Financial Performance - Revenue reached €10.3 billion, a 2.5% increase[29] - Operating profit increased by 7.2% to €1.4 billion[12, 29] - Comparable free cash flow was €0.4 billion[12, 29] - Interim dividend per share is €0.79[12, 29] Strategic Initiatives and Growth - The company is targeting €350-400 million in efficiencies by 2028 through a productivity mindset[7, 32] - The company reaffirms FY25 profit and cash guidance[10] - The company expects revenue growth of 3% to 4% for FY25[33] - The company expects operating profit growth of approximately 7% for FY25[33] Market and Portfolio - Non-Alcoholic Ready-To-Drink (NARTD) represents a €170 billion market in 2024[9] - Hot Coffee represents a €9 billion market in 2024[9] - Hot Tea represents a €5 billion market in 2024[9] Shareholder Value - The company has returned approximately €7.8 billion in cash since 2016[7] - The company is executing a new share buyback program of approximately €460 million[13, 29, 33]

Core Insights - Jacobs Solutions reported Q3 FY2025 results with Non-GAAP EPS of $1.62, exceeding the consensus of $1.53, while GAAP revenue was $3.03 billion, slightly below the estimate of $3.07 billion [1][2] - The company achieved a 24.6% year-over-year growth in adjusted EPS, despite a decline in free cash flow [1][2] - Strategic focus remains on high-growth areas such as smart infrastructure, sustainability, and digital transformation [4][15] Financial Performance - Non-GAAP EPS reached $1.62, a 24.6% increase from $1.30 in Q3 FY2024 [2] - GAAP revenue grew 5.1% year-over-year from $2.88 billion in Q3 FY2024 [2][6] - Adjusted net revenue was $2.23 billion, up 7.2% from $2.08 billion in Q3 FY2024 [2] - Adjusted EBITDA increased by 13.5% year-over-year [5] - Free cash flow (non-GAAP) fell 39.1% to $271 million from $445 million [2][8] Business Overview and Strategic Focus - The company operates in infrastructure, advanced facilities, and digital consulting, focusing on sectors like water, energy, and life sciences [3] - Recent strategic initiatives include targeting energy transition, water infrastructure, and digital transformation [4] - The company has made strategic acquisitions and divestitures to enhance its portfolio [4] Market Demand and Growth Drivers - Strong demand in the I&AF division was driven by life sciences, data centers, energy, and transportation [6] - Backlog reached a record $22.7 billion, up 14.3% year-over-year, indicating healthy order intake [7] - PA Consulting segment reported 15% revenue growth year-over-year [6] Capital Returns and Shareholder Value - The company repurchased $653 million in shares, retiring about 4% of shares outstanding in FY2025 [7] - Dividends increased from $0.29 to $0.32 per share, marking consecutive years of dividend growth [9][10] - A 10% dividend increase is planned for FY2025 [15] Future Outlook - Adjusted EPS guidance for FY2025 is raised to $6.00 to $6.10, with a target of approximately 5.5% adjusted net revenue growth [15] - Free cash flow conversion is expected to exceed 100% of net income for FY2025 [15] - Key areas to monitor include backlog conversion, free cash flow generation, and performance in digital and consulting businesses [15]

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Environmental Concerns & Industry Practices - The plastic industry adopted the resin identification code, which resembles the recycling symbol but often misleads consumers about recyclability [3][5][6] - Only plastic types one and two are regularly recycled, despite the presence of the resin identification code on other plastic types [4] - Approximately 98% of single-use plastic production relies on petrochemicals rather than recycling [10] - Microplastics, resulting from plastic breakdown, contaminate food, water, and air, posing health risks [12][13] Consumer Behavior & Misinformation - A 2019 survey indicated that most Americans mistakenly believe the resin identification code signifies recyclability [5] - Consumers are often unaware of the difference between the recycling symbol and the resin identification code, leading to unintentional environmental harm [1][7] - Billions of plastic bottles are discarded annually, with most unlikely to be safely reused [8] Solutions & Recommendations - Individuals should prioritize reusing items like metal bottles and fiber bags to reduce plastic consumption [15] - Consumers should encourage companies to implement reuse programs, similar to deposit-refund systems for glass bottles [16][17] - Stakeholders, including consumers and business leaders, must advocate for responsible corporate decisions regarding plastic use [17]

