Latest news with #quarterly earnings
Reuters
6 days ago
- Business
- Reuters
India's BPCL beats quarterly profit view on lower costs, improved demand
Aug 13 (Reuters) - India's state-run refiner Bharat Petroleum Corp (BPCL) ( opens new tab reported a better-than-expected quarterly profit, helped by a dip in costs and improved fuel demand. Standalone net profit doubled to 61.24 billion rupees ($700.4 million) for the quarter ended June 30. Analysts, on average, were expecting a profit of 57.18 billion rupees, as per data compiled by LSEG. Revenue from operations rose 1.2% to 1.30 trillion rupees. Its expenses fell about 2% to 1.22 trillion rupees, with an 8.8% decline in the cost of materials consumed. For further earnings highlights KEY CONTEXT India, the world's third-largest oil importer and consumer, witnessed an uptick in fuel demand for two of the three months between April and June, with gasoline and aviation fuel leading the way. Global Brent crude oil prices dropped 9.5% in the April-June quarter on higher supply and tariff-related uncertainty. BPCL, India's third-largest oil refiner by capacity, said its average gross refining margin fell to $4.88 per barrel for the quarter ended June 30 from $7.86 per barrel a year ago. Peer Hindustan Petroleum Corp ( opens new tab posted a jump in quarterly profit, earlier this month, on lower expenses. PEER COMPARISON * The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT APRIL-JUNE STOCK PERFORMANCE -- All data from LSEG -- $1 = 87.4380 Indian rupees
Yahoo
06-08-2025
- Business
- Yahoo
BrightView Posts Third Quarter Fiscal 2025 Earnings With Record Net Income and Adjusted EBITDA, and Reaffirms Full Year Guidance
BLUE BELL, Pa., August 06, 2025--(BUSINESS WIRE)--BrightView Holdings, Inc. (NYSE: BV) (the "Company" or "BrightView"), the leading commercial landscaping services company in the United States, today reported unaudited results for the third quarter ended June 30, 2025. THIRD QUARTER FISCAL 2025 SUMMARY Net service revenues decreased 4.1% year-over-year to $708.3 million, Net income increased $8.8 million year-over-year to $32.3 million, Net income margin expansion of 140 basis points, Adjusted EBITDA2 increased 4.9% year-over-year to $113.2 million, Adjusted EBITDA margin2 expansion of 140 basis points, Year-to-date Net cash provided by operating activities of $207.4 million, an increase of $55.3 million, Year-to-date Adjusted Free Cash Flow2 of $25.8 million, a decrease of $94.4 million. COMPANY REAFFIRMS FISCAL YEAR 2025 GUIDANCE1 FY25 Guidance Total Revenue $2.68B to $2.73B Adjusted EBITDA2 $348M to $362M Adjusted EBITDA Margin2 ~130bps Adjusted Free Cash Flow2 $60M to $75M "We continue to execute on our One BrightView strategy, which is underpinned by prioritizing our employees and delivering best-in-class service to our customers," said Dale Asplund, BrightView President and Chief Executive Officer. "Our record year-to-date Adjusted EBITDA and Adjusted EBITDA margin reflect the meaningful progress of our transformation as we continue to focus on driving sustained, long-term profitable growth and shareholder value." _______________1 For assumptions underlying the fiscal year 2025 guidance, see the Q3 2025 presentation at Adjusted EBITDA, Adjusted EBITDA margin, and Adjusted Free Cash Flow are non-GAAP measures. Refer to the "Non-GAAP Financial Measures" section for more information. The Company is not providing quantitative reconciliations of its financial outlook for Adjusted EBITDA to net income, or Adjusted Free Cash Flow to Cash flows provided by operating activities, the corresponding GAAP measures, because the respective GAAP measures that are excluded from the non-GAAP financial outlook are difficult to reliably predict or estimate without unreasonable effort due to their dependence on future uncertainties, such as items discussed below. Additionally, information that is currently not available to the Company could have a potentially unpredictable & potentially significant impact on its future GAAP financial results. Fiscal 2025 Results – Total BrightView Total BrightView - Operating Highlights Three Months Ended June 30, Nine Months Ended June 30, ($ in millions, except per share figures) 2025 2024 Change 2025 2024 Change Revenue $ 708.3 $ 738.8 (4.1%) $ 1,970.0 $ 2,038.4 (3.4%) Net Income $ 32.3 $ 23.5 37.4% $ 28.3 $ 40.8 (30.6%) Net Income Margin 4.6 % 3.2 % 140 bps 1.4 % 2.0 % (60) bps Adjusted EBITDA $ 113.2 $ 107.9 4.9% $ 238.8 $ 219.5 8.8% Adjusted EBITDA Margin 16.0 % 14.6 % 140 bps 12.1 % 10.8 % 130 bps Net income available to common shareholders $ 14.9 $ 9.3 60.2% $ 1.0 $ 9.0 (88.9%) Weighted average number of common shares outstanding 95.2 94.5 0.7% 95.3 94.7 0.6% Basic Earnings per Share $ 0.16 $ 0.10 60.0% $ 0.01 $ 0.09 (88.9%) Adjusted Net Income $ 45.5 $ 48.3 (5.8%) $ 72.6 $ 68.1 6.6% Adjusted weighted average number of common shares outstanding 149.5 148.8 0.5% 149.6 148.8 0.5% Adjusted Earnings per Share $ 0.30 $ 0.32 (6.3%) $ 0.48 $ 0.46 4.3% Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss), Adjusted Earnings (Loss) per Share, and Adjusted weighted average number of common shares outstanding are non-GAAP measures. Refer to the "Non-GAAP Financial Measures" and "Reconciliation of GAAP to Non-GAAP Financial Measures" sections for more information. Basic Earnings (Loss) per Share is determined by dividing Net Income (Loss) available to common shareholders by the Weighted average number of common shares outstanding. Net income (Loss) available to common shareholders is calculated as Net Income (Loss) less dividends declared on Series A Convertible Preferred Shares and Earnings allocated to Convertible Preferred Shares For the three months ended June 30, 2025, total revenue decreased 4.1% to $708.3 million driven by a $13.7 million decrease in our development services revenue due to timing delays in development projects, combined with a $13.3 million year over year decrease in our commercial landscaping business, primarily driven by a decline in commercial landscaping services. For the nine months ended June 30, 2025, total revenue decreased 3.4% to $1,970.0 million driven by a $56.1M million decrease in our commercial landscaping business combined with a $10.5 million decrease in snow removal revenue, both of which were primarily driven by strategic reductions of non-core businesses and to a lesser extent a decline in commercial landscaping and snow in our core business. Fiscal 2025 Results – Segments Maintenance Services - Operating Highlights Three Months Ended June 30, Nine Months Ended June 30, ($ in millions) 2025 2024 Change 2025 2024 Change Landscape Maintenance $ 502.9 $ 516.2 (2.6%) $ 1,200.2 $ 1,256.3 (4.5%) Snow Removal $ 5.9 $ 8.5 (30.6%) $ 210.7 $ 221.2 (4.7%) Total Revenue $ 508.8 $ 524.7 (3.0%) $ 1,410.9 $ 1,477.5 (4.5%) Adjusted EBITDA $ 81.7 $ 80.4 1.6% $ 172.7 $ 166.9 3.5% Adjusted EBITDA Margin 16.1 % 15.3 % 80 bps 12.2 % 11.3 % 90 bps Capital Expenditures $ 98.3 $ 16.8 485.1% $ 171.3 $ 34.7 393.7% For the third quarter of fiscal 2025, revenue in the Maintenance Services Segment decreased by $15.9 million, or 3.0%, from the 2024 