Core Viewpoint - APA Corporation is expected to report third-quarter results on November 5, with an estimated earnings per share of 74 cents and revenues of $2.04 billion, reflecting a decline in revenues compared to the previous year [1][8]. Group 1: Previous Performance - In the last reported quarter, APA exceeded consensus estimates with adjusted earnings per share of 87 cents and revenues of $2.6 billion, surpassing the Zacks Consensus Estimate by over 26% [2]. - The company has had mixed results in the past four quarters, beating estimates in two and missing in the other two, resulting in an average surprise of 24.89% [3]. Group 2: Revenue and Earnings Estimates - The Zacks Consensus Estimate for third-quarter 2025 earnings indicates a 26% decline year over year, while revenues are expected to decrease by 19.52% compared to the previous year [3][8]. - Revenues from APA's core oil, natural gas, and natural gas liquids segment are projected to drop by 26.1% year over year, with a 27.2% decline in revenues from purchased oil and gas sales [5]. Group 3: Cost Management - APA's total expenses are anticipated to reach $1.46 billion in the third quarter, representing a 49.2% decrease from the same period last year [6][8]. - Significant reductions in costs are expected across key segments, including lease operating expenses, which are projected to fall from $418 million to $405 million, and gathering, processing, and transmission costs, expected to decline from $123 million to $95.4 million [6].

Core Insights - United Parcel Service (UPS) exceeded analysts' profit expectations for Q3 and forecasted revenue above Wall Street's expectations for the holiday season, relying on price increases to counteract weak business-to-business demand in the U.S. [1][2] - UPS's shares rose 8.9% in premarket trading, while rival FedEx gained 2.5%. However, UPS shares have declined approximately 28% since the beginning of the year [1]. Financial Performance - UPS projected fourth-quarter revenue to be around $24 billion, surpassing analysts' average expectation of $23.8 billion [2]. - The company reported an adjusted profit of $1.74 per share for the three months ending September 30, exceeding analysts' average expectation of $1.30 [6]. - Consolidated revenue for UPS was $21.41 billion, above the expected $20.83 billion [6]. - The adjusted consolidated operating margin was 10%, an increase from 8.8% in Q2, while the domestic segment margin decreased to 6.4% from 7% in Q2 [7]. Strategic Initiatives - UPS is focusing on rate hikes, cost reductions, and prioritizing high-margin shipments to stabilize its business ahead of the holiday season [3]. - The company is reducing the number of packages delivered for its largest customer, Amazon, to enhance profit margins [4]. - UPS is undergoing a significant overhaul to cut $3.5 billion in costs by 2025, which includes closing hundreds of facilities and reducing its workforce [6]. Market Context - The peak holiday shipping season, when UPS's daily average volumes can double, runs from November to the end of January [5].

Core Viewpoint - Procter & Gamble (PG) is experiencing fluctuations in its consensus price target, reflecting changes in analyst expectations and company performance [1][2][5] Price Target Analysis - The average price target for PG decreased from $168.25 in the previous quarter to $164.5, indicating a downward trend in analyst expectations [2][5] - Deutsche Bank has set a price target of $177, suggesting a more optimistic outlook compared to the average [2] Earnings and Performance Outlook - PG is set to release its first-quarter earnings on October 24, with expectations on the lower side due to recent performance [3] - The company is actively working on cost reduction and revamping its cost base, which may enhance long-term performance [3][5] Market Position and Growth Potential - PG has underperformed relative to the S&P 500 and its staple peers, but there is potential for recovery and above-average market growth [4][5] - Despite expected declines in Q1 earnings, PG's strategic initiatives and earnings reports are crucial for assessing future performance [4][5]

