HOUSTON, July 30, 2025 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group, Inc. (Nasdaq: SKWD) ("Skyward Specialty" or the "Company") today reported second quarter 2025 net income of $38.8 million, or $0.93 per diluted share, compared to $31.0 million, or $0.75 per diluted share, for the same 2024 period. Net income for the first half of 2025 was $80.9 million, or $1.94 per diluted share, compared to $67.8 million, or $1.65 per diluted share, for the same 2024 period. Adjusted operating income(1) for the ...

Core Insights - Southwest Airlines reported its second quarter 2025 financial results, highlighting progress in its transformational plan, including the implementation of bag fees and a basic economy product, which exceeded revenue expectations [1][6][8] - The company achieved approximately one-third of its $1.8 billion EBIT target for 2025 in the first half of the year and remains confident in meeting the remaining target in the second half [1][11] - A new $2.0 billion share repurchase program has been authorized by the Board of Directors, expected to be completed over two years, reflecting strong management execution and belief in the company's transformational plan [1][19] Financial Performance - Second quarter 2025 net income was $213 million, or $0.39 per diluted share, a decrease of 42% year-over-year [7][29] - Total operating revenues for the second quarter were $7.2 billion, down 1.5% year-over-year, with passenger revenues at $6.6 billion, a 1.3% decrease [8][29] - Operating expenses increased by 0.9% year-over-year to $7.0 billion, with CASM-X rising 4.7% [20][29] Revenue and Outlook - Domestic leisure travel stabilized in Q2 2025, with the company outperforming industry peers in domestic unit revenue [6][10] - The company expects third quarter 2025 unit revenues to range from down 2% to up 2% year-over-year, with flat capacity [10][11] - Full year 2025 EBIT guidance is set between $600 million and $800 million, driven by company-specific initiatives and improving domestic leisure travel trends [11][19] Key Initiatives - The introduction of bag fees and a basic economy product has laid the groundwork for future product differentiation, with initial financial benefits exceeding expectations [1][8] - The company has reintroduced flight credit expiration and announced partnerships with China Airlines and Icelandair [8][19] - More than 220 aircraft have been retrofitted for extra legroom seating, with assigned and premium seating sales starting on July 29, 2025, for travel beginning January 27, 2026 [8][19] Capacity and Fleet Management - The company anticipates a modest capacity increase of approximately 1% for the full year 2025, driven by improved aircraft utilization [15][16] - Fleet planning has been updated to include 47 Boeing 737-8 aircraft deliveries in 2025, with approximately 55 aircraft expected to be retired [16][17] Liquidity and Capital Deployment - The company ended Q2 2025 with $3.8 billion in cash and cash equivalents, alongside a fully available revolving credit line of $1.0 billion [22][19] - A total of $1.6 billion was returned to shareholders in Q2 2025 through dividends and share repurchases [22][19]

INVESTOR PRESENTATION JUNE 2025 DISCLAIMER Forward-Looking Statements This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "may," "will," "intend," "expect," "anticipate," "estimate," "target," and similar expressions, or the negative thereof, among others, identify forward-looking statements. All forward-looking statements are based on assumptions, expectations and other information currently available to m ...

