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Rockwell Automation to Report Third Quarter Fiscal 2025 Results

Rockwell Automation to Report Third Quarter Fiscal 2025 Results

Globe and Mail6 days ago
Rockwell Automation, Inc. (NYSE: ROK) is scheduled to report its third quarter fiscal 2025 results on Wednesday, Aug. 6, before the market opens. The release will be posted on the Rockwell Investor Relations website at www.rockwellautomation.com/en-us/investors.html.
A conference call to discuss the quarterly results will be held at 7:30 a.m. CDT on Aug. 6. This call will be audio webcast and accessible on the Rockwell Automation Investor Relations website. Presentation materials will also be available on the website prior to the call.
Interested parties can access the conference call by dialing the following numbers: (888) 330-2022 in North America; (365) 977-0051 in Canada; +1 (646) 960-0690 for other countries. Use the following passcode: 5499533. Please dial in 10 minutes prior to the start of the call.
Both the presentation materials and a replay of the call will be available on the Investor Relations section of the Rockwell website through Sept. 5.
About Rockwell Automation
Rockwell Automation, Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 27,000 problem solvers dedicated to our customers in more than 100 countries as of fiscal year end 2024. To learn more about how we are bringing the Connected Enterprise to life across industrial enterprises, visit www.rockwellautomation.com.
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FCPT Announces Second Quarter 2025 Financial and Operating Results
FCPT Announces Second Quarter 2025 Financial and Operating Results

