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Greenfield: Kinetic Invests $650,000 in Tornado Ravaged Town

Greenfield: Kinetic Invests $650,000 in Tornado Ravaged Town

Business Wire19-05-2025
DES MOINES, Iowa--(BUSINESS WIRE)--One year after a tornado devastated Greenfield, Kinetic, a local residential and business fiber internet service provider; the Greenfield Chamber of Commerce, and Iowa state officials gathered today to break ground on the company's latest fiber expansion investment in the town.
The commitment to 'Build Back Better' included an additional $400,000 of private funding to complete Kinetic's fiber expansion project in Greenfield, bringing high-speed internet to an additional 610 homes and businesses, as well as adding another 60,000 feet (around 11 miles) of buried fiber to its network.
Construction has already started, and once completed, Greenfield is expected to have 99,100 feet (around 19 miles) of buried fiber, covering the town, and a total of 920 homes and businesses will have access to critical high-speed internet.
'Today's groundbreaking is just another step in Greenfield's comeback story, offering connectivity that is critical in opening up new opportunities in business, education, healthcare—you name it,' said state Rep. Ray Sorensen. 'Greenfield experienced unimaginable devastation almost one year ago today; it's something this community and all Iowans will carry with us forever. I appreciate Kinetic for their continued partnership after the storm and now as they bring new hope and possibilities to a town most deserving.'
Kinetic's latest fiber build in Greenfield comes on the heels of a $250,000 rebuild the company completed last fall, replacing its copper-based network infrastructure with 28,500 feet of buried fiber (about 5.4 miles) after it was destroyed by the tornado last May.
As a long-standing partner to the Greenfield community, Kinetic technicians and engineers worked quickly to restore critical services after the tornado; they also identified the need to transition to a stronger, more sustainable, buried fiber optic network to better support Greenfieldians' needs.
Buried cables in some communities are inherently better protected against the elements than other technologies, reducing the opportunity for loss of service, even in the face of future storms or natural disasters.
'This past year we witnessed first-hand the indescribable strength of the Greenfield community. Your commitment to rebuilding is inspiring, and we're thankful to play a small role in helping you come back stronger than ever,' said Patrick Brimberry, president of Kinetic's Midwest Operations. 'Our investment in Greenfield is about so much more than just faster internet—it's about being a partner to this community through the good and the bad. We were with you after the tragic tornado struck one year ago, and we're still with you today, breaking ground for a brighter future.'
Kinetic will use its 'resi-plow' technology for the build, which will increase efficiency, speed and quality of installation of fiber optic-cables, while minimizing impacts on the environment, the town, and local property. The company has invested $2 million in the technology, which also enables faster repairs and reduces downtime if the fiber is damaged.
Kinetic's Greenfield fiber builds are part of a $2 billion multiyear investment strategy to dramatically expand its multi-gigabit fiber service across its 18-state footprint.
For more information about Kinetic's high-speed multi-gig fiber internet, and future projects, visit GoKinetic.com.
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About Kinetic: Kinetic, a Windstream company, offers reliable fiber-based broadband to consumers and small to medium-sized businesses in 18 states. The company's quality-first approach connects customers to new opportunities and possibilities by delivering a full suite of advanced communications services backed by robust security and friendly customer success experts. Kinetic is focused on expanding its fiber network and bridging the digital divide to deliver modern solutions to customers in underserved areas. Additional information about Kinetic is available via our customer portal at GoKinetic.com or windstream.com. The company also offers managed cloud communications and security services to mid-to-large enterprises, government entities and educational institutions across the U.S. as well as customized wavelength and dark fiber solutions to carriers, content providers and hyperscalers in the U.S. and Canada. Windstream is privately held and headquartered in Little Rock, Ark.
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CAVA Group Reports Second Quarter 2025 Results
CAVA Group Reports Second Quarter 2025 Results

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CAVA Group Reports Second Quarter 2025 Results

