Market Signal Briefing

Q3: 2025-11-11 Earnings SummaryEPS of $0.79 beats by $0.02

 |

Revenue of

$2.61B

(6.52% Y/Y)

beats by $16.61M

Alcon Inc. (ALC) Q3 2025 Earnings Call November 12, 2025 8:00 AM EST

Company Participants

Daniel Cravens - Vice President of Investor Relations
David Endicott - CEO & Director
Timothy Stonesifer - Senior VP & CFO

Conference Call Participants

Anthony Petrone - Mizuho Securities USA LLC, Research Division
Ryan Zimmerman - BTIG, LLC, Research Division
Kavya Deshpande - UBS Investment Bank, Research Division
Thomas Stephan - Stifel, Nicolaus & Company, Incorporated, Research Division
Matthew Miksic - Barclays Bank PLC, Research Division
David Saxon - Needham & Company, LLC, Research Division
Veronika Dubajova - Citigroup Inc., Research Division
Larry Biegelsen - Wells Fargo Securities, LLC, Research Division
Jeffrey Johnson - Robert W. Baird & Co. Incorporated, Research Division
Jack Reynolds-Clark - RBC Capital Markets, Research Division
David Adlington - JPMorgan Chase & Co, Research Division

Presentation

Operator

Greetings, and welcome to the Alcon Third Quarter 2025 Earnings Call.

[Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to your host, Dan Cravens. Please go ahead, sir.

Daniel Cravens
Vice President of Investor Relations

Welcome to Alcon's Third Quarter 2025 Earnings Conference Call.

Yesterday, we issued a press release, interim financial report and presentation. You can find all these documents on our website at investor.alcon.com.

Joining me on today's call are David Endicott, our Chief Executive Officer; and Tim Stonesifer, our Chief Financial Officer.

Our press release, presentation and discussion will include forward-looking statements, including statements about our future outlook. We undertake no obligation to update forward-looking statements as a result of new information for future developments, except as required by law. Our actual results may differ materially from those expressed or implied in our forward-looking statements and as such, you should not place undue reliance on any forward-looking statements.

Important factors that could cause our actual results to differ materially from those in our

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PyroGenesis Inc. (PYR:CA) Q3 2025 Earnings Call November 12, 2025 11:00 AM EST

Company Participants

Steve McCormick - Vice President of Corporate Affairs
Andre Mainella - Chief Financial Officer
Photis Pascali - President, CEO & Non-Independent Director

Presentation

Operator

Good day, and thank you for standing by. Welcome to the PyroGenesis Third Quarter 2025 Business Update Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I'd now like to hand the conference over to Steve McCormick, Vice President of Corporate Affairs. Please go ahead.

Steve McCormick
Vice President of Corporate Affairs

Thank you, Liz, and good morning to everyone. I'm Steve McCormick, Vice President of Corporate Affairs for PyroGenesis, and thank you for joining PyroGenesis 2025 Third Quarter Financial Results and Business Update Conference Call.

On the call with me today is Mr. Andre Mainella, the company's Chief Financial Officer; and Mr. Peter Pascali, the President and CEO of PyroGenesis. The company issued a press release on Tuesday, November 11, 2025, containing the financial results and the business update for the third quarter ended September 30, 2025, which can be viewed on the company's website at pyrogenesis.com. If you have any questions after the call or would like any additional information about the company, please e-mail the Investor Relations department, and we will try as best as possible to answer questions that are of a public nature and which are allowable by financial market regulations. The e-mail address is [email protected].

We will shortly provide prepared remarks reviewing the operational and financial results for the third quarter. But first, a reminder that this discussion may include forward-looking information that is based on certain assumptions, which are subject to risks and uncertainties that could cause actual results to differ materially from historical results or from results anticipated by the forward-looking information.

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Q1: 2025-11-11 Earnings SummaryEPS of $0.00 misses by $0.01

 |

Revenue of

$21.29M

(-2.78% Y/Y)

misses by $445.33K

Evolution Petroleum Corporation (EPM) Q1 2026 Earnings Call November 12, 2025 11:00 AM EST

Company Participants

Brandi Hudson - Investor Relations Manager
Kelly Loyd - CEO, President & Director
J. Bunch - Chief Operating Officer
Ryan Stash - Senior VP, CFO, Secretary, Compliance Officer & Treasurer

Conference Call Participants

Jeffrey Grampp - Northland Capital Markets, Research Division
Jeffrey Robertson - Water Tower Research LLC
Ron Aubrey
Charles Fratt - Alliance Global Partners, Research Division

Presentation

Operator

Good morning, and welcome to the Evolution Petroleum First Quarter and Fiscal Year 2026 Earnings Release Conference Call. [Operator Instructions] Please also note that today's event is being recorded.

At this time, I would like to turn the conference over to Brandi Hudson, Investor Relations Manager. Please go ahead.

Brandi Hudson
Investor Relations Manager

Thank you. Welcome to Evolution Petroleum's Fiscal Q1 2026 Earnings Call. I'm joined by Kelly Lloyd, President and Chief Executive Officer; Mark Bunch, Chief Operating Officer; and Ryan Stash, Senior Vice President, Chief Financial Officer and Treasurer.

We released our fiscal first quarter 2026 financial results after the market closed yesterday. Please refer to our earnings press release for additional information containing these results. You can access our earnings release on the Investors section of our website. Please note that any statements and information provided on today's call speaks only as of today's date, November 12, 2025, and any time-sensitive information may not be accurate at a later date.

Our discussion today will contain forward-looking statements of management's beliefs and assumptions based on currently available information. These forward-looking statements are subject to the risks, assumptions and uncertainties as described in our SEC filings. Actual results may differ materially from those expected. We undertake no obligation to update any forward-looking statements.

During today's call, we may discuss certain non-GAAP financial measures, including adjusted EBITDA and adjusted net

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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.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of BYRN 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.

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.

SAN FRANCISCO, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Shareholder rights firm Hagens Berman is scrutinizing Icelandic biopharmaceutical company Alvotech (NASDAQ: ALVO) over the propriety of its disclosures regarding its lead drug candidate and its manufacturing operations, following a dramatic revision to the company’s full-year financial forecasts.

The firm urges investors in Alvotech who suffered significant losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys.

Visit: www.hbsslaw.com/investor-fraud/alvo
Contact the Firm Now: [email protected]
844-916-0895

Alvotech (ALVO) Investigation:

The central focus of the inquiry revolves around whether Alvotech provided adequate transparency to the market concerning the status of its Biologics License Application (BLA) for AVT05—a critical biosimilar product—and the underlying manufacturing practices at its flagship Reykjavik facility. The assumptions related to these practices were "baked into" the company's ambitious 2025 revenue projections.

