grenke has reported a 5.8% increase in leasing new business in the third quarter (Q3) of 2025, amounting to €781.2m ($917m), compared to €738.5m in the same quarter of the previous year. The most leased assets were in the IT equipment category, which includes items such as laptops and software, making up 26.5% of the total contracts signed. grenke CFO Martin Paal has set a target of €2.4bn of new business for the full year. The proportion of direct business with customers remained relatively unchanged a ...

Core Viewpoint - FFW Corporation reported significant growth in net income and net interest income for the fiscal year ended June 30, 2025, indicating strong financial performance compared to the previous year [2][3]. Financial Performance - For the three months ended June 30, 2025, net income was $1,461,000 or $1.35 per common share, up from $1,118,000 or $0.99 per common share for the same period in 2024 [2]. - For the twelve months ended June 30, 2025, net income reached $5,542,000 or $5.01 per common share, compared to $4,089,000 or $3.63 per common share in 2024 [3]. - Net interest income for the three months ended June 30, 2025 was $4,385,000, an increase from $3,664,000 in the same period of 2024 [2]. - For the twelve months ended June 30, 2025, net interest income was $16,279,000, compared to $14,477,000 in 2024 [3]. Credit Losses and Noninterest Income - Credit loss expense for the three months ended June 30, 2025 was $75,000, while there was no credit loss expense for the same period in 2024 [2]. - Total noninterest income for the three months ended June 30, 2025 was $1,221,000, compared to $1,137,000 in 2024 [2]. - For the twelve months ended June 30, 2025, total noninterest income was $5,070,000, up from $4,144,000 in 2024 [3]. Expenses and Ratios - Noninterest expense for the three months ended June 30, 2025 was $3,906,000, compared to $3,641,000 in 2024 [2]. - The return on average common equity for the three months ended June 30, 2025 was 11.77%, up from 9.41% in 2024 [4]. - The return on average assets for the same period was 1.03%, compared to 0.80% in 2024 [4]. Asset Quality and Capitalization - The allowance for credit losses as a percentage of gross loans receivable was 1.35% at June 30, 2025, slightly up from 1.33% at June 30, 2024 [5]. - Nonperforming assets increased to $8,147,000 at June 30, 2025, compared to $4,044,000 at June 30, 2024 [5]. - As of June 30, 2025, the equity-to-assets ratio was 8.76%, up from 8.55% in 2024, with total assets of $570,108,000 compared to $567,363,000 in 2024 [6]. Shareholder Actions - The Corporation has an active share repurchase program, having repurchased 3,303 shares at an average price of $39.70 during the quarter ended June 30, 2025 [6].

Core Insights - Maui Land & Pineapple Company, Inc. reported strong financial performance with a 103% increase in operating revenues for the first half of 2025 compared to the same period in 2024, totaling $10,406,000 [3][9] - The company is focusing on maximizing land productivity and diversifying revenue streams, including launching an agave venture and improving leasing revenues, which increased by 46% year-over-year [2][3] Financial Performance - Operating revenues for the six months ended June 30, 2025, were $10,406,000, up from $5,128,000 in the same period in 2024, marking an increase of $5,278,000 [3][9] - Land development and sales revenues rose to $3,442,000 from $200,000, primarily due to contracting revenues from the Honokeana Homes Relief Housing Project [3][9] - Leasing revenues increased to $6,421,000 from $4,388,000, attributed to improved occupancy and updated leases [3][9] Costs and Expenses - Total operating costs and expenses for the first half of 2025 were $12,897,000, compared to $8,409,000 in 2024, an increase of $4,488,000 [3][9] - The increase in operating costs was mainly due to land development and sales costs of $3,157,000 related to the Honokeana Homes project [3][9] - Water and conservation costs rose to $1,253,000 from $709,000, reflecting increased operations and maintenance costs [3][9] Net Loss and Adjusted EBITDA - The net GAAP loss for the first half of 2025 was ($9,639,000), or ($0.49) per share, compared to a loss of ($3,247,000) or ($0.16) per share in 2024 [3][9] - Adjusted EBITDA for the six months ended June 30, 2025, was ($192,000), an improvement of $55,000 from ($247,000) in the same period in 2024 [3][9] Cash and Investments - Cash and Investments Convertible to Cash totaled $7,028,000 on June 30, 2025, down from $9,522,000 at the end of 2024, primarily due to pension termination contributions and development expenditures [3][9]