WASHINGTON--(BUSINESS WIRE)--CAVA Group, Inc. (NYSE: CAVA) ('CAVA Group' or the 'Company'), the category-defining Mediterranean fast-casual restaurant brand that brings heart, health, and humanity to food, today announced financial results for its fiscal second quarter ended July 13, 2025. 'During the second quarter of 2025, we continued to grow market share and firmly establish our category-defining leadership position,' said Brett Schulman, Co-Founder and CEO. 'Second quarter same restaurant sales grew 2.1%, and we opened 16 net new restaurants during the quarter. Despite the fluid macroeconomic environment, we grew CAVA Revenue 20.3%, and our 2025 new restaurant class is on track to deliver AUVs above $3 million. We recently opened our 400 th restaurant, marking a meaningful milestone on our path to 1,000 restaurants by 2032, reinforcing the proven portability and underlying strength fueling our continued growth.' Fiscal Second Quarter 2025 Highlights: CAVA Revenue grew 20.3% to $278.2 million as compared to $231.4 million in the prior year quarter and 62.6% as compared to the second quarter of fiscal 2023. Net New CAVA Restaurant Openings of 16, bringing total CAVA Restaurants to 398, a 16.7% increase in total CAVA Restaurants year over year. CAVA Same Restaurant Sales Growth of 2.1%. CAVA AUV of $2.9 million as compared to $2.7 million in the prior year quarter excluding the 53rd week of fiscal 2023. CAVA Restaurant-Level Profit of $73.3 million or growth of 19.6% over the prior year quarter, with CAVA Restaurant-Level Profit Margin of 26.3%. CAVA Digital Revenue Mix was 37.3%. CAVA Group Net Income of $18.4 million compared to $19.7 million of net income and $16.8 million of Adjusted Net Income 1 in the prior year quarter. CAVA Group Adjusted EBITDA 1 of $42.1 million compared to $34.3 million in the prior year quarter. Year to date net cash provided by operating activities of $98.9 million with Free Cash Flow 1 of $21.9 million. CAVA Fiscal Second Quarter 2025 Review: CAVA Revenue was $278.2 million, an increase of 20.3% compared with the second quarter of fiscal 2024. The increase was primarily driven by 75 Net New CAVA Restaurant Openings during or subsequent to the second quarter of fiscal 2024, which are exceeding our performance expectations, and CAVA Same Restaurant Sales Growth of 2.1% primarily from menu price and product mix with guest traffic being approximately flat. CAVA Restaurant-Level Profit Margin was 26.3% compared with 26.5% in the second quarter of fiscal 2024. The decrease was due to input costs associated with the launch of grilled steak in the middle of the second quarter of fiscal 2024 and incremental wage investments, partially offset by leverage from higher sales. CAVA Group Fiscal Second Quarter 2025 Review: General and administrative expenses were $32.1 million, or 11.4% of revenue, as compared to $28.3 million, or 12.1% of revenue, in the second quarter of fiscal 2024. General and administrative expenses, excluding equity-based compensation 1, were $27.5 million, or 9.8% of revenue, as compared to $24.7 million, or 10.6% of revenue, in the second quarter of fiscal 2024. The decrease of 80 basis points was primarily due to lower performance-based incentive compensation, leverage from higher sales, and lower legal costs, partially offset by investments to support future growth, including our CAVA Connect conference. Net income was $18.4 million, or 6.5% of revenue compared to $19.7 million in the second quarter of fiscal 2024. Assuming a consistent effective tax rate allocated to each fiscal quarter in the prior year (excluding the benefit from the release of the valuation allowance), Adjusted Net Income 1 in the prior year quarter was $16.8 million. The increase in Adjusted Net Income 1 was due to higher operating performance as noted below, partially offset by higher depreciation and amortization. Adjusted EBITDA 1 was $42.1 million, or 15.0% of revenue, an increase of $7.8 million, or 22.6%, compared to the second quarter of fiscal 2024. The increase was primarily driven by the number of and continued strength in the performance of Net New CAVA Restaurant Openings during or subsequent to the second quarter of fiscal 2024, improved operations across the system, and leverage in general and administrative expenses. 