Market Signal Briefing

Katzion Receives Salesforce 2025 Partner Innovation Award for Excellence in Enabling Agentic Enterprise Transformations

SYDNEY--(BUSINESS WIRE)--Katzion, a GlobalLogic company, announced that it has been named a recipient of the Salesforce Partner Innovation Award in the Automotive category for its innovative work with Audi Singapore on the brand’s Online Direct Sale platform, an advanced omnichannel retail solution, powered by Salesforce, redefining automotive commerce experiences.

In response to a dramatically shifting automotive industry, including changing customer engagement, Katzion and Audi Singapore worked closely together to navigate the transformation to extensive digitalization by delivering an integrated online-to-offline retail platform.

The solution, entirely created and maintained by Katzion, enables:

Customers to seamlessly book test drives, purchase vehicles, engage with the brand, and arrange financing, all through a unified digital experience, either from the comfort of their home or at Audi’s state-of-the-art showroom in central Singapore

Marketing Automation via Agentforce Marketing and integrations with third parties and DMS systems using MuleSoft

Continuous support and maintenance of the entire online sales platform

This omnichannel experience reflects Audi’s brand promise of innovation and sophistication, and positions the company at the forefront of next-generation automotive retail.

“This recognition underscores the depth of Katzion’s innovation and the strength of GlobalLogic’s commitment to engineering intelligent digital ecosystems,” said Augustine Alexander, Founder and CEO at Katzion. “Katzion has been working with Audi Singapore since 2021, and as the automotive industry adapts to an ever-changing environment, we will continue to drive innovation with the brand. Katzion is the dedicated Salesforce agency for Audi Singapore, including the development of their Online Direct Sale environment. Katzion is also responsible for the support and maintenance of its entire online sales platform. Through our combined expertise in automotive technology and Salesforce integration, we’re shaping the next generation of connected retail experiences, powered by design, data, and agentic intelligence.”

“At Audi Singapore, our mission is to set new standards in premium mobility through continuous innovation,” said Martin Bayer, Managing Director, Audi Singapore. “The launch of the platform was a significant milestone in our digital evolution, reflecting our dedication to delivering a seamless, omnichannel, customer-centric experience. We’re pleased to see that Katzion’s contribution to this transformation has been recognised by Salesforce.”

"Salesforce partners are helping customers build their digital labor with Agentforce and realize the full value of their agent implementations," said Jim Steele, President, Global Strategic Customers and Partners, Salesforce. "The Salesforce 2025 Partner Innovation Awards recognize partners like Katzion that are driving agentic enterprise transformations for customers by delivering industry-specific Agentforce implementations and innovative agentic solutions."

Agentic AI represents a $6-trillion-dollar opportunity that Salesforce partners like Katzion are helping to drive by enabling agent-first businesses. By leveraging the full power of the Salesforce ecosystem to solve complex business challenges, innovate with new technologies, and drive customer transformation, Katzion is a prime example of a partner delivering creative solutions to help customers navigate their biggest hurdles.

The thirteenth annual Partner Innovation Awards recognize the significant contribution Salesforce partners have made through AI agent implementations, measurable Agentforce success stories, and the broader partner program – including consulting firms, digital agencies, resellers, and ISV partners. For a full list of this year’s Partner Innovation Award winners, please see here.

About GlobalLogic

GlobalLogic, a Hitachi Group Company, is a leading digital engineering partner that helps the world's most forward-thinking companies design and build innovative, AI-powered products, platforms, and digital experiences. Since 2000, we've been at the forefront of the digital revolution, now accelerating clients' transitions into tomorrow's AI-driven businesses by integrating experience design, complex engineering, AI, and data expertise. Headquartered in Silicon Valley, GlobalLogic is a Hitachi Group Company operating under Hitachi, Ltd. (TSE: 6501), which contributes to a sustainable society with a higher quality of life by driving innovation through AI and technology as the Social Innovation Business.

About Katzion

Founded in 2017, a GlobalLogic company, and headquartered in Sydney, Australia, Katzion (www.katzion.com) specializes in creating, enhancing, and integrating customer, vehicle, and mobility solutions in the Automotive industry. With over 165 employees across 7 offices spanning 5 countries, Katzion accelerates digital evolution through connected, data-driven, and customer-centric solutions for Automotive OEMs and Dealership Networks globally. Katzion is also a Salesforce Summit Consulting and Integration partner.

About Audi

The Audi Group is one of the most successful manufacturers of automobiles and motorcycles in the premium and luxury segment. The brands Audi, Bentley, Lamborghini, and Ducati produce at 21 locations in 12 countries. Audi and its partners are present in more than 100 markets worldwide. In 2024, the Audi Group delivered 1.7 million Audi vehicles, 10,643 Bentley vehicles, 10,687 Lamborghini vehicles and 54,495 Ducati motorcycles to customers. In the 2023 fiscal year, Audi Group achieved a total revenue of €69.9 billion and an operating profit of €6.3 billion. Worldwide, an annual average of more than 87,000 people worked for the Audi Group in 2023, more than 53,000 of them at AUDI AG in Germany. With its attractive brands and numerous new models, the group is systematically pursuing its path toward becoming a provider of sustainable, fully networked premium mobility.

Figma, Inc. (FIG) Q3 2025 Earnings Call November 5, 2025 5:00 PM EST

Company Participants

Kate DeLeo
Dylan Field - CEO, President & Chairman
Praveer Melwani - CFO & Treasurer

Conference Call Participants

Keith Weiss - Morgan Stanley, Research Division
Rishi Jaluria - RBC Capital Markets, Research Division
Arjun Bhatia - William Blair & Company L.L.C., Research Division
Kasthuri Rangan - Goldman Sachs Group, Inc., Research Division
Aleksandr Zukin - Wolfe Research, LLC
Bradley Sills - BofA Securities, Research Division
Michael Turrin - Wells Fargo Securities, LLC, Research Division
Mark Murphy - JPMorgan Chase & Co, Research Division

Presentation

Operator

Thank you for standing by. My name is Eric, and I will be your conference operator today. At this time, I would like to welcome everyone to the Figma Q3 2025 Earnings Call. [Operator Instructions] I'd now like to turn the call over to Kate DeLeo, Vice President of Investor Relations and Business Operations. Please go ahead.

Kate DeLeo

Good afternoon, and thank you for joining us on today's conference call to discuss Figma's results for the third quarter of 2025. On the call, we have Dylan Field, Figma's Co-Founder and Chief Executive Officer; and Praveer Melwani, our Chief Financial Officer. During the course of today's call, we may make forward-looking statements, including, but not limited to, statements regarding our guidance and future financial performance, market demand, product development, growth prospects, business strategies and plans, partnerships, ability to attract and retain customers and ability to compete effectively.

These forward-looking statements are based on management's current views and assumptions and should not be relied upon as of any subsequent date, and we disclaim any obligation to update any forward-looking statements. Actual results may vary materially from today's statements. Information concerning our risks, uncertainties and other factors that could cause results to differ from these forward-looking statements are included in our filings

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NEW ORLEANS, Nov. 05, 2025 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until January 2, 2026 to file lead plaintiff applications in a securities class action lawsuit against CarMax, Inc. (NYSE: KMX), if they purchased or otherwise acquired the Company’s securities between June 20, 2025 and September 24, 2025, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Maryland.

Get Help

CarMax investors should visit us at https://www.claimsfiler.com/cases/nyse-kmx-1 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

CarMax and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On September 25, 2025, the Company announced its Second Quarter Fiscal Year 2026 financial results, disclosing among other things, that retail unit sales had decreased 5.4%, comparable store unit sales had decreased 6.3%, wholesale units had decreased 2.2%, and that net earnings per diluted share of $0.64 compared to $0.85 a year ago.

On this news, the price of CarMax’s shares fell $11.5 per share, or 20.07%, to close at $45.60 per share on September 25, 2025.

