Market Signal Briefing

NEWARK, Del., Oct. 30, 2025 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider on the Delmarva Peninsula of water and wastewater services, and a number of other related business services, today announced third quarter and year-to-date results for 2025.  

Diluted net income per share increased to $0.68 in the third quarter and $1.81 year-to-dateNet income increased $0.1 million (2.2%) in the third quarter and $2.1 million (12.9%) year-to-dateInvested $40.5 million year-to-date in water and wastewater infrastructure Third Quarter Results

Net income for the three months ended September 30, 2025 was $7.0 million, a $0.1 million, or 2.2%, increase compared to net income for the three months ended September 30, 2024. Diluted net income per share increased 3.0% to $0.68, compared to $0.66 for the same period in 2024.

Revenues totaled $30.5 million for the three months ended September 30, 2025, $1.3 million, or 4.6%, more than revenues for the three months ended September 30, 2024.

Water sales revenue increased $0.7 million, or 3.1%, primarily the result of a temporary rate increase placed into effect on June 3, 2025, as permitted under Delaware law, until permanent rates are determined by the Delaware Public Service Commission, or DEPSC, as well as an increase in the number of customers served, partially offset by a slight decrease in consumption.

Other utility operating revenue increased approximately $0.4 million, or 12.6%, primarily due to an increase in wastewater revenue associated with additional customers served.

Non-utility operating revenue increased approximately $0.2 million, or 10.8%, primarily due to an increase in Service Line Protection Plan, or SLP Plan, revenue, resulting from an increase in rates placed into effect on December 1, 2024.

Operating expenses, excluding depreciation and income taxes, increased $1.0 million, or 6.7%, for the three months ended September 30, 2025, compared to the same period in 2024. Utility operating expenses increased $1.3 million, or 10.8%. The increase in utility operating expenses consists of a $0.7 million increase in payroll and employee benefit costs, a $0.4 million increase in supply and treatment costs, a $0.2 million increase in administrative costs, and a $0.1 million increase in transmission, distribution and collection system costs. The increase in utility operating expenses is partially offset by a $0.1 million decrease in purchased water costs.

Depreciation and amortization expense increased $0.2 million, or 6.4%, primarily due to additional depreciation from continued investment in utility plant related to providing supply, treatment, storage and distribution of water to customers and service to our wastewater customers.

Federal and state income tax expense increased $0.1 million, or 5.0%, primarily due to higher pre-tax book income.

Property and other taxes decreased $0.4 million, primarily due to a decrease in tax rates on utility plant partially offset by an increase in utility plant subject to taxation.

Other income increased $0.1 million, primarily due to an increase in allowance for funds used during construction, or AFUDC, as a result of higher long-term construction activity subject to AFUDC.

“Artesian continues to execute our strategic growth plan for water and wastewater services, expanding our customer base in a manner that strengthens operational efficiency and supports sustainable growth,” said Nicki Taylor, Chair, President and CEO. “Looking ahead, we remain focused on operational excellence, regulatory compliance and strong financial management. This approach supports the long-term interests of our customers and reinforces the continued strength and stability of our company for our shareholders.”

Year-to-Date Results

Net income for the nine months ended September 30, 2025 was $18.7 million, a $2.1 million, or 12.9%, increase compared to net income for the nine months ended September 30, 2024. Diluted net income per share increased 12.4% to $1.81, compared to $1.61 for the same period in 2024.

Revenues totaled $84.9 million for the nine months ended September 30, 2025, $3.8 million, or 4.7%, more than revenues for the nine months ended September 30, 2024.

Water sales revenue increased $2.2 million, or 3.3%, primarily the result of a temporary rate increase placed into effect on June 3, 2025, as well as an increase in the number of customers served, DSIC revenue and overall water consumption.

Other utility operating revenue increased approximately $1.1 million, or 11.6%, primarily due to an increase in wastewater revenue associated with customer growth.

Non-utility operating revenue increased approximately $0.5 million, or 10.3%, primarily due to an increase in SLP Plan revenue, resulting from an increase in rates that were placed into effect on December 1, 2024.

Operating expenses, excluding depreciation and income taxes, increased $1.7 million, or 3.9%. Utility operating expenses increased $2.0 million, or 5.5%. The increase in utility operating expenses consists of a $0.7 million increase in administrative costs, a $0.5 million increase in payroll and employee benefit costs, a $0.4 million increase in transmission, distribution and collection system costs, a $0.3 million increase in purchased power costs and a $0.2 million increase in supply and treatment costs. The increase in utility operating expenses is partially offset by a $0.1 million decrease in purchased water costs.

Non-utility operating expenses decreased $0.1 million, or 2.2%, primarily due to a decrease in payroll and employee benefit costs.

Depreciation and amortization expense increased $0.1 million, or 0.9%, primarily due to additional depreciation from continued investment in utility plant related to providing supply, treatment, storage and distribution of water to customers and service to our wastewater customers.

Federal and state income tax expense increased $0.5 million, or 8.5%, primarily due to higher pre-tax book income, partially offset by higher regulatory deferred income tax amortization in 2025 compared to 2024.

Property and other taxes decreased $0.2 million, or 4.4%, primarily due to a decrease in tax rates on utility plant partially offset by an increase in utility plant subject to taxation.

Other income increased $0.6 million, or 23.5%, primarily as a result of higher long-term construction activity subject to AFUDC.

Capital Expenditures

As part of Artesian’s ongoing effort to ensure high-quality, reliable service to customers, $40.5 million was invested in the first nine months of 2025 in water and wastewater infrastructure projects. These investments include renewals associated with the rehabilitation of aging infrastructure, installation of new mains, construction of a new wastewater treatment plant, upgrading elevated storage tanks, upgrading and replacing our meter reading equipment, and upgrading existing pumping and treatment stations, including PFAS treatment upgrades, to better serve our customers.

“Artesian continues to make significant investments in infrastructure to address aging assets and ensure continued reliability across our water and wastewater systems. These investments not only maintain compliance with more stringent state regulatory standards but also position us well ahead of anticipated federal requirements,” said Nicki Taylor.

About Artesian Resources
Artesian Resources Corporation operates as a holding company of wholly-owned subsidiaries offering water and wastewater services, and a number of other related core business services, on the Delmarva Peninsula. Artesian Water Company, the principal subsidiary, is the oldest and largest regulated water utility on the Delmarva Peninsula and has been providing water service since 1905. Artesian Water Company supplies 9.4 billion gallons of water per year through 1,491 miles of main to over a third of Delawareans.

Forward Looking Statements
This release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, our growth strategy, our expectations regarding infrastructure investments, our ability to comply with future regulatory standards, continued growth in our business and the number of customers served, and our continued provision of high-quality, reliable service to customers. These statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: changes in weather, changes in our contractual obligations, changes in government policies, the timing and results of our rate requests, failure to receive regulatory approvals, changes in economic and market conditions generally and other matters discussed in our filings with the Securities and Exchange Commission. While the Company may elect to update forward-looking statements, we specifically disclaim any obligation to do so and you should not rely on any forward-looking statement as representation of the Company’s views as of any date subsequent to the date of this release.

Contact:
Virginia Eisenbrey
(302) 453-6900
[email protected]

  Artesian Resources CorporationCondensed Consolidated Statement of Operations(In thousands, except per share amounts)(Unaudited)               Three months ended  Nine months ended  September 30,  September 30,  2025   2024   2025  2024 Operating Revenues            Water sales$24,837  $24,092  $68,608 $66,419 Other utility operating revenue 3,780   3,358   10,777  9,661 Non-utility operating revenue 1,874   1,692   5,541  5,022   30,491   29,142   84,926  81,102              Operating Expenses            Utility operating expenses 13,431   12,125   38,261  36,261 Non-utility operating expenses 1,265   1,213   3,396  3,474 Depreciation and amortization 3,497   3,287   10,268  10,177 State and federal income taxes 2,473   2,355   6,488  5,982 Property and other taxes 1,206   1,572   4,494  4,700   21,872   20,552   62,907  60,594              Operating Income 8,619   8,590   22,019  20,508              Allowance for funds used during construction 584   474   1,771  1,126 Miscellaneous (48)  (58)  1,411  1,450              Income Before Interest Charges 9,155   9,006   25,201  23,084              Interest Charges 2,193   2,193   6,514  6,535              Net Income$6,962  $6,813  $18,687 $16,549              Weighted Average Common Shares Outstanding - Basic 10,312   10,297   10,308  10,293 Net Income per Common Share - Basic$0.68  $0.66  $1.81 $1.61              Weighted Average Common Shares Outstanding - Diluted 10,314   10,298   10,309  10,294 Net Income per Common Share - Diluted$0.68  $0.66  $1.81 $1.61              Artesian Resources Corporation      Condensed Consolidated Balance Sheet      (In thousands)      (Unaudited)                    September 30, December 31,        2025
 2024
       Assets            Utility Plant, at original cost less            accumulated depreciation$788,318  $747,186        Current Assets 19,577   24,528        Regulatory and Other Assets 26,013   26,909         $833,908  $798,623                     Capitalization and Liabilities                         Stockholders' Equity$248,843  $239,189        Long Term Debt, Net of Current Portion 174,660   176,509        Current Liabilities 28,972   25,593        Advances for Construction 1,369   1,582        Contributions in Aid of Construction 298,789   272,405        Other Liabilities 81,275   83,345         $833,908  $798,623                     

MDST ETF Surpasses $150 million and Captured 30% of September Monthly Midstream ETF Flows
WEBs Partnership Launches Eleven New Sector ETFs
Private Fund Raising Exceeds Expectations

DALLAS, Oct. 30, 2025 (GLOBE NEWSWIRE) -- Westwood Holdings Group, Inc. (NYSE: WHG) today reported third quarter 2025 earnings. Significant items included:

Investment strategies beating their primary benchmarks included Income Opportunity, Multi-Asset Income, Alternative Income, Credit Opportunities, Real Estate Income and Tactical Growth.Income Opportunity and Multi-Asset Income each posted top quartile rankings vs. peers and Real Estate Income posted a top decile ranking.Quarterly revenues totaled $24.3 million vs. $23.1 million in the second quarter and $23.7 million a year ago. Income of $3.7 million compared with $1.0 million in the second quarter and $0.1 million in 2024's third quarter.Non-GAAP Economic Earnings of $5.7 million compared with $2.8 million in the second quarter and $1.1 million in the third quarter of 2024.Westwood held $39.2 million in cash and liquid investments as of September 30, 2025, up $6.1 million from the second quarter. Stockholders' equity totaled $123.9 million and we carry no debt.We declared a cash dividend of $0.15 per common share, payable on January 2, 2026 to stockholders of record on December 1, 2025. Brian Casey, Westwood’s CEO, commented, "The third quarter demonstrated the strength of our diversified platform in multiple ways. Our private fund strategies have already surpassed our annual fundraising goal. Our MDST exchange-traded fund ("ETF") reached $150 million in assets and captured 30% of monthly midstream ETF flows in September, while our partnership with WEBs expanded, adding eleven new Defined Volatility sector ETFs that provide a disciplined approach to potentially boost returns in sector investing. Our long-term performance rankings remain solid, with Income Opportunity maintaining its top decile since-inception ranking and it recently received a four-star Morningstar rating upgrade. As market leadership broadens out and investors seek quality and value, we believe Westwood is well-positioned to capitalize on these opportunities."

Firmwide assets under management and advisement totaled $18.3 billion, consisting of assets under management ("AUM") of $17.3 billion and assets under advisement ("AUA") of $1.0 billion.

Third quarter revenues exceeded the second quarter due to higher average AUM. Third quarter net income of $3.7 million beat the second quarter's net income of $1.0 million on higher revenues and unrealized appreciation on private investments, partially offset by higher income taxes. Diluted earnings per share ("EPS") of $0.41 compared to $0.12 for the second quarter. Non-GAAP Economic Earnings of $5.7 million, or $0.64 per share, compared with $2.8 million, or $0.32 per share, in the second quarter.

Third quarter revenues were higher than last year's third quarter due to higher average AUM. Third quarter net income of $3.7 million compared favorably to last year's third quarter income of $0.1 million due to 2025's higher revenues and unrealized appreciation on private investments and changes in the fair value of contingent consideration in 2024, all partially offset by higher income taxes in 2025. Diluted EPS of $0.41 compared with $0.01 for 2024's third quarter. Non-GAAP Economic Earnings were $5.7 million, or $0.64 per share, compared with $1.1 million, or $0.13 per share, in the third quarter of 2024.

Economic Earnings and Economic EPS are non-GAAP performance measures and are explained and reconciled with the most comparable GAAP numbers in the attached tables.

Westwood will host a conference call to discuss third quarter 2025 results and other business matters at 4:30 p.m. Eastern time today. To join the conference call, please register here:

https://register-conf.media-server.com/register/BI168009bacb7044b4a4f4f99ad9059393

After registering, you will be provided with a dial-in number containing a personalized PIN.

To view the webcast, please register here:

https://edge.media-server.com/mmc/p/im52ppzb

Once registered, an email will be sent with important details for this conference call, as well as a unique Registrant ID.

