Financial Highlights - Adjusted total revenue reached $17.0 million, a 2% year-over-year increase[8] - Wealth revenue grew significantly by 27% year-over-year, reaching $3.6 million[8] - Assets Under Management (AUM) increased by 22% year-over-year, totaling $498 million[10] - Payments volume grew by 12% year-over-year, reaching $2.8 billion[11] Financial Performance - Adjusted EBITDA was $2.0 million for Q3 2025[40] - Adjusted net loss improved from $(6.3) million in Q3 2024 to $(3.4) million in Q3 2025[41] Balance Sheet - Cash and investments totaled $46 million[10] - The company's book value per share is $3.24, while the share price is $2.11[43] Future Outlook - Subscription & services revenue is expected to grow at a mid-to-high single-digit rate[48] - Wealth revenue is projected to increase by 20-25% in 2025[48] - Payments business is projected to grow in the mid- to-high teens percentages[48]

Financial Performance - Revenue for Q2 FY26 increased by $12.5 million, a 23% increase compared to the prior-year period[23] - Q2 FY26 gross profit increased by $1.5 million, a 12% increase[29] - The gross margin decreased by 220 bps to 21.7%[29] - Q2 FY26 GAAP Net Income was $3.1 million[11] - Adjusted EBITDA for Q2 FY26 was $6.3 million, a 12% increase[11] - The company expects net sales between $225 million and $235 million for FY26[47] Orders and Backlog - Q2 FY26 orders totaled $83.2 million[11] - The book-to-bill ratio for Q2 FY26 was 1.3x[11] - Record backlog reached $500.1 million[11] - Defense accounted for 85% of the backlog, Energy & Process 10%, and Space 5%[42] Strategic Investments and Acquisition - A new Navy Facility in Batavia, NY was completed in Q2 FY26, backed by a $13.5 million customer grant as part of a $17.6 million expansion[13] - Graham Corporation acquired Xdot Bearing Technologies for $1.5 million, including earn-outs[19]

Financial Performance - The company reported an Adjusted EBITDA of $19.5 million for the third quarter of 2025, while RNG production reached 1.3 million MMBtu[13] - Third quarter 2025 RNG production increased by 30% compared to the third quarter of 2024[14] - The company's liquidity as of September 30, 2025, was $183.8 million, including $138.4 million of unused capacity under a senior secured credit facility, $15.5 million of unused capacity under the associated revolver, and $29.9 million in cash and cash equivalents[19] - Full year 2025 Adjusted EBITDA is projected to range between $90 million and $110 million[55] Factors Affecting Performance - Third quarter 2025 Adjusted EBITDA was 37% lower compared to the third quarter of 2024, primarily due to lower RIN prices and the expiration of the ISSC pathway[14] - Fuel Station Services (FSS) Adjusted EBITDA was 4% lower compared to the third quarter of 2024 due to lower RIN prices[14] - The company anticipates putting approximately 2.0 million annual MMBtu of RNG annual design capacity into construction in 2025[55] Business Segments - The company currently has 12 operating RNG assets with a design capacity of 9.1 million RNG MMBtu annually[35] - Fuel Station Services (FSS) segment revenue increased from $50 million in 2021 to $167 million in 2024[45] - The company projects 30%-50% Adjusted EBITDA growth from the Fuel Station Services segment in 2025 compared to 2024[55]

Financial Performance & Guidance - Gray Media's 3Q25 total revenue reached $749 million, hitting the high-end of guidance[12] - Core advertising revenue for 3Q25 also reached the high-end of guidance at $346 million[12] - Retransmission revenue for 3Q25 exceeded guidance at $355 million[12] - Corporate expense for 3Q25 was below the low-end of guidance at $22 million[12] - Broadcasting expense for 3Q25 was below the low-end of guidance at $542 million[12] - Production companies expense for 3Q25 was below the low-end of guidance at $28 million[12] - For the nine months ending September 30, 2025, total revenue was $2303 million, compared to $2599 million for the same period in 2024[15] - Adjusted EBITDA for the nine months ending September 30, 2025, was $491 million, compared to $760 million for the same period in 2024[15] Debt & Leverage - As of September 30, 2025, Gray Media's secured leverage ratio was 366x[16] - As of September 30, 2025, the first lien leverage ratio was 272x[16] - As of September 30, 2025, the leverage ratio was 577x[16]

