Solidifying Boyd's Position as a Leading Player in the North American Collision Industry WINNIPEG, MB, Jan. 9, 2026 /PRNewswire/ - Boyd Group Services Inc. (TSX: BYD) (NYSE: BGSI) ("BGSI", "the Boyd Group", "Boyd" or "the Company") today announced the closing of the acquisition of Joe Hudson's Collision Center ("Joe Hudson's"), the definitive agreement to acquire Joe Hudson's having been previously announced on October 29, 2025. The acquisition adds 258 locations across the US Southeast region, increasing ...

Financial Data and Key Metrics Changes - Net sales for Q3 Fiscal 2025 were $101.9 million, down from $107.5 million in Q3 of the previous year, primarily due to a 7.4% decrease in comparable sales, partially offset by new store sales [21][22] - Gross margin rate was 42.7%, compared to 45.1% in Q3 of last year, with occupancy costs contributing to a 210 basis points decline [22] - EBITDA for the quarter was a loss of $2 million, compared to earnings of $1 million in Q3 of the previous year [23] Business Line Data and Key Metrics Changes - The shift towards value-driven private brands was noted, as these brands sell at lower average unit retails but generate higher margins [21] - The add-to-sales ratio for Q3 increased slightly to 6% from 5.7% last year, indicating strong returns from paid search and social channels [23] Market Data and Key Metrics Changes - Comparable sales were negative 6.7% in August, negative 9.3% in September, and negative 5.8% in October, with October being the best month year-to-date [21] Company Strategy and Development Direction - The merger with FullBeauty aims to create a scaled, category-defining retailer for inclusive apparel, addressing the fragmented market for plus-size and Big and Tall customers [4][10] - The combined company expects to generate $25 million in annual run rate cost synergies by 2027, enhancing financial strength and operational efficiency [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the merger's potential to create long-term value for shareholders and improve customer experience through a broader range of products and services [4][9] - The focus will be on leveraging combined strengths to drive innovation and meet evolving customer needs [8][12] Other Important Information - The merger is structured as a 100% stock-for-stock transaction, with DXL shareholders owning 45% and FullBeauty shareholders owning 55% of the combined company [17] - The transaction is expected to close in the first half of fiscal 2026, subject to customary closing conditions [19] Q&A Session Summary Question: Can you provide clarity on the expected capital structure post-closing? - The total debt expected upon closing is $172 million, with more information to be provided in the proxy statement [29][30] Question: What are the expectations for ongoing CapEx for the combined entity? - The focus will be on commercial synergies and maintaining infrastructure, with specific plans to be developed as the teams integrate [35][36] Question: What trends has FullBeauty seen in sales over the past year? - FullBeauty has experienced similar comp trends to DXL, focusing on cost structure and marketing efficiency to maintain EBITDA flow-through [55][56] Question: How will the two organizations create synergy in marketing and pricing? - The companies will explore cross-selling opportunities and leverage their respective strengths in private and national brands to enhance customer engagement [42][46]

Company Announcement No 64/2025Peberlyk 46200 AabenraaDenmarkTel +45 74 37 37 37Fax +45 74 37 35 36AL Sydbank A/SCVR No DK 12626509, Aabenraasydbank.dk8 December 2025 Choice of data centre and new profit forecast for 2025 Today the doors opened for the first time at the bank of the future – AL Sydbank A/S. The Board of Directors decided this evening that Bankdata will be the future provider of IT solutions for AL Sydbank A/S. The decision is based on an overall assessment of functionality, finances and f ...

Summary of Alaska Air Group Conference Call Company Overview - **Company**: Alaska Air Group (NYSE: ALK) - **Event**: 2025 Conference on December 04, 2025 Key Industry Insights - **Government Shutdown Impact**: The company experienced a temporary decline in bookings and revenue due to flight cancellations related to the government shutdown, but bookings have since recovered and are performing better than 95% of the days observed this year [6][8][9] - **IT Outages**: Recent IT outages were not related to the merger with Hawaiian Airlines but were isolated incidents. The company is implementing changes to improve system resilience and expects to stabilize operations quickly [14][15][16] - **Refinery Fire**: The company has returned to pre-fire fuel prices, with refining margins stabilizing. Future plans include securing consistent fuel supply to mitigate volatility in pricing [17][18][19] Financial Performance - **First Quarter Bookings**: As of now, bookings for January are approximately 30% complete, aligning with expectations. The company does not anticipate lingering impacts from the government shutdown into the first quarter [13] - **Loyalty Program Success**: The launch of the new loyalty platform, Atmos, and a premium co-brand credit card has exceeded initial expectations, with significant early demand [22][24][25] - **Hawaiian Assets Performance**: The Hawaiian segment is performing better than anticipated, nearing break-even rather than the expected $200 million loss. The brand loyalty has proven strong, particularly in key markets [29][30][31] Cost Management and Synergies - **Cost Synergies from Merger**: The company targets $200 million in cost synergies from the merger, focusing on overhead and supply chain efficiencies. Headcount optimization is ongoing post-merger [38][39][40] - **Unit Cost Inflation**: The company expects low single-digit unit cost inflation due to capacity adjustments and cost synergies, with a focus on maintaining operational efficiency [33][35] Future Outlook - **2027 EPS Target**: The company remains committed to the $10 EPS target for 2027, citing clear synergies and initiatives that are on track despite macroeconomic challenges. The management believes there are additional profit opportunities to explore [63][65][66] - **International Expansion**: Excitement surrounds the upcoming international routes from Seattle, with strong community interest and demand anticipated [58][59] Additional Considerations - **Operational Excellence**: The focus will shift back to operational excellence, with the aim of enhancing customer experience and loyalty [57] - **Market Optimization**: The company is actively optimizing its network and operations, particularly in the cargo segment, to ensure long-term profitability [55][56] This summary encapsulates the key points discussed during the Alaska Air Group conference call, highlighting the company's recovery from recent challenges, ongoing initiatives, and future growth strategies.