The case is Cap v. CarMax, Inc., No. 25-cv-03602.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

To learn more about ClaimsFiler, visit www.claimsfiler.com.

Liberty Media Corporation - Liberty Formula One Series C (FWONK - Free Report) came out with quarterly earnings of $0.24 per share, missing the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.48 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -42.86%. A quarter ago, it was expected that this company would post earnings of $0.81 per share when it actually produced earnings of $1.52, delivering a surprise of +87.65%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Liberty Media Corporation - Liberty Formula One Series C, which belongs to the Zacks Media Conglomerates industry, posted revenues of $1.09 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 27.45%. This compares to year-ago revenues of $848 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Liberty Media Corporation - Liberty Formula One Series C shares have added about 8.7% since the beginning of the year versus the S&P 500's gain of 15.1%.

What's Next for Liberty Media Corporation - Liberty Formula One Series C?While Liberty Media Corporation - Liberty Formula One Series C has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Liberty Media Corporation - Liberty Formula One Series C was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.53 on $1.36 billion in revenues for the coming quarter and $2.58 on $3.94 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Media Conglomerates is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Madison Square Garden Entertainment (MSGE - Free Report) , is yet to report results for the quarter ended September 2025. The results are expected to be released on November 6.

This live entertainment company is expected to post quarterly loss of $0.58 per share in its upcoming report, which represents a year-over-year change of -45%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Madison Square Garden Entertainment's revenues are expected to be $153.03 million, up 10.3% from the year-ago quarter.

NEW ORLEANS, Nov. 05, 2025 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until December 8, 2025 to file lead plaintiff applications in a securities class action lawsuit against Marex Group plc (“Marex” or the “Company”) (NasdaqGS: MRX), if they purchased or otherwise acquired the Company’s securities between May 16, 2024 and August 5, 2025, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.

Get Help

Marex investors should visit us at https://claimsfiler.com/cases/nasdaq-mrx/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

Marex and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On August 5, 2025, NINGI Research reported numerous allegations about the Company including, among other things, that it “has engaged in a multi-year accounting scheme involving a web of opaque off-balance-sheet entities, fictitious intercompany transactions, and misleading disclosures to conceal significant losses, inflate profits, and mask its true risk exposure” and that it has “numerous multi-million-dollar discrepancies in intercompany receivables and loans across Marex’s sprawling network of 56+ entities.” The report further identified “a $17 million receivable created out of thin air, a subsidiary whose reported profit was inflated by 150% in group filings before being liquidated, and an asset valued at $14.9 million that was sold to Robinhood for just $2.5 million weeks later, with no reported loss” and that the Company concealed nearly $1 billion in off-balance-sheet derivatives exposure through a Luxembourg fund it both controls and trades with, and that it is using the fund to generate non-cash trading profits and inflate operating cash flow by misclassifying structured note issuance as income.

On this news, the price of Marex’s shares fell $2.33, or 6.2%, to close at $35.31 per share on August 5, 2025, on unusually heavy trading volume.

The case is Narayanan v. Marex Group PLC, et al., No. 25-cv-08393.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

To learn more about ClaimsFiler, visit www.claimsfiler.com.

CONMED Corporation (CNMD) Q3 2025 Earnings Call November 5, 2025 4:30 PM EST

Company Participants

Patrick Beyer - President, CEO & Director
Todd Garner - Executive VP of Finance & CFO

Conference Call Participants

Lilia-Celine Lozada - JPMorgan Chase & Co, Research Division
Anna Runci - Piper Sandler & Co., Research Division
Vikramjeet Chopra - Wells Fargo Securities, LLC, Research Division
Young Li - Jefferies LLC, Research Division
Gracia Mahoney - BofA Securities, Research Division
Joseph Conway - Needham & Company, LLC, Research Division

Presentation

Operator

Thank you for standing by. Welcome to CONMED's Third Quarter Fiscal 2025 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

Before the conference call begins, let me remind you that during this call, management will be making comments and statements regarding its financial outlook, its plans and objectives. These statements represent the forward-looking statements that involve risks and uncertainties as those terms are defined under the federal securities laws. Investors are cautioned that any such forward-looking statements are not guarantees of future events, performance or results. The company's actual results may differ materially from its current expectations. Please refer to the risks and other uncertainties disclosed under the forward-looking information in today's press release, as well as the company's SEC filings, for more details on the risks and uncertainties that may cause actual results to differ materially. The company disclaims any obligation to update any forward-looking statements that may be discussed during this call, except as may be required by applicable law.

You will also hear management refer to non-GAAP or adjusted measurements during this discussion. While these figures are not a substitute for GAAP measures, management uses these figures to aid in monitoring the company's ongoing financial performance from quarter-to-quarter and year-to-year on a regular basis and for benchmarking against other medical technology

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By Reuters

November 6, 20253:12 AM UTCUpdated ago

An Aeromexico aircraft is parked after the United States revoked approval for 13 Mexican airline routes and canceled combined passenger and cargo flights, at Felipe Angeles International Airport (AIFA) in Zumpango, Mexico, October 29, 2025. REUTERS/Henry Romero Purchase Licensing Rights, opens new tab

Nov 5 (Reuters) - Apollo-backed Grupo Aeromexico raised $222.8 million in its long-awaited U.S. initial public offering on Wednesday, setting the stage for a public market comeback by the Mexican airline nearly four years after it emerged out of bankruptcy.

Sign up here.

Reporting by Ateev Bhandari and Abu Sultan in Bengaluru; Editing by Alan Barona

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Q3: 2025-11-04 Earnings SummaryEPS of $2.01 beats by $0.26

 |

Revenue of

$546.50M

(6.23% Y/Y)

misses by $49.88M

Pampa Energía S.A. (PAM) Q3 2025 Earnings Call November 5, 2025 10:00 AM EST

Company Participants

Raquel Cardasz
Lida Wang - Head of Investor Relations & Sustainability
Gustavo Mariani - CEO, Executive VP & Vice Chairman
Horacio Jorge Tomas Turri - Executive Director of Exploration & Production
Adolfo Zuberbuhler - CFO & Executive Director of Finances

Presentation

Raquel Cardasz

"

Lida Wang
Head of Investor Relations & Sustainability

"

Gustavo Mariani
CEO, Executive VP & Vice Chairman

"

Horacio Jorge Tomas Turri
Executive Director of Exploration & Production

"

Adolfo Zuberbuhler
CFO & Executive Director of Finances

"

Raquel Cardasz

Good morning. Thank you for waiting. I'm Raquel Cardasz from IR, and we would like to welcome everyone to Pampa Energia's Third Quarter of 2025 Results Video Conference. First, we would like to inform you that this event is being recorded. [Operator Instructions] Before continuing, please read the disclaimer on the second page of our presentation.

Let me mention that forward-looking statements are based on Pampa Energia's management beliefs and assumptions and information currently available to the company. They involve risks, uncertainties, and assumptions because they are related to future events that may or may not occur. Investors should understand that general economic and industry conditions and other operating factors could also affect the future results of Pampa Energia and could cause results to differ materially from those expressed in such forward-looking statements.

Now I will turn the video conference to Lida.

Lida Wang
Head of Investor Relations & Sustainability

Thank you, Raquel. Hello, everyone, and thank you for joining our conference call. I will make a quick summary of Q3, so we can spend more time on Q&A with the management. Today, we have our CEO, Gustavo Mariani; our Head of Oil & Gas, Mr. Horacio Turi; and our CFO, Mr. Adolfo Zuberbuhler.

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November 05, 2025 10:24 PM EST | Source: Tenaz Energy Corp.
CALGARY, ALBERTA--(Newsfile Corp. - November 5, 2025) - Tenaz Energy Corp. ("Tenaz", "We", "Our", "Us" or the "Company") (TSX: TNZ) is pleased to announce financial and operating results for the three and nine months ended September 30, 2025.

