Core Viewpoint - ITT Inc. has announced the appointment of Nazzic S. Keene as the new Board Chair, succeeding Timothy H. Powers, effective upon his retirement and following her election at the May 2026 Annual Meeting of Shareholders [1] Group 1: Leadership Transition - Nazzic S. Keene has been a director of ITT since October 2023 and has extensive public company leadership experience, including serving as CEO of Science Applications International Corporation [1] - Timothy H. Powers, who has been on ITT's Board since 2015 and served as non-executive Chair since 2023, will retire in 2026 [1] - Keene's leadership is expected to support ITT's long-term profitable growth and advance the company's strategy [1] Group 2: Company Background - ITT is a diversified manufacturer of highly engineered critical components and customized technology solutions for transportation, industrial, and energy markets [1] - The company is headquartered in Stamford, Connecticut, and operates in over 35 countries with sales in approximately 125 countries [1]

Core Viewpoint - Interparfums, Inc. has provided initial guidance for fiscal year 2026, projecting modest growth in net sales despite macroeconomic challenges and ongoing inventory destocking [1][4]. Financial Guidance - Net Sales for 2026 are estimated at $1.48 billion, a 1% increase from $1.47 billion in 2025 [2]. - Diluted EPS is projected to be $4.85, reflecting a 5% decline from $5.12 in 2025 [2][5]. Management Commentary - The CEO, Jean Madar, emphasized a focus on consolidation and laying the groundwork for long-term growth in 2026, with expectations for a strong performance in 2027 as new brands are distributed [3][5]. - The company anticipates that foreign exchange gains will help mitigate the impact of the expiration of the Boucheron license [4]. Strategic Initiatives - Interparfums plans to introduce new fragrance extensions for key brands, including Coach, Lacoste, Jimmy Choo, and Montblanc, among others [6][7]. - The company is set to expand its owned brand Solférino into an additional 50 doors in the first half of 2026 and will launch redesigned Goutal fragrances [7]. Future Outlook - Investments made in 2026 are expected to position the company for success in 2027, with anticipated improvements in the macroeconomic environment by late 2026 [7].

Financial Data and Key Metrics Changes - Coterra Energy reported strong third-quarter results, with oil, natural gas, and BOE production each exceeding guidance by approximately 2.5% [11][12] - Pre-hedge oil and gas revenues reached $1.7 billion, with oil production contributing 57% of revenues, up from 52% in the previous quarter, driven by an increase of 11,300 barrels per day, a 7% rise from Q2 [12][13] - Cash operating costs were $9.81 per BOE, a 5% increase quarter-over-quarter due to production mix and higher workover activity [13][19] - Free cash flow for the quarter was $533 million, benefiting from negative current taxes related to recent U.S. tax law changes [13][20] Business Line Data and Key Metrics Changes - In the Permian, Coterra had 38 net turn-in lines, slightly below guidance, while the Anadarko and Marcellus had net turn-in lines of six and four, respectively, in line with expectations [12][14] - NGL production reached an all-time high of approximately 136 MBbl per day [11] - The company expects oil production to average 175 MBbl per day in Q4, a 5% increase quarter-over-quarter [14][15] Market Data and Key Metrics Changes - Coterra's marketing team is actively engaged in discussions for new natural gas supply arrangements, with 200 million cubic feet per day committed to recent LNG deals [6][7] - The company is prepared to be patient regarding natural gas demand increases, with a focus on diversifying its portfolio [6][8] Company Strategy and Development Direction - Coterra is committed to a long-term path of consistency, profitable growth, and value creation for shareholders, with a focus on smart, full-cycle investments [3][5] - The company plans to deliver a comprehensive updated three-year outlook in February, with expectations for modestly lower capital year-over-year while maintaining production parameters [17][22] - Coterra aims to enhance capital efficiency and maintain a strong balance sheet, with a focus on shareholder returns through dividends and share buybacks [18][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the future of natural gas, citing increasing LNG exports and electricity demand as positive indicators [6][8] - The company is closely monitoring oil markets, considering various geopolitical factors, and remains disciplined in its growth strategy [5][8] - Management emphasized the importance of operational flexibility and maintaining a low breakeven portfolio to navigate commodity price volatility [17][19] Other Important Information - Coterra announced a dividend of $0.22 per share, reflecting confidence in its long-term free cash flow [18] - The company repaid $250 million of outstanding term loans, bringing total term loan pay down to $600 million through Q3 2025 [18][19] - Coterra's total debt outstanding decreased to $3.9 billion from $4.5 billion at the time of acquisitions [19] Q&A Session Summary Question: Comments on the Cambridge letter and company performance - Management acknowledged the Cambridge letter but emphasized Coterra's strong multi-basin, multi-commodity strategy, which they believe provides benefits over being a standalone entity [34][35] Question: Expectations for LOE and oil production - Management expects LOE costs to decrease as workover activities transition, with oil production anticipated to rise [36][37] Question: Cash return strategy and allocation of excess free cash flow - Management indicated a balanced approach between debt reduction and share buybacks, aiming to return to high levels of cash return to shareholders [40][42] Question: Activity in the Permian and production guidance - Management noted that production from new wells has met or exceeded expectations, with a cautious outlook for 2026 based on TIL timing [43][45] Question: Commentary on CapEx reduction and drivers - Management highlighted good asset performance as a driver for potential CapEx reduction, with a focus on cash flow and profitability rather than volume growth [49][50] Question: Insights on the Franklin Mountain and Avant acquisitions - Management reported that the integration of these assets has exceeded expectations, with improvements in productivity and cost efficiencies [53][54] Question: Value of operating as a multi-basin portfolio - Management discussed the advantages of being a multi-basin company, including operational efficiencies and better resilience during market fluctuations [57][59] Question: Plans for microgrids and power opportunities - Management confirmed ongoing efforts to expand microgrid capabilities to reduce power costs in the Permian [76][78] Question: Regional power demand growth in Northeast PA - Management expressed optimism about power demand growth in Northeast PA, with ongoing discussions for potential projects [80][82]