Globe and Mail

timean hour ago

  • Globe and Mail

FCPT Announces Second Quarter 2025 Financial and Operating Results

Four Corners Property Trust, Inc. ('FCPT' or the 'Company', NYSE: FCPT) today announced financial results for the three and six months ended June 30, 2025. Management Comments 'FCPT continued strong momentum into the second quarter. We acquired over $84 million of properties while keeping steadfast to our strategy of nationally branded, strong brands with sensible rent levels at attractive pricing. We acquired over $344 million of properties over the past 12 months, one of our highest consecutive four quarter periods,' said CEO Bill Lenehan. 'We are entering Q3 with significant liquidity and a low leverage profile that positions us to fuel further growth in the second half of the year as opportunities present themselves.' Rent Collection Update As of June 30, 2025, the Company has received rent payments representing 99.8% of its portfolio contractual base rent for the quarter ending June 30, 2025. Financial Results Rental Revenue and Net Income Attributable to Common Shareholders Rental revenue for the second quarter increased 10.7% over the prior year to $64.8 million. Rental revenue consisted of $64.5 million in cash rents and $0.4 million of straight-line and other non-cash rent adjustments. Net income attributable to common shareholders was $27.9 million for the second quarter, or $0.28 per diluted share. These results compare to net income attributable to common shareholders of $24.7 million for the same quarter in the prior year, or $0.27 per diluted share. Net income attributable to common shareholders was $54.1 million for the six months ended June 30, 2025, or $0.54 per diluted share. These results compare to net income attributed to common shareholders of $48.7 million for the same six-month period in 2024, or $0.53 per diluted share. Funds from Operations (FFO) NAREIT-defined FFO per diluted share for the second quarter was $0.42, a $0.01 per share increase compared to the same quarter in 2024. NAREIT-defined FFO per diluted share for the six months ended June 30, 2025 was $0.82, representing flat per share results compared to the same six-month period in 2024. Adjusted Funds from Operations (AFFO) AFFO per diluted share for the second quarter was $0.44, representing a $0.01 per share increase compared to the same quarter in 2024. AFFO per diluted share for the six months ended June 30, 2025 was $0.88, representing a $0.02 per share increase compared to the same six-month period in 2024. General and Administrative (G&A) Expense G&A expense for the second quarter was $6.4 million, which included $2.0 million of stock-based compensation. These results compare to G&A expense in the second quarter of 2024 of $6.0 million, including $1.7 million of stock-based compensation. Cash G&A expense (after excluding stock-based compensation) for the second quarter was $4.4 million, representing 6.9% of cash rental income for the quarter, compared to $4.3 million of cash G&A in the second quarter of 2024 representing 7.4% of cash rental income. Dividends FCPT declared a dividend of $0.3550 per common share for the second quarter of 2025. Real Estate Portfolio As of June 30, 2025, the Company's rental portfolio consisted of 1,245 properties located in 48 states. The properties are 99.4% occupied (measured by square feet) under long-term, net leases with a weighted average remaining lease term of approximately 7.2 years. Acquisitions During the second quarter, FCPT acquired 24 properties for a combined purchase price of $84.4 million at an initial weighted average cash yield of 6.7%, on rents in place as of June 30, 2025 and a weighted average remaining lease term of 13.4 years. The properties were 4% quick service restaurants, 28% casual dining and 68% auto service by purchase price. Dispositions During the second quarter, FCPT did not sell any properties. Liquidity and Capital Markets Liquidity On June 30, 2025, FCPT had approximately $562 million of available liquidity including $6 million of cash and cash equivalents, anticipated net proceeds of approximately $206 million under existing forward sale agreements and $350 million of capacity under revolving credit facility. Capital Raising During the second quarter, the Company sold 841,556 shares of Common Stock via the at-the-market (ATM) program at an average gross price of $28.08 per share for anticipated gross proceeds of $23.6 million. Year-to-date through July 29, 2025, FCPT has sold 6,108,008 shares of Common Stock via the ATM at an average gross price of $28.27 per share for anticipated gross proceeds of $172.7 million. As of July 29, 2025, 5,163,790 shares remain to be settled under existing forward sale agreements for anticipated gross proceeds of $146.1 million. Credit Facility and Unsecured Notes On June 30, 2025, FCPT had $1,215 million of outstanding debt, consisting of $590 million of term loans and $625 million of unsecured fixed rate notes and no outstanding revolver balance. FCPT's leverage, as measured by the ratio of net debt to adjusted EBITDA re, is 5.4x at quarter-end, or 4.5x inclusive of outstanding equity under forward sales agreements as of June 30, 2025. Conference Call Information Company management will host a conference call and audio webcast on Wednesday, July 30 at 12:00 p.m. Eastern Time to discuss the results. Interested parties can listen to the call via the following: Phone: 1 833 470 1428 (domestic) or 1 404 975 4839 (international), Call Access Code: 528163 Live webcast: In order to pre-register for the call, investors can visit Replay: Available through October 28, 2025 by dialing 1 855 904 1706 (domestic) or 1 470 264 4332 (international), Replay Access Code 350427 About FCPT FCPT is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding the Company's intent, belief or