Core Insights - Zillow Group reported Q3 2025 adjusted EPS of 44 cents, missing the Zacks Consensus Estimate of 45 cents, but reflecting a 25.7% year-over-year increase [1][8] - Total revenues reached $676 million, exceeding the Zacks Consensus Estimate of $669 million, and showing a 16.4% year-over-year improvement [1][8] Revenue Breakdown - For-sale revenues increased by 9.9% to $488 million, with residential revenues of $435 million rising 7.4% year over year, supported by growth in agent and software offerings [2] - Mortgage revenues surged 35.9% year over year to $53 million, driven by a 57% increase in purchase loan origination volume to $1.3 billion [2] - Rental revenues grew 41.5% year over year to $174 million, primarily due to a 62% increase in multifamily revenue [3] Cost and Profitability - The adjusted EBITDA margin improved by 200 basis points to 24% of revenues, amounting to $165 million, attributed to strong revenue growth and cost discipline [3] - However, the cost of revenues rose 32.1% year over year to $185 million, influenced by increased lead acquisition costs and ad-serving expenses [4] User Engagement - Online traffic on Zillow's mobile applications and sites increased by 7% year over year, reaching 250 million average monthly unique users, with visits improving by 4% to 2.5 billion [3] Financial Position - Zillow ended Q3 2025 with $1.4 billion in cash and investments, up from $1.2 billion at the end of the previous quarter [5] Future Outlook - For Q4 2025, Zillow expects total revenues between $645-655 million and adjusted EBITDA of $145-155 million, with for-sale revenues projected to grow in the high single digits [6] - Rental revenues are anticipated to rise over 45% year over year, driven by accelerated multifamily revenue growth [7] - For the full year 2025, management projects mid-teens revenue growth and rental revenue growth of around 40% year over year, along with adjusted margin expansion and positive GAAP net income [7]

Core Insights - Sonim Technologies reported a 45% sequential increase in revenue for Q3 2025, reaching $16.2 million, driven by demand for its new product portfolio and the successful launch of the MegaConnect HPUE mobile hotspot [1][6][8] - The company narrowed its net loss to $4.8 million in Q3 2025, an improvement from a net loss of $7.5 million in Q2 2025, attributed to reduced operating expenses and improved sales [1][11] - Strategic initiatives approved by stockholders included a reverse stock split and an increase in authorized shares to 1 billion, aimed at enhancing future capital transaction flexibility [7][8] Financial Highlights - Net revenue for Q3 2025 was $16.2 million, up from $11.2 million in Q2 2025, reflecting strong demand for the Sonim XP Pro and XP Pro Thermal products [6][8] - Gross profit for Q3 2025 was $1.8 million, representing 11% of revenues, compared to $0.8 million or 8% of revenues in Q2 2025 [9] - Operating expenses decreased to $5.8 million in Q3 2025 from $7.6 million in Q2 2025, primarily due to reduced sales and marketing costs [10] Business Developments - The successful launch of the MegaConnect HPUE mobile hotspot with AT&T and FirstNet marked a significant achievement for the company [2][6] - Sonim entered into a definitive agreement with NEXA Mobility to sell substantially all of its assets for $15 million in cash, with an additional potential earn-out of $5 million [6][8] - Stockholders elected five director nominees to the Board of Directors, indicating a commitment to governance and strategic oversight [6][8] Balance Sheet and Capital Management - As of September 30, 2025, Sonim had $2.1 million in cash, $3.5 million in trade accounts receivable, and $11.0 million in inventory [12][16] - The company raised approximately $4.8 million from equity offerings during the quarter, which was utilized for one-time expenses and financing new product launches [6][12] - A reverse stock split at a ratio of 1-for-18 was approved to help regain compliance with Nasdaq listing requirements [7][8]

