Market Signal Briefing

-

NEW YORK--(BUSINESS WIRE)--Goldman Sachs BDC, Inc. (“GSBD”, the “Company”, “we”, “us”, or “our”) (NYSE: GSBD) today reported financial results for the third quarter ended September 30, 2025 and filed its Form 10-Q with the U.S. Securities and Exchange Commission.

QUARTERLY HIGHLIGHTS

Net investment income and adjusted net investment income per share for the quarter ended September 30, 2025 was $0.40, equating to an annualized net investment income yield on book value of 12.5%.1 Earnings per share for the quarter ended September 30, 2025 was $0.22.

Net asset value ("NAV") per share as of September 30, 2025 decreased 2.1% to $12.75 from $13.02 as of June 30, 2025.

As of September 30, 2025, the Company’s total investments at fair value and commitments were $3,833.2 million, comprised of investments in 171 portfolio companies across 40 industries. The investment portfolio was comprised of 98.2% senior secured debt, including 96.7% in first lien investments.2

During the quarter, the Company had new investment commitments of approximately $470.6 million of which $266.9 million were funded. Fundings of previously unfunded commitments for the quarter were $47.7 million and sales and repayments activity totaled $374.4 million, resulting in net funded investment activity of $(59.8) million.

During the quarter, the Company's 1st Lien/Senior Secured Debt position in Vardiman Black Holdings, LLC (dba Specialty Dental Brands) was placed on non-accrual status due to financial underperformance. As of September 30, 2025, the Company had certain investments held in eight portfolio companies on non-accrual status. As of September 30, 2025, investments on non-accrual status amounted to 1.5% and 2.5% of the total investment portfolio at fair value and amortized cost, respectively.

The Company’s ending net debt-to-equity ratio was 1.17x as of September 30, 2025 compared to 1.12x as of June 30, 2025.

As of September 30, 2025, 70.2% of the Company’s approximately $1,853.0 million aggregate principal amount of debt outstanding was comprised of unsecured debt and 29.8% was comprised of secured debt.3

On February 26, 2025, the Company’s Board of Directors approved a reduction of the base quarterly dividend to $0.32 per share (the “Base Dividend”) with upside potential through quarterly supplemental variable distributions (the “Supplemental Dividend”) in the amount of at least 50% of the Company’s net investment income in excess of the amount of the Base Dividend to the extent there is sufficient net investment income.

The Company’s Board of Directors declared a fourth quarter 2025 Base Dividend of $0.32 per share payable to shareholders of record as of December 31, 2025.4

The Company’s Board of Directors also declared a third quarter 2025 Supplemental Dividend of $0.04 per share payable on or about December 15, 2025 to shareholders of record as of November 28, 2025. Adjusted for the impact of the Supplemental Dividend related to the third quarter’s earnings, the Company’s third quarter adjusted NAV per share was $12.71.5

On June 13, 2025, the Company entered into a 10b5-1 stock repurchase plan, which allows the Company to repurchase up to $75.0 million of shares of the Company’s common stock if the common stock trades below the most recently announced quarter-end NAV per share, subject to certain limitations. During the three months ended September 30, 2025, the Company repurchased 2,136,943 shares for $25.1 million, inclusive of commission and direct acquisition costs.

SELECTED FINANCIAL HIGHLIGHTS

(in $ millions, except per share data)

As of

September 30, 2025

As of

June 30, 2025

Investment portfolio, at fair value2

$

3,196.9

$

3,264.5

Total debt outstanding3

$

1,853.0

$

1,803.1

Net assets

$

1,454.8

$

1,513.4

Ending net debt to equity11

1.17x

1.12x

Net asset value per share

$

12.75

$

13.02

Less: Supplemental Dividend per share declared post-quarter

$

0.04

$

0.03

Adjusted net asset value per share5

$

12.71

$

12.99

(in $ millions, except per share data)

Three Months Ended

September 30, 2025

Three Months Ended

June 30, 2025

Total investment income

$

91.6

$

91.0

Net investment income after taxes

$

45.3

$

44.5

Less: Purchase discount amortization

$

0.5

1.0

Adjusted net investment income after taxes1

$

44.8

$

43.5

Net realized and unrealized gains (losses)

$

(20.6

)

$

(5.2

)

Add: Realized/Unrealized depreciation from the purchase discount

0.5

1.0

Adjusted net realized and unrealized gains (losses)1

$

(20.1

)

$

(4.2

)

Net investment income per share (basic and diluted)

$

0.40

$

0.38

Less: Purchase discount amortization per share

$

—

0.01

Adjusted net investment income per share1

$

0.40

$

0.37

Weighted average shares outstanding

114.4

117.2

Total Quarterly Distributions per share

$

0.51

$

0.53

INVESTMENT ACTIVITY2

The following table summarizes investment activity for the three months ended September 30, 2025:

New Investment

Commitments

Sales and

Repayments

Investment Type

$ Millions

% of Total

$ Millions

% of Total

1st Lien/Senior Secured Debt

$

447.1

95.0

%

$

249.2

66.6

%

1st Lien/Last-Out Unitranche

23.5

5.0

%

107.2

28.6

%

2nd Lien/Senior Secured Debt

—

—

—

—

Unsecured Debt

—

—

—

—

Preferred Stock

—

—

15.8

4.2

%

Common Stock

—

—

2.2

0.6

%

Total

$

470.6

100.0

%

$

374.4

100.0

%

During the three months ended September 30, 2025, new investment commitments were across 13 new portfolio companies and 14 existing portfolio companies. Sales and repayments were primarily driven by the repayment of 4 portfolio companies and the refinance of 4 portfolio companies.

PORTFOLIO SUMMARY2

As of September 30, 2025, the Company’s investments consisted of the following:

Investments at Fair Value

Investment Type

$ Millions

% of Total

1st Lien/Senior Secured Debt

$

2,998.3

93.8

%

1st Lien/Last-Out Unitranche

93.8

2.9

2nd Lien/Senior Secured Debt

48.0

1.5

Unsecured Debt

8.4

0.3

Preferred Stock

26.2

0.8

Common Stock

22.0

0.7

Warrants

0.2

—

(6)

Total

$

3,196.9

100.0

%

The following table presents certain selected information regarding the Company’s investments:

As of

September 30, 2025

December 31, 2024

Number of portfolio companies

171

164

Percentage of performing debt bearing a floating rate7

99.4

%

99.4

%

Percentage of performing debt bearing a fixed rate7

0.6

%

0.6

%

Weighted average yield on debt and income producing investments, at amortized cost8

10.3

%

11.2

%

Weighted average yield on debt and income producing investments, at fair value8

11.2

%

14.1

%

Weighted average leverage (net debt/EBITDA)9

5.8x

6.2x

Weighted average interest coverage9

1.9x

1.8x

Median EBITDA9

$

70.85 million

$

66.14 million

During the quarter, one investment was placed on non-accrual status due to financial underperformance. As of September 30, 2025, investments on non-accrual status amounted to 1.5% and 2.5% of the total investment portfolio at fair value and amortized cost, respectively.

LIQUIDITY AND CAPITAL RESOURCES

As of September 30, 2025, the Company had $1,853.0 million aggregate principal amount of debt outstanding, comprised of $553.0 million of outstanding borrowings under its senior secured revolving credit facility (“Revolving Credit Facility”), with Truist Bank, as administrative agent, and Bank of America, N.A., as syndication agent, $500.0 million of unsecured notes due 2026, $400.0 million of unsecured notes due 2027 and $400.0 million of unsecured notes due 2030. The combined weighted average interest rate on debt outstanding was 5.37% for the three months ended September 30, 2025. As of September 30, 2025, the Company had $1,142.6 million of availability under its Revolving Credit Facility and $147.9 million in cash and cash equivalents.3,10

The Company’s ending net debt-to-equity leverage ratio was 1.17x for the three months ended September 30, 2025, as compared to 1.12x for the three months ended June 30, 2025.11

CONFERENCE CALL

The Company will host an earnings conference call on Friday, November 7, 2025 at 9:00 am Eastern Time. All interested parties are invited to participate in the conference call by dialing (800) 289-0459; international callers should dial +1 (929) 477-0443; conference ID 427709. All participants are asked to dial in approximately 10-15 minutes prior to the call, and reference “Goldman Sachs BDC, Inc.” when prompted. For a slide presentation that the Company may refer to on the earnings conference call, please visit the Investor Resources section of the Company’s website at www.goldmansachsbdc.com. An archived replay will be available on the Company’s webcast link located on the Investor Resources section of the Company’s website.

Please direct any questions regarding the conference call to Goldman Sachs BDC, Inc. Investor Relations, via e-mail, at [email protected].

ENDNOTES

(1)

On October 12, 2020, we completed our merger (the “Merger”) with Goldman Sachs Middle Market Lending Corp. (“MMLC”). The Merger was accounted for as an asset acquisition in accordance with ASC 805-50, Business Combinations — Related Issues. The consideration paid to MMLC’s shareholders was less than the aggregate fair values of the assets acquired and liabilities assumed, which resulted in a purchase discount (the “purchase discount”). The purchase discount was allocated to the cost of MMLC investments acquired by us on a pro-rata basis based on their relative fair values as of the closing date. Immediately following the Merger with MMLC, we marked the investments to their respective fair values and, as a result, the purchase discount allocated to the cost basis of the investments acquired was immediately recognized as unrealized appreciation on our Consolidated Statement of Operations. The purchase discount allocated to the loan investments acquired will amortize over the life of each respective loan through interest income, with a corresponding adjustment recorded as unrealized appreciation on such loan acquired through its ultimate disposition. The purchase discount allocated to equity investments acquired will not amortize over the life of such investments through interest income and, assuming no subsequent change to the fair value of the equity investments acquired and disposition of such equity investments at fair value, we will recognize a realized gain with a corresponding reversal of the unrealized appreciation on disposition of such equity investments acquired.

As a supplement to our financial results reported in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we have provided, as detailed below, certain non-GAAP financial measures to our operating results that exclude the aforementioned purchase discount and the ongoing amortization thereof, as determined in accordance with GAAP. The non-GAAP financial measures include i) Adjusted net investment income per share; ii) Adjusted net investment income after taxes; and iii) Adjusted net realized and unrealized gains (losses). We believe that the adjustment to exclude the full effect of the purchase discount is meaningful because it is a measure that we and investors use to assess our financial condition and results of operations. Although these non-GAAP financial measures are intended to enhance investors’ understanding of our business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. The aforementioned non-GAAP financial measures may not be comparable to similar non-GAAP financial measures used by other companies.

(2)

The discussion of the investment portfolio excludes the investment, if any, in a money market fund managed by an affiliate of Goldman Sachs Group, Inc. (the “Money Market Fund”). As of September 30, 2025, the Company had an investment of $32.7 million in the Money Market Fund.

(3)

Total debt outstanding excludes netting of debt issuance costs of $9.6 million and cumulative hedging adjustments for those borrowings that are designated in a fair value hedging relationship of $(2.6) million as of September 30, 2025. In the third quarter of 2025, the Company entered into interest rate swaps to more closely align the interest rates of some of the Company’s fixed rate liabilities with its investment portfolio, which consists of predominately floating rate loans. The Company designated these interest rate swaps as the hedging instrument in a qualifying fair value hedge accounting relationship.

(4)

The $0.32 per share Base Dividend is payable on or about January 27, 2026 to shareholders of record as of December 31, 2025.

(5)

On February 26, 2025, we announced a distribution framework that is comprised of a quarterly base distribution declared in the relevant quarter and a variable supplemental distribution declared in the following quarter, subject to satisfaction of certain measurement tests and the approval of our Board.

As a supplement, we have provided a non-GAAP financial measure of our financial condition that adjusts the net asset value per share for the declared and unpaid supplemental distribution per share. We believe that the adjustment to the net asset value per share for the supplemental dividend is meaningful because it aligns the supplemental distribution to its relevant quarter earnings.

Although this non-GAAP financial measure is intended to enhance investors’ understanding of our business and performance, this non-GAAP financial measure should not be considered an alternative to GAAP. The aforementioned non-GAAP financial measure may not be comparable to similar non-GAAP financial measures used by other companies.

(6)

Amount rounds to less than 0.1%.