1 General and administrative expenses, excluding equity-based compensation, Adjusted Net Income, Adjusted EBITDA, and Free Cash Flow are non-GAAP financial measures. Reconciliations to the most directly comparable financial measures presented in accordance with GAAP are set forth in the tables at the end of this press release. Expand Fiscal Full-Year 2025 Outlook: CAVA Group announced today that it updated fiscal full-year 2025 guidance, as follows: Actual results may differ materially from CAVA Group's fiscal full-year 2025 guidance as a result of, among other things, the factors described under 'Forward-Looking Statements' below. A reconciliation of the forward-looking fiscal 2025 Adjusted EBITDA to net income cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted. About CAVA Group: CAVA is the category-defining Mediterranean fast-casual restaurant brand, bringing together healthful food and bold, satisfying flavors at scale. Our brand and our opportunity transcend the Mediterranean category to compete in the large and growing limited-service restaurant sector as well as the health and wellness food category. CAVA serves guests across age groups, genders, and income brackets and benefits from generational tailwinds created by consumer demand for healthy living and a demographic shift towards greater ethnic diversity. We meet consumers' desires to engage with convenient, authentic, purpose-driven brands that view food as a source of self-expression. The broad appeal of our food combined with these favorable industry trends drive our vast opportunity for continued growth. Earnings Conference Call: The Company will host a conference call on August 12, 2025, at 5:00 PM Eastern Time to discuss second quarter 2025 financial results as well as provide a business update. Investors will have the opportunity to listen to the conference call live through the webcast from the company's website on the investor relations page at A recorded webcast will be available on CAVA's investor relations website shortly after the call and available for up to one year. Cautionary Statement Regarding Forward-Looking Statements: This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that reflect our current views with respect to, among other things, our operations and financial performance. Forward-looking statements include all statements that are not historical facts. These forward-looking statements relate to matters such as our industry, business strategy, goals, expectations concerning our market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources, and other financial and operating information. These statements may include words such as 'anticipate,' 'assume,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'future,' 'will,' 'seek,' 'foreseeable,' 'outlook,' the negative version of these words or similar terms and phrases. The forward-looking statements contained in this press release are based on management's current expectations and are not guarantees of future performance. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs, and projections will result or be achieved. Moreover, we operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory, and other factors, many of which are beyond our control. We believe that these factors include but are not limited to the following: we operate in a highly competitive industry; our future growth depends on our ability to open new restaurants while managing our growth effectively and maintaining our culture, and our historical growth may not be indicative of our future growth; we may not be able to successfully identify appropriate locations and develop and expand our operations in existing and new markets; new restaurants may not be profitable, and may negatively impact sales at our existing locations; negative changes in guest perception of our brand could negatively impact our business; our efforts to market our restaurants and brand may not be successful; food safety issues, and food-borne illness concerns may harm our business; if we are unable to maintain or increase prices, our margins may decrease; the growth of our business depends on our ability to accurately predict guest trends and demand and successfully introduce new menu offerings and improve our existing menu offerings; economic factors and guest behavior trends, which are uncertain and largely beyond our control, may adversely affect guests' behavior and our ability to maintain or increase sales at our restaurants; we are subject to risks associated with leasing property; we may not be able to successfully expand our digital and delivery business, which is subject to risks outside of our control; our inability or failure to utilize, recognize, respond to, and effectively manage the immediacy of social media could have a material adverse effect on our business; we may not realize the anticipated benefits from past and potential future acquisitions, investments, or other strategic initiatives; we may not be able to manage our manufacturing and supply chain effectively, which may adversely affect our results of operations; our reliance on third parties could have an adverse effect on our business, financial condition, and results of operations; we may experience shortages, delays, or interruptions in the delivery of food items and other products; we may not successfully