New Global Trade Benchmark: Envision Energy and Marubeni Sign Green Ammonia Offtake Agreement
The partnership brings together Envision Energy's leadership in integrated green hydrogen-ammonia solutions with Marubeni's expansive global network and energy trade expertise, facilitating large-scale production, supply, and commercialization of green ammonia. It aims to fast-track the global transition to low-carbon energy solutions, particularly in industries such as chemicals and fertilizers, driving sustainable growth across diverse sectors worldwide. This collaboration will also accelerate Japan's shift to a green economy, drive greater investment and innovation, and support the government's sustainability goals.
"The global energy landscape is undergoing profound changes, with hydrogen-ammonia playing an increasingly pivotal role." said Mr. Frank Yu, Senior Vice President of Envision Energy, "Together with Marubeni, we are accelerating the commercialization of ammonia, turning it into a key energy solution that powers the world's transition to carbon-neutral fuels. This partnership lays the groundwork for ammonia-powered transportation and electricity generation, ultimately fostering a cleaner and more sustainable energy ecosystem."
Envision Energy is the world's leading green hydrogen producer and the only company that possesses core technologies in renewable energy, hydrogen production, and net-zero industrial park, targeting for decarbonization at scale by green hydrogen-ammonia solutions. By pioneering full-stack green hydrogen technologies, including alkaline and PEM electrolysis technologies, along with its engineering competences and system integration capabilities, the company aims to address key challenges in the green hydrogen arena, particularly those related to efficiency and the intermittency of renewable energy sources.
The company is at the forefront of developing the world's largest commercial green hydrogen-ammonia plant, leveraging its innovative net-zero industrial park model and full-stack green hydrogen technologies. Fully powered by green electricity from directly coupled wind and solar energy, the plant efficiently integrates wind, solar and storage with hydrogen-ammonia production to optimize costs and enhance sustainability. The initial production phase, launched in early 2024, targets 300,000 tons of green ammonia annually and plans to scale up to a total annual capacity of 1.5 million tons upon completion. Envision's outstanding contribution to decarbonization earned it the Energy Transition Changemaker Award at COP28 and recognition as an "Energy Innovator" on Fortune's Change the World list in 2024.
View original content:https://www.prnewswire.com/news-releases/new-global-trade-benchmark-envision-energy-and-marubeni-sign-green-ammonia-offtake-agreement-302471374.html
SOURCE Envision Energy
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
4 hours ago
- Yahoo
Cooper Standard Raises Full Year Adjusted EBITDA Guidance as Second Quarter and First Half Results Exceed Expectations
NORTHVILLE, Mich., July 31, 2025 /PRNewswire/ -- Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the second quarter 2025. Second Quarter 2025 Highlights Gross profit of $93.1 million, an increase of 12.2% vs. the second quarter of 2024 Operating income of $37.3 million, an increase of 234.5% vs. the second quarter of 2024 Net loss of $1.4 million, or $(0.08) per diluted share, an improvement of $74.8 million vs. the second quarter of 2024 Adjusted net income of $1.0 million, or $0.06 per diluted share, an improvement of $12.3 million vs. the second quarter of 2024 Adjusted EBITDA of $62.8 million, or 8.9% of sales, an increase of $11.9 million vs. the second quarter of 2024 "Through the outstanding effort and commitment of our global team, our operating performance and financial results in the first and second quarters of the year exceeded our plan," said Jeffrey Edwards, chairman and CEO, Cooper Standard. "We expect our execution in the second half to offset the impact of lower light vehicle production volume and ongoing inflationary headwinds. As a result, we are raising our full year adjusted EBITDA guidance." Consolidated ResultsThree Months Ended June 30,Six Months Ended June 30,2025202420252024(Dollar amounts in millions except per share amounts) Sales $ 706.0$ 708.4$ 1,373.0$ 1,384.8 Net (loss) income $ (1.4)$ (76.2)$ 0.2$ (107.9) Adjusted net income (loss) $ 1.0$ (11.3)$ 4.5$ (41.9) (Loss) income per diluted share $ (0.08)$ (4.34)$ 0.01$ (6.16) Adjusted income (loss) per diluted share $ 0.06$ (0.64)$ 0.25$ (2.39) Adjusted EBITDA $ 62.8$ 50.9$ 121.5$ 80.3 Sales declined by 0.3% in the second quarter due primarily to unfavorable volume