Core Insights - Mammoth Energy Services reported a total revenue of $14.8 million for Q3 2025, a decrease from $17.1 million in Q3 2024 and $16.4 million in Q2 2025 [3][4] - The company experienced a net loss from continuing operations of $12.1 million, or $0.25 per diluted share, compared to a loss of $8.9 million, or $0.18 per diluted share, in Q3 2024 [4][22] - Adjusted EBITDA from continuing operations was ($4.4) million for Q3 2025, worsening from ($2.9) million in Q3 2024 [5] Financial Overview - Total liquidity as of September 30, 2025, was approximately $153.4 million, with no debt, providing financial flexibility [3][12] - The infrastructure services segment generated $4.8 million in revenue, up from $4.4 million in Q3 2024, driven by increased fiber optic activity [6] - The rental services segment reported revenue of $2.8 million, an increase from $2.2 million in Q3 2024, attributed to expanded aviation rental offerings [7] - Revenue from natural sand proppant services fell to $2.7 million, down from $4.9 million in Q3 2024, with a decrease in sales volume and average sales price [8] - Accommodation services revenue decreased to $2.3 million from $2.9 million in Q3 2024, with average room utilization dropping [9] - Drilling services revenue increased to $2.3 million from $1.6 million in Q3 2024, primarily due to higher utilization [10] Operational Highlights - Selling, general and administrative expenses decreased to $5.2 million from $6.8 million in Q3 2024, mainly due to lower legal fees [11] - Capital expenditures for Q3 2025 totaled $17.3 million, primarily for the expansion of the aviation rental fleet [14] - As of October 29, 2025, unrestricted cash on hand was $106.6 million, with total liquidity increasing to $166.7 million [13]

Core Insights - The Marcus Corporation reported a 9.7% decrease in total revenues for the third quarter of fiscal 2025, amounting to $210.2 million compared to $232.7 million in the same period last year [8][10] - The company experienced a significant decline in operating income, which fell by 30.7% to $22.7 million from $32.8 million year-over-year [8][10] - Net earnings decreased to $16.2 million, down from $23.3 million in the prior year, with earnings per diluted share at $0.52 compared to $0.73 [8][10] Marcus Theatres Performance - Total theatre revenues for the third quarter were $119.9 million, reflecting a 16.6% decrease from the previous year [5][30] - Same store admission revenues decreased by 15.8%, with attendance down 18.7% due to a less favorable film mix [6][30] - Adjusted EBITDA for the theatre division was $22.1 million, a 33.4% decrease from the prior year [5][30] Marcus Hotels & Resorts Performance - Total revenues for Marcus Hotels & Resorts increased by 1.7% to $80.3 million, driven by growth in food and beverage revenues [10][11] - Division operating income decreased by $0.7 million to $16.4 million, impacted by increased depreciation expenses [10][11] - Adjusted EBITDA for the hotels and resorts segment was $23.1 million, a slight increase of 0.3% compared to the previous year [10][11] Share Repurchase and Capital Return - The company repurchased 0.6 million shares for $9 million during the third quarter, with a total of over $25 million returned to shareholders in the past four quarters [2][14] - The Board of Directors authorized the repurchase of up to 4.0 million additional shares, increasing the total available for repurchase to 4.7 million shares [15][16] Future Outlook - The company anticipates a stronger film slate for the remainder of the year, with several highly anticipated releases expected to drive box office performance [9][10] - The hotel segment is expected to benefit from stable leisure travel demand and strong group business, particularly at newly renovated properties [12][10]

Core Insights - Charter Communications reported its financial and operational results for Q3 2025, highlighting a competitive environment and a focus on free cash flow growth for shareholder value creation [2][4]. Financial Performance - Total revenue for Q3 2025 was $13.7 billion, a decline of 0.9% year-over-year, primarily due to lower residential video and advertising sales revenues, partially offset by growth in residential connectivity revenue [4][14]. - Net income attributable to Charter shareholders was $1.1 billion, down 11.2% from the previous year [4][25]. - Adjusted EBITDA for the quarter was $5.6 billion, a decrease of 1.5% year-over-year [4][27]. - Free cash flow remained consistent at $1.6 billion, supported by lower cash taxes and favorable working capital [4][31]. Customer Metrics - As of September 30, 2025, Charter had approximately 31.1 million customer relationships, a decrease of 2.0% year-over-year [3][4]. - Total Internet customers declined by 109,000 in Q3 2025, with a total of 29.8 million Internet customers served [4][9]. - Mobile lines increased by 493,000, totaling 11.4 million mobile lines as of the end of Q3 2025 [4][6]. - Video customers decreased by 70,000, with a total of 12.6 million video customers [4][7]. Revenue Breakdown - Internet revenue grew by 1.7% year-over-year to $6.0 billion, driven by promotional rate step-ups and rate adjustments [4][16]. - Mobile service revenue increased by 19.2% year-over-year to $954 million, attributed to mobile line growth [4][16]. - Video revenue decreased by 9.3% to $3.4 billion, impacted by a decline in video customers and a higher mix of lower-priced video packages [4][17]. - Voice revenue fell by 7.9% to $332 million, reflecting a decline in wireline voice customers [4][18]. Operating Costs - Total operating costs and expenses decreased by 0.5% year-over-year to $8.1 billion, with programming costs down 6.5% due to fewer video customers [4][22]. - Marketing and residential sales expenses increased by 5.4% year-over-year, reflecting a shift to higher-cost sales channels [4][24]. Capital Expenditures - Capital expenditures for Q3 2025 totaled $3.1 billion, an increase of 19.0% year-over-year, driven by network evolution and infrastructure spending [4][28]. - The company expects full-year 2025 capital expenditures to be approximately $11.5 billion [4][29]. Shareholder Actions - During Q3 2025, Charter repurchased 7.6 million shares for $2.2 billion [4][35].