ABOUT WESTWOOD HOLDINGS GROUP

Westwood Holdings Group (NYSE: WHG) is a boutique asset management firm that offers a diverse array of actively-managed and outcome-oriented investment strategies, along with white-glove trust and wealth services, to institutional, intermediary and private wealth clients. For over 40 years, Westwood’s client-first approach has fostered strong, long-term client relationships due to our unwavering commitment to delivering bespoke investment strategies with a vehicle-optimized approach, exceptional counsel and unparalleled client service. Our flexible and agile approach to investing allows us to adapt to constantly changing markets, while continually seeking innovative strategies that meet our investors’ short and long-term needs.

Our team at Westwood comes from varied backgrounds and life experiences, which reflects our origins as a woman-founded firm. We are committed to incorporating diverse insights and knowledge into all aspects of our services and solutions. Our culture and approach to our business reflect our core values - integrity, reliability, responsiveness, adaptability, teamwork and driving results - and underpin our constant pursuit of excellence.

For more information on Westwood, please visit westwoodgroup.com.

Forward-looking Statements

Statements in this press release that are not purely historical facts, including, without limitation, statements about our expected future financial position, results of operations or cash flows, as well as other statements including without limitation, words such as “anticipate,” “believe,” “expect,” “could,” and other similar expressions, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results and the timing of some events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including, without limitation: the composition and market value of our AUM and AUA; our ability to maintain our fee structure in light of competitive fee pressures; risks associated with actions of activist stockholders; distributions to our common stockholders have included and may in the future include a return of capital; inclusion of foreign company investments in our AUM; regulations adversely affecting the financial services industry; our ability to maintain effective cyber security; litigation risks; our ability to develop and market new investment strategies successfully; our reputation and our relationships with current and potential customers; our ability to attract and retain qualified personnel; our ability to perform operational tasks; our ability to select and oversee third-party vendors; our dependence on the operations and funds of our subsidiaries; our ability to maintain effective information systems; our ability to prevent misuse of assets and information in the possession of our employees and third-party vendors, which could damage our reputation and result in costly litigation and liability for our clients and us; our stock is thinly traded and may be subject to volatility; competition in the investment management industry; our ability to avoid termination of client agreements and the related investment redemptions; the significant concentration of our revenues in a small number of customers; we have made and may continue to make business combinations as a part of our business strategy, which may present certain risks and uncertainties; our relationships with investment consulting firms; our ability to identify and execute on our strategic initiatives; our ability to declare and pay dividends; our ability to fund future capital requirements on favorable terms; our ability to properly address conflicts of interest; our ability to maintain adequate insurance coverage; our ability to maintain an effective system of internal controls; and the other risks detailed from time to time in Westwood’s SEC filings, including, but not limited to, its annual report on Form 10-K for the year ended December 31, 2024 and its quarterly reports on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025 and September 30, 2025. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, Westwood is not obligated to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

SOURCE: Westwood Holdings Group, Inc.

(WHG-G)
CONTACT:
Westwood Holdings Group, Inc.
Terry Forbes
Chief Financial Officer and Treasurer
(214) 756-6900

WESTWOOD HOLDINGS GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share and share amounts)
(unaudited)
 Three Months Ended September 30, 2025 June 30, 2025 September 30, 2024REVENUES:     Advisory fees:     Asset-based$18,887  $17,955 $17,774 Trust fees 5,416   5,069  5,447 Other, net (14)  96  498 Total revenues 24,289   23,120  23,719 EXPENSES:     Employee compensation and benefits 13,286   13,472  13,572 Sales and marketing 633   657  644 Westwood funds 1,101   957  798 Information technology 2,893   2,704  2,572 Professional services 1,593   1,486  1,812 General and administrative 2,774   2,976  2,991 Loss from change in fair value of contingent consideration —   —  1,824 Total expenses 22,280   22,252  24,213 Net operating income (loss) 2,009   868  (494)Net change in unrealized appreciation (depreciation) on private investments 1,932   —  — Net investment income 459   343  587 Other income 292   257  374 Income before income taxes 4,692   1,468  467 Income tax provision 963   437  308 Net income$3,729  $1,031 $159 Less: income attributable to noncontrolling interest 30   12  54 Income attributable to Westwood Holdings Group, Inc.$3,699  $1,019 $105 Earnings per Westwood Holdings Group, Inc. share:     Basic$0.44  $0.12 $0.01 Diluted$0.41  $0.12 $0.01 Weighted average shares outstanding:     Basic 8,418,174   8,404,859  8,123,714 Diluted 8,941,347   8,813,606  8,488,372 Economic Earnings$5,714  $2,792 $1,084 Economic EPS$0.64  $0.32 $0.13 Dividends declared per share$0.15  $0.15 $0.15  WESTWOOD HOLDINGS GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share and share amounts)
(unaudited)
 Nine Months Ended September 30, 2025 September 30, 2024REVENUES:   Advisory fees:   Asset-based$54,573 $51,730 Trust fees 15,914  15,787 Other, net 174  1,622 Total revenues 70,661  69,139 EXPENSES:   Employee compensation and benefits 41,259  41,921 Sales and marketing 2,050  2,027 Westwood funds 2,955  2,374 Information technology 8,264  7,212 Professional services 4,692  4,751 General and administrative 8,632  8,903 Loss from change in fair value of contingent consideration —  3,682 Total expenses 67,852  70,870 Net operating income (loss) 2,809  (1,731)Net change in unrealized appreciation (depreciation) on private investments 1,932  — Net investment income 1,185  1,590 Other income 826  783 Income before income taxes 6,752  642 Income tax provision 1,515  530 Net income$5,237 $112 Less: income (loss) attributable to noncontrolling interest 41  (46)Income attributable to Westwood Holdings Group, Inc.$5,196 $158 Earnings per share:   Basic$0.62 $0.02 Diluted$0.59 $0.02 Weighted average shares outstanding:   Basic 8,359,584  8,140,664 Diluted 8,846,168  8,448,629 Economic Earnings$11,020 $3,588 Economic EPS$1.25 $0.42 Dividends declared per share$0.45 $0.45  WESTWOOD HOLDINGS GROUP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except par value and share amounts)
(unaudited)
 September 30, 2025 December 31, 2024ASSETS   Cash and cash equivalents$21,604  $18,847 Accounts receivable 14,570   14,453 Investments, at fair value (amortized cost of $18,354 and $26,788) 19,729   27,694 Investments under measurement alternative 14,697   10,747 Equity method investments 4,263   4,250 Income taxes receivable —   295 Other assets 7,647   6,780 Goodwill 39,501   39,501 Deferred income taxes 2,556   2,244 Operating lease right-of-use assets 9,841   2,559 Intangible assets, net 18,981   21,668 Property and equipment, net of accumulated depreciation of $8,821 and $8,424 657   951 Total assets$154,046  $149,989 LIABILITIES AND STOCKHOLDERS’ EQUITY   Accounts payable and accrued liabilities$5,436  $6,413 Dividends payable 2,579   2,466 Compensation and benefits payable 8,808   10,924 Operating lease liabilities 10,323   3,197 Income taxes payable 921   — Contingent consideration —   4,657 Total liabilities 28,067   27,657 Stockholders’ Equity:   Common stock, $0.01 par value, authorized 25,000,000 shares, issued 12,391,817 and 12,137,080, respectively and outstanding 9,408,125 and 9,234,575, respectively 124   122 Additional paid-in capital 204,897   202,239 Treasury stock, at cost – 2,983,692 and 2,902,505 shares, respectively (89,612)  (88,277)Retained earnings 8,489   6,207 Total Westwood Holdings Group, Inc. stockholders’ equity 123,898   120,291 Noncontrolling interest in consolidated subsidiary 2,081   2,041 Total equity 125,979   122,332 Total liabilities and stockholders’ equity$154,046  $149,989          WESTWOOD HOLDINGS GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
 Nine Months Ended September 30,  2025   2024 CASH FLOWS FROM OPERATING ACTIVITIES:   Net income$5,237  $112 Adjustments to reconcile net income to net cash provided by operating activities:   Depreciation 376   464 Amortization of intangible assets 3,143   3,085 Net change in unrealized (appreciation) depreciation on investments (1,840)  (917)Stock-based compensation expense 3,925   4,321 Deferred income taxes (312)  (864)Non-cash lease expense 851   831 Fair value change of contingent consideration —   3,682 Changes in operating assets and liabilities:   Accounts receivable (117)  (202)Other assets (867)  (644)Accounts payable and accrued liabilities (1,006)  (1,192)Compensation and benefits payable (2,115)  (1,254)Income taxes receivable and payable 1,216   (434)Other liabilities (949)  (1,041)Net sales of trading securities 7,842   6,267 Contingent consideration (4,442)  — Net cash provided by operating activities 10,942   12,214 CASH FLOWS FROM INVESTING ACTIVITIES:   Purchases of property and equipment (82)  (34)Purchases of investments (2,000)  (1,500)Additions to internally developed software (449)  — Net cash used in investing activities (2,531)  (1,534)CASH FLOWS FROM FINANCING ACTIVITIES:   Purchases of treasury stock —   (1,348)Restricted stock returned for payment of taxes (1,335)  (940)Payment of contingent consideration in acquisition (201)  (1,815)Cash dividends (4,118)  (4,209)Net cash used in financing activities (5,654)  (8,312)NET CHANGE IN CASH AND CASH EQUIVALENTS 2,757   2,368 Cash and cash equivalents, beginning of period 18,847   20,422 Cash and cash equivalents, end of period$21,604  $22,790 SUPPLEMENTAL CASH FLOW INFORMATION:   Cash paid during the period for income taxes$609  $1,817 Accrued dividends$2,579  $2,336 Operating lease assets obtained in exchange for operating lease liabilities$8,133  $— 
WESTWOOD HOLDINGS GROUP, INC.
Reconciliation of Income Attributable to Westwood Holdings Group, Inc. to Economic Earnings
(in thousands, except per share and share amounts)
(unaudited)

As supplemental information, we are providing non-GAAP performance measures that we refer to as Economic earnings and Economic earnings per share. We provide these measures in addition to, not as a substitute for, income attributable to Westwood Holdings Group, Inc. and earnings per share, which are reported on a GAAP basis. Our management and Board of Directors review Economic earnings and Economic earnings per share to evaluate our ongoing performance, allocate resources, and review our dividend policy. We believe that these non-GAAP performance measures, while not substitutes for GAAP income attributable to Westwood Holdings Group, Inc. or earnings per share, are useful for management and investors when evaluating our underlying operating and financial performance and our available resources. We do not advocate that investors consider these non-GAAP measures without also considering financial information prepared in accordance with GAAP.

We define Economic earnings as income attributable to Westwood Holdings Group, Inc. plus non-cash equity-based compensation expense, amortization of intangible assets and deferred taxes related to goodwill. Although depreciation on fixed assets is a non-cash expense, we do not add it back when calculating Economic earnings because depreciation charges represent an allocation of the decline in the value of the related assets that will ultimately require replacement. Although gains and losses from changes in the fair value of contingent consideration are non-cash, we do not add or subtract those back when calculating Economic earnings because gains and losses on changes in the fair value of contingent consideration are considered regular following an acquisition. In addition, we do not adjust Economic earnings for tax deductions related to restricted stock expense or amortization of intangible assets. Economic earnings per share represents Economic earnings divided by diluted weighted average shares outstanding.

 Three Months Ended September 30, 2025 June 30, 2025 September 30, 2024Income attributable to Westwood Holdings Group, Inc.$3,699  $1,019  $105 Stock-based compensation expense 1,303   1,295   1,409 Intangible amortization 1,061   1,037   1,011 Tax benefit from goodwill amortization 136   136   156 Tax impact of adjustments to GAAP income (485)  (695)  (1,597)Economic earnings$5,714  $2,792  $1,084 Earnings per share$0.41  $0.12  $0.01 Stock-based compensation expense 0.15   0.15   0.17 Intangible amortization 0.11   0.11   0.12 Tax benefit from goodwill amortization 0.02   0.02   0.02 Tax impact of adjustments to GAAP income (0.05)  (0.08)  (0.19)Economic earnings per share$0.64  $0.32  $0.13 Diluted weighted average shares 8,941,347   8,813,606   8,488,372          Nine Months Ended   September 30, 2025 September 30, 2024Income attributable to Westwood Holdings Group, Inc.  $5,196  $158 Stock-based compensation expense   3,925   4,321 Intangible amortization   3,143   3,085 Tax benefit from goodwill amortization   396   437 Tax impact of adjustments to GAAP income   (1,640)  (4,413)Economic earnings  $11,020  $3,588 Earnings per share  $0.59  $0.02 Stock-based compensation expense   0.44   0.50 Intangible amortization   0.37   0.37 Tax benefit from goodwill amortization   0.04   0.05 Tax impact of adjustments to GAAP income   (0.19)  (0.52)Economic earnings per share  $1.25  $0.42 Diluted weighted average shares   8,846,168   8,448,629 

Ronald Farnsworth, Executive Vice President, CFO, to Step Down

Ivan Seda, Deputy CFO, Appointed CFO, Effective December 31, 2025

, /PRNewswire/ -- Columbia Banking System, Inc. ("Columbia") (Nasdaq: COLB), the parent company of Columbia Bank, today announced that Ronald Farnsworth will step down as Executive Vice President, Chief Financial Officer, effective December 31, 2025. Farnsworth has served as Columbia's Chief Financial Officer since March 2023 and previously served as Executive Vice President, Chief Financial Officer of Umpqua Holdings Corporation and Umpqua Bank from 2008 until its merger with Columbia in 2023. Farnsworth will serve as an advisor to the Company through June 1, 2026, to ensure a smooth transition.

