J&J Snack Foods is rolling out a transformation programme centred on cost savings, factory consolidation and driving an uplift in profits. Dan Fachner, the CEO of the US snacks and frozen beverages business, said Project Apollo is expected to deliver $20m in annualised operating income once fully in place in its fiscal 2026 year, which started on 28 September The first phase mainly revolves around the closure of three production plants located in Holly Ridge, North Carolina; Atlanta, Georgia; and Colton, ...

Earlier this year, UPS announced it would be slashing its Amazon-related business in half.Shares of United Parcel Service (UPS +0.80%) stock have been in a tailspin this year, with concerns mounting about slowing trade and e-commerce weighing on its business. Entering trading this week, the stock price was down around 25% so far in 2025, and it has hit multi-year lows along the way.The logistics giant recently reported earnings, which gave investors some reason for optimism. UPS posted better-than-expected ...

Financial Data and Key Metrics Changes - The company reported revenue of over $1,300,000,000, an increase of 6% year-over-year, with 5% organic growth and a 1% tailwind from foreign currency [21][22] - Adjusted EBITDA rose 17% to $253,000,000, with operating profit up 24% [21][22] - EBITDA margins reached 19%, up 180 basis points from the prior year [6][21] Business Line Data and Key Metrics Changes - The ATM Managed Services and Digital Retail Solutions (AMS DRS) segment saw organic growth accelerate from 16% in Q2 to 19% in Q3, contributing to 28% of total revenue [6][14] - The Cash and Valuables Management (CVM) business remained consistent, with growth driven by pricing discipline and customer conversions to AMS DRS [14][22] Market Data and Key Metrics Changes - The company is experiencing healthy organic growth across all geographic segments, with particular strength in North America and Latin America [36][70] - The penetration rate for ATM outsourcing remains low, indicating significant market expansion opportunities [16][36] Company Strategy and Development Direction - The company is focused on delivering organic growth primarily from higher-margin subscription-based services of AMS and DRS, with expectations to increase the revenue mix to 27-28% by year-end [12][13] - The strategy includes enhancing productivity, improving capital efficiency, and maximizing shareholder value through disciplined capital allocation [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of AMS DRS, citing a robust pipeline and strong customer traction [32][36] - The company anticipates continued margin improvement and cash generation, with a target of at least 20% EBITDA margin in North America over the midterm [19][57] Other Important Information - The company has repurchased approximately 1,700,000 shares year-to-date at an average price of $89 per share, with plans to return at least 50% of free cash flow to shareholders [11][26] - The net debt to EBITDA leverage ratio was reduced to 2.9 times, within the targeted range [12][26] Q&A Session Summary Question: Can you elaborate on the client traction you're seeing in both AMS and DRS? - Management noted good visibility into Q4 and the first half of next year, with strong growth in both AMS and DRS, particularly from conversions of traditional customers [32][34] Question: What trends are you seeing in the CVM business? - The CVM business growth was impacted by conversions to AMS DRS, accounting for a 2-3 point headwind, while Global Services performed in line with expectations [37] Question: What internal strategies are driving growth in AMS DRS? - The company has expanded its incentive compensation plans to align more employees with AMS DRS growth, and is evolving to work with channel partners to enhance sales [46][51] Question: How should investors think about the margin potential in North America? - Management indicated that incremental margins are expected to be between 20% to 30%, with no artificial ceiling, and a target of at least 20% EBITDA margins in the midterm [56][57] Question: What are your thoughts on midterm goals for free cash conversion from EBITDA? - The company aims for a free cash flow conversion of 40% to 45%, driven by a favorable mix of subscription-based business models and improved collection efforts [63][66] Question: How do you view bank consolidation and its implications for your business? - Management sees bank consolidation as an opportunity for AMS solutions, providing unique offerings that can create cost synergies for consolidating banks [75][80]

Core Insights - General Electric Co (NYSE:GE) reported third-quarter results that exceeded expectations and raised its full-year guidance across various metrics [1][2] Financial Performance - Revenues increased by 25% year-on-year to $11.3 billion, with adjusted earnings at $1.66 per share, surpassing the consensus estimate of $1.46 per share [2] - The company raised its 2025 adjusted revenue growth forecast to the high-teens percentage from the previous mid-teens projection [2] - Full-year operating profit guidance was increased from $8.2-8.5 billion to $8.65-$8.85 billion, and adjusted earnings guidance was raised from $5.60-$5.80 per share to $6-$6.20 per share [3] Segment Performance - The Commercial Engines & Services (CES) segment benefited from growth in spare parts, internal shop visit revenue, and improvements in price and unit volume, which offset product mix and lower spare engine ratio [4] - The Defense & Propulsion Technologies (DPT) segment experienced strength in price, customer mix, and unit growth, which helped to offset inflation [4] Market Reaction - Shares of General Electric rose by 1.34% to $306.75 at the time of publication [4]

