Financial Performance - The company's closing price increased from $70.00 in 2Q 2025 to $74.82 in 3Q 2025[8] - Market capitalization grew from $729.50 million in 2Q 2025 to $776.80 million in 3Q 2025[8] - Assets increased from $7.9 billion in 2Q 2025 to $8.2 billion in 3Q 2025[8] - Loans increased from $6.6 billion in 2Q 2025 to $6.8 billion in 3Q 2025[8] - Deposits increased from $6.8 billion in 2Q 2025 to $7.1 billion in 3Q 2025[8] - Net Interest Margin increased from 3.83% in 2Q 2025 to 3.88% in 3Q 2025[8] - The company's loans to deposits ratio was 95.9% in 3Q 2025, compared to 97.4% in 2Q 2025[8] Loan Portfolio - Total loans reached $6.8 billion as of September 30, 2025[30] - Commercial Real Estate (CRE) loans constitute 36% of the total loan portfolio[55] - Commercial & Industrial (C&I) loans represent 14% of the total loan portfolio[55] - The average yield on loans for 3Q 2025 was 7.32%[56]

Financial Performance - Total assets increased to $10,628.113 million as of September 30, 2025, from $10,493.010 million as of June 30, 2025[8] - Total deposits increased to $8,817.463 million as of September 30, 2025, from $8,673.614 million as of June 30, 2025[8] - Net interest margin (tax equivalent) was 4.20% for the third quarter of 2025, compared to 4.18% for the second quarter of 2025[8, 12, 20] - Net income for the third quarter of 2025 was $25.7 million, translating to an annualized return on average assets of 0.97%, an annualized return on average equity of 6.30%, and an annualized return on average tangible equity of 11.45%[20] - The total capital ratio (to risk-weighted assets) increased to 16.33% at September 30, 2025, from 15.98% at June 30, 2025[8, 12, 20] Balance Sheet Composition - Noninterest-bearing deposits constituted 36.4% of total deposits as of September 30, 2025[8, 12, 22, 24] - Total loans decreased to $7,167.857 million as of September 30, 2025, from $7,287.347 million as of June 30, 2025[8] - Loans to total deposits ratio was 81.29% as of September 30, 2025, compared to 84.02% as of June 30, 2025[8, 24] Market Position - Stellar Bancorp is ranked 6th in deposit market share for the Houston region[12] - Stellar has over $8.4 billion in deposits in the Houston region[14, 49] Asset Quality - Nonperforming loans to total loans were 0.65% at September 30, 2025, compared to 0.69% as of June 30, 2025[40] - Allowance for credit losses on loans to nonperforming loans was 170.65% at September 30, 2025, compared to 164.67% as of June 30, 2025[40]

Financial Performance - The company's net income for Q3 2025 was $106.1 million, or $0.53 per diluted share, which included a GAAP tax benefit[14] - Operating net income for Q3 2025 was $74.1 million, or $0.37 per diluted share, a 44% increase from Q3 2024[14, 17] - Wealth management assets under management (AUM) reached a record high of $9.2 billion at the end of Q3 2025[14, 41] - The company declared a dividend of $0.13 per share[13] Balance Sheet - Total assets were $25.5 billion[4] - Total deposits amounted to $21.1 billion[4] - Total loans reached $18.8 billion[4] - The tangible book value per share increased to $13.14, a 5% increase linked quarter and a 10% increase since year-end[14] Loan Portfolio - Total loans increased by $239 million, or 1.3%, linked quarter[59] - Commercial loans increased by $201 million, driven by CRE and C&I activity[62] - The company's commercial real estate (CRE) portfolio totaled $7.4 billion, representing 39% of total loans[89] Asset Quality - Non-performing loans (NPLs) were $69 million, or 0.37% of total loans, an increase of $14 million linked quarter[75, 82] - Commercial criticized and classified loans were $495 million, or 3.82%[81]