Financial Data and Key Metrics Changes - Revenue for Q4 2024 was $242.9 million, a sequential increase of $15.1 million or 7%, and an increase of $17.4 million or 8% year-over-year [25][26] - Non-GAAP gross margin for Q4 was 42.0%, a sequential decline of 11 basis points [27] - Non-GAAP operating profit was $7.9 million or 3.3% of revenue, compared to $2.5 million or 1.1% of revenue in Q3 2024 [28] - Non-GAAP operating expenses in Q4 were $94 million, reflecting a quarter-over-quarter increase [27] Business Line Data and Key Metrics Changes - Network solutions segment delivered $197 million, accounting for approximately 81% of total revenue in Q4 [26] - Optical networking revenue increased by 16% sequentially to $81.6 million, representing 34% of total revenue [26][27] - Access and aggregation solutions grew 8% sequentially to $72.7 million, approximately 30% of total revenue [26] - Subscriber solutions category was $88.5 million, down 2% sequentially [27] Market Data and Key Metrics Changes - Non-U.S. revenue accounted for 57% of total revenue, while U.S. revenue accounted for 43% [27] - The company added 18 new customers in optical networking and 23 new service provider customers in subscriber solutions during Q4 [10][16] Company Strategy and Development Direction - The company aims to strengthen its balance sheet and is in the process of selling unused corporate real estate [34] - Focus on operational efficiency and financial discipline is expected to position the company for substantial future growth [22][36] - The company anticipates continued growth in customer base and strategic platforms, particularly in the U.S. and Europe [23] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating environment has improved significantly over the last six months, with increased bookings and positive trends [46][58] - The company expects revenue for Q1 2025 to range between $237.5 million to $252.5 million, with a non-GAAP operating margin between 0% and 4% [37] Other Important Information - The company achieved a net cash provided by operating activities of $104.3 million during 2024, a significant improvement from the previous year [22] - Free cash flow for 2024 was $39.9 million, an increase of $128.7 million from the prior year [22] Q&A Session Summary Question: Balance sheet and net cash position - Management confirmed expectations to reduce inventory and generate free cash flow, aiming for a net cash position by the end of the year [40][41] Question: Sustainability of telecom recovery - Management indicated that confidence is based on backlog and tangible orders, noting a positive trend in the operating environment [44][46] Question: Inventory reduction goals - The company aims to increase inventory turns back to the 4x range, with a gradual decline in inventory expected [51][55] Question: Impact of BEAD program - Management stated that delays in the BEAD program would not significantly impact the company, as it does not have much exposure in the current year [102] Question: Optical outlook and demand - Management expects inventory issues to clear up in Q1, with a positive outlook for optical demand [73][91]

Core Insights - HP Inc. reported a fiscal 2025 first quarter net revenue of $13.5 billion, representing a year-over-year increase of 2.4% (3.3% in constant currency) [4][7] - The company's GAAP diluted net earnings per share (EPS) was $0.59, down from $0.62 in the prior-year period, while non-GAAP diluted EPS was $0.74, down from $0.81 [5][7] - HP's operating margin decreased, with GAAP operating margin at 6.3% and non-GAAP operating margin at 7.3%, both lower than the previous year [7][39] Financial Performance - First quarter GAAP net earnings were $0.6 billion, unchanged from the prior year, while non-GAAP net earnings were $0.7 billion, down 13% [2][5] - The company generated $0.4 billion in net cash from operating activities, a significant increase of 209% year-over-year, and free cash flow was $0.1 billion, up 180% [2][8] - HP returned $0.4 billion to shareholders through share repurchases and dividends during the quarter [7] Segment Results - Personal Systems segment net revenue was $9.2 billion, up 5% year-over-year, with commercial PS revenue increasing by 10% while consumer PS revenue decreased by 7% [17] - Printing segment net revenue was $4.3 billion, down 2% year-over-year, with commercial printing revenue declining by 7% [17] - Total segment net revenue decreased by 4% quarter-over-quarter but increased by 2% year-over-year [36] Outlook - For the fiscal 2025 second quarter, HP estimates GAAP diluted EPS to be in the range of $0.62 to $0.72 and non-GAAP diluted EPS to be in the range of $0.75 to $0.85 [11] - For the full fiscal year 2025, HP anticipates GAAP diluted EPS between $2.86 and $3.16 and non-GAAP diluted EPS between $3.45 and $3.75 [12] - The company expects to generate free cash flow in the range of $3.2 to $3.6 billion for the fiscal year [12] Strategic Initiatives - HP is raising its Future Ready savings target from $1.6 billion to $1.9 billion by the end of fiscal year 2025 [5][7] - The company is focusing on building a globally diverse supply chain, with an expectation that over 90% of products sold in North America will be built outside of China by the end of fiscal year 2025 [13]