Page 8 – Channelchek

Release – The GEO Group Reports Second Quarter 2025 Results and Announces $300 Million Share Repurchase Program

Posted on August 6, 2025August 6, 2025 by aweinsoff@channelchek.com

August 6, 2025

BOCA RATON, Fla.–(BUSINESS WIRE)–Aug. 6, 2025– The GEO Group, Inc. (NYSE: GEO) (“GEO”), a leading provider of contracted support services for secure facilities, processing centers, and reentry centers, as well as enhanced in-custody rehabilitation, post-release support, and electronic monitoring programs, reported its financial results for the second quarter 2025 and announced that its Board of Directors has authorized a $300 million share repurchase program.

Second Quarter 2025 Highlights

Total revenues of $636.2 million
Net Income of $29.1 million
Net Income Attributable to GEO of $0.21 per diluted share
Adjusted EBITDA of $118.6 million

For the second quarter 2025, we reported net income attributable to GEO of $29.1 million, or $0.21 per diluted share, compared to a net loss attributable to GEO of $32.5 million, or $0.25 per diluted share, for the second quarter 2024. Second quarter 2025 results reflect $0.6 million, pre-tax, in costs associated with the extinguishment of debt, compared to $82.3 million, pre-tax, in costs associated with the extinguishment of debt for the second quarter 2024. Excluding unusual and/or nonrecurring items, we reported adjusted net income for the second quarter 2025 of $30.7 million, or $0.22 per diluted share, compared to $30.1 million, or $0.23 per diluted share, for the second quarter 2024.

We reported total revenues for the second quarter 2025 of $636.2 million compared to $607.2 million for the second quarter 2024. We reported second quarter 2025 Adjusted EBITDA of $118.6 million, compared to $119.3 million for the second quarter 2024.

George C. Zoley, Executive Chairman of GEO, said, “We are very pleased with our strong second quarter results, and the significant progress we have made towards meeting our growth and strategic objectives. All our efforts are aimed at placing GEO in the best competitive position possible to pursue what we believe to be unprecedented growth opportunities. Given the intrinsic value of our owned real estate assets, as evidenced by the recent $312 million sale of our Lawon, Oklahoma Facility, and the unprecedented growth opportunities in front of us, we believe strongly that our current equity valuation offers an attractive opportunity for investors. To capitalize on this unique opportunity to enhance long-term shareholder value, our Board of Directors has authorized a $300 million share repurchase program. Our focus as a management team remains on enhancing value for our shareholders through the disciplined allocation of capital.”

First Six Months 2025 Highlights

Total revenues of $1.24 billion
Net Income of $48.6 million
Net Income Attributable to GEO of $0.35 per diluted share
Adjusted EBITDA of $218.4 million

For the first six months of 2025, we reported net income attributable to GEO of $48.7 million, or $0.35 per diluted share, compared to a net loss attributable to GEO of $9.8 million, or $0.08 per diluted share, for the first six months of 2024. Results for the first six months of 2025 reflect $0.6 million, pre-tax, in costs associated with the extinguishment of debt, compared to $82.4 million, pre-tax, in costs associated with the extinguishment of debt for the first six months of 2024. Excluding unusual and/or nonrecurring items, we reported adjusted net income for the first six months of 2025 of $50.3 million, or $0.36 per diluted share, compared to $53.8 million, or $0.43 per diluted share, for the first six months of 2024.

We reported total revenues for the first six months of 2025 of $1.24 billion compared to $1.21 billion for the first six months of 2024. We reported Adjusted EBITDA for the first six months of 2025 of $218.4 million, compared to $236.9 million for the first six months of 2024.