Financial Data and Key Metrics Changes - Total revenues increased by 20% to $759.1 million compared to $633.4 million in the previous year [10] - Adjusted EPS rose by 41% to $0.31 from $0.22 [13] - Adjusted EBITDA was $114 million, up 32.1% from $86.3 million, with an adjusted EBITDA margin improvement of 139 basis points to 15% [13] - Adjusted free cash flow for the twelve months ended June 2025 was $228 million, a 121.4% improvement year over year [15] Business Line Data and Key Metrics Changes - Management services, servicing, and other revenues increased by 13.6%, driven by approximately 30% growth in valuation and advisory business [10] - Leasing revenues grew by 13.8%, led by double-digit growth in retail volumes and improving office activity in key markets [10] - Capital markets revenues surged by 37.9%, reflecting a 135% increase in total debt volumes [11] - Investment sales volumes increased by 26%, outperforming the industry average of approximately 11% [12] Market Data and Key Metrics Changes - Newmark was ranked as the number one office broker in the U.S. for the first half of 2025 [8] - The company improved to number three among global sales brokers across all property types based on preliminary figures [8] - The company gained market share in capital markets and expanded its international platform, particularly in Europe and Asia [9][23] Company Strategy and Development Direction - The company is focused on expanding its occupier solutions and leasing footprint globally, providing comprehensive real estate solutions in nearly 100 countries [6] - Newmark is pivoting towards growth capital and M&A opportunities in the second half of the year, particularly in management services [25][66] - The company emphasizes organic growth and is building a diversified integrated platform to serve corporate clients [27][23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the capital markets activity, indicating a strong pipeline and potential for continued growth [21][54] - The company raised its full-year outlook for 2025, expecting total revenues between $3.05 billion and $3.25 billion, and adjusted EPS between $1.47 and $1.57 [16] - Management noted that New York City remains resilient despite potential political uncertainties, emphasizing the city's unique talent pool [58] Other Important Information - The company introduced a new reporting metric, adjusted free cash flow, to provide better insight into cash generation [14] - Total expenses for adjusted earnings increased by 18.4%, reflecting growth initiatives and higher pass-through costs [12] Q&A Session Summary Question: How has the opportunity in Germany been transpiring? - Management indicated that they launched operations in Germany about a year ago and signed 70 brokers, with a strong interest in their model [19][20] Question: Is capital markets activity sustainable? - Management believes they have a diversified mix of services and a significant runway for growth in Europe and Asia [21][23] Question: What are the expectations for adjusted free cash flow in 2025? - Management indicated a conversion ratio of about 65% to 85% depending on investments in the business [62] Question: What are the criteria for M&A? - The company focuses on bolt-on acquisitions that align with their platform and enhance recurring revenue opportunities [66]

Industry Overview - The Zacks Transportation-Services industry is currently facing challenges such as dull freight rates, high inflation, and ongoing supply-chain disruptions, along with tariff-related uncertainties and geopolitical issues [1][4][7] - Companies in this industry provide logistics, leasing, and maintenance services, focusing on global logistics management and third-party logistics solutions [3] Current Trends - Supply-chain disruptions and weak freight rates continue to negatively impact the industry, with the Cass Freight Shipments Index declining by 2.4% year over year in June, marking a deterioration for 11 consecutive months [4] - The industry is experiencing significant inflation, particularly in labor and freight costs, prompting companies to implement cost-cutting measures to improve productivity and efficiency [5] - Despite economic recovery, the industry's earnings outlook is negative, with a 31.2% decrease in earnings estimates for 2025 since August 2024 [10] Financial Performance - The Zacks Transportation-Services industry has underperformed the S&P 500, declining by 12.8% over the past year, while the S&P 500 appreciated by 12.2% [12] - The industry is currently trading at a forward price-to-sales ratio of 1.32X, significantly lower than the S&P 500's 5.26X and the sector's 1.45X [15] Company Highlights - Expeditors International of Washington (EXPD) has a Zacks Rank 2 (Buy) and has consistently beaten earnings estimates by an average of 13.3% over the last four quarters, despite facing weak volumes [17] - C.H. Robinson Worldwide (CHRW) holds a Zacks Rank 3 (Hold) and has surpassed earnings estimates by an average of 14.5% in the past four quarters, with a strong liquidity position [21] - Matson (MATX), also with a Zacks Rank 3, has implemented effective cost-management actions and has beaten earnings estimates in three of the last four quarters, with an average beat of 9.7% [24]

Core Points - The American Camp Association (ACA) has launched a $500,000 grant initiative supported by the Sumitomo Mitsui Banking Corporation (SMBC) Global Foundation to fund nonprofit camps through the Camp-School Partnership Project [1][2] - The initiative aims to enhance camp capacity for high-quality programming in collaboration with schools and community partners, focusing on increasing access for youth in underserved communities [2][3] - For summer 2025, ACA will distribute $280,000 to eight organizations, selected from nearly 120 applications, to support programming for approximately 550 campers from lower socio-economic backgrounds [3][4] Grant Details - The grants will be awarded for one year, covering the summers of 2025 and 2026, with the next application window opening in fall 2025 [1][4] - Priority will be given to camps serving youth in specific states where SMBC employees are located, including New York, New Jersey, Arizona, California, Florida, North Carolina, and Texas [4][5] About ACA - The American Camp Association serves over 15,000 camps in the US, providing quality camp experiences for 26 million campers annually [6] - ACA is the only independent national accrediting body for organized camps, ensuring health, safety, and overall well-being of campers and staff [6] About SMBC Group - SMBC Group is a leading global financial institution with a history of 400 years, offering a wide range of financial services and operating in nearly 40 countries [9][10] - The group has a significant presence in the Americas, providing commercial and investment banking services to a diverse client base [10]