Accessibility StatementSkip Navigation FORT LAUDERDALE, Fla., Oct. 31, 2025 /PRNewswire/ -- AutoNation, Inc. (NYSE: AN), one of the largest automotive retailers in the United States, today announced that its Board of Directors has authorized the repurchase of up to an additional $1 billion of AutoNation's common stock. "Our strong performance and consistent cash flow generation continue to support strategic investments in growth and shareholder returns," said Mike Manley, Chief Executive Officer of Aut ...

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 - Columbia Banking System, Inc. reported a net income of $96 million for Q3 2025, with diluted earnings per share of $0.40, reflecting a strategic acquisition of Pacific Premier and strong core profitability despite acquisition-related impacts [1][7][33] - The company authorized a $700 million share repurchase program, indicating confidence in its capital generation and strategic direction [1][6][14] Financial Performance - Net interest income increased to $505 million, up $59 million from Q2 2025, driven by one month of combined operations and a favorable shift to lower-cost funding sources [7][14][18] - The net interest margin improved to 3.84%, a rise of 9 basis points from the previous quarter, supported by increased customer deposits and reduced reliance on higher-cost funding [2][15][16] - Non-interest income rose to $77 million, an increase of $12 million from Q2 2025, primarily due to fair value adjustments and one month of combined operations [8][18] Expenses and Credit Quality - Non-interest expenses surged to $393 million, up $115 million from the prior quarter, largely due to merger and restructuring costs [3][19] - The provision for credit losses was $70 million, reflecting the acquisition of Pacific Premier, with net charge-offs at 0.22% of average loans, down from 0.31% in the previous quarter [4][9][24] - Non-performing assets decreased to 0.29% of total assets, down from 0.35% as of June 30, 2025, indicating improved credit quality [4][24] Balance Sheet and Capital - Total assets reached $67.5 billion, up from $51.9 billion as of June 30, 2025, due to the acquisition [20] - Total deposits increased to $55.8 billion, a rise of $14 billion, driven by the acquisition and organic growth [22] - The book value per common share was $26.04, reflecting an increase from $25.41 as of June 30, 2025, supported by capital generation and the acquisition [25][26] Strategic Developments - The acquisition of Pacific Premier was completed on August 31, 2025, enhancing Columbia's market position in Southern California and completing its Western footprint [11][12] - The company began operating under a unified brand on September 1, 2025, streamlining its identity across various business lines [12]

Core Insights - Altria Group Inc. reported third-quarter 2025 results with a revenue miss but an earnings beat, showcasing resilience in its core tobacco business and progress in smoke-free products [1][10] Financial Performance - Adjusted earnings per share (EPS) for the third quarter were $1.45, a 3.6% increase year over year, surpassing the Zacks Consensus Estimate of $1.44 [2] - Net revenues totaled $6,072 million, reflecting a 3% decline year over year, primarily due to decreased revenues in smokeable and oral tobacco products [3] - Revenues net of excise taxes decreased by 1.7% to $5,251 million, missing the consensus estimate of $5,321 million [3] Segment Performance - **Smokeable Products**: Net revenues fell 2.8% year over year to $5,387 million, driven by reduced shipment volume and increased promotional investments, partially offset by higher pricing [4] - Domestic cigarette shipment volumes dropped 8.2%, influenced by industry decline and retail share losses, although cigar shipment volumes increased by 2% [5] - Adjusted operating companies' income (OCI) in this segment rose 0.7% to $2,956 million, with adjusted OCI margins growing 1.3 percentage points to 64.4% [6] - **Oral Tobacco Products**: Net revenues decreased 4.6% to $689 million, attributed to reduced shipment volume and a change in shipment mix, despite increased pricing [7] - Domestic shipment volumes fell 9.6%, with adjusted OCI decreasing 0.9%, although adjusted OCI margins improved by 2.4 percentage points to 69.2% [8] Shareholder Returns and Guidance - The company ended the quarter with cash and cash equivalents of $3,472 million and long-term debt of $24,132 million [9] - Altria repurchased 1.9 million shares for $112 million in Q3 2025, raising its buyback plan to $2 billion and narrowing 2025 EPS growth guidance to 3.5-5% [10][11] - The adjusted EPS for 2025 is now expected to be in the range of $5.37 to $5.45, indicating a year-over-year growth of 3.5% to 5% [12] Strategic Outlook - The company is factoring in the impact of increased tariffs and minimal disruption from enforcement actions targeting the illicit e-vapor market into its 2025 guidance [13] - Altria continues to assess economic factors such as inflation, purchasing patterns, and regulatory developments while investing in smoke-free product research and development [14] - The expected adjusted effective tax rate for 2025 is 23-24%, with capital expenditures projected between $175-$225 million [15]

