Baker Hughes Says 230 Drilling Rigs Are Working in Saudi Arabia
'Baker Hughes has established that as of today, more than 230 rigs are working across operations in Saudi Arabia,' the Houston-based company said in a statement on its website Sunday. 'The operations related to drilling rigs, including production testing, non-rotational rigs, completions or workovers rigs, rigs under mobilization, have not historically been reflected in worldwide rig counts,' Baker Hughes added.
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HSBC to Shut Retail Operation in Bangladesh Amid Simplification Push
HSBC Holdings Plc HSBC plans to begin a phased wind-down of its International Wealth and Premier Banking (Retail Banking) in Bangladesh starting in the second half of 2025, as part of its ongoing global business overhaul. Rationale Behind HSBC's Retail Exit in Bangladesh The closure stems from HSBC's strategic review of its retail banking businesses in four Asian markets, namely, Bangladesh, Australia, Indonesia and Sri Lanka. While the review continues for the latter three, the decision for Bangladesh has been finalized. HSBC will immediately cease onboarding new retail clients and will continue to support existing ones through the exit process. Its Corporate and Institutional Banking operations in Bangladesh remain unaffected. HSBC's Bangladesh Exit Aligns With Simplification Effort The move is part of HSBC Group's simplification strategy outlined in October 2024, focusing on strengthening market leadership in areas where the bank has a competitive edge and growth potential. In line with its simplification strategy, HSBC is gradually exiting non-core operations across the United Kingdom, continental Europe and the United States. At the same time, the bank is sharpening its regional focus in Asia and the Middle East. The recent divestment activity includes Uruguay, Germany, South Africa, Bahrain and France. In July 2025, HSBC also agreed to divest its life insurance subsidiary, HSBC Life (UK) Limited, to Chesnara for £260 million in cash. Subject to regulatory approvals, the deal is expected to close in early 2026. In the same month, HSBC Continental Europe entered into an agreement to sell its custody operations in Germany to BNP Paribas. In March 2025, the company's U.K. division, HSBC UK Bank plc, announced the sale of its U.K. private client trust business to Ludlow Trust. HSBC is also progressing with divestments in South Africa and Bahrain. Apart from these, it has completed the sale of its businesses in the United States, Canada, New Zealand, Greece, Russia, Argentina and Armenia, as well as the retail banking operations in France and Mauritius. Driven by these efforts, HSBC aims to deliver $1.5 billion in annualized savings by 2026. To implement the plan, the bank will likely incur nearly $1.8 billion in severance and other upfront charges by the end of next year. Additionally, the bank plans to redeploy approximately $1.5 billion of costs from non-strategic or low-returning activities into its core strategy, where it has competitive strength. HSBC's Price Performance & Zack Rank In the past year, shares of HSBC have rallied 51.8% on the NYSE, outperforming the industry's growth of 40.2%. Image Source: Zacks Investment Research At present, HSBC carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Similar Moves by Other Finance Stocks In July 2025, Capital One Financial Corporation COF announced plans to wind down the home equity lending unit that came under its portfolio after the acquisition of Discover Financial in May. COF's decision to exit Discover's home equity and refinance loan business follows an extensive strategic review, signaling a focused approach to reshaping its portfolio post-acquisition. Although COF is shutting the originations pipeline, it will continue to service the existing portfolio and assess strategic options for sale and servicing. In June 2025, Morgan Stanley MS announced its plan to shut its automated market-making business that specializes in electronic market-making for U.S. stock options. The unit had been part of the MS efforts to execute options trades electronically and pay retail brokers for order flow. The company is winding down its options market-making operations, stepping back from a sector increasingly dominated by high-speed trading firms. The decision marks a strategic exit from a business where electronic execution and payment for order flow had been central. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Morgan Stanley (MS) : Free Stock Analysis Report Capital One Financial Corporation (COF) : Free Stock Analysis Report HSBC Holdings plc (HSBC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
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Ameresco (NYSE:AMRC) Reports Strong Q2, Stock Jumps 16.3%