and mix, including net customer price adjustments, partially offset by foreign exchange. Net loss for the second quarter of 2025 was $1.4 million, including restructuring charges of $2.9 million and other special items. Net loss for the second quarter of 2024 was $76.2 million, including restructuring charges of $17.8 million and other special items. Excluding these special items and their related tax impact, adjusted net income was $1.0 million in the second quarter of 2025 compared to adjusted net loss of $11.3 million in the second quarter of 2024, or an improvement of $12.3 million. The year-over-year improvement was primarily driven by increased manufacturing and purchasing efficiency and savings realized from past headcount initiatives. These positive drivers were partially offset by unfavorable volume, mix and price, and ongoing general inflation. Adjusted EBITDA for the second quarter of 2025 was $62.8 million compared to $50.9 million in the second quarter of 2024. The year-over-year improvement was primarily driven by increased manufacturing and purchasing efficiency and savings realized from past headcount initiatives. These positive drivers were partially offset by unfavorable volume, mix and price, and ongoing general inflation. Adjusted net income (loss), adjusted EBITDA and adjusted income (loss) per diluted share are non-GAAP measures. Reconciliations to the most directly comparable financial measures, calculated and presented in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"), are provided in the attached supplemental schedules. New Business Awards The Company continues to leverage its world-class engineering and manufacturing capabilities, its innovation programs and its reputation for quality and service to win new business awards with its OEM customers and capitalize on positive trends associated with hybrid and battery electric vehicles. During the second quarter of 2025, the Company received net new business awards totaling $77.1 million in anticipated future annualized sales. Through the first six months of 2025, the Company has received $132.0 million in net new business awards, primarily related to battery-electric and hybrid vehicle platforms. Segment Results of Operations SalesThree Months Ended June 30, Variance Due To:20252024Change Volume/ Mix*ForeignExchange(Dollar amounts in thousands) Sales to external customers Sealing systems $ 364,368$ 364,946$ (578) $ (4,243)$ 3,665 Fluid handling systems 322,430322,742(312) (887)575* Net of customer price adjustments, including recoveries. Adjusted EBITDAThree Months Ended June 30, Variance Due To:20252024Change Volume/Mix*ForeignExchangeCostDecreases/(Increases)**(Dollar amounts in thousands) Segment adjusted EBITDA Sealing systems $ 40,345$ 35,035$ 5,310 $ (7,777)$ (61)$ 13,148 Fluid handling systems 26,99716,28210,715 (7,689)7,30011,104* Net of customer price adjustments, including recoveries. ** Net of savings from 2024 restructuring initiatives. Additional detail on our quarterly segment variance analyses is available in our periodic filings with the Securities and Exchange Commission. Cash and Liquidity As of June 30, 2025, Cooper Standard had cash and cash equivalents totaling $121.6 million. Total liquidity, including availability under the Company's amended senior asset-based revolving credit facility, was $272.8 million at the end of the second quarter of 2025. Based on current expectations for light vehicle production and customer demand for our products, the Company believes it has sufficient financial resources to support ongoing operations and the execution of planned strategic initiatives for the foreseeable future. These financial resources include current cash on hand, continuing access to flexible credit facilities, and expected future positive cash generation. Outlook Our industry and, indeed, the global economy is facing unprecedented uncertainty due to changing trade and tariff policies being implemented or considered by the governments of the United States and other nations. Despite this trade-related uncertainty, the Company believes that the underlying demand for new light vehicle production in its key operating regions remains strong, supported by the age of the existing fleet, increasing population, increasing numbers of newly licensed drivers, and declining vehicle inventories. The Company believes it is well-positioned to manage through tariffs that may be imposed on the products it ships across borders, primarily in North America, but acknowledges that overall light vehicle production volumes may be impacted by changing trade policies. While the uncertainty related to trade and tariff policies make forecasting difficult in the near term, the