Rockwell Automation hitting an all-time high after better than expected sales growth for fiscal 2026. Earnings and revenue also came in higher than expectations. Rockwell also saying it is dissolving its joint venture with SLB.Joining us now exclusively is Rockwell Automation chairman and CEO Blake Morett. Blake, it's great to have you back on the program. Welcome.>> Great to be here. >> You know, uh, Wall Street really seeming to hone in on your guidance for 2026. What does it signal both about the company ...

Core Viewpoint - Aeva Technologies is experiencing a significant decline in stock price following its Q3 2025 financial results, which, despite beating revenue expectations, fell short on earnings, leading to a revised bearish outlook from analysts [1][4][5]. Financial Performance - Aeva reported Q3 2025 revenue of $3.6 million, exceeding analysts' expectations of $2.8 million [4]. - The company reported an adjusted loss per share of $0.46, which was $0.01 below analysts' expectations [4]. Stock Market Reaction - Aeva's shares have dropped 25.3% from the end of trading last Friday to Thursday afternoon [2]. - Roth Capital has revised its price target for Aeva stock from $25 to $20 while maintaining a buy rating [5]. Investment Considerations - Aeva is currently unprofitable, making traditional valuation metrics less applicable [6]. - Investors bullish on the automation industry may find Aeva stock appealing, especially with its ongoing deal with Daimler Truck [6]. - For those with lower risk tolerance, investing in a self-driving car exchange-traded fund (ETF) may be a more suitable option [6][7].

Core Insights - AvidXchange Inc's 2026 Trends Survey indicates that economic pressures are driving middle market finance teams to invest in AI and automation to enhance efficiency and scalability [1][4] Economic Outlook - 86% of finance professionals express concern about the current economic state, indicating a constrained outlook for 2026 [2] - 56% of finance leaders have significantly altered their business plans due to economic uncertainty [3] Technology Adoption - There is a strong push for finance teams to "do more with less," with this sentiment rising to 96% in recent months [3] - Nearly half of the respondents plan to increase investment in AI, which is the top area for new spending, with almost 80% confident in achieving strong ROI [4] Payment Security - 66% of finance teams plan to expand ePayment options or transition primarily to digital payments in the next two years [5] - 43% cite security concerns as the main barrier to adopting new technologies, despite many adopting them to enhance fraud prevention [6] Fraud Prevention - Successful check fraud attacks have decreased to 25%, down from 63% in 2024, while detection of attempted check fraud has doubled [8] - Reports of no check fraud attempts have increased to 36%, compared to just 10% last year [9] Employee Development - Over 50% of finance teams emphasize technology proficiency in hiring, with 76% stating it is more important than in previous years [7] - 59% of accounts payable professionals are actively learning automation and AI skills to keep pace with innovation [7] Future Trends - Automation and AI are now essential for competitiveness in the middle market, with 72% of respondents indicating that technology investments made in 2020 are aiding in navigating current uncertainties [10]

Core Insights - Rockwell Automation exceeded fourth-quarter profit and revenue estimates, driven by cost reductions and ongoing demand for automation solutions [1] Financial Performance - The company reported better-than-expected earnings and revenue for the fourth quarter, indicating strong financial health [1] - The positive results led to a roughly 5% increase in the company's shares during premarket trading [1] Market Demand - Sustained demand for automation products and services contributed significantly to the company's performance [1] - The trend towards automation continues to be a key driver for growth in the industry [1]

Core Insights - EDP has unveiled its 2026–28 Business Plan, focusing on global electrification and data center expansion, with renewables and electricity networks at the core of its growth strategy [1] Investment Strategy - The company plans to invest approximately €12 billion over the next three years, with €7.5 billion allocated to EDP Renewables for wind, solar, and battery projects, primarily in the U.S. [2] - An additional €3.6 billion will be directed towards enhancing electricity networks, with two-thirds of this investment in Iberia [2] Financial Discipline - EDP aims to maintain capital discipline through asset rotation, targeting around €5 billion in proceeds and average annual gains of €200 million, alongside €1 billion in planned disposals [3] - The company plans to keep nominal operating expenses flat at €1.9 billion, targeting an OPEX-to-gross profit ratio of about 26% through automation and AI [3] Financial Projections - EDP reiterated its 2025 EBITDA guidance at approximately €4.9 billion, expecting it to rise to between €4.9 and €5 billion in 2026 and around €5.2 billion by 2028, reflecting a 6% increase from 2025 estimates [4] - Net debt is projected to remain near €16 billion in 2025–26, decreasing to about €15 billion by 2028, supported by stronger cash generation [5] Earnings Outlook - Net income is expected to grow from roughly €1.2 billion in 2025 to about €1.3 billion by 2028, an 8% increase, driven by more stable, regulated revenues [6] - The company plans to raise its dividend floor to around €0.21 per share by 2028, a 5% increase from 2025, with a payout ratio between 60% and 70% [6] Future Growth Opportunities - Beyond 2028, EDP anticipates continued growth from rising power demand due to U.S. and European data center development, with plans to expand its renewables pipeline [7] - Investment needs in electricity networks are expected to remain high, while conventional generation assets will benefit from their flexibility [7]

