Market Signal Briefing

PANAMA CITY, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for October 2025:

Copa Holdings (Consolidated)October
2025October
2024% ChangeASM (mm)(1)2,803.0 2,557.4 9.6% RPM (mm)(2)2,443.6 2,235.5 9.3% Load Factor(3)87.2% 87.4% -0.2p.p.  Available seat miles - represents the aircraft seating capacity multiplied by the number of miles the seats are flown.Revenue passenger miles - represents the number of miles flown by revenue passengersLoad factor - represents the percentage of aircraft seating capacity that is utilized
For October 2025, Copa Holdings' capacity (ASMs) increased by 9.6%, while system-wide passenger traffic (RPMs) increased by 9.3% compared to 2024. As a result, the system load factor for the month was 87.2%, 0.2 percentage points lower than in October 2024.

Copa Holdings is a leading Latin American provider of passenger and cargo services. The Company, through its operating subsidiaries, provides service to countries in North, Central, and South America and the Caribbean. For more information, visit ir.copaair.com.

CPA-G

Investor Relations
[email protected]

November 12, 2025 16:30 ET

 | Source:

Okeanis Eco Tankers Corp

ATHENS, Greece, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (“OET” or the “Company”) (NYSE: ECO / OSE: OET), announced today the publication of its 4th Environmental, Social and Governance Report (the “2024 ESG Report”), which has been developed in accordance with the Global Reporting Initiative (GRI 2021 Standards) and the Sustainability Accounting Standards Board (SASB) for Marine Transportation.

The 2024 ESG Report is available on the Company’s website: https://www.okeanisecotankers.com/sustainability/esg-reports/

Contacts

Company:

Iraklis Sbarounis, CFO
Tel: +30 210 480 4200
[email protected]

Investor Relations / Media Contact:

Nicolas Bornozis, President
Capital Link, Inc.
230 Park Avenue, Suite 1540, New York, N.Y. 10169
Tel: +1 (212) 661-7566
[email protected]

About OET

OET is a leading international tanker company providing seaborne transportation of crude oil and refined products. The Company was incorporated on April 30, 2018 under the laws of the Republic of the Marshall Islands and is listed on Oslo Stock Exchange under the symbol OET and the New York Stock Exchange under the symbol ECO. The sailing fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers.

Forward Looking Statements

This communication contains “forward-looking statements”, including as defined under U.S. federal securities laws. Forward-looking statements provide the Company’s current expectations or forecasts of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “hope,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The Company’s actual results could differ materially from those anticipated in forward-looking statements for many reasons, including as described in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations; broader market impacts arising from war (or threatened war) or international hostilities; risks associated with pandemics, including effects on demand for oil and other products transported by tankers and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based. You should, however, review the factors and risks the Company describes in the reports it files and furnishes from time to time with the SEC, which can be obtained free of charge on the SEC’s website at www.sec.gov.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

NEW YORK and TORONTO, Nov. 12, 2025 (GLOBE NEWSWIRE) -- iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN, OTCID: ITHUF), which owns, operates, and partners with regulated cannabis operations across the United States, today reported its financial results for the third quarter ended September 30, 2025. The Company’s Quarterly Report on Form 10-Q (the “Quarterly Report”), which includes its unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2025 and the related management’s discussion and analysis of financial condition and results of operations, can be accessed on the Securities and Exchange Commission’s (“SEC’s”) website at www.sec.gov, on the System for Electronic Document Analysis and Retrieval's (SEDAR+) website at www.sedarplus.com, and on the Company’s website at www.iAnthus.com. The Company’s financial statements are reported in accordance with U.S. generally accepted accounting principles (“GAAP”). All currency is expressed in U.S. dollars.

Third Quarter 2025 Financial Highlights

Revenue of $35.4 million, an increase of $0.2 million from Q2 2025 and a decrease of $4.9 million from the same quarter in the prior year.Gross profit of $15.6 million, a decrease of $0.6 million from Q2 2025 and a decrease $2.5 million from the same quarter in the prior year.Gross margin of 44%, reflecting a decrease of 188 bps when compared to Q2 2025 and a decrease of 86 bps from the same quarter in the prior year.Net loss of $12.5 million, or a net loss of less than $0.00 per share, compared to a net loss of $18.7 million, or a net loss of less than $0.00 per share in Q2 2025, and compared to a net loss of $11.6 million, or a net loss of $0.00 per share, in the same quarter in the prior year.Adjusted EBITDA(1) of $2.5 million, an increase from an Adjusted EBITDA of $1.9 million in Q2 2025, and a decrease from an Adjusted EBITDA of $5.3 million from the same quarter in the prior year. EBITDA and Adjusted EBITDA are non-GAAP measures. Reconciliation tables of EBITDA and Adjusted EBITDA as used in this press release to GAAP are included below. Table 1: Financial Resultsin thousands of US$, except per share amounts (unaudited) Q3 2025 Q2 2025 Q3 2024Revenue$35,389 $35,185 $40,286 Gross profit 15,582  16,152  18,084 Gross margin 44.0% 45.9% 44.9%Net loss (12,545) (18,718) (11,642)Net loss per share (0.00) (0.00) (0.00) Table 2: Reconciliation of Net Loss to EBITDA and Adjusted EBITDA(1)in thousands of US$ (unaudited) Q3 2025 Q2 2025 Q3 2024Net loss$(12,545)$(18,718)$(11,642)Depreciation and amortization 4,637  4,599  6,116 Interest expense, net 3,738  3,534  4,351 Income tax expense(2) 3,472  4,131  5,645 EBITDA (Non-GAAP)(1)$(698)$(6,454)$4,470 Adjustments:      Write-downs, (recoveries) and other charges, net 686  1,630  (1,925)Inventory reserves and write-downs (92) 91  - Accretion expense 1,237  1,212  1,187 Share-based compensation 453  544  524 Losses from changes in fair value of financial instruments -  4  19 (Gain) loss from equity method investments (9) (5) 40 Non-recurring charges(3) 952  5,622  1,113 Other income(4) (64) (751) (82)Total Adjustments$3,163 $8,347 $876 Adjusted EBITDA (Non-GAAP)(1)$2,465 $1,893 $5,346  (1)    See “Non-GAAP Financial Information” below for more information regarding the Company’s use of non-GAAP financial measures.

(2)    Prior period amounts have been conformed to follow an accounting policy change made by the Company to aggregate interest and penalties related to accrued income taxes within "income tax expense" from within "selling, general and administrative expenses" in its unaudited interim condensed consolidated statement of operations.

(3)    Non-recurring charges includes one-time, non-recurring costs related to strategic review processes, ongoing legal disputes, severance and other non-recurring costs.

(4)    Q3 2025 reflects $0.3 million of Employee Retention Tax Credits ("ERTCs") received during the quarter, partially offset by other miscellaneous expenses. Q2 2025 reflects $0.7 million of ERTCs and AZ & NY tax refund received during the quarter. Q3 2024 reflects less than $0.1 million of accounts payable write-offs and vendor credits

Non-GAAP Financial Information

This press release includes certain non-GAAP financial measures as defined by the SEC and the Canadian Securities Administrators. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are included in the tables above. This information should be considered as supplemental in nature and not as a substitute for, or superior to, any measure of performance prepared in accordance with GAAP.

In evaluating our business, we consider and use EBITDA and Adjusted EBITDA as supplemental measures of operating performance. We define EBITDA as earnings before interest, taxes, depreciation and amortization. We define Adjusted EBITDA as EBITDA before share-based compensation, accretion expense, write-downs and impairments, gains and losses from changes in fair values of financial instruments, income or losses from equity-accounted investments, the effect of changes in accounting policy, non-recurring costs related to the Company’s Recapitalization Transaction, litigation costs related to ongoing legal proceedings, and other income. We present EBITDA because we believe it is frequently used by securities analysts, investors and other interested parties as a measure of financial performance of other similarly situated companies in our industry, and we present Adjusted EBITDA because it removes non-recurring, irregular and one-time items that we believe may distort the comparability of EBITDA from period-to-period and with other industry participants.

EBITDA and Adjusted EBITDA are not standardized financial measures defined under GAAP, and are not a measure of operating income, operating performance or liquidity presented in accordance with GAAP. EBITDA and Adjusted EBITDA have limitations as an analytical tool, and when assessing the Company’s operating performance, investors should not consider EBITDA or Adjusted EBITDA in isolation, or as a substitute for net income (loss) or other consolidated income statement data prepared in accordance with GAAP. Among other things, EBITDA and Adjusted EBITDA do not reflect the Company’s actual cash expenditures. Other companies may calculate similar measures differently than us, limiting their usefulness as comparative tools. We compensate for these limitations by relying on GAAP results and using EBITDA and Adjusted EBITDA only as supplemental information.

About iAnthus

iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States. For more information, visit www.iAnthus.com. 

Forward Looking Statements

Statements in this press release contain forward-looking statements. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in the Company’s reports that it files from time to time with the SEC and the Canadian Securities Regulators, which you should review, including, but not limited to, the Annual Report filed with the SEC. When used in this press release, words such as “will,” “could,” “plan,” “estimate”, “expect”, “intend”, “may”, “potential”, “believe”, “should” and similar expressions identify forward-looking statements.

Forward-looking statements may include, without limitation, statements relating to the Company’s financial performance, business development and results of operations.

These forward-looking statements should not be relied upon as predictions of future events, and the Company cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by the Company or any other person that the Company will achieve its objectives and plans in any specified time frame, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any obligation to publicly update or release any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.

Neither the Canadian Securities Exchange nor the U.S. Securities and Exchange Commission has reviewed, approved or disapproved the content of this press release.