On May 8, 2025, Alvotech increased its full year revenue guidance for 2025 to $600-$700 million and full year adjusted EBITDA to $200-$280 million.

Three months later, on August 14, 2025, the company reiterated these robust forecasts. Furthermore, in its earnings commentary, management touted its pending marketing application for AVT05 in “major global markets,” asserting this momentum would make "the fourth quarter… by far the strongest one of this year.”

The narrative of steady growth was abruptly shattered on November 2, 2025, when Alvotech shocked investors when it announced the FDA issued a CRL that disclosed that “[t]e CRL noted that certain deficiencies, which were conveyed following the FDA’s pre-license inspection of Alvotech’s Reykjavik manufacturing facility that concluded in July 2025, must be satisfactorily resolved before this BLA for ATV05 can be approved.”

The company reduced its 2025 revenue to $570-$600 million and adjusted EBITDA to just $130-$150 million, respectively. These reductions were critical to investors because they amounted to lowered forecasted revenue range by about 10% below the prior midpoint and a whopping lowered adjusted EBITDA range by about 58% from the prior midpoint.

As to the latter, Alvotech stated it was “primarily driven by expected continuation of investments related to resolving certain facility issues, which also require a temporary slowdown in production.”

The news sent Alvotech shares crashing about 33% on November 3, 2025, wiping out hundreds of millions of dollars in market value in a single day.

“We’re focused on investors’ losses and whether Alvotech may have misled investors about its interactions with the FDA and the commercial prospects of ATV05,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in Alvotech and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Alvotech investigation, read more »

Whistleblowers: Persons with non-public information regarding Alvotech should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895

Key Takeaways Comstock posted Q3 adjusted EPS of $0.09, up from a $0.17 loss in 2024 and above the $0.04 estimate.Revenue rose to $450M from $304.5M, driven by higher natural gas price realizations.Average gas price rose to $2.75 per Mcf, offsetting lower production volumes in the quarter.
Comstock Resources, Inc. (CRK - Free Report) reported third-quarter 2025 adjusted earnings of 9 cents per share, which beat the Zacks Consensus Estimate of 4 cents. The bottom line also improved from the prior year’s adjusted loss of 17 cents. 

Total quarterly revenues of $450 million beat the Zacks Consensus Estimate of $401 million. The top line also increased from the prior-year figure of $304.5 million.

The strong quarterly results can be attributed to higher average natural gas price realizations.

Operational PerformanceTotal production averaged 111,837 million cubic feet equivalent (MMcfe), lower than the year-ago quarter’s level of 133,198 MMcfe. Natural gas production declined to 111,770 million cubic feet (MMcf) from 133,116 MMcf a year ago.

Average natural gas price realization (before hedging) came in at $2.75 per thousand cubic feet (Mcf), up from $1.90 per Mcf in the prior-year quarter. Total price realization (before hedging) averaged $2.76 per thousand cubic feet equivalent (Mcfe) compared with $1.90 Mcfe in the third quarter of 2024.

Costs & ExpensesTotal production costs amounted to $0.77 per Mcfe, flat year over year. Lease operating expenses increased to 26 cents per Mcfe from 22 cents in the year-ago period. Gathering and transportation expenses declined to 36 cents from 41 cents per Mcfe in the corresponding period of 2024.

Total operating expenses in the quarter totaled $399.6 million, higher than $365.8 million reported a year ago. Gas services expenses rose to $141.7 million from $52.6 million in the third quarter of 2024.

Balance SheetAs of Sept. 30, 2025, Comstock Resources reported a long-term debt of $3.13 billion. The company had cash and cash equivalents of $19.2 million as of the same date.

FinancialsTotal exploration and development capital expenditures in the third quarter amounted to $267.1 million. Operating cash flow came in at $190.3 million for the third quarter.

OutlookComstock Resources expects total production in the fourth quarter to be in the range of 1,200-1,300 million cubic feet equivalent per day (MMcfe/d). Lease operating expenses are expected to be between $0.25 and $0.29 per Mcfe, and gathering and transportation expenses are expected to lie in the range of $0.34-$0.40 per Mcfe for the fourth quarter.

CRK's Zacks Rank and Key PicksCRK currently carries a Zacks Rank #3 (Hold).

Some top-ranked stocks from the energy sector are Oceaneering International (OII - Free Report) , Canadian Natural Resources Ltd. (CNQ - Free Report) and FuelCell Energy (FCEL - Free Report) . While Oceaneering and Canadian Natural Resources currently sport a Zacks Rank #1 (Strong Buy) each, FuelCell carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading provider of offshore equipment and technology solutions to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.

Canadian Natural Resources is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The company boasts a diversified portfolio of crude oil, natural gas, bitumen and synthetic crude oil. It has delivered 25 consecutive years of dividend increases, one of the longest streaks among global oil producers.

FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.

The Investment Committee give you their top stocks to watch for the second half.

Key Takeaways Marriott grows its EMEA portfolio with 33 open branded residences and over 50 additional projects planned.MAR signed nearly 20 new EMEA residential deals, including Dubai Beach EDITION with Shamal Holding.The global portfolio rose 4.7% to 1.75M rooms, as RevPAR climbed 0.5%, with EMEA leading at 2.5% growth.
Marriott International, Inc. (MAR - Free Report) continues to strengthen its leading position in the market, announcing strong growth momentum and an expanded portfolio of branded residential projects across Europe, the Middle East and Africa (EMEA).

  Marriott is expanding rapidly across the EMEA region, with operations in 18 countries and territories. The company now has 33 branded residential projects open and over 50 additional on the way. Since late 2023, its portfolio has increased by 23% in Europe and 59% in the Middle East and Africa, indicating strong demand for luxury branded homes. This continued expansion is expected to strengthen the company’s market position further. Management also emphasized that the Marriott Bonvoy brand portfolio would help to create high-performing projects and vibrant communities in top global destinations.

Shares of MAR gained 0.5% during trading hours yesterday and rose an additional 0.2% in the after-hours.

Marriott’s Footprint Expansion InitiativesSo far in 2025, Marriott has secured close to 20 branded residential agreements across the EMEA region, with about half being standalone developments. A key highlight among these deals is The Residences at the Dubai Beach EDITION, which will be the first residential project under the EDITION brand in the EMEA region, developed in partnership with Shamal Holding.

