Financial Performance - Third quarter 2025 earnings were $3.5 billion, or $1.82 per diluted share[13] - Adjusted earnings for the third quarter 2025 were $3.6 billion, or $1.85 per share[13] - Cash flow from operations excluding working capital was $9.9 billion[13] - The company returned $6 billion cash to shareholders through dividends of $3.4 billion and share repurchases of $2.6 billion[11,13] Production and Operations - Worldwide production exceeded 4 million barrels of oil equivalent per day (MMBOED)[11] - Total capital expenditure was $4.4 billion, all of which was organic capex[13] - Upstream earnings for 3Q25 were $3.302 billion, while Downstream earnings were $1.137 billion[42] Strategic Initiatives - Hess integration is on track[11] - First hydrogen production at ACES (Advanced Clean Energy and Storage hydrogen storage project in Delta, Utah)[11,80] Outlook - Fourth quarter 2025 upstream turnarounds and downtime are expected to impact production by approximately 125 thousand barrels of oil equivalent per day (MBOED)[37] - Downstream turnarounds and downtime are projected to reduce after-tax earnings by $400 million to $500 million[37] - Share repurchases are planned in the range of $2.5 billion to $3.0 billion for the fourth quarter of 2025[37]

Financial Performance - The company reported a net loss of $890 million, but a net income excluding identified items of $330 million[9] - Cash from operating activities was $983 million, with dividends of $443 million[9] - Non-cash asset write-downs totaled approximately $1.2 billion[10] - The company returned $443 million in dividends during 3Q25[26] Market Trends and Outlook - Mature markets are showing signs of recovery, with polyethylene demand in Europe up 3% year-to-date[13] - Capacity rationalization trends are accelerating, with expected ethylene capacity closures[19] - Announced and anticipated shutdowns represent approximately 10% of current global supply[22] - The company is targeting approximately 80% operating rates in 4Q25 for Olefins & Polyolefins – Americas[44] - The company is targeting approximately 60% operating rates in 4Q25 for Olefins & Polyolefins – Europe, Asia & International[47] - The company is targeting approximately 75% operating rates in 4Q25 for Intermediates & Derivatives[53] Cash Improvement Plan - The Cash Improvement Plan is on track to deliver the $600 million target of incremental cash flow during 2025[27]

Financial Performance - GAAP net income for Q3 2025 was $103 million, compared to $94 million in Q3 2024[16] - GAAP diluted earnings per share (EPS) for Q3 2025 were $0.94, up from $0.90 in Q3 2024[16] - Non-GAAP adjusted diluted EPS for Q3 2025 was $1.00[16] - The company reaffirms 2025 adjusted earnings guidance of $3.13 to $3.33 per diluted share[19] - The company updates 2025 load growth to 3.5% to 4.5%, weather adjusted, from 2.5% to 3.5%[15] Strategic Priorities and Investments - The company forecasts capital expenditures of $1.34 billion in 2025[23] - The company has total liquidity of $1.038 billion as of September 30, 2025, including $137 million in cash and $750 million in credit facilities[26] - The company expects to issue approximately $250 million in base equity in 2025[27] Forward-Looking Statements - The company anticipates long-term load growth of 3% through 2029[19] - The company projects long-term EPS growth of 5% to 7% using the midpoint of original 2024 adjusted earnings guidance of $3.08 per share[19] - The company aims for 5% to 7% long-term dividend growth[19]

Financial Performance & Guidance - Dominion Energy's Q3 2025 operating earnings per share was $1.06, which includes $0.03 of RNG 45Z income and $0.06 of unfavorable weather impact[8] - The company reaffirmed its 2025 operating earnings per share guidance at a midpoint of $3.40, with a narrowed range of $3.33 to $3.48[8] - Long-term operating EPS growth rate is projected at 5%-7% off 2025 operating EPS excluding RNG 45Z income ($3.30)[8] - The 2025 dividend is expected to be $2.67 per share[8] Capital Investment & Financing - The 2025-2029 capital investment plan is approximately $50 billion and will be updated on the Q4 call[8] - Dominion Energy expects $5.5-$8.0 billion in consolidated fixed income activities for 2025, with $8.7 billion already issued year-to-date[10] - The company has issued $1.0 billion of common equity through the At-the-Market (ATM) program in 2025 and $1.3 billion for 2026-2027[11] Coastal Virginia Offshore Wind (CVOW) Project - The CVOW project is approximately 66% complete and remains on schedule for first electricity delivery in Q1 2026 and full completion by the end of 2026[16, 17] - The current capital budget for CVOW is $11.2 billion, including $443 million of actual/estimated tariffs[22] - Project-to-date investment in CVOW as of September 30, 2025, is approximately $8.2 billion, with remaining project costs of approximately $3.0 billion[22] Data Center Growth - Data center contracted capacity has increased by approximately 7 GW or 17% since December 2024, reaching approximately 47.1 GW in September 2025[33]