(7)

The fixed versus floating composition has been calculated as a percentage of performing debt investments measured on a fair value basis, including income producing preferred stock investments and excludes investments, if any, placed on non-accrual status.

(8)

Computed based on the (a) annual actual interest rate or yield earned plus amortization of fees and discounts on the performing debt and other income producing investments as of the reporting date, divided by (b) the total performing debt and other income producing investments (excluding investments on non-accrual) at amortized cost or fair value, respectively. This calculation excludes exit fees that are receivable upon repayment of the investment. Excludes the purchase discount and amortization related to the Merger.

(9)

For a particular portfolio company, we calculate the level of contractual indebtedness net of cash (“net debt”) owed by the portfolio company and compare that amount to measures of cash flow available to service the net debt. To calculate net debt, we include debt that is both senior and pari passu to the tranche of debt owned by us but exclude debt that is legally and contractually subordinated in ranking to the debt owned by us. We believe this calculation method assists in describing the risk of our portfolio investments, as it takes into consideration contractual rights of repayment of the tranche of debt owned by us relative to other senior and junior creditors of a portfolio company. We typically calculate cash flow available for debt service at a portfolio company by taking net income before net interest expense, income tax expense, depreciation and amortization (“EBITDA”) for the trailing twelve month period. Weighted average net debt to EBITDA is weighted based on the fair value of our debt investments and excludes investments where net debt to EBITDA may not be the appropriate measure of credit risk, such as cash collateralized loans and investments that are underwritten and covenanted based on recurring revenue.

For a particular portfolio company, we also compare that amount of EBITDA to the portfolio company’s contractual interest expense (“interest coverage ratio”). We believe this calculation method assists in describing the risk of our portfolio investments, as it takes into consideration contractual interest obligations of the portfolio company. Weighted average interest coverage is weighted based on the fair value of our performing debt investments and excludes investments where interest coverage may not be the appropriate measure of credit risk, such as cash collateralized loans and investments that are underwritten and covenanted based on recurring revenue.

Median EBITDA is based on our debt investments and excludes investments where net debt-to-EBITDA may not be the appropriate measure of credit risk, such as cash collateralized loans and investments that are underwritten and covenanted based on recurring revenue.

Portfolio company statistics are derived from the financial statements most recently provided to us of each portfolio company as of the reported end date. Statistics of the portfolio companies have not been independently verified by us and may reflect a normalized or adjusted amount. As of September 30, 2025 and June 30, 2025, investments where net debt-to-EBITDA may not be the appropriate measure of credit risk represented 14.7% and 17.7%, respectively, of total debt investments at fair value.

(10)

The Company’s Revolving Credit Facility has debt outstanding denominated in currencies other than U.S. Dollars (“USD”). These balances have been converted to USD using applicable foreign currency exchange rates as of September 30, 2025. As a result, the Revolving Credit Facility’s outstanding borrowings and the available debt amounts may not sum to the total debt commitment amount.

(11)

The ending net debt-to-equity leverage ratio is calculated by using the total borrowings net of cash and cash equivalents divided by equity as of September 30, 2025 and excludes unfunded commitments.

Goldman Sachs BDC, Inc.

Consolidated Statements of Assets and Liabilities

(in thousands, except share and per share amounts)

 

September 30, 2025

(Unaudited)

December 31, 2024

Assets

Investments, at fair value

Non-controlled/non-affiliated investments (cost of $3,204,888 and $3,533,627)

$

3,100,060

$

3,368,503

Non-controlled affiliated investments (cost of $110,611 and $139,955)

96,873

106,755

Total investments, at fair value (cost of $3,315,499 and $3,673,582)

$

3,196,933

$

3,475,258

Investments in affiliated money market fund (cost of $32,693 and $25,238)

32,693

25,238

Cash

115,183

61,795

Interest and dividends receivable

25,499

28,092

Deferred financing costs

14,050

11,897

Other assets

643

1,103

Total assets

$

3,385,001

$

3,603,383

Liabilities

Debt (net of debt issuance costs of $9,602 and $8,176)

$

1,840,781

$

1,926,452

Interest and other debt expenses payable

8,099

21,289

Management fees payable

8,179

8,780

Incentive fees payable

7,051

6,330

Distribution payable

54,774

52,784

Unrealized depreciation on derivatives

477

38

Secured borrowings

3,209

2,920

Accrued expenses and other liabilities

7,602

12,090

Total liabilities

$

1,930,172

$

2,030,683

Commitments and contingencies (Note 8)

Net assets

Preferred stock, par value $0.001 per share (1,000,000 shares authorized, no shares issued and outstanding)

$

—

$

—

Common stock, par value $0.001 per share (200,000,000 shares authorized, 114,113,096 and 117,297,222 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively)

114

117

Paid-in capital in excess of par

1,909,063

1,946,253

Distributable earnings (loss)

(454,348

)

(373,670

)

Total net assets

$

1,454,829

$

1,572,700

Total liabilities and net assets

$

3,385,001

$

3,603,383

Net asset value per share

$

12.75

$

13.41

Goldman Sachs BDC, Inc.

Consolidated Statements of Operations

(in thousands, except share and per share amounts)

 

For the Three Months Ended

For the Nine Months Ended

September 30,

2025

September 30,

2024

September 30,

2025

September 30,

2024

Investment income:

From non-controlled/non-affiliated investments:

Interest income

$

81,197

$

97,917

$

246,461

$

289,185

Payment-in-kind income

6,854

9,961

23,287

34,452

Other income

1,247

794

3,097

2,427

Dividend income

—

1

—

1

From non-controlled affiliated investments:

Interest income

1,387

1,218

4,017

2,708

Dividend income

225

468

606

1,650

Payment-in-kind income

643

20

1,910

85

Other income

43

34

128

65

Total investment income

$

91,596

$

110,413

$

279,506

$

330,573

Expenses:

Interest and other debt expenses

$

28,079

$

29,298

$

82,800

$

86,015

Management fees

8,179

8,855

25,268

26,452

Incentive fees

7,051

—

22,381

10,882

Professional fees

698

1,335

2,443

3,651

Directors’ fees

206

207

620

621

Other general and administrative expenses

1,166

1,046

3,482

3,143

Total expenses

$

45,379

$

40,741

$

136,994

$

130,764

Net investment income before taxes

$

46,217

$

69,672

$

142,512

$

199,809

Income tax expense, including excise tax

$

907

$

1,490

$

3,135

$

3,809

Net investment income after taxes

$

45,310

$

68,182

$

139,377

$

196,000

Net realized and unrealized gains (losses) on investment transactions:

Net realized gain (loss) from:

Non-controlled/non-affiliated investments

$

5,418

$

(83,796

)

$

(86,449

)

$

(131,446

)

Non-controlled affiliated investments

—

—

(33,824

)

(2,015

)

Foreign currency and other transactions

19

60

483

4,504

Net change in unrealized appreciation (depreciation) from:

Non-controlled/non-affiliated investments

(20,690

)

56,413

60,170

(34,705

)

Non-controlled affiliated investments

(6,587

)

(352

)

19,462

(1,814

)

Foreign currency forward contracts

63

(377

)

(207

)

(191

)

Foreign currency translations and other transactions

1,221

(2,813

)

(3,344

)

(4,968

)

Net realized and unrealized gains (losses)

$

(20,556

)

$

(30,865

)

$

(43,709

)

$

(170,635

)

(Provision) benefit for taxes on realized gain/loss on investments

$

(49

)

$

(189

)

$

(121

)

$

(333

)

(Provision) benefit for taxes on unrealized appreciation/depreciation on investments

—

(47

)

—

288

Net increase (decrease) in net assets from operations

$

24,705

$

37,081

$

95,547

$

25,320

Weighted average shares outstanding

114,398,468

116,942,390

116,289,596

113,805,819

Basic and diluted net investment income per share

$

0.40

$

0.58

$

1.20

$

1.72

Basic and diluted earnings (loss) per share

$

0.22

$

0.32

$

0.82

$

0.22

ABOUT GOLDMAN SACHS BDC, INC.

Goldman Sachs BDC, Inc. is a specialty finance company that has elected to be regulated as a business development company under the Investment Company Act of 1940. GSBD was formed by The Goldman Sachs Group, Inc. (“Goldman Sachs”) to invest primarily in middle-market companies in the United States, and is externally managed by Goldman Sachs Asset Management, L.P., an SEC-registered investment adviser and a wholly-owned subsidiary of Goldman Sachs. GSBD seeks to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, first lien/last-out unitranche and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments. For more information, visit www.goldmansachsbdc.com. Information on the website is not incorporated by reference into this press release and is provided merely for convenience.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “target,” “estimate,” “intend,” “continue,” or “believe” or the negatives thereof or other variations thereon or comparable terminology. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. These statements represent the Company’s belief regarding future events that, by their nature, are uncertain and outside of the Company’s control. Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. Factors or events that could cause our actual results to differ, possibly materially from our expectations, include, but are not limited to, the risks, uncertainties and other factors we identify in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in filings we make with the Securities and Exchange Commission, and it is not possible for us to predict or identify all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

More News From Goldman Sachs BDC, Inc.

Back to Newsroom

, /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Ultra Clean Holdings, Inc. (NASDAQ: UCTT) breached their fiduciary duties to shareholders. 

According to a federal securities lawsuit, Insiders at Ultra Clean caused the company to misrepresent or fail to disclose material information concerning the elevated demand from Chinese original equipment manufacturers (OEMs) and in the general Chinese domestic market for Ultra Clean's products throughout the fiscal year 2024.

If you currently own UCTT and purchased prior to May 6, 2024 please contact Justin Kuehn, Esq. here, by email at [email protected] or call (833) 672-0814. Kuehn Law pays all case costs and does not charge its investor clients.Shareholders should contact the firm immediately as there may be limited time to enforce your rights. 

Why Your Participation Matters:

As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™ 

For additional information, please visit Shareholder Derivative Litigation - Kuehn Law.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts:
Kuehn Law, PLLC
Justin Kuehn, Esq.
53 Hill Street, Suite 605
Southampton, NY 11968
[email protected]
(833) 672-0814

SOURCE Kuehn Law, PLLC

VANCOUVER, BC / ACCESS Newswire / November 6, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to announce that the Company's CEO, Julian Treger, will host an investor update on Wednesday, November 19, 2025, at 7:00am PST / 10:00am EST. The investor update presentation will highlight progress and strategic updates across CoTec's portfolio, including the HyProMag USA project as well as its purchase of Inserma pre-processing units for Texas, Nevada and South Carolina rare earth magnet recycling hubs, the advancement of CoTec Québec Inc. and the Lac Jeannine Iron Tailings Project, the engagement of BBA Inc. to complete the Lac Jeannine Iron Tailings Project Feasibility Study, and the Company's outlook for its North American growth strategy.

, /PRNewswire/ -- Allison Transmission Holdings, Inc. (NYSE: ALSN) ("Allison" or the "Company") today announced that its wholly owned subsidiary, Allison Transmission, Inc. (the "Issuer"), priced its offering of $500 million in aggregate principal amount of 5.875% Senior Notes due 2033 (the "Notes") on November 6, 2025 in a private placement (the "Notes Offering") exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). The Company also announced that it priced its new senior secured incremental term loan facility in an aggregate principal amount of $1,200 million (the "Incremental Term Loan Facility"), which will bear interest at a rate of Term SOFR plus 1.75%. As previously disclosed by the Company, the Issuer is seeking to enter into an amendment to its credit agreement, which, among other things, will provide for the Incremental Term Loan Facility. The Issuer intends to use the net proceeds from the Notes Offering and borrowings under the Incremental Term Loan Facility and its senior secured revolving credit facility, together with cash on hand and anticipated future cash flow, to finance the consummation of the Company's acquisition of the off-highway business of Dana Incorporated (the "Dana Business Acquisition") and to pay related fees, costs and expenses. The consummation of the Notes Offering is expected to occur on or about November 21, 2025, subject to customary conditions and the Incremental Term Loan Facility is expected to close concurrently with the closing of the Dana Business Acquisition. If the Dana Business Acquisition does not close, the Notes will be subject to a special mandatory redemption provision requiring the redemption of the Notes at par.