 Marriott continues to thrive by seamlessly integrating its digital capabilities with exceptional hospitality service while consistently expanding its brand portfolio. The company’s extensive portfolio and strong brand equity enable it to command premium room rates in the highly competitive lodging industry. Building on this solid foundation, Marriott is actively pursuing strategic expansion initiatives aimed at further strengthening its market presence and global footprint.

 At the end of the third quarter of 2025, the company outlined plans to further expand its brand presence by growing its portfolio across various regions. Marriott’s industry-leading global portfolio of rooms increased by 4.7% year over year, reaching over 1.75 million rooms across more than 9,700 properties as of September. The company’s development pipeline also reached a new record high, exceeding 596,000 rooms, with over 250,000 rooms currently under construction.

Marriott’s Strong RevPAR Performance Supports Growth MomentumMarriott continued to demonstrate solid performance in the third quarter of 2025, driven by sustained travel demand across key markets. The company’s global RevPAR increased 0.5% year over year, supported by a 2.6% rise in International RevPAR, which once again outperformed the United States and Canada, where RevPAR declined 0.4%. In the EMEA region, RevPAR grew 2.5%, driven by higher average daily rates (ADR) and improved occupancy levels, reflecting strong regional demand.

In the Asia Pacific region (excluding China), comparable system-wide RevPAR increased 4.7% (in constant dollars) year over year, with occupancy up 1.2% and ADR up 3%. Meanwhile, comparable system-wide RevPAR in Greater China remained flat year over year, indicating stable performance in that market.

Image Source: Zacks Investment Research

Shares of MAR have gained 4.7% in the year-to-date period, outperforming the Zacks Hotels and Motels industry’s 7.8% decline. Despite the ongoing global market uncertainties, the company is expected to continue benefiting from strong leisure demand, solid global booking trends and RevPAR growth across international markets.

MAR’s Zacks Rank & Key PicksMarriott currently carries a Zacks Rank #3 (Hold).

 Some top-ranked stocks from the Consumer Discretionary sector are Carnival Corporation & plc (CCL - Free Report) , Las Vegas Sands Corp. (LVS - Free Report) and H World Group Limited (HTHT - Free Report) .

Carnival flaunts a Zacks Rank #1 (Strong Buy) at present. The company delivered a trailing four-quarter earnings surprise of 169.8%, on average. Carnival stock has gained 7.5% year to date. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Carnival’s 2025 sales and earnings per share (EPS) indicates growth of 6.5% and 51.4%, respectively, from the year-ago period’s levels.

Las Vegas Sands flaunts a Zacks Rank of 1 at present. The company delivered a trailing four-quarter earnings surprise of 14.5%, on average. LVS stock has gained 30.5% year to date.

The Zacks Consensus Estimate for LVS’ 2025 sales and EPS indicates growth of 11.9% and 29.5%, respectively, from the prior-year levels.

H World Group sports a Zacks Rank of 1 at present. The company delivered a trailing four-quarter negative earnings surprise of 18.4%, on average. HTHT stock has gained 36.9% year to date.

The Zacks Consensus Estimate for HTHT’s 2025 sales and EPS indicates growth of 5.1% and 26.9%, respectively, from the prior-year levels.

Key Takeaways Bayer's Q3 core earnings rose 137.5% year over year, driven by Crop Science performance.Crop Science sales gained from Corn Seed & Traits and non-glyphosate herbicides growth.Bayer reaffirmed 2025 sales guidance of 46jQuery3510050736800897137724_1762955117063?48B and highlighted new FDA approval for Lynkuet.
Bayer AG (BAYRY - Free Report) reported third-quarter 2025 core earnings of 17 cents per American Depositary Receipt (ADR), which comfortably beat the Zacks Consensus Estimate of 13 cents per ADR. The company reported earnings of 7 cents per ADR in the year-ago quarter.

Core earnings of 57 cents per share surged 137.5% year over year, largely driven by the increase in earnings at the Crop Science Division.

Total sales in the reported quarter were $11.289 billion (€9.7 billion), down 3.1% on a reported basis as volume growth of 5% was offset by negative pricing impact of 4.1% and a 4.5% negative impact of currency.  

On a currency and portfolio-adjusted basis, sales inched up 0.9% year over year.

Year to date, shares of Bayer have surged 62.2% compared with the industry’s gain of 8.4%.

Image Source: Zacks Investment Research

All growth rates mentioned below are on a year-over-year basis after adjusting for currency and portfolio changes.

BAYRY’s Q3 Results in DetailBayer reports under three segments, namely Crop Science, Pharmaceuticals and Consumer Health.

Crop Science sales increased 1.3% to €3.8 billion, driven by strong gains in Corn Seed & Traits and non-glyphosate-based herbicides, which more than offset the impact of regulatory headwinds affecting Soybean Seed & Traits in the United States and Insecticides in Europe. Within this segment, Corn Seed & Traits sales surged 22.4%, driven by higher planted area in North America and a solid start to the season in Latin America. In the Herbicides business, sales were up 2.8% as sales of non-glyphosate-based products were up due to higher volumes in Europe/Middle East/Africa and North America. Meanwhile, sales of glyphosate-based products were roughly flat year over year, as higher prices in North America were mostly offset by lower volumes across all region.

Fungicide sales were down 6.3% year over year as the business was mainly affected by dry weather in the Europe/Middle East/Africa region. Soybean Seed & Traits sales decreased 9.6% due to lower planted area and regulatory impacts resulting from the dicamba label vacatur in the United States. The Insecticides business decreased 9.3%, mainly due to the expiration of the Movento registration in Europe.  The Vegetable Seeds business was up 9.1%, driven by higher volumes and prices in the Europe/Middle East/Africa region.

BAYRY’s revenues in the Pharmaceuticals segment increased 0.4% to €4.33 billion. Sales of the ophthalmology drug, Eylea, decreased 11.2% to €731 million due to lower prices, especially in Japan and Canada, as well as competitive pressure from generics. Sales were also negatively impacted by phasing into the fourth quarter in Japan.

Nonetheless, the launch of Eylea 8 mg, which allows for extended treatment intervals, helped offset the decline and supported overall sales. Eylea 8 mg accounted for around 27% of overall Eylea sales, driven by higher volumes, particularly in France.

Please note that Bayer’s HealthCare unit co-develops Eylea with Regeneron (REGN - Free Report) , which records net product sales of Eylea and Eylea 8 mg in the United States. BAYRY records net product sales of Eylea outside the country. REGN records its share of profits/losses in connection with the sales of Eylea outside the United States.

