Financial Data and Key Metrics Changes - The company reported revenues of $2,000,000,000 for Q2 2025, representing a 6% increase year-over-year [37] - Adjusted EBITDA was $242,000,000, up 12% with an adjusted EBITDA margin of 12.4%, an increase of 70 basis points year-over-year [37] - Year-to-date operating cash flow was $308,000,000, up 20% versus the prior year, with a conversion rate against net income of 123% [37] Business Line Data and Key Metrics Changes - In the MTS segment, revenues were $1,400,000,000, up 7% year-over-year, with adjusted EBITDA of $141,000,000, an increase of 6% [38] - The STS segment reported revenues of $540,000,000, up 2% year-over-year, with adjusted EBITDA of $129,000,000, up 17% and margins of 23.9%, an improvement of over 300 basis points [39] Market Data and Key Metrics Changes - The Middle East region saw a 20% growth on a trailing twelve months basis, with significant investments in energy security and infrastructure [20] - The company has a robust pipeline with $19,000,000,000 in bids awaiting award in the MTS segment, of which 72% represent new business [15] Company Strategy and Development Direction - The company is refocusing on its core business of MTS following the termination of the HomeSafe Alliance joint venture contract [7] - KBR aims to expand in key markets through delivery and innovation, achieving leading margins while deploying capital back to shareholders [19] - The company is prioritizing pursuits in MTS that align with the new defense budget and expanding geographical reach in STS [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the conversion of the pipeline as funding from the presidential budget and the Reconciliation Act begins to flow [58] - The geopolitical environment, particularly in the Middle East, poses risks but is also seen as an opportunity for growth [59] - The company remains committed to creating shareholder value and maintaining a disciplined approach to capital allocation [52] Other Important Information - The company updated its revenue guidance for fiscal 2025 to a range of $7,900,000,000 to $8,100,000,000, reflecting the removal of expected revenues from the HomeSafe contract [43] - The adjusted EBITDA outlook remains unchanged despite the revenue guidance reduction [47] Q&A Session Summary Question: What were the upside and downside risk factors in setting the updated guidance? - Management highlighted the importance of pipeline conversion and geopolitical movements as key factors in setting the guidance [58] Question: How does the company feel positioned to win and retain work after the HomeSafe experience? - Management believes there will be no negative impact on win rates due to strong customer relationships and increased engagement [61] Question: What is the outlook for the MTS segment regarding bookings in the second half of the year? - Management expects a more robust second half bookings environment as the award cadence picks up [71] Question: What needs to happen in the next several quarters to support the new targets for 2027? - Management indicated that conversion of the pipeline and winning a fair share of opportunities are crucial for meeting the targets [75]

Financial Data and Key Metrics Changes - The company reported second quarter net sales of $1.3 billion, a decline year over year primarily due to lower lithium market pricing, partially offset by higher volumes in Energy Storage and Specialties [5][6] - Adjusted EBITDA for the second quarter was $336 million, also down year over year, but improved sequentially due to higher energy storage and specialty volumes along with ongoing cost savings [5][6] - Adjusted earnings per share increased year over year due to a prior year charge related to asset write-offs and associated cancellation costs [6] Business Line Data and Key Metrics Changes - In Energy Storage, sales volume growth is now expected to be near the high end of the 0% to 10% range, driven by record production and improved mine performance [10] - Specialties are expected to see modest volume growth for the full year, with Q3 net sales and EBITDA projected to be similar to Q2 [11] - Corporate EBITDA increased primarily due to cost reductions and foreign exchange gains [7] Market Data and Key Metrics Changes - Global lithium consumption is estimated to be up about 35% year to date, with strong demand in stationary storage and electric vehicles (EVs) [3] - Year to date, global stationary storage battery production was up 126% through May, while EV sales in China were up 41% year to date [19][20] - The lithium market is expected to be more balanced next year, with potential return to deficits in 2027 and beyond, as demand growth is anticipated to outstrip supply growth by up to 10% per year on average between 2024 and 2030 [22][23] Company Strategy and Development Direction - The company is focused on optimizing its conversion network, improving cost and efficiency, reducing capital expenditures, and enhancing financial flexibility [24][26] - The company has achieved a 100% run rate against its cost and productivity improvement target of $400 million, six months ahead of schedule [26][28] - The company is committed to maintaining a competitive position and capitalizing on long-term opportunities in the lithium market [29] Management's Comments on Operating Environment and Future Outlook - Management noted that macro conditions are stabilizing, and they expect minimal direct impacts from tariffs announced since April due to exemptions and their global footprint [3] - The company remains confident in the long-term outlook of the lithium industry and the energy transition, despite current pricing challenges [23] - Management emphasized the importance of maintaining financial flexibility and cash conversion, expecting to achieve positive free cash flow for the full year 2025 [12][28] Other Important Information - The company ended the second quarter with available liquidity of $3.4 billion, including $1.8 billion in cash and cash equivalents [13] - The net debt to adjusted EBITDA ratio was 2.3x, well below the covenant limit, with plans to utilize cash for deleveraging [14] Q&A Session Summary Question: Why might the second half mix change between contract and spot? - Management indicated that customer demand drives the mix, with variations expected between quarters [31][32] Question: What is the underlying assumption of flat pricing? - Management confirmed that the guidance is based on an average pricing of about $9 per kilogram, reflecting a basket approach to pricing across regions [36] Question: What is the current lithium supply situation? - Management noted that more capacity needs to come offline, with some sites in China having come offline recently, but no significant changes from previous quarters [40][41] Question: Can the company maintain free cash flow positive if prices remain low? - Management expressed confidence in maintaining free cash flow through cost and productivity improvements, as well as ramping up facilities [46][48] Question: What is the outlook for capital expenditures? - Management indicated a focus on reducing capital expenditures while maintaining growth, with expectations to keep CapEx levels down [78][90] Question: How does the company view government involvement in pricing? - Management stated that they do not see government involvement in setting pricing, although they acknowledge the strategic importance of lithium [95] Question: What is the company's approach to contract renewals? - Management confirmed that they are in discussions to extend or renew contracts, with structures similar to past agreements [106]