Core Insights - Affirm Holdings, Inc. is a significant player in the buy now, pay later (BNPL) sector, with quarterly earnings set to be released on November 6, 2025, and Wall Street estimates earnings per share (EPS) at $0.10 and revenue at approximately $882 million [1] - The Internet Software sector, including Affirm, is expected to benefit from advancements in artificial intelligence, cloud computing, and automation, contributing to a projected revenue increase of 26.7% year-over-year, reaching $885 million [2] Financial Performance - Affirm is anticipated to report a revenue increase of 26.7% year-over-year, reaching $885 million [5] - The company has a strong liquidity position with a current ratio of approximately 54.19, indicating ample current assets to cover liabilities [3][5] - However, Affirm's debt-to-equity ratio is about 2.56, suggesting a significant reliance on debt financing relative to equity [3][5] Market Challenges - Despite the positive outlook, Affirm faces challenges from high interest rates and market volatility, which could moderate revenue growth [3][5] - Investors should closely monitor management's discussion during the earnings call to assess the sustainability of price changes and future earnings projections [4]

Financial Data and Key Metrics Changes - Total revenues for Q3 2025 reached $493 million, representing a 9.1% increase year-over-year [14] - Recurring and other revenues amounted to $467 million, up 10.6% year-over-year [14] - GAAP net income was $111 million, or $1.96 per diluted share, including a one-time gain of approximately $26 million [14] - Non-GAAP net income increased 17% year-over-year to $110 million, or $1.94 per diluted share [15] - Adjusted EBITDA rose 13% year-over-year to $194 million, with an adjusted EBITDA margin of 39%, a 150 basis point increase from the prior year [15] Business Line Data and Key Metrics Changes - The launch of the AI product IWant has led to a significant increase in user engagement, particularly among C-suite executives [6][7] - Beti, another automation solution, has shown to reduce payroll processing labor by up to 90% and has attracted former clients back to the company [8][9] Market Data and Key Metrics Changes - The average daily balance on funds held for clients was approximately $2.5 billion in Q3 2025, up 9% year-over-year [18] - Interest on funds held for clients declined 11% year-over-year to $27 million in Q3 2025 [14] Company Strategy and Development Direction - The company is focused on enhancing automation and product innovation, with significant investments in data centers and AI capabilities [10][17] - A $100 million investment in AI-focused CapEx has been made to support the rollout of IWant and future AI developments [10][17] - The company aims to capture more market share, with less than 5% penetration of the total addressable market in the U.S. [38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving double-digit organic recurring revenue growth and expanding adjusted EBITDA margins for the full year [15][19] - The demand environment remains strong, with expectations for continued growth and retention improvements [38] Other Important Information - The company repurchased $319 million of common stock in the open market, returning over $1 billion to shareholders since the beginning of 2023 [17] - The board approved a quarterly dividend of $0.37 per share, payable in mid-December [18] Q&A Session Summary Question: Concerns about Beti levels - Management acknowledged changes in guidance and emphasized strong performance despite concerns about Beti levels [24] Question: Impact of IWant on sales - Management reported increased engagement from C-suite executives and noted that IWant is driving new user adoption [27] Question: Cost of service efficiencies - Management indicated that operational efficiencies are expected to materialize in 2026, with a focus on automation [34] Question: Demand environment characterization - Management confirmed strong demand and noted that they create their own demand with less than 5% market penetration [38] Question: CapEx investments and free cash flow - Management stated that the $100 million CapEx investment is largely complete and does not expect similar spending in the near future [51] Question: Opportunities for new product development - Management confirmed ongoing efforts to build more products on the platform to serve broader use cases [53] Question: IWant's impact on product attach rates - Management noted that IWant is driving increased product utilization and reducing the need for training [59] Question: Layoff impact on cost savings - Management indicated that cost savings from layoffs will be part of future guidance, focusing on automation without displacing employees unnecessarily [61] Question: Q4 growth expectations - Management expressed confidence in Q4 growth, noting that it is expected to be above Q3 levels [65] Question: Marketing spend effectiveness - Management emphasized strategic marketing spend and the expectation of returns from these investments [67] Question: Revenue translation from strong bookings - Management clarified that the timing of deal starts affects revenue recognition, with no significant changes expected [70] Question: Demand dynamics between customer segments - Management confirmed that demand remains strong across both high-end and mid-market segments [72] Question: Monetization of IWant - Management indicated that IWant will primarily drive increased sales and retention rather than direct monetization [75] Question: Execution catalysts for stock performance - Management highlighted a focus on revenue growth and capturing market share as key execution catalysts [81] Question: Stickiness of IWant - Management reported consistent usage of IWant, noting its ease of access and the removal of previous usage impediments [88]

