Financial Data and Key Metrics Changes - In the second quarter, the company reported net sales of $483 million, a 4% increase from the prior year, with organic volumes increasing by 2% [18] - Adjusted EBITDA was $75.5 million, reflecting a sequential increase of approximately $6 million, with adjusted EBITDA margins at 15.6% [9][20] - Gross margins were slightly lower at 36%, influenced by higher raw material and manufacturing costs, but remained within the target range [9][19] Business Line Data and Key Metrics Changes - The Asia Pacific segment achieved 3% organic sales growth, driven by strong contributions from new business wins and acquisitions, with sales increasing by 20% year over year [21] - The EMEA segment saw net sales growth compared to the prior year and quarter, with organic volumes increasing by 4% sequentially [22] - The Americas segment experienced a 1% decline in net sales year over year, with volumes down 2% [23] Market Data and Key Metrics Changes - The overall market served by the company is estimated to have declined by a low single-digit percentage compared to the prior year, with regional differences noted [7] - Demand uncertainty due to tariffs is impacting overall demand and geographic/product mix [8] Company Strategy and Development Direction - The company is focused on reducing complexity and improving cost structure to support long-term performance [6] - Investments are being made in new manufacturing capabilities and innovation to enhance customer solutions [10][11] - The integration of Dipsol's technology is expected to contribute positively to the company's portfolio [12] Management's Comments on Operating Environment and Future Outlook - Management anticipates that end market softness will persist through 2025, but remains confident in the ability to drive above-market growth [14][15] - The company is taking actions to enhance competitiveness and expects to deliver solid cash flow in 2025 [26][28] - Management expressed confidence in sustaining a long-term growth rate of 2% to 4% despite external market challenges [15][37] Other Important Information - The board approved a 5% increase in cash dividends, marking the sixteenth consecutive annual increase [14] - The company repurchased $33 million of shares and has $68 million remaining on its share repurchase authorization [28] Q&A Session Summary Question: Can you provide more details on the share gains and their sustainability? - Management noted broad-based share gains across all regions, particularly strong in Asia Pacific, and expressed confidence in sustaining a mid-single-digit growth rate into the second half of the year [35][37] Question: What is the outlook for Asia Pacific margins and raw material impacts? - Management indicated that new business wins may initially impact margins but expect stability and modest improvement in the second half, with targeted pricing actions in response to raw material costs [39] Question: What is the expected EBITDA growth cadence for the second half? - Management expects the second half to be stronger than the first, driven by new business wins and cost actions, but does not anticipate significant market improvement [41][46] Question: Can you elaborate on the double-digit growth in advanced products? - Management confirmed that advanced solutions, including Fluid Intelligence, are seeing strong traction and represent about 20% of total revenues, with higher growth rates than the corporate average [53] Question: What are the implications of tariffs on customer inventory and strategy? - Management noted that customers are cautious about building inventory due to uncertainty, but there is potential for positive impacts in North America [63] Question: What changes are being made to the commercial strategy? - Management highlighted improvements in organizational structure and operational efficiency to reduce complexity and enhance growth potential [66]