Financial Data and Key Metrics Changes - The company reported second quarter net sales of $1.3 billion, a decline year over year primarily due to lower lithium market pricing, although this was partially offset by higher volumes in Energy Storage and Specialties [4][5] - Adjusted EBITDA for the second quarter was $336 million, also down year over year, but improved sequentially due to higher energy storage and specialty volumes along with ongoing cost savings [4][5] - The company achieved a 100% run rate of its $400 million cost and productivity improvement target, and expects full year 2025 cash expenditures to be reduced to $650 million to $700 million, down about 60% from the previous year [1][26] Business Line Data and Key Metrics Changes - In Energy Storage, sales volume growth is now expected to be near the high end of the 0% to 10% range, driven by record production and improved mine performance [9] - The Energy Storage EBITDA margin for the first half was approximately 30%, but is expected to be lower in the second half due to a smaller proportion of lithium salts sold under long-term agreements [9][10] - Specialties are expected to see modest volume growth for the full year, with Q3 net sales and EBITDA projected to be similar to Q2 [10] Market Data and Key Metrics Changes - Global lithium consumption is estimated to be up about 35% year to date, with strong demand in stationary storage and electric vehicles (EVs) [2] - EV sales in China were up 41% year to date, with battery electric vehicles (BEVs) showing a 44% increase compared to plug-in hybrid electric vehicles (PHEVs) [17][18] - The lithium market is expected to be more balanced next year, with potential return to deficits in 2027 and beyond, as demand growth is anticipated to outstrip supply growth by up to 10% per year on average between 2024 and 2030 [21][22] Company Strategy and Development Direction - The company is focused on optimizing its conversion network, improving cost and efficiency, reducing capital expenditures, and enhancing financial flexibility [23][25] - The company aims to maintain its competitive advantages through continuous improvement initiatives and has successfully reduced capital expenditures by approximately 60% year over year [26] - The company is committed to cash management actions, expecting full year operating cash conversion in excess of 80% and positive free cash flow for 2025 [11][12] Management's Comments on Operating Environment and Future Outlook - Management noted that macro conditions are stabilizing, and the impacts of tariffs announced since April are expected to be minimal due to the company's global footprint [2] - The company remains confident in the long-term outlook of the lithium industry and the energy transition, despite current pricing pressures [22] - Management emphasized the importance of maintaining a strong balance sheet and cash performance, particularly in a low-price environment [60][61] Other Important Information - The company ended the second quarter with available liquidity of $3.4 billion, including $1.8 billion in cash and cash equivalents [12] - The company plans to repay $440 million euro bonds with cash on hand as those bonds mature in November [13] Q&A Session Summary Question: Why might the second half mix change between contract and spot? - Management indicated that the change is primarily driven by customer demand, with customers drawing more on contracts at certain periods than others [29][30] Question: What is the underlying assumption of flat pricing? - Management confirmed that the guidance is based on a basket approach to pricing, averaging around $9 per kilogram for the year [33] Question: What is the current lithium supply situation? - Management noted that more capacity needs to come offline, with some sites in China having come offline recently, but no significant changes from previous quarters [38][39] Question: Can the company maintain free cash flow if pricing remains low? - Management stated that maintaining free cash flow is a goal, with actions taken to improve cost efficiency and ramp up production capabilities [44][45] Question: What is the outlook for energy storage margins? - Management expects a softer demand on contracts in the third quarter, leading to a higher proportion of spot sales, but anticipates stronger demand in the fourth quarter [63][66] Question: How is the company approaching capital expenditures for next year? - Management is focused on driving down capital expenditures but noted that it is becoming harder to make significant cuts as they approach optimal levels [75][86]