Financial Data and Key Metrics Changes - Total revenues for Q3 2025 were $493 million, representing a 9.1% increase year-over-year [12] - Recurring and other revenues reached $467 million, up 10.6% year-over-year [12] - GAAP net income was $111 million, or $1.96 per diluted share, including a one-time gain of approximately $26 million [12] - Non-GAAP net income increased 17% year-over-year to $110 million, or $1.94 per diluted share [13] - Adjusted EBITDA rose 13% year-over-year to $194 million, with an adjusted EBITDA margin of 39%, a 150 basis point increase from the prior year [13] Business Line Data and Key Metrics Changes - The launch of the AI product "Iwant" has led to strong engagement, particularly among C-suite executives, with thousands already utilizing the system [5][6] - The payroll automation solution "Betty" has reduced payroll processing labor by up to 90% and has attracted former clients back to Paycom [7][9] Market Data and Key Metrics Changes - The average daily balance on funds held for clients was approximately $2.5 billion, up 9% year-over-year [17] - Interest on funds held for clients declined 11% year-over-year to $27 million in Q3 2025 [12] Company Strategy and Development Direction - The company is focused on automation and product innovation, with significant investments in data centers to support AI initiatives [10][15] - Paycom aims to capture more of the total addressable market, currently at less than 5% in the U.S., by enhancing sales strategies and product offerings [34][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year revenue guidance of $2.45 billion to $2.55 billion, with expectations for continued organic growth [18] - The company anticipates a strong 2026 and beyond, driven by product innovation and operational efficiencies [18][70] Other Important Information - The company repurchased $319 million of common stock in the open market, returning over $1 billion to shareholders since the beginning of 2023 [16] - A quarterly dividend of $0.37 per share was approved, payable in mid-December [17] Q&A Session Summary Question: Concerns about Beti levels and economic impact - Management noted changes in guidance and emphasized strong performance despite historical trends [22] Question: Impact of Iwant on lead generation and sales - Iwant has significantly increased engagement among executives and is expected to drive sales pipeline growth [25] Question: Usage patterns of Iwant among executives - New users predominantly utilize Iwant, changing their interaction with the system [30] Question: Demand environment and sales cycles - Demand remains strong with a differentiated product offering, capturing available market opportunities [34] Question: CapEx investments and free cash flow outlook - The $100 million CapEx for data centers is largely complete, with no major CapEx expected in the near future [37] Question: Recurring revenue results and workforce levels - Recurring revenue growth was in line with expectations, with stability in employment numbers noted [42] Question: Strategies for new logo acquisition and maintaining growth - The focus is on streamlining the sales process and enhancing client value to drive new logo acquisition [44] Question: Stickiness of Iwant and user engagement - Iwant has shown strong usage consistency, with users finding it easier to access information [75]