The Notes will be guaranteed by each of the Issuer's existing and subsequently acquired or organized domestic subsidiaries that is a borrower under or that guarantees obligations under the Issuer's senior secured credit facilities, subject to certain exceptions.  On the issue date, it is expected that none of the Issuer's domestic subsidiaries will guarantee its obligations under the senior secured credit facilities, and therefore none of the Issuer's domestic subsidiaries will initially guarantee the Notes.

The Notes are being offered in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act, and to certain non-U.S. persons in transactions outside of the United States in reliance on Regulation S under the Securities Act. The Notes will not be registered under the Securities Act or the securities laws of any state or jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to purchase the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Allison Transmission

Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of propulsion solutions for commercial and defense vehicles and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway vehicles (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining, construction and agriculture) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has approximately 1,600 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release are forward-looking statements, including all statements regarding the Notes Offering and the Dana Business Acquisition. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plans," "project," "anticipate," "believe," "estimate," "predict," "intend," "forecast," "could," "potential," "continue" or the negative of these terms or other similar terms or phrases. Forward-looking statements are not guarantees of future performance and involve known and unknown risks. Factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made include, but are not limited to: the Dana Business Acquisition may not be completed in a timely manner or at all; the Company may experience delays, unanticipated costs or restrictions resulting from regulatory review of the Dana Business Acquisition, including the risk that the Company may be unable to obtain governmental and regulatory approvals required for the Dana Business Acquisition or that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Dana Business Acquisition; the full amount of the financing intended to fund the Dana Business Acquisition may not be obtained; uncertainties associated with the Dana Business Acquisition may cause a loss of both companies' management personnel and other key employees, and cause disruptions to both companies' business relationships; the purchase agreement for the Dana Business Acquisition subjects the Company and Dana Incorporated to restrictions on business activities prior to the effective time of the Dana Business Acquisition; the Company is expected to incur significant costs in connection with the Dana Business Acquisition and integration; litigation risks relating to the Dana Business Acquisition; the Dana Business and its operations may not be integrated successfully in the expected time frame; the Dana Business Acquisition may result in a loss of customers, vendors, and other business counterparties; the combined company may fail to realize all of the anticipated benefits of the Dana Business Acquisition or fail to effectively manage its expanded operations; our participation in markets that are competitive; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments, competitive threats and changing customer needs, including with respect to electric hybrid and fully electric commercial vehicles; increases in cost, disruption of supply or shortage of labor, freight, raw materials, energy or components used to manufacture or transport our products or those of our customers or suppliers, including as a result of geopolitical risks, natural disasters, extreme weather events, wars and public health crises such as pandemics; global economic volatility; general economic and industry conditions, including the risk of prolonged inflation and recession; labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers or suppliers; the highly cyclical industries in which certain of our end users operate; uncertainty in the global regulatory and business environments in which the Company operates; the concentration of our net sales in our top five customers and the loss of any one of these; cybersecurity risks to our operational systems, security systems or infrastructure owned by us or our third-party vendors and suppliers; the failure of markets outside North America to increase adoption of fully automatic transmissions; the success of our research and development efforts, the outcome of which is uncertain; U.S. and foreign defense spending; risks associated with our international operations, including acts of war and increased trade protectionism and tariffs; the discovery of defects in our products, resulting in delays in new model launches, recall campaigns and/or increased warranty costs and reduction in future sales or damage to our brand and reputation; our ability to identify, consummate and effectively integrate acquisitions and collaborations; risks related to our indebtedness;  other factors disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, which it filed with the SEC on February 13, 2025, Holdings' Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which it filed with the SEC on May 2, 2025, Holdings' Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, which it filed with the SEC on August 5, 2025, Holdings' Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, which it filed with the SEC on October 30, 2025, or in any other document the Company filed or files with the SEC; and other factors beyond our control. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, the Company can give no assurance that the expectations will be attained or that any deviation will not be material. All information is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in expectations.

SOURCE Allison Transmission Holdings Inc.

DoorDash (DASH) shares tumbled Thursday after the food delivery firm missed profit estimates and gave a weak outlook.

November 06, 2025 5:26 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 6, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Fluor Corporation (NYSE: FLR) between February 18, 2025 and July 31, 2025, both dates inclusive (the "Class Period"), of the important November 14, 2025 lead plaintiff deadline.

SO WHAT: If you purchased Fluor securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Fluor class action, go to https://rosenlegal.com/submit-form/?case_id=44868 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 14, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) costs associated with the Gordie Howe International Bridge ("Gordie Howe"), the Interstate 365 Lyndon B. Johnson ("I-635/LBJ") and Interstate 35E ("I-35") highways in Texas projects were growing because of, inter alia, subcontractor design errors, price increases, and scheduling delays; (2) the foregoing, as well as customer reduction in capital spending and client hesitation around economic uncertainty, was having, or was likely to have, a significant negative impact on Fluor's business and financial results; (3) accordingly, Fluor's financial guidance for the full year 2025 was unreliable and/or unrealistic, the effectiveness of Fluor's risk mitigation strategy was overstated, and the impact of economic uncertainty on Fluor's business and financial results was understated; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Fluor class action, go to https://rosenlegal.com/submit-form/?case_id=44868 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273470

Q3: 2025-11-05 Earnings SummaryEPS of $0.04 misses by $0.01

Genworth Financial, Inc. (GNW) Q3 2025 Earnings Call November 6, 2025 10:00 AM EST

Company Participants

Christine Jewell
Thomas McInerney - President, CEO & Director
Jerome Upton - Executive VP & CFO

Conference Call Participants

Peter Enderlin - MAZ Capital Advisors, LLC
Ross Levin - Arbiter Partners Capital Management, LLC

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to Genworth Financial's Third Quarter 2025 Earnings Conference Call. My name is Lisa, and I'll be your coordinator today. [Operator Instructions] As a reminder, the conference is being recorded for replay purposes. [Operator Instructions] I would now like to turn the presentation over to Christine Jewell, Head of Investor Relations. Please go ahead.

Christine Jewell

Thank you, and good morning. Welcome to Genworth's Third Quarter 2025 Earnings Call. The slide presentation that accompanies this call is available on the Investor Relations section of the Genworth website investors.genworth.com. Our earnings release and financial supplement can also be found there, and we encourage you to review these materials. Speaking today will be Tom McInerney, President and Chief Executive Officer; and Jerome Upton, Chief Financial Officer. Following our prepared remarks, we will open the call up for a question-and-answer period. In addition to our speakers, Jamala Arland, President and CEO of our U.S. Life Insurance business; Greg Karawan, General Counsel; Kelly Saltzgaber, Chief Investment Officer; and Samir Shah, CEO of CareScout Services, will also be available to take your questions.

During the call this morning, we may make various forward-looking statements. Our actual results may differ materially from such statements. We advise you to read the cautionary notes regarding forward-looking statements in our earnings release and related presentation as well as the risk factors of our most recent annual report on Form 10-K as filed with the SEC. This morning's discussion also includes non-GAAP financial measures that we

Recommended For You

Third Quarter Highlights

Third quarter 2025 net loss attributable to Huntsman of $25 million compared to a net loss of $33 million in the prior year period; third quarter 2025 diluted loss per share of $0.14 compared to diluted loss per share $0.19 in the prior year period.
Third quarter 2025 adjusted net loss attributable to Huntsman of $5 million compared to adjusted net income of $17 million in the prior year period; third quarter 2025 adjusted diluted loss per share of $0.03 compared to adjusted diluted income per share of $0.10 in the prior year period.
Third quarter 2025 adjusted EBITDA of $94 million compared to $131 million in the prior year period.
Third quarter 2025 net cash provided by operating activities from continuing operations was $200 million. Free cash flow from continuing operations was $157 million for the third quarter 2025 compared to free cash flow of $93 million in the prior year period.
Regular quarterly dividend reset to $0.0875 per share, a decrease of 65% versus the prior dividend. This represents an annual dividend payout of $0.35 per share.

Three months ended

Nine months ended

September 30, 

September 30, 

In millions, except per share amounts

2025

2024

2025

2024

Revenues

$     1,460

$     1,540

$     4,328

$     4,584

Net loss attributable to Huntsman Corporation

$        (25)

$        (33)

$       (188)

$        (48)

Adjusted net (loss) income(1)

$          (5)

$          17

$        (58)

$          30

Diluted loss per share

$      (0.14)

$      (0.19)

$      (1.09)

$      (0.28)

Adjusted diluted (loss) income per share(1)

$      (0.03)

$       0.10

$      (0.34)

$       0.17

Adjusted EBITDA(1)

$          94

$        131

$        240

$        343

Net cash provided by operating activities from continuing operations

$        200

$        134

$        221

$        126

Free cash flow from continuing operations(2)

$        157

$          93

$        105

$          (7)

See end of press release for footnote explanations and reconciliations of non-GAAP measures.

, /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today reported third quarter 2025 results with revenues of $1,460 million, net loss attributable to Huntsman of $25 million, adjusted net loss attributable to Huntsman of $5 million and adjusted EBITDA of $94 million. 

Peter R. Huntsman, Chairman, President, and CEO, commented:

"As we expected, third quarter fundamentals remained consistent with the first half of the year. Volumes improved compared to the prior year while pricing in some parts of the portfolio remained under pressure. Cash generation and cost control remain top priorities for our Company. Our current restructuring programs, that will likely exceed $100 million in savings, remain on track and are expected to be completed in 2026. Additionally, our cash generation over the past year has been strong despite lower levels of profitability, reflecting quick actions taken on working capital and capital expenditure control in an ever-challenging environment. After thorough deliberation, and reflecting the global economic conditions of our industry, our Board decided to reset the regular dividend to 35 cents a share annually, a reduction of 65%. The adjusted dividend payout will allow us to preserve our financial flexibility as we continue to navigate this extended cyclical trough, while also allowing the Company to keep a balanced capital allocation program including a competitive regular dividend. We would anticipate returning to a higher dividend payout as soon as conditions warrant."

Segment Analysis for 3Q25 Compared to 3Q24

Polyurethanes

The decrease in revenues in our Polyurethanes segment for the three months ended September 30, 2025 compared to the same period of 2024 was primarily due to lower average selling prices, partially offset by higher sales volumes. MDI average selling prices decreased primarily due to less favorable supply and demand dynamics. Sales volumes increased primarily in the Americas and Asia regions. The decrease in segment adjusted EBITDA was primarily due to the impacts of lower average selling prices, inventory reductions and lower equity earnings from our minority-owned joint venture in China, partially offset by higher sales volumes, lower raw material costs and cost savings achieved from our cost optimization program.

Performance Products

The decrease in revenues in our Performance Products segment for the three months ended September 30, 2025 compared to the same period of 2024 was primarily due to lower sales volumes and lower average selling prices. Sales volumes decreased primarily due to the closure of our Moers, Germany maleic anhydride facility and overall softening market conditions. Average selling prices decreased primarily due to competitive pressures. The decrease in segment adjusted EBITDA was primarily due to lower sales volumes and margins.

Advanced Materials

The increase in revenues in our Advanced Materials segment for the three months ended September 30, 2025 compared to the same period of 2024 was primarily due to higher average selling prices. Average selling prices increased primarily due to the positive impact of major foreign currency exchange rate movements against the U.S. dollar. Sales volumes were essentially unchanged from the same period in 2024. Segment adjusted EBITDA was slightly lower primarily due to an unfavorable impact from inventory reductions.

Liquidity and Capital Resources

During the three months ended September 30, 2025, our free cash flow from continuing operations was $157 million as compared to $93 million in the same period of 2024. As of September 30, 2025, we had approximately $1.4 billion of combined cash and unused borrowing capacity.

During the three months ended September 30, 2025, we spent $43 million on capital expenditures from continuing operations as compared to $41 million in the same period of 2024. During 2025, we expect to spend between approximately $170 million to $180 million on capital expenditures.

Income Taxes

In the third quarter of 2025, our effective tax rate was -43% and our adjusted effective tax rate was 40%.

Earnings Conference Call Information

We will hold a conference call to discuss our third quarter 2025 financial results on Friday, November 7, 2025, at 10:00 a.m. ET.

Webcast link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=FbX1HK73

Participant dial-in numbers:
Domestic callers:                    (877) 402-8037
International callers:               (201) 378-4913

The conference call will be accompanied by presentation slides that will be accessible via the webcast link and Huntsman's investor relations website, www.huntsman.com/investors. Upon conclusion of the call, the webcast replay will be accessible via Huntsman's website.