FORT WASHINGTON, Pa., Nov. 12, 2025 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, will broadcast live on its website, www.TollBrothers.com, a conference call to discuss results for its fourth quarter ended October 31, 2025. The call is scheduled for 8:30 a.m. (ET) on Tuesday, December 9, 2025 and will be hosted by Douglas C. Yearley, Jr., chairman and chief executive officer. The Company will announce its fourth quarter FY 2025 results after the market close on Monday, December 8, 2025.

The call can be accessed through the Investor Relations portion of the Toll Brothers website, www.TollBrothers.com. To hear the call, enter the Toll Brothers website, then click on the Investor Relations page, and select “Events & Presentations.” The call can be heard live with an online replay which will follow.

ABOUT TOLL BROTHERS
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded 58 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, insurance, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.

Toll Brothers has been one of Fortune magazine's World’s Most Admired Companies™ for 10+ years in a row, and in 2024 the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.

Toll Brothers discloses information about its business and financial performance and other matters, and provides links to its securities filings, notices of investor events, and earnings and other news releases, on the Investor Relations section of its website (investors.TollBrothers.com).

From Fortune, ©2025 Fortune Media IP Limited. All rights reserved. Used under license.

CONTACT: Gregg Ziegler (215) 478-3820
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d8754349-52a9-4769-b6a1-edbcadd4ac1e

Wandering Creek at Brookhollow
Prosper, TX

November 12, 2025 16:30 ET

 | Source:

Eton Pharmaceuticals

DEER PARK, Ill., Nov. 12, 2025 (GLOBE NEWSWIRE) -- Eton Pharmaceuticals, Inc (“Eton” or the “Company”) (Nasdaq: ETON), an innovative pharmaceutical company focused on developing and commercializing treatments for rare diseases, today announced that members of the Company’s executive leadership team will host 1x1 meetings at the 16th Annual Craig-Hallum Alpha Select Conference being held November 18, 2025 in New York, NY.

To schedule a 1x1 meeting with the Company, please contact your Craig-Hallum institutional sales representative.

About Eton Pharmaceuticals
Eton is an innovative pharmaceutical company focused on developing and commercializing treatments for rare diseases. The Company currently has eight commercial rare disease products: KHINDIVI™, INCRELEX®, ALKINDI SPRINKLE®, GALZIN®, PKU GOLIKE®, Carglumic Acid, Betaine Anhydrous, and Nitisinone. The Company has five additional product candidates in late-stage development: ET-600, Amglidia®, ET-700, ET-800 and ZENEO® hydrocortisone autoinjector. For more information, please visit our website at www.etonpharma.com.

Investor Relations:
Lisa M. Wilson, In-Site Communications, Inc.
T: 212-452-2793
E: [email protected]

Source: Eton Pharmaceuticals.

PHOENIX, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, reported results for the third quarter and nine months ended September 30, 2025. Unless otherwise noted, all comparisons are to the corresponding period in the prior year. The company will hold a conference call at 1:00 p.m. Eastern time tomorrow to discuss the results (see dial-in information below).

Financial Highlights

Total revenue increased 8.4% to $15.5 million for the third quarter of 2025 compared to the same prior year period. For the nine months ended September 30, 2025, total revenue increased 7.0% to $42.2 million compared to the same prior year period. The change in both periods was primarily due to the recent acquisition of seven water systems from Tucson Water, organic connection growth, and higher rates.Net income decreased to $1.7 million or $0.06 per share for the third quarter of 2025 compared to the same prior year period. For the nine months ended September 30, 2025, net income decreased to $3.9 million or $0.15 per share, a decrease of $1.4 million or 26.7% compared to the same prior year period. The decrease in both periods primarily reflects the company’s capital improvement plan, which resulted in increased depreciation expense and net interest expense. Buckeye growth premiums also declined due to fewer new meter connections in the area.Adjusted EBITDA, a non-GAAP term, decreased 5.0% to $7.8 million in the third quarter of 2025 (see definition of Adjusted EBITDA and its reconciliation to GAAP, below) compared to the same prior year period. For the nine months ended September 30, 2025, Adjusted EBITDA remained consistent at $20.4 million compared to the same prior year period.Declared three monthly cash dividends of $0.02533 per common share or $0.30396 per common share on an annualized basis.Received gross proceeds of approximately $13.1 million from a private placement offering of common stock. Q3 2025 Operational Highlights

Total active service connections at September 30, 2025 increased 6.6% to 68,130 compared to the same prior year period.Annualized active service connection growth rate excluding the recent acquisition of seven water systems was 3.3%.Water consumption remained steady at 1.3 billion gallons.Invested $14.2 million in infrastructure projects to support existing utilities and continued growth.Completed the company’s previously announced acquisition of seven water systems from Tucson Water, the City of Tucson’s water utility. The assets were acquired at a value equivalent to approximately 1.05 times the current rate base of approximately $7.7 million and are expected to generate approximately $1.5 million in revenue annually. Management Commentary

“In Q3, we saw continued strong top-line growth primarily driven by new connections associated with the acquisition of seven water systems from Tucson Water, organic connection growth, and the continued implementation of new rates from prior successful rate cases in several of our smaller systems in Southern Arizona,” commented Global Water Resources President and CEO Ron Fleming. “It is exciting to close the Tucson Water transaction, not only because it is unique, but because it solidifies our Southern Arizona plan allowing for future consolidation of operations and rates across a broad customer base.”

“Another major development for our company occurred in Q3. In late September, we saw Arizona’s new ‘Ag-to-Urban’ program go into effect, with the Arizona Department of Water Resources (ADWR) actively accepting applications from landowners. The program allows landowners who cease agricultural operations to convert their water rights for use in new development.

“When you combine this with the previously announced Highway 347 widening project that is now officially in motion, we remain optimistic about strong growth both in the short term and long term.

“We also believe that Arizona's positive economic outlook has the potential to support the continued growth of our organic connections. According to Arizona’s Office of Economic Opportunity, employment is expected to rise by 486,000 jobs through 2033—an annual growth rate of 1.3%, which is more than three times the national average of 0.4%.

“As it relates to our current rate proceeding, we are in the middle of the testimony process for our GW-Santa Cruz and GW-Palo Verde utilities. Our recent rebuttal testimony was filed on November 6, supporting a requested net revenue increase of approximately $4.3 million. The next steps include the parties filing their surrebuttal testimony on December 1, a final round of GW-Santa Cruz/GW-Palo Verde testimony on December 10, with the hearing commencing on December 15. After the hearing, the matter is then evaluated by an Administrative Law Judge who writes a Recommend Opinion and Order for the Commission’s consideration. We still expect the case to conclude in the middle of 2026.

“We remain confident in our ability over time to deliver a strong total return to our shareholders while delivering safe, reliable service and balancing customer affordability as we navigate rate cases, especially when considering all the highlights reported in this earnings release. Rate cases are typically lengthy and uncertain processes, and we cannot make any guarantees in terms of timing or outcome.

“Looking ahead, we will focus on further extending the benefits of consolidation, regionalization, and proactive environmental management to the communities we serve. By executing our rate case strategy alongside our anticipation of ongoing organic growth, we believe we are well positioned for continued success over the long-term.”

Financial Summary for the Three Months Ended September 30, 2025 and 2024

Revenue

 Three Months EndedFavorable (Unfavorable) September 30,2025 vs. 2024  2025 2024 %Water service$8,481$7,493$98813.2%Wastewater and recycled water service 7,038 6,828 2103.1%Total revenue$15,519$14,321$1,1988.4%          The increase in revenue for the three months ended September 30, 2025 was primarily attributable to the acquisition of seven water systems from the City of Tucson in July 2025, organic growth in active water and wastewater connections, higher rates for Global Water - Farmers Water Company, Inc. (GW-Farmers) resulting from the GW-Farmers general rate case, effective May 1, 2025, and higher rates for Global Water - Saguaro District Water Company, Inc. (GW-Saguaro), resulting from the GW-Saguaro general rate case, effective January 1, 2025. The increase in wastewater and recycled water service revenue was partially offset by an increase of $0.1 million in bill credits related to the company's Southwest Plant, which were effective beginning August 2024.

Operating Expenses

 Three Months EndedFavorable (Unfavorable) September 30,2025 vs. 2024  2025 2024$%Personnel costs - operations and maintenance$1,436$1,099$(337)        (30.7)%Utilities, chemicals and repairs 1,229 1,153 (76)        (6.6)%Other operations and maintenance expenses 1,458 1,192 (266)        (22.3)%Total operations and maintenance expense 4,123 3,444 (679)        (19.7)%Personnel costs - general and administrative 2,470 2,100 (370)        (17.6)%Professional fees 525 381 (144)        (37.8)%Other general and administrative expenses 1,924 1,479 (445)        (30.1)%Total general and administrative expense 4,919 3,960 (959)        (24.2)%Depreciation and amortization 3,555 2,933 (622)        (21.2)%Total operating expenses$12,597$10,337$(2,260)        (21.9)%          Operations and Maintenance

Higher personnel costs were primarily attributable to increased salaries and wages as a result of filling previously vacant positions and hiring additional employees for the newly acquired water systems from the City of Tucson, as well as increased medical costs.

The increase in other operations and maintenance expenses was primarily driven by expenses related to a storm event with heavy, short duration precipitation.

General and Administrative

Higher personnel costs were primarily driven by increased medical costs.

The increase in professional fees was largely attributable to higher legal fees associated with the Nikola bankruptcy.