Financial Performance - Adjusted EBITDA reached R$27 billion[12] - Net income grew to R$11 billion, a 26% increase compared to 2Q25[12] - Free cash flow was R$10 billion, primarily due to higher working capital release[12] - Dividends declared for Gerdau S A were approximately R$555 million (R$028/share) and for Metalúrgica S A were approximately R$188 million (R$019/share)[12] - Share buyback program executed 88%, with approximately R$902 million invested, representing 29% of outstanding shares[12] Operational Highlights - Steel shipments reached 30 million tonnes, with YoY growth, including a 10% increase in North America[5] - North America achieved its highest-ever share in consolidated EBITDA at 65%, compared to 61% in 2Q25[8] - The Miguel Burnier Mining project is 90% complete and in the pre-operational phase, with start-up expected in 4Q25[10] Market Dynamics - Steel import penetration in Brazil remains high at 25% for the first nine months of the year[6] - CAPEX guidance for 2026 is R$47 billion, a 22% decrease compared to the 2025 estimate[12]

Q3 2025 Performance - Sales increased by 6.1% to $4657 million compared to $4388 million in Q3 2024 [20] - Daily sales also increased by 6.1% to $728 million [20] - Diluted EPS increased by 3.4% to $1021 [20] - Operating margin decreased by 40 bps to 152% [20] Segment Performance - High-Touch Solutions N A sales increased by 34% to $3635 million [25] - Endless Assortment sales increased by 182% to $935 million [29] - Zoro U S daily sales grew by 178% [31] Guidance and Outlook - The company is narrowing its FY 2025 earnings outlook [16] - Full year sales guidance is $178 billion to $180 billion, representing a 39% to 47% increase [52] - The company anticipates annual Total Company GP% run-rate will stabilize at ~39% as tariff landscape normalizes [40, 47] - Adjusted EPS (diluted) is expected to be $3900 - $3975, a 01% to 20% increase [52]

Company Overview - Cenovus has approximately 1,766 million shares outstanding and a market capitalization of $41 billion[6] - The company's 2024 proved plus probable (2P) reserves are 8.5 BBOE[7] - The company returned $1.3 billion to shareholders through share buybacks and dividends in Q3 2025[12] - The company repurchased approximately 3% of shares outstanding in the first 9 months of 2025[17] Financial Performance - The company's trailing twelve months Adjusted Funds Flow (AFF) is $7.8 billion[8] - As of September 30, 2025, Cenovus's Net Debt is $5.3 billion and Long-Term Debt is $7.2 billion[8] - The company's annual dividend per share is $0.80, yielding 3.4%[8] - The company's Q3 2025 Adjusted Funds Flow was $2,466 million and Free Funds Flow was $1,312 million[10] Operational Highlights - Upstream production in Q3 2025 reached 833 MBOE/d[10] - Downstream throughput in Q3 2025 was 711 Mbbls/d[10] - The company is targeting production of approximately 950,000 BOE/d by 2028[19]