Company remains confident that the continuing successful execution of its plans and strategies will drive increasing profit margins and returns on invested capital over time as markets stabilize. Based on our actual results in the first half of the year and our expectations that continuing operational excellence will offset the impact of potential lower light vehicle production volumes in the second half, the Company has adjusted its full year guidance as follows:Initial 2025 Guidance1 Current 2025 Guidance1 Sales $2.7 - $2.8 billion $2.7 - $2.8 billion Adjusted EBITDA2 $200 - $235 million $220 - $250 million Capital Expenditures $45 - $55 million $45 - $55 million Cash Restructuring $20 - $25 million $20 - $25 million Net Cash Interest $105 - $115 million $105 - $115 million Net Cash Taxes $30 - $35 million $25 - $30 million Key Light Vehicle Productions Assumptions(Units) North America 15.1 million 14.9 million Europe 16.6 million 16.7 million Greater China 30.2 million 31.2 million South America 3.1 million 3.2 million 1 Guidance is representative of management's estimates and expectations as of the date it is published. Initial guidance was first presented in our earnings press release published on February 13, 2025. Current guidance as presented in this press release considers July 2025 S&P Global production forecasts for relevant light vehicle platforms and models, customers' planned production schedules and other internal assumptions. 2 Adjusted EBITDA is a non-GAAP financial measure. The Company has not provided a reconciliation of projected adjusted EBITDA to projected net income (loss) because full-year net income (loss) will include special items that have not yet occurred and are difficult to predict with reasonable certainty prior to year-end. Due to this uncertainty, the Company cannot reconcile projected adjusted EBITDA to U.S. GAAP net income (loss) without unreasonable effort. Conference Call Details Cooper Standard management will host a conference call and webcast on August 1, 2025 at 9 a.m. ET to discuss its second quarter 2025 results, provide a general business update and respond to investor questions. Investors and other interested parties may listen to the call by accessing the online, real-time webcast at To participate by phone, callers in the United States and Canada can dial toll-free at 800-836-8184 (international callers dial 646-357-8785) and ask to be connected to the Cooper Standard conference call. Representatives of the investment community will have the opportunity to ask questions during Q&A. Participants should dial-in at least five minutes prior to the start of the call. A replay of the webcast will be available on the investors' portion of the Cooper Standard website ( shortly after the live event. About Cooper Standard Cooper Standard, headquartered in Northville, Mich., with locations in 20 countries, is a leading global supplier of sealing and fluid handling systems and components. Utilizing our materials science and manufacturing expertise, we create innovative and sustainable engineered solutions for diverse transportation and industrial markets. Cooper Standard's approximately 22,000 team members (including contingent workers) are at the heart of our success, continuously improving our business and surrounding communities. Learn more at or follow us on LinkedIn, X, Facebook, Instagram or YouTube. Forward Looking Statements This press release includes "forward-looking statements" within the meaning of U.S. federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Our use of words "estimate," "expect," "anticipate," "project," "plan," "intend," "believe," "outlook," "guidance," "forecast," or future or conditional verbs, such as "will," "should," "could," "would," or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, we cannot assure you that these expectations, beliefs and projections will be achieved. Forward-looking statements are not guarantees of future performance and are subject to significant risks and uncertainties that may cause actual results or achievements to be materially different from the future results or achievements expressed or implied by the forward-looking statements. Among other items, such factors may include: volatility or decline of the Company's stock price, or absence of stock price appreciation; impacts and disruptions related to the wars in Ukraine and the Middle East; our ability to achieve commercial recoveries and to offset the adverse impact of higher commodity and other costs through pricing and other negotiations with our customers; work stoppages or other labor disruptions with our employees or our customers' employees; prolonged or material contractions in automotive