Tractor Supply (TSCO 0.03%), a leading rural lifestyle retailer serving recreational farmers, ranchers, and others who enjoy the rural lifestyle, released its second quarter 2025 results on July 24, 2025. GAAP revenue was $4.44 billion, beating the consensus GAAP estimate of $4.39 billion. Reported earnings per share (GAAP) were $0.81, ahead of the expected $0.80. While operating income, net income, and comparable store sales (GAAP) showed measured improvement over the prior year, Operating expense growth c ...

Darling Ingredients (DAR -2.47%), a global ingredients processor specializing in upcycling animal by-products and food waste, reported its second quarter fiscal 2025 results on July 24, 2025. The company reported GAAP EPS of $0.08, far below the consensus estimate of $0.24, largely due to weak profitability in its Diamond Green Diesel renewable fuels joint venture. Revenue (GAAP) came in slightly above expectations at $1.5 billion, but profitability metrics pointed to continued challenges for the period. Ye ...

Darling Ingredients (DAR) reported $1.48 billion in revenue for the quarter ended June 2025, representing a year-over-year increase of 1.8%. EPS of $0.09 for the same period compares to $0.49 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.48 billion, representing a surprise of +0.32%. The company delivered an EPS surprise of -25%, with the consensus EPS estimate being $0.12.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Financial Results Q2 2025 July 24, 2025 This presentation includes "forward-looking" statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the statements. Statements that are not statements of historical facts are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "estimate," "guidance," "outlook," "project," "planned," "c ...

Financial Data and Key Metrics Changes - Adjusted EBITDA increased by 6% and adjusted EPS increased by 12% compared to the previous year [9] - Net income attributable to Kinder Morgan was $715 million, a 24% increase from the second quarter of 2024 [20] - Adjusted net income was $619 million, with adjusted EPS of $0.28, reflecting a 13% increase from the previous year [21] - Net debt at the end of the quarter was $32.3 billion, with a net debt to adjusted EBITDA ratio of 4.0x, down from 4.1x in the previous quarter [22] Business Line Data and Key Metrics Changes - Natural gas transportation volumes were up 3% due to LNG deliveries, while natural gas gathering volumes decreased by 6% [16] - Refined products and crude volumes both increased by 2% compared to the previous year [17] - The CO2 segment saw a 3% decrease in oil production volumes but a 13% increase in NGL volumes [19] Market Data and Key Metrics Changes - U.S. natural gas demand is expected to grow by 20% by 2030, with significant contributions from LNG exports [10] - LNG feed gas demand in the U.S. is projected to increase by 3.5 BCF per day this summer compared to 2024, and more than double by 2030 [7] Company Strategy and Development Direction - The company aims to own and operate stable fee-based assets, using cash flow to invest in attractive return projects while maintaining a solid balance sheet [14] - The project backlog increased from $8.8 billion to $9.3 billion, with new projects added and existing projects placed in service [12] - The company is focused on expanding its natural gas pipeline network to support growing demand [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth of natural gas demand, driven by population growth and the transition to cleaner energy sources [4] - The federal permitting environment has improved, allowing for quicker project approvals [10] - Management expects significant cash tax benefits from recent tax reforms, with no material cash tax liability anticipated until 2028 [11] Other Important Information - The company declared a quarterly dividend of $0.29 per share, an increase of 2% from the previous year [20] - Moody's and S&P have placed the company's credit rating on a positive outlook [25] Q&A Session Summary Question: Has the commercial landscape changed with demand tailwinds? - Management noted that their existing asset footprint and track record in project delivery have allowed them to remain competitive in securing projects [28] Question: What is the progress on building additional natural gas infrastructure in Arizona? - Management acknowledged the need for more natural gas in Arizona and mentioned ongoing discussions regarding potential projects [31] Question: How does the company view capital allocation between gas pipelines and gathering investments? - Management emphasized that investment decisions are based on risk-reward assessments, with no change in their approach to capital allocation [36] Question: What is the outlook for behind-the-meter opportunities? - Management indicated that most activity is seen from regulated utilities, with potential for future projects as IPPs secure contracts [40] Question: How does the company view the risk of Permian overbuild? - Management expressed confidence in their existing contracts and the ability to extract value from their pipelines, viewing the risk as low [80][82] Question: What is the expected timeline for the Haynesville gathering project? - Management plans to have facilities in service by the end of the fourth quarter next year, with volume ramp-up expected [87]

