Financial Data and Key Metrics Changes - Loans held for investment increased by $83 million, or 0.6% linked quarter, and $448 million, or 3.4% year-over-year [4] - Deposit base grew by $550 million, or 3.4% linked quarter, with non-interest-bearing deposits increasing by 5.9% linked quarter [4] - Net income for the third quarter was $56.8 million, representing fully diluted EPS of $0.94, up 2.2% from the prior quarter and 11.9% from the prior year [4][5] - Return on average assets was 1.21% and return on average tangible equity was 12.84% [5] - Net interest income expanded by 2.4% to $165.2 million, with a net interest margin of 3.83%, an increase of two basis points from the prior quarter [5] Business Line Data and Key Metrics Changes - Credit quality remained solid with net charge-offs of $4.4 million, representing 13 basis points of average loans [6] - Non-interest income totaled $39.9 million, up 0.1% linked quarter and 6.3% year-over-year [5] - Non-interest expense increased by $5.8 million, or 4.7% linked quarter, including approximately $2.3 million in non-routine items [5] Market Data and Key Metrics Changes - The company reported a solid trend in criticized loans, with a decrease of about $49 million in the quarter, totaling a decline of $123 million for the first three quarters of the year [34] Company Strategy and Development Direction - The company is focused on organic growth initiatives and has added customer relationship managers in key markets [3][4] - The guidance for loans held for investment is expected to increase in mid-single digits for the full year 2025, with low single-digit growth in deposits [8] - The company plans to maintain a disciplined approach to capital deployment, focusing on organic loan growth and potential market expansion [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about maintaining net interest margin in the range of 3.80% to 3.83% despite potential short-term headwinds [31][44] - The company anticipates a proactive approach to share repurchase as capital levels continue to build [17][60] - Management highlighted the competitive landscape in the market, noting that M&A activity presents opportunities for growth [21][26] Other Important Information - The company repurchased $11 million of common stock during the quarter, with a total of $37 million repurchased in the first nine months of the year [6][7] - A quarterly cash dividend of $0.24 per share was declared, payable on December 15 [7] Q&A Session Summary Question: Can you provide details on hiring and future plans? - The company hired approximately 29 new associates in Q3, with a focus on key markets like Houston and Atlanta [12] Question: Will there be an increase in expenses due to hiring? - Yes, the company expects a slight increase in expenses related to new hires, with additional non-routine costs factored in [14][15] Question: How does the company view M&A opportunities? - Management sees M&A as a potential opportunity but emphasizes a focus on organic growth strategies [21][26] Question: What are the trends in classified and criticized loans? - There has been a positive trend with a decrease in criticized loans, contributing to lower provisioning [34] Question: How does the company plan to manage deposit costs? - The company aims to maintain deposit costs while managing competitive pressures and anticipates a drop in deposit costs following Fed rate cuts [43][44]

