Financial Performance - Ending AUM reached a record $2 trillion[9], with long-term AUM growing by 16% year-over-year[22] - Net long-term inflows were $156 billion, representing an annualized organic growth of 47%[9, 22] - Net revenues increased by 17% year-over-year, while expenses increased by 13%[22] - Adjusted operating margin improved by 30 basis points compared to the second quarter of 2024[22] - Share buybacks of $25 million, representing 17 million shares, were executed[22] Asset Flows and AUM Composition - ETFs and Index strategies saw net inflows of $126 billion[9] - Fundamental Fixed Income experienced net inflows of $28 billion, including over $4 billion from The Peoples Pension fund in the UK[9] - Fundamental Equities had net outflows of $36 billion, with positive flows from Global/Regional equities offset by outflows in emerging markets ($23 billion) and global equities ($22 billion)[9] - Private Markets experienced net outflows of $23 billion, offset by positive flows in real estate and CLOs[9] Geographic and Channel Performance - Americas accounted for 70% of total firm AUM[11] - Asia Pacific accounted for 15% of total firm AUM[11] - EMEA accounted for 15% of total firm AUM[11] - Retail channel represented 68% of total firm AUM, while the Institutional channel represented 32%[11]

Financial Performance - The company experienced strong growth in Q2 2025, with adjusted diluted EPS up by 201%[7] - Adjusted operating income increased by 161%[7] and net revenues grew by 68%[7] - For H1 2025, adjusted diluted EPS increased by 161%[8], adjusted operating income by 145%[8], and net revenues by 65%[8] - The company is raising its 2025 forecast to 13-15% adjusted diluted EPS growth[6] Smoke-Free Products (SFP) - Smoke-free products are driving total volume growth[10], with H1 2025 shipment volume increasing by 131%[10] - Smoke-free net revenues and gross profit showed organic growth of 270%[11] and 154%[11] respectively in H1 2025 - The company's multicategory strategy is catalyzing SFP user growth to over 41 million[17] - IQOS quarterly net revenues are over $3 billion[19] ZYN (Nicotine Pouches) - ZYN nicotine pouch shipment volumes increased by 43%[22] in Q2 2025 compared to the previous year - U S ZYN volumes increased by 41%[22] and international volumes excluding Nordics increased by 179%[22] - The company expects strong H2 offtake growth for ZYN as retail availability normalizes[31] Regional Performance - Europe experienced a 135%[25] growth in IQOS, ZYN & VEEV shipment in Q2 2025 - In Japan, the company's HTU adjusted IMS grew by 78%[26] in Q2 2025, with a 48%[26] HnB offtake category share - The company is seeing excellent IQOS key city progress across global markets[34]

Q2 2025 Consolidated Gross Margin Analysis - The company's Q2 2025 reported gross margin (GAAP) was 62.4% compared to 61.07% in Q2 2024, representing an increase of 133 basis points[16] - The underlying gross margin expanded by approximately 160 basis points, driven by organic revenue growth, partially offset by higher commodity costs[5, 16] - Items impacting comparability primarily relate to economic hedging activities[5] - A structural tailwind of approximately 40 basis points was due to the impact from refranchising bottling operations in certain territories in India[4, 5] YTD 2025 Consolidated Gross Margin Analysis - The company's YTD 2025 reported gross margin (GAAP) was 62.49% compared to 61.77% in YTD 2024, representing an increase of 72 basis points[17] - The underlying gross margin expanded by approximately 120 basis points, driven by organic revenue growth, partially offset by higher commodity costs[7, 8] - The structural tailwind was due to the impact from refranchising bottling operations mainly in the Philippines and certain territories in India[8] Q2 2025 Consolidated Operating Margin Analysis - The company's Q2 2025 reported operating margin (GAAP) was 34.15% compared to 21.29% in Q2 2024, representing an increase of 1286 basis points[18] - The underlying operating margin expanded by approximately 320 basis points, primarily driven by organic revenue growth, the timing of marketing investments, and effective cost management[10, 11] - Items impacting comparability primarily relate to the remeasurement of the fairlife contingent consideration liability in the prior year, asset impairments, restructuring initiatives, and economic hedging activities[11] YTD 2025 Consolidated Operating Margin Analysis - The company's YTD 2025 reported operating margin (GAAP) was 33.55% compared to 20.17% in YTD 2024, representing an increase of 1338 basis points[19] - The underlying operating margin expanded by approximately 270 basis points, primarily driven by organic revenue growth, effective cost management, and the timing of marketing investments[13, 14] - The structural tailwind was due to the impact from refranchising bottling operations mainly in the Philippines and certain territories in India[14]

Financial Performance - Global sales increased by 3.4% to $6.2 billion[11] - Gross margin improved by 110 bps to 37.7%[11] - Adjusted diluted EPS decreased by 13.9% to $2.10[11] - Adjusted EBITDA decreased by 3.8% to $547 million[11] - The company has ample liquidity with $1.5 billion[11] Segment Performance - Industrial global sales increased by 0.7% to $2.3 billion, with global comps decreasing by 0.1%[13] - Industrial segment EBITDA increased by 1.1% to $288 million, with segment EBITDA margin improving by 10 bps to 12.8%[13] - Automotive global sales increased by 5.0% to $3.9 billion, with global comps increasing by 0.4%[16] - Automotive segment EBITDA decreased by 6.9% to $338 million, with segment EBITDA margin decreasing by 110 bps to 8.6%[16] Outlook - Revised 2025 total sales growth outlook to 1% to 3%[33] - Revised 2025 adjusted diluted EPS outlook to $7.50 to $8.00[33] - Revised 2025 cash from operations outlook to $1.1 billion to $1.3 billion[33] - Revised 2025 free cash flow outlook to $700 million to $900 million[33]

