Year-end fiscal 2025 update November 14, 2025 Forward-looking statements and use of non-GAAP measures This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements in this presentation speak only as of today, and we assume no duty to update them. Forward- looking statements are typically identified by words such as, but not limited to: "estimates," "expects," "anticipates," "intends," "targets," "plans," "fore ...

TORONTO, Nov. 14, 2025 (GLOBE NEWSWIRE) -- Partners Value Investments Inc. (the “Company”, TSX: PVF.WT, PVF.PR.V, PVF.A) announced today its financial results for the nine months ended September 30, 2025. All amounts are stated in U.S. dollars. The Company recorded a net loss of $2.2 billion for the three months ended September 30, 2025, compared to a net loss of $1.2 billion in the prior year quarter. The increase in net loss was primarily due to current period remeasurement losses associated with the Comp ...

Accessibility StatementSkip Navigation ST. LOUIS, Nov. 14, 2025 /PRNewswire/ -- Spire Inc. (NYSE: SR) today reported results for its fiscal year 2025 ended September 30. Highlights include: For fiscal 2025, Spire reported consolidated adjusted earnings per share of $4.44, compared to $4.13 per share in fiscal 2024, representing growth of 7.5%. Gas utility earnings benefited from new rates, partially offset by lower usage net of weather mitigation at Spire Alabama, higher operation and maintenance expense an ...

Financial Performance - Net income available to shareholders for the three months ended September 30, 2025 was $453 million[9], compared to $150 million for the same period in 2024[9] - Adjusted earnings for the three months ended September 30, 2025 were $970 million[9], compared to $767 million for the same period in 2024[9] - Adjusted earnings, less notable items, for the three months ended September 30, 2025 were $261 million[9], compared to $243 million for the same period in 2024[9] - Book value per common share as of September 30, 2025 was $8160[9], while book value per common share, excluding AOCI, was $15194[9] Segment Performance (Three Months Ended September 30, 2025) - Annuities adjusted earnings were $304 million[16] - Life adjusted earnings were $40 million[16] - Run-off adjusted earnings were $641 million[16] - Corporate & Other reported an adjusted loss of $15 million[16] Key Metrics - Combined total adjusted capital was $54 billion as of September 30, 2025[9] - Combined risk-based capital ratio was between 435% and 455% as of September 30, 2025[9]

Core Insights - MetLife reported strong third quarter results for 2025, showcasing the effectiveness of its diversified business model and strategic initiatives [2][4][3] Financial Performance - Net income for 3Q 2025 was $818 million, or $1.22 per share, a decrease of 36% year-over-year [12][5] - Adjusted earnings increased by 15% to $1.6 billion, with adjusted earnings per share rising 22% to $2.37 [12][5] - Premiums, fees, and other revenues were $12.5 billion, flat compared to the prior year, but adjusted revenues excluding pension risk transfers grew by 4% [9][6] - Net investment income rose 16% to $6.1 billion, driven by higher returns on private equity assets [10][5] Segment Performance - Group Benefits adjusted earnings were $455 million, up 22%, while adjusted premiums and fees increased by 3% to $6.3 billion [20][17] - Retirement and Income Solutions (RIS) adjusted earnings decreased by 8% to $436 million, with adjusted premiums and fees down 25% [21][18] - Asia segment saw adjusted earnings surge by 77% to $543 million, with sales up 34% on a constant currency basis [25][19] - Latin America adjusted earnings fell by 33% to $147 million, impacted by a tax charge, but adjusted premiums and fees rose by 11% [26][22] - EMEA adjusted earnings increased by 26% to $88 million, reflecting strong volume growth [27][23] Strategic Initiatives - The company secured $12 billion in pension risk transfer mandates in the fourth quarter to date, indicating strong momentum [3][5] - MetLife expanded its Xcelerator program in Latin America through a partnership with Mercado Libre, enhancing its market reach [5][5] Shareholder Returns - Approximately $875 million was returned to shareholders through share repurchases and dividends [5][5] - Book value per share increased by 1% to $39.52, while adjusted book value per share rose by 3% to $56.57 [5][6]