Financial Performance - Q3 2025 adjusted EPS was $3.09, a decrease of 3% compared to Q3 2024[14, 19] - Q3 2025 adjusted operating income was $741 million, flat compared to Q3 2024[14] - Q3 2025 adjusted operating income margin was 24.5%, flat compared to Q3 2024[14] - The company forecasts FY2025 capital expenditures to be approximately $5.0 billion[25] Sales Analysis - Overall sales increased by 1% compared to Q3 2024 and 4% compared to Q2 2025[16] - Volume decreased by 4% compared to Q3 2024 but increased by 4% compared to Q2 2025[16] - Sales in Americas increased 2% vs Q3FY24 but decreased 2% vs Q2FY25[33] - Sales in Asia increased 3% vs Q3FY24 and 5% vs Q2FY25[38] - Sales in Europe increased 11% vs Q3FY24 and 6% vs Q2FY25[43] Future Outlook - The company projects FY2025 adjusted EPS to be in the range of $11.90 to $12.10, a decrease of 4% to 3% compared to FY24[10, 25] - Q4 FY2025 adjusted EPS is projected to be between $3.27 and $3.47, representing an 8% to 3% decrease compared to Q4 FY24[25]

Q2 2025 Financial Performance - Net sales reached $1.33 billion, a decrease of 7% compared to Q2 2024's $1.43 billion[13] - Net income attributable to Albemarle Corporation increased by 112% to $23 million, compared to a loss of $188 million in Q2 2024[13] - Adjusted EBITDA was $336 million, a 13% decrease from $386 million in Q2 2024[13] - Adjusted EBITDA margin was 25%, a decrease of 200 bps from 27% in Q2 2024[13] - Adjusted diluted earnings per share attributable to common shareholders was $0.11, a 175% increase from $0.04 in Q2 2024[13] Outlook and Strategy - The company maintains its FY 2025 outlook, expecting positive free cash flow assuming current lithium market pricing persists[11, 12] - The company achieved 100% run-rate against the $400 million cost and productivity improvement target[12] - The company is reducing its full-year 2025 capital expenditure outlook to $650-700 million[12] - The company expects operating cash conversion to be >80% for FY 2025[27] Market Dynamics - Global lithium demand remains strong YTD, driven by significant growth in EVs and ESS[12, 32] - Global EV demand grew by 35% Y/Y through May[34]

Announces 2025 second-quarter reported earnings (GAAP) per share of $0.25. Achieves 2025 second-quarter ongoing earnings per share of $0.32 versus $0.38 in 2024, with lower results primarily due to timing and weather. Reaffirms 2025 ongoing earnings forecast range of $1.75 to $1.87 per share; expects to achieve at least the midpoint of $1.81 per share. Reaffirms 6% to 8% annual EPS and dividend growth targets through at least 2028; expects to achieve EPS growth in the top half of targeted growth range.ALLE ...

Core Insights - Arcadis reported €965 million in net revenues for Q2 2025, showing stable organic performance year-on-year and an operating EBITA margin of 11.3% while investing in strategic initiatives for future growth [2][3] - The company experienced strong demand in North America and Europe, which offset challenges in the UK and Australia, leading to increased Key Client order intake and expansion of Global Excellence Centers [3][5] Financial Performance - Gross revenues for H1 2025 were €2,453 million, a 2% decrease from €2,512 million in H1 2024, while net revenues were €1,937 million, down 1% from €1,959 million [4][20] - Operating EBITA for H1 2025 was €269 million, a slight decrease of 1% from €271 million in H1 2024, with an operating EBITA margin of 11.1% [4][11] - Free cash flow for H1 2025 was negative at €-136 million, compared to €-88 million in H1 2024, reflecting seasonal trends and higher cash outflows [12][20] Market Dynamics - Revenue growth was strong in the US, Canada, and the Netherlands, driven by high demand for Energy Transition, Water, and Technology solutions, while the UK market saw an 8% decline due to delayed government spending reviews [8][9] - The total backlog increased to €3,647 million, with an organic growth rate of 11.8% year-on-year, supported by significant order intake from sectors like Pharmaceuticals and Energy Transition [4][20] Strategic Initiatives - The integration of recently acquired WSP Rail and KUA Data Centers is expected to unlock new growth opportunities, particularly in Germany [5][10] - The company is well-positioned for growth in H2 2025, with large contracts ramping up and increased UK spending anticipated [5][9] Operational Highlights - The operating EBITA margin improved to 11.3% in Q2 2025 from 10.8% in the previous year, supported by strategic initiatives and an expanded Key Clients program [10][21] - The workforce in Global Excellence Centers has grown to 5,100, with plans for a new center in Bucharest, Romania [10][21] Future Outlook - Arcadis aims for an operating EBITA margin of 12.5% by 2026, with a strategy focused on sustainable growth and investment in digital solutions [19][20]