period. Commercial Landscaping services decreased by $13.3 million, or 2.6% and snow removal services decreased by $2.6 million or 30.6%. The decrease in commercial landscaping was underpinned by a decline in a combination of contract services and ancillary services. Adjusted EBITDA for the Maintenance Services Segment for the three months ended June 30, 2025, increased by $1.3 million to $81.7 million from $80.4 million in the 2024 period. Segment Adjusted EBITDA Margin increased 80 basis points, to 16.1%, in the three months ended June 30, 2025, from 15.3% in the 2024 period. The increase in Segment Adjusted EBITDA Margin was primarily driven by cost management initiatives, which included reduced vehicle and equipment related costs, and personnel related costs. These savings offset the decrease in revenues described above. For the nine months ended June 30, 2025, Maintenance Services net service revenues decreased by $66.6 million, or 4.5%, from the 2024 period. Commercial Landscaping services decreased by $56.1 million, or 4.5% and snow removal services decreased by $10.5 million, or 4.7%. The decrease was primarily driven by strategic reductions of non-core businesses and to a lesser extent a decline in commercial landscaping in our core business. Adjusted EBITDA for the Maintenance Services Segment for the nine months ended June 30, 2025, increased by $5.8 million to $172.7 million from $166.9 million in the 2024 period. Segment Adjusted EBITDA Margin increased 90 basis points, to 12.2%, in the nine months ended June 30, 2025, from 11.3% in the 2024 period. The increase in Segment Adjusted EBITDA and Adjusted EBITDA Margin was primarily driven by lower personnel related costs, and vehicle and equipment related costs a result of the Company's cost management initiatives. These savings more than offset the decrease in revenues described above. Development Services - Operating Highlights Three Months Ended June 30, Nine Months Ended June 30, ($ in millions) 2025 2024 Change 2025 2024 Change Revenue $ 201.3 $ 215.0 (6.4%) $ 565.0 $ 564.8 0.0% Adjusted EBITDA $ 31.5 $ 27.5 14.5% $ 66.1 $ 52.6 25.7% Adjusted EBITDA Margin 15.6 % 12.8 % 280 bps 11.7 % 9.3 % 240 bps Capital Expenditures $ 5.2 $ 6.4 (18.8%) $ 24.5 $ 11.3 116.8% For the third quarter of fiscal 2025, revenue in the Development Services Segment decreased by $13.7 million, or 6.4%, compared to the 2024 period. The decrease was driven by timing delays in Development Services projects. Adjusted EBITDA for the Development Services Segment for the three months ended June 30, 2025, increased $4.0 million, to $31.5 million, compared to the 2024 period. Segment Adjusted EBITDA Margin increased 280 basis points, to 15.6% for the quarter from 12.8% in the 2024 period. The increases in Segment Adjusted EBITDA and Segment Adjusted EBITDA Margin were primarily driven by reductions in overhead costs due to the Company's cost management initiatives combined with the timing and mix of projects in the period. For the nine months ended June 30, 2025, revenue in the Development Services Segment increased $0.2 million, or 0.0%, compared to the 2024 period. The results were driven by increased Development Services project volumes in the first half of fiscal 2025, which were offset by delays in the timing of projects during the third quarter. Adjusted EBITDA for the Development Services Segment for the nine months ended June 30, 2025, increased $13.5 million, to $66.1 million, compared to the 2024 period. Segment Adjusted EBITDA Margin increased 240 basis points, to 11.7% for the period from 9.3% in the 2024 period. The increases in Segment Adjusted EBITDA and Segment Adjusted EBITDA Margin were primarily driven by reductions in overhead costs due to the Company's cost management initiatives, combined with the timing and mix of projects in the period. Total BrightView Cash Flow Metrics Nine Months Ended June 30, ($ in millions) 2025 2024 Change Net Cash Provided by Operating Activities $ 207.4 $ 152.1 36.4% Adjusted Free Cash Flow $ 25.8 $ 120.2 (78.5%) Capital Expenditures $ 195.8 $ 46.0 325.7% Net cash provided by operating activities for the nine months ended June 30, 2025, increased $55.3 million, to $207.4 million, from $152.1 million in the 2024 period. This increase was due to a decrease in net income, more than offset by increases in non-cash adjustments to reconcile net income to net cash provided by operating activities, combined with an increase in cash provided by accounts receivable. This was partially offset by a decrease in cash provided by other operating assets. Adjusted Free Cash Flow decreased $94.4 million to $25.8 million for the nine months ended June 30, 2025, from $120.2 million in the prior year. The decrease in Adjusted Free Cash Flow was due to an increase in cash used for capital expenditures, partially offset by an increase in net cash provided by operating activities. For the nine months ended June 30, 2025, capital expenditures were $195.8 million, compared with $46.0 million in the prior year. The Company also generated proceeds from the sale of property and equipment of $14.2 million and $14.1 million during the nine months ended June 30, 2025 and 2024, respectively. Net of proceeds from the sale of property and equipment, net capital expenditures represented 9.2% of revenue in the nine months ended June 30, 2025, compared to 1.6% for the nine months ended June 30, 2024. Total BrightView Balance Sheet Metrics ($ in millions) June 30, 2025 September 30, 2024 June 30, 2024 Total Financial Debt1 $ 876.8 $ 877.3 $ 885.3 Minus: Total Cash & Equivalents 79.1 140.4 115.9 Total Net Financial Debt2 $ 797.7 $ 736.9 $ 769.4 Total Net Financial Debt to Adjusted EBITDA ratio3 2.3x 2.3x 2.4x 1Total Financial Debt includes total long-term debt, net of original issue discount, and finance lease obligations. 2Total Net Financial Debt equals Total Financial Debt minus Total Cash & Equivalents. 3Total Net Financial Debt to Adjusted EBITDA ratio equals Total Net Financial Debt divided by the trailing twelve month Adjusted EBITDA. As of June 30, 2025, the Company's Total Net Financial Debt was $797.7 million, an increase of $60.8 million compared to $736.9 million as of September 30, 2024. The Company's Total Net Financial Debt to Adjusted EBITDA ratio was 2.3x as of June 30, 2025, compared to 2.3x as of September 30, 2024. Conference Call Information A conference call to discuss the third quarter fiscal 2025 financial results is scheduled for August 7, 2025, at 8:30 a.m. EDT. The U.S. toll-free dial-in for the conference call is (800) 274-8461 and the international dial-in is +1 (203) 518-9814. The Conference Access Code is BRIGHT. A live audio webcast of the conference call will be available on the Company's investor website where presentation materials will be posted prior to the call. A replay of the call will be available until 11:59 p.m. EDT on August 21, 2025. To access the recording, dial (800) 839-5495 (Access Code 27525). A link to the current Earnings Call slides can be found at About BrightView BrightView (NYSE: BV), the nation's largest commercial landscaper, proudly designs, creates, and