Bancshares, with a total of 10 increases over the past 15 years, growing from 9 cents to 36 cents, a fourfold increase [2][8]. Financial Metrics - With a closing price of $44.44, TCBK's dividend yield is currently at 2.9%. The company maintains a payout ratio of 39% and an annualized dividend growth rate of 9.48%, indicating a strong capacity for reinvestment while providing consistent capital returns [3][8]. Share Repurchase Program - TriCo Bancshares has been actively repurchasing shares, with a board-approved plan to buy back up to 2.0 million shares. As of June 30, 2025, approximately 0.36 million shares remain authorized for repurchase [4]. Liquidity Position - The company reported $314 million in cash and cash equivalents against $119 million in total debt as of June 30, 2025, highlighting a robust liquidity profile that supports its dividend and share repurchase initiatives [5][8]. Stock Performance - Over the past three months, TCBK shares have increased by 10.4%, slightly underperforming the industry growth of 11.9% [6]. Zacks Rank - TCBK currently holds a Zacks Rank of 2 (Buy), indicating a favorable outlook in the market [9].

Summary of US Physical Therapy (USPH) FY Conference Call - August 26, 2025 Company Overview - **Company Name**: US Physical Therapy (USPH) - **Industry**: Outpatient orthopedic physical therapy - **Market Presence**: Operates nearly 800 facilities across the United States, with a partner model where the company generally owns about 70% of each partnership [2][4][10] Core Business Model - **Partnership Model**: USPH partners with local brands, allowing owners to retain a meaningful interest while benefiting from USPH's resources for growth [4][5][16] - **Market Fragmentation**: The physical therapy market is highly fragmented, estimated at $40 billion, with no single provider holding more than 10% market share [10][14] - **Reimbursement Strategy**: Focus on states with favorable reimbursement rates to ensure reasonable margins [8][9] Financial Performance - **Growth Despite Challenges**: Despite facing Medicare reimbursement headwinds, USPH has maintained significant growth, reporting an 18% increase in the last quarter [6][38] - **EBITDA Impact**: The company has faced a cumulative EBITDA reduction of $50 million due to reimbursement cuts, with $25 million impacting this year alone [35][37] - **Current EBITDA Guidance**: Updated guidance for EBITDA is between $93 million and $97 million for the year [38] Operational Highlights - **Visit Metrics**: Average visits per clinic per day reached 32.7, indicating strong demand [40] - **Technological Investments**: Implementation of AI-assisted documentation and partial virtualization of front desk operations to enhance efficiency [41] - **Margin Recovery**: Recent quarterly margins were around 21%, with expectations to improve further [42] Growth Opportunities - **Industrial Injury Prevention Business**: Launched in 2017, this segment has grown to over $100 million in revenue and $20 million in EBITDA, with a growth rate of 20-30% [44][48] - **Strategic Acquisitions**: Focus on acquiring larger practices with at least $1 million in EBITDA, enhancing profitability through better reimbursement rates [26][16] Market Dynamics - **Regulatory Challenges**: The company has navigated significant regulatory changes and reimbursement cuts, particularly from Medicare, which have historically impacted physical therapy providers [35][36] - **Competitive Landscape**: USPH differentiates itself from competitors by maintaining a strong balance sheet and avoiding excessive leverage, unlike many private equity-backed firms [31][14] Additional Insights - **Dividend Policy**: USPH has consistently paid dividends since 2012, currently at approximately $0.45 per quarter [51] - **Share Repurchase Plan**: Recently authorized a share repurchase plan due to stock price fluctuations, although this is not the primary focus for capital deployment [53] Conclusion US Physical Therapy is positioned for continued growth in a fragmented market, leveraging its partnership model and operational efficiencies to navigate regulatory challenges and capitalize on emerging opportunities in the physical therapy and industrial injury prevention sectors.