optimize, operate, and manage our production facilities; we may face increases in food, commodity, energy, and other costs; we may face increases in labor costs, labor shortages, and difficulties in our ability to identify, hire, train, motivate and retain the right team members; our success depends on our ability to attract, develop, and retain our management team and key team members; security breaches of our electronic processing of credit and debit card transactions, the CAVA app, or confidential guest or team member information (including personal information) may adversely affect our business; our business is subject to complex and evolving laws and regulations regarding privacy, data protection, and cybersecurity; we rely heavily on information technology systems and failures of, or interruptions in, or not effectively scaling and adapting, our information technology systems could harm our business; we are subject to evolving rules and regulations with respect to environmental, social and governance matters; climate change and volatile adverse weather conditions could adversely affect our restaurant sales or results of operations; and each of the other factors set forth in 'Part I—Item 1A. Risk Factors' in our Annual Report on Form 10-K for the fiscal year ended December 29, 2024, and in other reports filed with the United States Securities and Exchange Commission, all of which are available on the investor relations page of our website at The forward-looking statements included in this press release are made only as of the date hereof. Any forward-looking statement made by us in this press release speaks only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Non-GAAP Financial Measures: In addition to our consolidated financial statements, which are prepared in accordance with GAAP, we present Adjusted EBITDA, Adjusted EBITDA Margin, general and administrative expenses, excluding equity-based compensation, Adjusted Net Income, Adjusted Diluted Earnings Per Share, and Free Cash Flow in this press release as supplemental measures of financial performance that are not required by, or presented in accordance with, GAAP. We believe they assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our operating performance. Management believes Adjusted EBITDA, Adjusted EBITDA Margin, general and administrative expenses, excluding equity-based compensation, Adjusted Net Income, Adjusted Diluted Earnings Per Share, and Free Cash Flow are useful to investors in highlighting trends in our operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which we operate, and capital investments. Management uses Adjusted EBITDA, Adjusted EBITDA Margin, general and administrative expenses, excluding equity-based compensation, Adjusted Net Income, Adjusted Diluted Earnings Per Share, and Free Cash Flow to supplement GAAP measures of performance in the evaluation of the effectiveness of our business strategies, to make budgeting decisions, and to compare our performance against that of other peer companies using similar measures. Management supplements GAAP results with non-GAAP financial measures to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone provide. Adjusted EBITDA, Adjusted EBITDA Margin, general and administrative expenses, excluding equity-based compensation, Adjusted Net Income, Adjusted Diluted Earnings Per Share, and Free Cash Flow are not recognized terms under GAAP and should not be considered as alternatives to net income, net income margin, or general and administrative expenses, as applicable, as measures of financial performance or cash provided by operating activities as measures of liquidity, or any other performance measure derived in accordance with GAAP. Additionally, Adjusted EBITDA and Free Cash Flow are not intended to be measures of free cash flow available for management's discretionary use, as Adjusted EBITDA does not consider certain cash requirements such as tax payments and financing cash flows, and Free Cash Flow does not consider certain cash requirements such as financing cash flows. Our non-GAAP measures have limitations as analytical tools, and you should not consider them in isolation, or as substitutes for analysis of our results as reported under GAAP. Some of these limitations are: Adjusted EBITDA and Adjusted Net Income do not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments; Adjusted EBITDA and Adjusted Net Income do not reflect changes in, or cash requirements for, our working capital needs; Adjusted EBITDA, Adjusted Net Income, and Free Cash Flow do not reflect cash flows from financing activities of our business; Adjusted EBITDA does not reflect period to period changes in taxes, income tax expense, or the cash necessary to pay income taxes; Adjusted EBITDA does not reflect the impact of earnings or cash charges resulting from