Core Insights - CMS Energy reported earnings per share of $0.92 for Q3 2025, an increase from $0.84 in Q3 2024, with adjusted earnings per share at $0.93 compared to $0.84 in the same quarter last year [1][2] - For the first nine months of 2025, the company reported earnings per share of $2.59, up from $2.45 in 2024, with adjusted earnings per share at $2.66 compared to $2.47 in 2024, attributed to favorable regulatory outcomes and weather conditions [1][2] Financial Performance - Operating revenue for Q3 2025 was $2.021 billion, compared to $1.743 billion in Q3 2024, while operating expenses increased to $1.540 billion from $1.376 billion [6] - Net income for Q3 2025 was $272 million, up from $247 million in Q3 2024, with net income available to common stockholders at $275 million compared to $251 million in the previous year [6][7] - The company raised its 2025 adjusted earnings guidance to a range of $3.56 to $3.60 per share and initiated 2026 adjusted earnings guidance of $3.80 to $3.87 per share [2] Strategic Outlook - CMS Energy's long-term adjusted EPS growth is reaffirmed at 6 to 8 percent, with confidence towards the high end of this range [2] - The company emphasizes its strong track record of constructive regulatory outcomes, particularly in natural gas rate cases and renewable energy plans [2] Cash Flow and Capitalization - Net cash provided by operating activities for the nine months ended September 30, 2025, was $1.757 billion, while net cash used in investing activities was $(2.926) billion [7] - Total assets as of September 30, 2025, were $38.008 billion, an increase from $35.920 billion at the end of 2024 [6]

Core Insights - Shell plc reported a significant increase in income attributable to shareholders for Q3 2025, reaching $5.32 billion, a 48% increase from Q2 2025, driven by higher trading margins and sales volumes [1][2][3] - Adjusted Earnings and Adjusted EBITDA also saw increases of 27% and 11% respectively compared to Q2 2025, reflecting strong operational performance despite higher operating expenses [1][3] - The company experienced a free cash flow of $10 billion in Q3 2025, contributing to a reduction in net debt to $41.2 billion [1][5] Financial Performance - Income attributable to Shell plc shareholders for Q3 2025 was $5,322 million, compared to $3,601 million in Q2 2025 [1] - Adjusted Earnings for Q3 2025 were $5,432 million, up from $4,264 million in Q2 2025, while Adjusted EBITDA was $14,773 million, an increase from $13,313 million [1] - Cash flow from operating activities was $12.2 billion, primarily driven by Adjusted EBITDA, with tax payments of $2.7 billion impacting the inflow [4] Cash Flow and Debt Management - Cash flow from investing activities showed an outflow of $2.3 billion, including capital expenditures of $4.9 billion, partially offset by divestment proceeds of $1.8 billion [4] - Net debt decreased from $43.2 billion in Q2 2025 to $41.2 billion in Q3 2025, with gearing improving to 18.8% from 19.1% [5] - Total shareholder distributions for the quarter amounted to $5.7 billion, including $3.6 billion in share repurchases and $2.1 billion in dividends [6] Segment Performance Integrated Gas - Income for the Integrated Gas segment was $2,355 million in Q3 2025, up from $1,838 million in Q2 2025, driven by higher trading and optimisation contributions [16][18] - LNG sales volumes increased by 6% compared to the previous quarter, reflecting strong demand [16] Upstream - The Upstream segment reported income of $1,707 million for Q3 2025, a decrease from $2,008 million in Q2 2025, impacted by lower realised prices [28][31] - Total production available for sale increased to 1,832 thousand boe/d, compared to 1,732 thousand boe/d in Q2 2025 [28] Marketing - The Marketing segment's income decreased to $576 million in Q3 2025 from $766 million in Q2 2025, affected by higher operating expenses [41][43] - Adjusted Earnings for the segment increased by 10% compared to Q2 2025, reflecting improved margins [41] Chemicals and Products - The Chemicals and Products segment saw a significant turnaround with income of $1,074 million in Q3 2025, compared to a loss of $174 million in Q2 2025 [52][54] - Adjusted EBITDA for the segment increased by 93% compared to the previous quarter, driven by higher product margins [52][55] Renewables and Energy Solutions - The Renewables and Energy Solutions segment reported an income of $110 million in Q3 2025, a significant improvement from a loss of $254 million in Q2 2025 [68][71] - Cash flow from operating activities for this segment was $660 million, reflecting strong performance in trading and optimisation [68][73] Outlook - For the full year 2025, Shell expects cash capital expenditure to be between $20 billion and $22 billion, with production estimates for Integrated Gas and Upstream segments projected at approximately 920 - 980 thousand boe/d and 1,770 - 1,970 thousand boe/d respectively [90][91][92]

