Pallets of Coca-Cola products outside a beverage distribution center in New York. President Donald Trump pushed Coca-Cola Co. to make Coke using US cane sugar. The problem is, the soda maker can’t get its hands on enough sugar or production capacity to roll it out widely. Most Read from Bloomberg In an interview with Bloomberg News Tuesday, Chief Financial Officer John Murphy said the beverage maker is beginning to roll out Coke made with American cane sugar, but that it is limited by the US supply of ca ...

Financial Performance - Espey Mfg. & Electronics Corp. reported a net income of $1.05 per share for Q4 2025, an increase from 73 cents per share a year earlier [1] - The company generated net sales of $9.6 million in Q4 2025, down from $11.6 million in the prior-year quarter, but quarterly net income rose to $2.9 million from $1.9 million a year earlier [2] - For fiscal 2025, Espey posted a net income of $8.1 million, up from $5.8 million in the prior year, representing an increase of about 40%, with EPS rising to $3.02 from $2.29 [3] Business Metrics - Espey's backlog reached approximately $139.7 million as of June 30, 2025, with expectations to recognize 35% as revenue in fiscal 2026 [4] - Export shipments grew to $3.1 million in 2025 compared to $2.4 million a year earlier [4] - Sales concentration remained high, with six domestic customers accounting for 74% of sales in fiscal 2025, down from five customers making up 81% of sales in 2024 [5] Management Outlook - Management anticipates revenues in fiscal 2026 will be higher than in fiscal 2025, but net income per share is expected to decline due to higher anticipated costs [6] - Ongoing supply chain challenges and inflationary pressures are notable hurdles, with component waiting times approaching a year or more [6][7] Operational Factors - The improvement in net income was partly due to operational adjustments and tax benefits, with the provision for income taxes declining to $1.6 million in 2025 from $1.5 million in 2024 [8] - Espey received a $3.4 million funding award from the U.S. Navy for facility and capital equipment upgrades, expected to be completed by the end of fiscal 2026 [9] - The company finalized its withdrawal from the IBEW Local 1799 Pension Fund, making a final payment of $0.5 million in May 2025 [10]

Supply Chain Issues - Airbus experienced cash outflow in the first half of the year [1] - Supply chain challenges with engines for A320neo jets delayed new aircraft deliveries [1]

Financial Data and Key Metrics Changes - Conagra's organic net sales for Q3 were $2.9 billion, reflecting a 5.2% decline compared to the prior year [18] - Adjusted gross margin was 24.8% and adjusted operating margin was 12.7%, both down from the previous year [18] - Adjusted earnings per share (EPS) were $0.51, a decrease of $0.18 year-over-year [18] Business Line Data and Key Metrics Changes - Grocery and Snacks segment net sales were $1.2 billion, down 3.9% year-over-year due to lower volumes and unfavorable price mix [20] - Refrigerated and Frozen segment net sales were $1.1 billion, down 7.2% year-over-year, impacted by supply constraints [21] - International segment organic net sales declined 1.2% year-over-year, with volume declines partially offset by price mix increases [21] - Foodservice business organic net sales decreased 6.3% year-over-year, affected by ongoing softness in commercial traffic [22] Market Data and Key Metrics Changes - Domestic retail consumption volume increased by 1.1% compared to the prior year, indicating strong consumer demand [6] - 60% of Conagra's portfolio either held or gained volume share, outperforming peers by eight percentage points [10] Company Strategy and Development Direction - The company is focused on restoring inventory and improving customer service levels through investments in infrastructure and strategic partnerships [5] - Conagra is committed to a disciplined approach to brand building, avoiding heavy discounting to ensure long-term brand health [11] - Investments are being made to expand capacity in frozen vegetables and frozen meals to meet elevated demand [29] Management's Comments on Operating Environment and Future Outlook - Management remains vigilant regarding external factors such as tariffs, inflation, and shifts in consumer sentiment, while maintaining fiscal 2025 guidance unchanged [5][16] - The company expects total company volume to improve in Q4, driven by strong consumption trends [28] Other Important Information - The company generated $1.3 billion in net cash flows from operating activities in the first three quarters of fiscal 2025, down from the prior year but historically strong [26] - Capital expenditures for the year are expected to be approximately $410 million to support supply chain modernization [31] Q&A Session Summary - No specific questions and answers were provided in the content, thus this section is not applicable.