Core Insights - FTI Consulting has appointed four senior hires to enhance its Transformation practices in London, focusing on operational performance and transformation capabilities for Private Equity and Financial Services clients [1][2] Group 1: New Appointments - Jan Timmermann, Malvinder Singh, Rakhi Williams, and Irina Bakanova have joined FTI Consulting, with Timmermann and Singh as Senior Managing Directors and Bakanova as a Managing Director [1][2] - Timmermann brings over 25 years of experience and has led more than 80 private equity assignments, specializing in operational and carve-out due diligence [2][3] - Singh has extensive experience in technology and operational transformation projects for private equity firms, focusing on post-deal value creation [4][5] - Williams has led transformation programs for private equity and listed companies, focusing on value creation and operational performance [6][7] - Bakanova has expertise in strategy and digital transformation within financial institutions, previously serving as Head of Strategy at Zing, a fintech of HSBC [7] Group 2: Strategic Focus and Goals - The new hires will enhance FTI Consulting's capabilities in financial, operational, carve-out, and technology due diligence, positioning the firm to better support clients throughout the investment cycle [2] - Timmermann will lead the expansion of integrated operational due diligence solutions and post-deal value creation services for private equity clients [3] - Singh aims to help clients leverage advanced digital technologies to improve operational performance [5] - Williams will focus on expanding transformation and value creation solutions for private equity portfolio companies in the consumer and TMT sectors [6] - Bakanova's role will involve driving strategy and innovation within financial institutions [7] Group 3: Company Overview - FTI Consulting is a leading global expert firm specializing in crisis and transformation, with over 8,100 employees in 32 countries as of September 30, 2025 [8] - The company generated $3.70 billion in revenues during fiscal year 2024 [8]

Core Insights - FTI Consulting has appointed four senior hires to enhance its Transformation practices in London, focusing on operational performance and transformation capabilities for Private Equity and Financial Services clients [1][2] Group 1: Appointments and Expertise - Jan Timmermann, Malvinder Singh, Rakhi Williams, and Irina Bakanova have joined FTI Consulting, bringing complementary expertise in deal execution, transformation, and value creation [2] - Mr. Timmermann has over 25 years of experience and has led more than 80 private equity assignments, specializing in operational and carve-out due diligence [2][3] - Mr. Singh has extensive experience in technology and operational transformation projects for private equity firms, focusing on post-deal value creation [4][5] - Ms. Williams has led transformation programs for private equity and listed companies, focusing on value creation and operational performance [6] - Ms. Bakanova has expertise in strategy, innovation, and digital transformation within financial institutions, previously serving as Head of Strategy at Zing, a fintech of HSBC [7] Group 2: Company Growth and Strategy - FTI Consulting aims to enhance its capabilities in financial, operational, carve-out, and technology due diligence to better support clients throughout the investment cycle [2] - The firm generated $3.70 billion in revenues during fiscal year 2024, indicating strong financial performance [8] - FTI Consulting employs over 8,100 staff across 32 countries, showcasing its global reach and operational scale [8]

Core Insights - Battalion Oil Corporation reported financial and operational results for Q3 2025, highlighting a net loss of $15.0 million and an adjusted EBITDA of $18.9 million, reflecting a year-over-year increase from $13.5 million in Q3 2024 [7][5]. Financial Performance - Average daily net production for Q3 2025 was 12,293 Boe/d (53% oil), compared to 12,076 Boe/d (52% oil) in Q3 2024, indicating a production increase of approximately 217 Boe/d [5][20]. - Total operating revenue for Q3 2025 was $43.5 million, down from $45.3 million in Q3 2024, primarily due to a $2.24 decrease per Boe in average realized prices [5][14]. - Battalion realized 98.3% of the average NYMEX oil price during Q3 2025, with realized hedge gains totaling approximately $4.1 million [5][8]. Operational Highlights - Drilling operations in the West Quito Draw resulted in two new wells producing an average of 883 Boe/day over the first 120 days, with savings of over $1.1 million per well compared to AFE [3][4]. - The acid gas injection facility ceased operations on August 11, 2025, leading to a temporary shut-in of a portion of the Monument Draw field, with approximately 1,600 barrels of oil per day still shut-in [4][8]. Cost Management - Lease operating and workover expenses were $11.69 per Boe in Q3 2025, up from $11.56 per Boe in Q3 2024, attributed to increased water production and disposal costs [6]. - Gathering and other expenses decreased to $9.02 per Boe in Q3 2025 from $11.20 per Boe in Q3 2024, due to improved efficiency at central production facilities [6]. Liquidity and Financial Position - As of September 30, 2025, Battalion had $213.8 million in term loan indebtedness and total liquidity of $50.5 million [9]. - The company entered into an amendment of its credit facility on November 12, 2025, providing additional operational flexibility through June 30, 2027 [9][10]. Production and Pricing - Crude oil production for Q3 2025 was 599 MBbls, with an average price of $63.98 per Bbl, down from $73.73 per Bbl in Q3 2024 [20]. - Total production volumes for Q3 2025 included 1,131 MBoe, with average prices per Boe at $38.36, compared to $40.60 in Q3 2024 [20].

