Core Insights - Diamondback Energy, Inc. reported strong financial and operational results for Q2 2025, with significant increases in production and cash flow metrics [1][2][9]. Financial Performance - Q2 2025 net income was $699 million, or $2.38 per diluted share, with adjusted net income of $785 million, or $2.67 per diluted share [9]. - Net cash provided by operating activities for Q2 2025 was $1.7 billion, with consolidated adjusted EBITDA of $2.4 billion [11][12]. - Free cash flow for Q2 2025 was $1.2 billion, with adjusted free cash flow of $1.3 billion [12]. Operational Highlights - Average oil production reached 495.7 MBO/d, with total equivalent production of 919.9 MBOE/d for Q2 2025 [7][35]. - The company drilled 122 gross wells and completed 116 gross wells in Q2 2025, with a total of 248 gross wells drilled and 239 completed in the first half of 2025 [4][8]. Capital Expenditures and Shareholder Returns - Cash capital expenditures for Q2 2025 totaled $864 million, with a full-year guidance reduction to $3.4 - $3.6 billion [7][18]. - The company declared a base cash dividend of $1.00 per share, representing a 2.7% annualized yield based on the closing share price of $146.14 on August 1, 2025 [7][16]. - Diamondback repurchased approximately 3 million shares for $398 million in Q2 2025 and increased its share repurchase authorization to $8 billion [17]. Updated Guidance - The company narrowed its full-year oil production guidance to 485 - 492 MBO/d and increased annual BOE guidance by 2% to 890 - 910 MBOE/d [7][18]. - Q3 2025 oil production guidance is set at 485 - 495 MBO/d, with cash capital expenditures expected to be between $750 - $850 million [7][18].

Delivered Record Quarterly Operating Income in Fourth Quarter Generated Record Adjusted Free Cash Flow in Fourth Quarter Completed Most Profitable Year in Company History Fiscal Year 2026 Outlook 26% to 33% Higher Than Record Fiscal Year 2025 PHILADELPHIA, July 31, 2025 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE: CRS) (the "Company") today announced financial results for the fiscal fourth quarter and year ended June 30, 2025. For the quarter, the Company reported operating income of $151.4 m ...

Core Insights - GFL Environmental Inc. reported a strong second quarter in 2025, with a revenue increase of 9.5% year-over-year, driven by organic price and volume growth [2][5][6] - The company achieved an Adjusted EBITDA of $515.1 million, reflecting a 14.6% increase compared to the same period in 2024, and an Adjusted EBITDA margin expansion of 230 basis points to 30.7% [5][6] - GFL has raised its full-year 2025 Adjusted EBITDA guidance to between $1.950 billion and $1.975 billion, indicating confidence in continued growth despite macroeconomic challenges [2][8][13] Financial Performance - Revenue for Q2 2025 was $1,675.2 million, with 8.3% organic growth excluding divestitures, and 5.8% from core pricing [5][6] - Year-to-date revenue reached $3,235.3 million, a 10.9% increase excluding divestitures [6] - Adjusted Free Cash Flow for Q2 2025 was $137.1 million, up from $111.0 million in Q2 2024, primarily due to increased Adjusted EBITDA and reduced cash interest paid [6][7] Strategic Outlook - The company maintains a robust M&A pipeline and is optimistic about meeting or exceeding its capital deployment targets for 2025 [2][5] - GFL's strategic plan focuses on driving industry-leading growth and optimizing existing operations to improve Adjusted Free Cash Flow conversion [2][5] - The updated guidance for 2025 assumes a USD/CAD exchange rate of 1.37, reflecting adjustments from previous forecasts [8][9]