Core Insights - KBR has been awarded a front-end engineering design (FEED) contract for an ammonia and urea production plant in Basra, Iraq [1][2] - The facility will produce 2,300 metric tons per day (MTPD) of ammonia and 3,850 MTPD of urea, utilizing KBR's proprietary ammonia technology [2] - The project aims to enhance Iraq's agricultural industry, create jobs, and reduce fertilizer imports, positioning Iraq as a global ammonia producer [3] Company Overview - KBR provides science, technology, and engineering solutions globally, employing approximately 38,000 people and serving customers in over 80 countries [4] - The company has extensive experience, having been involved in the licensing, design, engineering, and construction of more than 260 ammonia plants worldwide [3][4]

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Company Overview - JPMorgan upgraded Phibro Animal Health Corporation (PAHC) due to strong execution following its $350 million acquisition of Zoetis' medicated feed additive and water-soluble product portfolio, which includes 37 product lines sold in about 80 countries and six manufacturing sites across the U.S., Italy, and China [1] - The acquisition is expected to enhance Phibro's profitability, improve EBITDA margins, and be accretive to adjusted earnings per share [1] Financial Performance - In Q3 2025, Phibro's sales reached $347.8 million, an increase of $84.6 million, or 32% year over year, although it missed the consensus estimate of $352.40 million [3] - Adjusted earnings for the same period were 63 cents, surpassing the consensus of 52 cents [3] Guidance and Market Outlook - Phibro raised its fiscal 2025 adjusted earnings per share guidance from $1.87-$2.01 to $1.96-$2.09, compared to the consensus of $1.94 [4] - The company revised its sales guidance from $1.25 billion-$1.30 billion to $1.26 billion-$1.29 billion, against a consensus of $1.28 billion [4] - Analyst Knyazkova noted that despite a strong performance in PAHC shares this year, there remains a favorable setup for further upside to estimates and attractive valuation [4] Industry Insights - The animal health performance is expected to exceed expectations for 2025, driven by strong demand, price increases, and healthy growth across medicated feed additives, nutritional specialties, and vaccines for 2026 [2] - While growth in livestock is slower than in companion animals, the livestock sector maintains strong fundamentals, including population growth, rising meat consumption, and limited impact from economic shifts [3]

The United States is a powerhouse of agriculture and livestock production as an exporter of major animal feed inputs like corn and soybean meal. But there's a critical feed component often overlooked, micro ingredients. While domestically produced field crops form the bulk of animal feed, imported micro ingredients including amino acids dlionine and llysine as well as vitamins like A, E, and B are crucial for muscle growth and organ function.Global feed market intelligence and pricing provider Chemax estima ...

Group 1 - Houston American Energy Corp. appointed Matthew T. Henninger to its Board of Directors following a strategic share exchange with Abundia Global Impact Group, effective July 1, 2025 [1][2] - Mr. Henninger brings over 35 years of experience in investment banking, operational management, and business advisory, currently serving as Managing Partner at BRM Holdings and CEO of Exotropin [2] - The company focuses on converting waste materials into low-carbon fuels and chemicals, addressing the global plastic waste crisis through proprietary pyrolysis technology [4] Group 2 - The appointment of Mr. Henninger is seen as pivotal for the company's new direction, which aims to create economic value while tackling global challenges [3] - Following the appointment, Stephen P. Hartzell resigned from the Board, leaving a total of five directors, including three independent members [3]