Market Signal Briefing

Operator

Good morning, ladies and gentlemen. Welcome to Cohen & Company's Third Quarter 2025 Earnings Call. My name is Alicia, and I'll be your operator for today.

Before we begin, Cohen & Company would like to remind everyone that some of the statements the company makes during this call may contain forward-looking statements under applicable securities laws. These statements may involve risks and uncertainties that could cause the company's actual results to differ materially from the results discussed in such forward-looking statements.

The forward-looking statements made during this call are made only as of the date of this call, and the company undertakes no obligation to update such statements to reflect subsequent events or circumstances. Cohen & Company advises you to read the cautionary note regarding forward-looking statements in its earnings release and in its most recent annual report on Form 10-K filed with the SEC.

Earlier today, Cohen & Company issued a press release announcing third quarter 2025 financial results. Today's discussion is complementary to that press release, which is available on the company's website at cohenandcompany.com. This conference call is being recorded, and a replay of it will be available for 3 days beginning shortly after the conclusion of this call.

The company's remarks also include certain non-GAAP financial measures that management believes are meaningful when evaluating the company's performance. A reconciliation of these non-GAAP financial measures to the comparable GAAP measures is provided in the company's earnings release. After the prepared remarks, the call will be opened up for questions.

I would now like to turn the call over to Mr. Daniel

TUCSON, AZ / ACCESS Newswire / November 4, 2025 / Applied Energetics, Inc. (OTCQB:AERG), a pioneer in ultrashort pulse laser (USPL) and advanced directed energy solutions, today announced that Chris Donaghey, President and Chief Executive Officer of Applied Energetics, will moderate a panel at the Baird 8th Annual Defense & Government Conference on Tuesday, November 18, 2025 at 3:55 pm ET at The Ritz-Carlton, Tysons Corner, Virginia. Donaghey's Panel "Transforming Warfighting: DefenseTech Disruption" will include CEOs from four leading DefenseTech companies.

Roku, Inc. NASDAQ: ROKU delivered a powerful statement to the market with its third-quarter 2025 earnings, igniting a rally in its stock price. The streaming leader reported its first operating profit since 2021, a pivotal milestone that suggests a fundamental improvement in the company's financial health.

Heron Therapeutics (HRTX - Free Report) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.02. This compares to a loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -150.00%. A quarter ago, it was expected that this pharmaceutical company would post a loss of $0.01 per share when it actually produced a loss of $0.02, delivering a surprise of -100%.

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

Heron Therapeutics, which belongs to the Zacks Medical - Drugs industry, posted revenues of $38.21 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 0.91%. This compares to year-ago revenues of $32.81 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.

Heron Therapeutics shares have lost about 22.9% since the beginning of the year versus the S&P 500's gain of 16.5%.

What's Next for Heron Therapeutics?While Heron Therapeutics 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 Heron Therapeutics 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 -$0.02 on $40 million in revenues for the coming quarter and -$0.04 on $154.67 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 - Drugs is currently in the top 36% 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, Lyra Therapeutics, Inc. (LYRA - Free Report) , is yet to report results for the quarter ended September 2025.

This company is expected to post quarterly loss of $5.98 per share in its upcoming report, which represents a year-over-year change of +33.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Lyra Therapeutics, Inc.'s revenues are expected to be $0.11 million, down 42.1% from the year-ago quarter.

TPG Inc. (TPG - Free Report) came out with quarterly earnings of $0.53 per share, missing the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $0.45 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 company would post earnings of $0.45 per share when it actually produced earnings of $0.69, delivering a surprise of +53.33%.

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

TPG Inc., which belongs to the Zacks Financial - Investment Management industry, posted revenues of $509.4 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.10%. This compares to year-ago revenues of $459.84 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.

TPG Inc. shares have lost about 12.8% since the beginning of the year versus the S&P 500's gain of 16.5%.

What's Next for TPG Inc.?While TPG Inc. 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 TPG Inc. 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 $0.73 on $550.61 million in revenues for the coming quarter and $2.45 on $2.01 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 - Investment Management is currently in the top 30% 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, PennantPark (PFLT - Free Report) , is yet to report results for the quarter ended September 2025. The results are expected to be released on November 24.

This investment company is expected to post quarterly earnings of $0.28 per share in its upcoming report, which represents a year-over-year change of -12.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

PennantPark's revenues are expected to be $65.91 million, up 18.7% from the year-ago quarter.

Have you looked into how Wesco International (WCC - Free Report) performed internationally during the quarter ending September 2025? Considering the widespread global presence of this maker of electrical and industrial maintenance supplies and construction materials, examining the trends in international revenues is essential for assessing its financial resilience and prospects for growth.

The global economy today is deeply interlinked, making a company's engagement with international markets a critical factor in determining its financial success and growth path. It has become essential for investors to comprehend how much a company relies on these foreign markets, as this understanding reveals the firm's potential for consistent earnings, its capacity to harness different economic cycles, and its overall growth prospects.

