Q2 2025 Performance Highlights - XPO's operating income reached $198 million, a 1% increase year-over-year[8,9] - The LTL adjusted operating ratio improved by 30 bps year-over-year to 82.9%[8,9] - LTL adjusted EBITDA increased by 1% year-over-year to $300 million[8,9] - LTL purchased transportation expense decreased by 53% year-over-year[8] - LTL linehaul miles outsourced to third-party carriers decreased by 910 bps year-over-year[8,43] - LTL yield, excluding fuel, increased by 6.1% year-over-year[8,39] Strategic Growth Plan & Targets - The company aims for a revenue CAGR of 6% to 8% and an adjusted EBITDA CAGR of 11% to 13% for LTL growth from 2021 to 2027[12,44] - The company is targeting an adjusted operating ratio improvement of at least 600 bps for LTL from 2021-2027[12] - The company plans to target capex of 8% to 12% of revenue on average through 2027[29] Industry Position - The North American LTL industry is a $53 billion industry, with the top 10 players holding over 75% market share[18] - The company's North American LTL segment has a 9% industry share, generating $4.9 billion in revenue in 2024[19] 2025 Outlook - The company anticipates total gross capex between $600 million and $700 million for the full year 2025[50] - The company expects interest expense between $220 million and $230 million for the full year 2025[50] - The company projects a diluted share count of 120 million for the full year 2025[50]

Second Quarter 2025 Earnings Presentation Enabling Technology. Growing Sustainably. Legal Notices SAFE HARBOR Please note that in this presentation, we may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of the Company. Such discussion and statements will often contain words such as "expect," "anticipate," " ...

Financial Highlights - S&P Global's revenue increased by 6% year-over-year[18], reaching $3755 million[42] - Subscription product revenue grew by 7% year-over-year[18] - Adjusted operating profit increased by 7% year-over-year[18], from $1749 million to $1823 million[44] - Adjusted diluted EPS increased by 10% year-over-year[18], reaching $4.43[45] - The company returned nearly $950 million to shareholders through dividends and share repurchases[18] Segment Performance - Market Intelligence revenue increased by 5%[42], totaling $1217 million[50], with organic constant currency revenue growth of 7%[51] - S&P Global Ratings revenue increased by 1%[42], reaching $1148 million[56], with transaction revenue decreasing by 4% year-over-year and non-transaction revenue increasing by 8% year-over-year[57] - Commodity Insights revenue increased by 8%[42], totaling $555 million[61], with organic constant currency revenue growth of 8%[62] - Mobility revenue increased by 10%[42], reaching $438 million[65], with organic constant currency revenue growth of 10%[66] - S&P Dow Jones Indices revenue increased by 15%[42], totaling $446 million[70], with organic constant currency revenue growth of 15%[71] Strategic Initiatives - Active users of Spark Assist have increased from approximately 30% to over 65%[33] - The number of internally published use cases, or "Sparks", has increased from 1300 to more than 3000[33] Market Conditions - Billed issuance decreased by 4%[24], from $1062 billion to $1017 billion[22]

Financial Performance - Total Q2 Net Product Revenues reached $672 million, a 64% increase year-over-year[17, 24] - Total TTR Net Revenues in Q2 were $544 million, representing a 77% year-over-year growth[17] - Rare Franchise Net Product Revenues in Q2 totaled $128 million, a 24% increase year-over-year[28] - Alnylam increased its 2025 Total Net Product Revenue Guidance to a range of $2650 million to $2800 million[17, 74] - The company's Q2 Non-GAAP Operating Income was $95 million[70] Commercial Highlights - U S ATTR-CM launch contributed approximately $150 million in revenue during Q2[33, 34] - There are approximately 1,400 ATTR-CM patients receiving AMVUTTRA as of June 30, 2025[17, 37, 45] - U S TTR franchise experienced 125% year-over-year growth in Q2[32] - GIVLAARI saw a 30% year-over-year growth, driven by an approximately 18% increase in global patients on therapy[29] - OXLUMO experienced a 15% year-over-year growth, driven by an approximately 16% increase in global patients on therapy[29] Pipeline Development - The TRITON-CM Phase 3 study for nucresiran in ATTR-CM has been initiated, with a targeted launch around 2030[17, 60] - Phase 1 multidose results for mivelsiran in Alzheimer's Disease were announced[17] - A Phase 1 study for ALN-4324 in Type 2 Diabetes was initiated[17]

