A month has gone by since the last earnings report for Alphabet (GOOGL) . Shares have added about 3.9% in that time frame, outperforming the S&P 500.But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Alphabet due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.Alphabet Q2 Earnings ...

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Financial Data and Key Metrics Changes - Net income for the third quarter was $538,000 or $0.05 per share, compared to $157,000 or $0.02 per share in the same quarter last year, reflecting a significant increase [10] - Year-to-date net income increased to $13,500,000 or $1.31 per share, up 16% from $1.15 per share in the same period last year [11] Business Line Data and Key Metrics Changes - Total delivered gas volumes increased by 6% in the quarter compared to the previous year, driven by one industrial customer with high natural gas consumption [6] - Year-to-date delivered gas volumes increased by 15% due to a colder winter, with heating degree days up 18% [7] Market Data and Key Metrics Changes - The company experienced robust residential growth, installing 3.9 new main miles, which is 50% higher than the total installed in all of fiscal 2024 [5] - The company connected 541 new services through June 30, indicating strong demand [5] Company Strategy and Development Direction - The company is focused on investing in system safety and reliability, with a high priority on the SAFE program [5] - Economic development efforts are ongoing, with significant investments in the region, including a major deal with Google [17][24] Management's Comments on Operating Environment and Future Outlook - Management anticipates a modest net loss in the fourth quarter due to weather-sensitive volumes, while monitoring inflation and interest rates [22] - The company expects customer growth and system expansion to remain strong, particularly in light of the Google investment and ongoing housing developments [30][32] Other Important Information - Total capital expenditures year-to-date were $15.7 million, down approximately 5% from the same period last year [9] - The company has successfully refinanced its midstream debt, classifying most of it as long-term, which positions it well for future cash flow enhancements [14][15] Q&A Session Summary Question: Expectations for MVP growth in 2026 and customer growth related to Google - Management expects MVP growth to be significantly higher in 2026, with plans pushed from 2025 into 2026 [29][30] Question: Customer penetration along existing mains and impact of higher electricity rates - Management noted that there is strong potential for customer growth along existing mains, driven by higher electricity rates leading to conversions from non-natural gas sources [36][38]

Core Viewpoint - Total Energy Services Inc. reported record financial results for the second quarter of 2025, driven by increased activity in Australia and strong demand in North America, despite declines in U.S. drilling and completion activity [2][18]. Financial Highlights - Revenue for the three months ended June 30, 2025, was $250.4 million, a 17% increase from $213.3 million in 2024. For the six months, revenue rose 20% to $502.3 million from $418.0 million [2]. - Operating income increased by 53% to $22.3 million in Q2 2025 from $14.6 million in Q2 2024, and for the six months, it rose 32% to $48.4 million [2]. - EBITDA for Q2 2025 was $45.4 million, up 21% from $37.4 million in Q2 2024, while for the six months, it increased 19% to $95.9 million [2]. - Net income attributable to shareholders for Q2 2025 was $17.1 million, an 11% increase from $15.5 million in Q2 2024, and for the six months, it rose 17% to $36.1 million [2]. Segment Performance Contract Drilling Services (CDS) - Revenue for CDS in Q2 2025 was $71.2 million, a 5% increase from $67.9 million in Q2 2024. For the six months, revenue rose 9% to $162.3 million [5]. - EBITDA for CDS increased by 11% to $16.0 million in Q2 2025 from $14.5 million in Q2 2024 [5]. - The segment experienced a decline in U.S. activity but was offset by increased Australian activity following the acquisition of Saxon [6]. Rentals and Transportation Services (RTS) - RTS revenue decreased by 9% to $16.2 million in Q2 2025 from $17.8 million in Q2 2024, with a 2% decline for the six months [7]. - EBITDA for RTS fell by 8% to $5.6 million in Q2 2025 [7]. - The decline was attributed to lower industry activity and a change in the mix of equipment operating [8]. Compression and Process Services (CPS) - CPS revenue increased by 22% to $133.2 million in Q2 2025 from $109.5 million in Q2 2024, and for the six months, it rose 28% to $239.4 million [9]. - EBITDA for CPS grew by 26% to $22.2 million in Q2 2025 [9]. - The segment benefited from increased fabrication sales and parts and service activity [10]. Well Servicing (WS) - WS revenue surged by 64% to $29.8 million in Q2 2025 from $18.2 million in Q2 2024, with a 47% increase for the six months [11]. - EBITDA for WS increased by 66% to $3.5 million in Q2 2025 [11]. - The growth was driven by increased activity in Australia and Canada, offsetting declines in the U.S. [14]. Financial Position - Total assets as of June 30, 2025, were $949.9 million, a 1% increase from $937.7 million in 2024 [23]. - Long-term debt and lease liabilities increased by 37% to $108.7 million [4]. - The company reported positive working capital of $111.8 million, including $34.2 million in cash [16]. Capital Expenditures and Outlook - Total Energy executed $26.3 million in capital expenditures in Q2 2025, primarily for rig upgrades and rental equipment acquisitions [15]. - The company increased its 2025 capital expenditure budget by $19.5 million to $102.4 million, focusing on growth opportunities [19]. - The CPS segment's backlog reached a record $303.9 million, providing visibility into 2026 [18].