Financial Performance - Q3 2025 sales were $485.3 million, a decrease of 12.4% compared to $554.3 million in Q3 2024[17, 85] - Adjusted EBITDA for Q3 2025 was $70.9 million, a decrease of 8.4% compared to $77.4 million in Q3 2024[20, 85] - The company generated approximately $50 million in cash flow during Q3 2025[9] - The company deployed $50 million to dividends, share buybacks, and debt reduction[9] Segment Performance - Railroad and Utility Products and Services (RUPS) sales decreased by 6.2%, from $248 million in Q3 2024 to $233 million in Q3 2025[17] - Performance Chemicals (PC) sales decreased by 18.3%, from $177 million in Q3 2024 to $144 million in Q3 2025[17] - Carbon Materials and Chemicals (CMC) sales decreased by 16.4%, from $130 million in Q3 2024 to $108 million in Q3 2025[17] Business Optimization and Market Dynamics - Year-to-date adjusted SG&A expenses decreased by 14% compared to the prior year[9] - The company reduced headcount for five consecutive quarters, with full-time employees (FTEs) 17% lower compared to April 2024[9] - Most end markets remain soft, with PC volumes down 5% in residential (excluding market share loss) and up 2.5% in industrial, Class I demand down 3% year-to-date, and CMC markets at a trough[9] - UIP volumes for Q3 2025 increased by 6.5% compared to the prior year[9] 2025 Guidance - The company forecasts sales of approximately $1.9 billion for 2025[70, 71] - Adjusted EBITDA is forecasted to be between $255 million and $260 million for 2025[72] - Adjusted EPS is forecasted to be between $4.00 and $4.15 for 2025[75]

Financial Performance - Revenue reached $476 million in Q3 2025[7] - Net earnings totaled $367 million[7] - Adjusted net earnings amounted to $281 million[7] - Operating cash flow was $383 million[7] - Gross margin for Q3 2025 increased by 70% compared to Q3 2024[24] - Net earnings increased by 138% from $155 million in Q3 2024 to $367 million in Q3 2025[25] - Adjusted net earnings increased by 84% from $153 million in Q3 2024 to $281 million in Q3 2025[25] - Operating cash flow increased by 51% from $254 million in Q3 2024 to $383 million in Q3 2025[25] Operational Highlights - Salobo produced 67,000 ounces of attributable gold, a 7% increase relative to Q3 2024[13] - Peñasquito produced 2.1 million ounces of attributable silver, a 17% increase relative to Q3 2024[13] Corporate Development - Declared a quarterly dividend of $0.165 per common share, a 6.5% increase relative to the fourth quarterly dividend of 2024[9]

Q3 2025 Performance - Q3 2025 net production reached 20,789 Boe/d, with 64% oil and 84% liquids[7] - The company sold 13,332 barrels of oil per day[15] - Lifting costs were reduced to $10.73 per Boe, a 2% improvement compared to guidance[15] - Capital expenditures totaled $24.6 million[16] - Adjusted Free Cash Flow was $13.9 million, marking the 24th consecutive quarter of positive cash flow[17] - Debt was reduced by $20 million, exceeding guidance by $2 million, increasing liquidity to $157.3 million[17] Financial Highlights - Q3 2025 realized price was $41.10 per Boe[19] - Adjusted EBITDA for Q3 2025 was $47.7 million[19] - All-in cash operating costs were $22.35 per Boe in Q3 2025[19] - The company's leverage ratio was 2.10x in Q3 2025[19] - 2024 SEC Proved Reserves are 134 MMBoe with PV10 ~$1.5 Billion[7] Acquisitions and Strategy - The Lime Rock Acquisition added ~12 MMBoe with PV10 ~$160 million[7] - The Lime Rock Acquisition added ~18,000 net acres and ~40 locations[7] - The company operates ~96% of its working interest[7] - The company's net revenue interest is ~79% for oil and ~82% for gas[7]