Core Insights - Crédit Agricole Group reported strong financial results for Q2 2025, with net income group share increasing by 30.1% to €2,638 million, driven by high revenues and a controlled cost of risk [18][34][48] - The group achieved revenues of €9,808 million, up 3.2% year-on-year, with a stable cost/income ratio of 59.9% [19][48] - The bank's CET1 capital ratio remains robust at 17.6%, indicating strong solvency [3] Financial Performance - Revenues for Crédit Agricole S.A. reached €7,006 million, a 3.1% increase compared to Q2 2024 [35][48] - Operating expenses rose by 2.2% to €3,700 million, leading to a gross operating income of €3,306 million, up 4.1% year-on-year [37][48] - The cost of risk was reported at -€441 million, an increase of 4.2% compared to the previous year [40][48] Business Segments - The Asset Gathering division saw assets under management grow to €2,905 billion, up 5.2% year-on-year, with strong inflows in asset management and insurance [12][49] - In the insurance sector, revenues reached €12.7 billion, a 17.9% increase from Q2 2024, driven by growth in savings and retirement products [50][62] - The Corporate and Investment Banking (CIB) segment reported record revenues, supported by strong capital markets activity [14][19] Customer Growth and Market Position - The group captured 493,000 new customers in retail banking during Q2 2025, with total on-balance sheet deposits reaching €838 billion, a 0.6% increase year-on-year [10][29] - Crédit Agricole's credit market share remained stable at 22.6%, with loan production up 18.8% compared to Q2 2024, particularly in housing loans [29][30] Strategic Developments - The group is actively pursuing strategic operations, including partnerships and acquisitions, with notable transactions in the U.S. and Europe [5][6] - Crédit Agricole continues to support the transition to low-carbon energy, with investments in sustainable finance recognized by Euromoney as the World's Best Bank for Sustainable Finance [15][17]

Financial Performance & Acquisition - Nabors reported adjusted EBITDA of $248.459 million for the three months ended June 30, 2025[86] - Nabors Drilling Solutions contributed 25% of total adjusted EBITDA from operations in 2Q[24] - Parker Wellbore acquisition is on track to deliver $40 million of synergies in 2025 and $60 million run-rate in 2026[18] - Parker Wellbore is expected to generate run-rate adjusted EBITDA plus synergies of $200 million, up from $190 million[18] - Adjusted EBITDA less CAPEX of $125 million is expected from Parker Wellbore, up from $110 million[19] Segment Performance - International Drilling daily adjusted gross margin was greater than $17,500 in 2Q[24] - Lower 48 rigs generated daily adjusted gross margin of approximately $13,900[24] - Nabors Drilling Solutions adjusted gross margin was approximately 53% in 2Q[24] International Expansion - Nabors has 52 active rigs in KSA (Kingdom of Saudi Arabia) operated by SANAD, a JV with Saudi Aramco[20] - The company deployed 2 rigs in Saudi Arabia and 2 rigs in Kuwait in 2Q, with additional deployments planned in 3Q in Saudi Arabia, Kuwait, and India, plus a restart in Colombia[24] - Nabors is actively pursuing multiple opportunities for additional international rigs through YE 2025[38] Rig Count & Utilization - As of June 30, 2025, Nabors had a total rig fleet of 310, with 159 rigs on revenue, resulting in a 51% utilization rate[84] - In the U S Lower-48, Nabors had 110 high-spec rigs, with 60 on revenue, resulting in a 55% utilization rate[84]

RT Bloomberg Live (@BloombergLive)"We've exceed $2 trillion however that has slowed from recent years," @BloombergNEF's Fauziah Marzuki on the global investment in energy transition technology slowing down.⏯️ https://t.co/pybnzsoiE2 https://t.co/VD65wdEAxo ...