The unaudited interim condensed consolidated financial statements and related management’s discussion and analysis (“MD&A”) are available on SEDAR+ at www.sedarplus.ca and on Tenaz’s website at www.tenazenergy.com. Select financial and operating information for the three and nine months ended September 30, 2025 appears below and should be read in conjunction with the related financial statements and MD&A.

HIGHLIGHTS

Third Quarter Operating and Financial Results

Production volumes averaged 11,832 boe/d(1) in Q3 2025, up 48% from Q2 2025, reflecting a full quarter of production from Tenaz Energy Netherlands ("TEN"). In the Netherlands, results from both TEN and our legacy non-operated assets were in line with expectations. Canadian production was up modestly, reaching a record level. Funds flow from operations(2) ("FFO") for the third quarter was $40.2 million ($1.42/share(2)) as compared to $17.2 million ($0.61/share) in Q2 2025. This increase was driven by a full quarter contribution from TEN, which contributed approximately $36.4 million to FFO, partially offset by $2.9 million of residual transaction costs from the TEN acquisition.Operating netback improved to $49.08/boe in Q3 2025, up 62% from the year-earlier period, driven by higher margins from the TEN assets. Net income for Q3 2025 was $24.8 million ($0.87/share), as compared to a loss of $2.5 million ($0.09/share) in Q3 2024. The increase in net income was due to the income contribution from TEN, partially offset by increased interest expense for the senior unsecured notes placed in November 2024. Tenaz ended Q3 2025 with a net debt position of $55.0 million, as compared to $100.2 million at the end of Q2 2025, driven primarily by free cash flow and, to a lesser extent, a reduction in estimated contingent earn-out consideration. Corporate Updates

On October 6, 2025, we announced the signing and closing of the acquisition of all of the issued and outstanding shares of Hansa Hydrocarbons Limited (the “GEMS Acquisition”), with interests in the Gateway to the Ems (“GEMS”) project in the Dutch and German sectors of the North Sea. Production and cash flow will begin to contribute to Tenaz’s results in Q4 2025. 

Concurrent with the GEMS Acquisition, we announced the closing of an additional issuance under the November 2024 Senior Unsecured Notes with gross proceeds of $178.9 million. In addition, we announced a new credit facility with a commitment amount of $115 million.

Also concurrent with the GEMS Acquisition, production guidance for 2025 was increased to a range of 9,500 to 10,000 boe/d, which reflects contributions from TEN and GEMS after the closing dates of both acquisitions. Our current production rate exceeds 16,000 boe/d, nearly a five-fold increase from this time last year.

Drilling and development capital expenditure (“D&D CAPEX”) guidance was revised to a range of $100 to $110 million. Capital activity has increased significantly in Q4 2025 with the arrival of a workover barge at TEN and the expected start-up of offshore drilling rigs at TEN, GEMS, and our legacy non-operated Netherlands assets. By early 2026, we expect three offshore rigs and one onshore rig to be active on Tenaz assets in the Dutch North Sea and in Canada, respectively.

In February 2025, we renewed our Normal Course Issuer Bid (“NCIB”) with approval to purchase up to 2.5 million additional shares. As of September 30th, we have deployed $3.8 million in our renewed NCIB program, repurchasing and retiring 0.2 million shares at an average price of $15.54/share. Since the beginning of the NCIB program in Q3 2022, we have retired 2.3 million common shares (8.2% of basic common shares) at an average price of $4.15/share.

Resource Report for TEN Assets

We engaged McDaniel & Associates Consultants Ltd. (“McDaniel”) to independently evaluate the resource potential of our Dutch North Sea (“DNS”) operated TEN assets (the “Resource Report”). The Resource Report has an effective date of July 1, 2025 and was prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (“NI 51-101”) and uses the resources and reserves definitions, standards and procedures set forth in the Canadian Oil and Gas Evaluation Handbook (“COGEH”). The Resource Report includes contingent and prospective resources attributable to the Netherlands offshore TEN assets acquired on May 1, 2025. The unrisked low (1C), best (2C), and high (3C) estimates for Tenaz’s share of contingent resources are 11.8, 20.2, and 29.0 million boe (“MMboe”), respectively, with a risked best estimate of 12.9 MMboe. McDaniel conducted an economic evaluation of the best estimate case (2C) for the contingent resources using the three consultant average forecast prices and costs as of July 1, 2025. The contingent resource report indicates unrisked after-tax net present value discounted at 10% for 2C contingent resources of $248.4 million (€152.4 million)3. 

The unrisked low, best, and high estimates for Tenaz’s share of prospective resources are 81.9, 179.3, and 412.3 MMboe, respectively, with a risked mean of 60.7 MMboe after applying chance of discovery and chance of development on a prospect-by-prospect basis. The prospective resource report includes an economic evaluation of a subset of two prospects expected to be drilled in the next two years. These two prospects, representing 4.4 MMboe unrisked best estimate resources, have an estimated mean unrisked after-tax net present value discounted at 10% of $90.0 million (€55.2 million)3. 

(1) The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. Per boe amounts have been calculated by using the conversion ratio of six thousand cubic feet (6 Mcf) of natural gas to one barrel (1 bbl) of crude oil. Refer to "Barrels of Oil Equivalent" section included in the "Advisories" section.
(2) This is a non-GAAP and other financial measure. Refer to "Non-GAAP and Other Financial Measures" included in the "Advisories" section.
(3) The forecast prices used are based on an average of the price decks of three independent engineering firms, GLJ Ltd., Sproule Associates Limited and McDaniel & Associates Consultants Ltd. (the "Consultant Average Price Forecast"). Euro denominated amounts have been translated by Tenaz to Canadian dollars at a 1.63 CAD per EUR exchange rate.

FINANCIAL AND OPERATIONAL SUMMARY

Three months ended

Nine months ended

Sep 30

Jun 30

Sep 30

Sep 30

Sep 30
($000 CAD, except per share and per boe amounts)
2025

2025

2024

2025

2024
FINANCIAL

Petroleum and natural gas sales
95,636

60,108

14,822

173,436

46,715
Cash flow from operating activities
34,587

49,837

11,923

80,613

6,221
Funds flow from operations(1)
40,196

17,214

3,360

58,363

16,225
Per share - basic(1)
1.42

0.61

0.12

2.08

0.60
Per share - diluted(1)
1.22

0.53

0.11

1.78

0.54
Net income (loss)
24,756

188,610

(2,454)
208,058

(1,676)Per share - basic
0.87

6.73

(0.09)
7.43

(0.06)Per share - diluted
0.75

5.77

(0.09)
6.36

(0.06)Capital expenditures(1)
13,096

10,834

6,946

33,250

13,263
Net debt(1)
(55,041)
(100,248)
8,999

(55,041)
8,999
Common shares outstanding (000)
 

 

 

 

 
End of period - basic
28,374

28,391

27,426

28,374

27,426
Weighted average for the period - basic
28,377

28,017

27,360

27,998

26,959
Weighted average for the period - diluted
33,081

32,669

31,368

32,721

30,293

 

 

 

 

 
OPERATING
 

 

 

 

 
Average daily production
 

 

 

 

 
Heavy crude oil (bbls/d)
1,282

1,244

794

1,160

951
Natural gas liquids (bbls/d)
111

103

54

95

65
Natural gas (Mcf/d)
62,634

39,909

10,119

38,111

9,777
Total (boe/d)(2)
11,832

7,998

2,535

7,608

2,646

 

 

 

 

 
Netbacks ($/boe)
 

 

 

 

 
Petroleum and natural gas sales
87.86

82.58

63.57

83.51

64.45
Royalties
(1.70)
(2.33)
(4.45)
(2.38)
(5.49)Transportation expenses
(2.15)
(2.56)
(1.97)
(2.41)
(2.79)Operating expenses
(36.53)
(32.56)
(33.89)
(34.12)
(31.86)Midstream income(1)
1.60