Financial Data and Key Metrics Changes - For Q3 2025, the company reported a 63% increase in revenue and a 130% increase in net income compared to Q3 2024 [5] - Residential real estate revenue grew by 94% to $36.8 million from $19 million, with the average homesite base price increasing to $150,000 from $86,000 and gross margin rising to 53% from 39% [5] - Recurring revenue from leasing increased by 7% to a record $16.7 million, while hospitality revenue rose by 9% to a record $60.6 million for the third quarter [5][6] Business Line Data and Key Metrics Changes - The company executed 40 new commercial leases and renewed 43 existing leases for a total of 83 during the first nine months of 2025, compared to 53 during the same period in 2024 [6] - At the end of Q3 2025, there were 1,992 residential units under contract, up from 1,381 in the same period in 2024 [6] - The company has over 24,000 entitled units in its residential pipeline across various stages of planning, engineering, permitting, or development [6] Market Data and Key Metrics Changes - The sale of Watercress Senior Living for $41 million resulted in a gross profit of $19.4 million, demonstrating the company's ability to monetize developed properties [7] - The company is leveraging new nonstop flights between Northwest Florida Beaches International Airport and LaGuardia Airport to expand marketing efforts to a larger population base [10][11] Company Strategy and Development Direction - The company plans to continue creating asset value by developing operating properties for recurring revenue or monetizing them for capital allocation [8] - A measured and multifaceted capital allocation strategy was executed, with $20.4 million for capital expenditures, $8.7 million for share repurchase, $8.1 million for cash dividends, and $28.4 million for project debt reduction [9] - The company is focused on strategic timberlands for monetization opportunities while ensuring that assets are not sold at a discount [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's cash generation capabilities and emphasized the importance of maintaining liquidity while executing a capital allocation strategy [13][21] - The company is optimistic about the growth potential in the region, particularly with the establishment of an academic health center and increased direct flights to major metropolitan areas [55][56] Other Important Information - The company announced a 14% increase in the quarterly dividend to $0.16 per share, marking a 129% increase in dividend payments since the program's inception in 2020 [10] - The outstanding share balance is now below 58 million for the first time in nearly 30 years, reflecting significant share repurchase activity [10] Q&A Session Summary Question: Why is the company building cash rather than increasing the pace of buybacks? - Management highlighted the positive cash generation and emphasized that share repurchase remains a priority within their capital allocation strategy [12][13] Question: Why not sell more assets at values that are material relative to the current market cap? - Management stated that they are evaluating assets for monetization but will not sell at a discount, ensuring that shareholders receive fair value [15][17] Question: What are the expected cash levels in 12 to 18 months? - Management indicated that future cash levels will depend on various factors, including macroeconomic conditions and the company's capital allocation strategy [18][21] Question: Any updates on talks with a large-scale builder for Pigeon Creek DSAP? - Management confirmed that discussions are ongoing but did not provide specific updates [22] Question: What is the current value of the company's land inventory? - Management mentioned that a third-party valuation of operating properties was provided at the annual meeting, and similar evaluations for timberlands are in process [42] Question: How does the company view pricing and discounting? - Management clarified that they have not been discounting home site pricing and maintain a consistent pricing strategy across residential communities [51][53]

