Latest news with #Form8-K
Business Wire
5 hours ago
- Business
- Business Wire
Northern Trust Corporation Reports Second Quarter 2025 Financial Results
CHICAGO--(BUSINESS WIRE)--Northern Trust Corporation has released its second quarter 2025 financial results. Results can be found at as well as on the corporation's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (SEC) on July 23, 2025, which is available on the SEC's website at Webcast of Second Quarter Earnings Conference Call Northern Trust's second quarter earnings conference call will be webcast on July 23, 2025. The live call will be conducted at 8:00 a.m. CT and is accessible on Northern Trust's website at the address noted above. A recording of the live call will be available on Northern Trust's website following the live event, for approximately four weeks. Participants will need Windows Media or Adobe Flash software. About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2025, Northern Trust had assets under custody/administration of US$18.1 trillion, and assets under management of US$1.7 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn. Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at
Business Wire
6 hours ago
- Business
- Business Wire
Moody's Corporation Reports Results for Second Quarter 2025
NEW YORK--(BUSINESS WIRE)--Moody's Corporation (NYSE: MCO) today announced results for the second quarter 2025 and updated select metrics within its outlook for full year 2025. The Second Quarter 2025 Earnings Release and other earnings materials can be found on the Moody's IR website at In addition, the Earnings Release will be furnished with the Securities and Exchange Commission (SEC) on a Form 8-K and will be available on the SEC website at 'This past quarter, Moody's provided the insights and expertise that helped markets make sense of a complex and rapidly changing global landscape,' said Rob Fauber, President and Chief Executive Officer of Moody's. 'We continue to innovate and invest in our business as we capitalize on the deep currents that are driving demand for our solutions, and we are strengthening the earnings engine of the company by delivering strong recurring revenue growth combined with real cost discipline.' Teleconference Details: For further information, please contact Investor Relations at ir@ ABOUT Moody's In a world shaped by increasingly interconnected risks, Moody's (NYSE:MCO) data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities. With a rich history of experience in global markets and a diverse workforce of approximately 16,000 across more than 40 countries, Moody's gives customers the comprehensive perspective needed to act with confidence and thrive.
Business Wire
2 days ago
- Automotive
- Business Wire
Asbury Automotive Group Completes Acquisition of Herb Chambers Dealerships
DULUTH, Ga.--(BUSINESS WIRE)--Asbury Automotive Group, Inc. (NYSE: ABG) (the 'Company'), one of the largest automotive retail and service companies in the U.S., has completed the acquisition of The Herb Chambers Companies (HCC), the sixteenth largest by revenue privately-owned dealership group in the country. 'We're thrilled to complete the acquisition of The Herb Chambers Companies' assets and operations,' said David Hult, Asbury's President & CEO. 'Herb redefined the car-buying experience in New England, making 'Herb Chambers' a household name, synonymous with reliability and service. The HCC team is well known for its guest-centric focus and community involvement, and we are proud to welcome the team to the Asbury family.' 'Over the past decade, I have been approached by several companies interested in acquiring my organization. Throughout it all, the opportunity and well-being of the Chambers team remained my top priority. Without question, Asbury stood out as the ideal steward. Their leadership – especially under David Hult – is, without a doubt, the best in the industry,' said Herb Chambers, founder of The Herb Chambers Companies. This acquisition further diversifies Asbury's geographic mix with entry into the Northeastern United States. The purchase of this flagship New England Region company is one of the most sizable in U.S. automotive retail history, representing $3.2 billion in revenue in 2024, and includes 33 dealerships, 52 franchises, and three collision centers. The Herb Chambers Companies sold approximately 50,000 new and used vehicles during the year ended December 31, 2024. The aggregate net purchase price was $1.45 billion, which includes $750 million for goodwill, approximately $610 million for the real estate and leasehold improvements, and approximately $85 million for new vehicles, used vehicles, service loaner vehicles, fixed assets, parts and supplies, which is net of non-manufacturer floorplan of $375 million. Asbury primarily funded the acquisition with a combination of credit facility capacity, mortgage proceeds and cash. For additional information, please see the Form 8-K that will be filed in connection with this transaction. Advisors Jones Day and Hill Ward Henderson served as legal counsel, Baker Tilly served as the transaction advisory firm, and BofA Securities served as financial advisor to Asbury; Wells Fargo served as lead for the syndicated mortgage facility. Stephens Inc. served as financial advisor and Simpson Thacher and WilmerHale served as legal counsel to HCC. About The Herb Chambers Companies Founded in 1985, The Herb Chambers Companies is one of the nation's largest private auto dealership groups and one of the leading automotive retailers in the New England region. HCC employs more than 2,200 people in locations throughout Massachusetts and Rhode Island, with most of its dealerships located in and around Boston. Herb Chambers is consistently named as one of the Boston Globe's "Top Places to Work." About Asbury Automotive Group, Inc Asbury Automotive Group, Inc. (NYSE: ABG), a Fortune 500 company headquartered in Duluth, GA, is one of the largest automotive retailers in the U.S. In late 2020, Asbury embarked on a multi-year plan to increase revenue and profitability strategically through organic operations, acquisitive growth and innovative technologies, with its guest-centric approach as Asbury's constant North Star. As of June 30, 2025, Asbury operated 145 new vehicle dealerships, consisting of 189 franchises and representing 31 domestic and foreign brands of