Financial Data and Key Metrics Changes - Organic sales grew by 5% in Q3 2025, with adjusted EBITDA reaching a record $147 million, exceeding initial guidance of $140 million to $145 million [20][30] - Adjusted EBITDA growth would have been 10% when excluding the graphics business divestiture [20] - Adjusted EBITDA margin improved by approximately 20 basis points year over year in constant currency terms, with a margin of 28% when excluding the impact of pass-through metal sales [24][29] Business Line Data and Key Metrics Changes - The electronics segment achieved 7% organic growth, driven by strong performance in semi and assembly, and exceptional volume growth in circuitry solutions [20][23] - Circuitry solutions sales grew 13% organically, supported by demand for data center applications and mobile phone activity [25] - Industrial and specialty organic net sales were flat year over year, but underlying chemistry volumes for the industrial solutions vertical were up mid-single digits [26] Market Data and Key Metrics Changes - The electronics business is projected to exceed $2 billion in revenue following the acquisition of Micromax, which is expected to contribute approximately $40 million of adjusted EBITDA on a full-year basis [17][18] - The offshore business continues to grow, driven by stable energy prices and drilling activity, although a slowdown in drilling activity is anticipated into 2026 [72] Company Strategy and Development Direction - The acquisition of Micromax is seen as a strategic move to enhance the electronics portfolio and is expected to be more than 5% accretive to adjusted EPS [18][19] - The company is focused on disciplined investment in markets it understands and growth businesses that are better under its ownership [18] - Future growth levers include new product introductions in high-value categories and substantial remaining balance sheet capacity for further investments [19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting full-year 2025 adjusted EBITDA to be between $545 million and $550 million, indicating a positive outlook despite market volatility [30] - The company anticipates continued robust demand in leading-edge electronics driven by high-performance computing and data centers [32] - Management noted that while EV volumes are expected to decline, there are substantial customer wins and growth opportunities in power electronics [74] Other Important Information - The company generated $84 million of adjusted free cash flow in Q3 2025, with a net leverage ratio of 1.9 times at the end of the quarter [27][28] - The Micromax transaction is expected to be funded with a combination of cash on hand and modest incremental debt, maintaining financial flexibility for future opportunities [28] Q&A Session Summary Question: Thoughts on Micromax's performance under Element Solutions - Management is excited about Micromax's integration, expecting it to outperform the market due to enhanced connectivity in the supply chain and modest cost synergies [37][38] Question: Update on Kouprion commercialization activities - The mid-scale site for Kouprion is on track to be operational by year-end, with meaningful sales and profits expected next year [40][41] Question: Growth stability of Micromax - Micromax's growth has been stable, with a strong product portfolio that is sticky and specialized for demanding applications [46] Question: Capital flexibility and leverage considerations - The company maintains a long-term target ceiling for leverage at 3.5 times, with plenty of capacity for incremental capital deployment [47] Question: Sustainability of offshore business strength - The offshore business is expected to sustain growth, driven by stable energy prices and ongoing drilling activity [72] Question: Margin performance in industrial solutions - There is potential for further margin expansion in the industrial business as volume growth recovers [68]

, /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced higher third quarter 2025 results and affirmed full-year 2025 net income and adjusted EBITDA guidance ranges. Higher Third Quarter 2025 Results, Compared With Third Quarter 2024: Record Rocky Mountain Region Volumes FINANCIAL HIGHLIGHTS: ONEOK announces higher third quarter 2025 earnings and affirms 2025 net income and adjusted EBITDA guidance ranges. ONEOK's third quarter 2025 earnings results were driven primarily by the positive impact of the ...

Financial Data and Key Metrics Changes - The company reported net income of $106.1 million or $0.53 per diluted share for Q3 2025, with operating earnings of $74.1 million, reflecting a 44% increase year-over-year [10][11] - Operating return on assets (ROA) was 1.16%, up 34 basis points from the prior year, while return on average tangible common equity increased 300 basis points to 11.7% [6][11] - The efficiency ratio improved from 59.7% to 52.8%, driven by higher revenues and effective expense management [10][11] Business Line Data and Key Metrics Changes - Total loans grew 1.3% linked quarter and 4.1% year-to-date, primarily driven by strong commercial lending results [7][16] - Wealth management assets under management reached a record high of $9.2 billion, driven by market appreciation and modest positive net flows [8][13] - Non-interest income was $41.3 million, down $1.6 million from the second quarter, with wealth management fees accounting for nearly half of total non-interest income [12][13] Market Data and Key Metrics Changes - Period-end deposits totaled $21.1 billion, a decrease of $104 million or less than 1% from Q2, with a favorable deposit mix benefiting the company [15] - The company remains fully deposit funded with essentially no wholesale funding, enhancing balance sheet strength [15] - The commercial real estate loan portfolio stands at $7.4 billion, with a focus on local markets and diversified by sector [19][20] Company Strategy and Development Direction - The company is focused on organic growth and the integration of the HarborOne merger, which is expected to close on November 1 [5][22] - The strategy includes expanding the commercial banking division and enhancing wealth management capabilities [51] - The company plans to return capital to shareholders through share repurchases and consistent dividend growth [9][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the future, citing strong profitability and the potential for organic growth following the HarborOne merger [5][22] - The company remains cautious about credit quality but is optimistic about overall trends [18] - Management emphasized the importance of maintaining a strong deposit base amid heightened competition [15] Other Important Information - The company announced the resumption of its share repurchase program, authorizing up to 11.9 million shares [9][17] - The tangible book value per share increased by 5% from June 30 to $13.14 [9] - The company is committed to enhancing shareholder value through strategic investments and operational efficiencies [4][22] Q&A Session Summary Question: Thoughts on margin stability and future trends - Management indicated that core margin may hold steady in Q4, with competitive pressures on deposits likely to impact it [24][25] Question: Expense outlook for Q4 - Management expects expenses to remain flat or decrease slightly in Q4, with some inflation in tech expenses [27] Question: Appetite for additional deals post-HarborOne merger - The focus remains on organic growth and the integration of HarborOne, with no immediate plans for further mergers [28][30] Question: Wealth management asset growth breakdown - The increase in assets under management was predominantly market-driven, with net flows being slightly positive [35] Question: Update on office loan exposure - Management clarified that the increase in non-performing loans was due to one specific loan, which is being monitored closely [40][42] Question: Spot margin for September - The spot margin was reported at 3.48%, slightly higher than the previous quarter [44] Question: Long-term growth areas within the business - Management highlighted opportunities in commercial lending and wealth management as key areas for future growth [51][52]