Upcoming Conferences
During the fourth quarter 2025, a member of management is expected to present at:
Seaport's Chemical Cornucopia Conference, November 19, 2025
Citi's 2025 Basic Materials Conference, December 2, 2025
Bank of America High Yield Conference, December 3, 2025

A webcast of the presentation, if applicable, along with accompanying materials will be available at www.huntsman.com/investors.

Table 1 – Results of Operations

Three months ended

Nine months ended

September 30, 

September 30, 

In millions, except per share amounts

2025

2024

2025

2024

Revenues

$     1,460

$     1,540

$     4,328

$     4,584

Cost of goods sold

1,256

1,306

3,741

3,906

Gross profit

204

234

587

678

Operating expenses:

Selling, general and administrative

163

153

489

505

Research and development

29

27

94

91

Restructuring, impairment and plant closing costs

12

5

137

20

Gain on acquisition of assets, net

-

-

(5)

(51)

Prepaid asset write-off

-

-

-

71

Income associated with litigation matter, net

-

-

(33)

-

Other operating (income) expense, net

(6)

7

(23)

4

Total operating expenses

198

192

659

640

Operating income (loss)

6

42

(72)

38

Interest expense, net

(20)

(21)

(60)

(60)

Equity in income of investment in unconsolidated affiliates

1

5

-

42

Other income, net

6

8

13

22

(Loss) income from continuing operations before income taxes

(7)

34

(119)

42

Income tax expense

(3)

(39)

(25)

(32)

(Loss) income from continuing operations

(10)

(5)

(144)

10

Income from discontinued operations, net of tax

(1)

(12)

(1)

(12)

Net loss

(11)

(17)

(145)

(2)

Net income attributable to noncontrolling interests

(14)

(16)

(43)

(46)

Net loss attributable to Huntsman Corporation

$        (25)

$        (33)

$       (188)

$        (48)

Adjusted EBITDA (1)

$          94

$        131

$        240

$        343

Adjusted net (loss) income (1)

$          (5)

$          17

$        (58)

$          30

Basic loss per share

$      (0.14)

$      (0.19)

$      (1.09)

$      (0.28)

Diluted loss per share

$      (0.14)

$      (0.19)

$      (1.09)

$      (0.28)

Adjusted diluted (loss) income per share (1)

$      (0.03)

$       0.10

$      (0.34)

$       0.17

Common share information:

Basic weighted average shares

173

172

173

172

Diluted weighted average shares

173

172

173

172

Diluted shares for adjusted diluted (loss) income per share

173

173

173

173

See end of press release for footnote explanations.

Table 2 – Results of Operations by Segment

Three months ended

Nine months ended

September 30, 

(Worse) /

September 30, 

(Worse) /

In millions

2025

2024

better

2025

2024

better

Segment revenues:

Polyurethanes

$        956

$     1,003

(5 %)

$     2,800

$     2,930

(4 %)

Performance Products

246

280

(12 %)

773

870

(11 %)

Advanced Materials

265

261

2 %

778

801

(3 %)

Total reportable segments' revenues

1,467

1,544

(5 %)

4,351

4,601

(5 %)

Intersegment eliminations

(7)

(4)

n/m

(23)

(17)

n/m

Total revenues

$     1,460

$     1,540

(5 %)

$     4,328

$     4,584

(6 %)

Segment adjusted EBITDA (1) :

Polyurethanes

$          48

$          76

(37 %)

$        121

$        195

(38 %)

Performance Products

29

42

(31 %)

91

130

(30 %)

Advanced Materials

44

47

(6 %)

125

142

(12 %)

n/m = not meaningful

See end of press release for footnote explanations.

Table 3 – Factors Impacting Sales Revenue

Three months ended

September 30, 2025 vs. 2024

Average selling price (a)

Local

Exchange

Sales

currency & mix

rate

volume (b)

Total

Polyurethanes

(10 %)

1 %

4 %

(5 %)

Performance Products

(2 %)

0 %

(10 %)

(12 %)

Advanced Materials

(1 %)

2 %

1 %

2 %

Combined segments

(7 %)

1 %

1 %

(5 %)

Nine months ended

September 30, 2025 vs. 2024

Average selling price (a)

Local

Exchange

Sales

currency & mix

rate

volume (b)

Total

Polyurethanes

(5 %)

0 %

1 %

(4 %)

Performance Products

1 %

0 %

(12 %)

(11 %)

Advanced Materials

(3 %)

0 %

0 %

(3 %)

Combined segments

(4 %)

0 %

(2 %)

(6 %)

(a) Excludes sales from tolling arrangements, by-products and raw materials.

(b) Excludes sales from by-products and raw materials.

Table 4 – Reconciliation of U.S. GAAP to Non-GAAP Measures

 Income tax 

 Net (loss) 

 Diluted (loss) income 

 EBITDA 

and other expense

 income 

 per share 

Three months ended

Three months ended

Three months ended

Three months ended

September 30, 

September 30, 

September 30, 

September 30, 

In millions, except per share amounts

2025

2024

2025

2024

2025

2024

2025

2024

Net loss

$         (11)

$         (17)

$         (11)

$         (17)

$      (0.06)

$      (0.10)

Net income attributable to noncontrolling interests

(14)

(16)

(14)

(16)

(0.08)

(0.09)

Net loss attributable to Huntsman Corporation

(25)

(33)

(25)

(33)

(0.14)

(0.19)

Interest expense, net from continuing operations

20

21

Income tax expense from continuing operations

3

39

$           (3)

$         (39)

Depreciation and amortization from continuing operations

73

70

Business acquisition and integration expenses and purchase accounting inventory adjustments

-

-

-

1

-

1

-

0.01

Income tax settlement related to U.S. Tax Reform Act

-

-

-

5

-

5

-

0.03

EBITDA / Loss from discontinued operations

1

12

 N/A 

 N/A 

1

12

0.01

0.07

Loss on sale of business/assets

2

1

-

3

2

4

0.01

0.02

Fair value adjustments to Venator investment, net and other tax matter adjustments

-

(5)

-

-

-

(5)

-

(0.03)

Certain legal and other settlements and related expenses, net

-

11

-

2

-

13

-

0.08

Amortization of pension and postretirement actuarial losses

8

9

(2)

2

6

11

0.03

0.06

Restructuring, impairment and plant closing and transition costs

12

6

(1)

3

11

9

0.06

0.05

Adjusted (1)

$          94

$        131

$           (6)

$         (23)

(5)

17

$      (0.03)

$       0.10

Adjusted income tax expense(1)

6

23

Net income attributable to noncontrolling interests

14

16

Adjusted pre-tax income (1)

$          15

$          56

Adjusted effective tax rate (3)

40 %

41 %

Effective tax rate

(43 %)

115 %

 Income tax 

 Net (loss) 

 Diluted (loss) income 

 EBITDA 

and other expense

 income 

 per share 

Nine months ended

Nine months ended

Nine months ended

Nine months ended

September 30, 

September 30, 

September 30, 

September 30, 

In millions, except per share amounts

2025

2024

2025

2024

2025

2024

2025

2024

Net loss

$       (145)

$           (2)

$       (145)

$           (2)

$      (0.84)

$      (0.01)

Net income attributable to noncontrolling interests

(43)

(46)

(43)

(46)

(0.25)

(0.27)

Net loss attributable to Huntsman Corporation

(188)

(48)

(188)

(48)

(1.09)

(0.28)

Interest expense, net from continuing operations

60

60

Income tax expense from continuing operations

25

32

$         (25)

$         (32)

Income tax expense (benefit) from discontinued operations(3)

1

(8)

Depreciation and amortization from continuing operations

214

214

Business acquisition and integration (gain) expenses and purchase accounting inventory adjustments

(5)

21

-

(16)

(5)

5

(0.03)

0.03

Income tax settlement related to U.S. Tax Reform Act

-

-

-

5

-

5

-

0.03

EBITDA / Loss from discontinued operations(3)

-

20

N/A

N/A

1

12

0.01

0.07

Establishment of significant deferred tax asset valuation allowances, net

-

-

1

-

1

-

0.01

-

Loss on sale of business/assets

2

1

-

3

2

4

0.01

0.02

Fair value adjustments to Venator investment, net and other tax matter adjustments

-

(12)

-

2

-

(10)

-

(0.06)

Certain legal and other settlements and related (income) expenses, net

(32)

13

7

1

(25)

14

(0.14)

0.08

Amortization of pension and postretirement actuarial losses

22

25

(4)

1

18

26

0.10

0.15

Restructuring, impairment and plant closing and transition costs

141

25

(3)

(3)

138

22

0.80

0.13

Adjusted (1)

$        240

$        343

$         (24)

$         (39)

(58)

30

$      (0.34)

$       0.17

Adjusted income tax expense(1)

24

39

Net income attributable to noncontrolling interests

43

46

Adjusted pre-tax income (1)

$            9

$        115

Adjusted effective tax rate (4)

267 %

34 %

Effective tax rate

(21 %)

76 %

N/M = not meaningful

N/A = not applicable

See end of press release for footnote explanations.

Table 5 – Balance Sheets

September 30, 

December 31,

In millions

2025

2024

Cash

$               468

$               340

Accounts and notes receivable, net

768

725

Inventories

836

917

Prepaid expenses

57

114

Other current assets

53

29

Property, plant and equipment, net

2,475

2,493

Other noncurrent assets

2,425

2,496

Total assets

$            7,082

$            7,114

Accounts payable

$               688

$               770

Other current liabilities

535

470

Current portion of debt

378

325

Long-term debt

1,630

1,510

Other noncurrent liabilities

850

876

Huntsman Corporation stockholders' equity

2,766

2,959

Noncontrolling interests in subsidiaries

235

204

Total liabilities and equity

$            7,082

$            7,114

Table 6 – Outstanding Debt 

September 30, 

December 31,

In millions

2025

2024

Debt:

Revolving credit facility

$               366

$                  -

Senior notes

1,488

1,799

Accounts receivable programs

124

-

Variable interest entities

9

16

Other debt

21

20

Total debt - excluding affiliates

2,008

1,835

Total cash

468

340

Net debt - excluding affiliates (4)

$            1,540

$            1,495

See end of press release for footnote explanations.

Table 7 – Summarized Statements of Cash Flows

Three months ended

Nine months ended

September 30, 

September 30, 

In millions

2025

2024

2025

2024

Total cash at beginning of period

$            399

$            335

$            340

$            540

Net cash provided by operating activities from continuing operations

200

134

221

126

Net cash used in operating activities from discontinued operations

(4)

(5)

(8)

(16)

Net cash used in investing activities

(42)

(7)

(74)

(87)

Net cash used in financing activities

(83)

(129)

(14)

(231)

Effect of exchange rate changes on cash

(2)

2

3

(2)

Total cash at end of period

$            468

$            330

$            468

$            330

Free cash flow from continuing operations (2) :

Net cash provided by operating activities from continuing operations

$            200

$            134

$            221

$            126

Capital expenditures

(43)

(41)

(116)

(133)

Free cash flow from continuing operations (2)

$            157

$              93

$            105

$              (7)

Supplemental cash flow information:

Cash paid for interest

$              (5)

$             (14)

$             (49)

$             (55)

Cash paid for income taxes

(18)

(16)

(79)

(60)

Cash paid for restructuring and integration

(7)

(3)

(18)

(26)

Cash paid for pensions

(9)

(9)

(25)

(26)

Depreciation and amortization from continuing operations

73

70

214

214

Change in primary working capital:

Accounts and notes receivable

$              37

$              58

$             (26)

$             (72)

Inventories

55

(66)

114

(137)

Accounts payable

(9)

(1)

(103)

21

Total change in primary working capital

$              83

$              (9)

$             (15)

$           (188)

See end of press release for footnote explanations.

Footnotes

(1)

We use adjusted EBITDA to measure the operating performance of our business and for planning and evaluating the performance of our business segments.  We provide adjusted net income (loss) because we feel it provides meaningful insight for the investment community into the performance of our business.  We believe that net income (loss) is the performance measure calculated and presented in accordance with generally accepted accounting principles in the U.S. ("GAAP") that is most directly comparable to adjusted EBITDA and adjusted net income (loss).  Additional information with respect to our use of each of these financial measures follows:

Adjusted EBITDA, adjusted net income (loss) and adjusted diluted income (loss) per share, as used herein, are not necessarily comparable to other similarly titled measures of other companies.