The increase in other general and administrative expenses was primarily attributable to higher costs associated with IT services, increased office rent, and higher general liability insurance costs.

Depreciation and Amortization

The increase for the three months ended September 30, 2025 as compared to the three months ended September 30, 2024 was substantially attributable to an increase in depreciable fixed assets.

Total Other Income (Expense)

Other expense totaled $0.6 million for the three months ended September 30, 2025, compared to an immaterial other income for the same period in 2024. The increase in other expense was substantially attributable to a $0.2 million decrease in interest income and lower income associated with Buckeye growth premiums of $0.3 million that resulted from a decrease in new meter connections in the area for the three months ended September 30, 2025 compared to the same period in 2024.

Net Income

Net income decreased $1.2 million or 41.3% to $1.7 million or $0.06 per share in the third quarter of 2025, compared to net income of $2.9 million or $0.12 per share in the third quarter of 2024.

Adjusted EBITDA

Adjusted EBITDA decreased $0.4 million or 5.0% to $7.8 million in the third quarter of 2025, compared to $8.2 million in the same period in 2024.

Financial Summary for the Nine Months Ended September 30, 2025 and 2024

Revenue

 Nine Months EndedFavorable (Unfavorable) September 30,2025 vs. 2024  2025 2024 %Water service$21,829$19,387$2,44212.6%Wastewater and recycled water service 20,388 20,054 3341.7%Total revenue$42,217$39,441$2,7767.0%          The increase in revenue for the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024 was primarily attributable to the organic growth in active water and wastewater connections, the acquisition of seven water systems from the City of Tucson in July 2025, increased water consumption, higher rates for GW-Saguaro, resulting from the GW-Saguaro general rate case, effective July 2024 and January 2025, and higher rates for GW-Farmers, resulting from the GW-Farmers general rate case, effective May 1, 2025. The increased consumption was predominantly driven by the increase in active connections and higher usage from irrigation, construction and commercial customers. The increase in wastewater and recycled water service revenue was partially offset by an increase of $0.4 million in bill credits related to the company's Southwest Plant, which were effective beginning August 2024.

Operating Expenses

 Nine Months EndedFavorable (Unfavorable) September 30,2025 vs. 2024  2025 2024$%Personnel costs - operations and maintenance$4,132$3,576$(556)        (15.5)%Utilities, chemicals and repairs 3,444 3,028 (416)        (13.7)%Other operations and maintenance expenses 4,151 3,609 (542)        (15.0)%Total operations and maintenance expense 11,727 10,213 (1,514)        (14.8)%Personnel costs - general and administrative 6,901 6,486 (415)        (6.4)%Professional fees 1,433 1,314 (119)        (9.1)%Other general and administrative expenses 5,159 4,517 (642)        (14.2)%Total general and administrative expense 13,493 12,317 (1,176)        (9.5)%Depreciation and amortization 10,200 8,863 (1,337)        (15.1)%Total operating expenses$35,420$31,393$(4,027)        (12.8)%          Operations and Maintenance

Higher personnel costs were primarily attributable to increased salaries and wages as a result of filling previously vacant positions and hiring additional employees for the newly acquired water systems from the City of Tucson, as well as increased medical costs.

Higher utilities, chemicals and repairs were primarily the result of an increase in power purchased to operate pumps and other related equipment as a result of increased consumption, additional processing equipment in operation and utility rate increases. In addition, increased consumption was the primary driver of an increase in chemical costs.

The increase in other operations and maintenance expenses was primarily driven by expenses related to a storm event with heavy, short duration precipitation, additional contracts with IT service providers, and an increase in rent expense as a result of a new office lease in Pima County in December 2024.

General and Administrative

Higher personnel costs were primarily attributable to increased salaries and wages as a result of filling previously vacant positions, as well as increased medical costs.

The increase in other general and administrative expenses was primarily attributable to higher costs associated with various service providers, increased costs related to municipality licensing-type agreements, higher general liability insurance costs, and increased office rent expense.

Depreciation and Amortization

The increase for the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024 was substantially attributable to a 11.3% increase in depreciable fixed assets.

Total Other Expense

Other expense totaled $1.4 million for the nine months ended September 30, 2025, compared to $0.8 million for the same period in 2024. The increase in total other expense was substantially attributable to a $0.4 million decrease in interest income, partially offset by higher allowance for equity funds used during construction of $0.2 million, as well as lower income associated with Buckeye growth premiums of $0.3 million that resulted from fewer new meter connections in the area for the nine months ended September 30, 2025 compared to the same period in 2024.

Net Income

Net income decreased $1.4 million or 26.7% to $3.9 million or $0.15 per share in the nine months ended September 30, 2025, compared to net income of $5.3 million or $0.22 per share in the same period in 2024.

Adjusted EBITDA

Adjusted EBITDA remained consistent at $20.4 million for the nine months ended September 30, 2025, and 2024.

Dividend Policy

The company recently declared a monthly cash dividend of $0.02533 per common share (or $0.30396 per share on an annualized basis), payable on November 26, 2025, to holders of record at the close of business on November 12, 2025.

Business Strategy

Global Water's near-term growth strategy involves increasing service connections, improving operating efficiencies, and increasing utility rates as approved by the ACC. The company plans to continue aggregating water and wastewater utilities through strategic acquisitions and entity consolidation, which is expected to enable the company and its customers to realize the benefits of consolidation, regionalization, and environmental stewardship.

Connection Rates

As of September 30, 2025, active service connections increased by 4,241 or 6.6% to 68,130 compared to 63,889 at September 30, 2024. The increase in active service connections was primarily due to new connections associated with the seven acquired water systems from Tucson Water and organic growth in the company’s service areas.

Arizona’s Growth Corridor: Positive Population and Economic Trends

The company continues to experience organic growth exhibited through its year-over-year organic increase in active connections (i.e., exclusive of acquisition related growth) of 3.5% as of September 30, 2025. According to the 2024 U.S. Census estimates, the Phoenix metropolitan statistical area (MSA) is the 10th largest MSA in the U.S. and had an estimated population of 5.2 million, an increase of 7.0% over the 4.8 million people reported in the 2020 Census. Growth in the Phoenix MSA continues as a result of its excellent weather, large and growing universities, a diverse employment base, and low taxes. The Employment and Population Statistics Department of the State of Arizona predicts that the Phoenix metropolitan area will have a population of 5.8 million people by 2030 and 6.5 million by 2040.

The company’s organic growth continues to be primarily influenced by the comparatively lower cost of housing in the City of Maricopa relative to other areas within the Phoenix MSA. As of September 2025, the median home sales price in the City of Maricopa was 26% lower than in the City of Phoenix. The company continues to monitor potential effects on its operations due to changes in the macroeconomic environment, such as the impacts of tariffs on its operational costs and construction work in progress, as well as new home construction in the company’s service areas. The company continues to expect a positive long-term outlook based on forecasted performance of job growth and construction in the Phoenix MSA housing market.

Although recent permit activity has generally declined year-over-year primarily as a result of macroeconomic headwinds and uncertainty surrounding tariffs and interest rates, management expects these pressures to be temporary. Management believes the company remains well-positioned to benefit from the anticipated long-term growth of the Phoenix MSA, supported by ample lot availability and strong existing infrastructure in its service areas.

Conference Call
Global Water Resources will hold a conference call tomorrow to discuss its third quarter of 2025 results, including a question-and-answer period.

Date: Thursday, November 13, 2025
Time: 1:00 p.m. Eastern time (11:00 a.m. local time)
Toll-free dial-in number: 1-833-816-1435
International dial-in number: 1-412-317-0527
Conference ID: 10203714
Webcast (live and replay): here

The conference call webcast is also available via a link in the Investors section of the company’s website at www.gwresources.com. 

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you require any assistance connecting to the call, please contact Encore at 1-949-432-7450.

A replay of the call will be available after 4:00 p.m. Eastern time on the same day through November 27, 2025.

Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 10203714

About Global Water Resources

Global Water Resources, Inc. is a leading water resource management company that owns and operates 39 systems which provide water, wastewater, and recycled water service. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix and Tucson. Global Water recycles over 1 billion gallons of water annually with 18.9 billion gallons recycled since 2004.

The company has been recognized for its highly effective implementation of Total Water Management (TWM). TWM is an integrated approach to managing the entire water cycle that involves owning and operating water, wastewater and recycled water utilities within the same geographic area in order to maximize the beneficial use of recycled water. It enables smart water management programs such as remote metering infrastructure and other advanced technologies, rate designs, and incentives that result in real conservation. TWM helps protect water supplies in water-scarce areas experiencing population growth.

Global Water has received numerous industry awards, including national recognition as a ‘Utility of the Future Today’ for its superior water reuse practices by a national consortium of water and conservation organizations led by the Water Environment Federation (WEF). The company also received Cityworks’ Excellence in Departmental Practice Award for demonstrating leadership and creativity in applying public asset management strategies to daily operations and long-term planning.

To learn more, visit www.gwresources.com. 

Use of Non-GAAP Measures

This press release contains certain financial measures that are not recognized measures under accounting principles generally accepted in the United States of America (“GAAP”), including EBITDA, adjusted EBITDA, adjusted net income, and adjusted diluted earnings per common share. EBITDA is defined for the purposes of this press release as net income before interest, income taxes, depreciation, and amortization. Adjusted EBITDA is defined as EBITDA excluding the gain or loss related to (i) nonrecurring events; (ii) restricted stock expense related to awards made to employees and the board of directors; and (iii) disposal of assets, as applicable. Adjusted net income and adjusted diluted earnings per common share reflect net income and diluted earnings per common share excluding (i) expenses related to severe weather events; and (ii) the tax effect of this item, as applicable.