Ivan Seda, Columbia's Deputy Chief Financial Officer, will succeed Farnsworth as Chief Financial Officer, effective December 31, 2025. Prior to joining Columbia in August 2025, Seda held several financial executive roles, including as Chief Financial Officer at Union Bank and Head of Financial Planning & Analysis and Head of Corporate Finance and Strategy – Americas at MUFG. Most recently, Seda was Deputy Chief Financial Officer at BECU.

"Ron has played a key role in establishing Columbia as the leading Western banking franchise, optimizing our performance and better positioning the business to meaningfully expand long-term shareholder value. We are grateful to Ron for his many contributions to the Company and wish him the very best in his future endeavors," said Clint Stein, CEO of Columbia.

"As we enter a new chapter for Columbia following the close of our Pacific Premier acquisition, we look forward to working with Ivan in his new role as CFO beginning next year," Stein continued. "Early in his tenure at Columbia, he has already made meaningful contributions to our team, and we are confident he will help us build on our momentum. On behalf of the Board and management team, we congratulate Ivan on his new role."

Farnsworth said, "It has been a privilege to help lead Columbia during a transformative period of integration and optimization. I am confident that Ivan is well-positioned to step into the CFO role as the Company continues to deliver robust profitability and shareholder value creation. I look forward to working with Clint, Ivan and the rest of the team over the coming months to support a seamless transition."

Seda stated, "It's an honor to assume the role of CFO at such an exciting time in our company's history. Today, Columbia is a highly profitable regional powerhouse with a strong financial foundation, and I look forward to partnering with the entire Columbia team to build on our success by driving organic growth and delivering attractive shareholder returns."

Seda holds both a Master's in Accounting and a Bachelor of Arts in Business Administration from the University of Washington's Michael G. Foster School of Business. He is a Chartered Financial Analyst (CFA) and former Certified Public Accountant (CPA-Inactive). Seda is actively involved in the local community and currently serves as a board member for Seattle Aquarium.

Q3 2025 Financial Results

In a separate press release issued today, Columbia announced its financial results for the third quarter 2025. The Company will host a conference call with investors and analysts today at 5:00 p.m. ET to review its financial results.

About Columbia Banking System, Inc.
Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning western U.S. regional bank. Columbia Bank is the largest bank headquartered in the Northwest and one of the largest banks headquartered in the West with locations in Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.

SOURCE Columbia Banking System, Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+

Newsrooms &

Influencers

9k+

Digital Media

Outlets

270k+

Journalists

Opted In

Terex Corporation (TEX) Q3 2025 Earnings Call October 30, 2025 8:30 AM EDT

Company Participants

Derek Everitt
Simon Meester - President, CEO & Director
Jennifer Kong-Picarello - Senior VP & CFO

Conference Call Participants

Mark Skonieczny - REV Group, Inc.
Stephen Volkmann - Jefferies LLC, Research Division
Mircea Dobre - Robert W. Baird & Co. Incorporated, Research Division
Jamie Cook - Truist Securities, Inc., Research Division
David Raso - Evercore ISI Institutional Equities, Research Division
Timothy Thein - Raymond James & Associates, Inc., Research Division
Michael Shlisky - D.A. Davidson & Co., Research Division
Kyle Menges - Citigroup Inc., Research Division
Angel Castillo Malpica - Morgan Stanley, Research Division
Steve Barger - KeyBanc Capital Markets Inc., Research Division
Amy Campbell - REV Group, Inc.

Presentation

Operator

Greetings, and welcome to the Terex and REV Group merger call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Derek Everitt, Vice President of Investor Relations. Please go ahead.

Derek Everitt

Good morning, and thank you for joining us to discuss the planned merger of Terex Corporation and REV Group and Terex's intention to exit its Aerial segment. A copy of the related press release and presentation slides are posted at investors.terex.com and investors.revgroup.com. The replay and slide presentation will also be available on those websites. This morning, Terex also announced its third quarter 2025 earnings. The corresponding presentation and press release are posted at investors.terex.com. Please turn to Slide 2 of the merger presentation, which reflects our safe harbor statement.

Today's conference call contains forward-looking statements, which are subject to risks that could cause actual results to be materially different from those expressed or implied. These risks are described in greater detail in the presentation and in our reports filed with the SEC. In addition, we will be discussing non-GAAP financial information we believe is

Recommended For You

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.

-

Latest pricing trends indicate continued softening across the commercial property market while casualty lines face broad uncertainty

TAMPA, Fla.--(BUSINESS WIRE)--The Baldwin Group today released its Q3 2025 Market Pulse, a pricing trend analysis that blends observed rate movement with changes in exposure and client buying behavior to capture real-world premium dynamics across commercial insurance lines.

The report shows clear evidence of continued softening across the commercial property market —supported by renewed competition, improving capacity, and more flexible structures for well-differentiated risks—while casualty lines (General Liability, Commercial Auto, and Umbrella) continue to face broad uncertainty driven by legal system pressures, elevated claim severity, and selective underwriting.

“While property conditions continue to moderate, casualty outcomes remain highly situational after several years of being in a state of flux. We are no longer in a hard market -we’re in a disciplined one. Capital is available but is chasing quality. The winners will be those who treat risk management as a competitive advantage, not as a compliance exercise,” said Leslie Nylund, National Managing Director of Broking and Insurance Company Partnerships at The Baldwin Group.

Nylund added, “We are also seeing reinsurance coming back into the market in a robust way. For insureds, risk quality and transparency are the differentiators—strong controls and a differentiated underwriting narrative are what translate momentum into better terms in today’s bifurcated market. Competition is also allowing brokers to drive better terms and conditions for their clients enabling them to deliver meaningful insurance program enhancements.”

Property: Evidence of Continued Softening

The reinsurance market is softer than a year or two ago. Reinsurers have rebuilt balance sheets after recent catastrophe years and strong investment returns. Reinsurance pricing has softened, and capacity is available to absorb increased demand for catastrophe limits.

Competition and capacity continue to improve for clean, well-maintained schedules, with more orderly placements and broader structuring options, particularly outside distressed profiles.

Underwriters are rewarding verified mitigation and modernization (e.g., roof, water, and fire protection upgrades), elevating the role of resilience-led underwriting in outcomes.

Large CAT-exposed but loss-free accounts are seeing the most pronounced downward momentum, with shared/layered and alternative structures (including parametric solutions) used to manage volatility and optimize cost.

Small- to mid-sized accounts written on a package or similar product are seeing pricing changes that are less dramatic, but competition is emerging.

London capacity as well as emerging MGA/MGUs are placing competitive pressure on incumbents.

Casualty: Broad Uncertainty Persists

General Liability: Mixed conditions continue. Lower-hazard classes see steadier outcomes amid competition, while higher-hazard and loss-affected risks face tighter terms, venue sensitivity, and heightened attention to exclusions and retentions.

Commercial Auto: Profitability headwinds endure, driven by legal system abuse, higher repair and medical costs, and workforce dynamics. Keys to improved outcomes include insurers prioritizing telematics, driver monitoring, and fleet maintenance.

Umbrella/Excess: Capacity deployment remains selective with reinsurance dynamics influencing higher attachments and more complex tower structures; incumbency and loss experience are central to renewal stability.

Casualty Lines: Pressure from social inflation /litigation costs. Higher jury awards, cross-border plaintiffs’ strategies and evolving legal pressure continue to push claims severity higher in Casualty.

The report concludes that Property markets continue to soften while Casualty uncertainty persists. It remains too early to tell whether easing trends will impact Management Liability. Cyber remains top of agenda – but coverage is evolving and Workers’ Compensation — coupled with this year’s Property market reversal — will introduce more competition in Casualty lines. Some insurance company partners may pursue growth strategies that pressure pricing in certain industries, while others will maintain focus on rate adequacy as core loss drivers, including social inflation, remain unresolved.

ABOUT MARKET PULSE AND WHAT IT MEASURES

The Baldwin Group’s Market Pulse Report is a quarterly pricing trend analysis based on aggregated client data. It reflects the combined impact of rate changes, exposure shifts, and client purchasing decisions (such as limits and deductibles)—providing directional trend insight rather than line-by-line rate guidance. It draws on proprietary data, broker insights, and insurance company partner feedback offers a forward-looking view of the market dynamics shaping coverage availability, pricing, and risk appetite nationwide.

ABOUT THE BALDWIN GROUP

The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (NASDAQ: BWIN) (“Baldwin”) and its affiliates, is an independent insurance distribution firm providing indispensable expertise and insights that strive to give our clients the confidence to pursue their purpose, passion, and dreams. As a team of dedicated entrepreneurs and insurance professionals, we have come together to help protect the possible for our clients. We do this by delivering bespoke client solutions, services, and innovation through our comprehensive and tailored approach to risk management, insurance, and employee benefits. We support our clients, colleagues, insurance company partners, and communities through the deployment of vanguard resources and capital to drive our organic and inorganic growth. The Baldwin Group proudly represents more than three million clients across the United States and internationally. For more information, please visit www.baldwin.com.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which represent The Baldwin Group’s expectations or beliefs concerning future events. Forward-looking statements are statements other than historical facts and may include statements that address The Baldwin Group’s future operating, financial or business performance or The Baldwin Group’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” or the negative of these terms or other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements.

Factors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include, but are not limited to, those described under the caption “Risk Factors” in Baldwin’s Annual Report on Form 10-K for the year ended December 31, 2024 and in Baldwin’s other filings with the U.S. Securities and Exchange Commission (the “SEC”), which are available free of charge on the SEC’s website at: www.sec.gov, including those risks and other factors relevant to the business, financial condition and results of operations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to The Baldwin Group or to persons acting on behalf of The Baldwin Group are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and The Baldwin Group does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.

More News From The Baldwin Group

Back to Newsroom

Key Takeaways DVA's Q3 adjusted EPS fell 3.1% year over year, missing the consensus estimate by 23.7%.DVA's revenues rose 4.8% to $3.42 billion, driven by rate increases and higher binder revenue.DVA's adjusted operating margin contracted 130 bps to 15.1% amid higher administrative costs.
DaVita Inc. (DVA - Free Report) delivered adjusted earnings per share (EPS) of $2.51 in the third quarter of 2025, down 3.1% year over year. The figure missed the Zacks Consensus Estimate by 23.7%.

GAAP EPS for the quarter was $2.04, down 18.4% year over year.

DaVita’s Revenues in DetailRevenues of $3.42 billion in the third quarter increased 4.8% year over year. The figure topped the Zacks Consensus Estimate by 0.5%.

Revenue per treatment in the third quarter of 2025 was $410.6, up 4.1% year over year and 1.5% sequentially. Per management, this was primarily driven by rate increases, higher revenue from phosphate binders and the negative impact of the cyber incident. This was partially offset by a slight decline in payer mix and normal variability.

Shares of this company plunged nearly 3.1% in yesterday’s after-market trading.

DVA’s Segment DetailsDaVita generates revenues via two sources — Dialysis patient service revenues and Other revenues.

The dialysis patient service revenues were $3.29 billion, up 5.1% year over year.

Other revenues were $122.1 million, down 2.3% from the year-ago quarter’s figure.

Per management, the total U.S. dialysis treatments for the third quarter were 7,242,725 or 91,680 per day, on average. This represents a per-day decrease of 0.4% on a sequential basis. Normalized non-acquired treatment declined 0.6% year over year in the third quarter of 2025.

As of Sept. 30, 2025, DaVita provided dialysis services to around 293,200 patients at 3,247 outpatient dialysis centers, of which 2,662 were U.S. centers while 585 were located across 14 other countries.

During the third quarter of 2025, the company opened three dialysis centers and closed three in the United States. It also acquired 58 and closed nine dialysis centers outside the United States in the same period.

As of Sept. 30, 2025, DaVita had approximately 64,900 patients in risk-based integrated care arrangements in its Integrated Kidney Care business, representing $5.5 billion in annualized medical spend. The company also had an additional 9,400 patients in other integrated care arrangements.

DaVita’s Margin DetailsIn the quarter under review, DaVita’s gross profit decreased 2.2% year over year to $1.09 billion. The gross margin contracted 230 basis points (bps) to 31.8%.

General & administrative expenses climbed 5.3% year over year to $414.4 million.

Adjusted operating profit totaled $517 million, reflecting a 3.4% decrease from the prior-year quarter’s level. Adjusted operating margin in the third quarter contracted 130 bps to 15.1%.

DVA’s Financial PositionDaVita exited third-quarter 2025 with cash and cash equivalents and short-term investments of $736.5 million compared with $739.4 million at the second-quarter end. Total debt (including the current portion) at the end of third-quarter 2025 was $10.25 billion compared with $10.26 billion at the second-quarter end.