Financial Data and Key Metrics Changes - The company reported adjusted net income of $2.28 per share for the first six months of 2025, compared to $1.6 per share for the same period last year [7] - Adjusted net income for Q2 2025 was $315,000 or $0.01 per share, an improvement from a loss of $2.8 million or $0.07 per share in Q2 2024 [17] - Year-to-date adjusted net income was $92.1 million or $2.28 per share for 2025, up from $61 million or $1.6 per share for the same period in 2024 [21] Business Line Data and Key Metrics Changes - The Northwest Natural Gas segment saw net income increase by $4.5 million or $0.12 per share, with margin increasing by $16.9 million due to new rates in Oregon [18] - Sea Energy provided net income of $1 million or $0.03 per share, with strong margin and net income trends aligning with expectations [18] - The Water segment's net income increased by $1.8 million or $0.04 per share, driven by new rates at the largest water utility in Arizona and additional revenues from acquired utilities [19] Market Data and Key Metrics Changes - The combined utility customer growth rate was 10.6% for the twelve months ended June 30, 2025, primarily driven by gas utilities in Texas [8] - Northwest Natural Water's customer base grew by 5.8% over the last twelve months, including three acquisitions [13] Company Strategy and Development Direction - The company reaffirmed its annual 2025 adjusted earnings guidance, expecting a range of $2.75 to $2.95 per share [22] - The capital expenditure plan for 2025 is projected to be between $450 million and $500 million, focusing on modernizing infrastructure and system upgrades [23] - The company aims for a long-term earnings per share growth rate of 4% to 6% compounded annually from 2025 adjusted EPS [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving financial targets for the full year, citing strong performance across all business segments [24] - The company noted that while there are signs of housing market slowdown in Texas, overall growth remains strong with significant meter additions [29] Other Important Information - The company filed a general rate case in Oregon to recover investments in gas infrastructure, expecting a modest 2.5% rate increase effective October 31 [11] - The liquidity position at June 30, 2025, was approximately $550 million, with no material debt maturities expected in 2025 [24] Q&A Session Summary Question: Update on Sea Energy's growth and backlog - Management indicated that Sea Energy is performing as expected, with strong growth and a significant backlog exceeding annual goals by midyear [28][29] Question: Scale of upcoming water rate cases - Management noted that individual water rate cases are generally small, often less than $1 million in revenue requirement, leading to multiple rate cases executed annually [30]