sales and production volumes; our inability to realize sales represented by awarded business; escalating pricing pressures; loss of large customers or significant platforms; our ability to successfully compete in the automotive parts industry; availability and increasing volatility in costs of manufactured components and raw materials; disruption in our supply base; competitive threats and commercial risks associated with our diversification strategy; possible variability of our working capital requirements; risks associated with our international operations, including changes in laws, regulations, and policies governing the terms of foreign trade such as increased trade restrictions and tariffs; foreign currency exchange rate fluctuations; our ability to control the operations of our joint ventures for our sole benefit; our substantial amount of indebtedness and rates of interest; our ability to obtain adequate financing sources in the future; operating and financial restrictions imposed on us under our debt instruments; the underfunding of our pension plans; significant changes in discount rates and the actual return on pension assets; effectiveness of continuous improvement programs and other cost savings plans; significant costs related to manufacturing facility closings or consolidation; our ability to execute new program launches; our ability to meet customers' needs for new and improved products; the possibility that our acquisitions and divestitures may not be successful; product liability, warranty and recall claims brought against us; laws and regulations, including environmental, health and safety laws and regulations; legal and regulatory proceedings, claims or investigations against us; the potential impact of any future public health events on our financial condition and results of operations; the ability of our intellectual property to withstand legal challenges; cyber-attacks, data privacy concerns, other disruptions in, or the inability to implement upgrades to, our information technology systems; the possible volatility of our annual effective tax rate; the possibility of a failure to maintain effective controls and procedures; the possibility of future impairment charges to our goodwill and long-lived assets; our ability to identify, attract, develop and retain a skilled, engaged and diverse workforce; our ability to procure insurance at reasonable rates; and our dependence on our subsidiaries for cash to satisfy our obligations.; and other risks and uncertainties, including those detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements. Our forward-looking statements speak only as of the date of this press release and we undertake no obligation to publicly update or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except where we are expressly required to do so by law. This press release also contains estimates and other information that is based on industry publications, surveys and forecasts. This information involves a number of assumptions and limitations, and we have not independently verified the accuracy or completeness of the information. Contact for Analysts: Contact for Media: Roger Hendriksen Chris Andrews Cooper Standard Cooper Standard (248) 596-6465 (248) 596-6217 candrews@ Financial statements and related notes follow: COOPER-STANDARD HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Dollar amounts in thousands except per share and share amounts) Three Months Ended June 30,Six Months Ended June 30,2025202420252024 Sales $ 705,973$ 708,362$ 1,373,042$ 1,384,787 Cost of products sold 612,922625,4221,202,8131,240,204 Gross profit 93,05182,940170,229144,583 Selling, administration & engineering expenses 51,21052,408102,401107,774 Amortization of intangibles 1,7101,6053,3223,266 Restructuring charges 2,85217,7814,96318,914 Operating income 37,27911,14659,54314,629 Interest expense, net of interest income (28,712)(28,635)(57,331)(57,916) Equity in earnings of affiliates 1,7081,3023,4843,572 Pension settlement charge —(46,787)—(46,787) Other (expense) income, net (3,667)(5,129)5,217(8,778) Income (loss) before income taxes 6,608(68,103)10,913(95,280) Income tax expense 8,0818,08010,78412,211 Net (loss) income (1,473)(76,183)129(107,491) Net loss (income) attributable to noncontrollinginterests 72(60)22(412) Net (loss) income attributable to Cooper-StandardHoldings Inc. $ (1,401)$ (76,243)$ 151$ (107,903) Weighted average shares outstanding:Basic 17,882,36117,564,01517,797,93317,513,076 Diluted 17,882,36117,564,01518,058,00817,513,076 (Loss) income per share:Basic $ (0.08)$ (4.34)$ 0.01$ (6.16) Diluted $ (0.08)$ (4.34)$ 0.01$ (6.16) COOPER-STANDARD HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Dollar amounts