maintains some of the best landscapes on Earth and provides the most efficient and comprehensive snow and ice removal services. With a dependable service commitment, BrightView brings brilliant landscapes to life at premier properties across the United States, including business parks and corporate offices, homeowners' associations, healthcare facilities, educational institutions, retail centers, resorts and theme parks, municipalities, golf courses, and sports venues. BrightView also serves as the Official Field Consultant to Major League Baseball. Through industry-leading best practices and sustainable solutions, BrightView is invested in taking care of our team members, engaging our clients, inspiring our communities, and preserving our planet. Visit and connect with us on X, Facebook, and LinkedIn. Forward Looking Statements This press release contains "forward-looking statements" within the meaning of the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the "safe harbor" created by those sections. All statements, other than statements of historical facts included in this presentation, including statements concerning our plans, objectives, goals, beliefs, business outlook, business trends, expectations regarding our industry, strategy, future events, future operations, future liquidity and financial position, future revenues, projected costs, prospects, plans and objectives of management and other information, may be forward-looking statements. Words such as "believes," "expects," "may," "will," "should," "seeks," "intends," "plans," "estimates," or "anticipates," and variations of such words or similar expressions are intended to identify forward-looking statements. The forward-looking statements are not historical facts or guarantees of future performance and are based upon our current expectations, beliefs, estimates and projections, and various assumptions, many of which, by their nature, are inherently uncertain and beyond our control. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Factors that could cause actual results to differ materially from those projected include, but are not limited to: competitive industry pressures; our ability to preserve long-term customer relationships; a determination by customers to reduce their outsourcing or use of preferred vendors; inconsistent practices and the operating results of individual branches; our ability to implement our business strategies and achieve our growth objectives; impacts of future acquisitions or other strategic transactions; the possibility that costs or difficulties related to the integration of acquired businesses' operations will be greater than expected and the possibility that integration efforts will disrupt our business and strain management time and resources; the potential impacts on revenues and our financial condition caused by any disposition of assets or discontinuation of lines of business; the seasonal nature of our landscape maintenance services; our dependence on weather conditions and the impact of severe weather and climate change on our business; disruptions in our supply chain and changes in our ability to source adequate supplies and materials in a timely manner; changes in general economic conditions can result in delays in construction activities which can adversely affect our development services segment; any failure to accurately estimate the overall risk, requirements, or costs when we bid on or negotiate contracts that are ultimately awarded to us and, for such contracts, the ability to collect amounts owed under such contracts; the conditions and periodic fluctuations of the new commercial construction sector, as well as spending on repair and upgrade activities; the level, timing and location of snowfall; our ability to retain or hire our executive management and other key personnel; our ability to attract, retain and maintain positive relations with workers; any failure to properly verify employment eligibility of our employees; the liability exposure from our use of subcontractors to perform work under certain customer contracts; our recognition of future impairment charges; laws and governmental regulations, including those relating to employees, wage and hour, immigration, human health, safety, transportation and the associated financial impact of such regulations; environmental, health and safety laws and regulations, including laws pertaining to the use of pesticides, herbicides and fertilizers, or liabilities thereunder, as well as the related risk of potential litigation; the distraction and impact caused by litigation, of adverse litigation judgments and settlements resulting from legal proceedings; tax increases and changes in tax rules; any increase in on-job accidents involving employees; any failure, inadequacy, interruption, security failure or breach of our information technology systems; compliance with data privacy regulations; any adverse consequences of our substantial indebtedness; our ability to adequately protect our intellectual property; increases in interest rates governing our variable rate indebtedness increasing the cost of servicing our substantial indebtedness; risks related to counterparty credit worthiness or non-performance of the derivative financial instruments we utilize; restrictions within our debt agreements that limit our flexibility in operating; our ability to generate sufficient cash flow to satisfy our significant debt service obligations; the incurrence of substantially more debt, including off-balance sheet financing, contractual obligations and general and commercial liabilities; any failure to extend credit under our facility or reduce the borrowing base under our Revolving Credit Facility; any future sales, or the perception of future sales, by us or our affiliates, which could cause the market price for our common stock to decline; the ability of KKR and One Rock to exert significant influence over us; anti-takeover provisions in our organizational documents that could delay or prevent a change in control; the authorization of our Board of Directors to issue and designate shares of our preferred stock in additional series without stockholder approval; the fact that the holders of our Series A Preferred Stock may have different interests from and vote their shares in a manner deemed adverse to, holders of our common stock; the dividend, liquidation, and redemption rights of the holders of our Series A Preferred Stock; our certificate of incorporation restricting all stockholder litigation matters to the Court of Chancery of the State of Delaware and the federal district courts of the United States of America; general business, economic, and financial market conditions; increases in raw material costs, fuel prices, wages and other operating costs, and changes in our ability to source adequate supplies and materials in a timely manner; occurrence of natural disasters, terrorist attacks, global health emergencies and other external events; heightened inflation, geopolitical conflicts, recession, financial market disruptions, trade policies and tariffs, and other economic conditions; environmental, social and governance matters and/or our reporting of such matters; significant changes in our stock price and its ability for resale; securities analysts' reports about our business or their downgrade of our stock or sector; maintaining effective internal controls; and costs and requirements imposed as a result of maintaining compliance with the requirements of being a public company. