Second Quarter 2025 Earnings Presentation July 24, 2025 5:00 PM Eastern / 2:00 PM Pacific Registration: 2Q25 Registration link Webcast: 2Q25 Webcast link 1 EXECUTIVE TEAM ON THE CALL STEPHEN BERMAN Chairman & Chief Executive Officer JOHN KIMBLE Executive Vice President & Chief Financial Officer 2 SAFE HARBOR STATEMENT The Company would like to point out that any comments made about JAKKS Pacific's future performance, events or circumstances, including the estimates of sales and/or Adjusted EBITDA in 2025, a ...

Core Insights - SoFi Technologies Inc is set to release its second-quarter earnings report on July 29, with analysts expecting earnings of 6 cents per share and revenue of $805.44 million, indicating significant growth compared to the same quarter last year [1] Stock Performance - The stock has been on an upward trend since early April, reaching a three-year high of $22.74 on July 18, and is currently valued at $21.50, reflecting a year-to-date increase of 39.6% [2] Earnings History and Market Expectations - Historically, SoFi's stock has closed lower in only three of its last eight post-earnings sessions, although it experienced a notable 10.3% drop in January. The options market is anticipating an earnings swing of 11.3%, which is larger than the average 8.8% move over the past two years [4] Short Interest - Despite the recent stock price increase, short interest accounts for 14.3% of the available float, suggesting that a positive earnings report could lead to short covering and potentially drive the stock price higher [5]

Core Insights - Westinghouse Air Brake Technologies Corporation (WAB) reported Q2 2025 earnings per share (EPS) of $2.27, exceeding the Zacks Consensus Estimate of $2.18, marking a 15.8% year-over-year increase driven by higher sales, operating margin expansion, and share repurchases [1][9] - Revenues for the quarter were $2.71 billion, falling short of the Zacks Consensus Estimate of $2.77 billion, but reflecting a 2.3% year-over-year growth due to increased sales in the Transit segment, offset by lower Equipment sales [2][9] Financial Performance - WAB raised its 2025 adjusted EPS guidance to a range of $8.55 to $9.15 from the previous range of $8.35 to $8.95, supported by strong first-half performance, mergers and acquisitions, and prudent cost management [3] - The company also increased its 2025 revenue guidance to $10.925 billion to $11.225 billion from $10.725 billion to $11.025 billion, primarily due to the acquisition of Evident Inspection Technologies Division [4] Segment Performance - The Freight segment reported net sales of $1.91 billion, a slight decline of 0.1% year-over-year, impacted by lower locomotive deliveries due to a supplied part issue, although service sales increased by 6% [5][6] - The Transit segment saw net sales grow by 8.7% year-over-year to $787 million, with an adjusted operating margin increase to 15.2% from 12.7% in the same quarter of 2024 [6] Operational Details - Total operating expenses rose by $22 million year-over-year to $466 million, with the operating ratio increasing to 17.2% from 16.8% [7] - WAB ended the quarter with cash and cash equivalents of $1.49 billion, a significant increase from $698 million at the end of the previous quarter, while long-term debt rose to $4.78 billion from $3.50 billion [7] Shareholder Returns - During the quarter, WAB paid $44 million in dividends and repurchased shares worth $50 million [8]