Share Repurchase Program

On August 4, 2025, our Board of Directors approved a share repurchase program authorizing GEO to repurchase up to $300 million of our Company’s common stock. Repurchases of GEO’s outstanding common stock will be made in accordance with applicable securities laws and may be made at our senior management’s discretion from time to time in the open market, by block purchase, through privately negotiated transactions, pursuant to a trading plan, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The authorization for the share repurchase program expires on June 30, 2028, and may be extended, increased, decreased, suspended or terminated by our Board of Directors in its discretion at any time. Repurchases of the Company’s common stock (and the timing thereof) will depend upon market conditions, regulatory requirements, the Company’s existing obligations, including its Credit Agreement, other corporate liquidity requirements and priorities and other factors as may be considered in the Company’s sole discretion. The authorization for the share repurchase program does not obligate GEO to purchase any particular amount of the Company’s common stock.

Recent Developments

On February 27, 2025, we announced a 15-year contract with U.S. Immigration and Customs Enforcement (“ICE”) to provide support services for the establishment of a federal immigration processing center at the company-owned, 1,000-bed Delaney Hall Facility (“Delaney Hall”) in Newark, New Jersey. At full occupancy, the support services contract for Delaney Hall would be expected to generate in excess of $60 million in annualized revenues for GEO, with margins consistent with GEO’s company-owned Secure Services facilities. Delaney Hall began intake of ICE detainees in the second quarter 2025 and remains in the process of ramping up.

On March 20, 2025, we announced a letter contract with ICE for the activation of a federal immigration processing center at the GEO-owned, 1,800-bed North Lake Facility (the “North Lake Facility”) in Baldwin, Michigan. GEO and ICE have finalized and executed a two-year support services contract for the North Lake Facility, effective July 18, 2025. Based on the scope of services and term of the contract, the North Lake Facility is expected to generate in excess of $85 million in annualized revenues at full occupancy, with margins consistent with GEO’s company-owned Secure Services facilities. The North Lake Facility has begun intake of ICE detainees, and we expect it to gradually ramp up during the third and fourth quarters of 2025.

On June 9, 2025, we announced the activation of our company-owned, 1,868-bed D. Ray James Facility (the “D. Ray James Facility”) in Georgia under a contract modification to the existing intergovernmental service agreement that is in place for our company-owned, 1,118-bed Folkston ICE Processing Center, thus creating a 2,986-bed facility complex. Under the modified agreement, the D. Ray James Facility is expected to generate approximately $66 million in incremental annualized revenues at full occupancy, with margins consistent with GEO’s company-owned Secure Services facilities. The D. Ray James Facility has begun intake of ICE detainees, and we expect it to gradually ramp up during the third and fourth quarters of 2025.

On June 10, 2025, we provided an update on a recent court settlement, which allowed for the immediate full intake at our company-owned, 1,940-bed Adelanto ICE Processing Center (the “Adelanto Center”) in California. Intake at the Adelanto Center had been prohibited by a court order issued more than four years ago based on then-prevailing COVID-19 conditions. With the lifting of these court restrictions, the Adelanto Center has been ramping up over the last two months. At full occupancy, the Adelanto Center would be expected to generate up to approximately $31 million in additional incremental annualized revenues, with margins consistent with GEO’s company-owned Secure Services facilities.

On June 30, 2025, we completed the previously announced depopulation of our company-owned, 1,200-bed Lea County Facility (the “Lea County Facility”) in Hobbs, New Mexico. The Lea County Facility was previously under contract with the New Mexico Corrections Department.

On July 17, 2025, ICE posted a Justification and Approval that notified the public of its intention to extend the Intensive Supervision Appearance Program (“ISAP”) contract for a period of 12 months to allow ICE to prepare for a new competitive procurement. On July 31, 2025, ICE and our wholly owned subsidiary, BI Incorporated, agreed to extend the ISAP contract through August 31, 2025, which we believe provides ICE additional time to extend the ISAP contract’s period of performance for six or twelve months, with possible further extensions.

On July 25, 2025, we completed the sale of our company-owned, 2,388-bed Lawton Correctional Facility (the “Lawton Facility”) in Lawton, Oklahoma to the State of Oklahoma for $312 million and simultaneously transitioned the Lawton Facility operations to the Oklahoma Department of Corrections.

