Value Driver Pillars Deliver Differentiated Value For Shareholders Fourth Quarter and Fiscal Year 2025 Results November 24, 2025 Cautionary Statement Information in this presentation contains forward-looking statements regarding future events and our future results within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including, but not limited to, to the extent to which we will be successful winning content on the next generation of aircraft and en ...

FORT COLLINS, Colo., Nov. 24, 2025 (GLOBE NEWSWIRE) -- Woodward, Inc. (NASDAQ:WWD) today reported financial results for its fiscal year 2025 and fourth quarter ending September 30, 2025. All amounts are presented on an as reported (U.S. GAAP) basis unless otherwise indicated. All per share amounts are presented on a fully diluted basis. All comparisons are made to the same period of the prior year unless otherwise stated. All references to years are references to the Company’s fiscal year unless otherwise s ...

Core Insights - Global Ship Lease, Inc. reported strong financial results for Q3 and the first nine months of 2025, with significant increases in operating revenue and net income, driven by higher charter rates and fleet expansion [2][4][32]. Financial Performance - Q3 2025 operating revenue reached $192.7 million, a 10.7% increase from Q3 2024, while YTD revenue for 2025 was $575.5 million, up 8.9% from the previous year [2][7]. - Net income for Q3 2025 was $92.6 million, translating to $2.59 EPS, a 17.5% increase year-over-year. For the first nine months, net income was $306.7 million, or $8.60 EPS, up 20.8% [2][33]. - Normalized net income for Q3 2025 was $93.8 million, with a normalized EPS of $2.62, reflecting an 8.3% increase from the prior year [2][34]. - Adjusted EBITDA for Q3 2025 was $130.2 million, a 5.6% increase from Q3 2024, while YTD Adjusted EBITDA was $396.7 million, up 6.9% [2][22]. Dividend and Shareholder Returns - The company declared a quarterly dividend of $0.625 per Class A common share for Q3 2025, marking a 19% increase in total annualized dividends to $2.50 per share [2][3]. - The total dividend has been increased three times since Q2 2024, amounting to a cumulative annualized increase of $1.00 per share, or 67% [3]. Fleet and Charter Coverage - The company has secured forward contract coverage for 100% of 2025, 96% of 2026, and 74% of 2027, enhancing revenue stability [1][3]. - Total contracted revenues as of September 30, 2025, reached $1.92 billion, with a weighted average remaining duration of 2.5 years [2][3]. Operational Efficiency - Fleet utilization for Q3 2025 was 95.9%, an improvement from 94.2% in the prior year, with a total of 263 days of offhire and idle time [6][10]. - The company added $778 million in contracted revenues during the first nine months of 2025, contributing to a robust revenue backlog [2][3]. Market Context - The geopolitical landscape and trade policy uncertainties have contrasted with the strong performance of the mid-sized and smaller containership charter market, driving demand for flexible tonnage [3]. - The company is positioned to capitalize on the growing containerized trade, with idle capacity in the global fleet being nearly non-existent [3].

Financial Performance - Q3 2025 - Net sales reached $804.6 million, a 7.7% increase compared to Q3 2024, with organic growth of 5.0%[16, 17] - Adjusted diluted EPS was $1.96, a 5.9% increase compared to Q3 2024[16, 17] - Adjusted operating profit margin was 21.1%, a decrease of 40 bps compared to Q3 2024[16, 17] Segment Performance - Proprietary Products net sales were $647.5 million, a 7.7% increase year-over-year, with organic growth of 5.1%[22] - Contract Manufacturing net sales were $157.1 million, an 8.0% increase year-over-year, with organic growth of 4.9%[29, 31] Revenue Breakdown - Biologics accounted for 41% of total company revenue, with sales of $329.1 million, an 11.0% increase year-over-year[19, 36] - HVP Components accounted for 48% of total company revenue, with sales of $390.0 million, a 16.3% increase year-over-year[22, 34, 38] - Generics accounted for 17% of total company revenue, with sales of $135.9 million, a 4.0% increase year-over-year[34, 36] - Pharma accounted for 22% of total company revenue, with sales of $182.5 million, a 4.7% increase year-over-year[34, 36] Geographic Performance - Americas accounted for 47% of total company revenue, with sales of $375.3 million, a 5.3% increase year-over-year[34, 40] - Europe, Middle East, and Africa accounted for 45% of total company revenue, with sales of $361.1 million, a 9.4% increase year-over-year[34, 40] - Asia Pacific accounted for 8% of total company revenue, with sales of $68.2 million, a 13.1% increase year-over-year[34, 40] Guidance - The company projects revenue between $3.060 billion and $3.070 billion for the full year 2025[43]