Financial Data and Key Metrics Changes - In Q2 2025, Eldorado Gold reported net earnings from continuing operations of $139 million or $0.68 per share, driven by higher average realized gold prices and strong gold sales, partially offset by increased production costs and income tax expenses [14] - Adjusted net earnings for the quarter were $90 million or $0.44 per share, excluding one-time non-recurring items [15] - Free cash flow for the quarter totaled negative $62 million; however, excluding capital investments in the Skirius project, free cash flow was positive $62 million compared to $34 million in Q2 2024 [15] - Total cash costs were $10.64 per ounce sold, and all-in sustaining costs stood at $15.20 per ounce sold [16] Business Line Data and Key Metrics Changes - The company achieved safe production of 133,769 gold ounces in Q2 2025, with the Lamaque complex and Kisladag exceeding expectations [7] - At the Olympias site, gold production was 15,978 ounces, with total cash costs of $15.78 per ounce sold, reflecting a 35% improvement in production and a 34% decrease in costs compared to Q1 [29] - The Kisladag operation produced 46,058 ounces at total cash costs of $11.33 per ounce sold, with production primarily driven by continued leaching of gold ounces from stacked ore [32] Market Data and Key Metrics Changes - The average realized gold price increased by 40% to $3,270 per ounce in Q2 2025, compared to $2,336 per ounce in the same period last year [16] - The company expects to produce between 460,000 and 500,000 ounces of gold in 2025, with guidance based on first-half performance [8] Company Strategy and Development Direction - Eldorado Gold is focused on advancing growth capital investments in Greece, creating diversification in its product portfolio with copper production expected to begin in 2026 [36] - The company is committed to achieving peer-leading shareholder returns supported by low-cost incremental production across its portfolio [36] - The expanded normal course issuer bid (NCIB) program aims to repurchase shares as a means of capital allocation while continuing to invest in long-term growth [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production guidance for 2025, citing a strong balance sheet and quality assets [36] - The company acknowledged higher costs due to increased royalties driven by record high gold prices and higher labor costs [8] - Management remains focused on continuous improvement in safety performance and sustainability initiatives [11] Other Important Information - The company reported a lost time injury frequency rate of 0.95, an increase from the previous year, indicating a commitment to improving safety [10] - Eldorado Gold was recognized as one of Canada's best companies in 2025 by Time, based on strong performance and sustainability transparency [12] Q&A Session Summary Question: What is the expected CapEx spend in Q2? - Management indicated that Q2 spending was in line with expectations and anticipated a ramp-up in Q3 followed by a decrease in Q4 as commissioning begins [39] Question: Can you elaborate on the critical path for the filtered tailings plant? - The filtered tailings plant is on the critical path due to redesign challenges and extensive foundation work required, but progress has been made [40][41] Question: What is the rationale behind the recent drawdown on the terminal? - The drawdown is part of utilizing a project financing facility with advantageous interest rates, allowing for flexibility in capital allocation [45][50] Question: What is the expected gold output for Q3 versus Q4 at Kisladag? - Production is expected to be steady, with grades anticipated to be lower in the second half of the year, leading to slightly lower production rates [103] Question: How will the company manage euro exposure for the Scourias project? - The company has been using forward price contracts to manage euro exposure, with minimal direct exposure expected from accounting translation [100][102]

Financial Data and Key Metrics Changes - In Q2 2025, the company's Las Vegas operations achieved net revenue of $513.3 million, a 6.2% increase year-over-year, and adjusted EBITDA of $239.4 million, up 7.3% from the previous year [6][7] - Consolidated net revenue, including $10 million from the North Fork project, was $526.3 million, reflecting an 8.2% increase year-over-year, while adjusted EBITDA was $229.4 million, up 13.7% [6][7] - The adjusted EBITDA margin for the quarter was 43.6%, an increase of 212 basis points from the prior year [7] Business Line Data and Key Metrics Changes - The gaming segment reported the highest revenue and profitability in the company's history, driven by strong visitation and spending per visit [8] - The hotel division recorded its highest second-quarter revenue and profit, supported by increased average daily rates (ADR) and occupancy [8] - The food and beverage division achieved near-record results, benefiting from higher cover counts across outlets [8] Market Data and Key Metrics Changes - The Durango Casino Resort has added over 108,000 new customers since its opening in December 2023, contributing to the growth of the Las Vegas locals market [4] - The company expects full revenue recovery over the next couple of years, supported by strong demographic growth in the Las Vegas Valley, particularly in Summerlin [5] Company Strategy and Development Direction - The company is focused on reinvesting in existing properties to enhance amenities and improve customer service while returning capital to shareholders [5] - Significant investments are being made in the Durango Casino Resort, Sunset Station, and Green Valley Ranch properties, with ongoing renovations expected to drive future growth [11][13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the business and long-term growth prospects, despite expected seasonal visitation patterns and construction disruptions [9][10] - The company anticipates that recent tax legislation will enhance discretionary income for customers, positively impacting the locals market [34][36] Other Important Information - The company declared a regular cash dividend of $0.25 per Class A common share and a special dividend of $1 per Class A common share [16] - Year-to-date capital expenditures are projected to be between $325 million and $375 million, with a focus on investment capital for ongoing projects [11] Q&A Session Summary Question: Can you unpack where you're finding incremental operating leverage? - Management noted strength across all business lines, with the best table and slot hold in company history and record hotel revenue and profitability [22] Question: Any impact from renovations in the quarter? - Minimal impact was reported from renovations, with most disruption expected in Q3 and Q4 due to ongoing construction [24][30] Question: What is the timing of construction disruption? - Management indicated that the bulk of disruption would occur in Q3 and Q4, particularly at Green Valley Ranch [30] Question: How does the new tax legislation affect the locals market? - Management expects the tax legislation to increase discretionary income for customers, benefiting the company [34][36] Question: What are the trends in new customer sign-ups? - The company reported strong growth in new customer sign-ups, particularly from the Durango property, which added 108,000 new customers [44] Question: What is the outlook for group sales and catering? - Positive forward bookings were noted, with mid-twenty percent increases in group sales expected [49] Question: How is the company positioned regarding hotel rate competition? - Management acknowledged competitive pressures but emphasized that hotel revenue represents only about 10% of overall revenue [56] Question: What is the ideal leverage range for the company? - Management expressed comfort with the current leverage position, supported by a flexible credit agreement [94] Question: How do new customers from Durango behave compared to existing customers? - New customers from Durango exhibit similar behavior to existing customers but tend to have higher spending on food and beverage [100][102]