Cumulative net cash provided by operating activities at the end of third-quarter 2025 was $1.35 billion compared with $1.47 billion a year ago.

During the three months ended Sept. 30, 2025, DVA repurchased 3.3 million shares for $465 million.

DaVita’s GuidanceDaVita has updated its adjusted EPS outlook for 2025.

Adjusted EPS for the full year is now projected to be in the range of $10.35-$11.15 compared with the previous guidance of $10.20-$11.30. The Zacks Consensus Estimate currently stands at $10.93.

Our Take on DVADaVita ended the third quarter of 2025 with mixed results. The uptick in the company’s top line and revenue per treatment was encouraging. The per-day increase in total U.S. dialysis treatments for the third quarter on a sequential basis and solid revenues from dialysis patient service were encouraging. The opening of dialysis centers within the United States and the acquisition of centers overseas were promising.

However, the year-over-year decline in the bottom line and normalized non-acquired treatment was disappointing. The contraction of the adjusted operating margin does not bode well for the stock.

DaVita’s Zacks Rank and Key PicksDVA has a Zacks Rank #3 (Hold) at present.

Some better-ranked stocks in the broader medical space are Solventum Corporation (SOLV - Free Report) , Boston Scientific Corporation (BSX - Free Report) and HealthEquity (HQY - Free Report) .

Solventum, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 4.1%. SOLV’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 13.91%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Solventum’s shares have gained 8.2% compared with the industry’s 6.2% growth so far this year.

Boston Scientific, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 14%. BSX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 8.1%.

Boston Scientific’s shares have gained 13.2% compared with the industry’s 5.6% growth so far this year.

HealthEquity, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 21.7%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, with the average surprise being 11.05%.

HealthEquity’s shares have risen 0.6% compared with the industry’s 6.2% growth so far this year.

NEW YORK, Oct. 30, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Telix Pharmaceuticals Ltd. (NASDAQ: TLX) resulting from allegations that Telix may have issued materially misleading business information to the investing public.

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

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=43778 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: On July 22, 2025, Telix disclosed receipt of a subpoena from the U.S. Securities and Exchange Commission, which was “seeking various documents and information primarily relating to the Company’s disclosures regarding the development of the Company's prostate cancer therapeutic candidates.”

On this news, Telix’s American Depositary Share (“ADS”) price fell 10.44% on July 23, 2025.

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

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

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

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

Key Takeaways CorMedix's DefenCath drives strong 2025 revenue growth and profitability after expanded U.S. market adoption.The Melinta acquisition adds seven approved drugs, expanding CorMedix's hospital and infection focus.Theravance leans on Viatris for Yupelri sales while advancing late-stage ampreloxetine for nOH MSA.
In the competitive world of small-cap biotechnology, CorMedix (CRMD - Free Report) and Theravance Biopharma (TBPH - Free Report) stand out as two companies working to turn scientific progress into lasting profits. Both companies, having a market cap of less than $1 billion, operate in niche therapeutic markets and share the defining traits of small-cap biotechs — limited product portfolios, high dependency on successful execution and outsized potential for investors who can stomach volatility.

CorMedix’s lead product, DefenCath (Taurolidine + Heparin), received FDA approval in late 2023 as the first and only antimicrobial catheter lock solution available in the United States. It is indicated for reducing catheter-related bloodstream infections (CRBSIs) in adult patients with kidney failure undergoing chronic hemodialysis through a central venous catheter.

Although Theravance’s commercial portfolio lacks a marketed product, the company has collaborated with Viatris (VTRS - Free Report) to develop and commercialize Yupelri, as a once-daily, nebulized treatment of chronic obstructive pulmonary disease (COPD).

While both companies carry the typical risks and rewards of small-cap biotech stocks, their paths to growth could not be more different. CorMedix is now executing on a commercial strategy, with DefenCath driving meaningful sales growth. Theravance, on the other hand, is using its stronger balance sheet to advance its late-stage drug program and explore new therapeutic opportunities.

These contrasting strategies highlight two distinct approaches to small-cap biotech investing: one defined by near-term revenue traction, while the other offers longer-term upside tied to clinical progress. With both companies at key turning points and investor interest in small-cap biotech improving, this comparison comes at an ideal time for investors looking to identify the next potential growth story in the sector.

The Case for CRMD StockDefenCath is the first approved product in CorMedix’s marketed portfolio, providing the company with a steady income stream. The company launched DefenCath commercially in April 2024 in the inpatient setting and in July 2024 in the outpatient hemodialysis setting.

In the first half of 2025, DefenCath delivered $78.8 million in net revenues, reflecting a solid start to its commercial journey. The drug continues to drive the company’s top line, with third-quarter 2025 revenues expected to reflect strong market adoption and robust year-over-year growth. The drug is supported by patent protection through 2033. This exclusivity provides a long runway for revenue generation.

Looking ahead, sales are expected to build steadily as CorMedix expands its commercial footprint and strengthens its marketing infrastructure. Moreover, eligibility for insurance coverage enhances patient access and should serve as a strong catalyst for growth in the years ahead. CorMedix is also planning future potential label expansion of DefenCath into total parenteral nutrition to increase its customer base.

CRMD also took a significant step toward diversifying its revenues and reducing reliance on DefenCath with the $300 million acquisition of Melinta Therapeutics. This move added seven approved therapies to its portfolio, strengthening its presence in hospital acute care and infectious disease markets. The expanded portfolio not only broadened the company’s revenue base but also created near-term growth opportunities, particularly for Rezzayo, which is being evaluated in a phase III study for prophylaxis of invasive fungal infections, with potential label expansion in 2026.

CorMedix’s acquisition of Melinta is partly a strategic hedge against potential competition in the CRBSI market from established heparin players like Pfizer (PFE - Free Report) and Amphastar Pharmaceuticals. Pfizer and Amphastar market heparin products, Heparin Sodium Injection and Enoxaparin, respectively. PFE and AMPH could leverage their scale, resources and supply chain control to enter CRBSI-specific applications.

CorMedix recently reported preliminary third-quarter 2025 results, with unaudited pro forma net revenues exceeding $125 million, including more than $85 million from DefenCath. Reflecting this momentum and early Melinta portfolio contributions, the company raised its full-year 2025 pro forma net revenue guidance to at least $375 million, up from the prior expected range of $325-$350 million. CorMedix also anticipates adjusted EBITDA of at least $70 million for the quarter, underscoring improved profitability.

The Case for TBPH StockThe Viatris collaboration is the primary top-line contributor for Theravance. Viatris and TBPH are sharing U.S. profits and losses received in connection with the commercialization of Yupelri. While Viatris gets 65% of the profits, Theravance receives the remaining 35%. Meanwhile, Theravance is entitled to low double-digit royalties on ex-U.S. net sales. Viatris recognizes product sales from Yupelri. VTRS also owns a stake in Theravance.

Yupelri is a once-daily nebulized long-acting muscarinic antagonist (LAMA) approved for COPD patients. LAMAs are recognized by international COPD treatment guidelines as a cornerstone of maintenance therapy for COPD, irrespective of the severity of the disease. Yupelri provides COPD patients with access to a nebulized LAMA therapy, offering a consistent 24-hour lung function improvement with the convenience of once-daily dosing delivered through any standard jet nebulizer.

The product has been witnessing strong sales, generating higher profit-sharing revenues for Theravance. Revenues from the Viatris collaboration rose 19% year over year to $34.1 million in the first half of 2025.

Theravance is developing its lead pipeline candidate, ampreloxetine (TD-9855), a norepinephrine reuptake inhibitor for the treatment of symptomatic neurogenic orthostatic hypotension (nOH) in patients with multiple system atrophy (MSA).

The company initiated the phase III CYPRESS study evaluating ampreloxetine for nOH MSA in 2024. In August 2025, the company completed patient enrollment in the CYPRESS study. Top-line data from the same is expected in the first quarter of 2026. Theravance plans a regulatory filing, under the FDA’s priority review pathway, for ampreloxetine if the study data are found to be positive. The candidate enjoys the FDA’s Orphan Drug Designation status for the nOH indication in the United States.

Around mid-2025, Theravance agreed to sell its remaining royalty interest in net sales of Trelegy Ellipta to GSK for $225 million in cash. Following this, Theravance received a one-time cash payment of $225 million, significantly strengthening its balance sheet, reducing near-term financing risk, and extending its cash runway to advance pipeline development. Theravance held some royalty interest in GSK’s COPD medicine, Trelegy Ellipta.

Despite its solid cash position and growing collaboration revenues, Theravancefaces notable challenges that investors should watch closely. The company remains heavily dependent on profit-sharing income from Viatris for Yupelri, as it currently has no wholly owned marketed products. Any disruption in this partnership or slower-than-expected sales growth could weigh on its top line. In addition, Theravance’s prospects hinge on the success of its late-stage candidate ampreloxetine, which has already faced clinical setbacks and enrollment delays in the ongoing late-stage study. A failure to achieve positive results or obtain regulatory approval would significantly limit TBPH’s near-term growth potential.

How Do Estimates Compare for CRMD & TBPH?The Zacks Consensus Estimate for CorMedix’s 2025 sales and earnings per share (EPS) implies a year-over-year increase of around 488% and 717%, respectively. EPS estimates for 2025 and 2026 have been trending upward over the past 60 days.

CRMD Estimate MovementImage Source: Zacks Investment Research

The Zacks Consensus Estimate for Theravance’s 2025 sales implies a year-over-year increase of around 88%. Its loss per share in 2025 is expected to narrow by 75% compared to the year-ago figure. Loss estimates for both 2025 and 2026 have been narrowing over the past 60 days.

TBPH Estimate MovementImage Source: Zacks Investment Research

Price Performance and Valuation of CRMD & MIRMYear to date, shares of CRMD have gained 39.6%, while those of TBPH have rallied 50.5%. In comparison, the industry has returned 10.7%, as seen in the chart below.

Image Source: Zacks Investment Research

From a valuation standpoint, CorMedix is more expensive than Theravance, going by the price/book (P/B) ratio. CRMD’s shares currently trade at 4 times trailing book value, higher than 3.17 for TBPH.

Image Source: Zacks Investment Research

CRMD vs. TBPH: Which Stock is the Stronger Small-Cap Play?For investors seeking a small-cap biotech with visible earnings momentum and diversified growth potential, CorMedix, carrying a Zacks Rank #2 (Buy), stands out as the better pick over Theravance Biopharma, which currently carries a Zacks Rank #3 (Hold), based on the above discussion. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

CRMD’s strong commercial execution with DefenCath has driven rapid revenue growth and improved profitability, supported by broad adoption across inpatient and outpatient dialysis settings. With expanding insurance coverage, patent protection through 2033, and the successful Melinta acquisition, CorMedix now enjoys a more balanced revenue mix and clearer visibility into sustained growth. This blend of recurring product sales, pipeline expansion, and solid financial momentum positions CRMD for continued profitability, with analysts projecting sharp year-over-year gains in 2025.

Theravance, by contrast, remains heavily dependent on a single partnership for revenue and is betting much of its future on the success of its late-stage ampreloxetine program. Its limited pipeline and lack of fallback assets expose it to higher risk in a sector where clinical setbacks are frequent and costly. While the recent cash infusion provides short-term stability, Theravance’s dependence on collaborators and a single high-stakes drug underscores its execution and pipeline risks versus peers like CRMD. In a market favoring near-term results and commercial traction, CorMedix’s proven revenue engine and strategic diversification make it the more compelling small-cap biotech pick for investors heading into 2026.

Key Takeaways stc group signed a 10-year commercial agreement with AST SpaceMobile, prepaying $175 million.ASTS set to integrate its satellite network with stc's terrestrial network to expand 4G and 5G coverage.AST SpaceMobile's expanding telecom alliances highlight its growing role in global space-based connectivity.

AST SpaceMobile (ASTS - Free Report) is benefiting from a growing client base backed by its robust satellite connectivity portfolio. Recently, the Saudi Telecom Company, known as the stc group, has signed a 10-year commercial agreement with AST SpaceMobile. stc has prepaid $175 million for future services and made a long-term commercial revenue commitment.

stc group is the first in the region to adopt direct-to-device satellite broadband connectivity. The collaboration aims to deliver seamless 4G and 5G mobile services to businesses, the government sector and consumers across underserved remote regions. ASTS will integrate its space-based cellular broadband connectivity infrastructure with stc’s terrestrial network infrastructure. The partnership intends to provide mobile coverage across Saudi Arabia and some countries in the Middle East and Africa region.

Space-based connectivity infrastructure is gaining prominence worldwide owing to several reasons. Despite the rapid expansion of terrestrial network infrastructure, a significant part of population is still outside of stable network coverage. Geographical obstacles, scattered population and various other factors make network deployment unviable telecom operators. ASTS’ space-based connectivity can address these issues.

Per a report from Grand View Research, the global satellite communication market is projected to witness a compound annual growth rate of 10.2% from 2025 to 2030. With a robust portfolio and strong emphasis on innovation, ASTS has become one of the pioneer in this domain. Major telecom operators such as AT&T, Verizon, Rakuten has formed collaboration with ASTS. Vodafone Idea (Vi), a major network service provider in India is also collaborating with ASTS to bring space-based connectivity to one of the largest and dynamic telecom markets in the world. Now, with its collaboration with stc group, ASTS also gains a first mover advantage in the middle east region.