However, sales of oral anticoagulant Xarelto, co-developed with Johnson & Johnson (JNJ - Free Report) , decreased 31.4% to €540 million due to competitive pressure from generics, especially in Europe and Japan.

In the U.S. market, Xarelto is marketed by J&J. Bayer earns license revenues from JNJ for Xarelto sales in the United States.

Nubeqa (for cancer) sales surged 56.2% to €622 million, recording gains in all regions and witnessing significant improvements in volumes. Kerendia sales (for the treatment of chronic kidney disease associated with type 2 diabetes and heart failure) surged 85.4%, mainly due to a substantial rise in volumes in the United States and China.

Sales of the Mirena product family (long-term contraceptive) gained 22.9%, largely driven by growth in the United States.

Consumer Health sales rose 2% to €1.4 billion, although growth was impacted by challenging conditions in key markets in North America and Asia-Pacific. Within this segment, Nutritionals sales inched up 1.1%. The Allergy & Cold business declined 7.8%. Dermatology sales (+7) gained from continued strong demand for Priorin and Bepanthen.

Both Pain & Cardio business and Digestive Health business gained 6.5%.

BAYRY Updates 2025 GuidanceOn a currency adjusted basis, Bayer continues to expect to generate sales in the range of €46-€48 billion in 2025.

For Consumer Health business, BAYRY expects currency- and portfolio-adjusted sales growth of -1% to +1% as the division navigates an increasingly challenging market environment. Bayer had previously projected the metric to come in at the lower end of the projected range of +2% to +5%.

BAYRY’s Key Pipeline UpdatesLast month, Bayer obtained FDA approval of elinzanetant for the treatment of moderate to severe menopause-related vasomotor symptoms (VMS, also known as hot flashes) under the brand name Lynkuet.

The new drug application for investigational contrast agent, gadoquatrane, had been accepted for review in both the United States and China. Gadoquatrane is being developed for use in contrast-enhanced magnetic resonance imaging of the central nervous system and other body regions in adults and pediatric patients, including term neonates.

Our Take on BAYRY’s PerformanceBayer beat on earnings in the third quarter, driven by gains in Crop Science business. The Pharma business also maintain momentum. Label expansion of key drugs and approval of additional drugs will further boost sales from this business and offset decline in Eylea and Xarelto sales.

The recent FDA approval of elinzanetant for the treatment of moderate to severe menopause-related vasomotor symptoms is a significant boost for the company. The drug is already approved in the United Kingdom and Canada.

The successful development of new drugs is imperative for Bayer. Increased litigation charges arising from lawsuits claiming that its Roundup weedkiller causes cancer have significantly impacted the bottom line. The Consumer Business is also facing an increasingly challenging market environment.

Bayer’s Zacks Rank

GE Vernova's surge outpaces peers as AI-driven energy demand, project wins, and grid expansion boost growth amid supply-chain and valuation pressures.

Circle Internet Group, Inc. (CRCL) Q3 2025 Earnings Call November 12, 2025 8:00 AM EST

Company Participants

John Andrews - Vice President of Capital Markets & Investor Relations
Jeremy Allaire - Co-Founder, Chairman & CEO
Jeremy Fox-Geen - Chief Financial Officer

Conference Call Participants

Peter Christiansen - Citigroup Inc., Research Division
Jeffrey Cantwell - Seaport Research Partners
Joseph Vafi - Canaccord Genuity Corp., Research Division
Devin Ryan - Citizens JMP Securities, LLC, Research Division
John Todaro - Needham & Company, LLC, Research Division
Kenneth Suchoski - Autonomous Research US LP
Dan Dolev - Mizuho Securities USA LLC, Research Division
Adib Choudhury - William Blair & Company L.L.C., Research Division
James Yaro - Goldman Sachs Group, Inc., Research Division
Kenneth Worthington - JPMorgan Chase & Co, Research Division

Presentation

Operator

Ladies and gentlemen, thank you for standing by. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome you to the Circle Group -- Circle Internet Group Third Quarter 2025 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to John Andrews, Vice President of Capital Markets and Investor Relations. John, you may begin.

John Andrews
Vice President of Capital Markets & Investor Relations

Thank you, operator, and good morning. I'd like to welcome you to Circle's Third Quarter 2025 Earnings Call. I'm joined by Jeremy Allaire, our Co-Founder, Chief Executive Officer and Chairman, and Jeremy Fox-Geen, our Chief Financial Officer. Earlier this morning, we posted our earnings press release and earnings presentation on the Circle Investor Relations website, investor.circle.com. A transcript of this call will be posted on that website once available.

I do need to remind everyone that our earnings press release, presentation and this call contain statements that are forward looking. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot

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Key Takeaways CoreWeave's Q3 revenues jumped 134% year over year to a record $1.4 billion.Revenue backlog soared to $55.6 billion, offering strong visibility and growth potential.Rising capex and interest costs pressured profitability, with guidance lowered for 2025.
CoreWeave, Inc. ((CRWV - Free Report) ), one of the fastest-growing players in the AI infrastructure space, saw its shares slide following the third-quarter 2025 results, as investors reacted to concerns over delays, rising capital expenditures and a reduction in guidance. Its shares slid 16.3% in the last session, taking the decline to 37.6% in the past month, underperforming the Zacks Internet-Software Market’s loss of 6.8%.

Image Source: Zacks Investment Research

The key question for investors: With CRWV stock down, is this dip a buying opportunity or a warning sign? Let’s take a deeper look at the recent numbers, management commentary and forward outlook points to ascertain the best course of action.

CRWV Q3 Earnings SnapshotRevenues in the third quarter were a record $1.4 billion, which beat the Zacks Consensus Estimate by 6.8% and jumped 134% year over year. The top-line performance was driven by surging demand for AI compute capacity.

Revenue backlog (inclusive of remaining performance obligation and other amounts the company estimates will be recognized as revenues in future periods under committed customer contracts) was $55.6 billion. The revenue backlog nearly doubled quarter over quarter.

Total operating expenses were $1.3 billion compared with $466.8 million in the year-ago quarter.

Operating income was $51.9 million compared with $117.1 million in the prior-year quarter. Adjusted operating income was $217.2 million, up 74% year over year, while adjusted operating margin was 16%, down from 21%.

As of Sept. 30, 2025, CRWV had $3 billion in cash, cash equivalents and restricted cash.