Management believes that EBITDA, adjusted EBITDA, adjusted net income, and adjusted diluted earnings per common share are useful supplemental measures of our operating performance and provide our investors meaningful measures of overall corporate performance. EBITDA is also presented because management believes that it is frequently used by investment analysts, investors, and other interested parties as a measure of financial performance. Adjusted EBITDA, adjusted net income, and adjusted diluted earnings per common share are also presented because management believes that they provide our investors additional measures of our recurring core business. However, non-GAAP measures do not have a standardized meaning prescribed by GAAP, and investors are cautioned that non-GAAP measures, such as EBITDA, adjusted EBITDA, adjusted net income, and adjusted diluted earnings per common share, should not be construed as an alternative to net income or loss, diluted earnings per common share, or other income statement data (which are determined in accordance with GAAP) as an indicator of our performance or as a measure of liquidity and cash flows. Management's method of calculating EBITDA, adjusted EBITDA, adjusted net income, and adjusted diluted earnings per common share may differ materially from the method used by other companies and accordingly, may not be comparable to similarly titled measures used by other companies. A reconciliation of EBITDA, adjusted EBITDA, and adjusted net income to net income, and a reconciliation of adjusted diluted earnings per common share to diluted earnings per common share, the most comparable GAAP measures, are included in the schedules attached to this press release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release and the related conference call include certain forward-looking statements which reflect the company's expectations regarding future events. The forward-looking statements involve a number of assumptions, risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements include, but are not limited to, statements about our strategies; expectations about future business plans, prospective performance, growth, and opportunities, including expected growth in and around metropolitan Phoenix and Tucson and the resulting potential for new service connections; future financial performance; regulatory and ACC proceedings, decisions, and approvals, such as the anticipated benefits resulting from rate decisions, including any collective revenue increases due to new water and wastewater rates, as well as the outcome, timing and other statements regarding our plans, expectations and estimates relating to our rate cases and other applications with the ACC; our plans relating to future filings of our rate cases with the ACC; acquisition plans and strategies, including our ability to complete additional acquisitions, and our expectations about future benefits of our acquisitions, such as projected revenue from such acquisitions, as well as our plans relating to the integration and upgrade of acquired water systems; statements concerning Arizona’s Assured Water Supply “Ag-to-Urban” program and ADOT’s SR 347 widening project, including anticipated benefits; population and growth projections; technologies, including expected benefits from implementing such technologies; revenues; metrics; operating expenses; trends relating to our industry, market, population and job growth, and housing permits; the adequacy of our water supply to service our current demand and growth for the foreseeable future; liquidity and capital resources; plans and expectations for capital expenditures; cash flows and uses of cash; dividends; depreciation and amortization; tax payments; our ability to repay indebtedness and invest in initiatives; the anticipated impact and resolutions of legal matters; the anticipated impact of new or proposed laws, including regulatory requirements, tax changes, and judicial decisions; the anticipated impact of accounting changes and other pronouncements; and other statements that are not historical facts, as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", or the negative of these terms, or other words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to a number of risks, uncertainties, and assumptions, most of which are difficult to predict and many of which are beyond our control. Actual results may differ materially from these expectations due to changes in political, economic, business, market, regulatory, and other factors. Factors that may also affect future results are disclosed under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our filings with the Securities and Exchange Commission (the "SEC"), which are available at the SEC's website at www.sec.gov. This includes, but is not limited to, our most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings with the SEC. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements, which reflect management’s views as of the date hereof. We undertake no obligation to publicly update any forward-looking statement, except as required by law, whether as a result of new information, future developments or otherwise.

Company Contact:
Michael J. Liebman
CFO and SVP
Tel (480) 999-5104
Email Contact
Investor Relations:
Ron Both or Grant Stude
Encore Investor Relations
Tel (949) 432-7450
Email Contact
   GLOBAL WATER RESOURCES, INC.
Condensed Consolidated Balance Sheets (unaudited)
(in thousands, except share and per share amounts)
    September 30, 2025December 31, 2024Assets  Utility Plant$591,887 $512,993 Less accumulated depreciation (164,417) (153,614)Net utility plant 427,470  359,379 Current Assets  Cash and cash equivalents 15,255  9,047 Accounts receivable, net of allowance for credit losses of $178 and $163, respectively 3,768  3,233 Unbilled revenue 3,665  3,109 Taxes, prepaid expenses and other current assets 2,348  4,080 Total current assets 25,036  19,469 Other Assets  Goodwill 6,511  9,486 Intangible assets, net 8,475  8,427 Regulatory assets 7,029  4,032 Restricted cash 2,320  2,109 Right-of-use assets, net 3,693  2,157 Other noncurrent assets 118  78 Total other assets 28,146  26,289 Total Assets$480,652 $405,137 Capitalization and Liabilities  Capitalization  Common stock, $0.01 par value, 60,000,000 shares authorized; 29,108,718 and 24,570,994 shares issued, respectively$286 $240 Treasury stock, 358,453 and 344,978 shares, respectively (2) (2)Additional paid-in capital 89,341  47,366 Retained earnings —  — Total shareholders’ equity 89,625  47,604 Long-term debt, net 116,797  118,518 Total Capitalization 206,422  166,122 Current Liabilities  Accounts payable 933  2,051 Customer and meter deposits 1,649  1,609 Long-term debt, current portion 3,939  3,926 Leases, current portion 793  871 Accrued expenses and other current liabilities 13,891  13,801 Total current liabilities 21,205  22,258 Other Liabilities  Revolver borrowings 6,850  — Long-term lease liabilities 3,565  1,450 Deferred revenue - ICFA 22,527  21,517 Regulatory liabilities 5,353  5,386 Advances in aid of construction 153,507  126,467 Contributions in aid of construction, net 38,359  36,834 Deferred income tax liabilities, net 9,993  9,698 Other noncurrent liabilities 12,871  15,405 Total other liabilities 253,025  216,757 Total Capitalization and Liabilities$480,652 $405,137         GLOBAL WATER RESOURCES, INC.
Condensed Consolidated Statements of Operations (unaudited)
(in thousands, except share and per share amounts)
    Three Months Ended
September 30,Nine Months Ended
September 30,  2025  2024  2025  2024 Revenue    Water service$8,481 $7,493 $21,829 $19,387 Wastewater and recycled water service 7,038  6,828  20,388  20,054 Total revenue 15,519  14,321  42,217  39,441 Operating Expenses    Operations and maintenance 4,123  3,444  11,727  10,213 General and administrative 4,919  3,960  13,493  12,317 Depreciation and amortization 3,555  2,933  10,200  8,863 Total operating expenses 12,597  10,337  35,420  31,393 Operating Income 2,922  3,984  6,797  8,048 Other Income (Expense)    Interest income 45  240  360  744 Interest expense (1,490) (1,504) (4,464) (4,577)Other, net 880  1,266  2,667  3,040 Total other income (expense) (565) 2  (1,437) (793)Income Before Income Taxes 2,357  3,986  5,360  7,255 Income Tax Expense (640) (1,061) (1,440) (1,909)Net Income$1,717 $2,925 $3,920 $5,346      Basic earnings per common share$0.06 $0.12 $0.15 $0.22 Diluted earnings per common share$0.06 $0.12 $0.15 $0.22 Dividends declared per common share$0.08 $0.08 $0.23 $0.23      Weighted average number of common shares used in the determination of:    Basic 27,475,956  24,219,564  26,447,769  24,198,270 Diluted 27,508,451  24,302,521  26,500,207  24,301,974               GLOBAL WATER RESOURCES, INC.
Condensed Consolidated Statements of Cash Flows (unaudited)
(in thousands)
   Nine Months Ended September 30,  2025  2024 Cash Flows from Operating Activities:  Net income$3,920 $5,346 Adjustments to reconcile net income to net cash provided by operating activities:  Depreciation and amortization 10,200  8,863 Share-based compensation 715  873 Deferred income tax expense 417  1,838 AFUDC-Equity (839) (682)Operating lease expense 287  298 Other adjustments 162  6 Changes in assets and liabilities  Accounts receivable and other current assets 712  (1,387)Accounts payable and other current liabilities 1,987  705 Other noncurrent assets (18) 38 Other noncurrent liabilities (67) (102)Net cash provided by operating activities 17,476  15,796 Cash Flows from Investing Activities:  Capital expenditures (49,629) (19,171)Cash paid for acquisitions, net of cash acquired (8,098) — Net cash used in investing activities (57,727) (19,171)Cash Flows from Financing Activities:  Dividends paid (6,016) (5,462)Advances and contributions in aid of construction 5,542  10,455 Refunds of advances for construction (1,327) (1,256)Repayments of notes payable (1,993) (1,952)Revolver borrowings 7,200  — Revolver repayments (350) (2,315)Loan borrowings 222  22,137 Issuance of common stock, net of issuance costs 44,130  — Financing costs of debt and equity transactions (299) (418)Other financing activities (439) (499)Net cash provided by financing activities 46,670  20,690 Increase in cash, cash equivalents, and restricted cash 6,419  17,315 Cash, cash equivalents, and restricted cash — Beginning of period 11,156  4,763 Cash, cash equivalents, and restricted cash — End of period$17,575 $22,078         Supplemental disclosure of cash flow information:

 Nine months ended September 30,  2025 2024Cash and cash equivalents$15,255$18,145Restricted cash 2,320 3,933Total cash, cash equivalents, and restricted cash$17,575$22,078      A reconciliation of net income to EBITDA and Adjusted EBITDA for the three and nine months ended September 30, 2025 and 2024 is as follows (in thousands):