On July 31, 2025, we used a portion of the net proceeds from the sale of the Lawton Facility to complete the previously announced purchase of the 770-bed Western Region Detention Facility in San Diego, California (the “San Diego Facility”) for approximately $60 million from SDCC Middle Block, LLC, an affiliate of Holland Partners Group. We previously leased the San Diego Facility for approximately $5.1 million annually. We have a long-standing contract with the U.S. Marshals Service for the exclusive use of the San Diego Facility, which generates approximately $57 million in annualized revenues.

Balance Sheet

At the end of the second quarter of 2025, our net debt totaled approximately $1.7 billion, and our net leverage was approximately 3.8 times Adjusted EBITDA. Subsequently, we completed an amendment to our Credit Agreement, increasing our Revolving Credit Facility (the “Revolver”) commitments from $310 million to $450 million; extending the Revolver’s maturity to July 14, 2030; and lowering the Revolver’s interest rate by 0.50% from the applicate rate prior to the amendment.

Prior to the execution of the Credit Agreement amendment, we had repaid $132 million of outstanding borrowings under our Term Loan B, and following the closing of the $312 million sale of the Lawton Facility, we used $222 million in net proceeds to pay off additional senior secured debt, including the remaining balance of our Term Loan B. As of today, our net debt totals approximately $1.47 billion and our net leverage is approximately 3.3 times Adjusted EBITDA.

Financial Guidance

Today, we updated our financial guidance for the full year 2025 and issued financial guidance for the third and fourth quarters of 2025. Consistent with our long-standing practice, our financial guidance does not include the impact of any new contract awards that have not been previously announced.

For the full year 2025, we expect Net Income Attributable to GEO to be in a range of $1.99 to $2.09 per diluted share, including a $228 million gain on the sale of the Lawton Facility, and Adjusted Net Income to be in a range $0.84 to $0.94 per diluted share, on revenues of approximately $2.56 billion and based on an effective tax rate of approximately 26 percent, inclusive of known discrete items. We expect full year 2025 Adjusted EBITDA to be between $465 million and $490 million.

We expect total Capital Expenditures for full year 2025 to be between $200 million and $210 million, which includes approximately $60 million for the purchase of the San Diego Facility.

For the third quarter 2025, we expect Adjusted Net Income to be in a range of $0.20 to $0.23 per diluted share, on quarterly revenues of $650 million to $660 million. We expect third quarter 2025 Adjusted EBITDA to be between $115 million and $125 million.

For the fourth quarter 2025, we expect Adjusted Net Income to be in a range of $0.28 to $0.35 per diluted share, on quarterly revenues of $658 million to $673 million. We expect fourth quarter 2025 Adjusted EBITDA to be between $132 million and $147 million.

Conference Call Information

We have scheduled a conference call and webcast for today at 11:00 AM (Eastern Time) to discuss our second quarter 2025 financial results as well as our outlook. The call-in number for the U.S. is 1-877-250-1553 and the international call-in number is 1-412-542-4145. In addition, a live audio webcast of the conference call may be accessed on the Webcasts section under the News, Events and Reports tab of GEO’s investor relations webpage at investors.geogroup.com. A replay of the webcast will be available on the website for one year. A telephonic replay of the conference call will be available through August 13, 2025, at 1-877-344-7529 (U.S.) and 1-412-317-0088 (International). The participant passcode for the telephonic replay is 2104307.

About The GEO Group

The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 97 facilities totaling approximately 74,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 19,000 employees.

Reconciliation Tables and Supplemental Information

GEO has made available Supplemental Information which contains reconciliation tables of Net Income Attributable to GEO to Adjusted Net Income, and Net Income to EBITDA and Adjusted EBITDA, along with supplemental financial and operational information on GEO’s business and other important operating metrics. The reconciliation tables are also presented herein.