Adjusted EBITDA is computed by eliminating the following from net income (loss):  (a) net income attributable to noncontrolling interests; (b) interest expense, net; (c) income taxes; (d) depreciation and amortization; (e) amortization of pension and postretirement actuarial losses; (f) restructuring, impairment and plant closing and transition costs; and further adjusted for certain other items set forth in the reconciliation of net income (loss) to adjusted EBITDA in Table 4 above. 

Adjusted net income (loss) and adjusted diluted income (loss) per share are computed by eliminating the after tax impact of the following items from net income (loss): (a) net income attributable to noncontrolling interests; (b) amortization of pension and postretirement actuarial losses; (c) restructuring, impairment and plant closing and transition costs; and further adjusted for certain other items set forth in the reconciliation of net income (loss) to adjusted net income (loss) in Table 4 above.  The income tax impacts, if any, of each adjusting item represent a ratable allocation of the total difference between the unadjusted tax expense and the total adjusted tax expense, computed without consideration of any adjusting items using a with and without approach.

We may disclose forward-looking adjusted EBITDA because we cannot adequately forecast certain items and events that may or may not impact us in the near future, such as business acquisition and integration expenses and purchase accounting inventory adjustments, net, certain legal and other settlements and related expenses, gains on sale of businesses/assets and certain tax only items, including tax law changes not yet enacted. Each of such adjustment has not yet occurred, is out of our control and/or cannot be reasonably predicted. In our view, our forward-looking adjusted EBITDA represents the forecast net income on our underlying business operations but does not reflect any adjustments related to the items noted above that may occur and can cause our adjusted EBITDA to differ.

(2)

We believe free cash flow is an important indicator of our liquidity as it measures the amount of cash we generate. Management internally uses free cash flow measure to: (a) evaluate our liquidity, (b) evaluate strategic investments, (c) plan stock buyback and dividend levels and (d) evaluate our ability to incur and service debt. Free cash flow is defined as net cash provided by (used in) operating activities less capital expenditures. Free cash flow is not a defined term under U.S. GAAP, and it should not be inferred that the entire free cash flow amount is available for discretionary expenditures.

(3)

We believe the adjusted effective tax rate provides improved comparability between periods through the exclusion of certain items that management believes are not indicative of the businesses' operational profitability and that may obscure underlying business results and trends. In our view, effective tax rate is the performance measure calculated and presented in accordance with U.S. GAAP that is most directly comparable to adjusted effective tax rate. The reconciliation of historical adjusted effective tax rate and effective tax rate is set forth in Table 4 above. Please see the reconciliation of our net income to adjusted net income in Table 4 for details regarding the tax impacts of our non-GAAP adjustments.

(4)

Net debt is a measure we use to monitor how much debt we have after taking into account our total cash. We use it as an indicator of our overall financial position, and calculate it by taking our total debt, including the current portion, and subtracting total cash.

About Huntsman:

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2024 revenues of approximately $6 billion from our continuing operations. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 60 manufacturing, R&D and operations facilities in approximately 25 countries and employ approximately 6,300 associates within our continuing operations. For more information about Huntsman, please visit the company's website at  www.huntsman.com . 

Social Media:

X : http://www.x.com/Huntsman_Corp
Facebook : www.facebook.com/huntsmancorp
LinkedIn : www.linkedin.com/company/huntsman

Forward-Looking Statements: 

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, divestitures or strategic transactions, business trends and any other information that is not historical information. When used in this press release, the words "estimates," "expects," "anticipates," "likely," "projects," "outlook," "plans," "intends," "believes," "forecasts," or future or conditional verbs, such as "will," "should," "could" or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, management's examination of historical operating trends and data, are based upon our current expectations and various assumptions and beliefs. In particular, such forward-looking statements are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the Company's operations, markets, products, prices and other factors as discussed in the Company's filings with the Securities and Exchange Commission (the "SEC"). Significant risks and uncertainties may relate to, but are not limited to, high energy costs in Europe, inflation and high capital costs, geopolitical instability, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of the Company's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions and manufacturing optimization improvements in the Company's businesses and to realize anticipated cost savings, and other financial, operational, economic, competitive, environmental, political, legal, regulatory and technological factors. Any forward-looking statement should be considered in light of the risks set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024, which may be supplemented by other risks and uncertainties disclosed in any subsequent reports filed or furnished by the Company from time to time. All forward-looking statements apply only as of the date made. Except as required by law, the Company undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.

SOURCE Huntsman Corporation

HomeIndustriesHotels/Restaurants/CasinosVacation-rental platform says it expects to keep spending on new services and lobbying efforts, as cities place restrictions on bookingsPublished: Nov. 6, 2025 at 4:18 p.m. ET

Vacation-rental platform Airbnb Inc. on Thursday said demand held up through October and forecast fourth-quarter sales that were above expectations, but the company said spending on new services and political battles would cut into profits.

Shares were up 4% after hours on Thursday.

Partner CenterMost Popular

NEW YORK, Nov. 06, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Savara Inc. ("Savara Inc." or the "Company") (NASDAQ: SVRA) of a class action securities lawsuit.

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Savara Inc. investors who were adversely affected by alleged securities fraud between March 4, 2024 and May 23, 2025. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/savara-inc-lawsuit-submission-form?prid=175630&wire=3 

SVRA investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) MOLBREEVI BLA, the treatment of pulmonary alveolar proteinosis, lacked sufficient information regarding MOLBREEVI’s chemistry, manufacturing, and/or controls; (ii) accordingly, FDA was unlikely to approve the MOLBREEVI BLA in its current form; (iii) foregoing made it unlikely that Savara would complete its submission of the MOLBREEVI BLA within the timeframe it had represented to investors; (iv) delay in MOLBREEVI’s regulatory approval increased the likelihood that the Company would need to raise additional capital; and (v) as a result, defendants’ public statements were materially false and misleading at all relevant times.

WHAT'S NEXT? If you suffered a loss in Savara Inc. during the relevant time frame, you have until November 7, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected] 
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com 

A major Wall Street firm has made a bold call on a well-known tech giant, suggesting its growth story may be fundamentally misunderstood by the market. On Nov. 3, UBS upgraded Cisco Systems NASDAQ: CSCO from Neutral to Buy, issuing a new, higher price target of $88 per share.

NEW YORK, Nov. 06, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in WPP plc ("WPP" or the "Company") (NYSE: WPP) of a class action securities lawsuit.

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of WPP investors who were adversely affected by alleged securities fraud between February 27, 2025 and July 8, 2025. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/wpp-plc-lawsuit-submission-form?prid=175632&wire=3

WPP investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.

CASE DETAILS: According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of WPP’s media arm; notably, that it was not truly equipped to handle the ongoing macroeconomic challenges while competing effectively and had instead begun to lose significant market share to its competitors. On July 9, 2025, WPP published a trading update for the first half of 2025, alerting investors that the company had allegedly “seen a deterioration in performance as Q2 has progressed.” The Company attributed its misfortune to both “continued macro uncertainty weighing on client spend and weaker net new business than originally anticipated,” at least in part due to “some distraction to the business” as a result of the continued restructuring of WPP Media a.k.a. GroupM. Following this news, the price of WPP’s common stock declined dramatically. From a closing market price of $35.82 per share on July 8, 2025, WPP’s stock price fell to $29.34 per share on July 9, 2025, a decline of about 18.1% in the span of just a single day.

WHAT'S NEXT? If you suffered a loss in WPP during the relevant time frame, you have until December 8, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

November 06, 2025 16:20 ET

 | Source:

NL Industries

Dallas, Texas, Nov. 06, 2025 (GLOBE NEWSWIRE) -- NL Industries, Inc. (NYSE: NL) today reported a net loss attributable to NL stockholders of $7.8 million, or $.16 per share, in the third quarter of 2025 compared to net income attributable to NL stockholders of $36.0 million, or $.74 per share, in the third quarter of 2024. NL results include an unrealized loss of $.5 million in the third quarter of 2025 related to the change in value of marketable equity securities compared to an unrealized gain of $18.6 million in the third quarter of 2024. For the first nine months of 2025, NL reported a net loss attributable to NL stockholders of $6.8 million, or $.14 per share, compared to net income attributable to NL stockholders of $50.7 million, or $1.04 per share, for the first nine months of 2024. NL results include an unrealized loss of $9.1 million in the first nine months of 2025 related to the change in value of marketable equity securities compared to a $21.8 million unrealized gain in the first nine months of 2024. 

CompX’s net sales were $40.0 million for the third quarter of 2025 compared to $33.6 million in the third quarter of 2024 and $120.6 million for the first nine months of 2025 compared to $107.5 million for the same prior year period. The increase in sales for both periods is due to higher Security Products sales primarily to the government security market and higher Marine Components sales to various markets including the towboat, government and industrial markets. CompX’s segment profit was $4.8 million for the third quarter of 2025 compared to $3.3 million for the third quarter of 2024 and $17.0 million for the first nine months of 2025 compared to $12.1 million for the same prior year period. CompX’s segment profit increased in the third quarter and for the first nine months of 2025 compared to the same periods in 2024 due to higher sales and gross margin at each of CompX’s Security Products and Marine Components reporting units.

NL recognized equity in losses of Kronos of $11.3 million in the third quarter of 2025 compared to equity in earnings of $21.9 million in the third quarter of 2024. NL recognized equity in losses of $8.6 million in the first nine months of 2025 compared to equity in earnings of $30.4 million in the same period of 2024. As previously reported, effective July 16, 2024, Kronos acquired the 50% joint venture interest in Louisiana Pigment Company, L.P. (“LPC”) previously held by Venator Investments, Ltd. Prior to the acquisition, Kronos held a 50% joint venture interest in LPC. Following the acquisition, LPC became a wholly-owned subsidiary of Kronos. The results of operations of LPC have been included in Kronos’ results of operations beginning as of the acquisition date.

Kronos’ net sales of $456.9 million in the third quarter of 2025 were $27.8 million, or 6%, lower than in the third quarter of 2024. Kronos’ net sales of $1.4 billion in the first nine months of 2025 were $22.9 million, or 2%, lower than in the first nine months of 2024. Kronos’ net sales decreased in the third quarter of 2025 compared to the third quarter of 2024 primarily due to the effects of lower average TiO2 selling prices and lower sales volumes in its European and export markets somewhat offset by higher sales volumes in its North American market. Kronos’ net sales decreased in the first nine months of 2025 compared to the same period in 2024 due to lower average TiO2 selling prices and changes in product mix. During the first nine months of 2025, Kronos and the TiO2 industry have seen unprecedented global uncertainty related to U.S. trade policies, geopolitical tensions and general hesitancy by customers to build inventories which has prolonged the market downturn and impacted Kronos’ sales volumes and pricing momentum. Kronos started 2025 with average TiO2 selling prices 2% higher than at the beginning of 2024 but its average TiO2 selling prices declined 6% during the first nine months of 2025. Kronos’ average TiO2 selling prices were 7% lower in the third quarter of 2025 as compared to the third quarter of 2024 and 2% lower in the first nine months of 2025 as compared to the first nine months of 2024. Fluctuations in currency exchange rates (primarily the euro) also affected Kronos’ net sales comparisons, increasing net sales by approximately $14 million in the third quarter of 2025 and by approximately $11 million in the first nine months of 2025 as compared to the same prior year periods. The table at the end of this press release shows how each of these items impacted Kronos’ net sales. 