Financial Data and Key Metrics Changes - The company reported record results for the second consecutive quarter, with cash balance expected to exceed $500 million by year-end, placing the company in a net cash position heading into 2026 [2][4] - Full year EBITDA is now expected to exceed $1 billion, and free cash flow is projected to top $550 million, both higher than prior estimates [2][4] - Metal sales increased by 15% to $555 million during the quarter, driven by a higher number of ounces sold and a 15% increase in silver prices [17] Business Line Data and Key Metrics Changes - Las Chispas operation generated $66 million in free cash flow, with silver production increasing to 1.6 million ounces and gold production to 17,000 ounces [9][10] - Palmarejo delivered $47 million in free cash flow, with strong recoveries and mill throughput reaching the highest levels in six quarters [10][14] - Rochester's gold and silver production increased by 3% and 13% respectively compared to the second quarter, resulting in free cash flow of $30 million [11] - Kensington achieved free cash flow of $31 million, its highest quarterly cash flow in over six years [13][14] - Wharf's gold production increased by 16% to 28,000 ounces, leading to free cash flow of $54 million [14] Market Data and Key Metrics Changes - The company noted a strong performance in the North American market, benefiting from record-setting metals prices [14][17] - The average cash cost per ounce for gold and silver was reported at $1,215 and $14.95 respectively, continuing a positive trend compared to Q3 2024 [9] Company Strategy and Development Direction - The company is focused on maintaining a balanced portfolio of North American assets and is evaluating capital allocation priorities, including share repurchase programs [6][22] - The integration of Las Chispas is complete, and the company is looking to leverage its strong cash flow position for future growth opportunities [10][36] - The company is not currently focused on development stage investments but is actively monitoring opportunities that fit its criteria [36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for a strong finish to the year and a record-breaking year in 2026, driven by operational improvements and favorable market conditions [4][22] - The company anticipates a material step up in production from 2025 to 2026, with expectations for increased throughput and efficiency at operations [33] Other Important Information - The company recorded a one-time $162 million non-cash tax benefit due to U.S. net operating losses, reflecting strong performance over the past three years [19] - The company has repaid over $228 million in debt during 2025, achieving a net debt ratio of 0.1 times [18] Q&A Session Summary Question: What is needed to get the Rochester operation up to full capacity? - Management discussed recent modifications to improve efficiency and productivity, indicating that unplanned downtime was a temporary setback [26][28] Question: How does the company view growth opportunities in the market? - Management stated that they are focused on internal priorities but are always evaluating opportunities that align with their strategic goals [36] Question: What should be expected regarding the tax rate for next year? - The effective tax rate is expected to change to around 24% due to the utilization of net operating losses, which is a significant shift from previous years [44] Question: Was there a drop in grade at Palmarejo and Las Chispas? - Management clarified that the drop in grade was related to the sequencing of ore processed and the decision to run more tonnes through the mill [48] Question: What are the expectations for unit costs and inflation pressures? - Management indicated that they are experiencing a favorable cost environment with flat input costs, despite some royalty pressures [53][55]

Franklin BSP Realty Trust (NYSE:FBRT) Q3 2025 Earnings Call October 30, 2025 09:00 AM ET Speaker2Good day and welcome to the Franklin BSP Realty Trust third quarter 2025 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touchtone phone. To withdraw your ...

Core Viewpoint - BILL Holdings, Inc. has shown significant interest from institutional investors and analysts, with recent earnings exceeding expectations and a share repurchase plan indicating management's confidence in the stock's value [1][4][5]. Institutional Investment Activity - Asset Management One Co. Ltd. increased its holdings in BILL by 22.1%, owning 2,690 shares valued at $124,000 after purchasing 487 additional shares [1]. - FNY Investment Advisers LLC raised its stake by 133.7%, now holding 1,402 shares worth $64,000 after acquiring 802 shares [1]. - Virginia Retirement Systems ET Al invested approximately $884,000 in BILL during the second quarter [1]. - WCM Investment Management LLC boosted its stake by 4.8%, owning 464,155 shares valued at $21,152,000 after acquiring 21,369 shares [1]. - Allianz Asset Management GmbH established a new position worth about $1,332,000 [1]. - Institutional investors collectively own 97.99% of the company's stock [1]. Analyst Ratings Changes - Keefe, Bruyette & Woods raised their price target for BILL from $46.00 to $56.00, maintaining a "market perform" rating [2]. - Oppenheimer increased their price target from $55.00 to $60.00, assigning an "outperform" rating [2]. - Needham & Company LLC reaffirmed a "buy" rating with a price target of $75.00 [2]. - Truist Financial lowered their price target from $63.00 to $61.00 while maintaining a "buy" rating [2]. - Canaccord Genuity Group also reaffirmed a "buy" rating with a $75.00 price target [2]. - The consensus rating for the stock is "Hold" with a price target of $60.10 [2]. Financial Performance - BILL reported an EPS of $0.53 for the last quarter, surpassing analysts' expectations of $0.41 by $0.12 [4]. - The company achieved revenue of $383.35 million, exceeding estimates of $376.43 million, marking an 11.5% year-over-year increase [4]. - BILL's FY 2026 guidance is set at 2.000-2.200 EPS, with Q1 2026 guidance at 0.490-0.520 EPS [4]. Share Repurchase Plan - The Board of Directors approved a share repurchase plan allowing the company to buy back $300 million in shares, representing up to 7.2% of its shares [5]. Company Profile - BILL Holdings, Inc. specializes in financial automation software for small and midsize businesses, offering cloud-based payments and spend management products [6].