Core Insights - Ararat Capital Management reduced its stake in Gildan Activewear by 137,548 shares, amounting to a decrease of approximately $4.9 million, leaving it with 217,685 shares valued at $12.6 million as of September 30 [2][10] - Gildan's third-quarter revenue reached a record $911 million, although net earnings fell to $120.2 million from $131.5 million year-over-year, indicating cyclical challenges in the core business [10] - The completion of the HanesBrands acquisition is expected to double Gildan's scale and introduce at least $200 million in run-rate cost synergies, transforming Gildan into a broader global powerhouse [9][10] Company Overview - Gildan Activewear is a leading global manufacturer of basic apparel, focusing on high-volume, high-quality activewear and hosiery, with a strong portfolio of recognized brands [5][8] - The company's market capitalization is $10.9 billion, with a trailing twelve months (TTM) revenue of $3.4 billion and net income of $475.1 million [4] - Gildan's competitive advantages include operational efficiency, extensive distribution, and vertical integration across multiple geographies [5][8] Investment Position - Ararat Capital's stake in Gildan now represents 6.7% of its assets under management (AUM), ranking as its fifth-largest position [3][10] - Gildan's shares have increased by approximately 17% over the past year, outperforming the S&P 500, which rose nearly 13% in the same period [3]

Summary of Uniti Group Conference Call Company Overview - **Company**: Uniti Group (NasdaqGS:UNIT) - **Event**: 2025 Leverage Finance Conference - **Key Speakers**: Paul Bullington (CFO), Bill DiTullio (Head of Investor Relations) Key Points Industry and Company Context - Uniti Group has successfully closed the merger with Windstream, marking a new chapter for the company [5][6][12] - The company operates in three segments: Kinetic (broadband), Fiber Infrastructure, and Uniti Solutions (managed services) [6][8] Windstream Integration - The integration of Windstream is ongoing, with a focus on maintaining modularity among the three segments for strategic flexibility [9][11] - Targeting $100 million in annual run rate synergies over the first three years post-merger, with a mix of short-term and long-term initiatives [12][13] Kinetic Segment Developments - Kinetic aims to pass 3.5 million homes by the end of 2029, currently at 1.9 million, requiring a ramp-up in build pace from 200,000 to 400,000 homes per year [14][15] - Transitioning from internal crews to a mix of internal and external contractors to accelerate fiber-to-the-home builds [15][16] - Historical cost to pass for fiber-to-the-home is $600-$650, projected to rise to $850-$950 due to inflation and increased use of external contractors [19][21][23] Competitive Landscape - Kinetic's competitive position is favorable, with 60% of its footprint facing significant cable competition, compared to 80-90% for peers [30] - DSL services are experiencing competitive pressure, while fiber services remain robust [31] AI and Fiber Infrastructure Opportunities - The demand for fiber driven by AI is seen as a generational opportunity, with a current contract value funnel estimated at $1.7 billion [35][36] - Focus on dark fiber deals structured in an IRU format, which are cash accretive and leverage existing assets [36][37] Uniti Solutions Segment - Uniti Solutions is characterized as non-core but generates significant free cash flow, with a capital intensity of 10-15% [39][40] - Potential interest from pure-play managed services providers or large broadband network owners for acquisition [40][41] Valuation and Market Comparisons - Kinetic's valuation can be benchmarked against Frontier and Ziply deals, while Uniti Solutions is expected to command 3-5 times EBITDA [42][43] - Quality fiber assets are anticipated to see increased interest and valuation due to AI hyperscaler demand [43] Capital Structure and Funding - Uniti Group is optimistic about expanding its Asset-Backed Securities (ABS) market presence, with a potential issuance for Kinetic expected in the first half of 2026 [44][46] - Anticipates leverage will increase during the investment cycle, with a target to generate free cash flow by 2029 [51][52] Closing Remarks - Excitement around the merger completion, AI opportunities, and the fiberization of the Kinetic network as strategic imperatives for future growth [53]