 Three Months Ended
September 30,Nine Months Ended
September 30,  2025  2024  2025  2024 Net Income$1,717 $2,925 $3,920 $5,346 Income tax expense 640  1,061  1,440  1,909 Interest income (45) (240) (360) (744)Interest expense 1,490  1,504  4,464  4,577 Depreciation and amortization 3,555  2,933  10,200  8,863 EBITDA 7,357  8,183  19,664  19,951 Gain on disposal of fixed assets —  12  —  (5)Restricted stock expense 256  123  526  606 Acquisition gain resulting from regulatory decision —  —  —  (37)Gain on adjustment of contingent consideration liability —  (119) —  (119)Storm-related expenses1 172  —  172  — EBITDA adjustments 428  16  698  445 Adjusted EBITDA$7,785 $8,199 $20,362 $20,396               A reconciliation of net income to adjusted net income for the three and nine months ended September 30, 2025 and 2024 is as follows (in thousands, except share and per share amounts):

 Three Months Ended
September 30,Nine Months Ended
September 30,  2025  2024 2025  2024 Net Income$1,717 $2,925$3,920 $5,346 ICFA intangible amortization expense —  — —  81 Gain on adjustment of contingent consideration liability —  — —  (119)Storm-related expenses1 172  — 172  — Income tax effect of items above (43) — (43) 10 Adjusted Net Income$1,846 $2,925$4,049 $5,318      Diluted weighted average common shares 27,508,451  24,302,521 26,500,207  24,301,974      Diluted earnings per common share$0.06 $0.12$0.15 $0.22 Adjustments to diluted earnings per common share 0.01  — —  — Adjusted diluted earnings per common share$0.07 $0.12$0.15 $0.22              1Represents one-time expenses related to severe weather events, most of which we seek to recover from responsible third parties.

, /PRNewswire/ -- Nature's Miracle Holding Inc. (OTCQB:NMHI), today announced a strategic partnership and capital deployment agreement with Doppler Finance, the leading institutional-grade XRP yield platform for a phased $20 million XRP treasury deployment into Doppler's yield infrastructure.

Under the agreement, Nature's Miracle will allocate capital in structured tranches through Doppler's platform, beginning with an initial $5 million pilot deployment. Subsequent tranches will follow upon successful validation milestones, bringing the total commitment up to $20 million. The collaboration aims to optimize treasury performance through compliant, custody-integrated yield strategies built on the XRP Ledger.

Doppler Finance operates a fully verified, institutional-grade yield infrastructure featuring regulated custody, real-time reserve verification, and segregated account structures. The platform currently manages around $100 million in total value locked (TVL) as of October 2025, offering secure yield products for non-staking assets such as XRP and RLUSD. Doppler Finance has recently announced an integration with platforms like Bitget, further solidifying its position as the leading platform in the XRPfi ecosystem.

Through this partnership, Doppler will provide structured yield programs to enhance capital efficiency and transparency for Nature's Miracle's XRP holdings. Both parties will establish a Steering Committee to oversee tranche deployments, performance reviews, and compliance alignment throughout the agreement's 24-month term.

James Li, CEO of Nature's Miracle, commented: "Our collaboration with Doppler Finance reflects our confidence in XRP's role as a yield-generating asset class. This partnership allows us to strategically deploy capital through an infrastructure that meets the highest institutional standards for custody and verification."

Rox, Head of Institutions of Doppler Finance, added: "We're honored to partner with Nature's Miracle in pioneering structured XRP treasury deployments. This marks an important milestone in institutional adoption of XRPfi, demonstrating the real-world utility of compliant, proof-of-reserve yield infrastructure."

The partnership underscores growing institutional interest in XRP-denominated yield products, setting a new precedent for transparent and structured capital deployment frameworks in the XRPfi ecosystem.

About Doppler Finance

Doppler Finance is leading XRPfi by introducing an institutional-grade yield infrastructure natively built on XRP Ledger. Our stack combines regulated custody, fully audited reserves, and strictly vetted yield strategies designed for safety and scale. We believe XRP should earn yield like any major asset, and we're making that a reality, with unmatched clarity, control, and credibility.

LinkedIn  | X | Discord | Website | Docs

About Nature's Miracle Holding Inc.

Nature's Miracle (OTCQB: NMHI) is a U.S.-based smart agriculture technology company providing turnkey vertical farming systems and controlled-environment solutions. The company integrates AI-driven monitoring, automation, and sustainable agriculture technologies to enhance yield efficiency and environmental impact across global markets.

Forward Looking Statement

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and other securities laws. Words such as "expect," "will," "anticipates," "continues" and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. Such forward-looking statements, including statements herein regarding our business opportunities and prospects, strategy, future revenue expectations, licensing initiatives, patent initiatives as well as the successful implementation of the patented technologies, are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of various risks and uncertainties including, but not limited to, the following: our ability to successfully utilize all intellectual property that has been issued and granted Notices of Allowance; risks regarding our ability to utilize the assets we acquire to successfully grow our market share; risks regarding our ability to open up new revenue streams as a result of the various patents mentioned in this press release; our current liquidity position and the need to obtain additional financing to support ongoing operations; general market, economic and other conditions; our ability to continue as a going concern; our ability to maintain the listing of our common stock on Nasdaq; our ability to manage costs and execute on our operational and budget plans; our ability to achieve our financial goals; the degree to which our licensees implement our technologies into their products, if at all; the timeline to any such implementation; risks related to technology innovation and intellectual property, and other risks as more fully described in our filings with the U.S. Securities and Exchange Commission. The information in this press release is provided only as of the date of this press release, and we undertake no obligation to update any forward-looking statements contained in this communication based on new information, future events, or otherwise, except as required by law.

SOURCE Nature's Miracle Holding Inc

, /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) announced today that its Board of Directors has declared a quarterly cash dividend of $0.17 per share on the company's common shares. The dividend will be payable December 23, 2025, to shareholders of record at the close of business on December 10, 2025.

About CNO Financial Group
CNO Financial Group, Inc. (NYSE: CNO) secures the future of middle-income America. CNO provides life and health insurance, annuities, financial services and workforce benefits solutions through our family of brands, including Bankers Life, Colonial Penn, Optavise and Washington National. Our customers work hard to save for the future, and we help protect their health, income and retirement needs with 3.3 million policies and $38.3 billion in total assets. Our 3,300 associates, 4,900 exclusive agents and more than 6,500 independent partner agents guide individuals, families and businesses through a lifetime of financial decisions. For more information, visit CNOinc.com.

SOURCE CNO Financial Group

Also from this source

By

PYMNTS
 | 
November 12, 2025

 | 

Airbnb is reportedly testing a service that lets guests order groceries from Instacart.

The house-sharing company will offer “kitchen stocking” as part of a three-month pilot program starting Jan. 5, Bloomberg News reported Wednesday (Nov. 12), citing an email sent to some Airbnb hosts.

During this period, Airbnb will pay hosts $25 for every completed order — as well as a $100 bonus for their first order — if they receive guests’ preorders and stock their kitchens before they check in.

The program is open to select hosts with available listings in Phoenix, Orlando and Los Angeles, the report added. Guests will be allowed to place an Instacart order within the Airbnb app up to three weeks before their stay, an Instacart spokesperson told Bloomberg.

The report also cited a comment from an Airbnb spokesperson that the company is “regularly testing new product updates, categories and initiatives, in order to provide the best possible experience for our community.”

As Bloomberg noted, integration with Airbnb marks the latest “embedded partnership” that Instacart has launched in recent weeks, as the company looks to boost orders and strengthen customer loyalty in the face of growing competition from DoorDash and Uber.

Advertisement: Scroll to Continue

For example, the company recently teamed with Grubhub, letting that platform’s customers order goods from Instacart’s network of grocery stores and pharmacies within the Grubhub app or website.

The partnership is also happening at a time when the “appetite for digital grocery shopping continues to grow,” as PYMNTS wrote earlier this week after Instacart reported earnings for the third quarter of the year.

Those results showed strong gains in orders and transaction volumes, underlining the durability of its delivery model and its changing role as a technology partner for the grocery sector.

The company’s orders rose 14% year over year to 83.4 million, while gross transaction value (GTV) increased 10% to $9.2 billion, Instacart said in a letter to shareholders. Revenue came to $939 million, slightly above Wall Street forecasts, as Instacart’s core marketplace continued to draw more frequent and bigger baskets from returning shoppers.

Instacart CEO Chris Rogers said in the letter that the company’s scale and technology investments are reinforcing its position as a “technology and enablement partner for the grocery industry,” extending beyond delivery.

Rogers told analysts during a conference call that consumer demand was still resilient, with Instacart enticing new shoppers while retaining existing customers at higher rates.

374Water Inc (NASDAQ:SCWO) said on Wednesday it expects revenue to rise to between $6 million and $8 million in 2026 as the company accelerates commercialization of its Super Critical Water Oxidation (SCWO) technology and expands partnerships across North America.

The company, a developer of sustainable waste destruction systems, reported third-quarter revenue of $760,000, up sharply from $81,000 a year earlier, driven by new service contracts and growing demand for PFAS waste treatment.

Interim CEO Stephen Jones said 374Water’s recent projects demonstrate the commercial readiness of its AirSCWO technology, which destroys per- and polyfluoroalkyl substances (PFAS) — so-called “forever chemicals” — from industrial and municipal waste streams.

“Looking ahead, we are focused on successful waste destruction of PFAS and other waste streams utilizing our AirSCWO system at current project deployments and accelerating the conversion of a growing pipeline of opportunities,” Jones said.