Core Insights - TransUnion reported revenue of $1.14 billion for the quarter ended June 2025, marking a year-over-year increase of 9.5% and exceeding the Zacks Consensus Estimate by 3.7% [1] - The earnings per share (EPS) for the same period was $1.08, up from $0.99 a year ago, representing a surprise of 9.09% over the consensus estimate [1] Revenue Performance - U.S. Markets revenue reached $890.4 million, surpassing the average estimate of $853.91 million by analysts, with a year-over-year change of 10% [4] - Consumer Interactive revenue in U.S. Markets was $146.9 million, exceeding the estimate of $140.66 million [4] - International revenue totaled $252.9 million, above the average estimate of $248.04 million, reflecting a year-over-year increase of 7.4% [4] - Total gross revenue was reported at $1.14 billion, compared to the average estimate of $1.1 billion, indicating a year-over-year change of 9.4% [4] Segment Performance - Financial Services revenue in U.S. Markets was $419.9 million, exceeding the estimate of $392.61 million, with a year-over-year increase of 17.1% [4] - Emerging Verticals revenue in U.S. Markets was $323.6 million, slightly above the estimate of $321.7 million, showing a year-over-year change of 4.9% [4] - International revenue from Canada was $42.3 million, surpassing the estimate of $39.93 million, with a year-over-year change of 9% [4] - International revenue from the UK was $67.2 million, exceeding the estimate of $65 million, reflecting a year-over-year increase of 18.7% [4] - International revenue from Asia Pacific was $24.5 million, below the estimate of $26.66 million, showing a year-over-year decline of 6.5% [4] - International revenue from Africa was $18.2 million, above the estimate of $17.03 million, with a year-over-year increase of 15.2% [4] Stock Performance - TransUnion shares have returned 6.9% over the past month, outperforming the Zacks S&P 500 composite's return of 5.7% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Insights - Selective Insurance Group, Inc. (SIGI) reported second-quarter 2025 operating income of $1.31 per share, missing the Zacks Consensus Estimate by 15.5%, but rebounding from a loss of $1.10 per share in the prior year [1][8] - The company's total revenues reached $1.3 billion, a 10.9% increase year-over-year, driven by higher net premiums written and net investment income, surpassing estimates by 0.9% [2][8] Financial Performance - Net premiums written (NPW) increased by 5% year-over-year to $1.3 billion, with average renewal pure price rising 80 basis points to 9.9% [2] - Net investment income rose 18% year-over-year to $101 million [3] - Net catastrophe losses were $79.9 million, down from $90.5 million in the previous year, while non-catastrophe property losses decreased to $173.2 million from $185.5 million [3] Combined Ratio and Expenses - The combined ratio improved by 1590 basis points year-over-year to 96.1, benefiting from lower catastrophe losses and loss expenses, compared to the Zacks Consensus Estimate of 98 [4][8] - Total expenses declined by 4.6% year-over-year to $1.2 billion, aligning with estimates [4] Segmental Results - Standard Commercial Lines' NPW increased by 6% year-over-year to $1 billion, with a combined ratio improvement of 1600 basis points to 102.8 [5] - Standard Personal Lines' NPW decreased by 5% year-over-year to $110.5 million, with a combined ratio improvement of 2650 basis points to 91.6 [6] - Excess & Surplus Lines' NPW rose by 9% year-over-year to $160.2 million, with a combined ratio improvement of 480 basis points to 89.8 [7] Financial Position - As of June 30, 2025, total assets were $14.5 billion, a 7% increase from December 2024 [9] - Long-term debt surged by 78% to $902.7 million, with a debt-to-total capitalization ratio of 21.1% [9] - Adjusted book value per share increased by 5% year-over-year to $54.48, with an operating return on common equity of 10.3% compared to negative 9.6% in the prior year [9] Shareholder Returns - The board authorized a quarterly cash dividend of 38 cents per share, payable on September 2, 2025 [10] 2025 Guidance - SIGI estimates a GAAP combined ratio of 97% to 98%, reflecting a 100-basis point deterioration from previous guidance, with net catastrophe losses expected to contribute 6 points [11] - The company anticipates after-tax net investment income of $415 million, an increase from prior guidance of $405 million [11]