Please see the section below titled “Note to Reconciliation Tables and Supplemental Disclosure – Important Information on GEO’s Non-GAAP Financial Measures” for information on how GEO defines these supplemental Non-GAAP financial measures and reconciles them to the most directly comparable GAAP measures. GEO’s Reconciliation Tables can be found herein and in GEO’s Supplemental Information available on GEO’s investor webpage at investors.geogroup.com.

Note to Reconciliation Tables and Supplemental Disclosure –
Important Information on GEO’s Non-GAAP Financial Measures

Adjusted Net Income, EBITDA, and Adjusted EBITDA are non-GAAP financial measures that are presented as supplemental disclosures. GEO has presented herein certain forward-looking statements about GEO’s future financial performance that include non-GAAP financial measures, including Net Debt, Net Leverage, and Adjusted EBITDA.

The determination of the amounts that are included or excluded from these non-GAAP financial measures is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income amounts recognized in a given period.

While we have provided a high level reconciliation for the guidance ranges for full year 2025, we are unable to present a more detailed quantitative reconciliation of the forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because management cannot reliably predict all of the necessary components of such GAAP measures.

The quantitative reconciliation of the forward-looking non-GAAP financial measures will be provided for completed annual and quarterly periods, as applicable, calculated in a consistent manner with the quantitative reconciliation of non-GAAP financial measures previously reported for completed annual and quarterly periods.

Net Debt is defined as gross principal debt less cash from restricted subsidiaries. Net Leverage is defined as Net Debt divided by Adjusted EBITDA.

EBITDA is defined as net income adjusted by adding provisions for income tax, interest expense, net of interest income, and depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted for loss on asset divestiture/impairment, pre-tax, net loss attributable to non-controlling interests, stock-based compensation expenses, pre-tax, litigation costs and settlements, pre-tax, start-up expenses, pre-tax, ATM equity program expenses, pre-tax, transaction fees, pre-tax, employee restructuring expenses, pre-tax, close-out expenses, pre-tax, other non-cash revenue and expenses, pre-tax, and certain other adjustments as defined from time to time.

Given the nature of our business as a real estate owner and operator, we believe that EBITDA and Adjusted EBITDA are helpful to investors as measures of our operational performance because they provide an indication of our ability to incur and service debt, to satisfy general operating expenses, to make capital expenditures, and to fund other cash needs or reinvest cash into our business.

We believe that by removing the impact of our asset base (primarily depreciation and amortization) and excluding certain non-cash charges, amounts spent on interest and taxes, and certain other charges that are highly variable from year to year, EBITDA and Adjusted EBITDA provide our investors with performance measures that reflect the impact to operations from trends in occupancy rates, per diem rates and operating costs, providing a perspective not immediately apparent from net income.

The adjustments we make to derive the non-GAAP measures of EBITDA and Adjusted EBITDA exclude items which may cause short-term fluctuations in income from continuing operations and which we do not consider to be the fundamental attributes or primary drivers of our business plan and they do not affect our overall long-term operating performance.

EBITDA and Adjusted EBITDA provide disclosure on the same basis as that used by our management and provide consistency in our financial reporting, facilitate internal and external comparisons of our historical operating performance and our business units and provide continuity to investors for comparability purposes.

Adjusted Net Income is defined as net income attributable to GEO adjusted for certain items which by their nature are not comparable from period to period or that tend to obscure GEO’s actual operating performance, including for the periods presented loss on asset divestiture/impairment, pre-tax, loss on the extinguishment of debt, pre-tax, litigation costs and settlements, pre-tax, start-up expenses, pre-tax, ATM equity program expenses, pre-tax, transaction fees, pre-tax, employee restructuring expenses, pre-tax, close-out expenses, pre-tax, discreet tax benefits, and tax effect of adjustments to net income attributable to GEO.