Guidance, Capex and Interest Costs ConcernsAmid intense competition, pressures like heavy capex, rising interest costs and delays have kept investors on tenterhooks, leading to a sharp fall post-earnings announcement. CoreWeave faces tough competition in the AI cloud infrastructure space, which boasts behemoths like Amazon and Microsoft and other players like Nebius ((NBIS - Free Report) ). Nebius is another hypergrowth AI infrastructure focused company. Third quarter group revenues for Nebius surged 355% year over year to $146.1 million while the core infrastructure business (comprising 90% of total revenues) surged 400%.

Management cited delays in powered-shell delivery associated with the data center provider as affecting fourth-quarter results. CRWV expects full-year 2025 revenues to be between $5.05 billion and $5.15 billion compared with $5.15 billion to $5.35 billion projected earlier.

Adjusted operating income is forecasted to be between $690 million and $720 million compared with $800-$830 million anticipated earlier. CRWV is bringing some large-scale deployments online in the fourth quarter and this is expected to impact adjusted operating income. The metric will be affected due to the timing difference between when data center costs are first incurred and subsequent revenue recognition.

Capex is estimated to be $12 billion to $14 billion compared with $20 billion to $23 billion projected earlier. It expects to recognize the vast amount of capex for the fourth quarter in the first quarter of 2026 following delayed of powered-shell capacity. 2026 capex is expected to be in excess of double that of 2025. Higher capex can be a concern if revenues do not keep up the required pace to sustain such high capital intensity, especially in a macro environment where AI demand cycles could fluctuate due to competitive pricing and regulatory changes.

Another concern is that CoreWeave’s aggressive data center buildout is being funded in large part by debt. The company has raised a staggering $14 billion in debt and equity year to date. Interest expense surged to $311 million compared with $104 million a year ago. For 2025, it expects interest expenses to be between $1.21 billion and $1.25 billion, owing to high leverage. Higher interest expenses can exert pressure on the adjusted net income and potentially affect free cash flow generation and undermine near-term profitability. Adjusted net loss for the third quarter was $41 million against adjusted net income of $67 million a year ago.

Multiple Tailwinds Suggest a Long Runway for GrowthWith its GPU-based cloud services tailored specifically for AI workloads, CRWV is at the center of the AI infrastructure boom. A $55.6 billion backlog including $50 billion in RPO provide ample revenue visibility and financial predictability. Importantly, the company continues to diversify its customer base, with no single customer exceeding 35% of backlog, down from 50% from the last quarter.

CoreWeave is rapidly increasing its infrastructure footprint with eight new data centers across the United States in the third quarter. Further expansions are underway in Europe, including Scotland. CRWV highlighted that no single data center provider accounts for more than 20% of its contracted power, which adds operational resilience.

CRWV had nearly 590 megawatts (“MW”) of active power and contracted power of 2.9 gigawatts (“GW”) at the quarter-end. With more than 850 MW of active power targeted by year-end, CRWV is positioning itself as a top-tier provider capable of meeting the needs of large-scale AI training and inference workloads. With 1 GW of contracted capacity still unsold, CoreWeave is well-placed to capture future demand.

Also, the company’s focus on strengthening its storage ecosystem will drive recurring revenue streams. The new CoreWeave AI Object Storage solution offers 75% cost reduction and is witnessing increasing traction. Management noted that its entire storage platform already boasts $100 million in ARR.. 

The company’s partnership with NVIDIA Corporation ((NVDA - Free Report) ) is a big plus. CoreWeave is one of the first cloud providers to deploy NVIDIA’s GB200 and GB300 GPUs at scale, maintaining a technical lead. NVIDIA also has an agreement with CRWV to purchase residual unsold capacity through April 13, 2032, subject to certain conditions.

Partnerships with OpenAI and Meta Platforms ((META - Free Report) ) validate its AI infrastructure as cutting-edge and reliable. The company entered into a multi-year deal worth up to approximately $14.2 billion with META to supply cloud computing capacity. The new OpenAI expansion contract, worth $6.5 billion, involves CRWV supplying capacity for OpenAI training of its next-generation models. The total value of OpenAI contact now stands at an impressive $22.4 billion, which includes $11.9 billion agreement in March and $4 billion expansion in May.

CoreWeave also deepened ties with a leading hyperscaler, marking their sixth contract, and continued to serve as the preferred partner for innovators, such as Mizuho Bank, NASA for Jet Propulsion Laboratory, and Poolside. The launch of CoreWeave Federal opens new vertical targeting U.S. government agencies and the defense industrial base.

Further, the company is on an acquisition spree to supplement inorganic growth. CoreWeave’s recent acquisitions of OpenPipe, Marimo and Monolith enhance its technological and commercial reach.

What to Make of the Lofty Valuation?Valuation-wise, CoreWeave seems overvalued, as suggested by the Value Score of F. In terms of Price/Book, CRWV’s shares are trading at 16.25X, way higher than the Internet Software Services industry’s ratio of 6.21X.

Image Source: Zacks Investment Research

The premium valuation is justified to an extent due to the company’s hyper revenue growth, expanding backlog and deep AI ecosystem integration.

CRWV Is a Buy for NowDespite the recent selloff and concerns over aggressive capex strategy and execution risks, CoreWeave’s long-term growth story remains intact. The company’s solid backlog, customer diversification efforts, increasing footprint in the AI infrastructure space bode well, along with strategic partnerships with NVIDIA, META and OpenAI.

While near-term performance may remain pressured by capex and ballooning interest costs, these investments are setting the stage for outsized growth in the upcoming years. For now, the current dip in CRWV stock seems an attractive buying opportunity.

At present, CRWV carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Humacyte, Inc. (HUMA) Q3 2025 Earnings Call November 12, 2025 8:00 AM EST

Company Participants

Laura Niklason - Founder, President, CEO & Director
Dale Sander - CFO, Chief Corporate Development Officer & Treasurer

Conference Call Participants

Thomas Johnson - Lifesci Advisors, LLC
Sneha Muthe - Barclays Bank PLC, Research Division
Iseult McMahon - BTIG, LLC, Research Division
Joshua Jennings - TD Cowen, Research Division
Jason Kolbert - D. Boral Capital LLC, Research Division
Bruce Jackson - The Benchmark Company, LLC, Research Division
Swayampakula Ramakanth - H.C. Wainwright & Co, LLC, Research Division

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to the Humacyte's Third Quarter Results Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.

I'll now turn the call over to Tom Johnson with LifeSci Advisors. Please go ahead.