The company highlighted several recent milestones, including the completion of a Department of Defense-backed PFAS destruction project at Clean Earth’s Detroit facility, and a collaboration with Crystal Clean, a leading environmental services provider, to scale its Waste Destruction Services (WDS) business. The partnership is expected to support multiple new WDS operations at treatment and disposal facilities across North America.

374Water also secured an order from the City of Olathe, Kansas, to install an AirSCWO 6 system for sustainable wastewater treatment and began a state-funded project in North Carolina to destroy aqueous film-forming foam (AFFF).

To support expansion, 374Water raised about $7 million through its at-the-market facility, extending its cash runway into the second quarter of 2026.

“Our goal is to establish recurring revenue streams through our WDS business and expand our footprint across key market verticals,” Jones added.

The company reaffirmed its 2025 full-year revenue projection of about $4 million and said it remains focused on advancing SCWO as a scalable, sustainable solution for PFAS and other complex waste challenges.

November 12, 2025 16:35 ET

 | Source:

Sysco Corporation

HOUSTON, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced that the Board of Directors declared a quarterly cash dividend of $0.54 per share, payable on January 23, 2026, to common stockholders of record at the close of business on January 2, 2026.

About Sysco

Sysco is the global leader in selling, marketing and distributing food and related products to customers who prepare meals away from home. This includes restaurants, healthcare and educational facilities, lodging establishments, entertainment venues, and more. Sysco operates 337 distribution centers, in 10 countries, with 75,000 colleagues serving approximately 730,000 customer locations. The company generated sales of more than $81 billion in fiscal year 2025 that ended June 28, 2025.

As the world’s largest food-away-from-home distributor, Sysco offers customized supply chain solutions, bespoke specialty product offerings, and culinary support to drive customers to innovate and optimize their operations. We act as a trusted business partner to our customers, helping them grow through our industry-leading portfolio that includes fresh produce, premium proteins, specialty products, sustainably focused items, equipment and supplies, and innovative culinary solutions.

For more information, visit www.sysco.com. For important news and key information for Sysco investors, visit the Investor Relations section of the company’s website at investors.sysco.com.

For more information contact:   Kevin Kim
Investor Contact
[email protected]
T 281-584-1219Cassandra Mauel
Media Contact
[email protected]
T 281-584-1390
SYY-INVESTORS

RYE, N.Y., Nov. 12, 2025 (GLOBE NEWSWIRE) -- The Board of Trustees of The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) (the “Fund”) approved an increase in the annualized distribution to $0.84 per share, which will be paid $0.21 per share quarterly, commencing with the quarterly distribution payable on December 19, 2025 to common shareholders of record on December 12, 2025. The increase follows on the strength of the Fund’s market total return of 25% year to date.

The Fund intends to pay a quarterly distribution of an amount determined each quarter by the Board of Trustees. In addition to the quarterly distributions, and in accordance with the minimum distribution requirements of the Internal Revenue Code for regulated investment companies, the Fund may pay an adjusting distribution in December which includes any additional income and net realized capital gains in excess of the quarterly distributions for that year.

Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the current financial market environment. The Fund’s distribution policy is subject to modification by the Board of Trustees at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject to the maximum federal income tax rate for long term capital gains, which is currently 20% in taxable accounts for individuals (or less depending on an individual’s tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and whose income exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their "net investment income", which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.

If the Fund does not generate sufficient earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund’s earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder’s original investment, it is generally not taxable and would be treated as a reduction in the shareholder’s cost basis.

Long-term capital gains, qualified dividend income, investment company taxable income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2025 would include approximately 24% from net investment income, 38% from net capital gains and 38% would be deemed a return of capital on a book basis. This does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2025 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2025 distributions in early 2026 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:

Bethany Uhlein
(914) 921-5546

About The Gabelli Global Small and Mid Cap Value Trust
The Gabelli Global Small and Mid Cap Value Trust is a diversified, closed-end management investment company with $169 million in total net assets whose primary investment objective is to achieve long-term capital growth of capital. Under normal market conditions, the Fund will invest at least 80% of its total assets in equity securities (such as common stock and preferred stock) of companies with small or medium sized market capitalizations. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

NYSE – GGZ
CUSIP – 36249W104

Investor Relations Contact:
Bethany Uhlein
(914) 921-5546
[email protected]

GRAND RAPIDS, Mich.--(BUSINESS WIRE)--Edge is thrilled to announce that EvoTrim™, its high-performance engineered wood trim, has been named a Good Housekeeping 2026 Home Reno Awards winner in the Exterior Enhancements category. “Being recognized in Good Housekeeping's 2026 Home Renovation Awards validates what we've been hearing in the field: that EvoTrim delivers the reliability and finish needed to get the job done right,” said Dom Beaulieu, Managing Director at Edge. Designed for durability.

Q3: 2025-11-12 Earnings SummaryEPS of $0.54 beats by $0.20

 |

Revenue of

$994.48M

(37.96% Y/Y)

beats by $45.19M

On Holding AG (ONON) Q3 2025 Earnings Call November 12, 2025 8:00 AM EST

Company Participants

Caspar Coppetti - Co-Founder & Executive Co-Chairman
Martin Hoffmann - CEO & CFO

Conference Call Participants

Paul Lejuez - Citigroup Inc., Research Division
Jay Sole - UBS Investment Bank, Research Division
Alexandra Straton - Morgan Stanley, Research Division
Krista Kerr Zuber
Samuel Poser - Williams Trading, LLC, Research Division
M. Liu - JPMorgan Chase & Co, Research Division
Aubrey Tianello - BNP Paribas, Research Division
Rakesh Patel - Raymond James & Associates, Inc., Research Division

Presentation

Operator

Good afternoon, and good morning to our investor community. Thank you for joining On's 2025 Third Quarter Earnings Conference Call and Webcast. With me today on the call are On's Executive Co-Chairman and Co-Founder, Caspar Coppetti; and CEO and CFO, Martin Hoffmann. Before we begin, I will briefly remind everyone that today's call will contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements reflect our current expectations and beliefs only and are subject to certain risks and uncertainties that could cause actual results to differ materially.

Please refer to our annual report on Form 20-F for the 2024 fiscal year filed with the SEC on 4th March 2025 for a detailed explanation of such risks and uncertainties. We will further reference certain non-IFRS financial measures such as adjusted EBITDA and adjusted EBITDA margin. These measures are not intended to be considered in isolation or as a substitute for the financial information presented in accordance with IFRS accounting standards. Please refer to today's release for a reconciliation to the most comparable IFRS measures. We will begin with Caspar, followed by Martin, leading through today's prepared remarks, after which we are looking forward to opening the call to a Q&A session.

With that, I'm very happy to turn the call over

Recommended For You

Carrier Global Corporation (CARR) Baird 55th Annual Global Industrial Conference November 12, 2025 1:00 PM EST

Company Participants

David Gitlin - Chairman & CEO
Patrick Goris - Senior VP & CFO

Conference Call Participants

Timothy Wojs - Robert W. Baird & Co. Incorporated, Research Division

Presentation

Timothy Wojs
Robert W. Baird & Co. Incorporated, Research Division

All right. Good afternoon. I'm Tim Wojs. I cover building products here at Baird, and we're delighted to have Carrier Global joining us this year at our Global Industrial Conference. Carrier is the leading manufacturer of residential and commercial HVAC and transportation, refrigeration equipment.

David Gitlin
Chairman & CEO

You could say the -- you said the leading...

Timothy Wojs
Robert W. Baird & Co. Incorporated, Research Division

Yes. Okay. Yes. On stage with me today is Chairman and CEO, Dave Gitlin, and we have Patrick Goris, who's SVP and CFO. We're going to start with some overview remarks from Dave, and then we're going to hop into Q&A after that. So I'll turn the floor over to Dave.

David Gitlin
Chairman & CEO

Okay. Well, thank you, Tim, to you and Baird for having us. Six years ago, as we prepared for our spin, this was our first investor conference, where we laid out our vision for the new Carrier. I am very proud of how far we've come. We have a new team culture, operating system, aftermarket success, a far more focused and differentiated portfolio. A new energy, purpose and vision that deeply galvanizes our team. I'm even more excited about what lies ahead. We've been very purposeful about our portfolio. It is by design very focused. It is also by design balanced. This is underpinned by our strategy and playbook focus on driving sustained growth through leadership in products, aftermarket and systems. We are market leaders.

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Dario Amodei, CEO and co-founder of Anthropic, attends the annual meeting of the World Economic Forum in Davos, Switzerland, Jan. 23, 2025. Credit: AP Photo/Markus Schreiber, File

Artificial intelligence company Anthropic announced a $50 billion investment in computing infrastructure on Wednesday that will include new data centers in Texas and New York.

Microsoft also on Wednesday announced a new data center under construction in Atlanta, Georgia, describing it as connected to another in Wisconsin to form a "massive supercomputer" running on hundreds of thousands of Nvidia chips to power AI technology.

The latest deals show that the tech industry is moving forward on huge spending to build energy-hungry AI infrastructure, despite lingering financial concerns about a bubble, environmental considerations and the political effects of fast-rising electricity bills in the communities where they're constructed.

Anthropic, maker of the chatbot Claude, said it is working with London-based Fluidstack to build the new computing facilities to power its AI systems. It didn't disclose their exact locations or what source of electricity they will need.

Another company, cryptocurrency mining data center developer TeraWulf, has previously revealed it was working with Fluidstack on Google-backed data center projects in Texas and New York, on the shore of Lake Ontario. TeraWulf declined comment Wednesday.