2.00

7.13

2.21

5.78
Operating netback(1)
49.08

47.13

30.39

46.81

30.09

 

 

 

 

 
BENCHMARK COMMODITY PRICES
 

 

 

 

 
WTI(3) crude oil (US$/bbl)
64.95

63.71

75.20

100.56

77.56
WCS ($/bbl)
75.15

73.93

85.02

77.80

84.78
AECO(4) ($/Mcf)
0.63

1.69

0.71

1.48

1.35
TTF(5) ($/Mcf)
15.34

16.27

15.66

17.40

13.74
(1) This is a non-GAAP measure. Refer to "Non-GAAP and Other Financial Measures" included in the "Advisories" section.
(2) The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. Per boe amounts have been calculated by using the conversion ratio of six thousand cubic feet (6 Mcf) of natural gas to one barrel (1 bbl) of crude oil. Refer to "Barrels of Oil Equivalent" section included in the "Advisories" section.
(3) WTI represents posting price of West Texas Intermediate ("WTI") crude oil.
(4) AECO is the natural gas price index for Alberta.
(5) TTF is the price for natural gas in the Netherlands.

PRESIDENT'S MESSAGE

Our business has changed dramatically since the beginning of this year.  We built on our earlier entry into the Netherlands to establish a material Dutch business with the closing of the TEN acquisition. Subsequent to Q3 2025, we announced the simultaneous signing and closing of the acquisition of the GEMS assets. Tenaz is now the largest gas producer in the Netherlands. 

After taking over operations in Q2, we successfully conducted major turnarounds on the TEN assets. A workover barge campaign and preparations for the arrival of a jack-up drilling rig are now underway at TEN. At GEMS, operator ONE-Dyas has completed the electric cable lay and is preparing to begin drilling prior to year-end. Following the TEN turnarounds and initial results from the barge campaign, our company-wide production rate currently exceeds 16,000 boe/d. 

As a result of these and other non-operated activities, Q4 2025 will be the most active period in Tenaz history. We are positioned for significant increases in our natural gas production over the next few years, using our expanding asset base and extensive infrastructure to provide additional domestic energy for the European market. 

GEMS Acquisition

On October 6, 2025, we announced the signing and closing of the acquisition of all of the issued and outstanding shares of Hansa Hydrocarbons Limited, with interests in the GEMS project on the boundary of the Dutch and German sectors of the North Sea. The GEMS properties consist of five highly prospective licenses, three in the Netherlands and two in Germany, that cover 1,811 km2 (447,000 acres) at an average distance of 30 km offshore in water depth of approximately 25 meters. Our non-operated working interests in the licenses range from 22.5% to 45%. 

The purchase price for the GEMS Acquisition was US$232 million ($323 million) in cash and US$12 million ($17 million) in Tenaz common shares. In November 2025, 648,584 Tenaz common shares are issuable to the seller pursuant to the transaction. Additional contingent consideration of up to US$60 million ($83 million) may be paid in cash based on the success of future exploration prospects.

Pursuant to the GEMS Acquisition, we have hedged 13,785 MMbtu/d over the October 2025 to December 2027 period using a combination of swaps and collars. Swaps transacted over the full hedge period average €29.86/MWh ($14.27/MMbtu). Collars transacted for the October 2025 to March 2026 period average a floor of €30.00/MWh and a ceiling of €36.43/MWh ($14.33/MMbtu and $17.40/MMbtu, respectively). The hedges protect €99.5 million ($162.2 million) of revenue during the hedge period. 

Netherlands Activity 

During the third quarter, we successfully completed two additional offshore turnarounds. The first turnaround project was a thirty-day shut down at the L02 platform to overhaul the gas compressor package. The second shut down was a twenty-day project at the K08 platform to re-wheel a gas compressor to reduce suction pressure and thereby increase production rates and ultimate recovery on several mature fields. Unplanned downtime included a successful workover to restore injectivity on a water injection well for the HiCal gas processing system. Despite the combination of planned and unplanned downtime, net production for our Netherlands assets averaged 9,506 boe/d for Q3 2025. 

Redevelopment activities commenced in mid-October following the arrival and connection of the Seafox-4 jack-up barge to the K15-FK platform. The barge will be used for platform maintenance along with a series of well interventions targeting shut-in wells and non-optimized producing wells. Following the campaign at K15-FK, the barge will move to the K15-FA platform for a similar set of activities. In aggregate, we are planning a five-month program to enhance production from the existing well stock and to conduct maintenance to extend platform life. 

During November, we expect to have the Shelf Drilling “Winner” jack-up rig arrive at the K07-FB platform following an extensive refit at the Esbjerg, Denmark shipyard. Shelf Drilling upgraded key rig components and installed NOX abatement equipment to improve operational reliability and environmental performance prior to starting our multi-well drilling campaign. Tenaz technical personnel and management toured the rig and held planning meetings with Shelf Drilling in October and left with very positive impressions of our new contractor. We subsequently conducted a multi-day drill-well-on-paper (“DWOP”) exercise with our Tenaz technical team, Shelf Drilling, and other major contractors in preparation for our first planned well at K07-FB. 

In addition to our operated capital program and the previously-mentioned GEMS drilling campaign, Eni is making final preparations for the arrival of a jack-up drilling rig for the Malachite well (21.3% Tenaz working interest), which is expected to spud in December 2025. By early 2026, we expect three offshore rigs to be operating on Tenaz assets in the Dutch North Sea (GEMS, our K07-FB operated well, and Malachite).

Canadian Activity

Canadian production reached a new record level, up 2% from Q2 2025 and 51% from Q3 2024. During the quarter, we installed a new compressor and debottlenecked gas handling to allow for increased throughput of both oil and gas. The three gross (2.4 net) wells drilled in Q1 2025 continue to have strong production performance with a current aggregate rate of approximately 1,020 boe/d gross (885 boe/d net at a 65% oil weighting). In early 2026, we plan to execute new drilling from our multi-zone development project inventory.  While our 2026 capital plan is still being formulated, we expect it to include both unstimulated multi-lateral and single-lateral multi-stage frac wells at Leduc-Woodbend.

Commodity Environment

During Q3 2025, TTF gas prices averaged €32.43/MWh ($15.30/Mcf), holding a range-bound pattern for most of the quarter. EU gas storage was in focus over the summer, requiring higher year-over-year LNG imports into Europe which lent support to a TTF price floor above €30.00/MWh ($14.33/Mcf). European gas supply is highly dependent on LNG, and competition for cargoes supports TTF prices. Positive factors for the upcoming winter include the lowest end-of-injection season EU storage since 2021 at 83% full, increased demand from Ukraine due to war damage, and geopolitical uncertainty. 

At present, the TTF marker price is approximately €31.48/MWh ($14.95/Mcf), with the price for the remainder of 2025 at €31.70/MWh ($15.05/Mcf). On a proforma basis, we have hedged approximately 56% of our Q4 2025 TTF gas production at an average price of €34.21/MWh ($16.31/Mcf), 43% for 2026 at an average price of €30.89/MWh ($14.76/Mcf) and 14% for 2027 at an average price of €29.81/MWh ($14.24/Mcf).

Continuing a trend of narrower differentials than typically experienced in past years, WCS differentials averaged US$10.39/bbl during Q3 2025. Differential strength was supported by adequate downstream pipeline capacity, low WCSB storage levels, and healthy demand from US and Asian refiners. We hedged 21% of our exposure to WTI prices for the second half of 2025, using a collar with a floor price of US$60/bbl and ceiling of US$75/bbl (as compared to a current forward market price of approximately US$59.84/bbl), but remained unhedged for WCS differential exposure.