Thomas Johnson
Lifesci Advisors, LLC

Thank you, operator. Before we proceed with the call, I would like to remind everyone that certain statements made during this call are forward-looking statements under U.S. federal securities laws. These statements are subject to risks and uncertainties that could cause actual results to differ materially from historical experience or present expectations. Additional information concerning factors that could cause actual results to differ from statements made on this call is contained in our periodic reports filed with the SEC. The forward-looking statements made during this call speak only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, except as required by law. Information presented on this call is contained in the press release we issued this morning and in our Form 10-Q, which after filing may be accessed from the Investor page of the Humacyte website.

Joining me on today's call from Humacyte are Dr. Laura Niklason, President and Chief Executive Officer; and Dale Sander, Chief Financial Officer and Chief

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FTC Solar, Inc. (FTCI) Q3 2025 Earnings Call November 12, 2025 8:30 AM EST

Company Participants

Bill Michalek - Vice President of Investor Relations & Corporate Communications
Yann Brandt - President, CEO & Director
Cathy Behnen - CFO, Chief Accounting Officer & Secretary

Conference Call Participants

Philip Shen - ROTH Capital Partners, LLC, Research Division
Sameer Joshi - H.C. Wainwright & Co, LLC, Research Division
Jeffrey Osborne - TD Cowen, Research Division

Presentation

Operator

Hello, and thank you for standing by. Welcome to FTC Solar's Third Quarter 2025 Earnings Conference Call. [Operator Instructions].

I would now like to hand the conference over to Bill Michalek, Vice President of Investor Relations. Sir, you may begin.

Bill Michalek
Vice President of Investor Relations & Corporate Communications

Thank you, and welcome, everyone, to FTC Solar's Third Quarter 2025 Earnings Conference Call.

Before today's call, you may review our earnings release and supplemental financial information, which are posted earlier today. If you can not review these documents, they are available in the Investor Relations section of our website at ftcsolar.com.

I'm joined today by Yann Brandt, the company's President and Chief Executive Officer; Cathy Behnen, the company's Financial Officer; and Patrick Cook, the company's Head of Capital Markets and BD.

Before we begin, I remind everyone that today's discussion contains forward-looking statements based on our assumptions and beliefs in the current environment and speaks only as of the current date. As such, these forward-looking statements include risk and uncertainties and actual results and events could differ materially from our current expectations.

Please refer to our press release and other SEC filings for more information on the specific risk factors. We assume no obligation to update such information, except as required by law. As you'd expect, we'll discuss both GAAP and non-GAAP financial measures today. Please note that the earnings release issued

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BigBear.ai Holdings (NYSE:BBAI) is one of the better stocks on Wall Street today, last seen up 13.8% to trade at $6.90. While the AI defense company's adjusted third-quarter loss of seven cents per share was steeper than estimates, third-quarter revenue topped forecasts. BigBear.ai also announced $250 million a definitive agreement to acquire Ask Sage, a generative AI platform. 

BBAI is on track for a fourth-straight win, and is now up 56.4% in 2025. The shares traded below $2 a year ago, but are a ways off their Feb. 13, record high of $10.36. 

Like most AI growth names, the short squeeze potential is enticing. Digging deeper, the 79.41 million shares sold short now account for 18.4% of BBAI's total available float. 

Calls are the preference in the options pits. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have bought to open 89,429 calls in the past two weeks, compared to just 28,615 puts.

Echoing this, over 204,000 calls have exchanged hands so far today -- volume that's triple the average intraday amount -- compared to only 59,000 puts. The weekly 11/14 8- and 7.50-strike calls are the most popular contracts, with positions bought to open at both.

Transaction in Own Shares   

12 November, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 12 November, 2025 it purchased the following number of Shares for cancellation.

Aggregated information on Shares purchased according to trading venue:

Date of purchaseNumber of Shares purchasedHighest price paidLowest price paid Volume weighted average price paid per shareVenueCurrency12/11/2025717,11629.355029.095029.1988LSEGBP12/11/2025----Chi-X (CXE)
GBP12/11/2025----BATS (BXE)
GBP12/11/2025714,57533.375033.005033.1466XAMSEUR12/11/2025----CBOE DXEEUR12/11/2025----TQEXEUR These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme previously announced on 30 October 2025.

In respect of this programme, Merrill Lynch International will make trading decisions in relation to the securities independently of the Company for a period from 30 October 2025 up to and including 30 January 2026.

The on-market limb will be effected within certain pre-set parameters and in accordance with the Company’s general authority to repurchase shares on-market. The off-market limb will be effected in accordance with the Company’s general authority to repurchase shares off-market pursuant to the off-market buyback contract approved by its shareholders and the pre-set parameters set out therein. The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes (“EU MAR”) and EU MAR as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time (“UK MAR”) and the Commission Delegated Regulation (EU) 2016/1052 (the “EU MAR Delegated Regulation”) and the EU MAR Delegated Regulation as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time.

In accordance with EU MAR and UK MAR, a breakdown of the individual trades made by Merrill Lynch International on behalf of the Company as a part of the buy-back programme is detailed below.

Enquiries

Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html

2025.11.12 Shell RNS (with fills)

Shares of United Bancorp, Inc. (UBCP - Free Report) have gained 4.3% since the company reported its earnings for the quarter ended Sept. 30, 2025. This compares favorably with the S&P 500 index’s 0.5% growth over the same period. However, over the past month, UBCP has underperformed, declining 2.9% against the S&P 500’s 3.2% gain.

United Bancorp posted a third-quarter 2025 earnings per share of 34 cents, which rose 9.7% year over year. 

Net interest income rose 9.6% to $6.7 million, driven by a 7% increase in total interest income, which totaled $10.6 million. Total noninterest income increased 10.9% to $1.4 million, while noninterest expenses climbed 8.2% to $6 million. These results produced an 8.9% increase in pre-tax earnings. 

Net income of $1.9 million reflected a 6.1% increase from the same quarter in 2024.

Key Business Metrics: Asset Growth and Margin ExpansionNet interest margin rose 16 basis points to 3.66%, supported by a 5% increase in total assets to $866.8 million. Gross loans advanced 4.5% year over year to $496.5 million and cash held at the Federal Reserve climbed 20.6% to $45.6 million. The company also deployed $21 million in excess reserves into municipal securities, achieving a taxable equivalent yield of 6.1%, positioning itself to benefit further if interest rates decline.