matters we consider not to be indicative of our ongoing operations; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for such replacements; and other companies in our industry may calculate Adjusted EBITDA, Adjusted EBITDA Margin, general and administrative expenses, excluding equity-based compensation, Adjusted Net Income, Adjusted Diluted Earnings Per Share, and Free Cash Flow differently than we do, limiting their usefulness as comparative measures. The following table summarizes the results of the CAVA segment: The following table presents selected quarterly financial and other data: July 13, 2025 April 20, 2025 December 29, 2024 October 6, 2024 July 14, 2024 ($ in thousands) (Q2 2025) (Q1 2025) (Q4 2024) (Q3 2024) (Q2 2024) Net New CAVA Restaurant Openings 16 15 15 11 18 CAVA Restaurants, end of period 398 382 367 352 341 CAVA Same Restaurant Sales Growth 1 2.1 % 10.8 % 21.2 % 18.1 % 14.4 % CAVA AUV 2 $ 2,939 $ 2,933 $ 2,865 $ 2,784 $ 2,689 CAVA Restaurant-Level Profit $ 73,262 $ 82,305 $ 50,413 $ 61,819 $ 61,265 CAVA Restaurant-Level Profit Margin 26.3 % 25.1 % 22.4 % 25.6 % 26.5 % CAVA Restaurant Operating Weeks 4,659 5,935 4,299 4,159 3,963 Expand 1 To achieve an optimal comparison of fiscal weeks in the CAVA Same Restaurant Sales Growth calculation in fiscal 2024, giving consideration to holiday periods, each week of fiscal 2023 was shifted by one week due to the 53rd week of fiscal year 2023. As a result of this shift, approximately $3.9 million of revenue is not included in CAVA Same Restaurant Sales Growth for Q1 2024, and an additional $4.0 million of revenue is included in CAVA Same Restaurant Sales Growth for Q4 2024. Had this shift not been made, CAVA Same Restaurant Sales Growth would have been 18.3% in Q4 2024. CAVA Same Restaurant Sales Growth would have been immaterially impacted in Q2 2024, Q3 2024, and for the full year fiscal 2024. 2 For purposes of calculating CAVA AUV for Q4 2024, Q1 2025, and Q2 2025, the applicable measurement period is the trailing thirteen periods ended December 29, 2024, April 20, 2025, and July 13, 2025 respectively. For purposes of calculating CAVA AUV for Q2 2024 and Q3 2024, the applicable measurement period is the trailing thirteen periods ended July 14, 2024 and October 6, 2024, respectively, excluding the 53rd week of fiscal year 2023. Expand The following table presents the Company's selected balance sheet data: (in thousands) July 13, 2025 December 29, 2024 Cash and cash equivalents $ 290,172 $ 366,120 Investments at fair value 95,611 — Total assets 1,291,634 1,169,669 Total liabilities 540,925 474,103 Total stockholders' equity 750,709 695,566 Total liabilities and stockholders' equity 1,291,634 1,169,669 Expand The following table shows the growth in our company-owned CAVA Restaurant base: Non-GAAP Financial Measures The following table reconciles net income to Adjusted EBITDA and net income margin to Adjusted EBITDA margin for the periods indicated: Twelve Weeks Ended Twenty-Eight Weeks Ended (in thousands) July 13, 2025 July 14, 2024 July 13, 2025 July 14, 2024 Net income $ 18,368 $ 19,741 $ 44,075 $ 33,734 Non-GAAP Adjustments Interest income, net (3,581 ) (3,824 ) (8,198 ) (8,738 ) Provision for (benefit from) income taxes 5,332 287 (21 ) 539 Depreciation and amortization 16,815 13,733 37,626 31,055 Equity-based compensation 4,570 3,571 11,232 8,741 Other income, net (474 ) (60 ) (501 ) (138 ) Impairment and asset disposal costs 1,074 830 2,741 2,120 Restructuring and other costs — 70 — 352 Adjusted EBITDA $ 42,104 $ 34,348 $ 86,954 $ 67,665 Revenue $ 280,615 $ 233,495 $ 612,441 $ 492,501 Net income margin 6.5 % 8.5 % 7.2 % 6.8 % Adjusted EBITDA margin 15.0 % 14.7 % 14.2 % 13.7 % Expand The following table reconciles general and administrative expenses to general and administrative expenses, excluding equity-based compensation, for the periods indicated: The following table reconciles net income to Adjusted Net Income and diluted earnings per share to Adjusted Diluted Earnings Per Share for the periods indicated: 1 Reflects an allocation of income tax expense excluding the net benefit from the release of the valuation allowance previously recorded against our deferred tax assets (the "VA Release") recorded in Q4 2024 assuming a consistent effective tax rate. Expand The following table reconciles net cash provided by operating activities to Free Cash Flow for the periods indicated: Glossary: The following definitions apply to these terms as used in this press release: "Adjusted Diluted Earnings Per Share" is defined as Adjusted Net Income divided by diluted weighted-average common shares outstanding; 'Adjusted EBITDA' is defined as net income adjusted to exclude interest income, net, provision for (benefit from) income taxes, and depreciation and amortization, further adjusted to exclude equity-based