Safe-Harbor Statement

This press release contains forward-looking statements regarding future events and future performance of GEO that involve risks and uncertainties that could materially and adversely affect actual results, including statements regarding GEO’s financial guidance for third quarter, fourth quarter, and the full year of 2025, the $300 million share repurchase program authorized by GEO’s Board of Directors, the anticipated timing and annualized revenues related to the reactivation of certain facilities, the intrinsic value of GEO’s assets, the Company’s efforts to position itself to pursue unprecedented growth opportunities, and its management team’s focus on enhancing long-term value for shareholders through the disciplined allocation of capital. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” or “continue” or the negative of such words and similar expressions. Risks and uncertainties that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to: (1) GEO’s ability to meet its financial guidance for third quarter, fourth quarter, and full year 2025 given the various risks to which its business is exposed; (2) GEO’s ability to implement the $300 million share repurchase program authorized by GEO’s Board of Directors on the timeline it expects or at all; (3) GEO’s ability to deleverage and repay, refinance or otherwise address its debt maturities in an amount and on terms commercially acceptable to GEO, and on the timeline it expects or at all; (4) GEO’s ability to identify and successfully complete any potential sales of company-owned assets and businesses or potential acquisitions of assets or businesses on commercially advantageous terms on a timely basis, or at all; (5) changes in federal and state government policy, orders, directives, legislation and regulations that affect public-private partnerships with respect to secure, correctional and detention facilities, processing centers and reentry centers; (6) changes in federal immigration policy; (7) public and political opposition to the use of public-private partnerships with respect to secure correctional and detention facilities, processing centers and reentry centers; (8) any continuing impact of the COVID-19 global pandemic on GEO and GEO’s ability to mitigate the risks associated with COVID-19; (9) GEO’s ability to sustain or improve company-wide occupancy rates at its facilities; (10) fluctuations in GEO’s operating results, including as a result of contract activations, contract terminations, contract renegotiations, changes in occupancy levels and increases in GEO’s operating costs; (11) general economic and market conditions, including changes to governmental budgets and its impact on new contract terms, contract renewals, renegotiations, per diem rates, fixed payment provisions, and occupancy levels; (12) GEO’s ability to address inflationary pressures related to labor related expenses and other operating costs; (13) GEO’s ability to timely open facilities as planned, profitably manage such facilities and successfully integrate such facilities into GEO’s operations without substantial costs; (14) GEO’s ability to win management contracts for which it has submitted proposals and to retain existing management contracts; (15) risks associated with GEO’s ability to control operating costs associated with contract start-ups; (16) GEO’s ability to successfully pursue growth opportunities and continue to create shareholder value; (17) GEO’s ability to obtain financing or access the capital markets in the future on acceptable terms or at all; and (18) other factors contained in GEO’s Securities and Exchange Commission periodic filings, including its Form 10-K, 10-Q and 8-K reports, many of which are difficult to predict and outside of GEO’s control.

View full release here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250805042236/en/

Pablo E. Paez, (866) 301 4436
Executive Vice President, Corporate Relations

Source: The GEO Group, Inc.

MasterBrand and American Woodmark Announce $2.4 Billion Merger to Create Cabinet Industry Leader

Posted on August 6, 2025August 6, 2025 by slightbourne@noblecapitalmarkets.com

In a transformative move that will reshape the North American cabinet manufacturing landscape, MasterBrand Inc. and American Woodmark Corporation announced today a definitive all-stock merger agreement that creates a combined entity with a pro forma equity value of $2.4 billion and enterprise value of $3.6 billion.

Under the agreement, American Woodmark shareholders will receive 5.150 shares of MasterBrand common stock for each American Woodmark share they own. Upon completion, MasterBrand shareholders will control approximately 63% of the combined company, while American Woodmark shareholders will hold the remaining 37% on a fully diluted basis.

The transaction is expected to close in early 2026, pending shareholder approvals from both companies, regulatory clearances, and other customary closing conditions. Notably, the deal is structured as an all-stock transaction, though MasterBrand plans to arrange additional credit facilities to retire American Woodmark’s existing debt at closing.

The merger creates what the companies describe as “the cabinet industry’s most comprehensive portfolio of trusted brands and products.” The combination leverages complementary strengths: MasterBrand’s broad brand portfolio and American Woodmark’s streamlined manufacturing profile and strong customer relationships.