Financial Performance - Q2 2025 - Total revenues increased by 19.9% to $759.1 million compared to $633.4 million in Q2 2024[7] - GAAP net income for fully diluted shares increased by 39.8% to $28.8 million from $20.6 million in Q2 2024[7] - Adjusted Earnings per share (EPS) increased by 40.9% to $0.31 from $0.22 in Q2 2024[7] - Adjusted EBITDA increased by 32.1% to $114.0 million from $86.3 million in Q2 2024[7] Financial Performance - YTD 2025 - Total revenues increased by 20.7% to $1,424.6 million compared to $1,179.9 million YTD 2024[7] - GAAP net income for fully diluted shares increased by 916.1% to $16.1 million from $(2.0) million YTD 2024[7] - Adjusted Earnings per share (EPS) increased by 40.5% to $0.52 from $0.37 YTD 2024[7] - Adjusted EBITDA increased by 35.7% to $203.2 million from $149.8 million YTD 2024[7] Business Segments - Management Services, Servicing Fees & Other revenues increased by 13.6% to $298 million in Q2 2025 compared to $263 million in Q2 2024[16] - Leasing & Other Commissions revenues increased by 13.8% to $237 million in Q2 2025 compared to $209 million in Q2 2024[16] - Capital Markets revenues increased by 37.9% to $223 million in Q2 2025 compared to $162 million in Q2 2024[16] Balance Sheet & Cash Flow - Adjusted Free Cash Flow (AFCF) increased by 148% to $95.9 million in Q2 2025 compared to $38.7 million in Q2 2024[35] - Adjusted Free Cash Flow (AFCF) increased by 121% to $228.0 million TTM 2Q 2025 compared to $103.0 million TTM 2Q 2024[35] - Net leverage ratio as of June 30, 2025, was 1.4x, with TTM Adjusted EBITDA of $498.7 million[12, 28]

Financial Performance - FTAI Aviation reported Q2 2025 Revenue of $676 million[10] - Net Income for Q2 2025 was $162 million[10] - Adjusted EBITDA for Q2 2025 reached $348 million[10] - The company generated $370 million in Adjusted Free Cash Flow in 1H 2025[10] Strategic Capital Initiative (SCI) - FTAI invested $109 million in 1H 2025 as a 20% minority equity interest in the 2025 Partnership[42] - SCI is targeting final closing by Q4 2025 and aims to deploy $4 billion in capital[42] - MRE Contract YTD Revenue from SCI reached $170 million[42] Aerospace Products - Q2 2025 Aerospace Products Revenue was $490 million, equivalent to an annualized ~9% industry market share[16] - Module production rose 33% to 184 CFM56 modules in Q2 2025[16] - Aerospace Products Adjusted EBITDA was $165 million in Q2 2025 with a 34% margin[11,27] Aviation Leasing - Aviation Leasing generated $199.3 million in Adjusted EBITDA for Q2 2025[11,64] - The company sold 45 aircraft to SCI from FTAI's balance sheet for approximately $475 million[44]