vehicles. Asbury also operates Total Care Auto, Powered by Landcar, a leading provider of service contracts and other vehicle protection products, and 37 collision repair centers. Asbury offers an extensive range of automotive products and services, including new and used vehicles; parts and service, which includes vehicle repair and maintenance services, replacement parts and collision repair services; and finance and insurance products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection debt cancellation, and prepaid maintenance. Asbury is recognized as one of America's Fastest Growing Companies 2024 by the Financial Times and the Company is listed in World's Most Trustworthy Companies 2024 by Newsweek. For additional information, visit Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact, and may include statements relating to goals, plans, objectives, beliefs, expectations and assumptions regarding the expected benefits of the recently completed acquisition of the Herb Chambers dealerships and performance, integration plans and expected synergies from the acquisition. The following are some but not all of the factors that could cause actual results or events to differ materially from those anticipated, including: risks related to our failure to realize the benefits expected from the acquisition; failure to promptly and effectively integrate the acquisition; disruption of management time from ongoing business operations due to the integration activities related to the acquisition; identification and remediation of insufficient control activities of the acquired business; the effect of the acquisition on the ability of Asbury to retain and hire key personnel and maintain relationships with suppliers; our ability to execute our business strategy; and other risks described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2025 and subsequent filings. These forward-looking statements and such risks, uncertainties and other factors speak only as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Business Wire
2 days ago
- Business
- Business Wire
Comtech Announces Amendment to Senior Secured Credit Agreement Which Improves Terms and Increases Financial Flexibility
CHANDLER, Ariz.--(BUSINESS WIRE)--July 21, 2025-- Comtech Telecommunications Corp. (NASDAQ: CMTL) ('Comtech' or the 'Company'), a global communications technology leader, today announced it has negotiated amendments to its senior secured credit agreement that significantly improve the terms in the Company's favor, increase financial flexibility and enhance liquidity to support the Company's business plans. The improved terms of the credit agreement include a long-term financial covenant holiday such that the next test of the fixed charge coverage ratio, net leverage ratio and minimum EBITDA covenants will be after the conclusion of the fiscal quarter ending on January 31, 2027. The lenders also waived prepayment fees on the current prepayment of senior debt and deferred the Company's prior obligations to make certain amortization and fee payments. Concurrently, the Company received a capital infusion of $35 million through a subordinated debt investment by an existing holder of the Company's convertible preferred stock and subordinated debt. This new subordinated debt has favorable terms for the Company: there is no make whole provision, there is no cash interest requirement and interest will generally accrue at the same rate as the cash interest paid on the Company's senior secured term loan debt. Net proceeds from the new investment are being used to prepay a portion of the senior secured debt and to increase liquidity. 'These agreements reflect the strong confidence our lenders and preferred stockholders have in the execution of Comtech's transformation plan, which is already demonstrating success. With improved financial flexibility, coupled with the return to positive cash flow we reported in the third quarter of fiscal 2025, Comtech is stronger today and well-positioned to capitalize on growing opportunities for our next-generation public safety solutions in our Terrestrial and Wireless business and mission critical communications technologies in our Satellite and Space business,' said Ken Traub, Chairman, President and Chief Executive Officer. The foregoing description of the amendment to the senior secured credit agreement and the subordinated debt agreement is not complete and is qualified in its entirety by the terms of the underlying documents, copies of which will be made available in the Company's filings with the Securities and Exchange Commission ('SEC'). Additional information can be found in the Company's Current Report on Form 8-K filed with the SEC and available on Comtech's investor relations website at About Comtech Comtech Telecommunications Corp. is a leading provider of satellite and space communications technologies; terrestrial and wireless network solutions; Next Generation 911 ('NG911') and emergency services; and cloud native capabilities to commercial and government customers around the world. Through its culture of innovation and employee empowerment, Comtech leverages its global presence and decades of technology leadership and experience to create some of the world's most innovative solutions for mission-critical communications. For more information, please visit Cautionary Note Regarding Forward-Looking Statements Certain information in this press release contains, and oral statements made by the Company's representatives from time to time may contain, forward-looking statements. Forward-looking statements can be identified by words such as: 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'future,' 'goal,' 'outlook,' 'intend,' 'likely,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'seek,' 'should,' 'strategy,' 'target,' 'will,' 'would,' and similar references to future periods. Forward-looking statements include, among others, statements regarding expectations for its strategic alternatives process, expectations for further portfolio-shaping opportunities, expectations for other operational initiatives, the intended use of proceeds from the Credit Facility and Amended Subordinated Credit Facility, expectations for completing further financing initiatives, future performance and financial condition, plans to address its ability to continue as a going concern, the plans and objectives