Financial projections are compelling. The combined entity expects to generate approximately $639 million in trailing 12-month adjusted EBITDA, including anticipated run-rate cost synergies of $90 million by the end of year three. These synergies will primarily come from procurement optimization, manufacturing network improvements, and administrative cost reductions. The deal is expected to be accretive to MasterBrand’s adjusted diluted earnings per share by year two.

The merger positions the combined company to better serve diverse customer segments across multiple channels. With MasterBrand’s existing network of over 7,700 dealers, major retailers, and builders, plus American Woodmark’s relationships with home centers and independent distributors, the enlarged entity will have unprecedented market reach.

Geographic expansion is another key benefit. The complementary footprints of both companies will provide access to high-growth markets while offering customers greater flexibility in purchasing options and enhanced support capabilities.

Dave Banyard, currently MasterBrand’s President and CEO, will lead the combined company, while David Petratis will serve as Board Chair. The integration will be overseen by Nathaniel Leonard, MasterBrand’s Executive Vice President of Corporate Strategy and Development. The combined entity will maintain its MasterBrand name and be headquartered in Beachwood, Ohio, while preserving a significant operational presence in Winchester, Virginia.

Importantly, American Woodmark’s board will contribute three directors to the expanded MasterBrand board, ensuring representation in governance decisions.

The merger creates a financially stronger entity with an anticipated net debt-to-adjusted EBITDA ratio below MasterBrand’s 2.0x target leverage at closing. This improved financial profile is expected to enhance free cash flow generation, provide greater resilience through market cycles, and enable increased investment in growth initiatives, automation, and technology.

Both companies emphasize their commitment to maintaining and growing their respective legacy brands, which have established trust with channel partners and consumers. The combination represents a strategic bet on the continued growth of the North American residential cabinet market and the companies’ ability to capture greater market share through expanded capabilities and improved operational efficiency.

This merger signals consolidation in the cabinet manufacturing industry as companies seek scale advantages and broader market reach to compete more effectively in an evolving marketplace.

Release – The ODP Corporation Announces Second Quarter 2025 Results

Posted on August 6, 2025August 6, 2025 by aweinsoff@channelchek.com

Research News and Market Data on ODP

PDF Version

Second Quarter Revenue of $1.6 Billion with GAAP EPS of $0; Adjusted EPS of $0.51

GAAP Operating Income of $9 Million; Net Income of $0; Operating Cash Flow of $16 Million

Adjusted EBITDA of $47 Million; Adjusted Free Cash Flow of $13 Million

B2B Distribution and Consumer Divisions Drove Improved Performance Trends

Progress on Long-Term Growth Initiatives

Provides Additional Guidance for 2025

BOCA RATON, Fla.–(BUSINESS WIRE)–Aug. 6, 2025– The ODP Corporation (“ODP,” or the “Company”) (NASDAQ:ODP), a leading provider of products, services, and technology solutions to businesses and consumers, today announced results for the second quarter ended June 28, 2025.

Consolidated (in millions, except per share amounts)	2Q25	2Q24	YTD25	YTD24
Selected GAAP and Non-GAAP measures:
Sales	$1,586	$1,717	$3,286	$3,586
Sales change from prior year period	*(8)%*		*(8)%*
Operating income (loss)	$9	$0.4	$(23)	$41
Adjusted operating income⁽¹⁾	$25	$33	$79	$100
Net income (loss) from continuing operations	$—	$(4)	$(29)	$27
Diluted earnings (loss) per share from continuing operations	$—	$(0.12)	$(0.97)	$0.73
Adjusted net income from continuing operations⁽¹⁾	$15	$20	$47	$70
Adjusted earnings per share from continuing operations (fully diluted) ⁽¹⁾	$0.51	$0.56	$1.57	$1.89
Adjusted EBITDA⁽¹⁾	$47	$57	$123	$147
Operating Cash Flow from continuing operations	$16	$(1)	$73	$43
Free Cash Flow ⁽²⁾	$4	$(20)	$39	$(7)
Adjusted Free Cash Flow⁽³⁾	$13	$5	$58	$22