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found under "Item 1A. Risk Factors" in our Form 10-K for the fiscal year ended September 30, 2024, and such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in our filings with the SEC. Any forward-looking statement made in this press release speaks only as of the date on which it was made. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. Non-GAAP Financial Measures To supplement the Company's financial information presented in accordance with GAAP and aid understanding of the Company's business performance, the Company uses certain non-GAAP financial measures, namely "Adjusted EBITDA", "Adjusted EBITDA Margin", "Adjusted Net Income (Loss)", "Adjusted Earnings (Loss) per Share", "Adjusted Free Cash Flow", "Total Financial Debt", "Total Net Financial Debt" and "Total Net Financial Debt to Adjusted EBITDA ratio". We believe Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss), Adjusted Earnings (Loss) per Share, Adjusted Free Cash Flow, Total Financial Debt, Total Net Financial Debt, and Total Net Financial Debt to Adjusted EBITDA ratio assist investors in comparing our results across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Management believes these non-GAAP financial measures are useful to investors in highlighting trends in our operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which we operate and capital investments. Management regularly uses these measures as tools in evaluating our operating performance, financial performance and liquidity. Management uses Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss), Adjusted Earnings (Loss) per Share, Adjusted Free Cash Flow, Total Financial Debt, Total Net Financial Debt, and Total Net Financial Debt to Adjusted EBITDA ratio to supplement comparable GAAP measures in the evaluation of the effectiveness of our business strategies, to make budgeting decisions, to establish discretionary annual incentive compensation and to compare our performance against that of other peer companies using similar measures. In addition, we believe that Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss), Adjusted Earnings (Loss) per Share, Adjusted Free Cash Flow, Total Financial Debt, Total Net Financial Debt, and Total Net Financial Debt to Adjusted EBITDA ratio are frequently used by investors and other interested parties in the evaluation of issuers, many of which also present Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss), Adjusted Earnings (Loss) per Share, Adjusted Free Cash Flow, Total Financial Debt, Total Net Financial Debt, and Total Net Financial Debt to Adjusted EBITDA ratio when reporting their results in an effort to facilitate an understanding of their operating and financial results and liquidity. Management supplements GAAP results with non-GAAP financial measures to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. Adjusted EBITDA: We define Adjusted EBITDA as net income (loss) before interest, taxes, depreciation and amortization, as further adjusted to exclude certain non-cash, non-recurring and other adjustment items. Adjusted EBITDA Margin: We define Adjusted EBITDA Margin as Adjusted EBITDA, defined above, divided by Net Service Revenues. Adjusted Net Income (Loss): We define Adjusted Net Income (Loss) as net income (loss) including interest and depreciation, and excluding other items used to calculate Adjusted EBITDA and further adjusted for the tax effect of these exclusions and the removal of the discrete tax items. Adjusted Earnings per Share: We define Adjusted Earnings per Share as Adjusted Net Income divided by the (i) weighted average number of common shares outstanding used in the calculation of basic earnings per share plus (ii) shares of common stock related to the Series A Preferred Stock on an as-converted basis, assumed to be converted for the entire period. The addition of shares of common stock related to the Series A Convertible Preferred Stock on an as-converted basis reflects the dilutive impact of the potential conversion of the Series A Preferred Stock and is expected to provide comparability in future periods. Adjusted Free Cash Flow: We define Adjusted Free Cash Flow as cash flows from operating activities less capital expenditures, net of proceeds from the sale of property and equipment. Total Financial Debt: We define Total Financial Debt as total long-term debt, net of original issue discount, and finance lease obligations. Total Net Financial Debt: We define Total Net Financial Debt as Total Financial Debt minus total cash and cash equivalents. Total Net Financial Debt to Adjusted EBITDA ratio: We define Total Net Financial Debt to Adjusted EBITDA ratio as Total Net Financial Debt divided by the trailing twelve month Adjusted EBITDA. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss), Adjusted Earnings (Loss) per Share, Adjusted Free Cash Flow, Total Financial Debt, Total Net Financial Debt, and Total Net Financial Debt to Adjusted EBITDA ratio are not recognized terms under GAAP and should not be considered as an alternative to net income (loss) or the ratio of net income (loss) to net revenue as a measure of financial performance, cash flows provided by operating activities as a measure of liquidity, or any other performance measure derived in accordance with GAAP. Additionally, these measures are not intended to be a measure of Adjusted Free Cash Flow available for management's discretionary use as they do not consider certain cash requirements such as interest payments, tax payments and debt service requirements. The presentations of these measures have limitations as analytical tools and should not be considered in isolation, or as a substitute for analysis of our results as reported under GAAP. Because not all companies use identical calculations, the presentations of these measures may not be comparable to the same or other similarly titled measures of other companies and can differ significantly from company to company. BrightView Holdings, Inc. Consolidated Balance Sheets (Unaudited) (in millions)* June 30, 2025 September 30, 2024 Assets Current assets: Cash and cash equivalents $ 79.1 $ 140.4 Accounts receivable, net 396.2 415.2 Unbilled revenue 108.9 137.8 Other current assets 81.1 86.7 Total current assets 665.3 780.1 Property and equipment, net 493.1 391.9 Intangible assets, net 73.5 95.8 Goodwill 2,015.7 2,015.7 Operating lease assets 74.6 81.3 Other assets 35.0 27.0 Total assets $ 3,357.2 $ 3,391.8 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 120.4 $ 144.1 Deferred revenue 99.7 83.8 Current portion of self-insurance reserves 57.2 52.8 Accrued expenses and other current liabilities 207.2 237.7 Current portion of operating lease liabilities 24.8 24.9 Total