Core Viewpoint - The company reported strong financial performance in FY26Q1, with significant year-on-year growth in revenue and net profit, indicating robust demand and operational efficiency [3][6]. Group 1: Financial Performance - In FY26Q1, the company achieved revenue of $575 million, a year-on-year increase of 38.8% [3]. - The net profit attributable to shareholders was $31.28 million, reflecting a year-on-year growth of 174.4% [3]. - Non-GAAP net profit reached $42.05 million, up 42.0% year-on-year [3]. Group 2: Learning Services and Other - The offline small class courses remain the largest revenue contributor in the learning services segment, with stable profit margins [4]. - Enrollment in offline small class courses increased year-on-year, with a retention rate of approximately 80% [4]. - Deferred revenue at the end of FY26Q1 was $968 million, showing a year-on-year growth of 50.8%, indicating resilient demand [4]. Group 3: Content Solutions - Learning device revenue continued to grow in FY26Q1, although it saw a quarter-on-quarter decline due to seasonal factors [5]. - The average selling price of learning devices decreased, attributed to changes in product mix, with the launch of three new series [5]. - The overall weekly active rate for learning devices was around 80%, with an average daily usage time of 1 hour per device [5]. Group 4: Profitability Metrics - The company’s gross margin in FY26Q1 was 54.9%, an increase of 3.1 percentage points year-on-year [6]. - The selling expense ratio was 31.4%, up 1.9 percentage points, primarily due to increased online marketing investments [6]. - Non-GAAP operating profit margin was 4.4%, reflecting a year-on-year increase of 4.2 percentage points [6].

Financial Data and Key Metrics Changes - Revenue for the second quarter was $230 million, an 8% increase over the prior year, while constant currency revenue was approximately $233 million, representing growth of 10% [5][11] - Adjusted EBITDA increased to $93 million, up approximately 8% year over year, with an adjusted EBITDA margin of 40.3% for the quarter [5][11] - Adjusted EPS of $0.89 was up 7% year over year, driven by strong adjusted EBITDA growth and lower interest expense [5][12] - Operating cash flow for the first half of the year was approximately $86 million, with liquidity remaining strong at approximately $485 million as of June 30 [5][6] Business Line Data and Key Metrics Changes - Merchant Acquiring revenue grew 4% year over year to $47.3 million, driven by improved spread and sales volume growth [13] - Payment Services Puerto Rico revenue was $56.4 million, an increase of approximately 4% from the prior year, primarily driven by ATH Mobile and POS transaction growth [14] - Latin America Payments and Solutions revenue increased 15% year over year or 20% on a constant currency basis, benefiting from organic growth and acquisitions [15] - Business Solutions segment revenue increased approximately 4% to $64.5 million, primarily due to projects completed in the prior year [17] Market Data and Key Metrics Changes - The unemployment rate in Puerto Rico remains stable at about 5.2%, and passenger traffic in San Juan Airport was up approximately 11% year over year [6] - In Latin America, the company experienced strong performance in Brazil and Chile, with continued organic growth and contributions from recent acquisitions [15][16] Company Strategy and Development Direction - The company plans to continue focusing on technology modernization, repricing initiatives, and margin optimization to drive growth [28][30] - A refresh of the share repurchase program was approved, allowing the company to repurchase up to $150 million of its common stock through December 31, 2026 [9] - The company expects to return cash to shareholders through dividends and share repurchases while investing in long-term growth opportunities [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to convert opportunities in the active pipeline into wins over the next quarters [8] - The outlook for the second half of the year is better than initially thought, with expectations of continued strong performance in Latin America [34] - The company anticipates revenue growth of 6.6% to 7.6% for the full year, with adjusted EPS expected to grow between 4.87% from the previous year [21][25] Other Important Information - The company’s net debt position at quarter end was $673.6 million, with a weighted average interest rate of approximately 6.55% [20] - The effective tax rate for the quarter was 7.1%, with expectations of a gradual improvement in overall margin [12][24] Q&A Session Summary Question: Update on strategic initiatives and their progress - Management highlighted that the entire segment grew double digits, with significant focus on technology modernization and repricing initiatives [28][30] Question: Outlook for the second half and macroeconomic impacts - Management indicated that the second half outlook is better, with conservatism included regarding potential tariff impacts [34][36] Question: Insights on the active pipeline and business opportunities - Management confirmed a very active organic pipeline and expressed optimism about upcoming announcements [40][42] Question: Performance of ATH Mobile and its growth drivers - Management noted that ATH Mobile's growth of 17% is driven by increased usage and network effects in Puerto Rico [44] Question: Competitive advantages in Latin America - Management emphasized proprietary technology, industry expertise, and a strong local presence as key competitive advantages [63][67]