A report last month from TD Cowen said that the leading cloud computing providers leased a "staggering" amount of U.S. data center capacity in the third fiscal quarter of this year, amounting to more than 7.4 gigawatts of energy, more than all of last year combined.

Oracle was securing the most capacity during that time, much of it supporting AI workloads for Anthropic's chief rival OpenAI, maker of ChatGPT. Google was second and Fluidstack came in third, ahead of Meta, Amazon, CoreWeave and Microsoft.

Anthropic said its projects will create about 800 permanent jobs and 2,400 construction jobs. It said in a statement that the "scale of this investment is necessary to meet the growing demand for Claude from hundreds of thousands of businesses while keeping our research at the frontier."

Microsoft has branded its Atlanta data center as Fairwater 2, after the original Fairwater complex being built near Milwaukee, Wisconsin. The company said it will help power its own technology, along with OpenAI's and other AI developers. Microsoft was, until earlier this year, OpenAI's exclusive cloud computing provider before the two companies amended their partnership. OpenAI has since announced more than $1 trillion in infrastructure obligations, much of it tied to its Stargate project with partners Oracle and SoftBank.

The tech industry's huge amount of spending on computing infrastructure for AI startups that aren't yet profitable has fueled concerns about an AI investment bubble.

Investors have closely watched a series of intertwined deals over recent months between top AI developers such as OpenAI and Anthropic and the companies building the costly computer chips and data centers needed to power their AI products. Anthropic said it will continue to "prioritize cost-effective, capital-efficient approaches" to scaling up its business.

© 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Citation:
Anthropic, Microsoft announce new AI data center projects as industry's construction push continues (2025, November 12)
retrieved 12 November 2025
from https://techxplore.com/news/2025-11-anthropic-microsoft-ai-center-industry.html

This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.

November 12, 2025 3:26 PM EST | Source: Levi & Korsinsky, LLP
New York, New York--(Newsfile Corp. - November 12, 2025) - If you suffered a loss on your KBR, Inc. (NYSE: KBR) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:

https://zlk.com/pslra-1/kbr-inc-lawsuit-submission-form?prid=177021&wire=5&utm_campaign=6

or contact Joseph E. Levi, Esq. via email at [email protected] or call (212) 363-7500 to speak to our team of experienced shareholder advocates.

Cannot view this video? Visit:
https://www.youtube.com/watch?v=xdLQI1y1AKI

THE LAWSUIT: A class action securities lawsuit was filed against KBR, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between May 6, 2025 and June 19, 2025.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) despite the knowledge that the U.S. Department of Defense's Transportation Command, for months, had material concerns with HomeSafe's ability to fulfill the global household goods contract, defendants claimed that the partnership was without issue, and would ramp up in future quarters; and (2) as a result, defendants' statements about KBR's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

WHAT'S NEXT? If you suffered a loss in KBR, Inc. stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/kbr-inc-lawsuit-submission-form?prid=177021&wire=5&utm_campaign=6 to learn about your rights to seek a recovery. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The 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. Attorney Advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274194

November 12, 2025 3:27 PM EST | Source: Levi & Korsinsky, LLP
New York, New York--(Newsfile Corp. - November 12, 2025) - If you suffered a loss on your Fortinet, Inc. (NASDAQ: FTNT) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:

https://zlk.com/pslra-1/fortinet-inc-lawsuit-submission-form?prid=177022&wire=5&utm_campaign=21

or contact Joseph E. Levi, Esq. via email at [email protected] or call (212) 363-7500 to speak to our team of experienced shareholder advocates.

Cannot view this video? Visit:
https://www.youtube.com/watch?v=IceBWfO3B5A

THE LAWSUIT: A class action securities lawsuit was filed against Fortinet, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between November 8, 2024 and August 6, 2025.

CASE DETAILS: According to the filed complaint, defendants made false statements and/or concealed that defendants knew that the refresh cycle would never be as lucrative as they represented, nor could it, because it consisted of old products that were a "small percentage" of the Company's business. Moreover, defendants misrepresented and concealed that they did not have a clear picture of the true number of FortiGate firewalls that could be upgraded. And while telling investors that the refresh would gain momentum over the course of two years, Fortinet misrepresented and concealed that it had aggressively pushed through roughly half of the refresh in a period of months, by the end of 2Q 2025.

WHAT'S NEXT? If you suffered a loss in Fortinet, Inc. stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/fortinet-inc-lawsuit-submission-form?prid=177022&wire=5&utm_campaign=21 to learn about your rights to seek a recovery. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The 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. Attorney Advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274196

RYE, N.Y., Nov. 12, 2025 (GLOBE NEWSWIRE) -- The Board of Trustees of GAMCO Natural Resources, Gold & Income Trust (NYSE:GNT) (the “Fund”) increased the annual distribution 20% to $0.72 per share, which will be paid $0.06 per share monthly, commencing with the January 2026 monthly distribution. The increase reflects the strength of the Fund’s NAV total return of 37% year to date.

The Board of Trustees approved the continuation of its policy of paying monthly cash distributions. The Board of Trustees declared cash distributions of $0.06 per share for each of January, February, and March 2026. Based on current dynamics, the Fund may make distributions in excess of the Fund’s earnings. It is currently expected that distributions to common shareholders in 2025 will primarily constitute a return of capital for tax purposes.

Distribution MonthRecord DatePayable DateDistribution Per ShareJanuaryJanuary 15, 2026January 23, 2026$0.06FebruaryFebruary 12, 2026February 20, 2026$0.06MarchMarch 17, 2026March 24, 2026$0.06
Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

Because the Fund’s current monthly distributions are subject to modification by the Board of Trustees at any time and the Fund’s income will fluctuate, there can be no assurance that the Fund will pay distributions at a particular rate or frequency.   Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution.

Short-term capital gains, qualified dividend income, ordinary income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. There are no capital loss carryforwards for book purposes. Therefore the Fund, on a book basis, may be distributing short term gains generated from option premiums that will not be taxable in 2025 because of the capital loss carryforwards available on a tax basis. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2025 will be made after year end and can vary from the monthly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2025 distributions in early 2026 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:

David Schachter
(914) 921-5057

The Fund’s NAV per share will fluctuate with changes in the market value of the Fund’s portfolio securities. Stocks are subject to market, economic, and business risks that cause their prices to fluctuate. Investors acquire shares of the Fund on a securities exchange at market value, which fluctuates according to the dynamics of supply and demand. When Fund shares are sold, they may be worth more or less than their original cost. Consequently, you can lose money by investing in the Fund.

Covered Call and Other Option Transaction Risks. There are several risks associated with writing covered calls and entering into other types of option transactions. For example, there are significant differences between the securities and options markets that could result in an imperfect correlation between these markets, resulting in a given transaction not achieving its objectives. In addition, a decision as to whether, when, and how to use covered call options involves the exercise of skill and judgment, and even a well-conceived transaction may be unsuccessful because of market behavior or unexpected events. As the writer of a covered call option, the Fund forgoes, during the option’s life, the opportunity to profit from increases in the market value of the security covering the call option above the exercise price of the call option, but has retained the risk of loss should the price of the underlying security decline.

About The GAMCO Natural Resources, Gold & Income Trust
The GAMCO Natural Resources, Gold & Income Trust is a diversified, closed-end management investment company with $156 million in total net assets whose primary investment objective is to provide a high level of current income. The Fund invests primarily in equity securities of gold and natural resources companies and intends to earn income primarily through a strategy of writing (selling) primarily covered call options on equity securities in its portfolio. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

NYSE – GNT
CUSIP – 36465E101

Investor Relations Contact:
David Schachter
(914) 921-5057
[email protected]

TORONTO, ON / ACCESS Newswire / November 12, 2025 / PPX Mining Corp. (TSX.V:PPX)(BVL:PPX) (the "Company" or "PPX") is pleased to announce that construction of PPX Mining's processing plant continues to advance steadily, with major milestones achieved across all operational areas. Civil works for the leaching zone are complete and tank installation is underway, while crushing and milling components are nearing full assembly with equipment largely on site. Fabrication of reagent tanks and flotation equipment has been finalized, with installation progressing on schedule. Desorption units, geotube tailings infrastructure, and key laboratory facilities are currently under construction, supported by the arrival of geotextile materials and laboratory instruments. Complementing these efforts, the Company has commenced the construction of auxiliary works, including a 200-square-meter analytical/metallurgical laboratory and the first 370-meters of reinforced concrete security perimeter wall, both expected to be completed by year-end.

Leaching Area

The civil works for the leaching area have been completed, and the installation of tanks, managed by JPC Ingenieros, has begun. All metal-mechanical materials are 100% purchased and delivered to site. Welding and assembly of the first four tanks are being finalized, while the bases for the remaining four tanks are underway, with completion expected by mid-December.

Images 1: Leaching tanks installation and assembly progressImages 2: Leaching tanks installation and assembly progressImages 3: Leaching tanks installation and assembly progressCrushing Area

All equipment has been fabricated, and the majority is already on site, except for the fine ore hopper, which is currently being transported from Lima to the project site. The containment wall for the coarse ore hopper has been redesigned and will now be built in reinforced concrete.

Image 4: Fine ore hopper ready for shipment from LimaMilling Area

Both mills have been installed and aligned, including their drive systems. Installation of the pump boxes for mill discharge and the associated pumps is in progress. The level control system for the pump feed boxes has been ordered and is pending delivery. The cyclone tower and both cyclone assemblies are now in place. Measurements of the mill liners have been taken for local fabrication of spare parts in Peru.