Kronos’ loss from operations in the third quarter of 2025 was $19.2 million as compared to income from operations of $38.9 million in the third quarter of 2024. For the first nine months of 2025, Kronos’ income from operations was $26.6 million as compared to $94.3 million in the first nine months of 2024. Kronos’ income from operations decreased in the third quarter of 2025 compared to the third quarter of 2024 primarily due to the effects of unfavorable fixed cost absorption due to reduced operating rates at certain of its manufacturing facilities, higher cost inventory produced in the second quarter relative to the same quarter of 2024 and included in cost of sales in the third quarter and currency fluctuations (primarily the euro). Kronos’ unabsorbed fixed production costs related to decreased production volumes in the third quarter of 2025 were approximately $27 million. Kronos’ income from operations decreased in the first nine months of 2025 compared to the first nine months of 2024 primarily due the net effects of approximately $45 million in additional unabsorbed fixed production costs it recognized as a result of reduced operating rates at its production facilities somewhat offset by lower production costs (primarily raw materials). Kronos’ income from operations for the three and nine months ended September 30, 2024 includes non-cash charges of approximately $4 million and $14 million, respectively, related to accelerated depreciation in connection with the completion of the closure of its sulfate process line in Canada in the third quarter of 2024, and the first nine months of 2024 includes a charge of approximately $2 million related to workforce reductions. Kronos’ selling, general and administrative expense for the three and nine months ended September 30, 2024 includes $2.2 million of transaction costs incurred in connection with its LPC acquisition. Kronos operated its production facilities at overall average capacities of 85% of practical capacity utilization in the first nine months of 2025 (93%, 81% and 80% in the first, second and third quarters of 2025, respectively) compared to 93% in the first nine months of 2024 (87%, 99% and 92% in the first, second and third quarters of 2024, respectively). Fluctuations in currency exchange rates (primarily the euro) increased Kronos’ loss from operations by approximately $4 million in the third quarter of 2025 and increased its income from operations by approximately $5 million in the first nine months of 2025 as compared to the same prior year periods. 

Corporate expenses increased $.7 million in the third quarter of 2025 compared to the third quarter of 2024 primarily due to higher litigation fees and related costs. Corporate expenses for the first nine months of 2025 were comparable to the same period of 2024. Interest and dividend income decreased in the third quarter and for the first nine months of 2025 compared to the same periods of 2024 primarily due to lower average interest rates and decreased cash balances. Marketable equity securities represent the change in unrealized gains (losses) on our portfolio of marketable equity securities during the periods.

Net loss attributable to NL stockholders for the third quarter and the first nine month of 2025 includes expense of $5.9 million ($4.7 million, or $.10 per share, net of tax) related to Kronos’ non-cash deferred income tax expense reflecting the impact of the rate reduction on its net German deferred tax asset, and income of $1.1 million ($.9 million, or $.02 per share, net of tax) due to Kronos’ recognition of a non-cash gain resulting from the remeasurement of its earn-out liability related to the acquisition of the remaining interest in its TiO2 manufacturing joint venture.

Net income attributable to NL stockholders for the third quarter and first nine months of 2024 includes income of $1.1 million ($.9 million, or $.02 per share, net of tax) related to insurance recoveries. Net income attributable to NL stockholders for the third quarter and the first nine months of 2024 includes income of $15.6 million ($12.3 million, or $.25 per share, net of tax) due to Kronos’ non-cash gain resulting from the remeasurement of its investment in LPC. Additionally, net income attributable to NL stockholders for the first nine months of 2024 includes a loss of $.3 million ($.3 million, or $.01 per share, net of tax) due to Kronos’ recognition of an aggregate charge related to a write-off of deferred financing costs and income of $1.3 million ($1.0 million, or $.02 per share, net of tax) related to insurance recoveries.

The statements in this release relating to matters that are not historical facts are forward-looking statements that represent management's beliefs and assumptions based on currently available information. Although we believe the expectations reflected in such forward-looking statements are reasonable, we cannot give any assurances that these expectations will prove to be correct. Such statements by their nature involve substantial risks and uncertainties that could significantly impact expected results, and actual future results could differ materially from those described in such forward-looking statements. While it is not possible to identify all factors, we continue to face many risks and uncertainties. Factors that could cause actual future results to differ materially include, but are not limited to:

Future supply and demand for our products; Kronos’ ability to realize expected cost savings from strategic and operational initiatives;Kronos’ ability to integrate acquisitions, including Louisiana Pigment Company, L.P., into its operations and realize expected synergies and innovations; The extent of the dependence of certain of our businesses on certain market sectors;The cyclicality of our businesses (such as Kronos’ TiO2 operations);Customer and producer inventory levels;Unexpected or earlier-than-expected industry capacity expansion (such as the TiO2 industry);Changes in raw material and other operating costs (such as energy, ore, zinc, aluminum, steel and brass costs), including as a result of additional or changed tariffs on imported raw materials, and our ability to pass those costs on to our customers or offset them with reductions in other operating costs;Changes in the availability of raw materials (such as ore);General global economic and political conditions that harm the worldwide economy, disrupt our supply chain, increase material and energy costs or reduce demand or perceived demand for TiO2 and our products or impair our ability to operate our facilities (including changes in the level of gross domestic product in various regions of the world, tariffs, natural disasters, terrorist acts, global conflicts and public health crises);Operating interruptions (including, but not limited to, labor disputes, leaks, natural disasters, fires, explosions, unscheduled or unplanned downtime, transportation interruptions, certain regional and world events or economic conditions and public health crises);Technology related disruptions (including, but not limited to, cyber-attacks; software implementation, upgrades, or improvements; technology processing failures; or other events) related to our technology infrastructure that could impact our ability to continue operations, or at key vendors which could impact our supply chain, or at key customers which could impact their operations and cause them to curtail or pause orders;Competitive products and substitute products;Competition from Chinese suppliers with less stringent regulatory and environmental compliance requirements;Customer and competitor strategies;Potential consolidation of Kronos’ competitors;Potential consolidation of Kronos’ customers;The impact of pricing and production decisions;Competitive technology positions;Our ability to protect or defend intellectual property rights;Potential difficulties in integrating future acquisitions;Potential difficulties in upgrading or implementing accounting and manufacturing software systems; The introduction of new, or changes in existing, tariffs, trade barriers or trade disputes (including tariffs imposed by the U.S. federal government on imports from Canada, where Kronos has a manufacturing facility); Fluctuations in currency exchange rates (such as changes in the exchange rate between the U.S. dollar and each of the euro, the Norwegian krone and the Canadian dollar and between the euro and the Norwegian krone), or possible disruptions to our business resulting from uncertainties associated with the euro or other currencies;Decisions to sell operating assets other than in the ordinary course of business;Kronos’ ability to renew or refinance credit facilities or other debt instruments in the future;Changes in interest rates;Kronos’ ability to comply with covenants contained in its revolving bank credit facility;Our ability to maintain sufficient liquidity;The timing and amounts of insurance recoveries;The ability of our subsidiaries or affiliates to pay us dividends;Uncertainties associated with CompX’s development of new products and product features;The ultimate outcome of income tax audits, tax settlement initiatives or other tax matters, including future tax reform;Our ability to utilize income tax attributes or changes in income tax rates related to such attributes, the benefits of which may or may not have been recognized under the more-likely-than-not recognition criteria;Environmental matters (such as those requiring compliance with emission and discharge standards for existing and new facilities or new developments regarding environmental remediation or decommissioning obligations at sites related to our former operations);Government laws and regulations and possible changes therein (such as changes in government regulations which might impose various obligations on former manufacturers of lead pigment and lead-based paint, including us, with respect to asserted health concerns associated with the use of such products), including new environmental, sustainability, health and safety or other regulations (such as those seeking to limit or classify TiO2 or its use);The ultimate resolution of pending litigation (such as our lead pigment and environmental matters); andPending or possible future litigation (such as litigation related to CompX’s use of certain permitted chemicals in its productions process) or other actions. Should one or more of these risks materialize (or if the consequences of such a development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those currently forecasted or expected. We disclaim any intention or obligation to update or revise any forward-looking statement whether as a result of changes in information, future events or otherwise.

NL Industries, Inc. is engaged in component products (security products and recreational marine components) and chemicals (TiO2) businesses.

Investor Relations Contact

Bryan A. Hanley
Senior Vice President and Treasurer
(972) 233-1700

NL INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except earnings per share)

                  Three months ended    Nine months ended     September 30,    September 30,     2024    2025    2024    2025  (unaudited)Net sales $ 33.6 $ 40.0 $ 107.5 $ 120.6Cost of sales   24.1   29.0   77.2   84.5             Gross margin   9.5   11.0   30.3   36.1             Selling, general and administrative expense   6.2   6.2   18.2   19.1Other operating income (expense):            Insurance recoveries   1.1   —   1.3   —Corporate expense   (2.3)   (3.0)   (9.2)   (9.2)             Income from operations   2.1   1.8   4.2   7.8             Equity in earnings (losses) of Kronos Worldwide, Inc.   21.9   (11.3)   30.4   (8.6)             Other income (expense):                Interest and dividend income   2.7   2.1   7.9   5.6Marketable equity securities   18.6   (.5)   21.8   (9.1)Other components of net periodic pension and OPEB cost   (.3)   (.3)   (.9)   (.9)Interest expense   (.2)   —   (.5)   (.7)             Income (loss) before income taxes   44.8   (8.2)   62.9   (5.9)             Income tax expense  (benefit)   8.5   (.9)   10.8   (.9)             Net income  (loss)   36.3   (7.3)   52.1   (5.0)             Noncontrolling interest in net income of subsidiary   .3   .5   1.4   1.8             Net income (loss) attributable to NL stockholders $ 36.0 $ (7.8) $ 50.7 $ (6.8)             Net income (loss) per share attributable to NL stockholders $ .74 $ (.16) $ 1.04 $ (.14)             Weighted average shares used in the calculation of
net income (loss) per share   48.8   48.9   48.8   48.9 NL INDUSTRIES, INC.

COMPONENTS OF INCOME FROM OPERATIONS

(In millions)

             Three months ended Nine months ended September 30, September 30, 2024    2025    2024    2025 (unaudited)CompX segment profit$ 3.3 $ 4.8 $ 12.1 $ 17.0Insurance recoveries  1.1   —   1.3   —Corporate expense  (2.3)   (3.0)   (9.2)   (9.2)            Income from operations$ 2.1 $ 1.8 $ 4.2 $ 7.8 CHANGE IN KRONOS’ NET SALES

       Three months ended     Nine months ended     September 30,  September 30,  2025 vs. 2024  2025 vs 2024  (unaudited) Percentage change in net sales:       TiO2 sales volume (3)%  —%TiO2 product pricing (7)   (2) TiO2 product mix/other 1   (1) Changes in currency exchange rates 3   1       Total (6)%    (2)%  

ToplinePeloton’s stock price stumbled 6% on Thursday shortly after the company announced it would voluntarily recall some 833,000 exercise bikes due to an issue that could cause seats to break during use.

A seat post issue could cause injuries or falls, the Consumer Product Safety Commission said.

Getty Images

Key FactsThe recall applies to Peloton Original Series Bike+ model PL02 sold between December 2019 and July 2022, according to the company, and impacted bikes will have a serial number beginning with the letter “T.”

These bikes come equipped with a seat post that can break while being ridden, causing “fall and injury hazards,” according to the Consumer Product Safety Commission.

Peloton has received three reports of seats breaking, leading to two injuries.

The recall also applies to about 44,800 bikes sold in Canada, Peloton said, but the company has so far received no reports of seats breaking in that country.

Key BackgroundPeloton, which went public with an IPO in 2019, grew rapidly during the COVID-19 pandemic as customers when gyms were forced to close or operate at a limited capacity. The company reported revenue of $915 million in 2019, which then doubled to $1.82 billion in 2020. The company kept growing through 2021, reporting $4.02 billion in revenue before sales began to decline the next year. Revenue in 2024 dropped to $2.7 billion. Peloton’s stock price reached record highs of $162 per share in December 2020, but has declined significantly over the last few years. Its stock was still down 24% year-to-date on Thursday.

TangentThis is the second time Peloton has recalled a large number of bikes due to a similar seat post issue. In 2023, the company recalled over 2.2 million bikes of an earlier model over an issue that caused similar hazards. Customers reported 35 instances of seats breaking before the recall, including 13 reports of injuries including “fractured wrist, lacerations and bruises,” according to the Consumer Product Safety Commission.

Further ReadingForbesWhat Is Happening With Peloton? And Other Pandemic LessonsBy Liz Elting

-

To date, this initiative has provided a total of $525,000 in direct grants to neighborhood fixtures working to recover from devastating January wildfires

LOS ANGELES--(BUSINESS WIRE)--Steadfast LA, in partnership with Banc of California, distributed a second round of small business recovery grants through its Small Business Initiative, awarding a total of $400,000 to ten cornerstone businesses in Altadena, Malibu, Pasadena, and the Pacific Palisades to help them reopen, restore jobs, and bring a sense of normalcy back to their communities. When combined with the first round of grants, this initiative has now disbursed $525,000 in direct support to small businesses in these communities. In addition to the announcement, Steadfast LA released a video featuring these business owners receiving their grants and sharing how the funding will accelerate their recovery.