Core Insights - The company provides an updated outlook for Q3 2025, with results to be finalized and published on October 30, 2025 [1] Integrated Gas - Production is expected to be between 910 and 950 kboe/d, slightly lower than Q2 2025's 913 kboe/d [2] - LNG liquefaction volumes are projected to increase to between 7.0 and 7.4 million tonnes from 6.7 million tonnes in Q2 2025 [2] - Underlying operating expenses (opex) are expected to remain stable at 1.0 to 1.2 billion [2] - Pre-tax depreciation is forecasted to be between 1.4 and 1.8 billion, down from 1.6 billion in Q2 2025 [2] - Taxation charge is anticipated to be between 0.4 and 0.7 billion, a decrease from 0.5 billion in Q2 2025 [2] Upstream - Production is expected to rise to between 1,790 and 1,890 kboe/d, up from 1,732 kboe/d in Q2 2025 [4] - Underlying opex is projected to be between 1.9 and 2.5 billion, slightly lower than Q2 2025's 2.0 billion [4] - Pre-tax depreciation is expected to be between 2.3 and 2.9 billion, down from 2.4 billion in Q2 2025 [4] - Taxation charge is forecasted to be between 1.5 and 2.3 billion, a decrease from 2.2 billion in Q2 2025 [4] Marketing - Sales volumes are projected to be between 2,650 and 3,050 kb/d, down from 2,813 kb/d in Q2 2025 [6] - Underlying opex is expected to be between 2.4 and 2.8 billion, slightly lower than Q2 2025's 2.5 billion [6] - Pre-tax depreciation is forecasted to be between 0.5 and 0.7 billion, down from 0.6 billion in Q2 2025 [6] - Taxation charge is anticipated to be between 0.2 and 0.6 billion, a decrease from 0.4 billion in Q2 2025 [6] Chemicals and Products - Indicative refining margin is expected to increase to $11.6 per barrel from $8.9 per barrel in Q2 2025 [8] - Indicative chemicals margin is projected to decrease slightly to $160 per tonne from $166 per tonne in Q2 2025 [8] - Refinery utilization is expected to remain stable at 94% to 98% [8] - Chemicals utilization is projected to increase to between 79% and 83% from 72% in Q2 2025 [8] Shell Group Financials - Cash flow from operations (CFFO) is expected to be impacted by a tax payment decrease to between 2.1 and 2.9 billion from 3.4 billion in Q2 2025 [10] - Non-cash post-tax impairments of approximately $0.6 billion are anticipated in the Marketing segment due to the Rotterdam HEFA project cancellation [11] - An increase in gearing of 0.4% is expected in Q3 2025 related to new pension legislation in the Netherlands [11] Adjusted Earnings - Adjusted earnings for Q3 2025 are expected to reflect a loss in the Renewables and Energy Solutions segment, estimated between (0.2) and (0.4) billion [21][22] - Corporate adjusted earnings are projected to be between (0.5) and (0.3) billion, consistent with Q2 2025 [22]