AUM and Net Flows - Record Global AUM of $1372 billion as of September 30, 2025, with US at $883 billion, Europe at $482 billion, and Digital at $06 billion[8, 10] - Net inflows of $22 billion in Q3 2025 and $88 billion YTD through September 30, 2025, representing an 11% annualized organic growth rate[9, 10] - Updated AUM as of October 29, 2025, is $1385 billion, up approximately 1% from September 30, 2025, driven by positive market movement and Ceres AUM, offset by net outflows[8, 10] Financial Performance - Q3 2025 adjusted revenues increased by 115% compared to Q2 2025, driven by higher average AUM and other revenues[14] - Q3 2025 adjusted revenues increased by 147% compared to Q3 2024, due to higher average AUM and other revenues, partially offset by a lower average advisory fee[14] - Q3 2025 adjusted EPS was $023, compared to $018 in Q2 2025[12] - Adjusted operating margin for Q3 2025 was 383%, compared to 325% in Q2 2025[12] Strategic Initiatives - Completed the acquisition of Ceres Partners, diversifying AUM into farmland and creating opportunities in solar, AI data infrastructure, and water[10] - The Ceres acquisition is expected to be accretive, expanding annualized revenue capture and operating margins by approximately 200 basis points[10] - WisdomTree Prime AUM is $52 million with 30205 opened accounts as of Q3 2025[39] - Total WisdomTree Tokenized AUM is $592 million, a 19x growth vs year-end 2024[39] Guidance and Outlook - Full-year 2025 compensation to revenue ratio is projected to be 28%-30%, with discretionary spending between $68 million and $72 million[15] - Q4 2025 gross margin is anticipated to be approximately 83%, inclusive of the Ceres acquisition impact, with a full-year gross margin trending toward approximately 82%[17] - The company is targeting a 35% to 40% expansion in Model Assets Under Advisement (AUA) and a 25% to 30% growth in Model Users in 2025[27, 29]

Financial Performance - Net loss attributable to stockholders for the three months ended September 30, 2025 was $16 million, compared to a net income of $54 million for the same period in 2024[14] - Net loss attributable to stockholders for the nine months ended September 30, 2025 was $78 million, compared to a net income of $146 million for the same period in 2024[14] - Adjusted EBITDA for the three months ended September 30, 2025 was $130 million, compared to $159 million for the same period in 2024[18] - Adjusted EBITDA for the nine months ended September 30, 2025 was $457 million, compared to $514 million for the same period in 2024[18] - Comparable Hotel Adjusted EBITDA for the three months ended September 30, 2025 was $141 million, a decrease of 159% compared to $167 million in 2024[20] - Comparable Hotel Adjusted EBITDA for the nine months ended September 30, 2025 was $483 million, a decrease of 94% compared to $533 million in 2024[20] - Comparable Hotel Revenues for the three months ended September 30, 2025 were $585 million, a decrease of 43% compared to $611 million in 2024[20] - Comparable Hotel Revenues for the nine months ended September 30, 2025 were $1828 million, a decrease of 18% compared to $1862 million in 2024[20] Capital Structure - As of September 30, 2025, total debt was $3839 million[13] - Net Debt as of September 30, 2025, was $3706 million[26] - The company has $1 billion of available capacity under the Revolver and $800 million of its 2025 Delayed Draw Term Loan available as of October 30, 2025[88] Outlook - The company expects a full-year 2025 net loss attributable to stockholders between $66 million and $41 million[31] - The company expects full-year 2025 Adjusted EBITDA between $595 million and $620 million[31]

Company Overview - Standard Motor Products' (SMP) 2024 revenue was $1.5 billion and adjusted EBITDA was $140 million[13] - The company's market capitalization is approximately $858 million as of October 29, 2025[13] - SMP has approximately 6,200 employees[13] Market Segment Performance (2024 Revenue) - North American Aftermarket accounted for 67% of the company's revenue[11, 30] - European Aftermarket accounted for 16% of the company's revenue[11, 33] - Engineered Solutions accounted for 17% of the company's revenue[11, 36] Nissens Acquisition Impact - The acquisition of Nissens significantly expands SMP's aftermarket business, with pro forma aftermarket revenue reaching $1.42 billion in 2024[20] - Nissens brings over 15,000 SKUs and a strong presence in the European market[19] - The company expects $8-12 million in cost synergies from the Nissens acquisition[24] Financial Performance & Capital Allocation - The company's capital expenditure for 2024 was $44 million, including $20.3 million for new distribution build-out[67, 66] - SMP spent $10.4 million in 2024 to repurchase 321,000 shares[72] - The company's net debt stood at $502.3 million as of September 30, 2025[83]