Presence in international markets can act as a hedge against domestic economic downturns and provide access to faster-growing economies. However, this diversification also brings complexities due to currency fluctuations, geopolitical risks and differing market dynamics.

Our review of WCC's last quarterly performance uncovered some notable trends in the revenue contributions from its international markets, which are commonly analyzed and tracked by Wall Street experts.

For the quarter, the company's total revenue amounted to $6.2 billion, experiencing an increase of 12.9% year over year. Next, we'll explore the breakdown of WCC's international revenue to understand the importance of its overseas business operations.

Exploring WCC's International Revenue PatternsCanada generated $844.1 million in revenues for the company in the last quarter, constituting 13.6% of the total. This represented a surprise of +6.68% compared to the $791.27 million projected by Wall Street analysts. Comparatively, in the previous quarter, Canada accounted for $804 million (13.6%), and in the year-ago quarter, it contributed $763.7 million (13.9%) to the total revenue.

During the quarter, Other International contributed $808.9 million in revenue, making up 13.1% of the total revenue. When compared to the consensus estimate of $721.12 million, this meant a surprise of +12.17%. Looking back, Other International contributed $708.7 million, or 12%, in the previous quarter, and $684.3 million, or 12.5%, in the same quarter of the previous year.

International Revenue PredictionsIt is projected by analysts on Wall Street that Wesco International will post revenues of $5.87 billion for the ongoing fiscal quarter, an increase of 6.7% from the year-ago quarter. The expected contributions from Canada and Other International to this revenue are 12.7%, and 12.2%, translating into $743.56 million, and $718.48 million, respectively.

Analysts expect the company to report a total annual revenue of $23.55 billion for the full year, marking an increase of 7.9% compared to last year. The expected revenue contributions from Canada and Other International are projected to be 13% ($3.05 billion), and 11.9% ($2.8 billion) of the total revenue, in that order.

Concluding RemarksWesco International's leaning on foreign markets for its revenue stream presents a mix of chances and challenges. Therefore, a vigilant watch on its international revenue movements can greatly aid in projecting the company's future direction.

In an era of growing international interdependencies and escalating geopolitical disputes, Wall Street analysts are vigilant in tracking these trends for businesses with a global reach, in order to refine their predictions of earnings. It should be noted, however, that a multitude of other elements, such as a company's domestic position, also play a significant role in shaping the earnings forecasts.

Here at Zacks, we put a great deal of emphasis on a company's changing earnings outlook, as empirical research has shown that's a powerful force driving a stock's near-term price performance. Quite naturally, the correlation is positive here -- an upward revision in earnings estimates drives the stock price higher.

Our proprietary stock rating tool, the Zacks Rank, with its externally validated exceptional track record, harnesses the power of earnings estimate revisions to serve as a dependable measure for anticipating the short-term price trends of stocks.

Wesco International, bearing a Zacks Rank #2 (Buy), is expected to outperform the broader market's movements in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Wesco International's Recent Stock Market PerformanceOver the past month, the stock has seen an increase of 19% in its value, whereas the Zacks S&P 500 composite has posted an increase of 2.1%. The Zacks Computer and Technology sector, Wesco International's industry group, has ascended 5.5% over the identical span. In the past three months, there's been an increase of 28.4% in the company's stock price, against a rise of 10.3% in the S&P 500 index. The broader sector has increased by 18.8% during this interval.

IPG Photonics (IPGP - Free Report) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +118.75%. A quarter ago, it was expected that this high-powered laser maker would post earnings of $0.1 per share when it actually produced earnings of $0.3, delivering a surprise of +200%.

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

IPG, which belongs to the Zacks Lasers Systems and Components industry, posted revenues of $250.79 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 6.59%. This compares to year-ago revenues of $233.14 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.

IPG shares have added about 18.1% since the beginning of the year versus the S&P 500's gain of 16.5%.

What's Next for IPG?While IPG has outperformed 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 IPG 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 $0.33 on $241.83 million in revenues for the coming quarter and $1.06 on $955.67 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, Lasers Systems and Components is currently in the top 39% 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 broader Zacks Computer and Technology sector, Intellinetics, Inc. (INLX - Free Report) , is yet to report results for the quarter ended September 2025.

This company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of -11.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Intellinetics, Inc.'s revenues are expected to be $4.32 million, down 5.9% from the year-ago quarter.

Have you evaluated the performance of Eli Lilly's (LLY - Free Report) international operations during the quarter that concluded in September 2025? Considering the extensive worldwide presence of this drugmaker, analyzing the patterns in international revenues is crucial for understanding its financial resilience and potential for growth.

In the modern, closely-knit global economic landscape, the capacity of a business to access foreign markets is often a key determinant of its financial well-being and growth path. Investors now place great importance on grasping the extent of a company's dependence on international markets, as it sheds light on the firm's earnings stability, its skill in leveraging various economic cycles and its broad growth potential.