Financial Performance - TELUS reported Q3 2025 operating revenues of $5.1 billion[41] - Adjusted EBITDA reached $1.9 billion, a 1% year-over-year increase[41] - Free cash flow increased by 8% year-over-year to $611 million[41] - Capital expenditures (excluding real estate) decreased by 4% year-over-year to $616 million[41] - The company is targeting a net debt to EBITDA ratio of approximately 3.0x by 2027[10] Customer Growth and Loyalty - Total customer additions were strong at 288,000[10] - Industry-best postpaid mobile phone churn of 0.91%[10] - Internet net additions were +40,000[15] TELUS Health and Digital - TELUS Health revenue grew by 18% year-over-year to $517 million[35] - TELUS Health Adjusted EBITDA increased by 24% year-over-year to $91 million[35] - TELUS Health covers more than 160 million lives globally[10] - TELUS Digital revenue grew by 5% year-over-year to $708 million[37] - TELUS Digital Adjusted EBITDA was $105 million[37] Strategic Initiatives - TELUS completed the privatization of TELUS Digital, expecting $150 million in annualized cash synergies by the end of 2026[18] - AI-enabling revenue is approaching $800 million for 2025 and is expected to reach approximately $2 billion by 2028, with a CAGR of over 30%[21]

Financial Performance & Guidance - The company raised its 2025 full-year earnings guidance for Core FFO from $6.75 to $6.81 per share[7] - The company's 2025 core FFO guidance excludes approximately $0.11 per share of non-core charges for legal costs and settlements and expensed transaction pursuit costs[33] - The midpoint of 2025 same property revenue growth guidance is 1%[34] - The company reported Core FFO per diluted share of $1.70 and Core AFFO per diluted share of $1.43 in 2Q25[158] Portfolio & Capital Recycling - The company disposed of four operating properties to-date in 2025 for a total of $174 million[7] - The company completed three acquisitions to-date in 2025 for a total of $338 million[7] - The company commenced construction on one new development community with a total expected cost of $184 million[7] - Since 2011, the company has completed $4.2 billion in developments and $3 billion in acquisitions, while disposing of $4 billion in assets[73] Capital Structure & Liquidity - The company established a $600 million commercial paper program to supplement its existing unsecured line of credit[7] - The company has approximately $0.7 billion available under its $1.2 billion unsecured credit facility and commercial paper program[27, 162] - The company's total market capitalization is $16 billion[22, 161]

Retail Banking Performance - PNC Retail Banking's YTD average deposits reached $243 billion, accounting for 56% of total PNC deposits[8] - YTD average loans amounted to $97 billion, representing 30% of total PNC loans[8] - LTM revenue totaled $15 billion, contributing 54% of business segment revenue[8] - Retail Banking Pretax, Pre-Provision Earnings (PPNR) increased significantly from $18 billion in YTD 2022 to $54 billion in YTD 2025[8, 30] Client Base Growth and Expansion - Consumer DDAs (demand deposit accounts) have grown from 93 million in 2022 to 97 million as of 9/30/2025, a 11% increase[14] - PNC is increasing new branch builds to >300 by 2030 to drive density[16] - PNC is expanding into new markets, with significant branch builds planned in Miami (+40), Atlanta (+25), and Charlotte (+25)[16] Digital and Customer Experience Investments - 77% of consumer DDA households are digitally active[18] - Branch Channel NPS (Net Promoter Score) has increased by 10 points from 71 in 2022 to 81 in YTD 2025[18] - New card suite, digital direct deposit, and new online banking were launched in 2025[18] Wealth Management and Credit Card Growth - Client assets in Wealth Management have grown from $44 billion in 2016 to $89 billion as of 9/30/2025, representing an 8% CAGR[20] - Wealth Management revenue has increased from $03 billion in 2016 to $08 billion in 2025 (annualized), representing a 10% CAGR[20]