current liabilities 509.3 543.3 Long-term debt, net 790.7 802.5 Deferred tax liabilities 47.2 43.9 Self-insurance reserves 124.7 112.8 Long-term operating lease liabilities 55.8 62.6 Other liabilities 42.8 44.3 Total liabilities 1,570.5 1,609.4 Mezzanine equity: Series A convertible preferred shares, $0.01 par value, 7% cumulative dividends; 500,000 shares issued and outstanding as of June 30, 2025 and September 30, 2024, aggregate liquidation preference of $512.0 as of June 30, 2025 and September 30, 2024 507.1 507.1 Stockholders' equity: Preferred stock, $0.01 par value; 50,000,000 shares authorized; no shares issued or outstanding as of June 30, 2025 and September 30, 2024 — — Common stock, $0.01 par value; 500,000,000 shares authorized; 109,500,000 and 108,200,000 shares issued and 95,000,000 and 94,800,000 shares outstanding as of June 30, 2025 and September 30, 2024, respectively 1.1 1.1 Treasury stock, at cost; 14,500,000 and 13,400,000 shares as of June 30, 2025 and September 30, 2024, respectively (188.1 ) (173.5 ) Additional paid-in capital 1,507.8 1,518.1 Accumulated deficit (40.6 ) (68.9 ) Accumulated other comprehensive (loss) (0.6 ) (1.5 ) Total stockholders' equity 1,279.6 1,275.3 Total liabilities, mezzanine equity and stockholders' equity $ 3,357.2 $ 3,391.8 (*) Amounts may not total due to rounding. BrightView Holdings, Inc. Consolidated Statements of Operations (Unaudited) Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 2025 2024 (in millions)* Net service revenues $ 708.3 $ 738.8 $ 1,970.0 $ 2,038.4 Cost of services provided 537.4 561.2 1,524.8 1,575.0 Gross profit 170.9 177.6 445.2 463.4 Selling, general and administrative expense 106.2 120.1 343.5 375.0 Gain on divestiture - (0.1 ) - (44.0 ) Amortization expense 7.1 8.6 22.3 27.4 Income from operations 57.6 49.0 79.4 105.0 Other (income) expense (0.7 ) 0.5 0.1 (1.5 ) Interest expense, net 13.4 15.1 40.3 48.2 Income before income taxes 44.9 33.4 39.0 58.3 Income tax expense 12.6 9.9 10.7 17.5 Net income $ 32.3 $ 23.5 $ 28.3 $ 40.8 Less: Dividends on Series A convertible preferred shares 8.9 8.9 26.8 26.7 Net income attributable to common stockholders $ 23.4 $ 14.6 $ 1.5 $ 14.1 Earnings per share Basic earnings per share $ 0.16 $ 0.10 $ 0.01 $ 0.09 Diluted earnings per share $ 0.15 $ 0.10 $ 0.01 $ 0.09 BrightView Holdings, Inc. Net Loss (Income) Available to Common Shareholders (Unaudited) Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 2025 2024 (in millions)* Net income $ 32.3 $ 23.5 $ 28.3 $ 40.8 Less: Dividends on Series A convertible preferred shares (8.9 ) (8.9 ) (26.8 ) (26.7 ) Less: Earnings allocated to Convertible Preferred Shares (8.5 ) (5.3 ) (0.5 ) (5.1 ) Net income available to common shareholders $ 14.9 $ 9.3 $ 1.0 $ 9.0 BrightView Holdings, Inc. Segment Reporting (Unaudited) Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 2025 2024 (in millions)* Maintenance Services $ 508.8 $ 524.7 $ ... 1,410.9 $ 1,477.5 Development Services 201.3 215.0 565.0 564.8 Eliminations (1.8 ) (0.9 ) (5.9 ) (3.9 ) Net Service Revenues $ 708.3 $ 738.8 $ 1,970.0 $ 2,038.4 Maintenance Services $ 98.3 $ 16.8 $ 171.3 $ 34.7 Development Services 5.2 6.4 24.5 11.3 Capital Expenditures $ 103.5 $ 23.2 $ 195.8 $ 46.0 Maintenance Services $ 81.7 $ 80.4 $ 172.7 $ 166.9 Development Services 31.5 27.5 66.1 52.6 Adjusted EBITDA $ 113.2 $ 107.9 $ 238.8 $ 219.5 (*) Amounts may not total due to rounding. BrightView Holdings, Inc. Consolidated Statements of Cash Flows (Unaudited) Nine Months Ended June 30, 2025 2024 (in millions)* Cash flows from operating activities: Net income $ 28.3 $ 40.8 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 101.2 79.8 Amortization of intangible assets 22.3 27.4 Amortization of financing costs and original issue discount 2.2 2.0 Loss on debt extinguishment 0.7 0.6 Deferred taxes 0.8 (10.1 ) Equity-based compensation 13.6 15.1 Realized gain on hedges (4.1 ) (8.5 ) Gain on divestiture — (44.0 ) Other non-cash activities (2.2 ) (6.0 ) Change in operating assets and liabilities: Accounts receivable 10.0 (9.9 ) Unbilled and deferred revenue 44.7 47.1 Other operating assets (3.5 ) 21.4 Accounts payable and other operating liabilities (6.6 ) (3.6 ) Net cash provided by operating activities 207.4 152.1 Cash flows from investing activities: Purchase of property and equipment (195.8 ) (46.0 ) Proceeds from sale of property and equipment 14.2 14.1 Proceeds from divestiture — 51.6 Other investing activities 2.4 3.2 Net cash (used) provided by investing activities (179.2 ) 22.9 Cash flows from financing activities: Repayments of finance lease obligations (38.4 ) (26.4 ) Repayments of receivables financing agreement (27.9 ) (82.2 ) Proceeds from receivables financing agreement, net of issuance costs 14.5 0.5 Debt issuance and prepayment costs (1.3 ) (2.4 ) Series A preferred stock dividend (26.9 ) (8.9 ) Proceeds from issuance of common stock, net of share issuance costs 2.8 1.3 Repurchase of common stock and distributions (14.5 ) (3.1 ) Contingent business acquisition payments (0.5 ) (4.7 ) Increase in book overdrafts 2.5 — Other financing activities 0.2 (0.2 ) Net cash (used) by financing activities (89.5 ) (126.1 ) Net change in cash and cash equivalents (61.3 ) 48.9 Cash and cash equivalents, beginning of period 140.4 67.0 Cash and cash equivalents, end of period $ 79.1 $ 115.9 Supplemental Cash Flow Information: Cash paid for income taxes, net $ 2.4 $ 14.8 Cash paid for interest $ 43.3 $ 61.9 Non-cash Series A Preferred Stock dividends $ — $ 8.9 Accrual for property and equipment $ 9.1 $ 21.3 (*) Amounts may not total due to rounding. BrightView Holdings, Inc. Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) Three Months Ended June 30, Nine Months Ended June 30, (in millions)* 2025 2024 2025 2024 Adjusted EBITDA Net income $ 32.3 $ 23.5 $ 28.3 $ 40.8 Income tax expense 12.6 9.9 10.7 17.5 Interest expense, net 13.4 15.1 40.3 48.2 Depreciation expense 38.9 28.1 101.2 79.8 Amortization expense 7.1 8.6 22.3 27.4 Business transformation and integration costs (a) 4.2 17.1 21.2 33.9 Gain on divestiture (b) — (0.1 ) — (44.0 ) Equity-based compensation (c) 4.7 5.1 14.1 15.3 Debt extinguishment (d) — 0.6 0.7 0.6 Adjusted EBITDA $ 113.2 $ 107.9 $ 238.8 $ 219.5 Adjusted Net Income Net income $ 32.3 $ 23.5 $ 28.3 $ 40.8 Amortization expense 7.1 8.6 22.3 27.4 Business transformation and integration costs (a) 4.2 17.1 21.2 33.9 Gain on divestiture (b) — (0.1 ) — (44.0 ) Equity-based compensation (c) 4.7 5.1 14.1 15.3 Debt extinguishment (d) — 0.6 0.7 0.6 Income tax adjustment (e) (2.8 ) (6.5 ) (14.0 ) (5.9 ) Adjusted Net Income $ 45.5 $ 48.3 $ 72.6 $ 68.1 Adjusted Free Cash Flow Cash flows provided by operating activities $ 55.8 $ 42.7 $ 207.4 $ 152.1 Minus: Capital expenditures 103.6 23.2 195.8 46.0 Plus: Proceeds from sale of property and equipment 6.5 11.5 14.2 14.1 Adjusted Free Cash Flow $ (41.3 ) $ 31.0 $ 25.8 $ 120.2 Adjusted Earnings per Share Numerator: Adjusted Net Income $ 45.5 $ 48.3 $ 72.6 $ 68.1 Denominator: Weighted average number of common shares outstanding – basic 95,228,000 94,549,000 95,302,000 94,668,000 Plus: Dilutive impact of Series A convertible preferred stock as-converted 54,242,000 54,242,000 54,242,000 54,127,000 Adjusted weighted average number of common shares outstanding 149,470,000 148,791,000 149,544,000 148,795,000 Adjusted Earnings per Share $ 0.30 $ 0.32 $ 0.48 $ 0.46 (*) Amounts may not total due to rounding. BrightView Holdings, Inc. Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) (a) Business transformation and integration costs consist of (i) severance and related costs; (ii) business integration costs and (iii) information technology infrastructure, transformation costs, and other. Three Months Ended June 30, Nine Months Ended June 30, (in millions)* 2025 2024 2025 2024 Severance and related costs $ — $ 4.3 $ (0.4 ) $ 10.5 Business integration (f) 0.2 0.4 — (0.5 ) IT, infrastructure, transformation, and other (g) 4.0 12.4 21.6 23.9 Business transformation and integration costs $ 4.2 $ 17.1 $ 21.2 $ 33.9 (b) Represents the realized gain on sale and transaction related expenses related to the divestiture of U.S. Lawns on January 12, 2024. (c) Represents equity-based compensation expense and related taxes recognized for equity incentive plans outstanding. (d) Represents losses on the extinguishment of debt related to Amendment No. 9 to the Credit Agreement, in the fiscal year ended September 30, 20025, and includes accelerated amortization of deferred financing fees and original issue discount as well as fees paid to lenders and third parties. (e) Represents the tax effect of pre-tax items excluded from Adjusted Net Income and the removal of the applicable discrete tax items, which collectively result in a reduction of income tax (benefit). The tax effect of pre-tax items excluded from Adjusted Net Income is computed using the statutory rate related to the jurisdiction that was impacted by the adjustment after taking into account the impact of permanent differences and valuation allowances. Discrete tax items include changes in laws or rates, changes in uncertain tax positions relating to prior years and changes in valuation allowances. Three Months Ended June 30, Nine Months Ended June 30, (in millions)* 2025 2024 2025 2024 Tax impact of pre-tax income adjustments $ 3.1 $ 6.9 $ 14.0 $ 19.3 Discrete tax items (0.3 ) (0.4 ) — (13.4 ) Income tax adjustment $ 2.8 $ 6.5 $ 14.0 $ 5.9 (f) Represents isolated expenses specifically related to the integration of acquired companies such as one-time employee retention costs, employee onboarding and training costs, fleet and uniform rebranding costs, and adjustments to performance based contingent consideration. The Company excludes Business integration costs from the measures disclosed above since such expenses vary in amount due to the number of acquisitions and size of acquired companies as well as factors specific to each acquisition, and as a result lack predictability as to occurrence and/or timing, and create a lack of comparability between periods. (g) Represents expenses related to distinct initiatives, typically significant enterprise-wide changes, including actions taken as part of the Company's One BrightView initiative. Such expenses are excluded from the measures disclosed above since such expenses vary in amount based on occurrence as well as factors specific to each of the activities, are outside of the normal operations of the business, and create a lack of comparability between periods. Total Financial Debt and Total Net Financial Debt (in millions)* June 30, 2025 September 30, 2024 June 30, 2024 Long-term debt, net $ 790.7 $ 802.5 $ 807.0 Plus: Current portion of long term debt — — — Financing costs, net 5.8 6.5 6.8 Present value of net minimum payment - finance lease obligations (h) 80.3 68.3 71.5 Total Financial Debt 876.8 877.3 885.3 Less: Cash and cash equivalents (79.1 ) (140.4 ) (115.9 ) Total Net Financial Debt $ 797.7 $ 736.9 $ 769.4 Total Net Financial Debt to Adjusted EBITDA ratio 2.3x 2.3x 2.4x (h) Balance is presented within Accrued expenses and other current liabilities and Other liabilities in the Consolidated Balance Sheet. (*) Amounts may not total due to rounding. Source: BrightView Landscapes View source version on Contacts For More Information: Investor Relations Chris Stoczko, Vice President of FinanceIR@ News Media David Freireich, Vice President of Communications & Public Sign in to access your portfolio
Associated Press
04-08-2025
- Business
- Associated Press
CommScope Reports Second Quarter 2025 Results
CLAREMONT, N.C.--(BUSINESS WIRE)--Aug 4, 2025-- CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended June 30, 2025. We are extremely pleased with our outstanding results in the second quarter. CommScope net sales of $1.39 billion increased 31.7% from the prior year. Net sales were positively supported by stronger-than-expected results across all segments. Non-GAAP adjusted EBITDA was $338 million, a strong improvement of 79% year-over-year, marking the fifth consecutive quarter. Second quarter adjusted EBITDA as a percentage of revenues was 24.3%, compared to 17.9% in the prior year, a year-over-year improvement of 640 basis points. 'We are well positioned for future growth and are raising our 2025 adjusted EBITDA guideposts to $1.15 to $1.20 billion,' said Chuck Treadway, President and Chief Executive Officer. He continued, 'As announced, CommScope entered into a definitive agreement to sell its CCS segment to Amphenol (NYSE: APH). Upon closing, CommScope will receive approximately USD $10.5 billion in cash. The sale is expected to close in the first half of 2026, subject to customary closing conditions, including receipt of applicable regulatory and shareholder approvals. This transformational deal unlocks equity value, returns cash to our shareholders and strengthens the remaining businesses. Amphenol is a strong buyer of the CCS assets. Our customers, and employees going with the transaction will be in very good hands. I am very excited for the future of ANS and RUCKUS as both businesses have recovered from their prior year challenges and are positioned for growth.' 'With the proceeds from the recently announced transaction, we expect to repay all existing debt, redeem our preferred equity and add modest leverage to the remaining company. We will have significant excess cash. We expect to distribute this excess cash to our common shareholders as a dividend within 60 to 90 days following the closing of the proposed transaction after taking into account all relevant factors. The exact amount and timing of the dividend will be determined by the Company after closing. As evidenced by the second quarter results in ANS and RUCKUS, we are excited about the future of the remaining company. On a twelve-month trailing basis, ANS and RUCKUS Non-GAAP adjusted EBITDA was $300 million on Net Sales of $1.7 billion,' said Kyle Lorentzen, Chief Financial Officer. As a result of divesting the Distributed Antenna Systems (DAS) business during the quarter ended March 31, 2025, the Company has changed the name of its Networking, Intelligent Cellular & Security Solutions (NICS) segment to RUCKUS, effective as of April 1, 2025. There were no changes to the composition of the Company's operating