Participation in global economies acts as a defense against economic difficulties at home and a pathway to more rapidly developing economies. However, it also comes with the complexities of dealing with fluctuating currencies, geopolitical risks and different market dynamics.

Upon examining LLY's recent quarterly performance, we noticed several interesting patterns in the revenue generated from its international segments, which are commonly analyzed and observed by Wall Street experts.

The recent quarter saw the company's total revenue reaching $17.6 billion, marking an improvement of 53.9% from the prior-year quarter. Next, we'll examine the breakdown of LLY's revenue from abroad to comprehend the significance of its international presence.

A Closer Look at LLY's Revenue Streams AbroadOf the total revenue, $555 million came from Japan during the last fiscal quarter, accounting for 3.2%. This represented a surprise of +2.2% as analysts had expected the region to contribute $543.06 million to the total revenue. In comparison, the region contributed $521 million, or 3.4%, and $429.1 million, or 3.8%, to total revenue in the previous and year-ago quarters, respectively.

During the quarter, Other foreign countries contributed $1.69 billion in revenue, making up 9.6% of the total revenue. When compared to the consensus estimate of $1.25 billion, this meant a surprise of +35.43%. Looking back, Other foreign countries contributed $1.18 billion, or 7.6%, in the previous quarter, and $1.11 billion, or 9.7%, in the same quarter of the previous year.

Europe accounted for 19.9% of the company's total revenue during the quarter, translating to $3.5 billion. Revenues from this region represented a surprise of +37.25%, with Wall Street analysts collectively expecting $2.55 billion. When compared to the preceding quarter and the same quarter in the previous year, Europe contributed $2.57 billion (16.6%) and $1.63 billion (14.2%) to the total revenue, respectively.

Revenue Forecasts for the International MarketsFor the current fiscal quarter, it is anticipated by Wall Street analysts that Lilly will post revenues of $17.57 billion, which reflects an increase of 29.8% the same quarter in the previous year. The revenue contributions are expected to be 3.4% from Japan ($599.46 million), 7.6% from Other foreign countries ($1.33 billion) and 16.8% from Europe ($2.96 billion).

For the full year, the company is expected to generate $63.91 billion in total revenue, up 41.9% from the previous year. Revenues from Japan, Other foreign countries and Europe are expected to constitute 3.2% ($2.07 billion), 7.4% ($4.76 billion) and 16.4% ($10.47 billion) of the total, respectively.

The Bottom LineThe dependency of Lilly on global markets for its revenues presents a mix of potential gains and hazards. Thus, monitoring the trends in its overseas revenues can be a key indicator for predicting the firm's future performance.

In an era of growing international ties and escalating geopolitical disputes, financial analysts on Wall Street pay keen attention to these developments to fine-tune their earnings estimations for businesses operating across borders. It's important to note, however, that a range of additional variables, like a company's local market status, also play a crucial role in shaping these forecasts.

At Zacks, a company's changing earnings outlook is given considerable attention due to its proven, strong influence on a stock's price performance in the near term. The connection here is straightforward and positive: when earnings estimates are revised upward, the stock price generally follows suit, increasing as well.

Our proprietary stock rating tool, the Zacks Rank, with its externally validated exceptional track record, harnesses the power of earnings estimate revisions to serve as a dependable measure for anticipating the short-term price trends of stocks.

At the moment, Lilly has a Zacks Rank #3 (Hold), signifying that its performance may align with the overall market trend in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Examining the Latest Trends in Eli Lilly's Stock ValueOver the past month, the stock has gained 6.1% versus the Zacks S&P 500 composite's 2.1% increase. The Zacks Medical sector, of which Lilly is a part, has declined 0.9% over the same period. The company's shares have increased 41.1% over the past three months compared to the S&P 500's 10.3% increase. Over the same period, the sector has risen 8.7%

Have you evaluated the performance of KLA's (KLAC - Free Report) international operations for the quarter ending September 2025? Given the extensive global presence of this maker of equipment for manufacturing semiconductors, analyzing the patterns in international revenues is crucial for understanding its financial strength and potential for growth.

In the current global economy, which is more interconnected than ever, a company's success in penetrating international markets is crucial for its financial health and growth journey. Investors must understand a company's dependence on overseas markets, as this offers a window into the company's earnings stability, its ability to benefit from varied economic cycles and its potential for long-term growth.

Being present in foreign markets serves as protection against local economic declines and helps benefit from more rapidly expanding economies. Yet, such expansion also introduces challenges related to currency fluctuations, geopolitical uncertainties and varied market behaviors.

While analyzing KLAC's performance for the last quarter, we found some intriguing trends in revenues from its overseas segments that Wall Street analysts commonly model and monitor.

For the quarter, the company's total revenue amounted to $3.21 billion, experiencing an increase of 13% year over year. Next, we'll explore the breakdown of KLAC's international revenue to understand the importance of its overseas business operations.