Financial Data and Key Metrics Changes - Consolidated net sales increased by 6.6% to $380.3 million, setting a new quarterly record [17] - Gross margin improved to 38.3%, reflecting a 150 basis point increase year over year [18] - Adjusted EBITDA reached a record $86.4 million, up 1.4% compared to the prior year [21] - Free cash flow for the quarter was $56 million after $12 million in capital expenditures [9] - Adjusted net income per diluted share increased by 6.3% year over year to $0.34 [22] Business Line Data and Key Metrics Changes - Water Supply Solutions (WSS) net sales increased by 4.1% to $216.6 million, driven by volume growth in iron gate and specialty valves [22] - Water Management Solutions (WMS) net sales rose by 10.2% to $163.7 million, led by strong volume growth in repair products and hydrants [24] - Adjusted operating income for WSS increased by 4.7% to $60.5 million, while WMS saw a 12.6% increase to $30.3 million [23][25] Market Data and Key Metrics Changes - The residential construction market is experiencing a slowdown, particularly in single-family housing starts, which may impact future sales [35] - The municipal repair and replacement market remains strong, driven by the need to repair aging infrastructure [37] Company Strategy and Development Direction - The company aims to enhance operational efficiencies and customer service while navigating external challenges such as tariffs [9][16] - Focus on sustainability and innovative solutions is emphasized, with ongoing investments in facilities and employees [10][30] - The closure of the legacy brass foundry is expected to yield benefits in the upcoming quarters [14][40] Management's Comments on Operating Environment and Future Outlook - Management acknowledges heightened macroeconomic and geopolitical uncertainty but remains optimistic about achieving record results for the second consecutive year [7][9] - The anticipated impact of tariffs has been lower than initially expected, with ongoing efforts to mitigate costs through pricing actions and supply chain initiatives [14][15] - The company is excited about the long-term growth potential in water infrastructure solutions, despite current challenges [30][72] Other Important Information - The company has updated its annual guidance for 2025, increasing net sales expectations by $15 million and adjusted EBITDA by $7.5 million [27][28] - Total debt stands at $451 million, with a strong balance sheet and no debt maturities until June 2029 [26][27] Q&A Session Summary Question: Insights on end markets and stability - Management noted a slowdown in the residential construction market, particularly in single-family housing starts, while the municipal market remains strong [35][37] Question: Margin outlook and FX impact - Management indicated that the FX headwind was a one-time event and that margins are expected to improve moving forward [38][46] Question: Legacy brass foundry impact on margins - The legacy brass foundry closure is expected to improve margins, with the tariff impact being significant in the specialty valve business [44][45] Question: Infrastructure funding and market conditions - Management expressed that infrastructure funding has been slow, but the need for investment in water infrastructure remains critical [70][72] Question: Pricing actions and demand pull forward - No significant pre-buy demand was observed, and pricing adjustments have been made in response to tariffs [62][64]

Financial Data and Key Metrics Changes - The company reported Q3 adjusted earnings per share of $1.90, which is down 1% compared to the same period last year and in line with Q2 results [6][17] - Operating cash flow for the quarter was strong at $249 million, which included a working capital decrease of $101 million [17][18] - Discretionary free cash flow was $114 million, with a cash balance of $239 million at the end of the quarter [18] Business Segment Data and Key Metrics Changes - EBIT for Reinforcement Materials was $128 million, a decrease of $8 million year over year, primarily due to an 8% decline in global volumes [19][20] - Performance Chemicals saw EBIT increase by $2 million year over year, driven by higher gross profit per ton despite an 8% decline in global volumes [21][22] Market Data and Key Metrics Changes - In the Americas, volumes for Reinforcement Materials were down 9% year over year, with Asia Pacific down 11% and Europe up 4% [20] - The battery materials segment increased contribution margin by 20% compared to the same period last year, with a focus on differentiating products for the EV market [11][12] Company Strategy and Development Direction - The company announced the acquisition of Bridgestone's reinforcing carbons plant in Mexico for $70 million, which is expected to be accretive in the first year [8][9] - Sustainability remains a core focus, with the company receiving a platinum rating from EcoVadis for the fifth consecutive year, placing it among the top 1% of companies in the basic chemicals manufacturing sector [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the challenging macroeconomic environment, reaffirming the full-year adjusted earnings per share guidance of $7.15 to $7.50 [27][29] - The company is focused on executing its operating platform of commercial and operational excellence to address uncertainties from tariffs and global demand [28][29] Other Important Information - Capital expenditures for the fiscal year are expected to be between $250 million to $275 million, with $61 million spent in Q3 [18][25] - The company plans to repurchase between $150 million to $200 million of shares in fiscal 2025 [25][24] Q&A Session Summary Question: Relationship between tariffs and demand in North America - Management discussed the dynamic nature of tariffs, noting that passenger car tires from Southeast Asia have tariffs in the 19% to 29% range, while those from China are around 70% [34][35] Question: Differences in volumes between North America and South America - Volumes in the Americas were down 9%, with North America and South America experiencing different impacts due to market conditions and contract season losses [42][43] Question: Impact of tariffs on tire imports and local production - Management indicated that tariffs are expected to enhance the competitiveness of local production, although the timing and magnitude of these effects are uncertain [36][54] Question: Carbon black price negotiations in North America - Early stages of contract negotiations for carbon black prices are underway, following typical seasonal patterns [48] Question: Inventory levels in the tire market - Management noted that tire inventories appear balanced, with some budget brands having elevated levels, but overall, the situation seems to be stabilizing [52][53] Question: Operating leverage from network optimization initiatives - Management explained that network optimization efforts are broad and aimed at improving product mix and cost efficiency, which should favorably impact operating leverage [61][62]