Core Insights - FTAI Infrastructure Inc. reported a net loss attributable to stockholders of $118.352 million for Q3 2025, with a basic and diluted loss per share of $1.38 [2][10][14] - Adjusted EBITDA for the company was $70.931 million, reflecting a 54% increase from the previous quarter [2][10][21] - The company declared a cash dividend of $0.03 per share for the quarter ended September 30, 2025, payable on November 28, 2025 [4] Financial Overview - Total revenues for Q3 2025 were $140.556 million, compared to $83.311 million in Q3 2024 [13] - Operating expenses for Q3 2025 were $74.985 million, up from $62.766 million in Q3 2024 [13] - The company incurred total expenses of $120.003 million in Q3 2025, compared to $90.580 million in Q3 2024 [13] Key Performance Measures - The company’s Adjusted EBITDA for the four core segments was $76.554 million [10][21] - The net loss attributable to stockholders before preferred stock dividends and loss on extinguishment of preferred stock was $118.352 million for Q3 2025, compared to $49.971 million in Q3 2024 [23] - The company’s cash and cash equivalents at the end of Q3 2025 were $34.722 million, an increase from $27.785 million at the end of 2024 [17] Strategic Developments - The acquisition of the Wheeling & Lake Erie Railway was completed on August 25, 2025 [10] - Gas production in West Virginia commenced in August 2025, leading to excess gas sales at Long Ridge [10] - The company is evaluating strategic alternatives for Long Ridge, including a potential sale [10]

Core Insights - Smurfit Westrock Plc (SW) reported earnings of 58 cents per share in Q3 2025, missing the Zacks Consensus Estimate of 68 cents by 14.7% [1][11] - The company's net sales for Q3 2025 were $8 billion, exceeding the Zacks Consensus Estimate of $7.98 billion, and up from $7.67 billion in the year-ago quarter [3][11] - The adjusted EBITDA for Q3 2025 was $1.3 billion, slightly up from $1.26 billion in the previous year, with an adjusted EBITDA margin of 16.3% compared to 16.5% a year ago [5][11] Financial Performance - The cost of sales in Q3 2025 was $6.43 billion, a 1.8% increase year over year, while gross profit rose 16% to $1.57 billion, resulting in a gross margin of 19.6%, up from 17.6% in the prior year [4] - Selling, general and administrative expenses decreased by 4.7% year over year to $960 million, and operating profit significantly improved to $526 million from $55 million in the year-ago quarter [4][11] - The company announced a quarterly dividend of 43.08 cents per share, payable on December 18, 2025 [9] Segment Performance - The Europe, MEA & APAC segment reported sales of $2.82 billion, a 6.5% increase year over year, with adjusted EBITDA rising 2% to $419 million [6] - The North America segment's sales were $4.6 billion, a 2% increase from the previous year, with adjusted EBITDA rising 4% to $810 million [7] - The LATAM segment achieved sales of $545 million, up 10% year over year, with adjusted EBITDA remaining stable at $116 million [8] Outlook - Smurfit Westrock has lowered its FY25 adjusted EBITDA outlook to $4.9-$5.1 billion, down from the previous estimate of $5-$5.2 billion, due to planned downtime in Q4 [12][11] - The company reported an adjusted EBITDA of $4.7 billion for 2024 [12] Stock Performance - Smurfit Westrock's shares have declined by 26.5% over the past year, compared to a 16.7% decline in the industry [13]