Earnings conference call 2 nd quarter 2025 July 22, 2025 © 2025 RTX Corporation. All rights reserved. Forward looking statements Note: This press release contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. From time to time, oral or written forward-looking statements may also be included in other information released to the public. These forward-looking statements are intended to provide RTX Corpor ...

Financial Performance & Shareholder Returns - D R Horton's return on equity was 16 1% for the trailing twelve months ended June 30, 2025[5,82] - The company returned $4 6 billion to shareholders through repurchases and dividends[5] - D R Horton expects to repurchase $4 2 billion to $4 4 billion of common stock in fiscal year 2025[36,46] - D R Horton expects to payout approximately $500 million in dividends in fiscal year 2025[36,46] Market Position & Operations - D R Horton is the largest homebuilder in America for 23 years[5] - D R Horton operates in 126 markets across 36 states[4] - 89% of D R Horton's revenue comes from homebuilding[7] - 71% of homes closed were priced below $400k[23] - D R Horton's average sales price was 28% below the national average for the quarter ended 6/30/25[30] Q3 2025 Results & FY 2025 Expectations - D R Horton's Q3 2025 earnings per diluted share were $3 36 on net income of $1 0 billion[82] - D R Horton's Q3 2025 home sales revenues were $8 6 billion on 23,160 homes closed[82,83] - D R Horton expects consolidated revenues in the range of $33 7 billion to $34 2 billion for FY 2025[36]

2Q25 Earnings Review July 22, 2025 Forward-looking Statements This presentation contains certain forward-looking information, including third quarter and full year 2025 guidance as well as our LT Financial Framework, to help you understand Equifax and its business environment. All statements that address operating performance and events or developments that we expect or anticipate will occur in the future, including statements relating to our future operating results, improvements in our IT and data securit ...

Financial Performance - GM's Q2 2025 EBIT-adjusted was $30 billion[9, 47], with an EBIT-adjusted margin of 64%[47] - Adjusted automotive free cash flow was $28 billion[9, 47] - EPS-diluted-adjusted was $253[9, 47] - The company completed a $2 billion accelerated share repurchase program, retiring approximately 10 million shares during the quarter and approximately 43 million in total over the program[10] Sales and Market Share - GM's Q2 2025 U S market share increased by 07 percentage points year-over-year to 174%[9] - GM's overall sales were up 20% year-over-year in China, with NEV sales up 50%[10] - Q2 deliveries were 747k and H1 deliveries were 1440k[18] Electric Vehicles - GM maintained the 2 spot in EV sales in the U S with higher year-over-year sales and market share[9] - Chevrolet is now the 2 selling U S EV brand, and Cadillac is the 1 selling Luxury EV brand in the U S[9] - Q2 EV sales were up 111% year-over-year, representing 16% of the U S EV market[19] Investments and Capital Allocation - GM announced nearly $5 billion of investment in key U S manufacturing facilities[9] - The company is investing ~$900 million towards next-gen V8 engine production in Tonawanda, NY[24] - CY25 capital spend is projected to be $10–11 billion, including newly announced investments, with CY26-27 spend expected in the $10–12 billion range[9] Guidance and Tariffs - The company reaffirmed its 2025 guidance for EBIT-adjusted of $100–125 billion, EPS-diluted-adjusted of $825–1000, and adjusted automotive free cash flow of $75–100 billion[33, 34, 35] - The calendar year 2025 gross tariff impact is unchanged at $4–5 billion, with the company aiming to mitigate at least 30% of this impact[42]

Financial Performance - The company's market capitalization is $96 billion[5] - Total dividends paid since IPO reached $147 billion[5] - The dividend yield is 157%[5] - Tangible net book value per share was $781[9] - Comprehensive loss per share was $(013)[9] - Net spread and dollar roll income per share was $038[9] Portfolio Composition - As of June 30, 2025, the investment portfolio totaled $82242 billion[30] - 30-Year MBS accounted for 86% of the investment securities, with a fair market value of $70544 billion[30] - Fixed Rate Agency MBS and TBA securities had a weighted average coupon of 513%[32] Funding and Hedging - Average repo cost for Q2 2025 was 444%[33] - The hedge portfolio totaled $65694 billion, covering 89% of funding liabilities[37,39]

SECOND QUARTER 2025 EARNINGS CONFERENCE CALL Interpublic Group July 22, 2025 Overview — Second Quarter 2025 (1) Pre-tax restructuring charges of $118.0 million and deal costs in SG&A of $10.9 million. Organic change of Net Revenue, adjusted EBITA before restructuring charges and deal costs and adjusted diluted EPS are non-GAAP measures. Management believes these metrics provide useful supplemental data that, while not a substitute for GAAP measures, allow for greater transparency in the review of our financ ...