Core Insights - Republic Services, Inc. reported a net income of $550 million, or $1.75 per diluted share, for Q2 2025, an increase from $512 million, or $1.62 per diluted share, in Q2 2024 [1][9] - Adjusted net income for Q2 2025 was $556 million, or $1.77 per diluted share, compared to $509 million, or $1.61 per diluted share, in the same period last year [1][9] - The company achieved double-digit growth in EBITDA and a 100 basis points expansion in adjusted EBITDA margin [2] Financial Performance - Total revenue for Q2 2025 was $4.235 billion, a 4.6% increase from $4.048 billion in Q2 2024, with 3.1% organic growth and 1.5% from acquisitions [9][14] - Year-to-date cash flow from operations was $2.13 billion, with adjusted free cash flow of $1.42 billion [8][31] - The company invested nearly $900 million in acquisitions during the first half of 2025 [8] Dividend and Shareholder Returns - The Board of Directors approved a quarterly dividend increase of 4.5 cents, bringing the total to $0.625 per share, payable on October 15, 2025 [4] - Year-to-date cash returned to shareholders was $407 million, including $362 million in dividends and $45 million in share repurchases [8] Guidance and Outlook - Full-year 2025 revenue is expected to be in the range of $16.675 billion to $16.750 billion, with adjusted EBITDA guidance reiterated at $5.275 billion to $5.325 billion [8][9] - Adjusted diluted earnings per share guidance remains between $6.82 and $6.90, while adjusted free cash flow guidance has been increased to $2.375 billion to $2.415 billion [8][9] Operational Metrics - The average recycled commodity price per ton sold was $149, a decrease of $24 per ton compared to the previous year [8] - The company completed and commenced operations on four renewable natural gas projects during the quarter [8] Cost Structure - Total cost of operations for Q2 2025 was $2.449 billion, representing 57.9% of revenue, compared to 58.8% in Q2 2024 [16] - Selling, general and administrative expenses were $425 million, or 10.0% of revenue, slightly down from 10.1% in the prior year [17] Business Segments - Revenue from the collection segment was $2.822 billion, accounting for 66.6% of total revenue, while landfill revenue was $516 million, representing 12.2% [14] - Environmental solutions generated $462 million in revenue, making up 10.9% of total revenue [14] Performance Metrics - Adjusted EBITDA for Q2 2025 was $1.361 billion, with an adjusted EBITDA margin of 32.1%, an increase of 100 basis points from the previous year [19][21] - The company reported a net income margin of 13.0%, up from 12.6% in Q2 2024 [19]

Core Insights - Aon plc reported second-quarter 2025 adjusted earnings of $3.49 per share, exceeding the Zacks Consensus Estimate by 2.7% and reflecting a 19.1% increase year-over-year [1][10] - Total revenues rose 11% year-over-year to $4.2 billion, surpassing the consensus mark by 0.7%, with organic revenue growth at 6% [1][10] Financial Performance - The strong quarterly results were driven by new business growth and solid retention rates, particularly in Aon's Risk Capital and Human Capital segments, aided by NFP acquisition synergies and net restructuring savings [2] - Total operating expenses increased 6% year-over-year to $3.3 billion, influenced by higher costs from the NFP acquisition and long-term growth investments [3] - Adjusted operating income advanced 14% year-over-year to $1.2 billion, with an adjusted operating margin of 28.2%, improving by 80 basis points year-over-year [4] Segmental Performance - **Risk Capital**: - Commercial Risk Solutions saw organic revenues grow 6% year-over-year, with revenues of $2.2 billion, an 8% increase [5] - Reinsurance Solutions experienced organic revenue growth of 6%, with revenues increasing 8% year-over-year to $688 million, surpassing the consensus estimate [6] - **Human Capital**: - Health Solutions reported organic revenue growth of 6%, with revenues climbing 17% year-over-year to $772 million, exceeding the consensus estimate [7] - Wealth Solutions saw organic revenues improve 3% year-over-year, with revenues growing 12% to $519 million, though it missed the consensus mark [8] Financial Position - As of June 30, 2025, Aon had cash and cash equivalents of $1 million, down from $1.1 billion at the end of 2024, while total assets increased to $54 billion from $49 billion [11] - Long-term debt decreased to $15.5 billion from $16.3 billion, with total short-term debt and current portion of long-term debt at $1.8 billion [11] - Cash flow from operations rose to $796 million from $513 million a year ago, with adjusted free cash flows increasing 59% year-over-year to $732 million [12] Capital Deployment - Aon repurchased 0.7 million class A ordinary shares for approximately $250 million in the second quarter, with a remaining repurchase capacity of around $1.8 billion [13] Forward Guidance - Aon expects mid-single-digit or higher organic revenue growth for 2025 and beyond, with anticipated expansion in adjusted operating margin and strong growth in adjusted EPS [14] - The Aon United Restructuring program is projected to achieve annual run-rate savings of approximately $350 million by the end of 2026 [15]