Unveiling Trends in KLAC's International RevenuesEurope & Israel generated $150.98 million in revenues for the company in the last quarter, constituting 4.7% of the total. This represented a surprise of +6.29% compared to the $142.05 million projected by Wall Street analysts. Comparatively, in the previous quarter, Europe & Israel accounted for $125.06 million (3.9%), and in the year-ago quarter, it contributed $144.82 million (5.1%) to the total revenue.

During the quarter, Korea contributed $299.37 million in revenue, making up 9.3% of the total revenue. When compared to the consensus estimate of $473.45 million, this meant a surprise of -36.77%. Looking back, Korea contributed $478.17 million, or 15.1%, in the previous quarter, and $238.67 million, or 8.4%, in the same quarter of the previous year.

Of the total revenue, $793.61 million came from Taiwan during the last fiscal quarter, accounting for 24.7%. This represented a surprise of -6.85% as analysts had expected the region to contribute $851.99 million to the total revenue. In comparison, the region contributed $873.72 million, or 27.5%, and $461.99 million, or 16.3%, to total revenue in the previous and year-ago quarters, respectively.

Japan accounted for 9.2% of the company's total revenue during the quarter, translating to $295.21 million. Revenues from this region represented a surprise of -6.44%, with Wall Street analysts collectively expecting $315.54 million. When compared to the preceding quarter and the same quarter in the previous year, Japan contributed $377.17 million (11.9%) and $188.57 million (6.6%) to the total revenue, respectively.

China generated $1.27 billion in revenues for the company in the last quarter, constituting 39.5% of the total. This represented a surprise of +27.45% compared to the $994.21 million projected by Wall Street analysts. Comparatively, in the previous quarter, China accounted for $958.85 million (30.2%), and in the year-ago quarter, it contributed $1.2 billion (42.2%) to the total revenue.

During the quarter, Rest of Asia contributed $105.47 million in revenue, making up 3.3% of the total revenue. When compared to the consensus estimate of $110.49 million, this meant a surprise of -4.54%. Looking back, Rest of Asia contributed $80.58 million, or 2.5%, in the previous quarter, and $108.24 million, or 3.8%, in the same quarter of the previous year.

Revenue Projections for Overseas MarketsThe current fiscal quarter's total revenue for KLA, as projected by Wall Street analysts, is expected to reach $3.24 billion, reflecting an increase of 5.4% from the same quarter last year. The breakdown of this revenue by foreign region is as follows: Europe & Israel is anticipated to contribute 4.4% or $142.73 million, Korea 14.7% or $475.67 millionTaiwan 26.4% or $855.7 millionJapan 9.8% or $316.89 millionChina 30.8% or $998.82 million and Rest of Asia 3.4% or $111.03 million.

Analysts expect the company to report a total annual revenue of $13.04 billion for the full year, marking an increase of 7.2% compared to last year. The expected revenue contributions from Europe & Israel, Korea, Taiwan, Japan, China and Rest of Asia are projected to be 4.8% ($628.53 million), 14.6% ($1.9 billion)27.4% ($3.57 billion)9.5% ($1.24 billion)30% ($3.9 billion) and 3.8% ($499.91 million) of the total revenue, in that order.

Final ThoughtsKLA's reliance on international markets for revenues offers both opportunities and risks. Hence, keeping an eye on its international revenue trends could significantly help forecast the company's prospects.

In an era of growing international interdependencies and escalating geopolitical disputes, Wall Street analysts are vigilant in tracking these trends for businesses with a global reach, in order to refine their predictions of earnings. It should be noted, however, that a multitude of other elements, such as a company's domestic position, also play a significant role in shaping the earnings forecasts.

Emphasizing a company's shifting earnings prospects is a key aspect of our approach at Zacks, especially since research has proven its substantial influence on a stock's price in the short run. This correlation is positively aligned, meaning that improved earnings projections tend to boost the stock's price.

Our proprietary stock rating tool, the Zacks Rank, with its externally validated exceptional track record, harnesses the power of earnings estimate revisions to serve as a dependable measure for anticipating the short-term price trends of stocks.

KLA currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Exploring Recent Trends in Stock PriceOver the past month, the stock has gained 7% versus the Zacks S&P 500 composite's 2.1% increase. The Zacks Computer and Technology sector, of which KLA is a part, has risen 5.5% over the same period. The company's shares have increased 33.9% over the past three months compared to the S&P 500's 10.3% increase. Over the same period, the sector has risen 18.8%

Douglas Elliman Inc. (DOUG) Q3 2025 Earnings Call November 4, 2025 8:00 AM EST

Company Participants

Heather Capriola
Michael Liebowitz - CEO, President & Director
J. Kirkland - Executive VP, Treasurer & CFO

Presentation

Operator

Welcome to the Douglas Elliman's Third Quarter 2025 Earnings Conference Call. This call is being recorded and simultaneously webcast. An archived version of the webcast will be available on the Investor Relations section of the company's website located at investors.elliman.com for 1 year.