Financial Data and Key Metrics Changes - The company reported second quarter earnings per share (EPS) of $0.76, a $0.09 increase compared to the same period last year [4][11] - Year-to-date EPS through June was $1.76, reflecting a $0.16 increase over the same period last year [11] - Net earnings for the quarter were $384 million [11] - The company raised over $1 billion in debt to repay borrowings and fund its capital program [15] - Fitch assigned a first-time BBB+ credit rating to the company, supporting cost-effective capital market funding options [16] Business Line Data and Key Metrics Changes - Central Hudson contributed a $0.04 increase in EPS, driven by rate-based growth and a higher allowed return on equity (ROE) effective July 1, 2024 [12] - EPS contribution from UNS Energy remained unchanged from the previous year, with increased transmission revenue offset by regulatory lag [12] - Western Canadian Utilities saw a $0.30 increase in EPS, largely due to rate base growth [12] - The Corporate and Other segment experienced a decrease in EPS due to timing of income tax recoveries and higher finance costs [14] Market Data and Key Metrics Changes - Tucson Electric Power (TEP) filed a general rate application seeking new retail rates effective September 1, 2026, with a proposed rate base of $4.3 billion, an increase of approximately $750 million since the last rate case [17][18] - The application aims to phase out certain adjuster mechanisms and request an annual formula rate adjustment [19] Company Strategy and Development Direction - The company is focused on delivering reliable and affordable service to customers while providing compelling long-term returns to shareholders [21] - A significant capital expenditure of nearly $3 billion was made in the first half of the year, with plans for continued investment in grid upgrades and new energy resources [4][18] - The company aims to convert approximately 800 megawatts of coal-fired generation to natural gas by 2030, with a target to be coal-free by 2032 [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong results for the first half of the year and progress on regulatory fronts, positioning the company well for the remainder of 2025 and beyond [21] - The company is reassessing its 2030 and 2035 interim greenhouse gas targets and will share results once complete [8] - Management highlighted ongoing negotiations for additional capacity to support data center demands in Arizona [9] Other Important Information - The company achieved a 34% reduction in Scope 1 greenhouse gas emissions compared to 2019 levels [5] - The first phase of the Roadrunner reserve battery storage project was placed in service, facilitating the integration of renewable energy onto the electric grid [6] Q&A Session Summary Question: Regarding the data center opportunity in Arizona, how quickly could generation be developed to support these assets? - Management indicated that the first 300 megawatts would utilize existing and planned capacity, with the goal to have it operational by 2027. The second phase would go through an RFP process, aiming for service by 2030 to 2031 [25][27] Question: Is it fair to assume that the greatest upside potential is in Arizona and ITC? - Management confirmed that significant opportunities exist in Arizona and ITC, while also exploring additional prospects across the entire portfolio [28] Question: Can you comment on the Springerville position and its impact on the five-year plan? - Management acknowledged that the conversion of Springerville may take longer to achieve interim GHG targets but emphasized the affordability benefits for customers [32][34] Question: What are the latest thoughts on gas infrastructure in BC? - Management noted a positive outlook for LNG opportunities and ongoing regulatory processes for LNG storage tanks, with a review of CleanBC policies expected later this year [39] Question: Is UNS involved in discussions regarding new interstate pipeline capacity into Arizona? - Management confirmed ongoing discussions related to gas supply for the Springerville repowering project, emphasizing the need for additional infrastructure in the long term [61][64]

Financial Performance - nVent delivered record Q2 sales of $963 million, up 30% year-over-year[10] - Adjusted EPS was $0.86, a 28% increase[12] - Adjusted operating income reached $200 million, up 18% year-over-year, with a ROS of 20.8%[12] - Free cash flow generation amounted to $74 million in Q2 2025[12] Growth and Orders - Organic sales increased by 9%[12] - Organic orders grew by over 20% year-over-year[10] - Total backlog increased more than four-fold year-over-year[10] - New products contributed over 3 percentage points to sales growth[12] Outlook and Guidance - nVent is raising full-year sales and adjusted EPS guidance[10] - The company expects sales to be up 24% to 26% reported, and 8% to 10% organically[33] - Adjusted EPS is projected to be between $3.22 and $3.30, a 29% to 33% increase[33]

Financial Performance & Capital Plan - YTD June Capital Expenditures reached $2.9 billion, and the company is on track with its 2025 annual capital plan of $5.2 billion[17] - The 2025-2029 Capital Plan totals $26 billion, with 23% allocated to major capital projects[17] - The company forecasts a 5-Year Rate Base CAGR of 6.5%, growing from $39 billion in 2024 to $53 billion in 2029[17] - Q2 2025 EPS was $0.76, compared to $0.67 in Q2 2024, and YTD 2025 EPS was $1.76, compared to $1.60 YTD 2024[35] Strategic Initiatives & Growth Opportunities - TEP plans to convert 793 MW of coal-fired generation at the Springerville Generating Station to natural gas generation by 2030, supporting a coal-free generation mix by 2032[21] - An agreement was reached with a data center customer for ~300 MW of power demand ramping up in 2027, with potential for a total of 600 MW at the initial site and an additional 500-700 MW at a subsequent site[27] - MISO LRTP Tranche 2.1 represents a ~US$3.7-$4.2 billion investment opportunity for projects in Michigan, Minnesota, and Iowa[30] Dividend & Sustainability - The company provides annual dividend growth guidance of 4-6% through 2029[33] - Fortis has reduced scope 1 emissions by 34% to the end of 2024 relative to 2019 levels[89] - FortisBC will invest $690 million to help customers save 3.8 million gigajoules of gas and 115 GWh of electricity by the end of 2027[89]

