About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Core Insights - Marie Brizard Wine & Spirits (MBWS) has acquired a controlling stake in Interbrands Denmark ApS, enhancing its market presence in Denmark's wine and spirits sector [1][2] - The partnership aims to leverage the strengths of both companies to create a dynamic distribution platform, improving brand visibility and customer service [2][3] Company Overview - MBWS is a wine and spirits group with a rich history dating back to 1755, known for its innovative approach while respecting brand origins [5] - The company operates in Europe and the United States, offering a diverse portfolio of leading brands such as William Peel, Sobieski, and Cognac Gautier [5][6] Strategic Goals - The acquisition is aligned with MBWS's strategy to accelerate external growth and expand its Agency Brands business [4] - The collaboration is expected to enhance operational efficiency and competitiveness in the challenging Danish market [3][4] Market Impact - The integration of both companies' distribution networks will strengthen coverage across various trade channels, including on-trade, off-trade, and border trade [3] - This partnership is anticipated to deepen relationships with brand owners and customers, reinforcing MBWS's position as a key partner in the Danish market [2][3]

Core Insights - D&H Canada has entered into a new partnership with Dell, becoming an authorized distributor of Dell's endpoint solutions and PowerEdge servers, reflecting significant growth and partner demand for Dell's offerings [1][2][3] Company Overview - D&H Canada provides technology solutions to various markets, including corporate, SMB, mid-market, enterprise, and government, focusing on endpoints and advanced technologies [5] - The company emphasizes a "Built for Growth" mindset, offering customized services and comprehensive enablement resources to help partners capitalize on market opportunities [5] Partnership Details - The partnership with Dell allows D&H Canada to offer a range of professional-grade products, including Pro and Pro Max laptops, Chrome laptops, and PowerEdge servers, aimed at enhancing performance and productivity for end-users [2][3] - D&H Canada plans to launch a formal storage practice with Dell in the near future, further expanding its service offerings [3] Market Impact - The collaboration is expected to enhance opportunities for D&H Canada's partners, providing them with access to Dell's innovative solutions and professional services, which are designed to support business transformation [2][4] - D&H Canada's growth in market share across Canada is highlighted as a key factor in the partnership, indicating a strong position in the VAR and MSP categories [3]

Financial Data and Key Metrics Changes - Revenues for the quarter were $3.6 billion, an increase of 5% or $175 million from the same quarter last year [2] - Segment profit was $357 million, up 26% or $73 million from the third quarter of 2024 [2] - Adjusted income from continuing operations was $1.55 per share, compared to $1.40 per share in the previous year [2] - Manufacturing cash flow before pension contributions totaled $281 million, compared to $147 million in the same quarter last year [3] Business Line Data and Key Metrics Changes - Textron Aviation revenues were $1.5 billion, up 10% or $138 million from the third quarter of 2024, driven by higher aircraft revenues and aftermarket parts [10] - Bell revenues were $1 billion, up 10% or $97 million from the previous year, primarily due to higher military revenues [11] - Textron Systems revenues were $307 million, up 2% or $6 million from last year, with an increase in backlog of about $1 billion [12] - Industrial revenues were $761 million, down $79 million from last year, mainly due to the divestiture of the power sports business [12] - Textron eAviation segment revenues were $5 million, down from $6 million in the previous year [12] Market Data and Key Metrics Changes - Textron Aviation's backlog ended the quarter at $7.7 billion, reflecting strong demand [6] - Bell's backlog increased to $8.2 billion, up $1.3 billion from the prior quarter [11] - Textron Systems backlog ended at $3.2 billion, an increase of $980 million from the previous quarter [12] Company Strategy and Development Direction - The company announced the appointment of Lisa Atherton as the new President and CEO, effective January [4] - Textron Aviation is focusing on strong growth in aerospace and defense businesses, with significant certification activities and new product launches [5][7] - The company plans to eliminate the Textron Aviation segment as a separate reporting segment, realigning aviation business activities across Textron Aviation and Textron Systems [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong demand across the aviation sector, with improving margins and a robust product portfolio [19][20] - The company reiterated its full-year adjusted EPS guidance in the range of $6 to $6.20 and manufacturing cash flow expectations of $900 million to $1 billion [14] - Management acknowledged ongoing supply chain issues but noted improvements and a positive outlook for achieving revenue targets [46][48] Other Important Information - The company repurchased approximately 2.6 million shares, returning $206 million in cash to shareholders during the quarter [14] - The adjusted effective tax rate for the third quarter was 25.5%, with an expectation of approximately 21% for the full year [13] Q&A Session Summary Question: Update on MV-75 program and cost profile - Management indicated that the acceleration of the MV-75 program will not change the near-term cost profile, focusing on basic aircraft parameters [16][17] Question: Highlights on aviation demand - Management noted strong retail demand across the entire aviation portfolio, with improving margins and significant certification activities [18][19] Question: Update on MV-75 program and contract signing - Management clarified that the MV-75 program is primarily cost-plus development, with low risk in bringing forward LRIP units [24][25] Question: Long-term margin targets for aviation - Management stated that volume is the biggest lever for improving margins, with steady bookings and strong demand [30][31] Question: Supply chain impact on revenue forecast - Management acknowledged ongoing supply chain issues but expressed confidence in achieving the $6.1 billion revenue target [46][48] Question: Unmanned portfolio performance - Management reported strong performance in the unmanned systems segment, with growth expected from new developments [62][63] Question: Portfolio reevaluation post-management change - Management confirmed ongoing evaluation of the portfolio, with no immediate plans for significant changes [70]