Core Insights - FormFactor, Inc. reported a significant increase in its stock price, rising over 24% due to improved operational performance and a return to growth in sequential sales [1] Financial Performance - The company demonstrated very positive numbers, indicating a strong recovery in its financial metrics [1] Market Reaction - The substantial rise in share price reflects investor confidence following the reported operational improvements [1]

Core Insights - The company reported an industry-leading safety performance with a 12-month Serious Accident Frequency Rate maintained at 0 [2] - Operational performance for the quarter was broadly in line with expectations, with a strong increase in ROM production run rate due to significant progress in waste removal and pit preparation [3] - A slight revision to full year saleable production guidance was made, maintaining the lower end of consolidated guidance while narrowing the upper end due to lower expected output from the Isaac Plains Complex [4] Operational Performance - The quarter showed a strong pickup in saleable production quarter-on-quarter, positioning the business well for a strong fourth quarter [3] - The Isaac Plains Complex faced challenges due to adverse weather in the first half, leading to a bottlenecked CHPP in the fourth quarter [4]

Core Viewpoint - Northern Star Resources Limited reported a busy December quarter, focusing on strengthening its asset base for significant growth in free cash flow generation [3]. Operational Performance - The company achieved increased milling performance, selling 410,000 ounces of gold at an all-in sustaining cost of A$2,128 per ounce [4]. - The operational focus remains on performance, cost control, and capital discipline to enhance shareholder value [4]. Financial Position - Northern Star is in a strong financial position with an investment-grade balance sheet, reporting net cash at the end of the quarter [5]. - The company is well-positioned to fund all capital management initiatives and is on track to meet its full-year production and cost guidance [5].

Core Insights - Integra LifeSciences reported Q2 2025 revenue of $415.6 million, exceeding the consensus estimate of $395.0 million by 5.2% [1][5] - Adjusted EPS for the quarter was $0.45, slightly above the expected $0.44, but down 28.6% year-over-year from $0.63 [1][2] - The company faced significant challenges, including a $511 million non-cash goodwill impairment and declining margins, leading to negative free cash flow of ($11.2 million) [1][8][9] Financial Performance - Revenue for Q2 2025 was $415.6 million, a decrease of 0.6% from Q2 2024's $418.2 million [2][5] - Adjusted gross margin fell to 60.7%, down from 65.2% year-over-year, reflecting profitability pressures [2][8] - Adjusted EBITDA decreased by 15% to $71.2 million compared to $83.8 million in Q2 2024 [2][8] Segment Performance - The Codman Specialty Surgical division generated $304.0 million in revenue, accounting for about 70% of total sales, with modest organic growth of 0.3% [6] - The Tissue Technologies segment, representing approximately 30% of revenue, saw a decline of 4.1% year-over-year, although Integra Skin rebounded with 20% growth [7] - Instruments revenue dipped 2.8% organically due to order timing issues [6] Operational Challenges - The company experienced negative free cash flow and increased net debt, which rose to $1.59 billion, with leverage at 4.5 times EBITDA [9] - Tariff impacts reduced EPS by $0.04 in the quarter, with projected impacts of $0.22 on adjusted EPS [10] - Ongoing compliance and operational improvements are being prioritized, with a focus on resolving FDA warning letters [11] Strategic Focus and Outlook - Integra aims to drive innovation, expand internationally, and enhance operational performance to compete against larger medical technology firms [4] - Management provided guidance for Q3 2025 revenue between $410–$420 million and full-year revenue forecast of $1.655 billion to $1.680 billion, reflecting a 2.8% to 4.3% increase from the previous year [12] - Organic growth expectations for the full year are now set at 0.6% to 2.1% [12]