I would like to turn the conference over to Douglas Elliman Vice President of Finance, Heather Capriola.

Heather Capriola

Thank you, and good morning. On the call with me today is Michael Liebowitz, President and CEO of Douglas Elliman Inc.; and Bryant Kirkland, CFO of Douglas Elliman Inc.

During this call, the terms adjusted EBITDA and adjusted net income or loss will be used as well as last 12 months or LTM metrics. These terms are non-GAAP financial measures and should be considered in addition to, but not as a substitute for, other measures of financial performance prepared in accordance with GAAP. Reconciliations to adjusted EBITDA and adjusted net income or loss are contained in the company's earnings release, which has been posted to the Investor Relations section of the company's website.

Before the call begins, I would like to read a safe harbor statement. The statements made during this conference call that are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in more detail in the company's Securities and Exchange Commission filings.

Any forward-looking statements made during this call are made as of today, and the company undertakes no duty to update or revise any

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LOS ANGELES, Nov. 04, 2025 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Baxter International Inc. (“Baxter” or “the Company”) (NYSE: BAX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between February 23, 2022 and July 30, 2025, inclusive (the “Class Period”), are encouraged to contact the firm before December 15, 2025.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Baxter’s Novum IQ Large Volume Pump (“Novum LVP”) suffered from widespread malfunctions including overinfusion and non-delivery of fluids, exposing patients to serious risk of death or injury. The Company was notified of many device malfunctions and injuries, but its attempts to address these defects were inadequate as they failed to address design flaws. The Company’s insufficient response placed it at risk of Novum LVP pumps being taken out of service, and new sales of pumps paused. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Baxter, investors suffered damages.

Join the case to recover your losses

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.        

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

The Schall Law Firm

Bowie, MD., Nov. 04, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading global owner, operator, and provider of electric vehicle (EV) charging equipment and services, today announced it has been selected as the EV collaborator for Karbon Homes, a social housing provider, owning and managing approximately 34,000 homes across the Northeast of England and Yorkshire.

The new working relationship further expands upon Karbon Homes’ sustainability goals for its properties. The organization’s mission is to deliver quality homes and services that support thriving communities. With a focus on affordability, safety, and sustainability, Karbon offers a wide range of housing options, including affordable rent, shared ownership, and supported housing. Its ‘Stronger Foundations’ strategy underpins a commitment to decarbonization and delivering energy-efficient homes that meet the evolving needs of residents.

As part of its environmental strategy, Karbon has pledged to equip all new developments with renewable technologies, including solar PV, heat pumps, battery storage, and, with Blink’s help, EV charging infrastructure.

“Working with Blink as a singular provider will increase the degree of oversight and control we have over our EV charging capability and will enable us to centrally manage our portfolio with support from Blink,” said Anthony Bell, Karbon Homes’ Group Director for Asset and Regeneration. “We look forward to working closely with Blink to connect our domestic and commercial chargers, bridging our EV infrastructure across our Development, Asset, Facilities, Property Services and Fleet teams.”

Blink is committed to training Karbon colleagues, as well as customers moving into homes with chargers.

“It’s an honor to be working with the Karbon Homes team in support of its environmental commitments,” said Alex Calnan, Managing Director of Europe for Blink. “As more drivers transition to electric vehicles, it’s essential that we continue to provide accessible and high-quality charging infrastructure. We look forward to working closely Karbon Homes and its residents to achieve these goals.”

Blink Charging continues to secure collaborations nationwide, working with local authorities, businesses, and property developers to provide customer-focused solutions and sustainable energy management for a cleaner transport future.

###

About Karbon Homes

Karbon Homes builds, manages and looks after affordable homes for people across the North. The aim is to give all customers the strong foundations they need to get on with life. Since its formation in 2017, Karbon has focused on delivering its three strategic aims - to provide as many good quality homes as it can, to deliver excellent service to its customers, and to shape strong, sustainable places for its communities. Karbon Homes’ footprint covers the Northeast of England and Yorkshire, with over 30,000 homes across diverse communities, all facing different opportunities and challenges. Some customers just need an affordable home, or a way onto the property ladder. Others might need more – financial advice, community services, sheltered accommodation or training that can lead to a new job. Whatever people need to feel more secure, confident and happy with their lives, the Karbon team work their hearts out to provide it. Karbon believes that by combining a sound business head with a strong social heart and staying true to its values, it can build strong foundations for even more people. For more information, please visit https://www.karbonhomes.co.uk/

About Blink Charging

Blink Charging Co. (Nasdaq: BLNK) is a global leader in electric vehicle (EV) charging equipment and services, enabling drivers, hosts, and fleets to easily transition to electric transportation through innovative charging solutions. Blink’s principal line of products and services include Blink’s EV charging network (“Blink Network”), EV charging equipment, and EV charging services. The Blink Network uses proprietary, cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. Blink has established key strategic partnerships for rolling out adoption across numerous location types, including parking facilities, multifamily residences and condos, workplace locations, health care/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs.

