Meituan posted a net loss of 16 billion yuan for the September quarter, versus the 14 billion yuan average projected by analysts https://t.co/XgyT0LcF7U ...

Core Insights - Clairvest Group Inc. reported a net loss of $76.8 million for the second quarter of fiscal 2026, primarily due to a full provision for its investment in Head Digital Works, which faced adverse regulatory changes [2][8] - The company's book value decreased to $1,154 million or $83.92 per share as of September 30, 2025, down from $1,260 million or $88.94 per share as of June 30, 2025 [2][8] - Clairvest announced an agreement to acquire MGM Northfield Park for US$546 million, with expected equity investment of approximately US$165 million from Clairvest and its partners [5][8] Financial Performance - For the quarter ended September 30, 2025, Clairvest's net loss was $76.8 million, translating to $5.43 per share, largely due to a $127 million provision on the investment in Head Digital Works [3][8] - The net loss for the six months ended September 30, 2025, was $55.4 million or $3.91 per share, with a net increase of $35 million in the valuation of other private equity investments [3][8] - As of September 30, 2025, total cash and cash equivalents amounted to $263 million, representing 23% of the book value [4][8] Investment Strategy - The company plans to focus its investments in North America following negative experiences with international investments, emphasizing the importance of diversification and disciplined investing [6][8] - The acquisition of MGM Northfield Park will mark Clairvest's 14th land-based gaming investment, building on a successful track record in the sector [6][8]

Core Insights - Albemarle Corporation reported strong third-quarter results for 2025, with adjusted EBITDA increasing year-over-year despite lower lithium prices, highlighting the company's operational strength and cost management efforts [3][6][8]. Financial Performance - Net sales for Q3 2025 were $1.3 billion, a decrease of 3% from $1.4 billion in Q3 2024, primarily due to lower pricing in Energy Storage, although volumes increased [4][6]. - Adjusted EBITDA for Q3 2025 was $226 million, up $14 million from the previous year, driven by lower input costs and ongoing cost reduction initiatives [6][8]. - The net loss attributable to Albemarle was $161 million, a significant improvement from a loss of $1.07 billion in the prior year, mainly due to restructuring charges recorded in the previous period [4][6][8]. - The diluted loss per share attributable to common shareholders was $(1.72), compared to $(9.45) in Q3 2024, reflecting an 81.8% improvement [4][8]. Segment Performance - Energy Storage segment net sales were $709 million, down 8% year-over-year, with a 16% decrease in pricing offset by an 8% increase in volumes [7][8]. - Specialties segment net sales increased slightly to $345 million, a 0.8% rise, with adjusted EBITDA rising 34.2% to $76 million due to reduced manufacturing costs [10][11]. - Ketjen segment net sales were $254 million, up 3.7% year-over-year, with adjusted EBITDA decreasing slightly to $34 million due to lower prices and higher input costs [11][12]. Cash Flow and Capital Expenditures - Cash from operations for Q3 2025 was $356 million, a 57% increase year-over-year, contributing to a year-to-date total of $894 million, up 29% [8][19]. - The company reduced its full-year 2025 capital expenditures outlook to approximately $600 million, down from $1.7 billion in 2024, reflecting a focus on sustaining existing assets [19][20]. Outlook - Albemarle is enhancing its full-year 2025 outlook, expecting results to be towards the higher end of previously published scenarios due to better-than-expected performance in Energy Storage and lithium market pricing [12][14]. - The company anticipates achieving positive free cash flow of $300 to $400 million for the full year 2025 [8][19].