Financial Performance - Q2 2025 - Orders increased by 8% and revenue increased by 5% compared to Q2 2024[19] - Adjusted EBITDA increased by 3%, but the margin decreased by 40 bps year-over-year[19] - Adjusted EPS decreased by 4% year-over-year, following a 22% increase in Q2 2024[19, 21] - Free cash flow is down year-over-year, but up 13% year-to-date[24] - The company has total available liquidity of $3.9 billion, including $1.3 billion in cash and cash equivalents[24] Segment Performance - Q2 2025 - Industrial Technologies and Services revenue was $1.4916 billion, up 1.7% year-over-year, with an adjusted EBITDA of $427.2 million and a margin of 28.6%[25] - Precision and Science Technologies revenue was $396.3 million, up 17% year-over-year, with an adjusted EBITDA of $116.8 million and a margin of 29.5%[33] M&A and Strategy - The company closed 11 transactions and acquired over $200 million in annualized inorganic revenue[17] - The company granted approximately $30 million in equity to approximately 6,400 new employees through the Ownership Works program in the last 18 months[13] Full Year 2025 Guidance - The company is raising its full-year guidance on revenue, adjusted EBITDA, and adjusted EPS[8] - Full year revenue is expected to grow by 4-6%, with M&A contributing approximately $375 million or approximately 5%[39] - Adjusted EBITDA is projected to be between $2.1 billion and $2.16 billion, representing a 4-7% year-over-year increase[39] - Adjusted EPS is expected to be between $3.34 and $3.46, representing a 2-5% year-over-year increase[39]

Company Overview - Interface reported net sales of $1.3 billion in FY2024[9] - The company has a global presence with 6 manufacturing locations on 4 continents[9] - Interface is recognized as a leader in sustainability with over 50 years of innovation[11] Financial Performance (Q2 2025) - Net sales increased by 8.3% year-over-year to $375.5 million[63, 64, 66] - Currency neutral net sales increased by 7.1% year-over-year to $371.1 million[63, 80] - Gross profit increased by 20.7% to $148.0 million, representing 39.4% of net sales[64] - Operating income increased by 36.4% to $52.0 million, representing 13.9% of net sales[64] - Adjusted operating income increased by 41.2% to $55.9 million, representing 14.9% of net sales[63, 66] - Adjusted EBITDA was $64.8 million, representing 17.3% of net sales[66] - Adjusted earnings per share was $0.60[63, 66] Sustainability Metrics (2024) - Scope 1 emissions reduced by 30%[49] - Scope 2 emissions reduced by 28%[49] - Scope 3 emissions (Purchased Goods & Services) reduced by 42%[49] - 80% of total energy sourced at manufacturing sites is renewable[52]

Core Insights - Fortis Inc. reported strong second quarter results for 2025, with net earnings of $384 million or $0.76 per common share, reflecting a $53 million increase from the same period in 2024 [3][8] - The company is executing a disciplined capital plan and regulatory growth strategy, positioning itself well for achieving its objectives for the year [3] Financial Performance - Net earnings for the first half of 2025 reached $883 million, or $1.76 per common share, an increase of $93 million compared to the same period in 2024 [4] - The increase in earnings was driven by rate base growth across utilities, including FortisBC Energy's Eagle Mountain Pipeline project and higher earnings at Central Hudson [3][4] - The weighted average number of common shares outstanding increased, largely due to the dividend reinvestment plan [5] Capital and Growth Updates - Fortis is on track with its $5.2 billion annual capital plan, having invested $2.9 billion in the first half of 2025 [6] - The Roadrunner Reserve 1 battery storage project, with a capacity of 200 MW, was placed in service, facilitating renewable energy integration [6] - Tucson Electric Power (TEP) plans to convert 793 MW of coal-fired generation to natural gas by 2030, which will not materially impact the current five-year capital plan [7] Regulatory Developments - TEP filed a general rate application for new rates effective September 1, 2026, requesting a net increase of US$172 million in retail revenue [13] - Central Hudson filed a joint proposal for a three-year rate plan with a continuation of a 9.5% allowed return on equity [14] Sustainability Efforts - Fortis achieved a 34% reduction in scope 1 greenhouse gas emissions through 2024 compared to 2019 levels [15] - The company aims for a coal-free generation mix by 2032 and a net-zero goal by 2050, although interim GHG reduction targets may take longer to achieve [16] Outlook - Fortis expects its $26.0 billion five-year capital plan to increase the midyear rate base from $39.0 billion in 2024 to $53.0 billion by 2029, with a compound annual growth rate of 6.5% [18] - The company anticipates long-term growth in rate base will drive earnings that support dividend growth guidance of 4-6% annually through 2029 [18]