Core Insights - Waste Connections reported strong second quarter results for 2025, with revenue of $2.407 billion, a 7.1% increase from $2.248 billion in the same period last year [2][6] - The company achieved a net income of $290.3 million, or $1.12 per diluted share, compared to $275.5 million, or $1.07 per diluted share, in the prior year [5][30] - Adjusted EBITDA for the quarter was $786.4 million, reflecting a 7.5% increase from $731.8 million in the previous year, with an adjusted EBITDA margin of 32.7% [3][6] Financial Performance - For the first half of 2025, revenue reached $4.635 billion, up from $4.321 billion in the same period last year [4][5] - Operating income for the first six months was $849.8 million, compared to $791.5 million in the prior year [4] - Adjusted net income for the first half was $626.2 million, or $2.42 per diluted share, compared to $588.7 million, or $2.28 per diluted share, in the previous year [7][30] Operational Highlights - The company experienced solid waste core pricing growth of 6.6%, contributing to margin expansion of approximately 70 basis points [1][6] - Employee retention and record low safety rates were noted as key factors driving performance [1][6] - Waste Connections completed approximately $200 million in annualized revenue from acquisitions, with a strong pipeline for further growth [1][6] Updated Outlook - The company maintains its full-year 2025 outlook, projecting approximately $9.45 billion in revenue and $3.12 billion in adjusted EBITDA, with an adjusted EBITDA margin of 33.0% [8][12] - Revenue growth is expected to be around 6%, with an adjusted EBITDA margin expansion of 50 basis points [1][8] - The outlook assumes no significant changes in the current economic environment or underlying trends [8][12]

Financial Performance - Matador achieved record quarterly oil equivalent production of 209,013 BOE/d in Q2 2025[8, 14] - The company's leverage ratio stood at 096x as of June 30, 2025[26] - Adjusted Free Cash Flow for Q2 2025 was $1327 million[46, 90] - Matador bought back 11 million shares in Q2 2025 at an average repurchase price of $4037, representing approximately 1% of shares outstanding[31] Capital Expenditure and Efficiency - Q2 2025 D/C/E CapEx was $3453 million, $15 million less than the midpoint of guidance[14] - Q2 2025 Midstream CapEx was $562 million, $4 million less than the low end of guidance[14] - Drilling and Completion Cost decreased to $825 per completed lateral foot in Q2 2025[20] Production and Guidance - Oil production guidance for Q3 2025 is 1165 to 1180 MBbl/d, and natural gas production is 4920 to 4980 MMcf/d[62] - Total production guidance for Q3 2025 is 1985 to 2010 MBOE/d[62] - The company expects to turn to sales 135 gross (1063 net) operated horizontal wells in 2025, with an average completed lateral length of approximately 10,300 feet[60, 64] Midstream Operations - San Mateo's Adjusted EBITDA for 2025 is estimated at $285 million[70] - The Marlan Plant expansion was completed on time and on budget in May 2025, with a gas processing capacity of 720 MMcf per day and a water disposal capacity of 475,000 Bbl per day[23]

Financial Performance & Guidance - Hess Midstream projects 2025 Adjusted EBITDA to be between $1,235 million and $1,285 million[7,64] - The company anticipates 2025 Adjusted Free Cash Flow to range from $735 million to $785 million[7,64] - Hess Midstream targets at least 5% annual DPS (Distribution Per Share) growth through at least 2027[7,9,11] - The company expects approximately 10% growth in oil and gas volumes in 2025[10,65] Contractual & Operational Highlights - Approximately 80% of Hess Midstream's revenues are protected by Minimum Volume Commitments (MVCs) in 2025[7,10,65] - Hess Midstream's commercial contracts with Hess extend through 2033, providing long-term stability[7,20,21,22] - The company has approximately 500 MMcf/d of gas processing capacity[33,41] - Hess Midstream has financial flexibility exceeding $1.25 billion expected through 2027 for potential share repurchases[7,10,12] Capital Allocation & Leverage - Hess Midstream targets a conservative leverage ratio of 30x[7] - The company expects leverage to decline to below 30x Adjusted EBITDA by the end of 2025[10,65]