Second Quarter 2025 Summary⁽¹⁾⁽³⁾

Total reported sales of $1.6 billion, down 8% versus the prior year period on a reported basis. The decrease in reported sales is largely related to lower sales in its Office Depot Division, primarily due to 60 fewer retail locations in service compared to the previous year and reduced retail and online consumer traffic, as well as lower sales in its ODP Business Solutions Division, despite improving year-over-year comparable revenue trends
GAAP operating income of $9 million versus $400 thousand in the prior year period. Net income from continuing operations and net diluted earnings per share was break even in the second quarter of 2025 compared to net loss from continuing operations of $4 million, or $(0.12) per diluted share, in the prior year period. GAAP operating results in the second quarter of 2025 included $16 million of charges of which $12 million is related to the Company’s Optimize for Growth restructuring plan
Adjusted operating income of $25 million, compared to $33 million in the second quarter of 2024; adjusted EBITDA of $47 million, compared to $57 million in the second quarter of 2024
Adjusted net income from continuing operations of $15 million, or adjusted diluted earnings per share from continuing operations of $0.51, versus $20 million or $0.56, respectively, in the prior year period
Operating cash flow from continuing operations of $16 million and adjusted free cash flow of $13 million, versus $(1) million and $5 million, respectively, in the prior year period
$658 million of total available liquidity including $177 million in cash and cash equivalents at quarter end

“Our team’s disciplined execution and focus on operational excellence resulted in another quarter of improved performance,” said Gerry Smith, Chief Executive Officer of The ODP Corporation. “During the quarter, we drove improved revenue trends and delivered solid operating results, highlighted by stronger adjusted free cash flow generation. These results reflect ongoing improvements across both our consumer and B2B businesses.”

“In our consumer segment, we meaningfully improved same-store sales trends versus last year, underscoring the effectiveness of our targeted sales strategies and strong value proposition. Meanwhile, in our B2B distribution business, we achieved approximately a 200-basis point improvement in year-over-year revenue trends, driven by stronger sales traction with new customers and early contributions from our expansion into the hospitality sector. Sales trends improved month over month throughout the quarter, improving our position as we head into the second half of the year.”

“On a consolidated basis, our strong performance resulted in solid adjusted EBITDA and drove adjusted free cash flow more than double last year’s level, further strengthening our balance sheet.”

“As we look to the second half of the year, we remain confident in our ability to drive continued improvement and value creation. We expect continued strength in performance in our consumer segment while driving improved revenue trends in our B2B distribution business, as we continue to onboard new customers and begin to penetrate the hospitality segment. Additionally, with our strong focus on cash, we expect to generate significantly higher adjusted free cash flow versus last year, further strengthening our foundation and balance sheet. We remain committed to executing our core strategy and delivering long-term shareholder value,” Smith added.

Consolidated Results

Reported (GAAP) Results
Total reported sales for the second quarter of 2025 were $1.6 billion, an 8% decrease compared to the same period last year, primarily reflecting lower sales in both the consumer and business-to-business (B2B) divisions. The decline in the consumer division, Office Depot, was mainly driven by 60 fewer stores in operation due to planned closures, as well as reduced retail and online consumer traffic. On a comparable store basis, sales declined 5%, representing a meaningful improvement over the 7% decrease in the prior year period. In the ODP Business Solutions Division, sales declined 6% year-over-year, primarily reflecting ongoing macroeconomic headwinds and softer enterprise spending. However, sales trends improved by approximately 200 basis points both sequentially and year-over-year, indicating positive momentum in the business. Veyer continued to deliver strong logistical support for both the ODP Business Solutions and Office Depot divisions despite lower internal sales volume, while also advancing its growth strategy by providing supply chain and procurement solutions to third-party customers and driving increases in external revenue.