Energy and renewable energy projects company Ameresco (NYSE:AMRC) reported Q2 CY2025 results topping the market's revenue expectations , with sales up 7.8% year on year to $472.3 million. The company's full-year revenue guidance of $1.9 billion at the midpoint came in 0.6% above analysts' estimates. Its non-GAAP profit of $0.27 per share was significantly above analysts' consensus estimates. Is now the time to buy Ameresco? Find out in our full research report. Ameresco (AMRC) Q2 CY2025 Highlights: Revenue: $472.3 million vs analyst estimates of $417.8 million (7.8% year-on-year growth, 13% beat) Adjusted EPS: $0.27 vs analyst estimates of $0.07 (significant beat) Adjusted EBITDA: $56.15 million vs analyst estimates of $51.49 million (11.9% margin, 9% beat) The company reconfirmed its revenue guidance for the full year of $1.9 billion at the midpoint Management reiterated its full-year Adjusted EPS guidance of $0.80 at the midpoint EBITDA guidance for the full year is $235 million at the midpoint, in line with analyst expectations Operating Margin: 5.9%, up from 4.8% in the same quarter last year Free Cash Flow was $80.85 million, up from -$69.54 million in the same quarter last year Market Capitalization: $834.8 million CEO George Sakellaris commented, 'This was another strong quarter for Ameresco as the team continued its excellent execution across our broad operating footprint. Revenue growth of 8% exceeded our expectations, particularly considering the strong first quarter results during which we executed on projects worth approximately $30 million faster than anticipated. Second quarter revenue performance reflected strength across our business lines and was driven by continued growth in Europe and our Energy Asset business. Adjusted EBITDA increased 24%, demonstrating the significant operating leverage we believe is inherent in our Company's unique business model, while Non-GAAP EPS was $0.17 higher from a year ago. In the second quarter, we also continued to further strengthen our foundation for future profitable growth with successful business development activities. The Company added over $550.0 million of new project awards during the quarter. Total Project Backlog stands at a record of $5.1 billion, with Energy Infrastructure and resiliency projects accounting for almost half. Company Overview Having played a role in upgrading the energy solutions of Alcatraz Island, Ameresco (NYSE:AMRC) provides energy and renewable energy solutions for various sectors. Revenue Growth A company's long-term performance is an indicator of its overall quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Luckily, Ameresco's sales grew at an exceptional 14.3% compounded annual growth rate over the last five years. Its growth beat the average industrials company and shows its offerings resonate with customers. We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. Ameresco's annualized revenue growth of 16.4% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated. This quarter, Ameresco reported year-on-year revenue growth of 7.8%, and its $472.3 million of revenue exceeded Wall Street's estimates by 13%. Looking ahead, sell-side analysts expect revenue to grow 5.5% over the next 12 months, a deceleration versus the last two years. This projection doesn't excite us and indicates its products and services will face some demand challenges. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Operating Margin Operating margin is one of the best measures of profitability because it tells us how much money a company takes home after procuring and manufacturing its products, marketing and selling those products, and most importantly, keeping them relevant through research and development. Ameresco was profitable over the last five years but held back by its large cost base. Its average operating margin of 6.7% was weak for an industrials business. This result isn't too surprising given its low gross margin as a starting point. Analyzing the trend in its profitability, Ameresco's operating margin decreased by 1.4 percentage points over the last five years. This raises questions about the company's expense base because its revenue growth should have given it leverage on its fixed costs, resulting in better economies of scale and profitability. Ameresco's performance was poor no matter how you look at it - it shows that costs were rising and it couldn't pass them onto its customers. This quarter, Ameresco generated an operating margin profit margin of 5.9%, up 1.1 percentage points year on year. The increase was encouraging, and because its operating margin rose more than its gross margin, we can infer it was more efficient with expenses such as marketing, R&D, and administrative overhead. Earnings Per Share Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Ameresco's EPS grew at an unimpressive 6.8% compounded annual growth rate over the last five years, lower than its 14.3% annualized revenue growth. This tells us the company became less profitable on a per-share basis as it expanded. Diving into the nuances of Ameresco's earnings can give us a better understanding of its performance. As we mentioned earlier, Ameresco's operating margin expanded this quarter but declined by 1.4 percentage points over the last five years. Its share count also grew by 8.9%, meaning the company not only became less efficient with its operating expenses but also diluted its shareholders. Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business. For Ameresco, its two-year annual EPS growth of 12.7% was higher than its five-year trend. This acceleration made it one of the faster-growing industrials companies in recent history. In Q2, Ameresco reported adjusted EPS at $0.27, up from $0.10 in the same quarter last year. This print easily cleared analysts' estimates, and shareholders should be content with the results. Over the next 12 months, Wall Street expects Ameresco's full-year EPS of $1.36 to shrink by 18.9%. Key Takeaways from Ameresco's Q2 Results We were impressed by how significantly Ameresco blew past analysts' EPS expectations this quarter. We were also excited its EBITDA outperformed Wall Street's estimates by a wide margin. That the company largely reaffirmed previously-provided full-year guidance shows that Ameresco is squarely on track and that the guidance could even be conservative. Zooming out, we think this quarter featured some important positives. The stock traded up 16.3% to $19.45 immediately after reporting. Ameresco had an encouraging quarter, but one earnings result doesn't necessarily make the stock a buy. Let's see if this is a good investment. When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free. 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Geospace Technologies Acquires National Lab Developed Heartbeat Detector Technology
Advanced Analytics Detection Product Adds to the Company's Security Portfolio HOUSTON, August 04, 2025--(BUSINESS WIRE)--Geospace Technologies Corporation (NASDAQ: GEOS) today announced the acquisition of Heartbeat Detector®, a heartbeat detection security technology developed by the United States Department of Energy's Oak Ridge National Laboratory (ORNL). Effective July 31, 2025, Geospace acquired 100 percent of the outstanding shares from GeoVox Security, Inc., the company who first licensed and commercialized the technology from ORNL. Heartbeat Detector® uses a proprietary algorithm developed by ORNL researchers to reveal individuals attempting to hide in vehicles at security checkpoints by detecting a beating heart. Used in more than a dozen countries to address human trafficking and prison security, the Heartbeat Detector® is a small, portable device that uses proprietary sensors to rapidly identify people hidden in vehicles, providing a modern, user-friendly interface in as little as 10 seconds. The product, which relies on GS-ONE LF single-element geophones manufactured by Geospace, has been proven 99% effective by Oak Ridge, Sandia and Thunder Mountain national laboratories. Domestically, the Heartbeat Detector® is used extensively by departments of corrections and prison systems. Globally, the product has been leveraged for border crossings and prisons in Lithuania, Slovenia, Ukraine, Hong Kong, Czech Republic, Spain, France and Germany. The estimated market size for global prison facilities is 10,000 locations. There are more than 300 manned border checkpoint crossings in the United States and more than double that in Europe based on EU estimates. "Our sensing products have a history in border and perimeter security applications. With this acquisition, we are responding to market demand for an accurate, simple, portable technology to combat human trafficking, illegal border crossings, entrance and exit from critical facilities, and prison breaks. The Heartbeat Detector® will align well with our current perimeter security and surveillance offerings in the Intelligent Industrial business segment," said Rich Kelley, CEO of Geospace Technologies. "As part of our long-term growth plan, we have sought out immediately accretive acquisitions to our newly established business segments. We intend to offer the Heartbeat Detector® on a subscription basis to enable the customer base to streamline acquisition through lower upfront costs. This recurring revenue business model is becoming increasingly important in the strategic growth strategy of our company." "It is deeply gratifying to see success in this partnership to commercialize ORNL's heartbeat detection technology," said Jen Caldwell, director of technology transfer at Oak Ridge National Labs. "We strive to develop innovations of lasting market value that make significant contributions in a wide range of applications including safety and security. This heartbeat detection technology has more than achieved this objective, and we look forward to future successes with our partner Geospace, who shares our mission to tackle tough scientific challenges." "Having achieved this sale agreement with Geospace maintains the vision my father had when he licensed the heartbeat detection algorithm from ORNL more than 25 years ago," said Andrew White, GeoVox president and son of former Texas Governor Mark White. "This transition into the capable business model of Geospace will further my father's legacy as the company advances this safety and security technology to the next level." About Geospace TechnologiesGeospace Technologies is a global technology and instrumentation manufacturer specializing in vibration sensing and highly ruggedized products which serve energy, industrial, government and commercial customers worldwide. The Company's products blend engineering expertise with advanced analytic software to optimize energy exploration, enhance national and homeland security, empower water utility and property managers, and streamline electronic printing solutions. With more than four decades of operational excellence, the Company's more than 600 employees across the world are dedicated to engineering and technical quality. Geospace is traded on the U.S. NASDAQ stock exchange under the ticker symbol GEOS. For more information, visit View source version on Contacts Media Contact:Caroline Kempfckempf@ 713-986-8710 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