expectations, including, but not limited to, statements regarding: operating and financial performance, announced transactions, expectations regarding the making of distributions and the payment of dividends, and the effect of pandemics on the business operations of the Company and the Company's tenants and their continued ability to pay rent in a timely manner or at all. Words such as 'anticipate(s),' 'expect(s),' 'intend(s),' 'plan(s),' 'believe(s),' 'may,' 'will,' 'would,' 'could,' 'should,' 'seek(s)' and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made and, except in the normal course of the Company's public disclosure obligations, the Company expressly disclaims any obligation to publicly release any updates or revisions to any forward-looking statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements are based on management's current expectations and beliefs and the Company can give no assurance that its expectations or the events described will occur as described. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements. For a further discussion of these and other factors that could cause the company's future results to differ materially from any forward-looking statements, see the section entitled 'Risk Factors' in the company's most recent annual report on Form 10-K, and other risks described in documents subsequently filed by the company from time to time with the Securities and Exchange Commission. Notice Regarding Non-GAAP Financial Measures: In addition to U.S. GAAP financial measures, this press release and the referenced supplemental financial and operating report contain and may refer to certain non-GAAP financial measures. These non-GAAP financial measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. These non-GAAP financial measures should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures and statements of why management believes these measures are useful to investors are included in the supplemental financial and operating report, which can be found in the investor relations section of our website. Supplemental Materials and Website: Supplemental materials on the Second Quarter 2025 operating results and other information on the Company are available on the investors relations section of FCPT's website at Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenues: Rental revenue $ 64,814 $ 58,539 $ 128,296 $ 117,112 Restaurant revenue 8,028 7,940 16,022 15,834 Total revenues 72,842 66,479 144,318 132,946 Operating expenses: General and administrative 6,440 6,004 14,079 12,217 Depreciation and amortization 14,620 13,345 29,049 26,812 Property expenses 3,386 2,836 6,651 5,917 Restaurant expenses 7,361 7,332 14,916 14,896 Total operating expenses 31,807 29,517 64,695 59,842 Interest expense (13,081 ) (12,324 ) (25,812 ) (24,605 ) Other income, net 113 150 505 390 Realized gain on sale, net - - - - Income tax expense (112 ) (86 ) (175 ) (113 ) Net income 27,955 24,702 54,141 48,776 Net income attributable to noncontrolling interest (31 ) (30 ) (61 ) (60 ) Net Income Attributable to Common Shareholders $ 27,924 $ 24,672 $ 54,080 $ 48,716 Basic net income per share $ 0.28 $ 0.27 $ 0.54 $ 0.53 Diluted net income per share $ 0.28 $ 0.27 $ 0.54 $ 0.53 Regular dividends declared per share $ 0.3550 $ 0.3450 $ 1.3900 $ 0.6900 Weighted-average shares outstanding: Basic 100,820,074 91,807,764 100,267,510 91,763,619 Four Corners Property Trust Consolidated Balance Sheets (In thousands, except share data) June 30, 2025 December 31, 2024 ASSETS (Unaudited) Real estate investments: Land $ 1,431,211 $ 1,360,772 Buildings, equipment and improvements 1,902,906 1,837,872 Total real estate investments 3,334,117 3,198,644 Less: Accumulated depreciation (795,262 ) (775,505 ) Total real estate investments, net 2,538,855 2,423,139 Intangible lease assets, net 122,249 123,613 Total real estate investments and intangible lease assets, net 2,661,104 2,546,752 Cash and cash equivalents 5,981 4,081 Straight-line rent adjustment 70,125 68,562 Derivative assets 11,838 20,733 Deferred tax assets 1,517 1,448 Other assets 14,952 11,450 Total Assets $ 2,765,517 $ 2,653,026 LIABILITIES AND EQUITY Liabilities: Term loan and revolving credit facility ($590,000 and $520,000 of principal, respectively) $ 580,780 $ 516,250 Senior unsecured notes 621,965 621,639 Dividends payable 36,210 35,358 Rent received in advance 15,581 6,738 Derivative liabilities 5,404 473 22,635 21,778 Total liabilities 1,282,575 1,202,236 Equity: Preferred stock, $0.0001 par value per share, 25,000,000 shares authorized, zero shares issued and outstanding - - Common stock, $0.0001 par value per share, 500,000,000 shares authorized, 102,230,784 and 99,825,119 shares issued and outstanding, respectively 10 10 Additional paid-in capital 1,546,272 1,482,698 Accumulated other comprehensive income 9,786 23,633 Noncontrolling interest 2,142 2,178 Accumulated deficit (75,268 ) (57,729 ) Total equity 1,482,942 1,450,790 Total Liabilities and Equity $ 2,765,517 $ 2,653,026 Four Corners Property Trust FFO and AFFO (Unaudited) (In thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Funds from operations (FFO): Net income $ 27,955 $ 24,702 $ 54,141 $ 48,776 Depreciation and amortization 14,582 13,309 28,974 26,740 Realized gain on sales of real estate - - - - FFO (as defined by NAREIT) $ 42,537 $ 38,011 $ 83,115 $ 75,516 Straight-line rental revenue (837 ) (1,113 ) (1,563 ) (2,287 ) Deferred income tax benefit (1) (14 ) (20 ) (69 ) (92 ) Stock-based compensation 2,001 1,731 4,761 3,371 Non-cash amortization of deferred financing costs 786 653 1,568 1,291 Non-real estate investment depreciation 38 36 75 72 Other non-cash revenue adjustments 478 497 964 1,052 Adjusted Funds from Operations (AFFO) $ 44,989 $ 39,795 $ 88,851 $ 78,923 Weighted average fully diluted shares outstanding (2) 101,282,790 92,108,621 100,745,776 92,090,841