Financial Data and Key Metrics Changes - For Q3 2025, consolidated revenue was $694 million, representing a 58% increase year-over-year, while year-to-date revenue reached $2.2 billion, a 64% increase [11] - Adjusted EBITDA for Q3 was $120 million, with a year-to-date total of $476 million, reflecting a margin of 17.3% for the quarter and 21.5% year-to-date, an increase of approximately 325 basis points compared to the previous year [11][12] - Adjusted diluted earnings per share for Q3 was $1.01, bringing the year-to-date adjusted EPS to $4.27 [12] Business Line Data and Key Metrics Changes - Financial services segment revenue for Q3 was $579 million, up 80% year-over-year, with adjusted EBITDA increasing 86% to $126 million, a margin of 21.7% [13][14] - Core accounting and tax service lines delivered low single-digit growth, while project-based advisory businesses showed improved growth compared to the first half of the year [13][10] - Benefits and insurance segment revenue was $103 million, with year-to-date growth of 2.7% and adjusted EBITDA growth of 6.7% [15] Market Data and Key Metrics Changes - The company experienced strong mid-single-digit rate increases in Q3, exceeding overall inflation and reflecting the value of its service capabilities [14] - The market conditions improved in Q3, leading to increased conversion of late-stage pipeline opportunities [10] Company Strategy and Development Direction - The company is focused on leveraging the Marcum acquisition to accelerate growth and enhance competitive positioning, with significant investments in technology, AI, and offshoring resources [4][5] - A national brand campaign has been launched to promote the new CBIZ and highlight expanded capabilities, showing early signs of improved brand awareness [8] - The company aims to achieve a target leverage range of 2 to 2.5 times over time, with a focus on funding organic growth and maintaining capital [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the 2025 revenue outlook, citing steady performance in recurring businesses and improved market conditions [10] - The company anticipates accelerated growth beginning in 2026, driven by a commitment to operational excellence and client experience [24] - Management noted that the integration of Marcum is progressing well, with expected synergies of $50 million or more, and plans to realize $35 million in synergies this year [20][22] Other Important Information - The company ended Q3 with net debt of approximately $1.6 billion and had about $300 million of available liquidity [15] - Share repurchases totaled approximately $128 million year-to-date, with a current outstanding share count of approximately 54.1 million shares [16] Q&A Session Summary Question: What is the outlook for pricing in 2026? - Management indicated that mid-single-digit pricing growth is expected to continue, reflecting strong client relationships and market conditions [26] Question: Have any significant clients been lost due to the Marcum acquisition? - Management acknowledged some expected client dilution but reported strong client retention rates overall [28] Question: What are the expected integration costs for 2026? - Integration costs for 2026 are expected to be similar in nature to 2025, with some shifts in the mix of costs [30] Question: How has the OVBPA impacted the tax practice? - Management confirmed that the OVBPA has led to increased discussions and revenue in the tax practice [34] Question: What is the outlook for the fourth quarter? - Management expects continued growth in core recurring businesses and improved performance in non-recurring project-based businesses [38][41]

Core Points - Murphy USA Inc. announced the appointment of Mindy K. West as President and Chief Executive Officer, effective January 1, 2026, succeeding Andrew Clyde, who will retire on December 31, 2025 [1][3][4] - The Board reaffirmed its 50/50 long-term capital allocation strategy, which includes a new share repurchase program and an increase in the quarterly cash dividend [2][5][7] Leadership Transition - Mindy K. West has been with Murphy USA since 1996 and has held various leadership roles, including Chief Operating Officer since February 2024 [3][4] - Andrew Clyde, the outgoing CEO, will remain with the company as a non-executive advisor until February 2027 to ensure a smooth transition [4][6] Capital Allocation Strategy - The Board approved a new share repurchase program of up to $2 billion, set to begin after the current $1.5 billion program is completed, of which $337 million remains [5][7] - A quarterly cash dividend of $0.63 per share was declared, reflecting a 19% increase from the previous quarter, with an annualized dividend of $2.52 [5][7] Growth and Reinvestment - The company plans to open 50 or more new-to-industry (NTI) locations annually, supported by a robust pipeline and recent acquisitions [8] - Management intends to increase reinvestment in existing locations starting in 2026, funded by tax benefits from recent legislation [8][9] Financial Position - Murphy USA aims to maintain a conservative balance sheet, targeting a long-term debt-to-earnings ratio of under 2.5x [9]