Core Insights - Universal Music Group N.V. (UMG) reported strong financial results for Q3 2025, with revenue growth across all business segments, reflecting the company's strategic initiatives and global expansion efforts [4][6][8]. Financial Results Summary Q3 2025 Results - Revenue for Q3 2025 was €3,021 million, an increase of 5.3% year-over-year, or 10.2% in constant currency [6][8]. - EBITDA for the quarter was €594 million, up 6.8% year-over-year, with an EBITDA margin of 19.7% [9][10]. - Adjusted EBITDA for Q3 2025 was €664 million, reflecting a 6.9% increase year-over-year, with an adjusted EBITDA margin of 22.0% [10][11]. Year-to-Date (YTD) 2025 Results - For the nine months ended September 30, 2025, revenue was €8,902 million, a 6.0% increase year-over-year, or 8.0% in constant currency [11][12]. - EBITDA for the nine months was €1,808 million, growing 11.2% year-over-year, with an EBITDA margin of 20.3% [12][13]. - Adjusted EBITDA for the nine months was €2,000 million, up 7.4% year-over-year, with an adjusted EBITDA margin of 22.5% [13][14]. Segment Performance Recorded Music - Recorded Music revenue for Q3 2025 was €2,223 million, a 3.6% increase year-over-year, or 8.3% in constant currency [15][16]. - Subscription revenue grew 3.6% year-over-year, while streaming revenue declined 4.8% year-over-year [15][16]. - For the nine months, Recorded Music revenue was €6,687 million, up 5.6% year-over-year, with subscription revenue of €3,627 million growing 6.8% [16]. Music Publishing - Music Publishing revenue for Q3 2025 was €543 million, an 8.6% increase year-over-year, or 13.6% in constant currency [18][19]. - Digital revenue within Music Publishing grew 10.8% year-over-year, reflecting the growth of streaming and subscription revenue [19][20]. - For the nine months, Music Publishing revenue was €1,667 million, a 10.5% increase year-over-year [20]. Merchandising and Other - Merchandising and Other revenue for Q3 2025 was €259 million, up 9.3% year-over-year, or 15.6% in constant currency, driven by higher touring merchandise sales [22][23]. - For the nine months, Merchandising and Other revenue was €563 million, a decrease of 2.6% year-over-year, but stable in constant currency [23].

Financial Performance - Same Property NOI increased by 2.1% to $144.121 million for the three months ended September 30, 2025, compared to $141.109 million in the same period of 2024[84] - Same Property NOI increased by 2.8% to $429.381 million for the nine months ended September 30, 2025, compared to $417.615 million in the same period of 2024[84] - The company's share of Net Debt is $3,031.197 billion, with a Net Debt to Adjusted EBITDA ratio of 5.0x[88] - NAREIT FFO attributable to common shareholders was $116.252 million for the three months ended September 30, 2025, compared to $111.955 million for the same period in 2024[86] - Core FFO of the Operating Partnership is $116.284 million for the three months ended September 30, 2025, compared to $109.162 million for the same period in 2024[86] Portfolio Metrics - The leased percentage at period end for same properties was 93.8%[84] - The economic occupancy percentage at period end for same properties was 91.1%[84] - Signed-not-open (SNO) pipeline increased $3.0 million quarter-over-quarter to $34.6 million[26] - Of the $34.6 million SNO pipeline, 41% is from anchor tenants and 59% is from shop tenants[26] Strategic Focus - Primarily concentrated in Sun Belt markets with select strategic gateway market presence[13] - Predominantly focused on grocery-anchored centers along with vibrant mixed-use and lifestyle assets[13] - Diverse and balanced tenant mix provides strong durability in KRG's cash flow[66]

Financial Performance - The company reported Adjusted EBITDA of $1320 million in the third quarter[10] - Total Segment Margin was $146576 thousand in the third quarter[13, 21] - Available Cash Before Reserves was $35482 thousand in Q3 2025, with a Common Unit Distribution Coverage Ratio of 176x[17, 23] - The company exited the third quarter with a leverage ratio of 541x, aiming to improve the balance sheet and maintain the ratio near 40x[10] Operational Highlights - Shenandoah achieved first oil in late July and ramped up to a targeted rate of 100 kbd in early October[15] - Salamanca achieved first oil at the end of September, expecting production from the first 3 wells to approach 40 kbd, with a fourth well planned for 2Q 2026 potentially reaching 50 kbd[15] - Marine Transportation segment experienced challenging conditions in July and August but rebounded in September and October[15] Liquidity and Capital Allocation - The company has a credit facility with $800 million in commitments[8] - The current quarterly distribution remains $0165 per common unit[8] - To date, the company has repurchased $325 million of Class A convertible preferred securities and 114900 common units at an average price of $909 per unit[10]