AECO gas prices averaged $1.17/MMBtu for the Summer 2025 season, with the low price reflecting a combination of higher gas production in anticipation of LNG Canada startup, limited egress capacity, and high AECO gas storage levels. We have hedged 13% of our AECO exposure for the remainder of 2025 at a price of $3.50/MMBtu as compared to a current forward market price of $2.95/MMBtu. For 2026 and 2027, we are hedged at 48% and 45% respectively, at $3.17/MMBtu. 

Senior Unsecured Notes

The GEMS Acquisition was partially funded by an additional issuance under our November 2024 Senior Unsecured Notes. Gross proceeds raised from the additional notes were $178.9 million, placed at an 8.4% premium to underlying par value of $165 million. Call and maturity dates are the same as in the original issue, May 2027 and November 2029 respectively. While the notes have a 12% coupon as in the original issue, the premium at issuance results in a yield-to-maturity of approximately 9.5% on the new tranche. We believe the lower yield-to-maturity is indicative of our improved credit profile since the placement of the original tranche in November 2024.

The additional tranche of notes was issued on the same terms as those currently issued and outstanding, including interest rate, maturity date and terms and conditions within the indenture. Combined with the original $140 million tranche, the principal due at maturity for the senior unsecured notes is now $305 million.

Reserve Based Lending Facility

To further enhance our available liquidity, we established a new secured revolving reserve-based lending facility ("RBL Facility") with a syndicate of lenders including National Bank Capital Markets, Canadian Imperial Bank of Commerce, and Goldman Sachs. The new $115 million RBL Facility replaces our previous $20 million revolving credit facility. The RBL Facility is undrawn at present.

The new RBL Facility has a two-year term, with semi-annual borrowing base redeterminations. Interest rates are determined using a benchmark rate plus a rate margin based on our net debt-to-EBITDA ratio. The RBL Facility is subject to customary conditions for such facilities.

Net Debt

Tenaz ended Q3 2025 with a net debt position of $55.0 million, as compared to $100.2 million at the end of Q2 2025, driven primarily by free cash flow and, to a lesser extent, a reduction in estimated contingent earn-out consideration. Our net debt position at Q3 2025 largely pertains to contingent earn-out consideration, of which $47.8 million has been recorded as a current liability and $25.4 million has been recorded as a long-term liability. These amounts represent Tenaz's current estimate of the payments due in Q1 2026 (for the 2025 portion of the earn-out) and for later periods, respectively. This estimate was reduced during the current quarter by $17.7 million due to a reduction in the forecasted price for TTF. The amount paid may differ from the estimate, due to changes in commodity prices, activity levels, production results and cost results, among other factors.

Updated 2025 Corporate Guidance

Following the announcement of the acquisition of the GEMS assets, we updated our guidance to reflect the incremental production and capital for GEMS during Q4 2025. Production guidance for 2025 was revised to a range of 9,500 to 10,000 boe/d. D&D CAPEX guidance was revised to a range of $100 to $110 million.

We remain aligned throughout our organization on the creation of shareholder value. Our NCIB program continues to return capital to shareholders, and we are committed to disciplined share repurchases in 2025 and beyond. Although we have had recent success in the M&A sphere, we have not let up in progressing and refilling our acquisition pipeline. Any further transactions that we pursue will focus on accretion in all key aspects for our existing shareholders.

We extend our gratitude to our shareholders for their continued confidence in Tenaz. We are pleased to report the year-to-date total shareholder return (“TSR”) from Tenaz shares is 88%. Since the announcement of our recapitalization in 2021, our TSR is 1380%, placing Tenaz among the very top issuers in the entire TSX list.

/s/ Anthony Marino

President and Chief Executive Officer
November 5, 2025

TEN CONTINGENT RESOURCES AND PROSPECTIVE RESOURCES

The Resource Report1 for TEN assets was prepared by McDaniel, the Company’s independent qualified reserves evaluator, in accordance with the COGE Handbook and NI 51-101. The Resource Report has an effective date of July 1, 2025.

Contingent and prospective resources evaluated in the Resource Report are located offshore in the Dutch North Sea in the Netherlands. Contingent resources reflect the undeveloped fields in the K08, K15, K17 and L13 blocks. Prospective resources reflect sixty-seven exploration prospects.  Two of these prospects are in progress for development over the next two years and have been economically evaluated in the Resource Report.

The Resource Report summarizes estimates of crude oil and natural gas contingent resources and prospective resources of the Company and the net present value of future net revenue of best estimate contingent (2C) resources using forecast prices and costs. Before and after-tax results are discounted at 10 percent and have been evaluated using the July 1, 2025 Consultant Average Price Forecast.2 Estimated values of future net revenue do not represent fair market value.

Estimates of risked net present value of future net revenue of contingent and prospective resources are preliminary in nature and provided to assist the reader in reaching an opinion on the merit and likelihood of the Company proceeding with the required investments. It includes resources that are considered too uncertain with respect to the chance of development and/or chance of discovery to be classified as reserves. There is uncertainty that it will be commercially viable to produce any portion of the resources or that the net present value of future net revenue will be realized.  

Information relating to resources contains forward-looking information and statements. See "Forward-looking Information" included in the “Advisories” section. 

(1) Independent engineering resources evaluation prepared by McDaniel dated October 1, 2025 and effective July 1, 2025 and evaluated in Euros.
(2) The forecast prices used are based on an average of the price decks of three independent engineering firms, GLJ Ltd., Sproule Associates Limited and McDaniel & Associates Consultants Ltd. (the “Consultant Average Price Forecast”). Euro denominated amounts have been translated by Tenaz to Canadian dollars at a 1.63 CAD per EUR exchange rate.

The tables below summarize the volumes and economic values in the Resource Report.

TEN Contingent Resources

UnriskedRisked 1 Contingent Resources1C2C3C2C Btax NPV102C Atax NPV10 2C2C Atax NPV10MMboeMMboeMMboe MM€MM€MMboe MM€Discovered - Development on Hold - Ten Fields11.820.229.0261.7152.412.9 96.9TEN Prospective Resources

Prospective Resources2

UnriskedRisked 1LowBestHighMeanMean Btax NPV10Mean Atax NPV10Mean VolumeMean Atax NPV10MMboeMMboeMMboeMMboeMM€MM€MMboeMM€Prospective Development - Two Prospects 2.64.47.54.8104.155.22.918.1Prospective Inventory - 65 Prospects 79.3174.8404.8215.2N/AN/A57.8N/ATotal Prospective Resources - 67 prospects81.9179.3412.3220.1N/AN/A60.7N/A(1) The risked result is the product of the unrisked volume of the same category multiplied by the chance of discovery and the chance of development by prospect The chance of development is defined as the probability of a project being commercially viable. Quantifying the chance of development requires consideration of economic contingencies and other contingencies, such as legal, regulatory, market access, political, social license, internal and external approvals and commitment to project finance and development timing.
(2) There is no certainty that any portion of the prospective resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the prospective resources.

About Tenaz Energy Corp.

Tenaz is an energy company focused on the acquisition and sustainable development of international oil and gas assets. Tenaz is the largest gas producer in the Dutch sector of the North Sea and develops crude oil and natural gas at Leduc-Woodbend in Alberta. Additional information regarding Tenaz is available on SEDAR+ and at www.tenazenergy.com. Tenaz’s Common Shares are listed for trading on the Toronto Stock Exchange under the symbol “TNZ”.

ADVISORIES

Non‐GAAP and Other Financial Measures

This press release contains the terms funds flow from operations and capital expenditures which are considered “non-GAAP financial measures” and operating netback which is considered a “non-GAAP financial ratio”. These terms do not have a standardized meaning prescribed by GAAP. In addition, this press release contains the term net debt, which is considered a “capital management measure”. Accordingly, the Company’s use of these terms may not be comparable to similarly defined measures presented by other companies. Investors are cautioned that these measures should not be construed as an alternative to net income (loss) determined in accordance with GAAP and these measures should not be considered to be more meaningful than GAAP measures in evaluating the Company’s performance.