Core Viewpoint - Edible Garden AG Incorporated, a leader in controlled environment agriculture, will host a conference call on August 14, 2025, to discuss its financial results for the second quarter of 2025 and provide a business update [1]. Company Overview - Edible Garden is recognized for its sustainable produce and products, operating under a Zero-Waste Inspired farming model [4]. - The company has over 5,000 retail locations across the U.S., Caribbean, and South America, emphasizing its role in the CEA and sustainability technology movement [4]. - It operates advanced vertically integrated greenhouses and processing facilities in Michigan, Iowa, and New Jersey, and collaborates with contract growers near major U.S. markets [4]. Technology and Innovations - Edible Garden's proprietary GreenThumb 2.0 software optimizes greenhouse conditions and aims to reduce food miles, protected by multiple U.S. patents [5]. - The patented Self-Watering display is designed to extend plant shelf life and enhance in-store presentation [5]. - The company holds patents in advanced aquaculture technologies, including a closed-loop shrimp farming system and a modular recirculating aquaculture setup [5]. Recognition and Product Offerings - Edible Garden has been recognized as a FoodTech 500 firm and is a member of Walmart's Project Gigaton sustainability initiative [6]. - The company markets a range of nutrition and specialty food products, including plant and whey protein powders, and a line of sustainable condiments [6].

Core Insights - Vertiv has launched Vertiv™ OneCore, a scalable prefabricated solution designed to simplify and accelerate high-density data center deployments globally [1][2][3] Product Features - Vertiv OneCore integrates power, thermal, and IT infrastructure technologies into a single factory-assembled system, reducing on-site complexity and compressing project timelines [1][2] - The solution supports scalable power capacity ranging from 5 to 50 MW, catering to the growing energy demands for AI and high-density deployments [5] - It offers high rack density flexibility, configurable for 96 to 944 racks, accommodating low to extreme densities based on IT requirements [5] - Integrated thermal and power systems provide energy-efficient cooling and power infrastructure, utilizing advanced heat rejection systems and scalable UPS systems [5] - The design allows for concurrent maintainability, ensuring system resilience during maintenance or upgrades [5] - Vertiv OneCore operates efficiently in diverse global climates, with temperature support ranging from -20°C to 55°C (-4°F to 131°F) [5] - The solution includes advanced redundancy options for both fluid networks and electrical systems, enhancing reliability [5] - It is compatible with a broad range of voltage inputs, meeting various regional standards [5] Sustainability and Support - Vertiv OneCore supports sustainability strategies through increased efficiency and reduced power requirements, with a flexible design that adapts to evolving technology standards [6] - Comprehensive post-deployment service and support are provided, including expert-led commissioning and proactive maintenance programs [5][6]

2Q 2025 Financial Results August 5, 2025 Overview On January 15, 2025, DuPont de Nemours, Inc. ("DuPont", or after the completion of the Intended Electronics Separation, "New DuPont") announced it is targeting November 1, 2025 to complete the intended separation of its Electronics business (the "Intended Electronics Separation") by way of a spin-off transaction, thereby creating a new independent, publicly traded electronics company ("Qnity Electronics, Inc."). The Intended Electronics Separation will not r ...