Financial Data and Key Metrics Changes - The company reported a decline in sales and brand partner productivity leading up to the global convention in August, but recent activity has shown improvement [4][7] - An increase in inventories was noted, attributed to new product introductions and investments in inventory locations for tariff mitigation [8] - The company expects to incur a one-time charge of $4.7 million in the fourth quarter due to a global cost reduction process [12] Business Line Data and Key Metrics Changes - Hiya Health experienced a 26% year-to-date sales growth despite challenges in the third quarter, with significant progress in integration initiatives [9] - RiseBar reported record third quarter net sales, with year-to-date net sales increasing by 169% [10][11] - The company is investing additional resources in Hiya Health and RiseBar to capitalize on current momentum and drive long-term growth [11] Market Data and Key Metrics Changes - The Americas and Europe regions performed relatively better than other regions, partly due to the performance of RiseBar [23] - The direct selling business has struggled over the past few years, but recent enhancements in offerings are expected to improve performance [34] Company Strategy and Development Direction - The company is focused on a comprehensive commercial strategy that includes an enhanced compensation plan, product innovation, and improved tools for brand partners [4][6] - Diversification is a key part of the company's strategy, with ongoing growth in Hiya Health and RiseBar [13][38] - The company plans to continue investing in its commercial strategy and explore M&A opportunities to expand its portfolio [39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth potential of the direct selling business and the diversification strategy [13] - The company is optimistic about the future, citing renewed excitement and engagement from brand partners following the compensation plan enhancements [7][20] - The broader industry has faced challenges, but there is a positive outlook due to increasing consumer awareness of the importance of supplements [34][51] Other Important Information - The company has initiated a global cost reduction process, including right-sizing its workforce to prioritize strategic goals [11][12] - Management is focused on improving operational efficiencies and margins through in-house manufacturing capabilities for Hiya Health products [10][31] Q&A Session Summary Question: Can you walk us through the trajectory of your business trends from July through October? - Management noted promising trends from the new compensation plan launched in July, with increased engagement and excitement among brand partners [18][19] Question: Why did the Americas and Europe region perform better? - The performance was attributed to the global convention and the contribution from RiseBar, which has seen improved sales [23] Question: What incentives are planned for the fourth quarter? - The company plans to provide strategic incentives for brand partners, which will likely carry over into early 2026 [24] Question: What are the reasons for the decline in Hiya Health's active customer count? - Management acknowledged challenges due to changes in Meta's algorithms but remains confident in Hiya's growth potential [25] Question: What are the expected annualized operating cost savings from the right-sizing process? - Management indicated that it is early in the process and will provide more details in February [27] Question: Are there opportunities for further DTC acquisitions? - The company is committed to diversification and will explore M&A opportunities to strengthen its portfolio [38]

Financial Data and Key Metrics Changes - In Q3, the company reported net sales of $10 billion, with EBITDA at $868 million, reflecting a sequential improvement despite being lower than the same period last year [5][6][7] - Cash provided by operating activities increased by $1.6 billion sequentially, driven by working capital improvements and advanced payments for low-carbon solutions [7][16] Business Line Data and Key Metrics Changes - The packaging and specialty plastics segment saw net sales decline year-over-year and sequentially, with operating EBIT at $199 million, primarily due to lower integrated margins [11][12] - The industrial intermediates and infrastructure segment experienced a 4% year-over-year decline in net sales but saw a sequential increase due to volume gains and lower planned maintenance activity [12][13] - Performance materials and coatings segment net sales were $2.1 billion, down 6% year-over-year and 2% sequentially, with operating EBIT decreasing due to upstream margin compression [14] Market Data and Key Metrics Changes - Global demand in the packaging market remains steady, with North America experiencing record domestic and export volumes, while Europe contracted [18][19] - The infrastructure sector faces soft market conditions across the U.S., Europe, and China, with mortgage rates in the U.S. remaining above 6% [18][19] Company Strategy and Development Direction - The company is focused on restoring core earnings and positioning for profitable growth, with over $6.5 billion in strategic actions and cash support planned [32][33] - The company is committed to being a low-cost producer, with over 75% of its global cracking capacity in a top-quartile cost position, expected to increase to approximately 80% [29][30] Management's Comments on Operating Environment and Future Outlook - Management noted a cautious operating environment with subdued business investment and consumer spending due to economic uncertainty, but anticipates potential positive influences from recent monetary policy shifts [18][21] - For Q4, the company expects EBITDA to be approximately $725 million, with anticipated headwinds from higher feedstock costs and normal seasonality impacting performance [21][22] Other Important Information - The company has completed significant strategic actions, including a $3 billion partnership for U.S. Gulf Coast infrastructure assets and a $1.4 billion bond issuance for financial flexibility [8][16] - The company is on track to deliver approximately $400 million in targeted cost savings this year, contributing to improved performance [9][10] Q&A Session Summary Question: Reconciliation of Q3 results - Management highlighted higher integrated margins and better-than-expected volume as key factors for exceeding expectations in Q3 [37][39] Question: Rationalization and project cancellations - Management provided insights on global capacity rationalization, particularly in ethylene supply, and noted potential delays in announced capacity in China due to market conditions [44][46] Question: Polyethylene demand - Polyethylene demand has remained stable, with strong performance in packaging and personal care segments, and expectations for continued stability [62][63] Question: Demand function and order books - October order books appear positive, with management maintaining a balanced outlook for Q4 sales and EBITDA guidance [73][75]