compensation, other income, net, impairment and asset disposal costs, and restructuring and other costs, in each case, to the extent applicable in a given fiscal period. See 'Non-GAAP Financial Measures' for a reconciliation of net income to Adjusted EBITDA for the twelve and twenty-eight weeks ended July 13, 2025 and July 14, 2024; 'Adjusted EBITDA Margin' is defined as Adjusted EBITDA as a percentage of revenue; 'Adjusted Net Income' is defined as net income in the prior year fiscal 2024 periods adjusted to exclude the net benefit associated with the release of a valuation allowance previously recorded against deferred tax assets ("VA Release"). In addition, Adjusted Net Income includes an allocation of total fiscal 2024 income tax expense excluding the VA Release to each quarter assuming a consistent effective tax rate. See 'Non-GAAP Financial Measures' for a reconciliation of net income to Adjusted Net Income for the twelve and twenty-eight weeks ended July 13, 2025 and July 14, 2024; 'Adjusted Net Income Margin' is defined as Adjusted Net Income as a percentage of revenue; 'CAVA Average Unit Volume' or 'CAVA AUV' represents total revenue of operating CAVA Restaurants that were open for the entire trailing thirteen periods, and digital kitchens sales for such period, divided by the number of operating CAVA Restaurants that were open for the entire trailing thirteen periods; 'CAVA digital kitchen' is defined to include kitchens used for third-party marketplace and native delivery, digital order pickup, and/or centralized catering production and that has neither in-restaurant dining nor customer-facing make lines; 'CAVA Digital Revenue Mix' represents the portion of CAVA Revenue related to digital orders as a percentage of total CAVA Revenue; 'CAVA hybrid kitchen' is defined to include kitchens that have enhanced kitchen capabilities to support centralized catering production and that also have in-restaurant dining and customer-facing make lines; "CAVA Restaurant Operating Weeks" represents the aggregate number of weeks each of our CAVA Restaurants has been open in a given period; 'CAVA Restaurant-Level Profit,' a segment measure of profit and loss, represents CAVA Revenue less food, beverage, and packaging, labor, occupancy, and other operating expenses, excluding depreciation and amortization. CAVA Restaurant-Level Profit excludes pre-opening costs; 'CAVA Restaurant-Level Profit Margin' represents CAVA Restaurant-Level Profit as a percentage of CAVA Revenue; 'CAVA Restaurants' is defined to include all CAVA restaurants, including converted Zoes Kitchen locations and CAVA hybrid kitchens, that are open or temporarily closed as of the end of the specific period. CAVA Restaurants exclude restaurants operating under license agreements and CAVA digital kitchens; 'CAVA Revenue' is defined to include all revenue attributable to CAVA restaurants in the specified period, excluding restaurants operating under license agreements; 'CAVA Same Restaurant Sales Growth' is defined as the period-over-period sales comparison for CAVA restaurants that have been open for 365 days or longer (including converted Zoes Kitchen locations that have been open for 365 days or longer after the completion of the conversion to a CAVA restaurant); 'digital orders' means orders made through catering and digital channels, such as the CAVA app and the CAVA website. Digital orders include orders fulfilled through third-party marketplace and native delivery and digital order pick-up; 'Free Cash Flow' means net cash provided by operating activities less purchases of property and equipment; 'guest traffic' means the number of entrees ordered in-restaurant and through digital orders; and 'Net New CAVA Restaurant Openings' is defined as new CAVA restaurant openings (including CAVA restaurants converted from a Zoes Kitchen location) during a specified reporting period, net of any permanent CAVA restaurant closures during the same period. We operate on a 52-week or 53-week fiscal year that ends on the last Sunday of the calendar year. In a 52-week fiscal year, the first fiscal quarter contains sixteen weeks and the second, third, and fourth fiscal quarters each contain twelve weeks. In a 53-week fiscal year, the first fiscal quarter contains sixteen weeks, the second and third fiscal quarters each contain twelve weeks, and the fourth fiscal quarter contains thirteen weeks. References to 'thirteen periods' are to the 13 accounting periods we have in each fiscal year, with each accounting period being four weeks, except in a 53-week fiscal year which will contain one accounting period of five weeks. Certain numerical figures have been subject to rounding adjustments. Accordingly, numerical figures shown as totals in various tables may not be arithmetic aggregations of the figures that precede them.