Industry Overview - The Internet Software industry is expected to report modest-to-solid revenue growth for Q3 2025, driven by technological innovations in AI, cloud computing, and automation [1][4][10] - Steady demand for AI-powered software solutions, sustained cloud migration, and expanding enterprise IT budgets are anticipated to support this growth [2][3] Key Players and Performance Expectations - Leading companies such as Backblaze (BLZE), Datadog, Inc. (DDOG), JFrog (FROG), Affirm Holdings (AFRM), and Block (XYZ) are expected to benefit from increased adoption and subscription renewals [2][10] - Backblaze's revenues are projected at $36.95 million, reflecting a 13.37% year-over-year increase, driven by strong demand in its B2 Cloud Storage business [9] - Datadog's revenues are estimated at $849.77 million, indicating a 23.15% year-over-year growth, supported by strong momentum in its security and AI-focused offerings [14] - JFrog's revenues are expected to be between $127 million and $129 million, with a year-over-year increase of 17.73% anticipated [17] - Affirm Holdings is projected to report revenues of $885.01 million, representing a 26.7% year-over-year rise [19] - Block's revenues are estimated at $6.34 billion, indicating a 6.12% year-over-year increase [22] Growth Catalysts - AI and generative AI are major growth catalysts, enhancing productivity and customer engagement across various sectors [3] - The expansion of cloud and edge computing capabilities, along with increased data-center investments, is expected to further support revenue growth [3] Challenges - The industry's performance may be affected by macroeconomic factors such as high interest rates and market volatility, which could dampen investor sentiment [4][10] - Companies with strong AI features, solid cloud platforms, and flexible SaaS models are likely to outperform their peers despite these challenges [4]

Financial Data and Key Metrics Changes - Q3 2025 revenues for lift trucks were $929 million, reflecting a 4% decline compared to the prior year, primarily due to lower truck volumes across all product lines [14][15] - Operating profit declined by $27 million year over year, mainly driven by lower truck volumes and higher tariff costs [16] - Q3 operating cash flow improved by nearly 25% from Q2, reaching $37 million, largely driven by improved inventory performance [18] Business Line Data and Key Metrics Changes - Lift truck bookings rose to $380 million in Q3, up from $330 million in Q2, with gains led by the EMEA and JPEC regions [5] - Bolzoni's Q3 revenues dropped 11% year over year to $87 million, primarily due to the planned phase-out of lower-margin legacy components and softer lift truck demand in the US [17] Market Data and Key Metrics Changes - Overall lift truck market demand declined across all regions and most product categories compared to Q2, with many customers postponing capital expenditures [5] - In the Americas, truck volumes fell significantly, particularly in higher-value Class 4 and 5 trucks, due to reduced manufacturing output amid demand uncertainty [15] Company Strategy and Development Direction - The company is implementing targeted initiatives to increase bookings and enhance market participation, including expanding product offerings to modular and scalable lift truck models [6][9] - The competitive landscape is changing rapidly, with increasing pressure from low-cost foreign competitors, particularly in South America and Europe [9] Management's Comments on Operating Environment and Future Outlook - Management noted that ongoing macroeconomic uncertainty, largely due to tariffs and interest rate discussions, is causing delays in customer order conversions [6] - The expectation is for demand to remain soft in the near term, with production rates adjusted to reflect actual booking and cancellation trends [11] Other Important Information - The company's backlog stood at $1.35 billion at the end of Q3, down from $1.65 billion in Q2, driven by fewer trucks shipped [10] - Direct tariff costs totaled $40 million in Q3, significantly impacting demand levels across various end markets [22] Q&A Session Summary Question: How does the current demand uncertainty compare to previous cycles? - Management indicated that while the market remains active with requests for quotes, decision-making is slow due to volatility in the environment, including concerns about tariffs and interest rates [32][33] Question: What actions could be taken if demand further degrades? - The company is reviewing all cost structures and production utilization, preparing for a conservative posture while remaining ready to ramp up if bookings increase [36] Question: What is the status of the modular scalable platform and lithium-ion strategy? - The modular scalable products have received positive feedback in key markets, and the company is launching integrated lithium-ion solutions in North America and Europe [37][38] Question: Are there specific verticals experiencing more headwinds? - Management noted a slowdown in heavy manufacturing, particularly in the auto sector, while light manufacturing and distribution have been stable [42] Question: What is the outlook for the fourth quarter? - The company expects Q4 revenue to decline compared to Q3 due to lower production rates and persistent tariff headwinds, projecting a moderate operating loss [24]