3Q 2025 Results October 23, 2025 Agenda ▪ 3Q25 Highlights ▪ Operating Segment Performance ▪ Actions to Provide Greater Financial Flexibility and Improved Profitability ▪ Outlook ▪ Industry Opportunities Non-GAAP measures are defined in the appendix 3Q 2025 Highlights Delivered Solid Results, Cost Savings Actions, and Near-Term Cash Support 3 $10.0B Net Sales $868MM Operating EBITDA $249MM Returned to Shareholders ▪ Operating EBITDA was $868MM, up $165MM QoQ ▪ Total CapEx for the quarter was $564MM ▪ Cash Fl ...

Accessibility StatementSkip Navigation MIDLAND, Mich., Oct. 23, 2025 /PRNewswire/ -- Dow (NYSE: DOW):Â 3Q25 FINANCIAL HIGHLIGHTS SUMMARY FINANCIAL RESULTSÂ | Three Months Ended Sep 30 | Three Months Ended Jun 30 | | | | | | --- | --- | --- | --- | --- | --- | | | | | vs. | | vs. | | | | | SQLY | | PQ | | In millions, except per share amounts | 3Q25 | 3Q24 | | 2Q25 | | | | | | [B / | | [B / | | | | | (W)] | | (W)] | | Net Sales | $9,973 | $10,879 | $(906) | $10,104 | $(131) | | GAAP Income (Loss) Net of Tax ...

Financial Data and Key Metrics Changes - In Q3 2025, the company reported a pretax income of $48 million and a net income of $37 million, representing a 710% increase sequentially [15] - Adjusted net income was $46 million or $1.52 per diluted share, while EBITDA for the quarter was $70 million and adjusted EBITDA was $82 million [16] - Home sales revenues for Q3 were $955 million, down 2% sequentially, with deliveries of 2,486 homes declining by 4% [16] - The average sales price increased by 2% quarter over quarter to $384,000, benefiting from a higher percentage of deliveries from the West and Mountain regions [16] Business Line Data and Key Metrics Changes - The adjusted homebuilding gross margin was 20.1%, up from 20% in Q2, while GAAP homebuilding gross margin increased to 17.9% from 17.6% [17] - Direct construction costs decreased by 3% year to date, contributing to improved margins despite higher incentives [10][15] - Net new contracts of 2,386 homes declined by 6% sequentially, which was better than the historical average decline of 9% [11] Market Data and Key Metrics Changes - The company ended Q3 with a community count of 321, which increased by 5% year over year [12] - The finished lot costs increased in the mid-single digit range year over year and sequentially, but are expected to remain flat in Q4 [13] - Adjustable rate mortgages (ARMs) accounted for close to 20% of the mortgages originated in Q3, up from less than 5% in Q1 [14] Company Strategy and Development Direction - The company aims to increase its community count by mid-single digits by year-end 2025, focusing on increasing market share in existing markets [6][7] - The strategy includes maintaining cost controls, improving operational efficiencies, and investing in processes and systems for future growth [7][10] - The company plans to continue repurchasing shares and maintaining dividends while navigating current market headwinds [21][22] Management's Comments on Operating Environment and Future Outlook - Management noted that homebuyer demand has been muted due to weaker consumer confidence, but there is pent-up demand for affordable homes [6] - The expectation is that any relief in interest rates and improvement in consumer confidence will unlock buyer demand [6] - The company anticipates that incentives will be the largest driver of changes to gross margins in the near term, with an expected increase in incentives for Q4 [12][19] Other Important Information - The company completed a private offering of $500 million of senior notes due 2033, using proceeds to redeem existing senior notes due 2027 [20] - The tax rate for Q3 was 21.8%, driven by 45L tax credits received in excess of previous estimates, with a full-year tax rate expected between 24.5% and 25.5% [20] Q&A Session Summary Question: Regarding the adjusted gross margin exceeding guidance, was this due to cost controls or reduced incentives? - Management indicated that the margin improvement was due to a combination of prudent cost controls and moderated incentives, with direct costs down 3% year to date [25][26] Question: How will the shift in buyers' use of adjustable rate mortgages impact the business? - Management noted that ARMs have gained acceptance, particularly among first-time homebuyers, allowing for lower initial rates without needing to buy down a fixed rate for 30 years [27][28] Question: Can you clarify the community count guidance and the expected ramp-up in Q4? - Management confirmed that the community count is expected to increase by around 5% year over year, with consistent monitoring throughout the year [30][32] Question: What is the outlook for SG&A costs and the factors driving lower costs year over year? - Management highlighted operational efficiencies and headcount adjustments as key factors, with a focus on maintaining efficiency in the competitive market [37][39] Question: Can you provide more details on the lots the company walked away from this quarter? - Management explained that they are underwriting to current market conditions and have exited near-term projects that did not fit current underwriting criteria [40][41]