Core Insights - Nasdaq reported second-quarter 2025 adjusted earnings per share of 85 cents, exceeding the Zacks Consensus Estimate by 6.3% and reflecting a 24% year-over-year improvement [1][8] - The company's shares rose 1% in pre-market trading due to this outperformance [1] - Revenue growth was driven by higher revenues across three divisions and organic growth, although this was partially offset by increased expenses [1] Financial Performance - Nasdaq's net revenues reached $1.3 billion, marking a 13% year-over-year increase, with organic net revenue growth at 12% [2][8] - Annualized Recurring Revenue (ARR) grew 10% year over year to $2.9 billion, with organic growth at 9% [2] - Annualized SaaS revenues increased by 13%, accounting for 37% of ARR [2] Segment Performance - Capital Access Platforms' adjusted revenues were $527 million, up 9% year over year, driven by higher revenues across all business lines [3] - Financial Technology adjusted revenues were $464 million, reflecting a 10% increase, also supported by higher revenues from all business lines [3] - Solutions business revenues rose 10% year over year to $991 million, driven by strong growth in Index and Financial Technology [3] Market Services and Expenses - Market Services' net revenues increased by 21% year over year to $306 million, surpassing estimates [4] - Adjusted operating expenses were $585 million, an 8% increase from the previous year, reflecting investments in technology and personnel [4] - Adjusted operating income was $721 million, up 16% year over year, with an operating margin of 55%, expanding by 200 basis points [5] Financial Position - As of June 30, 2025, Nasdaq had cash and cash equivalents of $927 million, a 49% increase from the end of 2024 [6] - Long-term debt decreased by 4.4% to $8.7 billion [6] - The company generated $746 million in cash flow from operations during the reported quarter [6] Capital Deployment - Nasdaq returned $155 million to shareholders through dividends and $100 million through stock repurchases in Q2 2025 [9] - The board approved a dividend of 27 cents per share, payable on September 26, 2025 [9] - As of June 30, 2025, $1.5 billion remained under the board-authorized share repurchase program [9] Guidance - Nasdaq raised its 2025 non-GAAP expense guidance to a range of $2.295-$2.335 billion from the previous range of $2.265-$2.325 billion [8][10] - The company forecasts a non-GAAP tax rate for 2025 to be between 22.5% and 24.5% [10]

Core Insights - First American Financial (FAF) reported a second-quarter 2025 operating income per share of $1.53, exceeding the Zacks Consensus Estimate by 9.3%, with a year-over-year increase of 20.5% [1][9] - The company's operating revenues reached $1.8 billion, reflecting a 14.2% year-over-year growth, driven by higher direct premiums, escrow fees, and investment income, surpassing the Zacks Consensus Estimate by 5% [2][9] Financial Performance - Investment income for the quarter was $160 million, marking a 23% increase year over year, which was above the estimate of $157.3 million [2] - Total expenses rose by 6.7% year over year to $1.6 billion, aligning with estimates [2] - Cash flow from operations increased by 33.4% year over year to $355 million [8] Segment Analysis - Title Insurance and Services segment saw total revenues increase by 13.2% year over year to $1.7 billion, with investment income rising 17% to $147 million, primarily due to higher interest income [3] - The average revenue per direct title order increased by 7.7% year over year to $4,112, driven by higher commercial transaction revenues [4] - Home Warranty segment revenues grew by 3.1% to $110.2 million, with a pretax income increase of 35% year over year [5] Corporate Developments - The corporate pretax loss was $40 million, an increase of $17 million compared to the second quarter of 2024, largely due to a one-time executive separation expense [6] - The company ended the quarter with cash and cash equivalents of $2 billion, an 18.2% increase from the end of 2024, and stockholders' equity rose by 4.4% to $5.1 billion [7] Shareholder Actions - FAF repurchased shares worth $61 million during the quarter and approved a $300 million share buyback program in July [7]