On the funding side, total deposits increased 4.8% to $645.2 million. Notably, noninterest-bearing demand deposits rose 8.5% to $156.3 million. However, the mix shifted slightly toward higher-cost time deposits, leading to a 2.7% year-over-year increase in interest expense for the quarter. Despite this, interest expense as a percentage of average assets only rose three basis points to 1.80%, a level management believes will improve over time due to anticipated declines in funding costs.

Management Commentary: Strategic Growth Amid Economic HeadwindsCFO Randall M. Greenwood acknowledged the macroeconomic uncertainty driven by new trade policies and a government shutdown in October. Still, he emphasized that United Bancorp has delivered a stable financial performance despite the broader volatility. Greenwood highlighted the positive trends in net interest income and margin expansion, attributing much of the improvement to prudent asset deployment and the favorable repricing of existing loans.

CEO Scott A. Everson reinforced the company’s focus on expanding its balance sheet to exceed $1 billion in assets. He noted that strong demand in the small-business segment — especially within the commercial loan portfolio that comprises around 80% of total loans — presents a compelling opportunity to scale profitably. Everson expressed optimism that continued infrastructure investments would deliver operating leverage and drive long-term earnings growth.

Drivers of Financial Results: Earnings Supported by Credit Discipline and Loan GrowthThe primary contributors to earnings growth were higher loan yields and an expanding loan book. Interest income on loans increased 7.6% in the quarter, while loan fees declined 4.4%. Meanwhile, credit quality remained stable. Nonperforming assets accounted for 0.66% of total assets, and net charge-offs were minimal at -0.04% of average loans, similar to prior-year levels.

However, the company more than doubled its provision for credit losses on loans, rising to $0.2 million for the quarter from $0.07 million in the prior year. This increase, though partially dilutive to EPS, reflects the company’s more proactive credit risk management in light of economic uncertainties. Despite the increase, the allowance for credit losses to total loans improved to 0.87%, with coverage of nonaccrual loans at 177%, up from the prior year’s 0.84% and 1053%, respectively.

Forward StrategyThe company laid out several growth initiatives expected to boost future performance. Management highlighted the pending opening of a new regional banking center in Wheeling, WV, which has already contributed to deposit and loan growth through pre-opening business development efforts. Additionally, the Unified Mortgage Division and newly developed Treasury Management services are expected to generate higher fee income and support deposit growth by enhancing client relationships.

United Bancorp also emphasized its continued investment in digital transformation, including a new artificial intelligence platform aimed at improving customer support and cross-selling opportunities. Management anticipates these developments will create a more scalable and efficient banking model, helping the company achieve higher profitability and customer satisfaction in future periods.

Other DevelopmentsUnited Bancorp continued executing on its strategic infrastructure plan during the quarter. The company is finalizing renovations for the new Unified Center in St. Clairsville, OH, which will centralize key functions such as Accounting, IT and Customer Support. This facility is expected to be fully operational by the first quarter of 2026 and play a central role in enhancing customer experience and internal efficiencies.

Additionally, the company reiterated its commitment to shareholder returns. United Bancorp increased its regular cash dividend 5.7% year over year to 55.5 cents and its special dividend by 16.7% to 17.5 cents, bringing the total dividend payout to 73 cents for the first nine months of 2025, an 8.2% increase over the same period last year. This payout results in a forward dividend yield of 6.6%, which management describes as “near-industry leading.”

, /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of AI-powered smart glasses, waveguides, and Augmented Reality (AR) technologies, is pleased to announced that the Company will be participating in the 16th Annual Craig-Hallum Alpha Select Conference being held on November 18th, 2025 at the Sheraton New York Times Square Hotel in New York City. Institutional investors attending the conference are welcome to request a 1-on-1 meeting with company management via their Craig-Hallum salesperson.

About Vuzix Corporation

Vuzix is a leading designer, manufacturer and marketer of AI-powered Smart Glasses, Waveguides and Augmented Reality (AR) technologies, components and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 450 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and the augmented reality wearables field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2024 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; and Kyoto and Okayama, Japan.  For more information, visit the Vuzix website, X and Facebook pages. 

Vuzix Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations,
Vuzix Corporation
[email protected]  
Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – [email protected]  www.vuzix.com

SOURCE Vuzix Corporation

Key Takeaways Occidental posted Q3 earnings of 64 cents per share, topping the consensus estimate by 33.3%.Production volumes hit 1,465 Mboe/d, led by record Gulf uptime and higher Permian output.Oxychem will be sold to Berkshire Hathaway for $9.7B to reduce debt and bolster the balance sheet.
Occidental Petroleum Corporation (OXY - Free Report) reported third-quarter 2025 earnings of 64 cents per share, which beat the Zacks Consensus Estimate of 48 cents by 33.3%. However, the bottom line dropped 36% year over year.

 GAAP earnings in the reported quarter were 65 cents per share compared with 98 cents in the year-ago quarter. The difference between GAAP and non-GAAP earnings was due to a 1-cent impact from after-tax non-core adjustments.

Total Revenues of OXYTotal revenues were $6.71 billion, which missed the Zacks Consensus Estimate of $6.72 billion marginally by 0.07%. The top line also lagged 6.21% year over year due to a decline in commodity prices.

OXY’s Q3 Segmental DetailsOil and Gas revenues totaled $5.4 billion in the reported quarter, down 5.14% year over year.

Chemical revenues amounted to $1.17 billion, down 6.4% year over year.

Midstream & Marketing revenues of $306 million were down nearly 30.5% year over year.

Production & Sales of OXYTotal production volume was 1,465 thousand barrels of oil equivalent per day (Mboe/d). The metric surpassed the company’s guidance of 1,415-1,455 Mboe/d.

Total sales volume was 1,468 Mboe/d, up 4.04% from the year-ago period.

OXY’s Realized PricesRealized prices of crude oil dropped 14% year over year to $64.78 per barrel on a worldwide basis. Realized natural gas liquids prices dropped 4.3% year over year to $19.6 per barrel globally.

Natural gas prices increased 270% year over year to $1.48 per thousand cubic feet.

Highlights of OXY’s Q3 ReleaseOccidental has started to unlock value from its Barnett Shale assets. Courtesy of OXY’s existing operation in the region, well development expenses in the Barnett Shale are expected to be 25% lower than normal.

Total costs and reduction in third-quarter 2025 were $5.72 billion, on par with year-ago quarter expenses.

Courtesy of operational efficiency, Occidental was able to record the highest quarterly uptime in the Gulf of America in the last six years, leading to strong production volumes from the region.