in thousands except share amounts)June 30, 2025December 31, 2024 (unaudited) AssetsCurrent assets:Cash and cash equivalents $ 121,620$ 170,035 Accounts receivable, net 371,256310,738 Tooling receivable, net 75,38769,204 Inventories 181,318142,401 Prepaid expenses 26,18625,833 Value added tax receivable 56,70145,120 Other current assets 52,92241,925 Total current assets 885,390805,256 Property, plant and equipment, net 534,247539,201 Operating lease right-of-use assets, net 87,04587,292 Goodwill 140,729140,443 Intangible assets, net 31,78333,805 Other assets 140,517127,068 Total assets $ 1,819,711$ 1,733,065 Liabilities and EquityCurrent liabilities:Debt payable within one year $ 41,789$ 42,428 Accounts payable 356,751295,178 Payroll liabilities 101,668103,701 Accrued interest 5,0975,115 Accrued liabilities 109,097111,502 Current operating lease liabilities 19,49218,859 Total current liabilities 633,894576,783 Long-term debt 1,059,4541,057,839 Pension benefits 100,12089,253 Postretirement benefits other than pensions 26,67426,336 Long-term operating lease liabilities 71,17771,907 Other liabilities 33,77444,317 Total liabilities 1,925,0931,866,435 Equity:Common stock, $0.001 par value, 190,000,000 shares authorized;19,699,222 shares issued and 17,633,413 shares outstanding as of June 30,2025, and 19,392,340 shares issued and 17,326,531 shares outstanding asof December 31, 2024 1717 Additional paid-in capital 519,562518,208 Retained deficit (470,411)(470,562) Accumulated other comprehensive loss (146,784)(173,432) Total Cooper-Standard Holdings Inc. equity (97,616)(125,769) Noncontrolling interests (7,766)(7,601) Total equity (105,382)(133,370) Total liabilities and equity $ 1,819,711$ 1,733,065 COOPER-STANDARD HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Dollar amounts in thousands) Six Months Ended June 30,20252024 Operating activities:Net income (loss) $ 129$ (107,491) Adjustments to reconcile net income (loss) to net cash used in operating activities: Depreciation 45,02749,070 Amortization of intangibles 3,3223,266 Pension settlement charge —46,787 Share-based compensation expense 5,4814,862 Equity in earnings of affiliates, net of dividends related to earnings (1,515)(1,995) Payment-in-kind interest —12,367 Deferred income taxes 2,496915 Other 2,4482,601 Changes in operating assets and liabilities (87,819)(36,594) Net cash used in operating activities (30,431)(26,212) Investing activities:Capital expenditures (25,315)(28,077) Proceeds from sale of businesses 2,558— Other —242 Net cash used in investing activities (22,757)(27,835) Financing activities:Principal payments on long-term debt (1,412)(1,255) Decrease in short-term debt, net (1,259)(264) Debt issuance costs and other fees —(1,403) Taxes withheld and paid on employees' share-based payment awards (1,686)(571) Net cash used in financing activities (4,357)(3,493) Effects of exchange rate changes on cash, cash equivalents and restricted cash 6,419(4,580) Changes in cash, cash equivalents and restricted cash (51,126)(62,120) Cash, cash equivalents and restricted cash at beginning of period 178,697163,061 Cash, cash equivalents and restricted cash at end of period $ 127,571$ 100,941 Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:Balance as ofJune 30, 2025December 31, 2024 Cash and cash equivalents $ 121,620$ 170,035 Restricted cash included in other current assets 3,8437,590 Restricted cash included in other assets 2,1081,072 Total cash, cash equivalents and restricted cash $ 127,571$ 178,697 Non-GAAP Financial Measures EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share and free cash flow are measures not recognized under U.S. GAAP and which exclude certain non-cash and special items that may obscure trends and operating performance not indicative of the Company's core financial activities. Net new business is a measure not recognized under U.S. GAAP which is a representation of potential incremental future revenue but which may not fully reflect all external impacts to future revenue. Management considers EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share, free cash flow and net new business to be key indicators of the Company's operating performance and believes that these and similar measures are widely used by investors, securities analysts and other interested parties in evaluating the Company's performance. In addition, similar measures are utilized in the calculation of the financial covenants and ratios contained in the Company's financing arrangements and management uses these measures for developing internal budgets and forecasting purposes. EBITDA is defined as net income (loss) adjusted to reflect income tax expense (benefit), interest expense net