For more information, please visit https://blinkcharging.com/

Forward-Looking Statements 

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and terms such as “anticipate,” “expect,” “intend,” “may,” “will,” “should” or other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of Blink Charging and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including achieving projected revenue, adjusted EBITDA and gross margin targets as described in Blink Charging’s periodic reports filed with the SEC, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Blink Charging undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

Blink Investor Relations Contact
Vitalie Stelea
[email protected]

Blink Media Contact
Felicitas Massa
[email protected]

SMR's Q3 results are likely to reflect the benefits of strong electricity demand to power AI-supported data centers.

LOS ANGELES, Nov. 04, 2025 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against James Hardie Industries plc (“James Hardie” or “the Company”) (NYSE: JHX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between May 20, 2025, and August 18, 2025, inclusive (the “Class Period”), are encouraged to contact the firm before December 23, 2025.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. James Hardie suffered from weakening demand in its key North America Fiber Cement business due to distributors destocking their inventory, an event the Company knew about by early May 2025. The Company falsely claimed that demand remained strong and that inventory levels were “normal.” The Company revealed a 12% sales decline in the business on August 19, 2025, claimed it was “normalization of channel inventories.” Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about James Hardie, investors suffered damages.

Join the case to recover your losses

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.        

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

The Schall Law Firm

BT Group PLC (LSE:BT.A) second-quarter results this Thursday may reveal more broadband customers switching away from its Openreach arm than investors expect, reckons UBS.

Analyst Polo Tang, who has a 'sell' rating and 135p price target on the shares compared to the last close price of 183p, with BT’s network infrastructure arm ongoing line losses also signalling mounting competitive pressure and revenue risk that recent broadband price cuts and cost savings may not be enough to offset.

Openreach has been losing lines at a faster pace than previous guidance indicated, Tang said, due to increased churn to alternative fibre providers – AKA altnets – such as CityFibre and Community Fibre, following new wholesale agreements with major players like Sky and Vodafone.

Line losses in the June quarter totalled 169,000, following 208,000 and 243,000 in the two preceding quarters, compared with BT’s full-year guidance of 900,000 line losses.

The analyst thinks losses in the upcoming quarter could exceed the -221,000 consensus estimate, citing stronger net adds at competitors and limited mitigating effects from Openreach’s temporary pricing offer.

To stem the outflow, Openreach has temporarily reduced wholesale FTTP pricing to £16.50 per month, aligning it with slower legacy copper-wire VDSL products to encourage upgrades.

While this may help reduce churn, Tang warns it will come at the expense of both Openreach and BT Consumer revenues, and may not be enough to reverse broader pressure on broadband market share.

He also notes that Openreach’s move to cut prices for 1.2Gbit/s and 1.8Gbit/s services by up to 24% – pending Ofcom approval – is unlikely to materially improve competitiveness, given that most users remain on sub-80Mbit/s packages and altnets already offer wholesale pricing at £13–£16 per month.

Tang envisions further downside risk to BT’s medium-term earnings profile forecasts due to a longer-term decline in Openreach revenues to £5 billion per year from £6 billion currently, assuming Openreach’s broadband infrastructure market share eventually declines to around 45%, from over 60% today.

While BT has historically benefitted from its cost-saving plans, the analyst doubts this will fully counterbalance the dual pressure of subscriber losses and declining average revenue per user (ARPU), especially if pricing remains subdued.

Axcelis Technologies (ACLS - Free Report) came out with quarterly earnings of $1.21 per share, beating the Zacks Consensus Estimate of $1.01 per share. This compares to earnings of $1.49 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +19.80%. A quarter ago, it was expected that this semiconductor services company would post earnings of $0.73 per share when it actually produced earnings of $1.13, delivering a surprise of +54.79%.

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

Axcelis, which belongs to the Zacks Electronics - Manufacturing Machinery industry, posted revenues of $213.61 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 6.65%. This compares to year-ago revenues of $256.56 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.

Axcelis shares have added about 18.4% since the beginning of the year versus the S&P 500's gain of 16.5%.

What's Next for Axcelis?While Axcelis has outperformed 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 Axcelis 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 $0.97 on $201 million in revenues for the coming quarter and $4.13 on $788.45 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, Electronics - Manufacturing Machinery is currently in the bottom 29% 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.

Veeco Instruments (VECO - 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 5.

This precision manufacturing equipment maker is expected to post quarterly earnings of $0.28 per share in its upcoming report, which represents a year-over-year change of -39.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Veeco Instruments' revenues are expected to be $160 million, down 13.4% from the year-ago quarter.