Image 5: Mills with installed pump boxesReagent Preparation Area

All civil works have been completed, and all reagent supply pumps are on site. The largest reagent preparation tanks have been fabricated and are being transported to the project.

Image 6: Completed fabrication of main reagent tanks for cyanide and flocculant preparationFlotation Area

All equipment has been delivered to site, and civil works for the flotation cells are in progress. The concentrate thickener installation is approximately 50% complete, and the filter press foundations have been completed, with installation now underway.

Image 7: Flotation area and thickener installation progressDesorption Area

All desorption equipment has been fabricated in Lima and will be transported to site once the ongoing civil works are completed.

Images 8: Completed Electrowinning Cells,Image 9: Gas Extractors Production CompletedImage 10: Metallic Bases for Desorption PlantGeotube Tailings Storage Area

The earthworks are finished, and the installation of the drainage system is about to begin. The first shipment of geotextiles and geomembranes, purchased from China, has arrived in Peru and is being transported to the project site.

Image 11: Transport of Geotextiles from Callao Port to SiteMetallurgical Laboratory

Major laboratory equipment has been purchased and is awaiting completion of the civil works, which began last week. The laboratory structure will be built with drywall and concrete, and is currently in the foundation and slab preparation stage. The facility will cover 200 m² and will analyze both plant and mine samples.

Image 12: Construction of concrete slab and sanitary installations for laboratorySecurity Perimeter Wall

The first 370 meters of prefabricated concrete wall have been installed, representing 20% completion of the total perimeter. The wall is expected to be fully completed by year-end.

Images 13: Perimeter Wall Construction ProgressImages 14: Perimeter Wall Construction ProgressJohn Thomas, CEO of PPX Mining Corp. commented: "The ongoing progress we are achieving at the Igor Plant reflects the dedication of our entire team and our commitment to transforming PPX into a fully integrated gold producer. Construction is advancing across all key areas, from leaching and milling to auxiliary facilities, ensuring that every component meets the highest technical and environmental standards. This is an important phase for PPX as we build the foundation for future gold and silver production growth and create lasting value for our shareholders, employees, and local communities."

About PPX Mining Corp:

PPX Mining Corp. (TSX.V: PPX.V, SSE: PPX, BVL: PPX) is a Canadian exploration and development company with assets in northern Peru. The Company's 100% owned Igor gold and silver project is located in the prolific northern Peruvian gold belt in the department of La Libertad. PPX is pursuing a two-pronged strategy to further develop and explore Project Igor. The Callanquitas structure is open along strike and at depth. Parallel structures have not yet been explored. The new discoveries in Portachuelos in 2018, as well as the exploration targets in Domo and Tesoros, show that the Igor Project is becoming a district-scale project with multiple deposits and mineralized zones. Evaluating mineral development alternatives in parallel with exploration drilling will provide dual catalysts for growth and increased shareholder value.

All scientific and technical information in this press release has been reviewed and approved by John Thomas, P. Eng., who is the CEO of the Company and a qualified person under the definitions established by National Instrument 43-101.

On behalf of the Board of Directors

John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws, including, but not limited to statements regarding test results, future plans or management estimates. Forward-looking statements are statements that relate to future events. In this context, forward-looking statements often address expected future business and financial performance and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend,", statements that an action or event "may," "might," "could," "should," or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, and the Company's actual results could differ materially from those stated or implied in forward-looking statements due to many various factors. Such uncertainties and risks include, among others, delays in obtaining or inability to obtain required regulatory approvals in connection with this transaction. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward- looking statements. All forward-looking statements contained in this press release are made as of today's date, and the Company undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.

SOURCE: PPX Mining Corp.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

GreenFirst Forest Products Inc. (GFP:CA) Q3 2025 Earnings Call November 12, 2025 9:00 AM EST

Company Participants

Joel Fournier - Chief Executive Officer
Peter Ferrante - Chief Financial Officer
Michel Lessard - President

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to GreenFirst's Third Quarter of 2025 Results Conference Call. [Operator Instructions]

During this conference call, GreenFirst representatives will be making certain statements about future financial and operational performance, business outlook and capital plans. These statements may contain forward-looking information or forward-looking statements within the meaning of Canadian securities law. Such statements involve certain risks, uncertainties and assumptions, which may cause GreenFirst's actual or future results and performance to be materially different from those expressed or implied in these statements. Additional information about these risks, factors and assumptions is included in GreenFirst's MD&A and annual AIF, which can be accessed on the company website or through SEDAR. [Operator Instructions]

I will now pass it over to Joel Fournier to begin the management presentation.

Joel Fournier
Chief Executive Officer

Thank you very much, Joanne, and good morning, everyone, and welcome to our Q3 2025 earnings call. I'm Joel Fournier, the Chief Executive Officer of GreenFirst. Today, I'm joined by Peter Ferrante, CFO; and Michel Lessard, our President. So we ended up the quarter with a negative EBITDA of $47.2 million. However, the loss is mainly due to selected adjustments. First, we had a $33.8 million duty adjustment related to an underpayment from AR6 for duty paid in 2023. The second item is we recorded an NRV provision of $8.2 million as market dropped sharply from [ $508 per thousand ] board feet in July right down to $420 by the end of September. And the third item is we had to take a downtime at our Chapleau mill to install the new saw line, and this impacted the results by $4.6 million.

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Synchrony Financial (SYF) KBW Fintech Payments Conference 2025 November 12, 2025 10:10 AM EST

Company Participants

Brian Wenzel - Executive VP & CFO

Conference Call Participants

Sanjay Sakhrani - Keefe, Bruyette, & Woods, Inc., Research Division

Presentation

Sanjay Sakhrani
Keefe, Bruyette, & Woods, Inc., Research Division

All right. I'm going to keep us on time. Joining us next is Brian Wenzel, CFO of Synchrony. Brian has over 25 years at Synchrony and its predecessor, GE Capital. Prior to becoming CFO in 2019, he held key roles, including Deputy CFO and CFO of the Retail Card business. So thank you, Brian, for joining us today.

Brian Wenzel
Executive VP & CFO

Sanjay, thanks for the invitation. Great to be here.

Question-and-Answer Session

Sanjay Sakhrani
Keefe, Bruyette, & Woods, Inc., Research Division

So I saw your monthly data this morning, and it looks like the consumer continues to be resilient in the back of this choppy macro backdrop. Maybe you could just talk a little bit about what you're seeing in the portfolio and just in the back of -- like we get a lot of mixed signals on the economy. How is your consumer holding up so well?

Brian Wenzel
Executive VP & CFO

Yes. Listen, we were pleased, obviously, with the results this morning. When you think about credit -- and to go back to that story, Sanjay, in mid-2023 and into 2024, we took credit actions, right, because we did not want to be in a situation where our losses were outside of our target underwriting zone. It's not a good use of capital for us. It's not efficient. And we generally are not going to chase growth. So we put credit actions in place. I think if you look at those trends and how those trends have performed, it's done remarkably well and arguably probably better than some of our expectations.

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Key Takeaways Opendoor has a new CEO with an impressive track record.A $1 million insider buy will provide alignment and conviction to investors.Opendoor benefits from improving operational efficiency & macro tailwinds.
OPEN’s Turnaround Story Gains Momentum Amid Fresh CatalystsI first wrote about Opendoor Technologies ((OPEN - Free Report) ) at ~$2.50 per share on August, 4th 2025. In the article, I detailed the bull case for the stock and why hedge fund manager Eric Jackson’s comparison to one of the biggest winners of the past cycle, Carvana ((CVNA - Free Report) ), made perfect sense. At the time each stock began its meteoric rise, both were beaten-down, working to digitize legacy markets, and gained a meme or cult-like stock following. Since then, OPEN shares have soared to a double-digit level before recently retreating. Over the past few months, the stock price has not the only thing that has changed at Opendoor. Although Wall Street investors are beginning to pay attention to the stock, several new bullish catalysts have emerged, suggesting it deserves a much higher share price. Below are four new bullish catalysts for the stock:

Kaz Nejatian Becomes Opendoor CEOOpendoor investors have had to endure several management and CEO shakeups over the past few years, leading to uncertainty and lack of direction. However, on September 10th, Opendoor Technologies appointed Kaz Nejatian as its CEO. Nejatian’s track record speaks for itself. Before joining OPEN, Nejatian was the Chief Operating Officer and Vice President of Product at Shopify ((SHOP - Free Report) ), one of the most successful software companies in history. Additionally, Kaz held product leadership roles at Meta Platforms ((META - Free Report) ) and was the CEO of Kash, a payment technology company acquired in 2017.

New Opendoor CEO has Skin in the GameBeyond his years of experience at America’s top tech companies, Kaz Nejatian is driving conviction in Opendoor and betting that his turnaround efforts will succeed. This week, the OPEN CEO purchased $1 million worth of OPEN shares, and now holds more than 83 million shares in total. For investors, insider buys illustrate conviction and “skin in the game.”

Opendoor’s Fundamentals are Improving RapidlyThough Nejatian has only been leading Opendoor for ~2 months, the results speak for themselves. With a focus on speed, efficiency, and AI, Opendoor has doubled its home buying pace while simultaneously cutting its operating expenses by 41%.

Trump’s 50-year Mortgage is Bullish for OpendoorRecently, the Trump Administration announced that it plans to allow banks to offer 50-year mortgages. 50-year mortgages should revitalize a sleepy housing market and provide Opendoor Technologies with more liquidity.

Bottom Line

With an accomplished CEO at the helm, improving fundamentals, and a potentially game-changing housing policy on the horizon, the pieces are falling into place for a massive breakout in OPEN shares.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of SOFI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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