Core Viewpoint - Brady Corporation reported strong financial results for the fourth quarter and fiscal year 2025, highlighting significant sales growth driven by acquisitions and product investments, despite a decline in net income compared to the previous year [1][4][5]. Financial Results for the Quarter Ended July 31, 2025 - Sales increased by 15.7% to $397.3 million, with organic sales growth of 2.4%, acquisition-related growth of 11.3%, and a 2.0% increase from foreign currency translation [2][9]. - Income before income taxes was $60.5 million, down from $68.2 million in the same quarter last year, while adjusted income before income taxes rose by 5.1% to $74.2 million [3][9]. - Net income decreased to $49.9 million from $55.5 million year-over-year, with diluted EPS at $1.04 compared to $1.15 previously; however, adjusted diluted EPS increased to a record $1.26 from $1.19 [4][9]. Financial Results for the Year Ended July 31, 2025 - Annual sales rose by 12.8% to $1.51 billion, with organic growth of 2.6% and a 10.5% increase from acquisitions [5][7]. - Income before income taxes for the year was $237.1 million, down from $247.8 million, while adjusted income before income taxes increased by 8.7% to $279.5 million [6]. - Net income for the year was $189.3 million, down from $197.2 million, with diluted EPS at $3.94 compared to $4.07; adjusted diluted EPS reached a record $4.60, up from $4.22 [7][9]. Regional Sales Performance - In the Americas & Asia, sales increased by 14.1%, with organic growth of 4.3%, while Europe & Australia saw an 18.8% increase, despite a 1.3% organic sales decline [2][5]. - For the fiscal year, sales in the Americas & Asia grew by 12.1%, with organic growth of 4.8%, while Europe & Australia experienced a 14.3% increase, with an organic decline of 1.8% [5][9]. Strategic Commentary - The company emphasized the success of new product investments, particularly in the Americas & Asia, and noted the strategic acquisitions of Gravotech and Mecco to enhance its product portfolio [8][10]. - Brady Corporation returned $96.4 million to shareholders through dividends and share repurchases while investing heavily in research and development [10][9]. Fiscal 2026 Guidance - The company anticipates GAAP earnings per diluted Class A Nonvoting Common Share to range from $4.55 to $4.85, representing a 15.5% to 23.1% increase compared to the previous year [11]. - Adjusted diluted EPS is expected to range from $4.85 to $5.15, indicating a 5.4% to 12.0% increase from the prior year [12].

Core Insights - Aris Mining Corporation reported strong financial and operational results for Q2 2025, highlighting record adjusted EBITDA and net earnings, alongside significant cash growth [1][5][6]. Financial Performance - Total gold production reached 58,652 ounces, a 7% increase from Q1 2025 and a 19% increase from Q2 2024 [6]. - Gold sold totaled 61,024 ounces, up 12% from Q1 2025 and 23% from Q2 2024 [5][6]. - Record revenue of $200.2 million, representing a 30% increase from Q1 2025 and a 75% increase from Q2 2024 [5]. - Adjusted EBITDA was $98.7 million, up 48% from Q1 2025 and nearly triple compared to Q2 2024 [5][6]. - Adjusted net earnings were $47.8 million or $0.27 per share, the highest since the company's formation, up from $0.16 per share in Q1 2025 and $0.08 per share in Q2 2024 [5][6]. Operational Performance - Average realized gold price increased to $3,303 per ounce sold, compared to $2,855 in Q1 2025 and $2,313 in Q2 2024 [4][5]. - Segovia operations produced 51,527 ounces with an average gold grade of 9.85 g/t [4][6]. - The all-in sustaining cost (AISC) increased to $1,681 per ounce, primarily due to higher gold prices affecting costs related to materials and royalties [6]. Growth and Expansion - The commissioning of the second mill at Segovia in June 2025 is expected to enhance production in H2 2025, targeting annual production of 210,000 to 250,000 ounces this year and 300,000 ounces next year [12][19]. - Significant investments were made in growth capital, totaling $36.7 million, with $23.6 million allocated to the Marmato Bulk Mining Zone [5][12]. - The Marmato Bulk Mining Zone construction is progressing well, with first ore and production ramp-up expected in H2 2026 [12][19]. Cash Flow and Capital Structure - Cash balance increased to $310 million as of June 30, 2025, up from $240 million at the end of Q1 2025, driven by strong cash flow generation [5][12]. - The expiry of ARIS.WT.A warrants simplified the capital structure and eliminated a source of non-cash earnings volatility [5][12].