The latest round of funding supports a mix of small businesses ranging from restaurants and cafés to pharmacies, dental offices, and veterinary centers, helping them recover from losses and get back to the important work of serving their neighborhoods. Some of these establishments were burned to the ground during the wildfires or experienced severe damage, while others faced steep declines in business as residents relocated.

“This initiative is about standing shoulder to shoulder with small business owners who define the character and strength of our neighborhoods,” said Rick Caruso, Founder and Chairman of Steadfast LA. “They’ve been through an incredibly tough year, but their determination to rebuild is what makes Los Angeles extraordinary. By helping them recover from the wildfires, we know entire neighborhoods will come back stronger.”

“As the largest independent bank based in Los Angeles, with deep ties to local communities, we see firsthand how much small businesses mean to the neighborhoods we serve,” said Jared Wolff, Chairman and CEO of Banc of California. “By helping local entrepreneurs rebuild after these wildfires, we’re strengthening the foundation of the communities that make Los Angeles such a dynamic place to live and work.”

The ten businesses receiving grants are:

Altadena Beverage and Market – Pasadena

Beach Side Café / Upstage Catering – Pacific Palisades

Bulgarini Gelato Artigianale – Altadena

The Palisades Dentists – Pacific Palisades

Palisades Garden Café – Pacific Palisades

Juicy Ladies – Pacific Palisades

V’s Restaurant + Bar – Malibu

Pacific Palisades Veterinary Center – Pacific Palisades

Vittorio’s – Pacific Palisades

Knolls Pharmacy – Pacific Palisades

This round follows Steadfast LA’s first distribution of grants in September, when three Altadena businesses received funding to help recover from the wildfires.

Launched in August 2025, Steadfast LA’s Small Business Initiative provides direct grants of up to $50,000 to small businesses in wildfire-affected communities across Altadena, Malibu, Pasadena, and the Pacific Palisades. Banc of California seeded the program with a $1 million contribution through its Wildfire Relief & Recovery Fund, with Steadfast LA providing additional financial and operational support.

To learn more about this initiative and the small businesses it has supported, visit SteadfastLA.com or follow Steadfast LA on X and Instagram.

About Steadfast LA

Steadfast LA, founded and led by Rick Caruso, is a civic nonprofit organization dedicated to rebuilding Los Angeles after the devastating January 2025 fires. United by resilience and a shared vision for a stronger future, the organization comprises Angelenos committed to revitalizing the Altadena, Malibu, Pasadena, and Pacific Palisades communities. The group aims to accelerate the rebuilding process with efficiency and innovation by bringing together top leaders, bold ideas, and effective solutions to get things done right and fast. Visit https://www.steadfastla.com for more information about the organization and follow their efforts on X and Instagram.

About Banc of California, Inc.

Banc of California, Inc. (NYSE: BANC) is a bank holding company with over $34 billion in assets and the parent company of Banc of California. Banc of California is one of the nation’s premier relationship-based business banks, providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California is the largest independent bank headquartered in Los Angeles and the third largest bank headquartered in California and offers a broad range of loan and deposit products and services through 79 full-service branches located throughout California and in Denver, Colorado, and Durham, North Carolina, as well as through regional offices nationwide. The bank also provides full-service payment processing solutions to its clients and serves the Community Association Management industry nationwide with its technology-forward platform, SmartStreet™. The bank is committed to its local communities through the Banc of California Charitable Foundation, and by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. Member FDIC. For more information, please visit us at www.bancofcal.com.

More News From Banc of California, Inc.

Back to Newsroom

The logo of U.S. oil and gas company EOG Resources is seen in its office in Chongqing, China December 15, 2017. Picture taken December 15, 2017. REUTERS/Chen Aizhu Purchase Licensing Rights, opens new tab

CompaniesNov 6 (Reuters) - EOG Resources

(EOG.N), opens new tab beat analysts' estimates for third-quarter profit on Thursday, as a rise in output helped the U.S. oil and gas producer offset a drop in crude prices.

The company received a production boost from its $5.6 billion deal for Encino Acquisition Partners, which helped expand EOG's presence in the Utica and Marcellus region, one of the most prolific natural gas basins in the world.

Sign up here.

Meanwhile, oil and gas production in the U.S. rose to record highs in August, data from the Energy Information Administration showed.

EOG said it produced 1.3 million barrels of oil equivalent per day, which rose from 1.08 million boepd a year earlier.

The Houston-based company posted an adjusted profit of $2.71 per share for the quarter ended September 30, compared with analysts' average estimate of $2.43, according to data compiled by LSEG.

Reporting by Vallari Srivastava in Bengaluru; Editing by Sriraj Kalluvila

Our Standards: The Thomson Reuters Trust Principles., opens new tab

AUSTIN, Texas, Nov. 06, 2025 (GLOBE NEWSWIRE) -- via IBN -- Golden Triangle Ventures, Inc. (OTC: GTVH) today outlined a comprehensive plan designed to position the Company and its shareholders for continued growth and long-term value creation. As part of this plan, the Company is in discussions regarding the potential asset sale of its operating divisions, GoldenEra Development and Deep South Electrical Contractors, while GoFast Sports is being discussed to remain under Golden Triangle Ventures as a core brand as additional initiatives are developed within its manufacturing division.

A Shareholder-First Approach

Golden Triangle Ventures emphasized that shareholders remain the top priority throughout this process. The Company is developing a FINRA-compliant shareholder alignment and compensation plan to ensure all existing shareholders benefit from any future structure. This will include defined record dates and participation requirements to ensure fairness and compliance for all eligible holders.

“Our mission is to protect shareholders while positioning our operating assets to perform at a higher level,” said Javier Leal, Chief Executive Officer of Golden Triangle Ventures. “GoldenEra and Deep South have scaled rapidly, but our current framework limits how quickly we can take the next step. These actions are about ensuring our progress continues without losing momentum.”

Why the Company is Taking Action

Over the past few months, Golden Triangle Ventures has rebuilt its foundation — transforming from a dormant entity into an active, revenue-producing company operating across multiple sectors. However, legacy legal, vendor, and corporate structure issues have arisen, limiting how quickly the Company can take the next step without risking the progress achieved to date. These challenges have created inefficiencies that must be resolved immediately to support continued growth and long-term stability as a whole.

The proposed asset sale will provide shareholders with value in the success of the operating divisions, while enabling Golden Triangle Ventures to enter a structured phase focused on growth, organization, and operational execution. This approach ensures that both the Company and its shareholders benefit — the operating businesses can continue to expand under a cleaner framework, and GTVH can rebuild from a position of strength and integrity.

The proposed framework is designed to allow the Company’s operating divisions to continue expanding under a leaner, growth-oriented structure capable of pursuing future opportunities, including an eventual uplisting to OTCQB. Meanwhile, Golden Triangle Ventures will focus on corporate cleanup, addressing legacy obligations, and refining its internal structure to ensure long-term stability and integrity — while making sure shareholders retain the most value throughout this process.

Looking Ahead

Golden Triangle Ventures is now working closely with its legal, financial, and regulatory advisors to:

Advancement in Asset Sale of Subsidiaries Address legacy legal, vendor debts and preferred equity matters Position the Company for consistent, long-term growth driven by its core consumer brand and manufacturing initiatives The Company confirmed that no definitive agreements have been signed, and any corporate action will follow board approval, legal review, and full regulatory compliance. Formal updates will be provided as progress continues.

About Golden Triangle Ventures

Golden Triangle Ventures, Inc. (OTC: GTVH) is a diversified holding company focused on consumer and manufacturing brands, led by GoFast Sports, while exploring the potential acquisition of its operating divisions GoldenEra Development and Deep South Electrical Contractors. The Company’s mission is to build high-performance businesses that generate sustainable growth and long-term shareholder value through operational excellence and transparency.

For more information, visit www.GoldenTriangleInc.com.

Safe Harbor Statement
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations. These risks and uncertainties include, among others, market conditions, execution risks, regulatory requirements, and other factors described in the Company’s public filings. The Company undertakes no obligation to update or revise forward-looking statements except as required by law.

CONTACT INFORMATION:

GoldenEra Development (@GoldenEraNews) on X

Golden Triangle Ventures (GTV_Inc) on X

Website: GoldenTriangleInc.com

Contact:
IBN Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
[email protected]

During open enrollment, starting Nov. 1, residents can access affordable Ambetter from Arizona Complete Health plans in nine counties.  

, /PRNewswire/ -- Ambetter from Arizona Complete Health, a product offered by a Centene Corporation (NYSE: CNC) company, a leading healthcare enterprise that provides insurance to under-insured and uninsured populations through the Health Insurance Marketplace®, will offer a variety of affordable health insurance plans to Arizonans in nine counties for plan year 2026. The open enrollment period for the Health Insurance Marketplace runs from Nov. 1, 2025, through Jan. 15, 2026. Enroll by Dec. 15, 2025, for coverage starting Jan. 1, 2026.

"We are proud to offer affordable, comprehensive health care coverage at a four-star quality rating to thousands of hard-working Arizonans," said Plan President and Chief Executive Officer of Arizona Complete Health James Stover. "With several different options to choose from, Ambetter from Arizona Complete Health has customized its offerings to meet the needs of individuals and families, as well as employees with our new business offering through ICHRA. We look forward to continuing our mission of transforming the health of the communities we serve, one person at a time."

Ambetter from Arizona Complete Health offers its members access to quality care and convenient services. 2026 benefits and offerings include: 

Affordable and Reliable Coverage:
Ambetter from Arizona Complete Health provides coverage for all essential health benefits, including preventive and wellness services, maternity and newborn care, pediatric services, mental health services, hospitalizations and prescription drug coverage. Some plans also include dental and vision coverage.
Ambetter Health Solutions:
Ambetter Health Solutions, Centene Corporation's off-exchange marketplace business offerings, delivers individual health insurance plans that are compatible with Individual Coverage Health Reimbursement Arrangements (ICHRAs). While not an ICHRA itself, Ambetter Health Solutions supports employers who choose to adopt this reimbursement model by providing employees with access to affordable, customizable and dependable coverage options. Available in select states, including Arizona, these plans empower individuals to choose the coverage that best fits their needs, helping employers control costs while offering greater choice and flexibility to their workforce.
Ambetter Perks:
Ambetter from Arizona Complete Health offers additional services to support your health and financial well-being through the Ambetter Perks program for members in Arizona. This program gives members access to discounts on a variety of products and services, including wellness activities, financial tools, memberships, out-of-pocket prescription costs and over-the-counter (OTC) health items. It also includes services that promote healthy lifestyles and address social factors that impact health. The Ambetter Perks program is open to all members.
Convenient Online Enrollment:
Through the Ambetter from Arizona Complete Health website, people can browse and compare coverage options, determine their eligibility for financial subsidies and directly enroll in coverage — all in one place. The platform is accessible through mobile devices, so people can enroll using smartphones. If a person is unable to complete enrollment all at once, the system will save progress and provide reminders to finish enrollment.
My Health Pays*:
Members have access to the My Health Pays® program, where they can earn points for practicing healthy eating habits, staying active and leading a healthy lifestyle. Through the program, members can complete health-related activities and challenges to earn up to $500 in rewards in 2026. These rewards can be used for health-related expenses such as copays and deductibles (pharmacy copays are excluded). My Health Pays also allows members to set and reach health goals at their own pace by providing seasonal suggestions for activities and guidance to help stay on track.
Virtual 24/7 Care**:
Virtual 24/7 Care offers members a licensed provider via telehealth for members to access care for illnesses such as flu, skin conditions, ear infections, fever and respiratory infections — all from the comfort of their home.

The full list of nine counties in which Ambetter from Arizona Complete Health will be offered can be found at ambetterhealth.com/en/az/health-plans/coverage-map.

Arizona residents interested in learning more about Ambetter from Arizona Complete Health or enrolling in a health plan during the open enrollment period may visit ambetterhealth.com/en/az.