Financial Strategy - TotalEnergies 维持季度股票回购计划 [1] - TotalEnergies 维持今年资本支出计划 [1] Financial Performance - 较低的油价对利润造成压力 [1] - 净债务增加 [1]

Core Viewpoint - Google's Q2 2025 financial results exceeded market expectations, with significant growth in cloud services and advertising revenue, indicating strong operational performance and a positive outlook for future capital expenditures [2][5]. Financial Performance - In Q2 2025, Google achieved revenue of $96.428 billion, a year-on-year increase of 13.79% and a quarter-on-quarter increase of 6.86%, surpassing market expectations of $94.02 billion [2]. - The earnings per share (EPS) for Q2 2025 was $2.31, reflecting a year-on-year increase of 22.22% but a quarter-on-quarter decrease of 17.79%, exceeding the market expectation of $2.20 [2]. Cloud Business - Google's cloud business generated revenue of $13.624 billion in Q2 2025, marking a year-on-year growth of 31.67% and a quarter-on-quarter growth of 11.13%, the highest growth rate since 2022, and surpassing market expectations of $13.1 billion [2]. - The backlog of orders in Q2 2025 increased by 18% quarter-on-quarter and 38% year-on-year, reaching $106 billion, indicating strong demand driven by AI adoption [2]. Advertising Revenue - Google's advertising revenue in Q2 2025 was $71.340 billion, with a year-on-year increase of 10.41% and a quarter-on-quarter increase of 6.66%, exceeding Wall Street expectations [2]. - Search advertising revenue was $54.190 billion, up 11.71% year-on-year, while YouTube advertising revenue reached $9.796 billion, up 13.08% year-on-year [2]. Subscription and Device Revenue - Subscription, platform, and device revenue amounted to $11.203 billion in Q2 2025, reflecting a year-on-year increase of 20.31% and a quarter-on-quarter increase of 7.94% [3]. AI and Token Usage - The usage of AI tokens has doubled, with monthly token consumption exceeding 980 trillion, up from 480 trillion announced in May 2025 [4]. - The Gemini application has reached 450 million monthly active users, contributing to a 35-fold increase in usage [4]. Capital Expenditure - Google's capital expenditure for Q2 2025 was $22.446 billion, a year-on-year increase of 70.23% and a quarter-on-quarter increase of 30.52%, exceeding market expectations [5]. - The company has raised its full-year capital expenditure forecast to $85 billion from the previous $75 billion, with a commitment to continued increases in 2026 [5]. Shareholder Returns - Google returned $13.6 billion to shareholders through stock buybacks and paid $2.5 billion in dividends [6]. Depreciation Impact - Depreciation expenses increased by $1.3 billion year-on-year to $5 billion in Q2 2025, with a growth rate of 35%, expected to accelerate further in Q3 due to increased capital expenditures [7].

Core Viewpoint - Taiwan Semiconductor Manufacturing Co (TSMC) is focusing on cautious spending while expanding globally to meet the rising demand for AI chips, despite facing macroeconomic and currency risks [1][2]. Financial Performance - TSMC reported a quarterly revenue of $30.07 billion, representing a 44% year-over-year increase in USD and a 38.6% increase in New Taiwanese dollars, driven by advanced 3nm and 5nm chip technologies [3]. - Net income rose 61% year-over-year to $2.47 per share, with gross margin expanding to 58.6% and operating margin reaching 49.6% [3]. - For the third quarter, TSMC expects revenue between $31.8 billion and $33 billion, with gross margins of 55.5% to 57.5% [4]. Market Dynamics - High-performance computing and smartphone chips accounted for 87% of TSMC's revenue, with North America contributing 75% of total sales [4]. - The company is fast-tracking its Arizona projects to meet customer demand, aiming to begin production at a second plant by 2027 [2]. Analyst Insights - Needham analyst Charles Shi maintained a Buy rating on TSMC, raising the fiscal 2025 revenue growth outlook from 24-26% to approximately 30% [5]. - Shi projected third-quarter revenue of $32.4 billion and earnings per share of $2.65, indicating a positive outlook for the company [8]. - TSMC is working on pricing increases for 2026 to potentially offset foreign exchange impacts on gross margins [7].