Core Insights - The company reported record results for Q3 2025, with earnings per share (EPS) and adjusted EPS of $2.6, reflecting a year-over-year increase of over 40% [5][41] - Despite facing headwinds in two of its business segments, the company achieved double-digit organic revenue growth across its core segments [40][41] - The leadership emphasized the importance of long-term investments in talent and capabilities, which have contributed to the company's resilience and growth trajectory [38][63] Financial Performance - Total revenue for Q3 2025 was $956.2 million, a 3.3% increase compared to the same quarter last year [41] - Net income rose to $82.8 million, marking a 25% increase year-over-year [41] - Adjusted EBITDA for Q3 2025 was $130.6 million, representing 13.7% of revenue, compared to 11.1% in the prior year quarter [42] Segment Performance - Corporate Finance (Corp Fin) revenue increased by 18.6% to $404.9 million, driven by higher demand for restructuring and transaction services [44] - FTI's Financial and Litigation Consulting (FLC) segment saw a revenue increase of 15.4% to $194.7 million, attributed to higher realized bill rates and demand for risk and investigation services [48] - The Economic Consulting segment experienced a revenue decline of 22% to $173.1 million, primarily due to lower demand for antitrust services [50] Strategic Focus - The company is committed to organic growth and enhancing its service offerings, particularly in high-demand areas such as cybersecurity and risk investigations [25][63] - Investments in talent acquisition have been prioritized, with 79 senior management and affiliate hires announced year-to-date, significantly higher than previous years [61][63] - The leadership believes in the potential for continued rate increases across all segments, although the pace may moderate compared to the current year [76] Guidance and Outlook - The company updated its full-year 2025 revenue guidance to a range of $3.685 billion to $3.735 billion, with EPS expected between $7.62 and $8.12 [60] - The fourth quarter is typically weaker due to seasonal business slowdowns, but the company remains optimistic about stabilizing its economic consulting business and gradual revenue growth [61][63] - The leadership expressed confidence in the long-term growth potential of the company, emphasizing resilience and the ability to navigate market challenges [38][63]