About Ambetter from Arizona Complete Health
Ambetter from Arizona Complete Health serves under-insured and uninsured populations through the federal Health Insurance Marketplace®. Ambetter from Arizona Complete Health is underwritten by Health Net of Arizona, Inc. (dba Arizona Complete Health), which is a Qualified Health Plan issuer in Arizona. Ambetter Health, offering the Ambetter Health Solutions product, is underwritten by Health Net Community Solutions of Arizona, Inc. For more information, please visit ambetterhealth.com/en/az/. This is a solicitation for insurance. For information on your right to receive an Ambetter from Arizona Complete Health plan free of discrimination, or your right to receive language, auditory and/or visual assistance services, please visit ambetterhealth.com/en/ and scroll to the bottom of the page.

*Healthcare-related costs will vary by member and the plan in which you are enrolled. Funds expire immediately upon termination of insurance coverage. My Health Pays® rewards cannot be used for pharmacy copays. Restrictions apply. Members must qualify for and complete all activities to receive $500 or more. Visit Member.AmbetterHealth.com for more details. Your health plan is committed to helping you achieve your best health. Rewards for participating in a wellness program are available to all members. If you think you might be unable to meet a standard for a reward under this wellness program, you might qualify for an opportunity to earn the same reward by different means.

**Cost sharing may apply when using Virtual 24/7 Care or Virtual Primary Care. Virtual 24/7 Care cost share does not apply to HSA plans until the deductible is met and is only applicable when used through the Virtual 24/7 Care program. Ambetter Health does not provide medical care. Medical care is provided by individual providers, which are independent contractors and not agents of Ambetter Health.

SOURCE Ambetter from Arizona Complete Health

NEW YORK, Nov. 06, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Fly-E Group, Inc. ("Fly-E" or the "Company") (NASDAQ: FLYE) of a class action securities lawsuit.

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Fly-E investors who were adversely affected by alleged securities fraud between July 15, 2025 and August 14, 2025. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/fly-e-group-inc-lawsuit-submission-form?prid=175637&wire=3

FLYE investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.

CASE DETAILS: According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the safety of Fly-E’s lithium battery which in turn took a material toll on its E-vehicle sales revenue, despite making lofty long-term projections, Fly-E’s forecasting processes fell short as sales continued to decline and operating expenses increased, ultimately, derailing the Company’s revenue projections. On August 14, 2025, the truth emerged when Fly-E filed a form NT 10-Q: Notification of inability to timely file Form 10-Q for the first quarter of fiscal year 2026 revealing a substantial decrease of 32% in net revenues “primarily driven by a decrease in total units sold.” In pertinent part, the Company attributed the decline to “recent lithium-battery accidents involving E-Bikes and E-Scooters.” Following this news, the price of Fly E’s common stock declined dramatically. From a closing market price of $7.76 per share on August 14, 2025, Fly-E’s stock price fell to $1.00 per share on August 15, 2025, a decline of about 87% in the span of just a single day.

WHAT'S NEXT? If you suffered a loss in Fly-E during the relevant time frame, you have until November 10, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

HOCHTIEF Aktiengesellschaft (OTCPK:HOCFF) Q3 2025 Earnings Call November 6, 2025 10:30 AM EST

Company Participants

Mike Pinkney - Head of Corporate Strategy
Juan Cases - Chairman of the Executive Board

Conference Call Participants

Luis Prieto - Kepler Cheuvreux, Research Division
Marcin Wojtal - BofA Securities, Research Division
Dario Maglione - BNP Paribas, Research Division
Filipe Leite - Banco BPI, S.A., Research Division
Nicolas Mora - Morgan Stanley, Research Division
Alvaro Lenze Julia - Alantra Equities Sociedad de Valores, S.A., Research Division

Presentation

Operator

Ladies and gentlemen, welcome to the HOCHTIEF 9 Months 2025 Results Conference Call. I'm Serge, the Chorus Call operator. [Operator Instructions] The conference is being recorded. [Operator Instructions] The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Mike Pinkney. Please go ahead.

Mike Pinkney
Head of Corporate Strategy

Thanks very much, operator. Good afternoon, everyone, and thank you for joining this HOCHTIEF 9 Months 2025 Results Call. I'm Mike Pinkney, Head of Capital Markets Strategy. I'm here with our CEO, Juan Santamaria; and our CFO, Christa Andresky; as well as our Head of IR, Tobias Loskamp; and other colleagues from our senior management team. We're looking forward to taking your questions. But to start with, our CEO is going to run us through the details of another strong set of HOCHTIEF numbers, our guidance increase and provide you with an update on the group's strategy. Juan, all yours.

Juan Cases
Chairman of the Executive Board

Thank you, Mike, and thank you, everyone, and welcome to everyone joining us for this results call. HOCHTIEF has achieved an outstanding performance during the first 9 months of 2025. The successful implementation of our growth strategy is reflected in the group's strong and sustainable financial performance. We are delivering significant sales growth, rising margins and a positive evolution of the group's derisked

Recommended For You

Ford executives are considering scrapping the electric version of the F-150 pickup truck, the Wall Street Journal reported Thursday, citing people familiar with the matter.

Ford declined to comment on the matter, but said that it was focused on producing gas and hybrid powered variants of its F-150 as it recovers from the fire at Novelis.

Ford is reportedly considering scrapping the electric F-150 Lightning truck, above. REUTERS
Last month, a union official told Reuters that Ford was pausing production at the Dearborn, Michigan, plant that makes its F-150 Lightning electric pickup due to a fire at a supplier’s aluminum factory.

“We have good inventories of the F-150 Lightning and will bring Rouge Electric Vehicle Center back up at the right time, but don’t have an exact date at this time,” Ford said in a statement on Thursday.

The WSJ report added that General Motors executives have discussed discontinuing some electric trucks, citing people familiar with the matter.

Ford CEO Jim Farley and rivals GM and Chrysler-parent Stellantis have rolled back their ambitious plans for EVs in the US. Getty Images
The Detroit three, which includes Ford, GM and Chrysler-parent Stellantis, have rolled back their ambitious plans for EVs in the United States, pivoting to their gasoline-powered models.

November 06, 2025 3:13 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 6, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Freeport-McMoRan Inc. (NYSE: FCX) resulting from allegations that Freeport may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Freeport securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=45553 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: On September 24, 2025, Freeport issued a press release entitled "Freeport Provides Update on PT Freeport Indonesia Operations." It stated that Freeport "announced today an update on the status of the previously reported mud rush incident at the Grasberg Block Cave mine (GBC) in Indonesia. On September 20, 2025, PT Freeport Indonesia (PTFI) located two team members who were regrettably fatally injured in the September 8th incident."

On this news, Freeport's stock fell by 16.95% on September 24, 2025.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. At the time Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273484

UWM Holdings Corporation (UWMC) Q3 2025 Earnings Call November 6, 2025 10:00 AM EST

Company Participants

Blake Kolo - Chief Business Officer & Head of Investor Relations
Mathew Ishbia - Chairman, President & CEO
Rami Hasani - Executive VP & CFO

Conference Call Participants

Terry Ma - Barclays Bank PLC, Research Division
Eric Hagen - BTIG, LLC, Research Division
Bose George - Keefe, Bruyette, & Woods, Inc., Research Division
Douglas Harter - UBS Investment Bank, Research Division
Jeffrey Adelson - Morgan Stanley, Research Division
Mikhail Goberman - Citizens JMP Securities, LLC, Research Division

Presentation

Operator

Good morning. My name is Aaron, and I'll be your conference operator for today. At this time, I'd like to welcome everyone to the UWM Holdings Corporation Third Quarter 2025 Earnings Conference Call. [Operator Instructions] Blake Kolo, you may begin your conference. Thank you.

Blake Kolo
Chief Business Officer & Head of Investor Relations

Good morning. This is Blake Kolo, Chief Business Officer and Head of Investor Relations. Thank you for joining us, and welcome to the Third Quarter 2025 UWM Holdings Corporation's Earnings Call. Before we start, I would like to remind everyone that this conference call includes forward-looking statements. For more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to the earnings release that we issued this morning. Our commentary today will also include non-GAAP financial measures. For information on our non-GAAP metrics and the reconciliation between the GAAP and non-GAAP metrics for the reported results, please refer to the earnings release issued earlier today as well as our filings with the SEC. I will now turn the call over to Mat Ishbia, Chairman, President and CEO of UWM Holdings Corporation and United Wholesale Mortgage.

Mathew Ishbia
Chairman, President & CEO

Thanks, Blake, and thank you, everyone, for joining. Over the past 3-plus years, we've successfully

Recommended For You

MasterCraft Boat Holdings, Inc. (MCFT) Q1 2026 Earnings Call November 6, 2025 8:30 AM EST

Company Participants

Alec Harmon
Bradley Nelson - CEO & Director
Scott Kent - Chief Financial Officer

Conference Call Participants

Craig Kennison - Robert W. Baird & Co. Incorporated, Research Division
Eric Wold - Texas Capital Securities, Research Division

Presentation

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the MasterCraft Boat Holdings, Inc. Fiscal First Quarter 2026 Earnings Conference Call. Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Alec Harmon, Director, Strategy and Investor Relations. Please go ahead, sir.

Alec Harmon

Thank you, Stephanie, and welcome, everyone. Thank you for joining us today as we discuss MasterCraft's fiscal first quarter performance for 2026. As a reminder, today's call is being webcast live and will also be archived on our website for future listening. With me on this morning's call is Brad Nelson, Chief Executive Officer; and Scott Kent, Chief Financial Officer. Brad will begin with an overview of our operational performance. After that, Scott will discuss our financial performance. Brad will then provide some closing remarks before we open the call for questions.

Before we begin, we would like to remind participants that the information contained in this call is current only as of today, November 6, 2025. The company assumes no obligation to update any statements, including forward-looking statements. Statements that are not historical facts are forward-looking statements and subject to the safe harbor disclaimer in today's press release.

Additionally, on this conference call, we will discuss non-GAAP measures that include or exclude items not indicative of our ongoing operations. For each non-GAAP measure, we will also provide the most directly comparable GAAP measure in today's press release, which includes

Recommended For You

Iovance Biotherapeutics, Inc. (IOVA) Q3 2025 Earnings Call November 6, 2025 8:30 AM EST

Company Participants

Sara Pellegrino - Senior Vice President of Investor Relations & Corporate Communications
Frederick Vogt - Interim CEO, President, General Counsel, Corporate Secretary & Director
Corleen Roche - Chief Financial Officer
Daniel Kirby - Chief Commercial Officer
Igor Bilinsky - Chief Operating Officer
Friedrich Graf Finckenstein - Chief Medical Officer
Raj Puri - Chief Regulatory Officer

Conference Call Participants

Lin Tsai - Jefferies LLC, Research Division
Yanan Zhu - Wells Fargo Securities, LLC, Research Division
Salim Syed
Nicholas Lorusso - TD Cowen, Research Division
Xiaochuan Dai - UBS Investment Bank, Research Division
Colleen Hanley - Robert W. Baird & Co. Incorporated, Research Division
Reni Benjamin - Citizens JMP Securities, LLC, Research Division

Presentation

Operator

Welcome to the Iovance Biotherapeutics Third Quarter and Year-to-Date 2025 Conference Call. My name is Daniel, and I will be your operator for today's call. [Operator Instructions] Please note that this conference call is being recorded.

I will now turn the call over to Sara Pellegrino, Senior Vice President, Investor Relations and Corporate Communications at Iovance. Sara, you may begin.

Sara Pellegrino
Senior Vice President of Investor Relations & Corporate Communications

Thank you, operator. Good morning, and welcome to the Iovance webcast to discuss our business achievements, pipeline milestones and third quarter 2025 results.

Members of our executive leadership team speaking on today's call include Dr. Fred Vogt, Interim CEO and President; Corleen Roche, Chief Financial Officer; Dan Kirby, Chief Commercial Officer; Dr. Igor Bilinsky, Chief Operating Officer; and Dr. Friedrich Finckenstein, Chief Medical Officer.

During the question-and-answer session, we will also welcome Dr. Raj Puri and Mark Theoret from our Regulatory Affairs executive leadership team; and Dr. Brian Gastman, Executive Vice President of Translational Medicine and Research.

This morning, we issued a press release that is available on our corporate website

Recommended For You