How Are Competitors Faring?AST SpaceMobile is facing competition from Viasat, Inc. (VSAT - Free Report) and Iridium Communications Inc. (IRDM - Free Report) in the satellite communication space. Viasat is ramping up investments in the development of its revolutionary ViaSat-3 broadband communications platform, which will have nearly 10 times the bandwidth capacity of ViaSat-2. The ViaSat-3 platform will help to form a global broadband network with sufficient network capacity to allow better consumer choices with an affordable, high-quality, high-speed Internet and video streaming service. The company is collaborating with BSNL to support satellite communication expansion in India.

Iridium operates one of the largest commercial constellations with a mesh architecture of 66 operational Low-Earth Orbit satellites. The company is actively working developing several services, including Satellite Time and Location, Midband services, Direct-to-Device (D2D) and satellite-based personal communication devices. Iridium is also collaborating with Deutsche Telekom to deliver global connectivity through Iridium’s upcoming NTN Direct service.

ASTS’ Price Performance, Valuation and EstimatesAST SpaceMobile has gained 216.1% over the past year compared with the industry’s growth of 48.6%.

Image Source: Zacks Investment Research

From a valuation standpoint, AST SpaceMobile trades at a forward price-to-sales ratio of 127.17, well above the industry.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for ASTS’ earnings for 2025 has remain unchanged over the past 60 days.

Image Source: Zacks Investment Research

AST SpaceMobile currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways AVTR's Q3 adjusted EPS slid 15.4% Y/Y to $0.22, missing the Zacks Consensus Estimate.AVTR's revenue dropped 5.3% to $1.62B, with both core segments posting declines.AVTR trimmed 2025 guidance, seeing EPS at $0.88$0.92 and organic sales down up to 3.5%.
Avantor, Inc. (AVTR - Free Report) reported third-quarter 2025 adjusted earnings per share (EPS) of 22 cents, down 15.4% from the year-ago quarter. The bottom line also missed the Zacks Consensus Estimate by 4.4%.

GAAP loss per share for the quarter was $1.04 against EPS of 8 cents per share in the prior-year quarter.

AVTR Revenue DetailsRevenues grossed $1.62 billion in the reported quarter, down 5.3% year over year. The metric missed the Zacks Consensus Estimate by 1.6%.

Avantor's foreign currency translation had a positive impact of 2.2% and M&A had a negative impact of 2.8%, resulting in a 4.7% sales decline on an organic basis.

Shares of this company plunged 23.2% till yesterday’s trading.

Avantor’s Segmental AnalysisThe Laboratory Solutions segment’s net sales were $1.09 billion, reflecting a reported decrease of 6.4% year over year. Organic sales decreased 4.9% year over year in the reported quarter. This figure compares to our segmental projection of $1.05 billion.

Per management, the segment declined year over year primarily because customer activity remained softer than anticipated and competitive pressures persisted. The business continued to feel the impact of earlier share losses in lab services, which are still phasing through, while weakness across consumables, equipment and education markets weighed further on performance. Price actions were taken to defend the share, but they were not sufficient to offset cost pressure, resulting in margin compression. Management noted that no major accounts have been lost recently and that new wins are expected to begin contributing in 2026, but the segment still requires stronger commercial execution and improved engagement across channels to stabilize results.

Bioscience Production’s net sales were $527.3 million, reflecting a reported decrease of 2.9%, whereas organic sales decreased 4.3% year over year. This figure compares to our segmental projection of $557 million.

Per management, Bioscience Production decreased year over year due mainly to self-inflicted operational challenges rather than a demand problem. Although orders stayed healthy, several facilities faced raw-material availability issues and inconsistent equipment uptime, limiting throughput and delaying shipments that should have landed in the quarter. This pushed the backlog higher and muted revenue conversion while controlled-environment consumables faced competitive pressure. Management highlighted that these issues were particularly evident in bioprocess chemicals, where customer interest remains strong but fulfilment needs to improve.

AVTR’s Margin AnalysisIn the quarter under review, Avantor’s gross profit declined 6.7% year over year to $526.5 million. The gross margin contracted 50 basis points (bps) to 32.4%. We had projected 34.3% of gross margin for the third quarter.

Selling, general and administrative expenses decreased 11.3% year over year to $390.3 million.

Adjusted operating profit totaled $237.3 million, down 13.7% from the prior-year quarter’s level. The adjusted operating margin in the quarter contracted 140 bps to 14.6%.

Avantor’s Financial PositionAvantor exited the third quarter of 2025 with cash and cash equivalents of $251.9 million compared with $449.4 million at the second-quarter end. Total debt at the end of the third quarter of 2025 was $3.86 billion compared with $4.24 billion at the second-quarter end.

Cumulative net cash provided by operating activities at the end of the third quarter of 2025 was $471.1 million compared with $667.5 million a year ago.

AVTR’s GuidanceAvantor has updated its outlook for 2025.

The company now projects its organic revenues to witness growth of negative 3.5% to negative 2.5% compared with the prior guidance of negative 2% to flat for the full year.

Management now expects negative mid-single digits to low-single digits on an organic basis growth in the Laboratory Solutions segment compared with the prior guidance of negative low-single-digit.

Per management, Bioscience Production is expected to decline in the low single digits organically for the full year, lower than earlier expectations of roughly flat performance.

The company now expects adjusted EPS to lie in the range of 88 cents to 92 cents compared with the prior guidance of 94 cents to 98 cents. The Zacks Consensus Estimate is pegged at 94 cents.

Our TakeAvantor exited the third quarter of 2025 with dismal results, wherein earnings and revenues both missed their respective estimates. Decline in both top and bottom lines also does not bode well for the stock.

Per management, Avantor’s product and innovation pipeline remains anchored in bioprocessing, where the company continues to lean into high-value categories like process chemicals, adjuvants and viral-inactivation products. These offerings are viewed by customers as mission-critical, and year-to-date order intake has remained healthy, suggesting demand is intact even as execution challenges have limited revenue conversion. Management also highlighted strategic collaborations such as the recently announced BlueWhale Bio partnership, which is expected to expand Avantor’s presence across emerging cell and gene therapy workflows. Overall, customers remain receptive to Avantor’s proprietary chemistries and specialty materials, reinforcing confidence that stronger execution could unlock better growth.

Alongside its innovation efforts, Avantor is aggressively pushing a multi-year cost-transformation program targeting roughly $400 million in run-rate savings by the end of 2027. Early traction is visible through tighter SG&A discipline and compensation resets, but management admits that much of the benefit is not yet dropping to the bottom line due to operational inefficiencies and supply-chain complexity. To accelerate progress, the company is simplifying processes, improving planning and strengthening accountability across teams so plants can run more reliably and deliver consistently on customer demand.

Management views this cost program as a key pillar of its broader “Avantor Revival” plan, which also includes reinforcing leadership talent, investing selectively in manufacturing and enhancing digital commerce capabilities. Leadership is adding a new chief operating officer to raise operational standards and a Chief Digital Officer to better support e-commerce needs, both of which should help expand margins and improve customer experience over time. While execution will take several quarters, management believes these structural actions are necessary to rebuild credibility, improve margins, and ultimately reposition Avantor for sustainable long-term growth.

Avantor’s Zacks Rank and Stocks to ConsiderAVTR currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks in the broader medical space are Solventum Corporation (SOLV - Free Report) , Boston Scientific Corporation (BSX - Free Report) and HealthEquity (HQY - Free Report) .

Solventum, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 4.1%. SOLV’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 13.91%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Solventum’s shares have gained 8.2% compared with the industry’s 6.2% growth so far this year.

Boston Scientific, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 14%. BSX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 8.1%.

Boston Scientific’s shares have gained 13.2% compared with the industry’s 5.6% growth so far this year.

HealthEquity, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 21.7%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, with the average surprise being 11.05%.

HealthEquity’s shares have risen 0.6% compared with the industry’s 6.2% growth so far this year.

The Real Brokerage Inc. (REAX) Q3 2025 Earnings Call October 30, 2025 8:00 AM EDT

Company Participants

Alix Lumpkin
Tamir Poleg - Co-Founder, Chairman & CEO
Jenna Rozenblat - Chief Operating Officer
Ravi Jani - Chief Financial Officer

Conference Call Participants

Stephen Sheldon - William Blair & Company L.L.C., Research Division
Naved Khan - B. Riley Securities, Inc., Research Division
Matthew Erdner - JonesTrading Institutional Services, LLC, Research Division
Nick McAndrew - Zelman & Associates LLC

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to the Real Brokerage Third Quarter Earnings Call. I will now turn the call over to Ms. Alix Lumpkin, Chief Legal Officer at the Real Brokerage. Alix, the floor is yours.

Alix Lumpkin

Thanks, and good morning. Thank you for standing by, and welcome to the Real Brokerage Conference Call and Webcast for the third quarter ended September 30, 2025. We appreciate everyone for joining us today. With me on the call today are Tamir Poleg, our Chairman and Chief Executive Officer; Jenna Rozenblat, our Chief Operating Officer; and Ravi Jani, our Chief Financial Officer.

This morning, Real published an earnings press release, including results for the third quarter ended September 30, 2025. The press release, along with the unaudited consolidated financial statements and related management's discussion and analysis for the quarter have been filed with the U.S. Securities and Exchange Commission on EDGAR and with the Canadian securities regulators on SEDAR.

Before we get started, I'd like to remind everyone that statements made on this conference call that are not historical facts, including statements about future time periods, may be deemed to constitute forward-looking statements. Our actual results may differ materially from these forward-looking statements, and the risk factors that could cause these differences are detailed in our Canadian continuous disclosure documents and SEC reports. Real disclaims any intent or obligation to update

Recommended For You

Capital Clean Energy Carriers Corp. (CCEC) Q3 2025 Earnings Call October 30, 2025 10:00 AM EDT

Company Participants

Brian Gallagher - Executive Vice President of Investor Relations
Gerasimos Kalogiratos - CEO of Capital GP LLC & Director
Nikolaos Tripodakis - Chief Commercial Officer of Capital GP LLC
Nikos Tripodakis

Conference Call Participants

Omar Nokta - Jefferies LLC, Research Division
Liam Burke - B. Riley Securities, Inc., Research Division
Climent Molins - Value Investor's Edge

Presentation

Operator

Thank you for standing by, and welcome to the Capital Clean Energy Carriers Corp. Third Quarter 2025 Financial Results Conference Call. We have with us Mr. Jerry Kalogiratos, Chief Executive Officer; Mr. Brian Gallagher, Executive Vice President of Investor Relations; and Mr. Nikos Tripodakis, Chief Commercial Officer. [Operator Instructions] I must advise you that this conference is being recorded today, Thursday, October 30, 2025.

The statements in today's conference call that are not historical facts, including our expectations regarding sale or acquisition transactions and their expected effect on us, cash generation, equity returns and future debt levels, our ability to pursue growth opportunities, our expectations or objectives regarding future distribution amounts or share buyback amounts, dividend coverage, future earnings, capital allocation as well as our expectations regarding market fundamentals and the employment of our vessels, including delivery dates, redelivery dates and charter rates may be forward-looking statements as such as defined in Section 21E of the Securities Exchange Act of 1934 as amended.

These forward-looking statements involve risks and uncertainties that could cause the stated or forecasted results to be materially different from those anticipated. Unless required by law, we expressly disclaim any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in our views or expectations to conform to actual results or otherwise. We make no prediction or statement about the performance

Recommended For You

Q3: 2025-10-29 Earnings SummaryEPS of $0.87 beats by $0.04

 |

Revenue of

$1.06B

(4.35% Y/Y)

beats by $15.98M

Service Corporation International (SCI) Q3 2025 Earnings Call October 30, 2025 9:00 AM EDT

Company Participants

Trey Bocage - Assistant Vice President of Treasury & Investor Relations
Thomas Ryan - CEO & Chairman
Eric Tanzberger - Executive VP & CFO

Conference Call Participants

Daniel Hultberg - Oppenheimer & Co. Inc., Research Division
Joanna Gajuk - BofA Securities, Research Division
Tobey Sommer - Truist Securities, Inc., Research Division
Parker Snure - Raymond James & Associates, Inc., Research Division

Presentation

Operator

Good day, and welcome to the SCI Third Quarter 2025 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to SCI management team. Please go ahead.

Trey Bocage
Assistant Vice President of Treasury & Investor Relations

Good morning. This is Trey Bocage, AVP of Investor Relations and Treasury. Welcome to our third quarter earnings call. We will have some prepared remarks about the quarter from Tom and Eric in just a minute. But before that, let me quickly go over the safe harbor language.

Any comments made by our management team that state our plans, beliefs, expectations or projections for the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such statements.

These risks and uncertainties include, but are not limited to, those factors identified in our earnings release and in our filings with the SEC that are available on our website. Today, we might also discuss certain non-GAAP financial measures. A reconciliation of these measures can be found in the tables at the end of our earnings release and on our website. With that out of the way, I will now turn it over to Tom Ryan, Chairman and CEO.