Funds flow from operations

Tenaz considers funds flow from operations to be a key measure of performance as it demonstrates the Company's ability to generate the necessary funds for sustaining capital, future growth through capital investment, and settling liabilities. Funds flow from operations is calculated as cash flow from operating activities plus income from associate and before changes in non-cash operating working capital and decommissioning liabilities settled. Funds flow from operations is not intended to represent cash flows from operating activities. A summary of the reconciliation of cash flow from operating activities to funds flow from operations, is set forth below:

($000)

Q3 2025

Q2 2025

Q3 2024

YTD 2025

YTD 2024
Cash flow from operating activities

34,587

49,837

11,923

80,613

6,221
Change in non-cash operating working capital

3,746

(34,623)
(10,469

(27,982)
1,527
Decommissioning liabilities settled

187

613

243

1,385

4,285
Midstream income

1,745

1,454

1,663

4,580

4,192
Amortization of deferred financing costs

(69)
(67)
-

(233)
-
Funds flow from operations(1)

40,196

17,214

3,360

58,363

16,225
(1) FFO per share (basic) is calculated as FFO divided by the weighted average common shares outstanding. Diluted FFO per share adjusts for the impact of potentially dilutive securities using the treasury stock method. For the periods presented, FFO per share was as follows: Q3 2025: $1.42 basic, $1.22 diluted; Q2 2025: $0.61 basic, $0.53 diluted; Q3 2024: $0.12 basic, $0.11 diluted; YTD 2025: $2.08 basic, $1.78 diluted; YTD 2024: $0.60 basic, $0.54 diluted.

Capital Expenditures

Tenaz considers capital expenditures to be a useful measure of the Company's investment in its existing asset base calculated as the sum of exploration and evaluation asset expenditures and property, plant and equipment expenditures from the consolidated statements of cash flows that is most directly comparable to cash flows used in investing activities. The reconciliation to primary financial statement measures is set forth below:

($000)

Q3 2025

Q2 2025

Q3 2024

YTD 2025

YTD 2024
Exploration and evaluation

285

198

462

794

1,447
Property, plant and equipment

12,811

10,636

6,484

32,456

11,816
Capital expenditures

13,096

10,834

6,946

33,250

13,263
Free Cash Flow ("FCF")

Tenaz considers free cash flow to be a key measure of performance as it demonstrates the Company's excess funds generated after capital expenditures for potential shareholder returns, acquisitions, or growth in available liquidity. FCF is a non-GAAP financial measure and is comprised of funds flow from operations less capital expenditures. A summary of the reconciliation of the measure, is set forth below

($000)
Q3 2025
Q2 2025

Q3 2024

YTD 2025

YTD 2024
Funds flow from operations
40,196
17,214

3,360

58,363

16,225
Less: Capital expenditures
(13,096)
(10,834)

(6,946)
(33,250)
(13,263)Free cash flow
27,100
6,380

(3,586)
25,113

2,962
Midstream Income

Tenaz considers midstream income an integral part of determining operating netbacks. Operating netbacks assists management and investors with evaluating operating performance. Tenaz’s midstream income consists of the income from its associate, Noordtgastransport B.V.(“NGT”) and excludes the amortization of fair value increment of NGT that is included in the equity investment on the balance sheet. Under IFRS Accounting Standards, investments in associates are accounted for using the equity method of accounting. Income from associate is Tenaz’s share of the investee’s net income and comprehensive income:

($000)

Q3 2025

Q2 2025

Q3 2024

YTD 2025

YTD 2024
Income from associate

1,497

1,214

1,418

3,855

3,466
Plus: Amortization of fair value increment of NGT

248

240

245

725

726
Midstream income

1,745

1,454

1,663

4,580

4,192
Net debt

Management views net debt as a key industry benchmark and measure to assess the Company's financial position and liquidity. Net debt is calculated as current assets less current liabilities, long term debt and contingent consideration, excluding the fair value of derivative instruments. If positive, the amount is referred to as adjusted working capital. Tenaz's net debt as at September 30, 2025 and December 31, 2024 is summarized below.

September 30

December 31
($000)

2025

2024
Current assets

359,539

188,537
Current liabilities

(249,743)
(40,304)Net current assets

109,796

148,233
Fair value of net derivative instruments

(960)
(5)Long-term debt

(138,508)
(138,275)Contingent consideration, non-current portion

(25,369)
-
Net debt(1)

(55,041)
9,953
Operating Netback

Tenaz calculates operating netback on a dollar or per boe basis, as petroleum and natural gas sales less royalties, operating costs and transportation costs, plus midstream income. Operating netback is a key industry benchmark and a measure of performance for Tenaz that provides investors with information that is commonly used by other crude oil and natural gas producers. The measurement on a per boe basis assists management and investors with evaluating operating performance on a comparable basis.

Per Share Ratios

FFO per share (basic) is calculated as FFO divided by the weighted average common shares outstanding. Diluted FFO per share adjusts for the impact of potentially dilutive securities using the treasury stock method.

Barrels of Oil Equivalent

The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. Per boe amounts have been calculated by using the conversion ratio of six thousand cubic feet (6 Mcf) of natural gas to one barrel (1 bbl) of crude oil. The boe conversion ratio of 6 Mcf to 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalent of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

Forward‐looking Information

This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "budget", "forecast", “guidance”, "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", “potential”, "intends", "strategy" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this press release contains forward-looking information and statements pertaining to our beliefs about estimated contingent earn-out consideration; capital plans and activities; expected well performance; the anticipated timing and scope of barge and jack-up drilling rig activities; increased future production; cash flow growth; our production and capital guidance for 2025; estimated resources and future net revenue; and the Company’s strategy including further acquisitions and accretion.

The forward-looking information and statements contained in this press release reflect several material factors and expectations and assumptions of Tenaz including, without limitation: the continued performance of Tenaz's oil and gas properties in a manner consistent with its past experiences; that Tenaz will continue to conduct its operations in a manner consistent with past operations; expectations regarding future development; the general continuance of current industry conditions; the continuance of existing (and in certain circumstances, the implementation of proposed) tax, royalty, tariff and regulatory regimes; expectations regarding future acquisition opportunities; the continued availability of oilfield services; and the continued availability of adequate debt and equity financing and cash flow from operations to fund its planned expenditures.

Tenaz believes the material factors, expectations and assumptions reflected in the forward-looking information and statements are reasonable, but no assurance can be given that these factors, expectations, and assumptions will prove to be correct.

The forward-looking information and statements included in this press release are not guarantees of future performance and should not be unduly relied upon. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements including, without limitation: changes in commodity prices; changes in the demand for or supply of Tenaz's products; unanticipated operating results or production declines; changes in tax or environmental laws, tariffs, royalty rates or other regulatory matters; changes in development plans of Tenaz or by third party operators of Tenaz's properties; increased debt levels or debt service requirements; inaccurate estimation of reserves or resources; limited, unfavorable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; a failure to obtain necessary approvals as proposed or at all and certain other risks detailed from time to time in Tenaz's public documents.

The forward-looking information and statements contained in this press release speak only as of the date of this press release and, except as may be required pursuant to applicable laws, Tenaz does not assume any obligation to publicly update or revise them to reflect new events or circumstances.

For further information, contact:

Tenaz Energy Corp.

[email protected]

/NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273230

Dogecoin (DOGE) slipped 5% to trade near $0.16 on Tuesday, marking one of its sharpest daily declines in weeks. The drop came as heavy whale distribution and surging trading volumes suggested large institutional players were offloading positions, adding pressure to already fragile market sentiment.