Portfolio Overview - The company has 128 properties with an enterprise value of $575 million [6] - The total portfolio square footage is 4.1 million [6] - The implied cap rate is 8.8% with 96% of the portfolio being retail net lease [6] - 48% of the Annualized Base Rent (ABR) comes from investment-grade rated tenants [6] - The annualized dividend yield is 8.0% [6] - The weighted average lease term is 8.7 years [6] Financial Highlights - The company's basis per square foot is $139, which is less than half of the peer average [15] - Year-to-date, the company repurchased 546,390 common shares for a net cost of $8.8 million [15] - The company's annualized base rent (ABR) is $46.3 million [53] Market Position and Strategy - The company's top tenant accounts for 12% of ABR [53] - 52% of ABR comes from MSAs with a population exceeding one million people [59] - The company has $358.5 million in total debt with a weighted-average interest rate of 4.50% [63]

Q1 FY 2026 Performance - Organic sales grew by 2% driven by pricing and mix[13] - Organic volume growth was flat at 0%[15] - Core earnings per share (EPS) increased by 3% to $1.99[14] - Currency-neutral core EPS also grew by 3%[14] - Adjusted free cash flow productivity was 102%[15] Segment Results - Beauty segment organic sales increased by 6% with volume up 4%[34] - Grooming segment organic sales grew by 3% with volume up 1%[37] - Health Care segment organic sales increased by 1% with volume down 2%[40] - Fabric & Home Care segment organic sales was flat at 0% with volume down 2%[43] - Baby, Feminine and Family Care segment organic sales and volume were flat at 0%[46] FY 2026 Guidance - Organic sales growth is projected to be between 0% and +4%[51] - Net sales growth is expected to be between +1% and +5%, including a 1% positive impact from foreign exchange and acquisitions/divestitures[51] - Core EPS growth is guided to be between +0% and +4%[53] - All-in EPS growth is projected to be between +3% and +9%[54] - The company anticipates ~$10 billion in dividends and ~$5 billion in direct share repurchases[57]

Financial Performance & Guidance - The company reported strong Q3 2025 financial results, with a net income available to common shareholders of $20.1 million[13] - Diluted earnings per common share increased by 16.5% from $0.85 in 2Q25 to $0.99 in 3Q25[14] - The company's full-year NIM is expected to be between 3.50% and 3.55%, and noninterest income is expected to exceed $42 million in 2025[9] - The efficiency ratio is expected to be below 59% for the year, and the effective tax rate is projected to be between 18% and 19%[9] - The company anticipates approximately 3% annual loan growth, driven by commercial loans[9] Balance Sheet & Portfolio - Total deposits were $5.36 billion, up 3.9% from the linked quarter and 1.0% from the previous year[14, 16] - Total loans reached $4.59 billion, a 1.2% increase during the quarter[14] - The securities portfolio stood at $1.01 billion as of 9/30/25[43] - Commercial loans totaled $2.99 billion with committed credit exposure of $3.97 billion at 9/30/25[23] Asset Quality - NCOs to average loans decreased to 18 bps, down from 36 bps in the linked quarter[14] - Allowance for credit losses to total loans was 1.03% at 9/30/25[74]

Financial Performance - Q3 2025 sales reached €12434 billion, a 7% increase at CER (constant exchange rates)[17, 51] - Dupixent sales exceeded €4 billion for the first time in a quarter, growing by 262%[17, 25] - Pharma launches contributed 15% of sales, totaling €1805 million, a 408% increase at CER[21, 22] - Vaccines sales decreased by 78% to €1525 billion, impacted by lower influenza sales[17, 30] - Business EPS increased by 132%, reflecting operating income growth and share buyback[56] Pipeline Highlights - Wayrilz was approved for ITP (Immune Thrombocytopenia) in the US[69, 70] - Amlitelimab met primary endpoints in the AD (Atopic Dermatitis) phase 3 study[69, 77] - Fluzone HD met the primary endpoint in the influenza 50 years+ phase 3 study[69] 2025 Outlook - The company anticipates a mid-teens percentage decline in Flu vaccines sales for full-year 2025[59] - The company expects divestments of other medicines to impact sales by approximately €200 million[59] - The company anticipates capital gains from divestments of approximately €500 million[60]