SummaryGlobal EV sales surged in Q3 due to U.S. subsidy pull-forward effects, but October saw a reversal with declining sales in the US.BYD Company Limited remains the world's EV volume leader, yet October sales dropped 12% year-over-year amid fierce Chinese competition.NIO Inc. and XPeng Inc. posted strong October growth, gaining market share in China, while Li Auto Inc. lagged.U.S. EV makers face headwinds from expired subsidies, while Chinese players like NIO and XPEV continue to benefit from robust domestic demand. Justin Paget/DigitalVision via Getty Images

Article Thesis Q3 was a quarter with strong global EV sales, largely due to a one-time impact from subsidy changes in the U.S. In October, we have now seen this trend reverse -- EV sales were lower. In China, competition remains

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.

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GSK PLC's (LSE:GSK, NYSE:GSK) latest quarter looked strong enough on pape, but the share price barely moved.

The drugmaker has spent much of the past decade trapped between £15 and £18, and Deutsche Bank thinks that pattern is unlikely to change soon.

Third-quarter results brought a brief burst of enthusiasm, helped by solid growth and a renewed push behind the company’s long-term sales goal of £40 billion by 2031.

That target, first set by outgoing chief executive Emma Walmsley, was reaffirmed by her successor during the results call, soothing any fears of a strategic reset.

Management also stuck to its forecast of operating margins above 31% in 2026, with room for further improvement beyond that.

Even so, Deutsche argues the stock’s valuation tells a story of cautious realism. Earnings per share have been rising steadily, but the market’s willingness to pay up for them has waned.

The bank points out that GSK’s price-to-earnings multiple has compressed from the mid-teens to the high single digits over time, a reflection of investors’ wariness about patent expiries, notably the looming loss of exclusivity for its HIV treatment dolutegravir around 2028–29.

With shares closing at 1,777.5p (up 1%), GSK now trades above Deutsche’s new target range of 1,450p to 1,600p.

The rating stays at “hold”, and the tone is one of tempered respect: a business executing well, but hemmed in by its own maturity. For now, steady rather than spectacular looks to be the GSK way.

Midnight Sun Mining Corp (TSX-V:MMA, OTCQB:MDNGF) announced initial assay results, representing eight diamond drill holes, from the 2025 drilling campaign on the Kazhiba Main target at its flagship Solwezi Project in Zambia, which included 7.39% copper over 14.86 metres (m) from 17m to 31.86m depth in hole MSZ-25-029E.  

The exploration company said drilling has intercepted new zones of “significant” oxide copper mineralization within the existing mineralized footprint.  

"We are quickly and systematically marching Kazhiba toward a maiden resource, due before the end of the year," Midnight Sun Mining CEO Al Fabbro said in a statement.  

"Kazhiba Main is an extraordinary, high-grade, near surface opportunity, and our team has taken all the right steps to properly define this unique, highly variable, oxide copper deposit." 

Midnight Sun noted that the 2025 resource-edge definition campaign at Kazhiba-Main is now complete, with 163 holes drilled totalling 5,243m.  

It added that assays for the 2025 reverse circulation (RC) program are pending and will be incorporated into a maiden NI 43-101 resource estimate that is expected to be completed in the fourth quarter of 2025.  

As well, diamond drilling at Kazhiba Main is expected to continue through the end of November 2025, according to the company.  

Midnight Sun Mining also announced that the Kazhiba East RC drilling program is now underway, which is designed to test three Partial Ionic Leach soil sample copper anomalies from the 2024 campaign and is planned to comprise of a total of 100 RC drill holes.  

The company said three Kazhiba East target areas have the same characteristics and geological profile as Kazhiba Main, thus representing expansion potential for more near-surface oxide resources at Kazhiba. 

Nvidia is playing fast and loose with its war chest as it looks to build on its momentum as the chief benefactor of the AI boom.

The company on Tuesday signed a €1 billion ($1.15 billion) partnership with Deutsche Telekom to set up an “AI factory” in Munich that aims to boost Germany’s AI computing power by 50%.

Called the “Industrial AI Cloud,” the project will use more than 1,000 Nvidia DGX B200 systems and RTX Pro Servers with up to 10,000 Blackwell GPUs to provide AI inferencing and other services to German companies while complying with German data sovereignty laws.

Deutsche Telecom said early partners of the project include Agile Robots, whose bots will be used to install server racks at the facility, and Perplexity, which will use the data center to provide “in-country” AI inferencing to German users and companies. The telco also outlined digital twins and physics-based simulation as use cases for industrial companies.

The telecom company said it would provide the physical infrastructure for the project, while SAP will provide its Business Technology platform and applications.

The partnership comes at a time when the European tech industry has been calling on EU lawmakers to reduce their reliance on foreign infrastructure and service providers, and foster adoption of homegrown alternatives. At the same time, tech companies have been criticizing the bloc’s approach to regulating AI, arguing that the rules only serve to hold back innovation.

