Financial Performance - Petco's Q3 2025 operating income increased by approximately $25 million [10] - Adjusted EBITDA for Q3 2025 increased by roughly $17 million [10] - Free cash flow generated in Q3 2025 was approximately $61 million [10] - Net debt decreased by 8% year-over-year, from $1.47 billion to $1.36 billion [28] - Liquidity increased by 14% year-over-year, from $644 million to $733 million [28] Sales and Revenue - Net sales for Q3 2025 were $1.464 billion, a decrease of 3% compared to $1.511 billion in Q3 2024 [22, 43] - Consumables net sales were $731.456 million, a decrease of 3% compared to $753.230 million in Q3 2024 [43] - Supplies and companion animals net sales were $478.145 million, a decrease of 6% compared to $509.964 million in Q3 2024 [43] - Services and other net sales were $254.810 million, an increase of 3% compared to $248.243 million in Q3 2024 [43] Outlook and Guidance - The company expects net sales to be down low single digits year-over-year for Q4 2025 [31] - Adjusted EBITDA is projected to be between $93 million and $95 million for Q4 2025 [31] - Full year 2025 net sales are expected to be down 2.5% - 2.8% [31] - Full year 2025 Adjusted EBITDA is projected to be between $395 million and $397 million [31]

Investor Presentation Q3 FY26 This presentation may contain forward-looking statements for which there are risks, uncertainties, and assumptions. Forward-looking statements may include any statements regarding strategies or plans for future operations; any statements concerning new features, enhancements or upgrades to our existing applications or plans for future applications; any projections of revenues, gross margins, earnings, or other financial items; and any statements of expectation or belief. Forwar ...

FISCAL YEAR 2025 EARNINGS CALL FISCAL YEAR 2025 EARNINGS CALL SAFE HARBOR STATEMENT This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this presentation, forward-looking statements include, but may not be limited to, statements regarding the Company's evolving business strategy to expand into the market for high-performing computing ("HPC") and artificial intelligence ("AI") and other statements regarding the Company's expecta ...

Q3 FY26 Performance Highlights - Dell Technologies achieved a record Q3 revenue of $2701 billion, up 11% year-over-year, driven by AI server shipments[10, 11] - The company's diluted EPS reached $228, a 39% year-over-year increase, with a record Q3 non-GAAP diluted EPS of $259, up 17% year-over-year[10, 11] - Dell Technologies generated $12 billion in cash flow from operations in Q3, bringing the year-to-date total to $65 billion[10] - The company returned $16 billion of capital to shareholders in Q3, resulting in $53 billion returned year-to-date[10] Infrastructure Solutions Group (ISG) Performance - ISG revenue reached $1411 billion, a 24% year-over-year increase, with servers and networking revenue up 37% to $1013 billion[11] - Storage revenue for ISG was $398 billion, a decrease of 1% year-over-year[11] - ISG operating income improved sequentially to 124%, driven by AI server and storage performance[10] AI Server Business - Dell Technologies booked $30 billion in AI-optimized server orders year-to-date and expects to ship $25 billion in FY26[12] - AI shipments reached $56 billion in Q3, leading to $156 billion of shipments year-to-date, with an AI backlog of $184 billion exiting Q3[10] - The company expects to ship roughly $94 billion of AI servers in Q4, bringing FY26 shipments to roughly $25 billion, a 150% year-over-year increase[10] Client Solutions Group (CSG) Performance - CSG revenue was $1248 billion, a 3% year-over-year increase, with commercial revenue up 5% to $1062 billion[11] - Consumer revenue for CSG was $186 billion, a decrease of 7% year-over-year[11] FY26 Guidance - Dell Technologies projects FY26 revenue of $1117 billion ± $05 billion, up approximately 17% year-over-year, and non-GAAP diluted EPS of $992 ± $010, up approximately 22% year-over-year[15]

Financial Performance - Revenues reached $44.5 million in Q3 2025, a 10% increase compared to $40.4 million in Q3 2024 [5, 14] - Adjusted net income was $14.4 million in Q3 2025, slightly up from $14.2 million in Q3 2024 [5] - The company eliminated bank debt by repaying $86 million during 2025 and approximately $350 million in the last 3 years [5, 18] - Share repurchases totaled $1.8 million this year, bringing the total to $21.2 million since 2023 [5] Fleet and Operations - Over 57% of fleet days one year forward are fixed, with contracted revenues exceeding $130 million for all subsequent periods, excluding the JV vessel [5] - The company sold two small LPG carriers in 2025 and purchased the remaining 50% share in two small LPG carriers from its joint venture partner [5] - Increased period coverage for 2026 to 46% and secured over $77 million in revenues for next year [9] Market Trends - Global LPG exports continue to grow steadily, with a 5% increase in 9M 2025 [26] - US exports experienced strong growth of 6% year-over-year in 9M 2025 [26] - Approximately 30% of the small LPG fleet is over 20 years of age, indicating an aging fleet [30] Future Considerations - The company has significant operating leverage due to its sizeable fleet and reduced exposure to the spot market, providing high earnings visibility [34] - The company maintains a healthy capital structure with zero debt and high liquidity [34]