Financial Data and Key Metrics Changes - Valley National Bancorp reported net income of approximately $163 million or $0.28 per diluted share, up from $133 million or $0.22 in the previous quarter, marking the highest quarterly profitability since the end of 2022 [3] - The annualized return on average assets exceeded 1%, achieving many profitability goals ahead of schedule [3][4] - Non-interest income has grown at an annual rate of 15% since 2017, three times faster than publicly traded peers [6] Business Line Data and Key Metrics Changes - Core deposits increased by about $1 billion during the quarter, with nearly 110,000 new deposit accounts contributing to a nearly 10% growth in core deposits [5][10] - Gross loans decreased modestly due to targeted runoff in transactional C&I and commodity subsegments, with average loans increasing by 0.5% during the quarter [11] - Non-interest income continued strong momentum, with deposit service charges growing due to expanded treasury management capabilities [12][13] Market Data and Key Metrics Changes - Brokered deposits now comprise 11% of the total deposit base, the lowest level since Q3 2022 [10] - The pipeline for C&I and CRE loans is currently at $3.3 billion, indicating strong demand and activity in the market [52] Company Strategy and Development Direction - The company is focused on enhancing its commercial and consumer banking sectors, with new leadership in place to drive growth [4] - Valley aims to leverage its strong foundation to accelerate strategic initiatives, particularly in healthcare C&I and capital call lines [8][41] - The company is targeting low single-digit loan growth for 2026 and beyond, with a focus on diversifying its balance sheet [36][64] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future prospects, citing strong customer growth, talent acquisition, and profitability [9] - The company anticipates continued stability in credit performance and expects to sustain low charge-off levels [15][91] - Management is confident in achieving a 15% return on equity target by late 2027 or early 2028, driven by net income expansion and margin improvement [70] Other Important Information - The efficiency ratio continues to improve, with expectations for further progress as positive operating leverage is generated [14] - The company remains well-capitalized, with regulatory capital ratios increasing and plans for share repurchases [16] Q&A Session Summary Question: Competitive backdrop regarding C&I loans and deposit costs - Management noted a decline in spot deposit costs and emphasized the competitive environment for new deposit relationships, with a focus on repricing the backbook [18][19] Question: Capital allocation and buyback opportunities - Management indicated a near-term CET1 target of around 11% and expressed confidence in using buybacks as a capital deployment strategy [22][23] Question: Geographic distribution of C&I and CRE - The company reported a balanced distribution of originations across different geographies, with strong performance in Florida [26][27] Question: Fee income outlook for capital markets and insurance businesses - Management anticipates general stability in fee income for the fourth quarter, with positive momentum expected in capital markets [29] Question: Increase in non-accrual loans - Management clarified that the increase was primarily due to a construction loan migration, with no anticipated losses [32][33] Question: Timeline for non-accrual balances to decline - Management expressed optimism about the resolution of non-accruals, citing positive trends in the C&I market [87][88] Question: Profitability improvement outlook - Management reiterated confidence in achieving the 15% return on equity target, supported by net income expansion and controlled credit costs [70][91]

Core Insights - As of September 30, 2025, Savencia Fromage & Dairy Group reported a slight decline in net sales by 1% compared to 2024, primarily due to a 4% unfavorable currency impact from South American currency devaluations, while organic growth remained resilient at +2.8% [4][3] Financial Performance - Net sales amounted to €5,033 million, down from €5,082 million in the previous year, reflecting a -1.0% change [2] - Cheese Products generated sales of €2,861 million, a decrease of 0.6% from €2,879 million, with organic growth at +0.5% [2][5] - Other Dairy Products saw sales of €2,353 million, down by 1.2% from €2,380 million, but achieved an organic growth of 5.6% [2][6] Market Context - The dairy economy is characterized by record milk prices in the third quarter, particularly in France, amidst a volatile geopolitical and economic environment [7] - The Group's structural effect of 0.3% growth is attributed to the integration of Ugalait since July 2, 2024 [4] Strategic Initiatives - Savencia is focused on adapting and investing in its various businesses to respond to market uncertainties, emphasizing product quality and team dedication [8] - The company is committed to decarbonization, aiming for a -1.5°C trajectory by 2035 and "Net Zero by 2050," with ongoing energy efficiency programs [10]