Barings Global Short Duration High Yield Fund Announces August 2025 Monthly Distribution of $0.1223 per Share
Barings Global Short Duration High Yield Fund Announces August 2025 Monthly Distribution of $0.1223 per Share

Business Wire

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  • Business Wire

Barings Global Short Duration High Yield Fund Announces August 2025 Monthly Distribution of $0.1223 per Share

CHARLOTTE, N.C.--(BUSINESS WIRE)--The Barings Global Short Duration High Yield Fund (the 'Fund') (NYSE: BGH) announced its monthly dividend for August 2025 of $0.1223 per share, payable on September 2, 2025. Based on the Fund's July 31, 2025 share price of $15.72 per share, the dividend represents an annualized yield of 9.34% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income. In addition, the Fund announced estimated monthly dividends of $0.1223 per share for September 2025 and October 2025 The dividend schedule appears below: The Fund also announced a special distribution of $0.2410 per share payable on September 2, 2025. This special distribution is being paid to allow the Fund to meet its 2024 distribution requirements as a Regulated Investment Company. The Fund anticipates that this distribution will be paid from net investment income. The following dates apply to the special distribution declared today: The total amount to be paid on September 2, 2025, inclusive of the regular and special dividend, is $0.3633 per share. The Fund seeks to pay a distribution at a rate that reflects net investment income actually earned. A portion of each distribution may be treated as paid from sources other than net investment income, including but not limited to short-term capital gain, long-term capital gain or return of capital. The final determination of the source and tax characteristics of these distributions will depend upon the Fund's investment experience during its fiscal year and will be made after the Fund's year end. The Fund will send to investors a Form 1099-DIV for the calendar year that will define how to report these distributions for federal income tax purposes. The Fund is a non-diversified, closed-end management investment company that is managed by Barings LLC. The Fund invests primarily in short-duration, global high yield bonds with the objective of seeking as high a level of current income as Barings determines is consistent with capital preservation, with a secondary objective of capital appreciation. The Fund expects to maintain a weighted average portfolio duration, including the effects of leverage, of 3 years or less. Cautionary Notice: Certain statements contained in this press release may be "forward looking" statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date in which they are made and which reflect management's current estimates, projections, expectations or beliefs, and which are subject to risks and uncertainties that may cause actual results to differ materially. These statements are subject to change at any time based upon economic, market or other conditions and may not be relied upon as investment advice or an indication of the Fund's trading intent. References to specific securities are not recommendations of such securities, and may not be representative of the Fund's current or future investments. We undertake no obligation to publicly update forward looking statements, whether as a result of new information, future events, or otherwise. Past performance is not necessarily indicative of future results. About Barings Barings is a $456 billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions. 1 Amounts represent estimates for September and October.

AbCellera to Participate at Upcoming Investor Conferences in September
AbCellera to Participate at Upcoming Investor Conferences in September

Business Wire

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  • Business Wire

AbCellera to Participate at Upcoming Investor Conferences in September

VANCOUVER, British Columbia--(BUSINESS WIRE)-- AbCellera (Nasdaq: ABCL) today announced that the Company will participate in the following investor conferences: Wells Fargo Healthcare Conference, September 3-5, 2025 Morgan Stanley Annual Global Healthcare Conference, September 8-10, 2025 Visit AbCellera's Investor Relations website for additional information. About AbCellera Biologics Inc. AbCellera (Nasdaq: ABCL) is a clinical-stage biotechnology company focused on discovering and developing antibody-based medicines in the areas of endocrinology, women's health, immunology, and oncology. For more information, please visit

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