or reportable segments, the financial information reviewed by the chief operating decision maker (CODM), or historical segment operating results as a result of this change. Second Quarter Results and Comparisons Net sales in the second quarter of 2025 increased 31.7% year-over-year to $1.39 billion due to higher net sales in all segments. Net sales increased across all regions, except the Caribbean and Latin America region and Canada, in the second quarter of 2025. Income from continuing operations of $29.4 million, or $0.05 per diluted share, in the second quarter of 2025, increased compared to the prior year period's loss from continuing operations of $(56.2) million, or $(0.34) per share. Non-GAAP adjusted net income for the second quarter of 2025 was $119.4 million, or $0.44 per diluted share, versus $8.6 million, or $0.03 per share, in the second quarter of 2024. Non-GAAP adjusted EBITDA increased 79.0% to $337.8 million in the second quarter of 2025 compared to the same period last year. Non-GAAP adjusted EBITDA as a percentage of net sales increased to 24.3% in the second quarter of 2025 compared to 17.9% in the same prior year period. Reconciliations of the reported GAAP results to non-GAAP adjusted results are included below. Second Quarter Comparisons Sales by Region Segment Net Sales Segment Operating Income (Loss) Segment Adjusted EBITDA (See 'Non-GAAP Financial Measures,' below) Cash Flow and Balance Sheet Conference Call, Webcast and Investor Presentation CommScope will host a conference call today at 4:30 p.m. ET in which management will discuss the proposed transaction and second quarter 2025 results. The conference call will also be webcast. The live, listen-only audio of the call will be available through a link on the Events and Presentations page of CommScope's Investor Relations website. A webcast replay will be archived on CommScope's website for a limited period of time following the conference call. During the conference call, the Company may discuss and answer questions concerning the proposed transaction, as well as business and financial developments and trends that have occurred after quarter-end. The Company's responses to questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been disclosed previously. About CommScope: CommScope (NASDAQ: COMM) is pushing the boundaries of technology to create the world's most advanced wired and wireless networks. Our global team of employees, innovators and technologists empower customers to anticipate what's next and invent what's possible. Discover more at Follow us on Twitter and LinkedIn and like us on Facebook. Sign up for our press releases and blog posts. Non-GAAP Financial Measures CommScope management believes that presenting certain non-GAAP financial measures enhances an investor's understanding of our financial performance. CommScope management further believes that these financial measures are useful in assessing CommScope's operating performance from period to period by excluding certain items that we believe are not representative of our core business. CommScope management also uses certain of these financial measures for business planning purposes and in measuring CommScope's performance relative to that of its competitors. CommScope management believes these financial measures are commonly used by investors to evaluate CommScope's performance and that of its competitors. However, CommScope's use of certain non-GAAP terms may vary from that of others in its industry. Non-GAAP financial measures should not be considered as alternatives to operating income (loss), net income (loss), cash flow from operations or any other performance measures derived in accordance with U.S. GAAP as measures of operating performance, operating cash flows or liquidity. A reconciliation of each of the non-GAAP measures discussed herein to their most comparable GAAP measures is below. RemainCo Financial Measures RemainCo financial measures are the aggregate of the Access Network Solutions and RUCKUS segments. They do not include the results of the Connectivity and Cable Solutions segment. The RemainCo segments and the Connectivity and Cable Solutions segment represent the business segments as currently managed and reported by CommScope. Future results and the composition of any business divested in the future may vary and differ materially from the presentation of the RemainCo financial measures. Forward Looking Statements This press release includes certain statements that constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect our current views with respect to future events and financial performance. These forward-looking statements are generally identified by their use of such terms and phrases as 'intend,' 'goal,' 'estimate,' 'expect,' 'project,' 'projections,' 'plans,' 'potential,' 'anticipate,' 'should,' 'could,' 'designed to,' 'foreseeable future,' 'believe,' 'think,' 'scheduled,' 'outlook,' 'target,' 'guidance' and similar expressions, although not all forward-looking statements contain such terms. This list of indicative terms and phrases is not intended to be all-inclusive. These forward-looking statements are subject to various risks and uncertainties, many of which are outside our control, including, without limitation, the occurrence of any event, change or other circumstances that could give rise to the termination of the purchase agreement; the inability to complete the proposed transaction due to the failure to obtain stockholder approval for the proposed transaction or the failure to satisfy other conditions to completion of the proposed transaction, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction; risks related to disruption of management's attention from the Company's ongoing business operations due to the transaction; the effect of the announcement of the proposed transaction on the Company's relationships, operating results and business generally; the risk that the proposed transaction will not be consummated in a timely manner; exceeding the expected costs of the transaction; our dependence on customers' capital spending on data, communication and entertainment equipment, which could be negatively impacted by a regional or global economic downturn, among other factors; the potential impact of higher than normal inflation; concentration of sales among a limited number of customers and channel partners; risks associated with our sales through channel partners; changes to the regulatory environment in which we and our customers operate; changes in technology; industry competition and the ability to retain customers through product innovation, introduction, and marketing; changes in cost and availability of key raw materials, components and commodities and the potential effect on customer pricing and timing of delivery of products to customers; risks related to our ability to implement price increases on our products and services; risks associated with our dependence on a limited number of key suppliers for certain raw materials and components; risks related to the successful execution of CommScope NEXT and other cost saving initiatives; potential