Summary of SM Energy Company Conference Call Company Overview - **Company**: SM Energy Company (NYSE: SM) - **Event**: 2025 Conference Call - **Date**: December 02, 2025 Key Points Industry Context - The conference highlighted the recent merger between SM Energy and Civitas, marking a significant event in the energy sector [3][5][6]. Merger Details - The merger is expected to double SM Energy's size in terms of assets across four top-tier basins, enhancing operational scale and technical innovation [5][6]. - Anticipated synergies from the merger are estimated to be between **$200 million and $300 million** annually, primarily from drilling and completion (D&C) and lease operating expenses (LOE) [6][39]. - The merger is projected to improve the cost of capital, with potential savings of **$30 million to $45 million** [7][51]. Financial Outlook - The pro forma company is expected to generate approximately **$1.5 billion** in free cash flow, which will be prioritized for debt reduction [9]. - SM Energy aims to achieve **$1 billion** in divestitures within the first year post-merger to strengthen its balance sheet [8]. - The company is focused on maintaining a strong balance sheet, targeting a leverage ratio around **one times** [8][9]. Regulatory Environment - The regulatory landscape in Colorado, where SM Energy operates, has reportedly improved, facilitating better permit acquisition times [15][44]. - The management expressed confidence in navigating the regulatory environment effectively, leveraging their local expertise [15]. Capital Efficiency and Cost Management - The company is exploring capital allocation strategies, particularly in light of fluctuating commodity prices, with a focus on maximizing free cash flow rather than production [19][32]. - There is an expectation of deflation in service costs due to reduced activity levels in the industry, which could positively impact capital efficiency [31][44]. Future Considerations - The management indicated that while the immediate focus will be on integrating the merger, they remain open to exploring further opportunities for growth and value enhancement [54]. - The company is cautious about divesting too much, ensuring that it retains sufficient scale to meet investment-grade criteria from rating agencies [17][18]. Market Sentiment - Rating agencies have responded positively to the merger announcement, indicating a potential move towards investment-grade status for SM Energy [8]. Conclusion - The merger with Civitas represents a strategic move for SM Energy, aimed at enhancing operational scale, improving financial metrics, and navigating the evolving regulatory landscape effectively. The focus on cost synergies and capital efficiency will be critical in the coming years as the company integrates its operations and seeks to optimize shareholder value [5][6][8][9].

Core Insights - Gildan Activewear Inc. has completed the acquisition of HanesBrands Inc., establishing itself as a global leader in the apparel industry [1][2] - The acquisition is expected to double Gildan's scale and enhance its capabilities in activewear and innerwear, providing a strong platform for innovation and growth [2] Company Overview - Gildan is a prominent manufacturer of everyday basic apparel, offering products such as activewear, underwear, socks, and intimates to a diverse customer base including wholesale distributors and global lifestyle brands [3] - The company markets its products under a variety of owned brands, including Gildan, Hanes, and Champion, across multiple regions including North America, Europe, Asia Pacific, and Latin America [3] Manufacturing and ESG Practices - Gildan operates large-scale, vertically integrated manufacturing facilities primarily located in Central America, the Caribbean, North America, and Asia [4] - The company is committed to industry-leading labor, environmental, and governance practices, which are integral to its long-term business strategy and ESG initiatives [4] Integration and Synergies - Gildan aims to achieve at least $200 million in run-rate cost synergies from the integration of HanesBrands, emphasizing the importance of a seamless and collaborative integration process [2]