XRP fell more than 6% on Tuesday, extending its recent downtrend as bearish sentiment surrounding Bitcoin weighed heavily on the broader altcoin market. The Ripple-linked token tumbled to $2.20, breaking below key technical supports amid heavy institutional selling pressure and surging trading volume.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ripple has made yet another move in its long-running campaign to reshape global payments, this time acquiring Palisade, a digital asset custody infrastructure company. The deal marks the company’s fourth acquisition in recent months and is a clear escalation in what many describe as the company’s competition with SWIFT, the dominant global payments messaging network.

Palisade announced the acquisition on X, noting that its wallet-as-a-service technology will now form part of Ripple’s next-generation payments and custody infrastructure. The startup noted that its platform will help power the firm’s next-gen custody and payments infrastructure in order to bring its technology to businesses worldwide. 

Ripple also confirmed the news with a corresponding statement, describing the acquisition as a major step in advancing institutional-grade digital asset custody.

Ripple said Palisade’s scalable wallet solution is ideal for on-and off-ramps and corporate payments, adding that the integration accelerates value transfer across Ripple Payments and Custody. 

The company’s post ended with a bold statement that noted the importance of secure custody to the on-chain economy, linking the acquisition to its broader goal of building what it calls the Internet of Value. 

XRP analysts and crypto market commentators have described the acquisition news as bullish for XRP. XRP, on the other hand, is witnessing an ongoing price crash alongside the rest of the crypto market. 

The Battle Against SWIFT Rages On
The Palisade purchase is only the latest in a string of aggressive acquisitions by Ripple in 2025. In April, Ripple announced its acquisition of the prime brokerage firm Hidden Road for $1.25 billion and rebranding to Ripple Prime, a deal that significantly expanded its reach in institutional liquidity and trading services. 

Just months later, it finalized the acquisition of stablecoin platform Rail for $200 million. This was followed by its $1 billion acquisition of GTreasury, a treasury management firm, in October.

Altogether, the payment firm says it has deployed approximately $4 billion into the crypto ecosystem through a mix of mergers, acquisitions, and strategic investments. Each of these moves strengthens its infrastructure to handle every aspect of value transfer from custody and liquidity to stablecoin issuance and institutional settlements, forming the backbone of its long-term plan to challenge SWIFT’s global dominance in cross-border transactions.

As the firm continues to scale its infrastructure with acquisitions like Palisade, analysts view these moves as part of a broader strategy to build a vertically integrated financial ecosystem that can rival SWIFT’s legacy dominance.

Meanwhile, Ripple’s highly anticipated SWELL 2025 event is already underway after kicking off yesterday, bringing together key partners, regulators, and financial executives from around the world to discuss the company’s vision for the next era of blockchain-based finance. For the first time ever, the event is going to include a representative from the White House.

XRP trading at $2.22 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts.
Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

Miami Mayor Francis Suarez started receiving his salary in Bitcoin four years ago, when Bitcoin was valued at around $64,000.

Bitnomial is redefining U.S.-regulated crypto derivatives by integrating XRP and Ripple USD (RLUSD) as margin collateral, unlocking unprecedented capital efficiency and blockchain-native settlement for traders under full Commodity Futures Trading Commission oversight.

Ethereum (ETH) extended its steep decline this week, falling more than 20% in just two days and triggering nearly $1 billion in liquidations across leveraged derivatives markets. The sudden correction has left traders reeling and analysts warning of further losses ahead, with ETH possibly heading toward the $2,700–$2,800 range if selling pressure persists.

How Deep Are Bitcoin Traders Hedging After Recent Price Dip Below $100K?BTC recently fell below $100,000 as macro uncertainties weighed over spot ETF inflows. Nov 6, 2025, 2:20 a.m.

The Deribit-listed bitcoin BTC$103,031.15 options market is revealing growing caution among traders, with some prepping for a slide to $80,000, as spot prices show signs of weakness.

Notional open interest in BTC options, or the dollar value of the active contracts, remains elevated above $40 billion on Deribit, with activity concentrated in November and December strikes close to $110,000. However, at the same time, demand for the $80,000 strike has increased, a sign that traders are anticipating a continued sell-off in BTC.

STORY CONTINUES BELOW

"A notable surge in put options positioned near the $80,000 mark signals traders are increasingly hedging against a deeper slide," Deribit said. Deribit, the world's largest crypto options exchange, accounts for over 80% of the global options activity.

Options are widely used to hedge spot/futures market exposure and speculate on price direction, volatility and time. A put option gives the purchaser the right, but not the obligation, to sell the underlying asset at a predetermined price on or before a specified future date. A put represents an insurance against price drops, while a call represents a bullish bet.

The $80,000 put is a bet that the spot price will decline below that level by the option's expiration date.

OI distribution in BTC options on Deribit.

As of writing, the $80,000 put option on Deribit has open interest (OI) exceeding $1 billion, while the $90,000 put stands near $1.9 billion, nearly matching the combined open interest of the popular $120,000 and $140,000 call options.

Note that at least part of the OI in these higher strike calls stems from overwriting, or shorting against long spot bets, rather than outright bullish bets. BTC holders short higher strike calls to generate additional yield on top of their coin stash.

Down 18%Bitcoin's price has dropped by over 18% since reaching a record high of more than $126,000, roughly four weeks ago. At one point this week, prices briefly fell below $100,000.

The sell-off comes as macro pressures, particularly the recent hawkish commentary by Fed's Chair Jerome Powell, have weakened demand for spot ETFs.

"Macro pressure filtered directly into crypto via four consecutive sessions of roughly $1.3 billion in net outflows from U.S. spot Bitcoin ETFs, a reversal that turned one of 2025's strongest tailwinds into a near-term headwind," Singapore-based QCP Capital, said in a market update Wednesday.

"The softer spot demand collided with forced deleveraging, with more than $1 billion in long liquidations at the lows," the firm added.

Ecoinometrics warned in a recent report that the closer bitcoin's price stays to the $100,000 level, the greater the risk of a feedback loop emerging, where price weakness triggers outflows from bitcoin ETFs, which in turn puts additional downward pressure on the spot price.

As of writing, bitcoin changed hands at $103,200, representing a 1.9% gain over the past 24 hours.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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CVRx (CVRX - Free Report) came out with a quarterly loss of $0.49 per share versus the Zacks Consensus Estimate of a loss of $0.5. This compares to a loss of $0.57 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +2.00%. A quarter ago, it was expected that this medical device company would post a loss of $0.52 per share when it actually produced a loss of $0.57, delivering a surprise of -9.62%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

CVRx, which belongs to the Zacks Medical - Instruments industry, posted revenues of $14.69 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 3.33%. This compares to year-ago revenues of $13.37 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

CVRx shares have lost about 21.2% since the beginning of the year versus the S&P 500's gain of 15.1%.

What's Next for CVRx?While CVRx has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for CVRx was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.41 on $15.99 million in revenues for the coming quarter and -$2.00 on $56.13 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Instruments is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Globus Medical (GMED - Free Report) , is yet to report results for the quarter ended September 2025. The results are expected to be released on November 6.

This medical device company is expected to post quarterly earnings of $0.79 per share in its upcoming report, which represents a year-over-year change of -4.8%. The consensus EPS estimate for the quarter has been revised 1.3% lower over the last 30 days to the current level.

Globus Medical's revenues are expected to be $733.45 million, up 17.2% from the year-ago quarter.

Red Violet, Inc. (RDVT) Q3 2025 Earnings Call November 5, 2025 4:30 PM EST

Company Participants

Camilo Ramirez
Derek Dubner - Chairman & CEO
Daniel MacLachlan - Chief Financial Officer

Conference Call Participants

Josh Nichols - B. Riley Securities, Inc., Research Division
Eric Martinuzzi - Lake Street Capital Markets, LLC, Research Division

Presentation

Operator

Good day, ladies and gentlemen, and welcome to Red Violet's Third Quarter 2025 Earnings Conference Call.