difficulties in realigning global manufacturing capacity and capabilities among our global manufacturing facilities or those of our contract manufacturers that may affect our ability to meet customer demands for products; possible future restructuring actions; the risk that our manufacturing operations, including our contract manufacturers on which we rely, encounter capacity, production, quality, financial or other difficulties causing difficulty in meeting customer demands; our substantial indebtedness, including our upcoming maturities and evaluation of capital structure alternatives and restrictive debt covenants; our ability to refinance existing indebtedness prior to its maturity or incur additional indebtedness at acceptable interest rates or at all; our ability to generate cash to service our indebtedness; the ability to recognize the expected benefits of the sales of the OWN segment and DAS business unit and Home business (the Transactions), including the expected financial performance of CommScope following the Transactions; the effect of the Transactions on the ability of CommScope to retain and hire key personnel and maintain relationships with its key business partners and customers, and others with whom it does business, or on its operating results and businesses generally; the response of CommScope's competitors, creditors and other stakeholders to the Transactions; potential litigation relating to the Transactions; our ability to integrate and fully realize anticipated benefits from prior or future divestitures, acquisitions or equity investments; possible future additional impairment charges for fixed or intangible assets, including goodwill; our ability to attract and retain qualified key employees; labor unrest; product quality or performance issues, including those associated with our suppliers or contract manufacturers, and associated warranty claims; our ability to maintain effective management information technology systems and to successfully implement major systems initiatives; cyber-security incidents, including data security breaches, ransomware or computer viruses; the use of open standards; the long-term impact of climate change; significant international operations exposing us to economic risks like variability in foreign exchange rates and inflation, as well as political and other risks, including the impact of wars, regional conflicts and terrorism; our ability to comply with governmental anti-corruption laws and regulations worldwide; the impact of export and import controls and sanctions worldwide on our supply chain and ability to compete in international markets; changes in the laws and policies in the United States affecting trade, including the risk and uncertainty related to tariffs or potential trade wars and potential changes to laws and policies, that may impact our products and costs; the costs of protecting or defending intellectual property; costs and challenges of compliance with domestic and foreign social and environmental laws; the impact of litigation and similar regulatory proceedings in which we are involved or may become involved, including the costs of such litigation; the scope, duration and impact of disease outbreaks and pandemics, such as COVID-19, on our business, including employees, sites, operations, customers, supply chain logistics and the global economy; our stock price volatility; income tax rate variability and ability to recover amounts recorded as deferred tax assets; and other factors beyond our control. These and other factors are discussed in greater detail in our 2024 Annual Report on Form 10-K and may be updated from time to time in our annual reports, quarterly reports, current reports and other filings we make with the Securities and Exchange Commission. Although the information contained in this press release represents our best judgment as of the date of this release based on information currently available and reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. Given these uncertainties, we caution you not to place undue reliance on these forward-looking statements, which speak only as of the date made. We are not undertaking any duty or obligation to update this information to reflect developments or information obtained after the date of this press release, except to the extent required by law. Additional Information about the Proposed Transaction and Where to Find It This communication may be deemed solicitation material in respect of the proposed sale of the Company's CCS business to Amphenol. In connection with the proposed transaction, CommScope will file with the SEC and furnish to CommScope's stockholders a proxy statement and other relevant documents. This communication does not constitute a solicitation of any vote or approval. Stockholders are urged to read the proxy statement when it becomes available and any other documents to be filed with the SEC in connection with the proposed transaction or incorporated by reference in the proxy statement because they will contain important information about the proposed transaction. Investors will be able to obtain free of charge the proxy statement and other documents filed with the SEC at the SEC's website at In addition, the proxy statement and CommScope's annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 are available free of charge through CommScope's website at as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. The directors, executive officers and certain other members of management and employees of CommScope may be deemed 'participants' in the solicitation of proxies from stockholders of CommScope in favor of the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the stockholders of CommScope in connection with the proposed transaction will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. You can find information about the Company's executive officers and directors in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the SEC on February 26, 2025, and in its definitive proxy statement filed with the SEC on Schedule 14A on March 24, 2025. View source version on CONTACT: Investor Contact: Massimo DiSabato, CommScope [email protected] Media Contact: [email protected] KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY TELECOMMUNICATIONS MOBILE/WIRELESS NETWORKS INTERNET HARDWARE SOURCE: CommScope Holding Company, Inc. Copyright Business Wire 2025. PUB: 08/04/2025 07:15 AM/DISC: 08/04/2025 07:15 AM
Yahoo
31-07-2025
- Business
- Yahoo
HF Sinclair beats second-quarter profit estimates
(Reuters) -Refiner HF Sinclair beat Wall Street estimates for second-quarter profit on Thursday, helped by improving refining margins. The company reported adjusted profit of $1.70 per share for the three months ended June 30, compared with analysts' average estimate of $1.02 per share, according to data compiled by LSEG.
Yahoo
31-07-2025
- Business
- Yahoo
Samsung Electronics says Korea-U.S. trade deal reduces uncertainty
Seoul (Reuters) -Samsung Electronics said on Thursday that the South Korea-U.S. trade deal would reduce uncertainty. The comments were made during its quarterly earnings conference call.