Spotify Stock Drops 12.2%: Here's What You Need to Know
Spotify Stock Drops 12.2%: Here's What You Need to Know

Globe and Mail

timean hour ago

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Spotify Stock Drops 12.2%: Here's What You Need to Know

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Lithium Americas Publishes 2024 ESG-S Report
Lithium Americas Publishes 2024 ESG-S Report

National Post

timean hour ago

  • National Post

Lithium Americas Publishes 2024 ESG-S Report

Article content VANCOUVER, British Columbia — Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (' Lithium Americas ' or the ' Company ') has published its annual environmental, social, governance and safety ('ESG-S ') report (' Report ') for the period January 1 to December 31, 2024. The Report provides an overview of the Company's performance in key areas, including health and safety, environmental responsibility, community and stakeholder engagement, corporate governance and safeguarding our people, assets and communities as we execute on building Thacker Pass. Article content 'This Report outlines our 2024 ESG-S performance during initial ramp-up of construction at Thacker Pass,' said Jonathan Evans, President and CEO. 'We are advancing Thacker Pass, strengthening U.S. national security and creating economic benefits for American workers, companies and communities. Construction of Phase 1 of Thacker Pass is expected to create approximately 2,000 new jobs in northern Nevada, including 1,800 skilled labor contractors.' Article content Mr. Evans added, 'In 2024, we cemented partnerships that set the financing foundation to advance Thacker Pass into major construction. Throughout the year, we increased our focus on safety with additional initiatives, training and management systems, adopted additional policies and procedures to strengthen our governance and continued to build on years of continuous engagement with our local neighbors.' Article content The Report was prepared in alignment with the Global Reporting Initiative (' GRI ') Universal Standards (2021), the GRI 14: Mining Sector (2024), the Sustainability Accounting Standards Board's Metals and Mining Standards and the United Nations Sustainable Development Goals. Article content The full Report can be found on the Company's website at Other reports and filings, including the Company's 2024 Annual Report on Form 10-K, are also available at Article content Lithium Americas is developing the Thacker Pass project located in Humboldt County in northern Nevada, which hosts the largest known measured lithium resource (Measured and Indicated) and reserve (Proven and Probable) in the world. Thacker Pass is owned by a joint venture between Lithium Americas (holding a 62% interest and is the manager of the Project), and General Motors Holdings LLC (holding a 38% interest). The Company is focused on advancing Phase 1 of Thacker Pass toward production, targeting nominal design capacity of 40,000 tonnes per year of battery-quality lithium carbonate. 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All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as 'anticipate,' 'plan,' 'continues,' 'estimate,' 'expect,' 'may,' 'will,' 'projects,' 'predict,' 'proposes,' 'potential,' 'target,' 'implement,' 'scheduled,' 'forecast,' 'intend,' 'would,' 'could,' 'might,' 'should,' 'believe' and similar terminology. FLI in this news release includes, but is not limited to, statements related to Thacker Pass, including mineral resource and mineral reserve estimates, the design capacity thereof, the Company's focus on advancing Phase 1 toward production, expected job creation and the other anticipated benefits of Thacker Pass for U.S. national security, workers, companies and communities. Article content FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. 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Assumptions upon which such FLI is based include, without limitation: relationships between the Company and third party strategic and contractual partners; development, construction and operations at Thacker Pass proceeding as anticipated; the Company's ability to operate in a safe and effective manner; the Company's financial resources and future prospects; general business and economic conditions; settlement of agreements related to the operation and sale of mineral production and the operations and inputs required in the course of production; the benefits and impacts of Thacker Pass; unforeseen technological, engineering and operational problems; accuracy of development budgets and construction estimates; uncertainties inherent to feasibility studies and mineral resource and mineral reserve estimates; reliability of technical data; the receipt and maintenance of mining, exploration, environmental and other permits or approvals; government regulation and policy and changes thereto, including in respect of the mining industry, the green energy transition, the electric vehicle market, royalty rates and tax rates; demand for lithium; competition in the lithium business, and the Company's competitive position in the industry; changes to costs of production; support of key stakeholders; availability of technology, including low carbon energy sources and water rights, on acceptable terms; the impact of unknown financial contingencies, including litigation costs, title disputes or claims, environmental compliance costs and costs associated with the impacts of climate change or severe weather conditions; estimates regarding commodity prices, currency exchange rates, interest rates, inflation rates and competitive conditions. Readers are cautioned that the foregoing list of risks, assumptions and other factors is not exhaustive. Although the Company believes that the assumptions and expectations reflected in such FLI are reasonable, the Company can give no assurance that these assumptions and expectations will prove to be correct. As such, readers are cautioned not to place undue reliance on this information. Article content The FLI contained in this news release is expressly qualified by these cautionary statements. All FLI in this news release speaks as of the date hereof. The Company does not undertake any obligation to update or revise any FLI, whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is contained in the Company's filings with securities regulators, including the Company's most recent Annual Report on Form 20-F and most recent management's discussion and analysis for our most recently completed financial year and the most recent interim financial period, which are available on SEDAR+ at and on EDGAR at Article content Article content Article content Contacts Article content Article content Article content

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