Financial Performance - Net earnings per diluted share decreased by 642% from $310 in 2Q24 to $111 in 2Q25[9] - Adjusted earnings per diluted share decreased by 27% from $183 in 2Q24 to $178 in 2Q25[9] - Adjusted earnings per diluted share excluding foreign currency impact decreased by 55% from $183 in 2Q24 to $173 in 2Q25[9] - U S GAAP ROE decreased from 283% in 2Q24 to 90% in 2Q25[12] - Adjusted ROE decreased from 143% in 2Q24 to 137% in 2Q25[12] - Adjusted ROE excluding foreign currency remeasurement decreased from 175% in 2Q24 to 164% in 2Q25[12] Business Segment Performance - Aflac Japan's premium persistency remained relatively stable at 933% in 2Q24 and 937% in 2Q25[15] - Aflac Japan's QTD actual operating ratios for 2Q25 include a benefit ratio of 665%, an expense ratio of 206%, and a pretax profit margin of 320%[18] - Aflac U S's persistency remained relatively stable at 787% in 2Q24 and 792% in 2Q25[20] - Aflac U S's QTD actual operating ratios for 2Q25 include a benefit ratio of 473%, an expense ratio of 363%, and a pretax profit margin of 225%[22] Capital Management - The company's estimated regulatory ESR in Japan is >240% and the combined RBC ratio in the U S is >600% as of June 30, 2025[24] - The company's adjusted leverage ratio increased from 195% in 2Q24 to 225% in 2Q25[29]

Core Insights - Aflac Incorporated reported a significant decline in total revenues and net earnings for the second quarter of 2025 compared to the same period in 2024, primarily due to net investment losses [2][3][7] Financial Performance - Total revenues for Q2 2025 were $4.2 billion, down 19.0% from $5.1 billion in Q2 2024 [2][27] - Net earnings fell to $599 million, or $1.11 per diluted share, a decrease of 65.9% from $1.8 billion, or $3.10 per diluted share, a year earlier [2][27] - Adjusted earnings for Q2 2025 were $957 million, down 7.5% from $1.0 billion in Q2 2024 [4][32] Investment Performance - The company experienced net investment losses of $421 million in Q2 2025, compared to net investment gains of $696 million in Q2 2024 [3][37] - Adjusted net investment income for Q2 2025 was $1.036 billion, a slight increase of 0.3% from $1.033 billion in Q2 2024 [38] Shareholder Equity - Shareholders' equity increased to $27.2 billion, or $50.86 per share, at June 30, 2025, compared to $26.0 billion, or $46.40 per share, at June 30, 2024 [6][39] - The annualized return on average shareholders' equity for Q2 2025 was 9.0% [6][40] Segment Performance - Aflac Japan's net earned premiums in yen decreased by 4.8% to ¥254.6 billion in Q2 2025, primarily due to internal cancer reinsurance transactions [9][10] - In dollar terms, Aflac U.S. net earned premiums increased by 3.4% to $1.5 billion in Q2 2025, reflecting improved sales and persistency [14][15] Sales and Growth - Total new annualized premium sales in Aflac Japan increased by 23.2% to ¥20.7 billion, or $143 million, in Q2 2025 [13] - Aflac U.S. sales increased by 2.7% in Q2 2025 to $340 million, benefiting from group life and disability products [16] Capital Management - The board declared a third-quarter dividend of $0.58 per share, payable on September 2, 2025 [19] - Aflac repurchased $829 million in shares during Q2 2025, with 30.9 million shares remaining authorized for repurchase [19][23]