Q2 2025 Performance - New Enrollments increased by 42% in Q2 2025 as reported[27] - Total Enrollment increased by 6% in Q2 2025 as reported, reaching 472,000[27] - Revenue increased by 5% to $524 million in Q2 2025 as reported[27] - Adjusted EBITDA increased by 15% to $214 million in Q2 2025 as reported[27] - Adjusted EBITDA margin increased by 348 bps to 409% in Q2 2025 as reported[27] - Year-to-date New Enrollments increased 7% and Total Enrollments increased 6%[18] H1 2025 Performance - Revenue was $760 million, a decrease of 2% as reported, but an increase of 6% organically[30] - Adjusted EBITDA was $220 million, an increase of 1% as reported, but an increase of 9% organically[30] - Adjusted EBITDA margin was 289%, an increase of 83 bps as reported[30] Capitalization and Share Count - Cash & Cash Equivalents totaled $135 million as of June 30, 2025[43] - Net Cash was $19 million as of June 30, 2025[43] - $71 million of shares were repurchased in H1 2025[43] 2025 Outlook - Revenue growth is expected at 3%-4% on a USD reported basis, and 6%-7% on an organic constant currency basis[50] - Adjusted EBITDA growth is expected at 9%-10% on a USD reported basis, and 11%-13% on an organic constant currency basis[50] - The company increased full-year 2025 guidance by $55 million for Revenue and $16 million for Adjusted EBITDA due to strengthening of MXN and PEN currencies[18]

1 Disclaimer and Notes In General. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the "Presentation." Gannett Co., Inc. is referred to in this Presentation as "Gannett," "we," "us," "our" or the "Company". Cautionary Statement Regarding Forward-Looking Statements. Certain items in this Presentation may constitute forward-looking statements within the mean ...

Q2 2025 | Earnings Results July 31, 2025 Safe Harbor and Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws. These statements include, but are not limited to statements regarding Vontier Corporation's (the "Company's") business and acquisition opportunities, anticipated sales growth, anticipated adjusted operating margin expansion, anticipated adjusted net earnings per share, anticipated adjusted cash flow conversion, and antici ...

Q2 2025 Performance - Adjusted Net Sales reached $801.4 million, exceeding the upper end of guidance[7, 8] - Adjusted EBITDA was $73.3 million, also surpassing the upper end of guidance[7, 8] - Adjusted EBITDA margin increased by 20 bps to 9.1%[38] - Adjusted Net Sales increased 1.4% year-over-year[38, 40] Full Year 2025 Outlook - The company anticipates Adjusted EBITDA in the range of $345 million to $375 million[7] - Free Cash Flow is expected to be at least $130 million[7] - Adjusted Net Sales growth is projected to be between -0.5% and 1.0%, equating to $3.360 to $3.415 billion[7, 48] Sales Drivers - Volume/mix had a negative impact of (6.2)%, influenced by margin management and the griddle recall[40] - The Harris Tea acquisition contributed positively with 4.5%[40] - Pricing adjustments resulted in a benefit of 4.2%[40] Capital Allocation - Capital expenditures are planned at approximately $125 million to enhance capabilities in growing categories[44, 48]

Q2 2025 Performance - Net revenues reached $199 billion, a 150% increase compared to Q2 2024, with 83% organic growth[16, 20] - Adjusted EBITDA was $272 million, up 177% from Q2 2024, with adjusted EBITDA margin increasing by 30 basis points to 137%[16, 20] - Adjusted diluted earnings per share increased by 182% to $039 compared to Q2 2024[16, 20] - Year-to-date adjusted free cash flow was $186 million, a 388% increase year-over-year, representing 400% conversion[16] Segment Performance - Safety Services net revenues were $1362 billion, a 158% increase compared to Q2 2024, with 56% organic growth[22] - Specialty Services net revenues were $629 million, a 133% increase compared to Q2 2024, with 133% organic growth[22] - Safety Services adjusted gross profit was $506 million, a 179% increase, with adjusted gross margin at 372%[22] - Specialty Services adjusted gross profit was $114 million, a (50)% decrease, with adjusted gross margin at 181%[22] Guidance and Capitalization - The company projects net revenues of $7650 to $7850 million and adjusted EBITDA of $1005 to $1045 million for FY 2025[25, 26] - Q3 2025 net revenues are expected to be $1985 to $2035 million, with organic growth of 5%-7% and adjusted EBITDA of $270 to $280 million[26]

EARNINGS RESULTS July 2025 2 nd QUARTER 2025 Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements Our commentary and responses to your questions may contain forward-looking statements, including our outlook for the third quarter of 2025 and beyond. Forward-looking statements include projections of sales, earnings, general economic conditions, market conditions, working capital, market shares, free cash flow, pricing levels, and effective tax rates. Belden disclaims any oblig ...