Core Viewpoint - Lithia & Driveway has increased its share repurchase authorization by $750 million, raising the total repurchase capacity to $1.08 billion, reflecting confidence in the company's strategy and cash generation capabilities [1][2]. Company Overview - Lithia & Driveway (NYSE: LAD) is the largest global automotive retailer, offering a wide range of products and services throughout the vehicle ownership lifecycle, including physical locations, e-commerce platforms, and finance solutions [3]. Share Repurchase Program - The company has invested $242 million to repurchase approximately 812,000 shares at a weighted average price of $298 per share in the third quarter to date [2]. - Total repurchases in 2025 amount to $492 million, representing 6.1% of shares outstanding [2]. Strategic Focus - The increase in share repurchase underscores the company's long-term conviction in its strategy and the attractiveness of repurchases as a value-accretive complement to ongoing growth investments [2]. - The company emphasizes disciplined return on invested capital and a commitment to maximizing shareholder returns [2].

Core Viewpoint - BJ's Wholesale Club is experiencing short-term challenges but is positioned for long-term growth, with a current trading price that reflects deep value levels [2][10]. Financial Performance - Revenue grew by 3.3%, slightly below larger competitor Walmart, with comparable sales (comps) increasing by 2.3% excluding fuel [6][8]. - Digital sales surged by 34%, significantly contributing to margin strength [7]. - Operating income rose by 6.3%, net income by 3.9%, and adjusted EPS by 4.6%, all outpacing top-line growth [8]. Market Position and Analyst Sentiment - Analysts have shifted sentiment from Hold to Moderate Buy, with a consensus price target of $113.18, indicating an 18.43% upside potential from the current price of $95.57 [4][10]. - The stock has been on an upward trend since 2020, gaining traction during the COVID-19 pandemic [3]. Growth Strategy and Guidance - The company reaffirmed its revenue growth targets and increased adjusted EPS guidance by six cents at the midpoint, aligning with consensus figures [9]. - BJ's Wholesale Club is accelerating store count growth and market penetration, setting the stage for future growth as consumer headwinds ease [2]. Shareholder Value - The company has a low leverage ratio with long-term debt less than 0.2 times equity, allowing for significant share repurchases [11]. - A buyback program of up to $950 million is in place, expected to reduce share count by about 1% on average per quarter [12].

Core Viewpoint - Vaisala Corporation has executed a share repurchase, acquiring 3,011 shares at an average price of €46.9572 per share, totaling a cost of €141,388.13, bringing the total shares held to 144,995 [1]. Group 1: Share Repurchase Details - The share repurchase occurred on August 25, 2025, on the Helsinki Stock Exchange [1]. - The total cost of the repurchased shares was €141,388.13 [1]. - The repurchase is in compliance with European regulations regarding market abuse [1]. Group 2: Company Overview - Vaisala Corporation is a global leader in measurement instruments and intelligence for climate action, focusing on improving resource efficiency and energy transition [2]. - The company has nearly 90 years of innovation and employs around 2,500 experts dedicated to environmental measures [2]. - Vaisala's series A shares are listed on the Nasdaq Helsinki stock exchange [2].

Core Insights - Apple has achieved remarkable success through continuous innovation and a strong product lineup, including the iPhone, MacBook, AirPods, and Watch, alongside popular services like Music, Pay, and TV+ [1] - The company's long-term share-price gains have been complemented by regular dividend payments to investors, with a current quarterly dividend of $0.26 per share [2][4] - Apple has a history of increasing dividends, having doubled its quarterly per-share payout over the past decade, and is expected to continue this trend [5] Financial Performance - In Q3 2025, Apple reported a net profit margin of 24.9%, showcasing its strong earnings power [6] - The company generated significant free cash flow, amounting to tens of billions of dollars each quarter, allowing for substantial capital returns to investors [6] - Apple spent $3.9 billion on dividends and $21 billion on share repurchases in the latest fiscal quarter, indicating a strong commitment to returning capital to shareholders [5] Investment Considerations - To achieve $10,000 in annual passive income from dividends, an investor would need approximately 9,615 shares, equating to nearly $2.2 million based on a stock price of $226.01 [4] - The stock's dividend yield stands at 0.46%, which may not be particularly attractive, but there is minimal risk of discontinuation of the dividend payout [7]