Core Viewpoint - The Simply Good Foods Company reported solid financial results for fiscal year 2025, with net sales increasing by 9% and a focus on integrating the OWYN acquisition while navigating inflationary pressures and evolving consumer habits [2][11][12]. Financial Performance - For the fourth quarter of fiscal year 2025, net sales were $369.0 million, a decrease of 1.8% year-over-year, primarily due to a 6.9% headwind from lapping an extra week in the previous year [3][6]. - Organic net sales growth was 3.5%, with the OWYN acquisition contributing $5.6 million, or 1.5%, to reported net sales growth [3][11]. - Gross profit for the fourth quarter was $126.6 million, down 13.3% from the previous year, with a gross margin of 34.3%, reflecting a 450 basis point decrease due to elevated input costs [5][12]. Operating Expenses - Operating expenses increased to $138.4 million, up $40.3 million year-over-year, with selling and marketing expenses decreasing by $8.4 million due to planned reductions for the Atkins brand [7][13]. - General and administrative expenses were $40.6 million, slightly down from the previous year, with a notable decrease in costs excluding integration expenses [7][13]. Net Income and Earnings - The company reported a net loss of $12.4 million for the fourth quarter, compared to a net income of $29.3 million in the prior year, resulting in a loss per diluted share of $0.12 [6][9]. - Adjusted EBITDA for the fourth quarter was $66.2 million, a decrease of 14.5% from $77.5 million in the previous year [9][10]. Fiscal Year 2025 Summary - For the full fiscal year 2025, net sales reached $1,450.9 million, a 9% increase driven by a 7.9% contribution from the OWYN acquisition and 3.0% organic growth [11][15]. - Gross profit for the year was $525.7 million, up 2.8% year-over-year, with a gross margin of 36.2%, reflecting a decrease of 220 basis points due to inflationary pressures [12][15]. Balance Sheet and Cash Flow - At the end of fiscal year 2025, the company had cash of $98.5 million and a term loan balance of $250.0 million, having repaid over $200.0 million of its debt during the year [18][19]. - Cash flow from operations was approximately $178.5 million, down from $215.7 million in the previous year, primarily due to higher working capital needs [19]. Outlook for Fiscal Year 2026 - The company anticipates a balanced outlook for fiscal year 2026, with expectations for net sales growth between -2% and +2% year-over-year and a decline in gross margins by 100 to 150 basis points [24][21]. - Increased marketing spending is planned for Quest and OWYN, with expectations for stronger performance in the second half of the fiscal year [21][22].

Financial Performance Overview - For 9 months of 2025, the Group's revenues reached €1,326 million, a decrease of 2% year-on-year, with flat organic growth[15, 20] - In Q3 2025, consolidated revenues were €398 million, flat year-on-year, but with a 4% increase in organic growth[16, 20] Brand Performance in Q3 2025 - ZEGNA brand revenues grew organically by 6%, reaching €249 million, driven by strong DTC channel performance[16, 20] - Thom Browne revenues decreased organically by 5% to €48 million, showing improvement compared to the first half of the year due to DTC acceleration[16, 20] - TOM FORD FASHION revenues increased organically by 4% to €66 million, supported by double-digit growth in the DTC channel[16, 20] Revenue by Geographic Area in Q3 2025 - EMEA revenues grew organically by 3%[23, 25] - Americas revenues increased organically by 13%[23, 25] - Greater China Region revenues decreased organically by 7%, showing sequential improvement[23, 25] Revenue by Distribution Channel in Q3 2025 - DTC revenues reached €297 million, with a 9% organic growth rate[27, 29] - Wholesale branded revenues decreased organically by 15%[27, 29] Retail Store Network - As of September 30, 2025, the total number of DTC stores was 472, compared to 461 at December 31, 2024, and 453 at September 30, 2024[43] - The total number of Wholesale stores was 198 at September 30, 2025, compared to 203 at December 31, 2024, and 211 at September 30, 2024[43]

Core Insights - Coca-Cola Company reported third-quarter adjusted earnings per share of 82 cents, exceeding the analyst consensus estimate of 78 cents [2] - The company experienced a 6% year-over-year increase in organic sales, with unit cases up 1% [4] - Bank of America Securities analyst Peter T. Galbo reiterated a Buy rating on Coca-Cola, raising the price forecast from $78 to $80, citing the company's strong strategy and performance [3] Financial Performance - Coca-Cola Zero Sugar grew by 14%, with growth across all geographic segments, while Diet Coke/Coca-Cola Light grew by 2%, mainly in North America and Asia Pacific [2] - Price and mix contributed 6 points to organic sales growth, with 4 points from pricing and 2 points from mix [4] - The company ended the third quarter with improved two-year volume trends, particularly in September [3] Market Outlook - Mid-single-digit organic growth is anticipated through 2026, with a growth rate of 4% to 6% expected as volumes gradually firm [6][4] - Emerging markets, including Mexico and Southeast Asia, are facing macro pressures and slower recoveries, which could impact overall performance [4] - The refranchising in Africa is expected to be completed by the end of the year, which will structurally improve profit margins by 2027 [7] Analyst Commentary - Galbo describes Coca-Cola as "best in class" with a balanced portfolio that supports both investment markets and profit engines [3] - The analyst notes that large-cap peers may struggle to match Coca-Cola's growth pace [5] - Currency translation and commodity costs are potential pressures on performance, alongside emerging-market volatility [7]