Financial Performance - Q2 FY26 - Revenue decreased by 8.1% to $2.9 billion, primarily due to a decrease in headcount and a slowed procurement environment[44] - Excluding the prior year change to the provision for claimed costs, revenue was down 4.7%[12, 13] - Adjusted EBITDA decreased by 11.0% to $324 million[12, 21] - Adjusted Diluted EPS decreased by 17.7% to $1.49[12, 21] - Free Cash Flow decreased by 29.8% to $395 million[12] Financial Position - Backlog increased by 3% year-over-year to $40 billion, a Q2 record[13] - Net Leverage Ratio is 2.5x[16, 35] Capital Deployment - $208 million was deployed in share repurchases in Q2 FY26[15] - The company increased repurchase authorization by $500 million[15] - A quarterly dividend of $0.55 per share was approved[15] - $3 million was deployed in strategic investment in Shift5 in Q2 FY26[15] FY26 Guidance Update - Revenue guidance updated to $11.3 - $11.5 billion, representing a growth of (4.0 - 6.0)%[17] - Adjusted EBITDA guidance updated to $1,190 - $1,220 million[17] - Adjusted Diluted EPS guidance updated to $5.45 - $5.65[17] - Free Cash Flow guidance updated to $850 - $950 million[17]

Financial Performance - EBIT pro forma reached €9.4 billion, including €6.6 billion from EBIT and €1.0 billion from income from investments[7] - Net profit amounted to €3.8 billion and CFFO (Cash Flow From Operations) reached €9.5 billion[7] - Organic capex was €5.9 billion, with leverage at 19% (proforma 12%)[7] - The company completed €0.84 billion of share buybacks by the end of Q3, representing approximately 3% of equity repurchased in 9M[18, 19] Production and Guidance - Full-year production guidance was raised to 1.71-1.72 Mboed (Million barrels of oil equivalent per day), with current production at approximately 1.8 Mboed[23, 25] - GGP (Global Gas & LNG Portfolio) pro-forma EBIT guidance was raised to >€1 billion[22, 36] - Group CFFO guidance was increased to €12 billion, with cash initiatives of €4 billion and net capex expected to be <€5 billion[22] Transition Business - Enilive's biorefining capacity is projected to exceed 3 MTPA by 2028[41] - Plenitude's renewables capacity increased by 55% year-over-year[25, 42] - Energy production from renewables increased by 35% year-over-year[42] Key Projects - The Agogo Integrated West Hub (Angola) project achieved first oil in August 2025, only 29 months from FID (Final Investment Decision)[44, 46] - Congo LNG project is expected to start up offshore operations by the end of 2025, with a total LNG production capacity of 3 Mtpa[49, 50] - Baleine field (Côte d'Ivoire) has resources in place of 2.5 Bbbl & 3.3 TCF, with a total production capacity of 150 Kbopd & 200 Mscfd across phases 1, 2 & 3[53]

Financial Performance & Forecast - The company reported a net loss of $36 million, but an adjusted net loss of $23 million for Q3 2025[31] - Diluted loss per common share was $(0.11), with an adjusted diluted loss of $(0.07)[31] - The forecast for 2025 includes a net interest income of $1.7 billion to $1.75 billion and an adjusted diluted EPS of ($0.41) to ($0.36)[33] - The company anticipates a return to profitability in the fourth quarter of 2025[30] Commercial Banking & Loan Portfolio - Commercial & Industrial (C&I) loans held for investment totaled $14.874 billion as of September 30, 2025, with a quarterly increase of $448 million, or 3.1%[10] - Specialized Industries & Corporate/Regional Commercial Banking saw a $1.108 billion increase, or 27.5% QoQ, reaching $5.142 billion[10] - Multi-family loans held-for-investment decreased by $1.5 billion, or 4.6% QoQ[9] - CRE (Commercial Real Estate) decreased by $0.5 billion, or 4.4% QoQ[9] Asset Quality & Capital - Net charge-offs decreased by $44 million, reducing the net charge-off ratio by 26 basis points to 0.46%[9] - The Common Equity Tier 1 (CET1) ratio stands at 12.45%[47] - Deposits decreased by $0.6 billion, or 0.9% quarter over quarter, primarily driven by a $2.0 billion decrease in brokered deposits[53]