Thomas Ryan
CEO & Chairman

Recommended For You

Talkspace, Inc. (TALK) Q3 2025 Earnings Call October 30, 2025 8:30 AM EDT

Company Participants

Jon Cohen - CEO & Director
Ian Harris - Chief Financial Officer

Conference Call Participants

Steven Dechert - KeyBanc Capital Markets Inc., Research Division
Charles Rhyee - TD Cowen, Research Division
Ryan MacDonald - Needham & Company, LLC, Research Division
Richard Close - Canaccord Genuity Corp., Research Division
Robert Brooks - Northland Capital Markets, Research Division
Steven Valiquette - Mizuho Securities USA LLC, Research Division
Ryan Daniels - William Blair & Company L.L.C., Research Division

Presentation

Operator

At this time, I'd like to welcome everyone to the Talkspace Third Quarter 2025 Earnings Call. [Operator Instructions] The press release and presentation of earnings results can be accessed on Talkspace's IR website. The presentation will be used to walk you through today's remarks. Leading today's call are CEO, Dr. Jon Cohen; and CFO, Ian Harris. Management will offer their prepared remarks and then take your questions. Chief Technology Officer, Gil Margolin, will join for the question-and-answer section of the call.

Certain measures that will be discussed on today's call are expressed on a non-GAAP financial basis and have been adjusted to exclude the impact of one-off items. Reconciliations of these non-GAAP measures are included in the earnings release and on the website, talkspace.com. As a reminder, the company will be discussing forward-looking information today, which may include forecasts, targets and other statements regarding plans, goals, strategic priorities and anticipated financial results. While these statements represent the company's best current judgment about future results and performance as of today, actual results are subject to many risks and uncertainties that could cause actual results to differ materially from expectations. Important factors that may affect future results are described on Talkspace's most recent SEC reports and today's earnings press release. For more information, please review the safe harbour disclaimer on Slide 2. Now I will turn the call over

Recommended For You

October 30, 2025 15:10 ET

 | Source:

Artesian Resources Corporation

NEWARK, Del., Oct. 30, 2025 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA) announced today that its Board of Directors has approved a 2% increase in the quarterly common stock dividend, which will mark a 4% increase for the year. This increase will raise the quarterly dividend to $0.3136 per share on the company’s Class A and Class B Common Stock payable November 24, 2025 to shareholders of record at the close of business on November 14, 2025, lifting the annualized dividend rate to $ 1.2544 per share.

“Artesian continues to execute our strategic growth plan for wastewater and water services, expanding our customer base in a manner that strengthens operational efficiency and supports sustainable growth,” said Nicki Taylor, Chair, President and CEO. “Looking ahead, we remain focused on operational excellence, regulatory compliance and strong financial management. This approach supports the long-term interests of our customers and reinforces the continued strength and stability of our company for our shareholders.”

This is Artesian’s 132nd consecutive quarterly dividend paid to shareholders.

About Artesian Resources
Artesian Resources Corporation operates as a holding company of wholly-owned subsidiaries offering water and wastewater services, and related business services, on the Delmarva Peninsula. Artesian Water Company, the principal subsidiary, is the oldest and largest regulated water utility on the Delmarva Peninsula and has been providing water service since 1905. Artesian supplies 9.5 billion gallons of water per year through 1,491 miles of water main to over a third of Delawareans.

Contact:
Virginia Eisenbrey
Communications
(302) 453-6900
[email protected]

Inovalon Customers Achieved an Average of 4.08 Stars - Outperforming Peers Whose Results Averaged 3.9 Stars.

BOWIE, Md.--(BUSINESS WIRE)--Inovalon, a leading provider of data and solutions empowering data-driven healthcare, released results from an analysis conducted on customer performance for the 2026 Centers for Medicare & Medicaid Services (CMS) Star Ratings. The findings show that health plans using Inovalon’s Converged Quality™ solution averaged 4.08 Stars, meeting the eligibility threshold for Quality Bonus Payments and outperforming the 3.98 national average.

Health plans use Inovalon’s Converged Quality solution to support quality reporting across regulatory clinical measure rates, quality improvement activity reporting, predictive cut point forecasting, and Medicare benchmarking, while receiving timely insights, data-driven intervention planning, and patient-level outreach informed by expert analytics.

Key highlights of Inovalon customers’ 2026 CMS Star Rating Performance:

Health plans using Inovalon’s Converged Quality solution with Managed Services achieved 11% higher ratings than health plans using other solutions.

60% of all Medicare covered lives (20.9 million) and more than 70% of Medicare Advantage enrollees in 4+ Star plans (15.6 million of 22.3 million lives) are run through Inovalon’s software.

Inovalon’s Converged Quality’s forecasted cut-point analysis demonstrated greater than 97% accuracy when compared with CMS-released cut points, providing predictive insights for plans to improve performance.

Nearly 50% of all 5 Star plans use Inovalon’s data-driven insights.

“Achieving top-tier Star Ratings requires more than just meeting CMS requirements; it demands a proactive, data-driven approach that anticipates member needs and adapts to evolving performance expectations,” said Mike Jones, President of the Payer business unit at Inovalon. “Inovalon continues to raise the bar in our commitment to helping health plans achieve exceptional Star Ratings performance by delivering innovative solutions that health plans trust year after year, reinforcing our role as a dependable ally in navigating the complexities of the evolving CMS landscape.”

The Medicare Advantage landscape is undergoing significant transformation, with the slowing of enrollment growth, continued D-SNP expansion, and methodology changes in prior years directly impacting Star Ratings. While the average Star Ratings for all MA plans increased modestly from 3.95 in 2025 to 3.98 in 2026, the percentage of plans achieving 4+ Stars slightly declined from 40.9% to 40.1% in the same period. Looking ahead, the inclusion of the Excellent Health Outcomes for All index in 2027 and the ongoing transition to digital quality measurement will continue to shape plan performance. Join the Inovalon webinar to hear quality experts break down the 2026 CMS Star Ratings performance and these emerging trends.

As the nation’s most widely used healthcare quality data analysis and improvement platform, Inovalon’s Converged Quality is trusted by more than 100 leading health plans representing over 205 million covered lives to optimize quality measurement, reporting, and improvement initiatives. Built for real-time analytics, the solution goes beyond core reporting with add-ons for benchmarking, Star Ratings forecasting, medical record abstraction, analytics for population outcomes, and provider and member engagement. Integrated with Inovalon’s Converged Risk™ solution, it also enables health plans to consolidate internal programs and vendors, improving oversight and streamlining operations.

For more information on Inovalon’s Converged Quality solution and Star Ratings, visit our website: https://www.inovalon.com/products/payer-cloud/quality/.

About Inovalon

Inovalon is a leading provider of data and solutions empowering data-driven healthcare. The Inovalon ONE® Platform brings together national-scale connectivity, real-time primary source data access, and advanced analytics into a sophisticated cloud-based platform empowering improved outcomes and economics across the healthcare ecosystem. The company’s analytics and capabilities are used by over 50,000 active, licensed customers, and are informed by the primary source data of more than 93 billion medical events across 1.1 million physicians, 706,000 clinical settings, and 416 million unique lives. For more information, visit www.inovalon.com.

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, continues its investigation on behalf of Stride, Inc. (“Stride” or the “Company”) (NYSE: LRN) investors concerning the Company’s possible violations of the federal securities laws.

IF YOU ARE AN INVESTOR WHO LOST MONEY ON STRIDE, INC. (LRN), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.

What Happened?

On September 14, 2025, Simply Wall St. published a report stating that the Gallup-McKinley County Schools Board of Education had filed a complaint against Stride, alleging fraud, deceptive trade practices, systemic violations of law, and intentional and tortious misconduct, including inflating enrollment numbers by retaining “ghost students” on rolls to secure state funding per student and ignoring compliance requirements, including background checks and licensure laws for its employees.

On this news, Stride’s stock price fell $18.60, or 11.7%, to close at $139.76 per share on September 15, 2025, thereby injuring investors.

Then, on October 28, 2025, Stride released its first quarter fiscal 2026 financial results, revealing the Company had purposely “limit[ed] enrollment growth while we improve our execution.” The Company also revealed it had experienced “system implantation issues” resulting in “higher withdrawal rates and lower conversion rate.” The Company stated that “these factors resulted in approximately 10,000 to 15,000 fewer enrollments” and “these challenges will likely restrict [its] in-year enrollment growth.”

On this news, Stride’s stock price fell as much as 51% during intraday trading on October 29, 2025, thereby injuring investors further.

Contact Us To Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.

Charles Linehan, Esq.,

Glancy Prongay & Murray LLP,

1925 Century Park East, Suite 2100,

Los Angeles California 90067

Email: [email protected]

Telephone: 310-201-9150 (Toll-Free: 888-773-9224)

Visit our website at www.glancylaw.com.

Follow us for updates on LinkedIn, Twitter, or Facebook.

Whistleblower Notice

Persons with non-public information regarding Stride should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected].

About Glancy Prongay & Murray LLP

Glancy Prongay & Murray LLP (“GPM”) is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. GPM has been consistently ranked in the Top 50 Securities Class Action Settlements by ISS Securities Class Action Services. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements.

With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM’s lawyers have handled cases covering a wide spectrum of corporate misconduct and relating to nearly all industries and sectors. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money.

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

INDIA - 2025/06/08: In this photo illustration, a Flowserve logo is seen displayed on a smartphone and in the background. (Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

Flowserve (FLS) stock has surged 31% in the last day, on the back of good earnings, and is now trading at $68.95. Our multi-factor analysis indicates that it might be the right moment to acquire additional shares of FLS stock. Overall, we maintain a favorable outlook on the stock, and a target price of $90 could be attainable. However, we think there are a few considerations to be cautious about in FLS stock given its general Moderate operational performance and financial status. In light of the stock's Low valuation, we find it Attractive.

Below is our assessment:

Conclusion

Trefis

Quiz time: Over the last 5 years, which index do you think the Trefis High Quality Portfolio has surpassed - the S&P 500, S&P 1500 Equal Weighted, or both? The answer may come as a surprise. Discover how our advisory framework empowers you to stack the odds in your favor.

Let’s delve into details of each of the assessed factors but first, for a brief background: With $9.0 Bil in market capitalization, Flowserve offers custom and pre-configured pumps, mechanical seals, auxiliary systems, and aftermarket services for managing the flow of liquids, gases, and fluids worldwide.

[1] Valuation Appears Low

Valuation

Trefis

This table indicates how FLS is valued compared to the broader market. For more information see: FLS Valuation Ratios

[2] Growth Is Moderate

Flowserve has experienced its top line expand at an average rate of 10.5% over the last 3 yearsIts revenues have increased 3.2% from $4.5 Bil to $4.7 Bil in the last 12 monthsAdditionally, its quarterly revenues rose 3.6% to $1.2 Bil in the most recent quarter from $1.1 Bil a year prior.Growth

Trefis

This table illustrates how FLS is growing compared to the broader market. For more information see: FLS Revenue Comparison

[3] Profitability Seems Weak

FLS's operating income over the last 12 months was $462 Mil, reflecting an operating margin of 9.9%With a cash flow margin of 15.0%, it generated close to $703 Mil in operating cash flow during this timeFor the same period, FLS produced almost $453 Mil in net income, indicating a net margin of approximately 9.7%Profitability

Trefis

This table shows the profitability of FLS compared to the broader market. For more information see: FLS Operating Income Comparison

[4] Financial Stability Appears Very Strong

FLS's Debt was $1.7 Bil at the end of the latest quarter, while its current Market Cap is $9.0 Bil. This suggests a Debt-to-Equity Ratio of 18.5%FLS Cash (including cash equivalents) constitutes $834 Mil of $5.8 Bil in total Assets. This results in a Cash-to-Assets Ratio of 14.3%Financial Stability

Trefis

[5] Downturn Resilience Is Very Weak

FLS has performed significantly worse than the S&P 500 index during various economic downturns. We evaluate this based on both (a) how much the stock declined and, (b) how quickly it bounced back.

2022 Inflation Shock

FLS stock dropped 45.2% from a high of $44.31 on 8 June 2021 to $24.30 on 30 September 2022, while the S&P 500 experienced a peak-to-trough decrease of 25.4%.Nonetheless, the stock fully rebounded to its pre-Crisis peak by 13 March 2024Since that time, the stock surged to a high of $68.95 on 29 October 2025Inflation Shock

Trefis

2020 Covid Pandemic

FLS stock plunged 62.0% from a high of $50.68 on 2 January 2020 to $19.24 on 23 March 2020, while the S&P 500 saw a peak-to-trough decline of 33.9%.However, the stock entirely recovered to its pre-Crisis peak by 16 July 2024Covid Pandemic

Trefis

2008 Global Financial Crisis

FLS stock declined 73.2% from a high of $47.12 on 21 July 2008 to $12.64 on 20 November 2008, contrasted with a peak-to-trough fall of 56.8% for the S&P 500.Nonetheless, the stock completely bounced back to its pre-Crisis peak by 6 December 20122008 Global Financial Crisis

Trefis

However, the risk isn't confined to significant market downturns. Stocks can decline even in favorable market conditions - consider events such as earnings announcements, business updates, or changes in outlook. Read FLS Dip Buyer Analyses to understand how the stock has recovered from sharp declines in the past.