Core Insights - Myers Industries reported Q2 2025 GAAP revenue of $209.6 million and adjusted non-GAAP EPS of $0.31, missing analyst expectations of $220.6 million in revenue [1][5] - Both revenue and earnings declined compared to the same period last year, reflecting persistent demand softness in key end markets [1][5] - Free cash flow increased significantly to $24.7 million, a 149.5% rise year-over-year, indicating improved cash management despite revenue declines [1][10] Financial Performance - Q2 2025 non-GAAP EPS was $0.31, down 20.5% from $0.39 in Q2 2024 [2][6] - GAAP revenue decreased by 4.8% from $220.2 million in Q2 2024 [2][5] - Adjusted operating income fell 20.9% to $22.8 million, while adjusted EBITDA decreased by 15.5% to $32.9 million [2][6] Segment Performance - Material Handling segment reported GAAP revenue of $158.6 million, a decline of 4.4%, but operating income improved by 2.7% due to favorable raw material costs [7] - Distribution segment generated $51.0 million in GAAP revenue, a 6.0% decline year-over-year, and recorded an operating loss of $0.5 million [8] - The company is reviewing the Myers Tire Supply business, which generated $189 million in revenue over the last twelve months, to simplify its portfolio [9][12] Strategic Focus - The company emphasizes sustainability and operational efficiency, with ongoing cost savings and process improvements [4][11] - Strategic acquisitions, such as Signature Systems, are aimed at broadening engineered product offerings [4][11] - The company is targeting $20 million in annualized cost savings by year-end, having already achieved $15 million in the first half of 2025 [9] Market Outlook - Management expects moderate to strong growth in industrial and infrastructure sectors, which accounted for 43% of revenue as of Q1 2025 [13] - Vehicle and automotive aftermarket markets are anticipated to remain weak, while consumer and food & beverage markets are projected to be stable [13] - No formal quantitative guidance for revenue or earnings was provided for the next quarter or full year, but management expressed confidence in achieving year-over-year growth in Q3 2025 [14]

Core Insights - Lifeway Foods, Inc. has been awarded Processor of the Year by Dairy Foods Magazine, recognizing its innovation, leadership, growth, and impact in the dairy industry [1][2][3] - The award reflects Lifeway's strong revenue growth, expanded distribution, and commitment to wellness and sustainability in 2025 [1][2] Company Performance - Lifeway Foods experienced record-breaking retail growth driven by increased consumer demand for functional and probiotic-rich foods [6] - The company launched innovative products such as Lifeway Probiotic Smoothie + Collagen and Flavor Fusions [6] - Engaging marketing initiatives have attracted new consumers to the kefir category [6] Leadership and Vision - Julie Smolyansky, President and CEO, emphasized the company's mission to promote the health benefits of probiotics and fermented foods [2] - Smolyansky has led Lifeway for 23 years, contributing to its growth from a small startup to a global category leader [2] Industry Recognition - Lifeway Foods will be featured in the December 2025 issue of Dairy Foods Magazine and will receive a physical award at the IDFA Dairy Forum in January 2026 [3] - The company is recognized as a pioneer in the kefir category, balancing tradition with innovation [3] Future Outlook - As Lifeway approaches its 40th anniversary in 2026, it remains focused on its mission of nourishing the body and mind through probiotics and fermented foods [4]

Core Viewpoint - Aspen Aerogels, Inc. is actively engaging with investors through participation in two upcoming conferences, highlighting its focus on sustainability and electrification solutions [1][6]. Group 1: Upcoming Investor Events - Aspen Aerogels will participate in the Oppenheimer 28th Annual Technology, Internet & Communications Conference on August 11, 2025, hosting one-on-one meetings with investors [2][3]. - The Canaccord Genuity 45th Annual Growth Conference will take place on August 12-13, 2025, where Aspen's management will also hold one-on-one meetings with investors [4][5]. Group 2: Presentation Details - At the Oppenheimer conference, a virtual presentation featuring CFO Ricardo C. Rodriguez and Senior Director Neal Baranosky is scheduled from 11:35 a.m. to 12:15 p.m. ET, with a live webcast available for one year [3]. - A Fireside Chat with President & CEO Donald R. Young and CFO Ricardo C. Rodriguez is set for August 12, 2025, from 1:30 p.m. to 2:00 p.m. ET, also with a live webcast available for one year [5]. Group 3: Company Overview - Aspen Aerogels is recognized as a technology leader in sustainability and electrification solutions, with products like PyroThin®, Cryogel®, and Pyrogel® addressing challenges in the electric vehicle and energy infrastructure markets [6].