of interest income, depreciation and amortization, and adjusted EBITDA is defined as EBITDA further adjusted to reflect certain items that management does not consider to be reflective of the Company's core operating performance. Adjusted net income (loss) is defined as net income (loss) adjusted to reflect certain items that management does not consider to be reflective of the Company's core operating performance. Adjusted EBITDA margin is defined as adjusted EBITDA as a percentage of sales. Adjusted basic and diluted earnings (loss) per share is defined as adjusted net income (loss) divided by the weighted average number of basic and diluted shares, respectively, outstanding during the period. Free cash flow is defined as net cash provided by operating activities minus capital expenditures and is useful to both management and investors in evaluating the Company's ability to service and repay its debt. Net new business reflects anticipated sales from formally awarded programs, less lost business, discontinued programs and replacement programs and is based on S&P Global (IHS Markit) forecast production volumes. The calculation of "net new business" does not reflect customer price reductions on existing programs and may be impacted by various assumptions embedded in the respective calculation, including actual vehicle production levels on new programs, foreign exchange rates and the timing of major program launches. When analyzing the Company's operating performance, investors should use EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share, free cash flow and net new business as supplements to, and not as alternatives for, net income (loss), operating income, or any other performance measure derived in accordance with U.S. GAAP, and not as an alternative to cash flow from operating activities as a measure of the Company's liquidity. EBITDA, adjusted EBITDA, adjusted net income (loss), adjusted earnings (loss) per share, free cash flow and net new business have limitations as analytical tools and should not be considered in isolation or as substitutes for analysis of the Company's results of operations as reported under U.S. GAAP. Other companies may report EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share, free cash flow and net new business differently and therefore the Company's results may not be comparable to other similarly titled measures of other companies. In addition, in evaluating adjusted EBITDA and adjusted net income (loss), it should be noted that in the future the Company may incur expenses similar to or in excess of the adjustments in the below presentation. This presentation of adjusted EBITDA and adjusted net income (loss) should not be construed as an inference that the Company's future results will be unaffected by special items. Reconciliations of EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss) and free cash flow follow. Reconciliation of Non-GAAP Financial Measures EBITDA and Adjusted EBITDA (Unaudited) (Dollar amounts in thousands)The following table provides a reconciliation of EBITDA and adjusted EBITDA from net (loss) income:Three Months Ended June 30,Six Months Ended June 30,2025202420252024 Net (loss) income attributable to Cooper-StandardHoldings Inc. $ (1,401)$ (76,243)$ 151$ (107,903) Income tax expense 8,0818,08010,78412,211 Interest expense, net of interest income 28,71228,63557,33157,916 Depreciation and amortization 24,52125,87348,34952,336 EBITDA $ 59,913$ (13,655)$ 116,615$ 14,560 Restructuring charges 2,85217,7814,96318,914 Gain on sale of businesses, net (1) ——(98)— Pension settlement charge (2) —46,787—46,787 Adjusted EBITDA $ 62,765$ 50,913$ 121,480$ 80,261 Sales $ 705,973$ 708,362$ 1,373,042$ 1,384,787 Net (loss) income margin (0.2) %(10.8) %— %(7.8) % Adjusted EBITDA margin 8.9 %7.2 %8.8 %5.8 % (1) Gain on sale of businesses related to divestiture in 2024. (2) One-time, non-cash pension settlement charge and administrative fees incurred related to the termination of our U.S. Pension Plan in 2024. Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Share (Unaudited) (Dollar amounts in thousands except per share and share amounts)The following table provides a reconciliation of net (loss) income to adjusted net income (loss) and the respective (loss) income per share amounts:Three Months Ended June 30,Six Months Ended June 30,2025202420252024 Net (loss) income attributable to Cooper-StandardHoldings Inc. $ (1,401)$ (76,243)$ 151$ (107,903) Restructuring charges 2,85217,7814,96318,914 Gain on sale of businesses, net (1) ——(98)— Pension settlement charge (2) —46,787—46,787 Tax impact of adjusting items (3) (428)398(539)323 Adjusted net income (loss) $ 1,023$ (11,277)$ 4,477$ (41,879) Weighted average shares outstanding:Basic 17,882,36117,564,01517,797,93317,513,076 Diluted 17,882,36117,564,01518,058,00817,513,076 (Loss) income per share:Basic $ (0.08)$ (4.34)$ 0.01$ (6.16) Diluted $ (0.08)$ (4.34)$ 0.01$ (6.16) Adjusted income (loss) per share:Basic $ 0.06$ (0.64)$ 0.25$ (2.39) Diluted $ 0.06$ (0.64)$ 0.25$ (2.39) (1) Gain on sale of businesses related to divestiture in 2024. (2) One-time, non-cash pension settlement charge and administrative fees incurred related to the termination of our U.S. Pension Plan in 2024. (3) Represents the elimination of the income tax impact of the above adjustments by calculating the income tax impact of these adjusting items using the appropriate tax rate for the jurisdiction where the charges were incurred and other discrete tax expense. Free Cash Flow (Unaudited) (Dollar amounts in thousands)The following table defines free cash flow:Three Months Ended June 30,Six Months Ended June 30,2025202420252024 Net cash used in operating activities $ (15,580)$ (12,013)$ (30,431)$ (26,212) Capital expenditures (7,772)(11,243)(25,315)(28,077) Free cash flow $ (23,352)$ (23,256)$ (55,746)$ (54,289) View original content to download multimedia: SOURCE Cooper Standard
Yahoo
5 hours ago
- Yahoo
Akeso Announces Completion of First Dosing in Phase III Clinical Trial of Ivonescimab (PD-1/VEGF) Combination Therapy for Immunotherapy-Resistant NSCLC
HONG KONG, July 30, 2025 /PRNewswire/ -- Akeso, Inc. ( ("Akeso" or the "Company") announced that the first patient has been dosed in its pivotal Phase III clinical study (AK112-305/HARMONi-8A) of ivonescimab (PD-1/VEGF bispecific antibody) in combination with docetaxel for the treatment of locally advanced or metastatic non-small cell lung cancer (NSCLC) that has progressed following PD-1/L1 inhibitors and platinum-based chemotherapy. Ivonescimab is the only bispecific immunotherapy antibody currently undergoing Phase III registration trials for IO-resistant lung cancer. In recent years, immunotherapy has achieved significant progress in the treatment of NSCLC. PD-1/L1 inhibitors, whether used as monotherapy or in combination with platinum-based chemotherapy, have become the standard first-line treatment for advanced NSCLC in patients without driver mutations. However, despite these advances, 60%-70% of patients experience disease progression within the first year of treatment. Currently, there are no approved standard treatment options for IO-resistant NSCLC. Docetaxel is recommended in both China's and international treatment guidelines for immunotherapy-resistant (IO-resistant) NSCLC. However, docetaxel's monotherapy efficacy in the IO-resistant NSCLC patients remains limited. Several Phase III clinical trials investigating IO-resistant lung cancer, including immunotherapy combination therapies studies and ADC therapy studies, have failed to demonstrate positive results. Mechanistic studies suggest that PD-1 therapy can restore the immune system's anti-tumor activity, while anti-VEGF therapy alleviates VEGF-mediated immune suppression and promotes T-cell infiltration. When combined, these two therapies may produce synergistic effects. Ivonescimab simultaneously targets both PD-1 and VEGF pathways, reversing the immune-suppressive tumor microenvironment and reactivating anti-tumor immune responses. These synergistic mechanisms provide a scientific rationale for using ivonescimab to treat IO-resistant tumors. Furthermore, the positive efficacy and safety data demonstrated in a Phase II study in this indication underscore the significant therapeutic potential of ivonescimab in this difficult to treat patient population. The ivonescimab regimen has demonstrated remarkable efficacy and excellent safety across multiple tumor types. The ongoing AK112-305/HARMONi-8A Phase III study targeting IO-resistant NSCLC is expected to offer a novel and highly effective treatment option for patients with IO-resistant NSCLC, in line Akesos ' 'Immuno-2.0' strategy. As the world's leading PD-1/VEGF bispecific antibody, ivonescimab has achieved extensive population coverage for core indications in NSCLC and is positioned across multiple lines of treatment, with the potential to reshape the overall treatment landscape for advanced NSCLC. Forward-Looking Statement of Akeso, announcement by Akeso, Inc. ( "Akeso") contains "forward-looking statements". These statements reflect the current beliefs and expectations of Akeso's management and are subject to significant risks and uncertainties. These statements are not intended to form the basis of any investment decision or any decision to purchase securities of Akeso. There can be no assurance that the drug candidate(s) indicated in this announcement or Akeso's other pipeline candidates will obtain the required regulatory approvals or achieve commercial success. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; Akeso's ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the Akeso's patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. Akeso does not undertake any obligation to publicly revise these forward-looking statements to reflect events or circumstances after the date hereof, except as required by law. About AkesoAkeso (HKEX: is a leading biopharmaceutical company committed to the research, development, manufacturing and commercialization of the world's first or best-in-class innovative biological medicines. Founded in 2012, the company has created a unique integrated R&D innovation system with the comprehensive end-to-end drug development platform (ACE Platform) and bi-specific antibody drug development technology (Tetrabody) as the core, a GMP-compliant manufacturing system and a commercialization system with an advanced operation mode, and has gradually developed into a globally competitive biopharmaceutical company focused on innovative solutions. With fully integrated multi-functional platform, Akeso is internally working on a robust pipeline of over 50 innovative assets in the fields of cancer, autoimmune disease, inflammation, metabolic disease and other major diseases. Among them, 24 candidates have entered clinical trials (including 15 bispecific/multispecific antibodies and bispecific ADCs. Additionally, 7 new drugs are commercially available, and 2 new drugs with 2 new indications are under regulatory review for approval. Through efficient and breakthrough R&D innovation, Akeso always integrates superior global resources, develops the first-in-class and best-in-class new drugs, provides affordable therapeutic antibodies for patients worldwide, and continuously creates more commercial and social values to become a global leading biopharmaceutical enterprise. For more information, please visit and follow us on Linkedin. View original content: SOURCE Akeso, Inc.
Yahoo
7 hours ago
- Yahoo
Settle (& Win!) Wildfire Home Insurance Claims
TAMPA, Fla., July 31, 2025 /PRNewswire/ -- recently published a report about home insurance claims following wildfires. They uncovered that insurers deny 52% of wildfire claims. To help homeowners avoid a claim denial following wildfires, shared eight tips to help increase the insurance settlement success. How to Settle a Wildfire Home Insurance Claim These steps are general guidelines to help homeowners follow their insurance plan's claims process. Step #1 – File Quickly Shop Top Mortgage Rates A quicker path to financial freedom Your Path to Homeownership Personalized rates in minutes Homeowners are encouraged to file a claim quickly. Homeowners should keep a record of the names of representatives they talk to and the date of the conversations. Step #2 – Document Losses Pictures of damaged items can prove that the items listed exist and are damaged. Additional information, like the date of purchase and receipts, can further prove value. Step #3 – Keep Records Keeping a record of conversations, dates, names of who homeowners talk to, and what was discussed can help prove a case that the homeowner followed the correct steps. Step #4 – Secure Property To help prevent further damage, securing property can help homeowners minimize additional losses. For example, boarding up windows and doors can prevent properties from falling prey to looters. Step #5 – Submit Claims Claims forms will need to be used to inventory losses. Homeowners should include photographs of losses as well as receipts for costs related to securing the property and living expenses. Step #6 – Meet the Adjuster When an adjuster from the insurance company comes to survey the damage, homeowners should provide a tour and explain the losses. Hiring a public adjuster can help support a homeowner's case. Step #7 – Negotiation A settlement offer is not the final offer. Homeowners who do not believe the settlement offer is fair have recourse to negotiate. Melanie Musson, a home insurance expert with offers this advice: "A home is often a person's most valuable asset, and if an insurance settlement is not fair, hiring an attorney is often in the homeowners' best interest." Step #8 – Settlement The final step in a home insurance claim following wildfires is settling the claim. The homeowner must sign all necessary paperwork when an acceptable settlement is offered before the claim can be closed. Read entire report here: How to File an Insurance Claim After a Wildfire (8 Steps to Take) View original content to download multimedia: SOURCE 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