Core Insights - Global Ship Lease, Inc. reported strong financial results for the second quarter and first half of 2025, with significant increases in operating revenue and net income compared to the same periods in 2024 [2][3][34]. Financial Performance - 2Q 2025 operating revenue reached $191.9 million, a 9.7% increase from 2Q 2024, while 1H 2025 operating revenue totaled $382.8 million, up 8.0% year-over-year [2][16]. - Net income available to common shareholders for 2Q 2025 was $93.1 million, or $2.61 EPS, reflecting an 8.8% increase from the previous year. For 1H 2025, net income was $214.1 million, or $6.01 EPS, a 22.3% increase [2][34]. - Normalized net income for 2Q 2025 was $95.1 million, with a normalized EPS of $2.67, up 9.7% from the prior year [3][35]. EBITDA and Revenue Growth - Adjusted EBITDA for 2Q 2025 was $134.2 million, a 9.7% increase from the previous year, while for 1H 2025, it was $266.5 million, up 7.6% [3][28]. - The company added $397 million in contracted revenues during 1H 2025, bringing total contracted revenues to $1.73 billion with a weighted average remaining duration of 2.1 years [3][10]. Debt and Financial Stability - As of June 30, 2025, total debt was $768.5 million, with a weighted average cost of debt at 4.18% and a weighted average maturity of 4.9 years [7][28]. - The company maintained a strong credit rating, with Moody's rating at Ba2 and S&P at BB+, both with stable outlooks [4]. Dividend and Shareholder Returns - The company declared a dividend of $0.525 per Class A common share for 2Q 2025, consistent with the previous quarter, and has approximately $33 million available for opportunistic share repurchases [8][9]. Market Conditions and Strategic Focus - The company expressed confidence in its ability to navigate a complex and volatile macro environment, emphasizing the importance of maintaining a robust balance sheet and strategic optionality [11][9]. - The management highlighted the focus on maximizing optionality while strengthening long-term resilience, with a disciplined approach to capital allocation [11][9].

Financial Performance - Aflac Incorporated reported revenues of $18.9 billion[9], net earnings of $5.4 billion[9], and adjusted earnings of $4.1 billion[9] as of December 31, 2024[8] - The company's adjusted leverage stood at 19.7%[9] as of December 31, 2024[8] - Aflac Japan's pretax adjusted earnings increased to ¥527.675 billion[39] in 2024[39], with a pretax profit margin of 36.0%[39] - Aflac U.S. reported pretax adjusted earnings of $1.419 billion[56] in 2024[56], with a pretax profit margin of 21.1%[56] Investment Portfolio - Aflac's investment portfolio has $103 billion in assets under management (AUM)[62], with 84.7% allocated to fixed maturity securities[62] - The average rating of the fixed maturities portfolio is A-[62] - The net book value of the transitional real estate (TRE) portfolio is $4.7 billion with a book yield of 8.14%[63], while the commercial mortgage loan (CML) portfolio has a net book value of $1.5 billion with a book yield of 3.44%[63] - The middle market loan portfolio has a net book value of $4.3 billion and a book yield of 10.03%[77] Capital Management - Aflac Japan's Estimated Solvency Ratio (ESRe) is >270%[70] - The Combined Risk-Based Capital (RBC) Ratio for Aflac U.S. is 677%[70]

Financial Performance - First-quarter net sales reached $698 million, a 0.4% increase[1] - Organic net sales increased by 2.1%[18] - Reported diluted EPS was $1.23, while adjusted diluted EPS was $1.45[1] - The company's full-year consolidated net sales guidance is $2.945 - $2.975 billion[42] - The company's full-year adjusted-diluted EPS guidance is $6.15 to $6.35[42] Business Segments - Proprietary Products' Q1 organic net sales increased by 2.4%[33] - High Value Products (HVP) components have grown at a CAGR of 13% in the past 5 years[21] - Annex 1 revenues accounted for approximately 200 basis points of total revenues in Q1[21] - Standard products sales were relatively flat year over year[24] - Contract Manufacturing segment is experiencing growth in GLP-1 auto-injector production, offsetting CGM contract exits[27] Profitability - Gross profit margin was 33.2% compared to 33.1% in the same period last year[29] - Reported operating profit was $107 million, while adjusted operating profit was $125 million[29]