The UK has identified which military units it would send to Ukraine after a series of reconnaissance visits in the country, ensuring it would be ready to swiftly deploy troops if the latest effort to revive peace talks succeeds https://t.co/rTTuO8oXcg ...

Business is booming for private soldiers. The Economist analyses what the growing demand for hired guns means for the future of conflict.Listen to The Economist’s interview with America’s most infamous mercenary, Erik Prince, the founder of the private military company Blackwater: https://t.co/7WtddJcvD1 ...

Financial Data and Key Metrics Changes - In Q3, net sales reached $155.9 million, representing a 42% year-over-year increase [18] - Gross margin improved by 610 basis points year-over-year and 180 basis points sequentially, driven by favorable pricing and the absence of prior year inventory step-up amortization [18] - The company reaffirmed its 2025 guidance, expecting net sales between $624 million and $630 million, and adjusted EBITDA between $112 million and $116 million, implying adjusted EBITDA margins of 18.2% [19] Business Line Data and Key Metrics Changes - The organic backlog increased by $20 million sequentially, indicating strong demand and successful booking of previously delayed opportunities [8] - The EOD business, MedEng, was awarded a $50 million IDIQ contract by the U.S. Department of Defense, marking a significant achievement [10] - The company reported strong demand for armor and duty gear, contributing to organic growth despite challenging year-over-year comparisons due to cybersecurity impacts [44] Market Data and Key Metrics Changes - The law enforcement market is experiencing rising safety threats globally, with increasing investments in protective equipment [12] - In the nuclear sector, long-term demand is driven by policy and commercial tailwinds, with significant government and private sector support [12] - The company is strategically positioned to support the full nuclear life cycle, capitalizing on expanding national defense initiatives [13] Company Strategy and Development Direction - The company is focused on disciplined M&A, with the recent agreement to acquire Tier Tactical, enhancing its portfolio in mission-critical products [4][5] - The acquisition aims to unlock new growth opportunities in high-value end markets, particularly in Northern Europe [5] - The company continues to see robust acquisition pipelines in both public safety and nuclear markets, emphasizing a patient and disciplined approach [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver long-term value creation for shareholders, supported by a strong culture and resilient business model [6] - The macro environment remains dynamic, but the company has made considerable progress in booking large opportunities, reflected in significant backlog growth [14] - Management remains optimistic about future growth opportunities, particularly in the context of government funding and security needs for large-scale events [58] Other Important Information - The company has deployed over $400 million in acquisitions over the past 24 months, reinforcing its commitment to expanding its diversified platform of durable safety businesses [5] - The company has maintained a strong free cash flow generation, allowing for dividend payments while supporting organic growth and M&A objectives [9] Q&A Session Summary Question: Thoughts on sequential margin improvement - Management noted broad-based margin improvement across all major categories, driven by productivity and positive mix [25] Question: Progress on the Cadre operating model - Management reported exceptional progress in adopting the operating model across various international teams, with positive cultural feedback [26] Question: Long-term opportunity with the $50 million IDIQ contract - Management highlighted the commitment from the Department of Defense and the potential for future international opportunities [28][30] Question: Expected gross margin for Q4 - Management anticipates gross margins to land between Q2 and Q3 rates, with a positive outlook for the remainder of the year [34] Question: Impact of government shutdown on guidance - Management has considered potential delays in guidance due to the government shutdown but remains optimistic about covering any slippages [50][56] Question: Input costs and inflation outlook - Management indicated that input costs have remained consistent, with no significant changes expected in the inflation environment [63] Question: New product mix and innovation history - Management noted a significant refresh of the product portfolio in recent years, with expectations for continued innovation from the Tier acquisition [66]

Erik Prince, the founder of the infamous private military company, Blackwater, is back. On “The Weekend Intelligence” @TomGardner18 asks what his return means https://t.co/hIKqCsZdnv ...

Australian women launch landmark sexual abuse lawsuit against military https://t.co/BI7TxBle0a ...

Conflict brings misery, but also fuels demand. The business of private military companies is thriving. We explain why https://t.co/KNSv6j2B97Photo: Getty Images https://t.co/S6wwFsTuo0 ...

Conflict brings misery, but also fuels demand. The business of private military companies is thriving. We explain why https://t.co/CSRU30hUex ...

RT Dagny Taggart (@DagnyTaggart963)Americans will guide Tomahawks to targets in RussiaIf the US supplies Ukraine with Tomahawk cruise missiles, Ukrainian military personnel might not even be trained to use them. Financial Times writes that American contractors will take over missile control. This way, Washington "will maintain full control over targeting and launching."According to a Western military source, these missiles alone will not change the course of the war but will allow the US to manage the proce ...

Economic Indicators - China's aggregate financing for September reached 30.09 trillion CNY, exceeding the estimated 29.905 trillion CNY and the previous month's 26.556 trillion CNY, indicating stronger-than-expected credit expansion [3][8] - New yuan loans for September were 14.750 trillion CNY, slightly below the estimated 14.919 trillion CNY but an increase from the prior month's 13.459 trillion CNY [3][8] - The M2 money supply grew by 8.4% year-over-year, slightly missing the 8.5% estimate and down from the previous 8.8% [4] - M1 money supply saw a robust increase of 7.2% year-over-year, exceeding the 6.1% estimate and the previous 6.0% [4][8] - M0 money supply rose by 11.5% year-over-year, matching the previous month's growth [4] U.S. Government Shutdown - The U.S. federal government is in its 15th day of shutdown due to a failure to pass appropriations legislation for the 2026 fiscal year, resulting in furloughs for approximately 900,000 federal employees and 700,000 working without pay [5][8] European Telecommunications Sector - Altice France rejected a €17 billion ($19.7 billion) bid from a consortium led by Bouygues for its SFR mobile unit, highlighting ongoing challenges in the French telecom market [6][8] UK Financial Regulation Changes - The UK's financial regulators announced plans to cut the bonus deferral period for senior bankers from eight to four years, effective October 16, 2025, aiming to enhance competitiveness and align with other jurisdictions [9][8] European Defense Initiatives - The European Union is advancing a military plan for 2026, focusing on drone and air defense projects amidst rising security concerns and a push for increased industrial integration [7][8]

The U.S. military is making one of its most significant pushes yet into modern nuclear power with a program to put small reactors on Army bases https://t.co/yQ3I6rZbIv ...