Strong contribution from the middle-east holdings boosted the overall performance of OXY’s international assets in the quarter.

Production volumes from the Permian Basin were 800 Mboe/d, up 9.7% from the year-ago quarter, courtesy of 436 wells which came online in the year-to-date period.

Interest and debt expenses decreased 13.5% to $270 million from $3122 million in the year-ago quarter, a positive impact from the ongoing debt reduction.

Development After Third-Quarter CloseOccidental has entered into a definitive agreement with Berkshire Hathaway to sell its chemical business, Oxychem, to the latter for $9.7 billion. The company plans to utilize a major portion of the sale proceeds to reduce its outstanding debt and strengthen the balance sheet. This transaction is expected to close in fourth-quarter 2025, subject to necessary regulatory approval.

Financial Position of OXYAs of Sept. 30, 2025, Occidental had cash and cash equivalents of $2.15 billion compared with $2.13 billion as of Dec. 31, 2024.

Occidental had long-term debt (net of current portion) of $20.84 billion as of Sept. 30, 2025, compared with $24.97 billion as of Dec. 31, 2024. The company retired $8.1 billion in debt in the last 18 months, which lowered annual interest expenses by $440 million.

OXY generated $7.89 billion of operating cash flow in the first nine months of 2025 compared with $8.08 billion in the same period of  2024.

Total capital expenditure was $5.67 billion in the first nine months of 2025 compared with $5.24 billion in the year-ago period.

OXY’s GuidanceFor the fourth quarter of 2025, OXY expects production of 1,440-1,480 Mboe/d. Output from the Permian Resources segment is anticipated at 795-815 Mboe/d. Occidental expects international production volumes for fourth-quarter 2025 to be in the range of 230-236 Mboe/d.

Exploration expenses are estimated to be $125 million and interest expenses to be $270 million in the fourth quarter of 2025.

For 2025, OXY expects to bring online 545-565 wells in the Permian region and 100-120 wells in the Rockies region.

Capital expenditure for fourth-quarter 2025 is expected to be $1.7 billion.

Occidental expects its Midstream and Marketing income to improve in the fourth quarter due to lower tariff rates on transportation contract revisions.

Zacks Rank of OXYRecent ReleasesDevon Energy Corp. (DVN - Free Report) reported third-quarter 2025 earnings per share (EPS) of $1.04, beating the Zacks Consensus Estimate of 93 cents by 11.8%.

DVN’s long-term (three-to-five years) earnings growth rate is currently pinned at 3.28%. The Zacks Consensus Estimate for 2025 EPS is pegged at $3.93, indicating a year-over-year decline of 18.46%.

TotalEnergies SE (TTE - Free Report) reported third-quarter 2025 operating earnings of $1.77 (€1.50) per share, which missed the Zacks Consensus Estimate of $1.81 by 2.2%.

TTE’s long-term earnings growth rate is currently pinned at 5.89%. The Zacks Consensus Estimate for 2025 EPS is pegged at $7.06, indicating a year-over-year decline of 9.14%.

Murphy Oil Corporation (MUR - Free Report) delivered third-quarter 2025 adjusted net earnings of 41 cents per share, which beat the Zacks Consensus Estimate of 16 cents by 156.3%.

The Zacks Consensus Estimate for 2025 EPS is pegged at $1.20, indicating a year-over-year decline of 56.52%.

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.

European Wax Center, Inc. ( EWCZ ) Q3 2025 Earnings Call November 12, 2025 8:00 AM EST Company Participants Thomas Kim - Chief Financial Officer Christopher Morris - CEO & Chairman Conference Call Participants Joshua Young - Truist Securities, Inc., Research Division Dana Telsey - Telsey Advisory Group LLC Alexander Conway - Robert W. Baird & Co. Incorporated, Research Division Simeon Gutman - Morgan Stanley, Research Division Presentation Operator Good day, and thank you for standing by.

Experian plc (OTCQX:EXPGY) Q2 2026 Earnings Call November 12, 2025 4:30 AM EST

Company Participants

Brian Cassin - CEO & Executive Director
Lloyd Pitchford - CFO & Executive Director

Conference Call Participants

Scott Wurtzel - Wolfe Research, LLC
Andrew Grobler - BNP Paribas, Research Division
Annelies Vermeulen - Morgan Stanley, Research Division
Simon Alistair Clinch - Rothschild & Co Redburn, Research Division
James Rosenthal - Barclays Bank PLC, Research Division
Ben Wild - Deutsche Bank AG, Research Division

Presentation

Operator

Good day, and thank you for standing by. Welcome to the Experian's Half Year Results for the 6 months ended 30th September 2025 Webcast and Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Mr. Brian Cassin, Chief Executive Officer. Please go ahead, sir.

Brian Cassin
CEO & Executive Director

Well, thank you very much, and hello, everybody, and welcome to our first half results presentation. I'm joined today by Lloyd, who will run through the financials after my initial overview, and then we'll open it up for Q&A.

So we delivered very good first half results at the top end of our FY '26 guidance range, and we are on course to meet our medium-term framework objectives. Revenue, margin and cash performance were all strong, supported by significant strategic progress.

Just turning to some of the financial highlights. Organic revenue growth accelerated from 8% in Q1 to 9% in Q2, averaging 8% for the first half. Including acquisitions, total constant currency revenue growth reached 12% with all acquisitions performing well.

North America performance was strong and broad-based, accelerating to 12% organically in Q2, driven by client wins, client expansions, consistently improving lender activity in B2B and good results in Consumer Services. Fiscal conditions in Latin America, particularly Brazil, remain constrained by high interest

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SummaryIonQ (IONQ) stands at the forefront of quantum computing, with strong government partnerships, rapid revenue growth, and a robust cash position.Despite IONQ's technological leadership and expanding contracts, its high valuation, negative free cash flow, and rising expenses prompt a Hold rating until the price moderates.The Defiance Quantum ETF (QTUM) offers diversified exposure to quantum and AI infrastructure, balancing pure-play innovators like IONQ with key enablers and suppliers.QTUM earns a Buy rating for its broad sector coverage, reasonable fees, and potential to capture quantum computing's growth while mitigating single-stock risk. Just_Super/iStock via Getty Images

Thesis You can think of this article as describing two different ways to invest in one big idea: the growth of quantum computing. Quantum computing is a whole different beast from the computers we use now, it runs on an entirely

Analyst’s Disclosure:I/we have a beneficial long position in the shares of IONQ 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.

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.

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