Core Insights - TD SYNNEX reported strong Q2 fiscal 2025 earnings, with non-GAAP earnings of $2.99 per share, exceeding estimates by 11.15% and reflecting a 9.5% year-over-year increase [2] - Revenues for the quarter reached $14.9 billion, a 7.2% year-over-year growth, surpassing consensus estimates by 4.38% [2] - The company has seen a positive stock performance, with shares increasing by 5.8% since the last earnings report, outperforming the S&P 500 [1] Financial Performance - Endpoint Solutions revenues were $7.5 billion, showing a 12% year-over-year growth, while Advanced Solutions revenues reached $7.4 billion, reflecting a 2% year-over-year growth [3] - Non-GAAP gross profit increased by 7.5% year-over-year to $1,046.4 million, with a gross margin of 7%, up 2 basis points [3] - Adjusted SG&A expenses rose to $632.3 million from $585.5 million year-over-year, but as a percentage of revenues, they contracted to 4.8% [4] Cash Flow and Shareholder Returns - Cash provided by operational activities was $573.2 million, a significant improvement from a cash outflow of $748 million in the previous quarter [7] - Free cash flow for the quarter was $543 million, compared to a negative $790 million in the prior quarter [7] - The company announced a 10% increase in its quarterly cash dividend to 44 cents per share, demonstrating a commitment to returning value to shareholders [8] Future Guidance - For Q3 fiscal 2025, TD SYNNEX expects revenues between $14.7 billion and $15.5 billion, with non-GAAP earnings projected at $2.75 to $3.25 per share [9] - Non-GAAP net income is anticipated to be between $227 million and $268 million [9] Market Sentiment - Recent estimates for the stock have shown a downward trend, indicating cautious sentiment among investors [10] - The company holds a Zacks Rank 3 (Hold), suggesting an expectation of in-line returns in the coming months [12]

Key Takeaways NOK's Q2 net income declined as Mobile Networks weakness offset growth in other segments.Network Infrastructure revenues rose 8%, led by strong demand in IP, Optical and Fixed Networks.Mobile Networks revenues fell 17% Y/Y due to soft demand across the Americas, the Middle East and China.Nokia Corporation (NOK) reported weaker-than-expected second-quarter 2025 results, with both top and bottom lines missing the Zacks Consensus Estimate. The company's top line increased year over year, primaril ...

Core Insights - O'Reilly Automotive, Inc. (ORLY) reported Q2 2025 adjusted EPS of 78 cents, slightly exceeding the Zacks Consensus Estimate of 77 cents, and up from 70 cents in the prior-year quarter [1][10] - Quarterly revenues reached $4,525 million, missing the Zacks Consensus Estimate of $4,532 million, but reflecting a 6% year-over-year increase [1][10] Financial Performance - Comparable store sales grew by 4.1%, with the company opening 67 new stores in the U.S. and Mexico, bringing the total store count to 6,483 as of June 30, 2025 [2] - Selling, general and administrative expenses rose by 8% year-over-year to $1.41 billion, while operating income increased by 6% to $914 million [3] - Net income for the quarter was $668.6 million, up from $622.8 million in the same quarter last year [3] Share Repurchase and Cash Flow - O'Reilly repurchased 6.8 million shares for $617 million at an average price of $90.71 per share during the quarter, with an additional 1.7 million shares repurchased for $160 million post-quarter [4] - As of June 30, 2025, cash and cash equivalents stood at $198.6 million, up from $145 million a year earlier, while long-term debt increased to $5.82 billion from $5.4 billion [5] - Cash generated from operating activities was $1.51 billion, down from $1.65 billion in the prior year, with capital expenditures totaling $300.7 million compared to $225.4 million a year ago [6] 2025 Outlook - For 2025, O'Reilly revised its revenue estimate to a range of $17.5-$17.8 billion, up from the previous estimate of $17.4-$17.7 billion, and expects EPS between $2.85-$2.95 [7] - Comparable store sales growth is projected at 3-4.5%, an increase from the prior estimate of 2-4%, with free cash flow anticipated between $1.6 billion and $1.9 billion [7] - The company plans to open 200-210 new stores in 2025 [7] Market Position - O'Reilly currently holds a Zacks Rank 3 (Hold) [8] - Competitors with better rankings include Ferrari N.V. (RACE) with a Zacks Rank 1 (Strong Buy), and Gentex Corporation (GNTX) and XPeng Inc. (XPEV) both with a Zacks Rank 2 (Buy) [8]