[Operator Instructions]

As a reminder, this call is being recorded. I would now like to introduce your host for today's conference, Camilo Ramirez, Senior Vice President, Finance and Investor Relations. Please go ahead.

Camilo Ramirez

Good afternoon, and welcome. Thank you for joining us today to discuss our third quarter 2025 financial results. With me today is Derek Dubner, our Chairman and Chief Executive Officer; and Daniel MacLachlan, our Chief Financial Officer. Our call today will begin with comments from Derek and Dan, followed by a question-and-answer session.

I would like to remind you that this call is being webcast live and recorded. A replay of the event will be available following the call on our website. To access the webcast, please visit our Investors page on our website, www.redviolet.com.

Before we begin, I would like to advise listeners that certain information discussed by management during this conference call are forward-looking statements covered under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those stated or implied by our forward-looking statements due to risks and uncertainties associated with the company's business.

The company undertakes no obligation to update the information provided on this call. For a discussion of risks and uncertainties associated with Red Violet's business, I encourage you to review the company's filings with the Securities and Exchange Commission, including the most

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Traeger, Inc. (COOK) Q3 2025 Earnings Call November 5, 2025 4:30 PM EST

Company Participants

Nicholas Bacchus - Vice President of Investor Relations
Jeremy Andrus - Chairman of the Board & CEO
Joey Hord - Senior Vice President of Finance & Strategy

Conference Call Participants

Brian McNamara - Canaccord Genuity Corp., Research Division
Peter Benedict - Robert W. Baird & Co. Incorporated, Research Division
Joseph Feldman - Telsey Advisory Group LLC
Peter Keith - Piper Sandler & Co., Research Division

Presentation

Operator

Hello, everyone, and welcome to the Traeger Third Quarter Fiscal 2025 Earnings Conference Call. My name is Charlie, and I'll be coordinating the call today. [Operator Instructions] I will now hand over to our host, Nick Bacchus, Vice President of Investor Relations, Treasury and Capital Markets at Traeger to begin.

Nick, please go ahead.

Nicholas Bacchus
Vice President of Investor Relations

Good afternoon, everyone. Thank you for joining Traeger's call to discuss its third quarter 2025 results, which were released this afternoon and can be found on our website at investors.traeger.com. I'm Nick Bacchus, Vice President of Investor Relations, Treasury and Capital Markets at Traeger. With me on the call today are Jeremy Andrus, our Chief Executive Officer; and Joey Hord, our Chief Financial Officer.

Before we get started, I want to remind everyone that management's remarks on this call may contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and views of future events, including, but not limited to, statements made regarding our organizational focus, our mitigation efforts to offset the direct impact of tariffs, our Project Gravity initiative and its impact on our business and our outlook as to our anticipated full year 2025 results.

Such statements are subject to risks

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, /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS), one of the nation's largest homebuilders, today announced that its Board of Directors has declared a quarterly cash dividend of $0.29 per share. This dividend is payable on December 10, 2025 to stockholders of record as of the close of business on November 26, 2025.

About Century Communities:
Century Communities, Inc. (NYSE: CCS) is one of the nation's largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America's Most Trustworthy Companies for three consecutive years, and one of the World's Most Trustworthy Companies (2025). Century Communities has also been designated as one of U.S. News & World Report's Best Companies to Work For (2025-2026). Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.

Contact Information:
Tyler Langton, Senior Vice President of Investor Relations
303-268-8345
[email protected]

SOURCE Century Communities, Inc.

Q2 Holdings (QTWO - Free Report) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +3.64%. A quarter ago, it was expected that this provider of online banking software would post earnings of $0.51 per share when it actually produced earnings of $0.5, delivering a surprise of -1.96%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Q2 Holdings, which belongs to the Zacks Internet - Software industry, posted revenues of $201.7 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.15%. This compares to year-ago revenues of $175.02 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Q2 Holdings shares have lost about 39.9% since the beginning of the year versus the S&P 500's gain of 15.1%.

What's Next for Q2 Holdings?While Q2 Holdings has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Q2 Holdings was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.57 on $203.1 million in revenues for the coming quarter and $2.21 on $785.44 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, ON24 (ONTF - Free Report) , has yet to report results for the quarter ended September 2025. The results are expected to be released on November 10.

This webcasting and video communications services provider is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

ON24's revenues are expected to be $33.7 million, down 7.2% from the year-ago quarter.

The Pennant Group, Inc. (PNTG - Free Report) came out with quarterly earnings of $0.3 per share, beating the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.26 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +3.45%. A quarter ago, it was expected that this company would post earnings of $0.26 per share when it actually produced earnings of $0.27, delivering a surprise of +3.85%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

The Pennant Group, which belongs to the Zacks Medical - Outpatient and Home Healthcare industry, posted revenues of $229.04 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.71%. This compares to year-ago revenues of $180.69 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

The Pennant Group shares have lost about 4.7% since the beginning of the year versus the S&P 500's gain of 15.1%.

What's Next for The Pennant Group?While The Pennant Group has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for The Pennant Group was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.31 on $273.5 million in revenues for the coming quarter and $1.14 on $925.9 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Outpatient and Home Healthcare is currently in the top 18% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

RadNet (RDNT - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2025. The results are expected to be released on November 10.

This operator of medical diagnostic imaging centers is expected to post quarterly earnings of $0.23 per share in its upcoming report, which represents a year-over-year change of +27.8%. The consensus EPS estimate for the quarter has been revised 3.7% higher over the last 30 days to the current level.

RadNet's revenues are expected to be $498.13 million, up 8% from the year-ago quarter.

Encore Capital Group (ECPG - Free Report) came out with quarterly earnings of $3.17 per share, beating the Zacks Consensus Estimate of $1.92 per share. This compares to earnings of $1.26 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +65.10%. A quarter ago, it was expected that this provider of debt-management and recovery services would post earnings of $1.44 per share when it actually produced earnings of $2.49, delivering a surprise of +72.92%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Encore Capital Group, which belongs to the Zacks Financial - Consumer Loans industry, posted revenues of $460.35 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 11.75%. This compares to year-ago revenues of $367.07 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Encore Capital Group shares have lost about 14% since the beginning of the year versus the S&P 500's gain of 15.1%.

What's Next for Encore Capital Group?While Encore Capital Group has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Encore Capital Group was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.97 on $416.61 million in revenues for the coming quarter and $8.31 on $1.64 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Consumer Loans is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Open Lending (LPRO - Free Report) , has yet to report results for the quarter ended September 2025. The results are expected to be released on November 6.

This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 10% lower over the last 30 days to the current level.

Open Lending's revenues are expected to be $21.43 million, down 8.7% from the year-ago quarter.

ARKO Corp. (ARKO - Free Report) came out with quarterly earnings of $0.1 per share, missing the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.07 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -16.67%. A quarter ago, it was expected that this company would post earnings of $0.12 per share when it actually produced earnings of $0.16, delivering a surprise of +33.33%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

ARKO, which belongs to the Zacks Consumer Products - Staples industry, posted revenues of $2.02 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.97%. This compares to year-ago revenues of $2.28 billion. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

ARKO shares have lost about 32.9% since the beginning of the year versus the S&P 500's gain of 15.1%.

What's Next for ARKO?While ARKO has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for ARKO was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.01 on $1.84 billion in revenues for the coming quarter and $0.17 on $7.65 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Consumer Products - Staples is currently in the bottom 18% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Edgewell Personal Care (EPC - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2025. The results are expected to be released on November 13.

This consumer products maker is expected to post quarterly earnings of $0.82 per share in its upcoming report, which represents a year-over-year change of +13.9%. The consensus EPS estimate for the quarter has been revised 4.6% lower over the last 30 days to the current level.

Edgewell Personal Care's revenues are expected to be $536.03 million, up 3.6% from the year-ago quarter.