Financial Data and Key Metrics Changes - Fourth quarter net income reached a record $85.7 million, representing a 12% growth year-over-year, while diluted earnings per share (EPS) grew by only 1% due to an increase in shares outstanding from the acquisition of RJ O'Brien [2][3] - Operating revenues exceeded $1.2 billion, up 31% compared to the previous year and 17% sequentially [3] - Full fiscal year net income was a record $305.9 million, up 17%, with an EPS of $5.89 and a return on equity (ROE) of 15.6% [4][23] Business Line Data and Key Metrics Changes - Transactional volumes increased across all product offerings except for FXCFDs, with operating revenues from listed contracts rising by 76% year-over-year, driven by the acquisition of RJO [5][6] - Operating revenues from OTC derivatives increased by 27% year-over-year but declined by 1% sequentially [5] - The self-directed retail segment saw a decline in net operating revenues by 35% and segment income by 51%, primarily due to a decrease in average daily volumes [7] Market Data and Key Metrics Changes - Interest and fee income on client balances increased by $52 million or 46% year-over-year, with the acquisition of RJO contributing $50 million [5] - Average client equity increased by 71% and average money market FDIC sweep client balances rose by 25% [5] - The payments segment's net operating revenues increased by 8% year-over-year but decreased by 3% sequentially [5] Company Strategy and Development Direction - The company has been active in M&A, completing six transactions in 2025, including the transformational acquisition of RJ O'Brien, which positions the company as the largest non-bank FCM in the U.S. [8][11] - The strategy focuses on organic growth and leveraging acquisitions to enhance product offerings and market share [8][9] - The company aims to achieve significant cost and capital synergies from the RJO acquisition, estimating $50 million in annual run rate cost synergies [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the transformative potential of the RJO acquisition, highlighting strong client growth and integration progress [15][22] - The company anticipates that the combination of acquisitions and organic growth will drive results for 2026 [23] - Management noted that the overall attrition of clients post-acquisition has been limited, indicating successful integration efforts [22] Other Important Information - The company reported a notable increase in client assets under custody, contributing to a stable and predictable income stream [23] - The company has made significant enhancements to its product offerings, including the build-out of a metals vault and improvements in digital asset services [13][14] Q&A Session Summary Question: How are early cross-selling efforts with RJO clients going? - Management indicated that cross-selling efforts are progressing well, with significant interest from RJO clients in new products, although tracking revenue synergies remains challenging [25][26] Question: Did precious metals trading improve after gold was exempted from tariffs? - Management noted that the precious metals business faced challenges due to low volatility and tariff disruptions but has shown improvement in the current quarter [28] Question: What drove the increase in RPC for listed derivatives? - The increase was attributed to the introduction of the RJO business, which had higher average rates per contract compared to the company's previous offerings [30]

Financial Data and Key Metrics Changes - Fourth quarter net income reached a record $85.7 million, representing a 12% growth year-over-year, while diluted earnings per share (EPS) grew by only 1% due to an increase in shares outstanding from the acquisition of RJ O'Brien [5] - Operating revenues exceeded $1.2 billion, up 31% compared to the previous year, and up 17% from the preceding quarter [6] - Full fiscal year net income was a record $305.9 million, up 17%, with an EPS of $5.89 and a return on equity (ROE) of 15.6%, surpassing the 15% target [8][50] Business Line Data and Key Metrics Changes - Transactional volumes increased across all product offerings except for FXCFDs, with operating revenues from listed contracts rising by 76% year-over-year, primarily due to the acquisition of RJO [9] - Operating revenues from OTC derivatives increased by 27% year-over-year but declined by 1% from the previous quarter [10] - The self-directed retail segment saw a decline in net operating revenues by 35% and segment income down 51%, attributed to a 4% decline in average daily volumes and a 31% decline in rate per million [15] Market Data and Key Metrics Changes - Interest and fee income on client balances increased by $52 million or 46% year-over-year, with the acquisition of RJO contributing $50 million [11] - Average client equity increased by 71%, while average money market FDIC sweep client balances rose by 25% [11] - FXCFD revenues decreased by 34% year-over-year due to a 7% decline in average daily volume and a 32% decline in rate per million, primarily from low volatility in FX markets [10] Company Strategy and Development Direction - The company has been active in M&A, completing six transactions in 2025, including the transformational acquisition of RJ O'Brien, which positions the company as the largest non-bank FCM in the U.S. [19][24] - The strategy focuses on being disciplined in acquisitions, ensuring they are accretive to the ecosystem and enhance market share [20][21] - The company aims to leverage its expanded capabilities and client base to drive organic growth alongside its acquisitions [50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strong growth despite challenges, highlighting the importance of the RJO acquisition in driving future performance [50] - The integration of RJO is expected to create significant value, with a focus on expanding product offerings and achieving cost synergies [41][48] - Management remains optimistic about long-term growth, supported by a strong balance sheet and diverse offerings [50] Other Important Information - The company recorded pre-tax acquisition-related charges of approximately $9.3 million in the current quarter, impacting diluted EPS by about $0.13 [5] - The company anticipates achieving $50 million in annual run-rate cost synergies from the RJO acquisition within 24 months [41][44] Q&A Session Summary Question: How are early cross-selling efforts with RJO clients going? - Management noted that early cross-selling efforts are progressing well, with significant interest from RJO in learning about new products, and some transactions have already occurred [51][52] Question: Did precious metals trading improve after gold was exempted from tariffs? - Management indicated that while there were challenges in the previous quarter due to low volatility and tariff disruptions, the situation has improved, and they expect a positive trend moving forward [56][59] Question: What drove the increase in RPC for listed derivatives? - The increase was attributed to the introduction of the RJO business, which had higher average rates per contract compared to the company's previous offerings [60]