The Trefis High Quality (HQ) Portfolio, which includes a selection of 30 stocks, has consistently outperformed its benchmark that includes all three - S&P 500, Russell, and S&P midcap. What accounts for this? As a collective, HQ Portfolio stocks yielded superior returns with lower risk compared to the benchmark index; resulting in a more stable investment experience, as reflected in HQ Portfolio performance metrics.

Key Takeaways Everest Group's Q3 operating income fell 48.4% year over year to $7.54 per share.
Revenues grew 0.7% to $4.3B, driven by investment gains but hurt by weaker premiums.
Reinsurance witnessed a better combined ratio, while Insurance results deteriorated sharply.

Everest Group, Ltd.’s (EG - Free Report) third-quarter 2025 operating income of $7.54 per share missed the Zacks Consensus Estimate by 43.7%. Also, the bottom line decreased 48.4% year over year.

The company witnessed declining premiums, underwriting loss and higher expenses, offset by narrower catastrophe losses and improved net investment income.

EG’s Q3 Operational UpdateEverest Group’s total operating revenues of $4.3 billion climbed 0.7% year over year on higher net investment income. The top line, however, missed the consensus mark by 2.9%.

Gross written premiums declined 1.1% year over year to $4.4 billion. Premium growth in property and specialty lines across both the Reinsurance and Insurance segments was offset by reductions in certain casualty lines. Our estimate was $4.8 billion.

Net investment income was $540 million, which increased 8.8% year over year. The upside was driven by a larger asset base and strong alternative investment returns. Our estimate was $490.5 million. The Zacks Consensus Estimate was pegged at $511 million.

Total claims and expenses rose 9.2% to $4 billion, primarily due to higher incurred losses and loss adjustment expenses, commission, brokerage, taxes and fees, other underwriting expenses, and corporate expenses. Our estimate was $3.8 billion.

Underwriting loss of $130 million was against the year-ago quarter’s underwriting income of $272 million.

Pre-tax catastrophe losses net of recoveries and reinstatement premiums were $50 million, narrower than the loss of $279 million in the year-ago quarter.

The combined ratio deteriorated 1030 basis points (bps) year over year to 103.4 in the reported quarter. The Zacks Consensus Estimate was 93, while our estimate was 91.8.

Q3 Segmental Update of Everest GroupThe Reinsurance segment’s gross written premiums were $3.2 billion, down 1.8% year over year. The metric reflected a 10.2% increase in Property Catastrophe XOL and a 24.3% increase in Property Non-Catastrophe XOL. It was partially offset by a 16.3% decrease in Casualty Pro-Rata and a 10.2% decrease in Casualty XOL when adjusting for reinstatement premiums. Our estimate was $3.6 billion.

The combined ratio of the Reinsurance segment improved 480 bps to 87. The Zacks Consensus Estimate was 90. Our estimate was 91.

The Insurance segment generated gross written premiums of $1.1 billion, up 3.3% year over year. The metric grew by 46.4% in Accident and Health and 15.8% in Other Specialty. Growth was partially offset by decreases of 15.8% in Specialty Casualty, primarily reflecting the execution of 1-Renewal Strategy focused on U.S. casualty lines, as well as 13.6% in Workers' Compensation. Our estimate was $1.2 billion.

The combined ratio deteriorated 4120 bps to 138.1 for the Insurance segment. Our estimate was 98.5. The Zacks Consensus Estimate was pegged at 102.

Financial UpdateEverest Group exited the third quarter of 2025 with total investments and cash of $45.8 billion, up 10.3% from the 2024-end level.

Shareholder equity at the end of the reported quarter increased 10.8% from the figure at the end of 2024 to $15.4 billion. Book value per share was $366.22 as of Sept. 30, 2025, up 13.4% from the 2024-end level.

The annualized net income return on equity was 8.2%, which contracted 820 bps from the year-ago quarter.

Everest Group’s cash flow from operations was $1.5 billion in the quarter, down 16% year over year. The company paid common share dividends of $83.7 million during the quarter.

EG’s Zacks RankEverest Group currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other InsurersPrincipal Financial Group, Inc.’s (PFG - Free Report) third-quarter 2025 operating net income of $2.10 per share missed the Zacks Consensus Estimate by 3.6%. However, the bottom line increased 19% year over year. PFG’s operating revenues increased 6.2% year over year to $3.8 billion, driven by increased premiums and other considerations, fees, and other revenues and net investment income. The metric missed the Zacks Consensus Estimate by 4.1%.

Total expenses increased 3.8% year over year to $3.4 billion. The figure was lower than our estimate of $3.6 billion. As of Sept. 30, 2025, Principal Financial’s AUM amounted to $784.3 billion, which included $0.4 billion of net cash flow and assets under administration of $1.8 trillion. AUM improved 10.1% from 2024-end.

Chubb Limited (CB - Free Report) reported third-quarter 2025 core operating income of $7.49 per share, which beat the Zacks Consensus Estimate by 26%. The bottom line increased 30.9% year over year. CB’s net premiums written improved 7.5% year over year to $14.8 billion in the quarter. Our estimate was $14.4 billion, while the Zacks Consensus Estimate was pegged at $14.5 billion.

Pre-tax net investment income was $1.65 billion, up 9.3% year over year. Our estimate and the Zacks Consensus Estimate were both pegged at $1.8 billion. Chubb’s revenues of $16.1 billion beat the consensus estimate by 1.6% and improved 7.4% year over year. Property and casualty (P&C) underwriting income was $2.2 billion, up 55% year over year. The Zacks Consensus Estimate was pegged at $1.4 billion.

The Travelers Companies, Inc. (TRV - Free Report) reported third-quarter 2025 core income of $8.14 per share, which beat the Zacks Consensus Estimate by 35.4%. The bottom line increased 55% year over year. Travelers’ total revenues increased 5% from the year-ago quarter to $12.44 billion, primarily driven by higher premiums, net investment income, fee income and other revenues. The top-line figure beat the Zacks Consensus Estimate by 0.7%.

TRV’s net written premiums increased 1% year over year to a record $11.47 billion. The underwriting gain doubled year over year to $1.4 billion. The consolidated underlying combined ratio of 83.9 improved 170 bps year over year. The combined ratio improved 590 bps year over year to 87.3.

Key Takeaways Alphabet's Q3 EPS rose 35% year over year to $2.87, beating consensus estimates by nearly 27%.
Revenues climbed 16% to $102.35B, fueled by strong gains in Search, YouTube and Cloud segments.
Google Cloud backlog jumped 46% sequentially, with AI products seeing 200% annual revenue growth.

Alphabet’s (GOOGL - Free Report) third-quarter 2025 earnings of $2.87 per share beat the Zacks Consensus Estimate by 26.99% and jumped 35.4% year over year.

Revenues of $102.35 billion increased 16% year over year (15% at constant currency). Net revenues, excluding total traffic acquisition costs (“TAC”) (the portion of revenues shared with Google’s partners and the amount paid to distribution partners and others who direct traffic to Google’s website), were $87.47 billion, which surpassed the consensus mark by 3%. The figure rose 17.3% year over year. TAC of $14.88 billion rose 8.4% year over year.

Google Services revenues increased 13.8% year over year to $87.05 billion and accounted for 85.1% of total revenues. The figure beat the Zacks Consensus Estimate by 2.43%.

Google Cloud revenues surged 33.5% year over year to $15.16 billion and accounted for 14.8% of the quarter’s total revenues. The figure beat the Zacks Consensus Estimate by 3.25%.

GOOGL’s Services Ride on Search & YouTubeSearch and other revenues increased 14.5% year over year to $56.57 billion, surpassing the Zacks Consensus Estimate by 2.58%. Search and other revenues accounted for 55.3% of total revenues and 76.3% of Google Advertising revenues. Retail and financial services were the largest revenue contributors. Introduction of AI Overviews and AI Mode has driven growth in overall queries, including commercial queries and is creating opportunities for people to connect with businesses and shop on search. AI Max and Search are already used by hundreds of thousands of advertisers, making it the fastest-growing AI-powered search ads product.

YouTube’s advertising revenues improved 15% year over year to $10.26 billion, beating the consensus mark by 2.31%. Paid subscriptions led by Google One and YouTube Premium have surpassed 300 million. Shorts now earn more revenue per watch hour than traditional in-stream on YouTube. Alphabet has introduced a number of AI-powered features that are helping creators offer better content on their channels. AI is now automatically identifying products in creators' videos that are more shopper-friendly.

Google advertising revenues increased 12.6% year over year to $74.18 billion and accounted for 85.2% of total revenues. The figure beat the consensus mark by 2.3%.

However, Google Network revenues decreased 2.6% year over year to $7.35 billion but beat the consensus mark by 0.03%.

Google subscriptions, platforms and devices revenues, formerly known as Google Other revenues, were $12.87 billion in the third quarter, up 20.8% year over year. The figure beat the consensus mark by 3.23%. Other Bets’ revenues were $344 million, down 11.3% year over year, and accounted for 0.3% of the third-quarter revenues. The figure missed the consensus mark by 19.98%.

Google Cloud Benefits From Enterprise AdoptionGoogle Cloud ended the reported quarter with $155 billion in backlog, up 46% sequentially. The number of new Google Cloud Platform customers increased by roughly 34% year over year, and 70% of Google Cloud customers now use Alphabet’s AI products. The company has signed more deals worth more than $1 billion through the third quarter of 2025 than GOOGL did in the previous two years combined. Currently, nine of the top 10 AI labs are using Google Cloud.

In third-quarter 2025, revenues from products built on Alphabet’s generative AI models (Gemini, Imagen, Veo, Chirp and Lyria) grew more than 200% year-over-year, reflecting accelerating adoption. Over the past 12 months, each of roughly 150 Google Cloud customers has processed approximately 1 trillion tokens with Alphabet’s models for a wide range of applications.

Alphabet saw double-digit growth in Workspace, driven by an increase in average revenues per seat and the number of seats in the reported quarter.

GOOGL’s Operating DetailsThird-quarter 2025 costs and operating expenses were $71.12 billion, up 19% year over year. As a percentage of revenues, the figure increased 180 basis points (bps) on a year-over-year basis to 69.5%.

The operating margin was 30.5%, which contracted 180 bps year over year. Excluding the European Commission fine of $3.46 billion, non-GAAP operating margin expanded 160 bps year over year.

Segment-wise, Google Services’ operating margin of 38.5% contracted 180 bps year over year. Google Cloud’s operating income was $3.59 billion compared with $1.95 billion reported in the year-ago quarter.

Other Bets reported a loss of $1.43 billion compared with a loss of $1.12 billion in the year-ago quarter.

Alphabet’s Balance Sheet Remains StrongAs of Sept. 30, 2025, cash, cash equivalents, and marketable securities were $98.5 billion, up from $95.15 billion as of June 30, 2025.

Long-term debt was $21.61 billion as of Sept. 30, 2025, compared with $23.61 billion as of June 30, 2025.

Alphabet generated $48.41 billion of cash from operations in the third quarter of 2025 compared with $27.75 billion in the second quarter of 2025. GOOGL spent $23.95 billion on capital expenditure, generating a free cash flow of $24.46 billion in the reported quarter.

Alphabet Raises Capital Expenditure GuidanceFor 2025, Alphabet now expects to spend capital expenditures between $91 billion and $93 billion, up from the previous estimate of $85 billion. The company expects capital expenditure to increase significantly in 2026.

Zacks Rank & Stocks to ConsiderAlphabet currently has a Zacks Rank #3 (Hold).

Cirrus Logic (CRUS - Free Report) , Fair Isaac (FICO - Free Report) and CoreWeave (CRWV - Free Report) are some better-ranked stocks that investors can consider in the broader Zacks Computer and Technology sector.

Cirrus Logic shares have returned 31.9% year to date. CRUS is scheduled to release second-quarter fiscal 2026 results on Nov. 4. Cirrus Logic sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

 Fair Isaac shares have dropped 21.3% year to date. This Zacks Rank #1 company is scheduled to release fourth-quarter fiscal 2025 results on Nov. 5.

 CoreWeave shares have surged 249.9% since its initial public offering. CRWV is set to report its third-quarter 2025 results on Nov. 10. CoreWeave currently has a Zacks Rank #2 (Buy).

Key Takeaways Eli Lilly's Q3 EPS of $7.02 beat estimates, with revenues jumping 54% to $17.6 billion.Mounjaro and Zepbound sales soared 109% and 185%, respectively, driving strong top-line growth.Lilly lifted 2025 revenue guidance to $63-$63.5B and EPS to $23.00-$23.70.
Eli Lilly and Company (LLY - Free Report) reported third-quarter 2025 adjusted earnings per share (“EPS”) of $7.02, which beat the Zacks Consensus Estimate of $6.02 per share. In the year-ago quarter, Lilly recorded earnings of $1.18 per share. Adjusted EPS included acquired IPR&D charges of 71 cents in the third quarter.