Core Insights - Coca-Cola is a leading beverage company with a diverse portfolio, including Coca-Cola Zero Sugar and Fuze Tea, competing with giants like PepsiCo and Nestlé in the nonalcoholic ready-to-drink segment [1] Financial Performance - Evercore ISI set a price target of $82 for Coca-Cola, indicating a potential upside of 15.14% from its current trading price of $71.22, supported by strong financial performance [2][6] - Coca-Cola's revenue grew by 5% year-over-year, reaching $12.5 billion, driven by price increases and a 1% rise in unit case volume [3] - The company's comparable operating margin improved to 31.9% from 30.7% in the previous year, with adjusted earnings per share rising by 6% to $0.82, surpassing Wall Street's expectations [4][6] Market Position - Coca-Cola's market capitalization is approximately $306.5 billion, with a trading volume of 33.6 million shares on the NYSE, indicating resilience in the competitive beverage industry [5]

Core Insights - FORVIA reported third-quarter 2025 sales of €6.12 billion, stable on an organic basis, but down 3.7% year-over-year due to negative currency effects [1][8][24] - The company confirmed its full-year 2025 guidance, maintaining targets for sales, operating margin, net cash flow, and leverage [3][25][29] Financial Performance - Consolidated sales in Q3 2025 were impacted by a €238 million negative currency effect, primarily from the euro's depreciation against the USD and RMB [8][24] - Organic growth in product sales was 1.1%, with solid growth in Electronics, Clean Mobility, and Lifecycle Solutions [7][10][11] - The company experienced a 440 basis points underperformance compared to global automotive production, which grew by 4.4% [8][15] Segment Analysis - **Seating**: Reported a decline of 12.7% in sales, affected by an unfavorable customer mix in China [9][11] - **Electronics**: Achieved a 14.3% increase in sales, driven by strong demand for radars and battery management systems [9][11] - **Interiors**: Experienced a slight decline in organic sales, primarily due to normalization of tooling sales [12] - **Clean Mobility**: Recorded strong growth, particularly in North America, benefiting from electrification trends [13] - **Lifecycle Solutions**: Returned to growth after five quarters of decline, driven by commercial vehicle business [13] Regional Performance - **EMEA**: Sales decreased by 2.5% on an organic basis, impacted by production shutdowns and market slowdowns [16][17] - **North America**: Organic sales advanced by 5.8%, driven by growth with US and Japanese car manufacturers [18] - **Asia**: Organic sales declined by 2.7%, with China down 7.4% due to an unfavorable customer mix [18][19] Strategic Initiatives - The company is focused on cost reduction and financial discipline through its EU-FORWARD initiative, which includes job reductions and a global SIMPLIFY program aimed at reducing costs by €110 million by 2028 [21][22] - FORVIA successfully raised approximately €1.3 billion in new financing to refinance short-term obligations and enhance its financial profile [23][24]