The EU earlier this year committed €200 billion to set up “AI gigafactories” on the continent, focusing on “industrial and mission-critical applications.” But funding for AI initiatives in the European Union has been notably lower than in the U.S., where companies like Nvidia, Microsoft, Google, and Oracle have pumped in hundreds of billions to build massive data centers and assorted infrastructure to support development of AI models and services.

Deutsche Telekom noted that this project, expected to start operations in early 2026, is separate from the EU’s AI gigafactory initiative.

“Mechanical engineering and industry have made this country strong,” says Tim Höttges, CEO of Deutsche Telekom. “But here, too, we are challenged. AI is a huge opportunity. It will help to improve our products and strengthen our European strengths.”

Ram is a financial and tech reporter and editor. He covered North American and European M&A, equity, regulatory news and debt markets at Reuters and Acuris Global, and has also written about travel, tourism, entertainment and books.

You can contact or verify outreach from Ram by emailing [email protected].

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Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has been certified by the Association for Uncrewed Vehicle Systems International (AUVSI) as a Trusted Uncrewed Maritime Systems (UMS) Operator Training Provider.

The certification designates OPT as one of a select group of organizations authorized to deliver AUVSI-aligned operator training under the first industry-led framework for uncrewed maritime systems.

Ocean Power Technologies said the certification represents an important step in advancing the professionalization of uncrewed surface vehicle (USV) operations.

The company will offer comprehensive training for government, defense, commercial, and academic professionals seeking certification in USV operations, using its proprietary WAM-V (Wave Adaptive Modular Vessel) platform.

Training will be conducted at OPT’s Atlantic and Pacific Ocean facilities as well as at customer locations.

The company noted that the program is revenue-generating and designed to support consistent standards for operational proficiency, safety, and ethics across the maritime autonomy sector.

The AUVSI Trusted UMS Operator Program builds on the organization’s earlier framework for aerial systems and aims to establish uniform best practices for operators in the growing uncrewed maritime industry.

“Receiving AUVSI certification as a Trusted UMS Operator Training Provider underscores our commitment to advancing safe, effective, and professional uncrewed operations,” OPT senior vice president, commercial sales Jason Weed said in a statement.

“Our WAM-V systems are being used worldwide for defense, research, and commercial applications, and we believe this training program ensures operators are fully prepared to meet mission objectives with the highest standards of safety and competency.”

REDMOND, WASHINGTON / ACCESS Newswire / November 4, 2025 / MicroVision, Inc. (NASDAQ:MVIS),a technology pioneer delivering advanced perception solutions in autonomy and mobility, today announces that it will report its third quarter 2025 results on Tuesday, November 11, 2025 after the market close. The Company will subsequently hold a conference call and webcast, consisting of prepared remarks by management and a question-and-answer session at 1:30 PM PT/4:30 PM ET on Tuesday, November 11, 2025 to discuss the financial results and provide a business update.

China is in a brutal battle with the United States to gain the upper hand in artificial intelligence (AI) development.

SunCoke Energy (SXC - Free Report) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +85.71%. A quarter ago, it was expected that this metallurgical coke producer would post earnings of $0.15 per share when it actually produced earnings of $0.02, delivering a surprise of -86.67%.

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

SunCoke, which belongs to the Zacks Coal industry, posted revenues of $487 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 42.69%. This compares to year-ago revenues of $490.1 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.

SunCoke shares have lost about 23% since the beginning of the year versus the S&P 500's gain of 16.5%.

What's Next for SunCoke?While SunCoke 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 SunCoke 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 $0.20 on $363.8 million in revenues for the coming quarter and $0.56 on $1.58 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, Coal is currently in the bottom 4% 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.

Core Natural Resources (CNR - 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 6.

This coal company is expected to post quarterly loss of $1.40 per share in its upcoming report, which represents a year-over-year change of -143.5%. The consensus EPS estimate for the quarter has been revised 46.4% lower over the last 30 days to the current level.

Core Natural Resources' revenues are expected to be $1.04 billion, up 81.5% from the year-ago quarter.

Compass, Inc. (COMP - Free Report) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of a loss of $0.02. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +50.00%. A quarter ago, it was expected that this company would post earnings of $0.07 per share when it actually produced earnings of $0.07, delivering no surprise.

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

Compass, which belongs to the Zacks Internet - Software industry, posted revenues of $1.85 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 3.32%. This compares to year-ago revenues of $1.49 billion. 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.

Compass shares have added about 33% since the beginning of the year versus the S&P 500's gain of 16.5%.

What's Next for Compass?While Compass has outperformed 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 Compass 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 -$0.08 on $1.64 billion in revenues for the coming quarter and -$0.12 on $6.85 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, Internet - Software is currently in the top 32% 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.

StoneCo Ltd. (STNE - 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 6.

This company is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of +22.9%. The consensus EPS estimate for the quarter has been revised 13.6% higher over the last 30 days to the current level.

StoneCo Ltd.'s revenues are expected to be $700.74 million, up 15.7% from the year-ago quarter.