Financial Data and Key Metrics Changes - For Q3 fiscal 2025, consolidated net sales increased by 4% to $21.5 million compared to Q3 fiscal 2024 [6][15] - Gross margin reached 38.4%, an increase from 38.2% year over year, reflecting a more profitable sales mix [16] - Net income for Q3 fiscal 2025 was $122,000 or $0.01 per diluted share, down from $977,000 or $0.10 per diluted share in Q3 fiscal 2024 [16][17] - Non-GAAP adjusted net income was $228,000 or $0.02 per diluted share compared to $1.1 million or $0.11 per diluted share in the prior year [17] Business Line Data and Key Metrics Changes - Xerus Industrial's net sales increased by 7.1%, while ZERUST Oil and Gas net sales decreased by 5.3%, and Natur Tec net sales declined by 1.2% [6][11] - Natur Tec sales were $5.8 million, representing a 1.2% year-over-year decline but a 16.5% sequential increase from Q2 fiscal 2025 [12] - ZERUST Oil and Gas sales were $1.3 million compared to $1.4 million in the same period last year, with a trailing twelve-month sales increase of 15.4% [10][11] Market Data and Key Metrics Changes - Joint venture sales decreased by 12.9% year over year to $2.3 million, attributed to high energy prices and regional economic pressures in Europe [7] - NTSC China net sales increased by 27.4% to $4.5 million, marking the second highest quarterly revenue since transitioning to a wholly owned subsidiary [8][9] Company Strategy and Development Direction - The company is focused on supporting existing customers, expanding global relationships, and scaling in high-growth markets [5] - Continued investments in the oil and gas business are part of the long-term growth strategy, despite higher operating expenses [5][11] - The company is optimistic about the potential recovery in European markets due to government stimulus packages [7] Management's Comments on Operating Environment and Future Outlook - Management expects improvements in profitability in Q4 fiscal 2025 and continued progress in fiscal 2026 [6] - The company remains committed to long-term growth opportunities and believes that strategic priorities will drive sustainable growth and profitability [19] Other Important Information - As of May 31, 2025, working capital was $21.7 million, including $6.8 million in cash [18] - The Board of Directors declared a quarterly cash dividend of $0.01 per common share [19] Q&A Session Summary Question: Comments on improved quarter and operational profits - Management acknowledged significant improvement in operational profits from Q2 to Q3, with nearly all business units showing progress [22][23] Question: Cost comparison of new technology in oil and gas - Management confirmed that the new technology is cheaper on the front end compared to traditional methods, with easier installation and better long-term protection [24][28] Question: Incremental spending on sales for oil and gas - The company projected an additional $1.3 million in personnel costs for oil and gas over the past twelve months, translating to about $3.4 million in quarterly expenses [32] Question: Profitability of NTSC China - Management confirmed that NTSC China has been profitable for some time, with significant revenue growth observed [36] Question: Developments in compostable packaging - The company is working on improving the water vapor transmission rate of compostable packaging, with potential applications in food packaging expected to generate revenue in the next two years [41][42]

Group 1: Investor Relations Activities - The company held an earnings briefing on May 16, 2025, from 15:00 to 17:00 at the Shanghai Securities News Roadshow Center [3] - Participants included investors engaging in an online exchange, with key company representatives present [3] Group 2: Financial Performance and Plans - The company plans to enhance profits through increased revenue from traditional and specialized textile testing, alongside cost reduction measures [5] - As of the end of 2024, accounts receivable amounted to 78.9468 million [5] Group 3: Cash Flow and Acquisition Plans - The company reported strong operating cash flow and sufficient monetary funds for future operations [5] - Any potential mergers or acquisitions will comply with the relevant regulations and disclosure obligations [5] Group 4: Clientele and Market Position - The company operates in the quality inspection service industry, holding certifications such as CNAS, CAL, and CMA [5] - Its main business includes testing and consulting for textiles, clothing, protective gear, and toys, with a strong influence in functional testing of knitted products and fabrics [5] Group 5: Market Value Management - The company has implemented a market value management system to enhance investor returns and value [7] - A total cash dividend of 33.21 million was distributed during the reporting period [8] - The company conducted multiple investor engagement activities to ensure transparency and understanding of its operations [8]