Core Insights - The partnership model in business can lead to significant challenges, as illustrated by Andrew's experience with his pool cleaning and repair company [2][5] - Andrew's partner has not contributed effectively to the business, leading to financial strain and operational inefficiencies [3][4] Business Performance - Andrew's company generated $49,000 in revenue in the past month, indicating strong growth potential [3] - The partnership has resulted in a debt obligation of $260,000 for the purchase of a resurfacing business, creating financial pressure [3] Partnership Issues - The lack of a formal agreement between partners is a critical issue, which can lead to misunderstandings and conflicts [5] - One partner is not fulfilling their responsibilities, leading to an imbalance in workload and financial performance [4][5] - The defensive behavior of the underperforming partner highlights communication issues and differing priorities within the partnership [4]

Core Insights - SEI and Stratos Wealth Holdings have entered into a strategic partnership aimed at enhancing the growth and scalability of financial advisors' businesses [1][2] - SEI will invest approximately $527 million for a 57.5% equity stake in Stratos, with the potential to acquire 100% in the future [4][5] - The partnership is expected to leverage SEI's technology, custody, operations, and asset management capabilities to support Stratos' existing business model [2][4] Company Overview - SEI is a leading global provider of financial technology, operations, and asset management services, managing approximately $1.6 trillion in assets as of March 31, 2025 [6][7] - Stratos Wealth Holdings supports a network of independent financial advisors, advising and servicing over $37 billion in client assets [8] Leadership and Vision - Jeff Concepcion, Founder and CEO of Stratos, emphasizes the importance of SEI's investment and expertise in driving growth and enhancing service offerings for advisors [3] - Ryan Hicke, CEO of SEI, highlights the strategic investment as a reinforcement of their commitment to financial advisors and the value they provide [4]

Partnership Selection - Prioritizing partners who can provide valuable learning opportunities and contribute to business knowledge expansion is crucial [1] - Recognizing personal knowledge gaps and seeking guidance from experienced business professionals is essential for athletes transitioning into business [2] - Mentorship from business men and women who are willing to support growth is vital for personal and professional development [3] Personal Growth - Learning from diverse individuals, both men and women, within involved teams fosters personal growth [3] - Active participation and having a meaningful voice within partnerships are important [1]