Financial Performance - StoneX's Q4 2025 operating revenues increased by 31% to $1,202.3 million[11] - Net income for Q4 2025 rose by 12% to $85.7 million[11] - Full fiscal year 2025 operating revenues grew by 20% to $4,126.9 million[11] - Full fiscal year 2025 net income increased by 17% to $305.9 million[11] - Book value per share increased by 27% to $45.56[14] Acquisitions and Integration - RJO/Benchmark acquisitions added $32.4 million to total fixed compensation and other expenses[14] - Net operating revenue from RJO was $69.6 million, and from Benchmark was $11.0 million[14] - Pre-tax income from RJO was $22.1 million, and from Benchmark was $2.4 million[14] - RJO held $6.3 billion in client segregated/secured assets[43] Client Balances - Q4 2025 average client equity plus MMF/FDIC sweep was approximately $12.6 billion, a 65% increase compared to Q4 2024[14]

Q3 2025 Performance - Net sales decreased by (2.8%) compared to Q3 2024[53] - Comparable sales decreased by (1.7%)[53] - Gross margin increased by 51 bps compared to Q3 2024, reaching 39.6%[53, 57] - SG&A expense decreased by (2.1%) compared to Q3 2024[53] - Adjusted operating income was $77 million[53] - Adjusted net income was $11 million, or $0.10 of adjusted earnings per diluted share[53] Balance Sheet and Leverage - Net debt + leases to adjusted EBITDAR leverage ratio is 2.6x when adjusting for actual lease periods exercised, compared to an unadjusted ratio of 4.5x[62, 64] 2025 Outlook - Net sales are expected to decline by (3.5%) to (4%) compared to 2024[81] - Comparable sales are expected to decline by (2.5%) to (3%)[81] - Adjusted operating margin is projected to be 3.1% to 3.2%[81] - Adjusted diluted EPS is expected to be $1.25 to $1.45[81]

Financial Performance - Clearfield's Q4 fiscal year 2025 net sales were $41.1 million, a 13% increase from $36.2 million in the prior year's fourth quarter[77] - Fiscal year 2025 sales grew to $150.1 million, up 20% from $125.6 million in fiscal year 2024; Gross profit margin increased to 33.7% from 20.6%[77] - The company's balance sheet remains strong with $166 million of cash, short-term and long-term investments[76] - Clearfield recorded positive cash flow from continuing operations of approximately $10 million in the fourth quarter and $26.5 million for the full fiscal year 2025, including a reduction of inventory of $13.6 million[76] - The company invested $16.5 million to repurchase 551000 shares during the 12-month period ended September 30, 2025[76] Market Position and Growth Strategy - Clearfield will use its position as a leading provider of fiber distribution and management equipment in the Tier 2 and Tier 3 U S Broadband Service Provider Market for continued growth[24] - Estimated Rural TAM of $6 Billion Over Ten Years[31] - U S Backhaul market by 2030 is projected to be $16 billion, driven by 5G densification which drives fiber transport demand[42] - North America Data Center Capacity is expected to have a CAGR of approximately 16%[53] Future Outlook - The company forecasts annual net sales of $160 million to $170 million and annual net income per share of $0.48 to $0.62[80]

FY25 Performance - Revenues reached $14.4 billion, a 4% year-over-year increase[10] - Adjusted EBITDA was $1,104 million, up 5% year-over-year[10] - Adjusted Diluted EPS increased by 11% year-over-year to $2.22[10] - Free Cash Flow amounted to $516 million[10] - The company's Backlog was $47.1 billion with a Book-to-Bill ratio of 1.2x[10] Q4 FY25 Highlights - The company achieved a robust Q4 book-to-bill ratio of 1.6x[9] - Secured a Space Force Range Contract worth $4 billion over ten years[15] - Awarded nuclear services totaling over $1.8 billion over 15 years for Sellafield Decommissioning and Nuclear Waste Partners[16] - NASA awarded Ascend Aerospace & Technology, a joint venture in which Amentum is a partner, a new nine-year $1.8 billion contract to support flight mission operations and training[17] - Secured multiple classified intelligence contracts totaling nearly $700 million[18] FY26 Guidance - The company initiated FY26 guidance with revenue expected to be between $13.95 billion and $14.3 billion, implying underlying growth of approximately 3%[56] - Adjusted EBITDA is projected to be between $1.1 billion and $1.14 billion, representing approximately 5% underlying growth[56] - Adjusted Diluted EPS is expected to be between $2.25 and $2.45, indicating approximately 12% underlying growth[56] - Free Cash Flow is forecasted to be between $525 million and $575 million, also representing approximately 12% underlying growth[56]

Financial Performance - Total revenue for Q3 FY2026 was $644.5 million, a decrease of 5.2% compared to $679.8 million in Q3 FY2025 [8, 27, 29] - Pre-tax income for Q3 FY2026 was $2.8 million [8, 31] - Diluted earnings per share for Q3 FY2026 were $0.05, a decrease of 28.6% [8, 29] - For the first nine months of FY2026, total revenue was $1.7853 billion, down 8.1% from $1.9422 billion in the same period of FY2025 [32, 34, 36] - The company anticipates a loss of $2 to $4 million in Q4 due to the divestiture of dealership operations in Germany [21] Segment Performance - Agriculture segment revenue is expected to be down 15% to 20% for FY26 [12, 45] - Construction segment revenue is expected to be down 5% to 10% for FY26 [16, 45] - Europe segment revenue is expected to be up 35% to 40% for FY26 [21, 45] - Australia segment revenue is expected to be down 20% to 25% for FY26 [26, 45] Balance Sheet - Equipment inventory decreased by $97 million as of October 31, 2025, compared to January 31, 2025 [39] - Used equipment inventory decreased by $96 million [39] - Rental fleet assets decreased to $71 million as of October 31, 2025, from $76 million as of January 31, 2025 [39]