Revenues of $17.60 billion rose 54% year over year, driven by robust uptake of Lilly’s popular GLP-1 drugs, Mounjaro for type II diabetes and Zepbound for obesity. Total revenues beat the Zacks Consensus Estimate of $16.01 billion.

LLY’s Mounjaro and Zepbound Sales OutperformMounjaro recorded sales of $6.52 billion during the quarter, up 109% year over year. The reported sales figure beat the Zacks Consensus Estimate of $5.48 billion as well as our model estimate $5.33 billion.

Mounjaro sales rose 49% to $355 billion in the United States, driven by increased demand, partially offset by lower pricing. International sales were $2.97 billion compared with $728.0 million in the year-ago quarter.

Zepbound recorded sales of $3.59 billion in the quarter, up 185% year over year, driven by increased demand, partially offset by lower pricing. Zepbound revenues beat the Zacks Consensus Estimate of $3.45 billion as well as our model estimate of $3.46 billion.

Mounjaro and Zepbound face strong competition from Novo Nordisk’s (NVO - Free Report) semaglutide medicines, Ozempic for diabetes and Wegovy for obesity. However, Lilly’s Mounjaro and Zepbound are taking market share from Ozempic and Wegovy, respectively. Novo Nordisk is scheduled to announce its third-quarter results on Nov. 5.

LLY’s Key Drugs’ Sales NumbersTrulicity generated revenues worth $1.05 billion, down 19% year over year.  Sales of Trulicity were in line with the Zacks Consensus Estimate and slightly beat our estimate of $1.04 billion.

Sales of Trulicity are being hurt due to competitive dynamics, including patient switches to Mounjaro and lower realized prices.

Jardiance sales rose 40% to $959 million. Jardiance beat the Zacks Consensus Estimate of $687.0 million as well as our model estimate of $630.6 million.

Taltz brought in sales of $901.5 million, up 2% year over year. Taltz missed the Zacks Consensus Estimate of $919.0 million as well as our model estimate of $911.5 million.

Verzenio generated sales of $1.47 billion in the reported quarter, up 7% year over year, as higher volume in the United States and outside the United States was offset by lower pricing in the United States. Verzenio sales missed the Zacks Consensus Estimate of $1.58 billion as well as our model estimate of $1.64 billion.

Emgality generated revenues of $175.7 million in the quarter, down 13% year over year. Olumiant (baricitinib) generated sales of $268.9 million, up 7% on a year-over-year basis.

Among the newer drugs, Jaypirca recorded $142.9 million in sales, up 76% year over year. Omvoh and Ebglyss recorded sales of $64.9 million and $127.1 million, respectively, in the quarter, compared with $74.8 million and $86.8 million in the previous quarter.

Sales of the new Alzheimer’s drug Kisunla were $70.4 million in the third quarter compared with $48.6 million in the previous quarter, as the new drug saw a steady launch trajectory. Kisunla was approved in Europe in September.

LLY Ups 2025 Sales and EPS GuidanceLilly increased its 2025 full-year revenue and EPS guidance. In 2025, Lilly expects to record revenues in the range of $63.0 billion to $63.5 billion, up from the prior expectation of $60.0 billion to $62.0 billion.

The earnings per share guidance was also increased from a range of $21.75 to $23.00 to $23.00 to $23.70.

Our Take on LLY’s Q3 ResultsLilly’s third-quarter results were strong as the company beat estimates for both earnings and sales. Sales of Lilly’s key drugs, Mounjaro, Zepbound and Jardiance beat estimates while Verzenio and Taltz missed expectations. Lilly’s new products also contributed to sales growth.

The company raised its sales as well as earnings expectations for 2025, for the second time this year, backed by a strong performance year to date, mainly driven by the robust growth of Mounjaro and Zepbound and currency tailwinds.

Launches of Mounjaro and Zepbound in new international markets and improved supply from ramped-up production in the United States have led to strong sales growth in 2025

In response to the strong third-quarter results and the guidance increase, Lilly’s shares rose more than 5% in pre-market trading,

Lilly’s stock has risen 5.3% so far this year compared with an increase of 3.3% for the industry.

Image Source: Zacks Investment Research

While Mounjaro and Zepbound have become key top-line drivers for Lilly, several other new drugs, approved in the past couple of years, are contributing to top-line growth.

Lilly is investing broadly in obesity and has several new molecules currently in clinical development with a range of oral and injectable medications with different mechanisms of action. These include two late-stage candidates, orforglipron, a once-daily oral GLP-1 small molecule, and retatrutide, a GGG tri-agonist.

Lilly has announced positive data across four studies on orforglipron in obesity and type II diabetes. An oral pill like orforglipron has the potential to be a more convenient alternative to injectable treatments like Zepbound and NVO’s Wegovy. Lilly plans to file regulatory applications for orforglipron in obesity later this year, setting up the timeline for a potential launch next year.

In the quarter, Lilly also gained U.S. approval for Inluriyo (imlunestrant) for certain adults with advanced or metastatic breast cancer.

LLY is also working to diversify beyond GLP-1 drugs by expanding into cardiovascular, oncology, and neuroscience areas. In 2025, it announced several M&A deals. It acquired Verve Therapeutics to add gene therapies for heart disease to its pipeline. Lilly has also acquired Scorpion Therapeutics’ oncology drug and SiteOne Therapeutics’ non-opioid pain candidate.

Last week, Lilly announced a definitive agreement to acquire Adverum Biotechnologies (ADVM - Free Report) , which will add the latter’s lead candidate, Ixo-vec, an intravitreal single-administration gene therapy being developed in phase III to treat vision loss associated with wet age-related macular degeneration. Ixo-vec has the potential to transform chronic eye care into a one-time treatment.

LLY’s Zacks RankEli Lilly currently has a Zacks Rank #4 (Sell). 

A better-ranked large drugmaker is Bayer (BAYRY - Free Report) , which has a Zacks Rank #2 (Buy).  You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Bayer’s shares have risen 62.5% so far this year. Estimates for its 2025 earnings per share have increased from $1.32 to $1.37 over the past 90 days, while those for 2026 have increased from $1.36 per share to $1.44 per share. Bayer is scheduled to report third-quarter results on Nov. 12.

SummaryMicrosoft delivered a strong Q1 2026 earnings report, with some noteworthy developments on a segmented basis.Despite the robust results, MSFT's share price reaction is muted, which reflects my recent fears regarding the valuation premium.The quarterly numbers, however, were outshined by some major announcements regarding OpenAI, which will have profound implications for Microsoft's future in the AI space.I maintain a Hold rating on MSFT, as near-term upside appears limited and more information becomes available on how the generative-AI space would evolve. lcva2/iStock Editorial via Getty Images

Microsoft (MSFT) just reported its Q1 2026 earnings, and in spite of what appears to be a good quarter, the stock's initial reaction is negative. This, however, tells us next to nothing about expected future returns, as there are lots of moving parts within the

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.

Please do your own due diligence and consult with your financial advisor, if you have one, before making any investment decisions. The author is not acting in an investment adviser capacity. The author's opinions expressed herein address only select aspects of potential investment in securities of the companies mentioned and cannot be a substitute for comprehensive investment analysis. The author recommends that potential and existing investors conduct thorough investment research of their own, including a detailed review of the companies' SEC filings. Any opinions or estimates constitute the author's best judgment as of the date of publication and are subject to change without notice.

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.

Recommended For You

Key Takeaways LKQ reported Q3 adjusted EPS of $0.84, topping estimates but below last year's $0.88.Quarterly revenues of $3.5B missed forecasts and declined from $3.58B a year earlier.The company expects 2025 EPS in the band of $3-$3.15 and declared a $0.30 quarterly dividend.
LKQ Corporation (LKQ - Free Report) delivered third-quarter 2025 adjusted earnings of 84 cents per share, which exceeded the Zacks Consensus Estimate of 74 cents but declined from 88 cents reported in the year-ago period. The aftermarket auto parts distributor registered quarterly revenues of $3.5 billion, which missed the Zacks Consensus Estimate of $3.52 billion. The top line also fell from the year-ago level of $3.58 billion. Parts and Services organic revenues decreased 1.2% year over year.

LKQ carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 

Segment HighlightsLKQ has completed the divestiture of its Self Service segment and now reports across three segments.

In the reported quarter, revenues from the Wholesale North American segment totaled $1,423 million, unchanged from the corresponding period of 2024 and topped our estimate of $1,381 million. The segment’s EBITDA was $199 million, which was below our forecast of $213 million, as well as $224 million generated in the third quarter of 2024.

Revenues from the European segment were $1.62 billion, compared to $1.61 billion in the year-ago quarter and topped our estimate of $1.57 billion. The segment’s EBITDA came in at $162 million, which was down from the year-ago level of $165 million but surpassed our forecast of $147 million.

Revenues from the Specialty segment came in at $457 million, increasing from $419 million in the year-ago quarter and topping our projection of $406 million. The segment’s EBITDA was $34 million, rising from the year-ago figure of $31 million and exceeding our forecast of $23.1 million.

Financial Position & DividendLKQ had cash and cash equivalents of $289 million as of Sept. 30, 2025, up from $234 million recorded as of Dec. 31, 2024. The long-term obligations (excluding the current portion) amounted to $3.6 billion as of Sept. 30, 2025, down from $4.12 billion recorded as of Dec. 31, 2024. As of Sept. 30, 2025, LKQ’s balance sheet reflected a total debt of $4.2 billion.

In the third quarter of 2025, cash flow from operating activities and FCF were $440 million and $387 million, respectively.  

During the third quarter of 2025, the company repurchased 1.2 million shares worth $40 million. Since initiating the stock buyback program in late October 2018, it has repurchased around 67.7 million shares for a total of $2.9 billion through Sept. 30, 2025.

On Oct. 28, LKQ announced a quarterly cash dividend of 30 cents per share. The dividend will be paid out on Dec. 4, 2025, to stockholders of record at the close of business on Nov. 20, 2025.

2025 GuidanceLKQ has revised its outlook for 2025. It now anticipates parts and services organic revenues to decline 2-3% against the previous estimate of a decline of 1.5-3.5% year over year. It now expects adjusted EPS in the range of $3-$3.15, compared with the previous estimate of $2.85-$3.15. The company now envisions operating cash flow in the range of $825-$1,025 million compared with the previous estimate of $800-$1,000 million. It expects free cash flow in the range of $525-$675 million compared with the previous estimate of $600-$750 million.

Peer ReleasesDorman Products (DORM - Free Report) came out with quarterly earnings of $2.62 per share, beating the Zacks Consensus Estimate of $2.31 per share. This compares to earnings of $1.96 per share a year ago. Over the last four quarters, the company surpassed consensus EPS estimates four times. Dorman posted revenues of $543.74 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.63%. This compares to year-ago revenues of $503.77 million.The company topped consensus revenue estimates four times over the last four quarters.

Genuine Parts Company (GPC - Free Report) came out with quarterly earnings of $1.98 per share, missing the Zacks Consensus Estimate of $2.02 per share. This compares to earnings of $1.88 per share a year ago. Over the last four quarters, the company surpassed consensus EPS estimates three times and missed on the other. Genuine Parts posted revenues of $6.26 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.03%. This compares to year-ago revenues of $5.97 billion. The company topped consensus revenue estimates four times over the last four quarters.

Agios Pharmaceuticals, Inc. (AGIO) Q3 2025 Earnings Call October 30, 2025 8:00 AM EDT

Company Participants

Morgan Sanford
Brian Goff - CEO & Director
Cecilia Jones - Chief Financial Officer
Tsveta Milanova - Chief Commercial Officer
Sarah Gheuens - Chief Medical Officer and Head of Research & Development

Conference Call Participants

Eric Schmidt - Cantor Fitzgerald & Co., Research Division
Alec Stranahan - BofA Securities, Research Division
Marc Frahm - TD Cowen, Research Division
Tessa Romero - JPMorgan Chase & Co, Research Division

Presentation

Operator

Good morning, and welcome to Agios Pharmaceuticals Third Quarter 2025 Conference Call. [Operator Instructions] Please be advised that this call is being recorded at Agios' request.

I would now like to turn the call over to Morgan Sanford, Head of Investor Relations at Agios. Please go ahead, ma'am.

Morgan Sanford

Thank you, operator. Good morning, everyone. Thank you for joining us to discuss Agios Pharmaceuticals third quarter 2025 financial results and business highlights. You can access the slides for today's call by going to the Investors section of our website, agios.com.

Next slide, please. Please note we'll be making certain forward-looking statements today. Actual events and results could differ materially from those expressed or implied by any forward-looking statements because of various risks, uncertainties and other factors, including those set forth in our most recent filings with the SEC and any other future filings that we may make with the SEC.

Our third quarter earnings call agenda is shown on the next slide. Joining me on today's call are Brian Goff, Chief Executive Officer; Cecilia Jones, Chief Financial Officer; Tsveta Milanova, Chief Commercial Officer; and Dr. Sarah Gheuens, Chief Medical Officer and Head of Research and Development. Following prepared remarks, we will open the call for questions.

With that, please move to the next slide, and I am pleased to turn

Recommended For You