of management and assumptions regarding such future performance, financial condition, and plans and objectives that involve certain significant known and unknown risks and uncertainties and other factors not under its control which may cause actual results, future performance and financial condition, and achievement of plans and objectives of management to be materially different from the results, performance or other expectations implied by these forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. Forward-looking information is based on information available at the time and/or the Company's good faith belief with respect to future events, and is subject to risks and uncertainties that are difficult to predict and many of which are outside of the Company's control. Factors that could cause actual results to differ materially from current expectations include, among other things: the outcome and effectiveness of the aforementioned strategic alternatives process, further portfolio-shaping opportunities, other operational initiatives, and the completion of further financing activities; its ability to access capital and liquidity so that the Company is able to continue as a going concern; its ability to implement changes in executive leadership; the possibility that the expected synergies and benefits from strategic activities will not be fully realized, or will not be realized within the anticipated time periods; the risk that acquired businesses will not be integrated successfully; impacts from, and uncertainties regarding, future actions that may be taken by activist stockholders; the possibility of disruption from acquisitions or dispositions, making it more difficult to maintain business and operational relationships or retain key personnel; the risk that the Company will be unsuccessful in implementing a tactical shift in its Satellite and Space Communications segment away from bidding on large commodity service contracts and toward pursuing contracts for niche products and solutions with higher margins; the nature and timing of receipt of, and performance on, new or existing orders that can cause significant fluctuations in net sales and operating results; the timing and funding of government contracts; adjustments to gross profits on long-term contracts; risks associated with international sales; rapid technological change; evolving industry standards; new product announcements and enhancements; changing customer demands and/or procurement strategies and ability to scale opportunities and deliver solutions to current and prospective customers; changes and uncertainty in prevailing economic and political conditions (including financial and capital market conditions), including as a result of Russia's military incursion into Ukraine, the Israel-Hamas war and attacks in the Red Sea region or any tariff, trade restriction or similar matters; changes in the price of oil in global markets; changes in prevailing interest rates and foreign currency exchange rates; risks associated with legal proceedings, customer claims for indemnification, and other similar matters; risks associated with obligations under its credit facilities; risks associated with large contracts; risks associated with supply chain disruptions; and other factors described in this and other Company filings with the Securities and Exchange Commission. However, the risks described above are not the only risks that the Company faces. Additional risks and uncertainties, not currently known to the Company or that do not currently appear to be material, may also materially adversely affect its business, financial condition and/or operating results in the future. The Company describes risks and uncertainties that could cause actual results and events to differ materially in the "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Quantitative and Qualitative Disclosures about Market Risk" sections of its SEC filings. The Company does not intend to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise, except as required by law.
Malaysian Reserve
5 days ago
- Business
- Malaysian Reserve
Comerica Reports Second Quarter 2025 Earnings Results
DALLAS, July 18, 2025 /PRNewswire/ — Comerica Incorporated (NYSE: CMA) has reported its second quarter 2025 financial results. The results are available on the Investor Relations section of Comerica's website here. In addition, the financial results and earnings presentation will be furnished on a Form 8-K filing that will be available on the Securities and Exchange Commission website at As previously announced, Comerica will host a conference call to review the second quarter 2025 financial results. Interested parties may access the call and supplemental materials through the following details: DATE: Friday, July 18, 2025 TIME: 7 a.m. CT / 8 a.m. ET PARTICIPANT DIAL-IN: (877) 484-6065 OR (201) 689-8846 WEBCAST / PRESENTATION: The live audio webcast, earnings release and earnings presentation will be available on the Investor Relations Presentations and Events page on Comerica's presentation may include forward looking statements and may discuss or disclose material business, financial or other information not contained in the conference presentation, financial results, earnings presentation, or in other prior disclosure. REPLAY INFORMATION: A replay (accessible for one year) of the call is expected to be available approximately one hour after the live webcast on the Investor Relations Presentations and Events page on Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank and Wealth Management. Comerica, one of the 25 largest commercial U.S. financial holding companies, focuses on building relationships and helping people and businesses be successful. Comerica provides banking centers across the country with locations in Arizona, California, Florida, Michigan and Texas. Founded on Aug. 17, 1849, in Detroit, Michigan, Comerica continues to expand into new regions, including its Southeast Market, based in North Carolina, and Mountain West Market in Colorado. Comerica has offices in 15 states and services 13 of the 15 largest U.S. metropolitan areas, as well as Canada and Mexico. Comerica reported total assets of $78.0 billion at June 30, 2025. Learn more about how Comerica is raising expectations of what a bank can be by visiting and follow us on Facebook, X, Instagram and LinkedIn.