The Company reported GAAP operating income of $9 million in the second quarter of 2025, up compared to $400 thousand in the prior year period. Operating results in the second quarter of 2025 included $16 million of charges primarily related to $13 million in restructuring expenses largely associated with the Optimize for Growth restructuring plan, $2 million in non-cash asset impairments of operating lease right-of-use (“ROU”) assets associated with the Company’s retail store locations, and $1 million related to the impairment of operating lease ROU assets associated with the Company’s supply chain facilities. Net income from continuing operations and net diluted earnings per share were break even in the second quarter of 2025, up compared to net loss from continuing operations of $4 million, or $(0.12) per diluted share in the second quarter of 2024.

Adjusted (non-GAAP) Results⁽¹⁾Adjusted results for the second quarter of 2025 exclude charges and credits totaling $16 million as described above and the associated tax impacts.

Second quarter 2025 adjusted EBITDA was $47 million compared to $57 million in the prior year period. This included adjusted depreciation and amortization of $24 million in both the second quarter of 2025 and 2024
Second quarter 2025 adjusted operating income was $25 million, down compared to $33 million in the second quarter of 2024
Second quarter 2025 adjusted net income from continuing operations was $15 million, or $0.51 per diluted share, compared to $20 million, or $0.56 per diluted share, in the second quarter of 2024, a decrease of 9% on a per share basis

Division Results

ODP Business Solutions Division
Leading B2B distribution solutions provider serving small, medium and enterprise level companies with an annual trailing-twelve-month revenue of $3.5 billion.

Reported sales for the second quarter of 2025 were $859 million, a decrease of 6% year-over-year. This result reflects an improvement in revenue trends, despite ongoing macroeconomic challenges and continued softness in enterprise demand. Sequential and year-over-year revenue trends improved by about 200 basis points, driven by ODP Business Solutions’ success in onboarding new customers, executing targeted sales initiatives, and generating incremental growth in hospitality categories
Total adjacency category sales, including cleaning and breakroom, furniture, technology, and copy and print, were 45% of total ODP Business Solutions’ sales, representing an increase over the same period last year
Delivered significant progress on long-term growth initiatives, accelerating expansion into new market sectors. Achieved substantial sales growth in Operating, Supplies & Equipment (OS&E) categories within the hospitality business and expanded presence in new markets helping drive increased demand for traditional product categories. Onboarded approximately one thousand new hotel properties as customers through the Company’s existing hospitality agreement. Made meaningful progress on potential new agreements with several leading hospitality management companies
Successfully attracted new enterprise customers and continuing to build upon large pipeline for future growth, both in traditional and new industry sectors
Operating income was $18 million in the second quarter of 2025, down compared to $29 million in the same period last year on a reported basis. EBITDA was $24 million, or 3% on a percentage of sales basis

Office Depot Division
Leading provider of retail consumer and small business products and services distributed via Office Depot and OfficeMax retail locations and eCommerce presence.

Reported sales were $716 million in the second quarter of 2025, down 10% year-over-year, reflecting an improvement over prior year trends. Sales were impacted by 60 fewer retail locations due to planned store closures, lower demand in certain product categories, and reduced online sales. Comparable store sales declined 5%, a meaningful improvement versus the 7% decrease in the prior year period, as targeted, profitable sales strategies gained traction. The Company closed 23 retail stores during the quarter, ending with 834 retail locations
Store and online traffic were lower year-over-year due to macroeconomic factors. However, targeted sales promotions resulted in higher average order volumes and sales per shopper, strengthening top-line results and margins
Operating income was $12 million in the second quarter of 2025, compared to $17 million during the same period last year on a reported basis, driven primarily by the flow through impact from fewer stores in service and lower sales volume. As a percentage of sales, operating income was 2%, flat with the same period last year

Veyer Division
Nationwide supply chain, distribution, procurement and global sourcing operation supporting Office Depot and ODP Business Solutions, as well as third-party customers. Veyer’s assets and capabilities include 8 million square feet of infrastructure through a network of distribution centers, cross-docks, and other facilities throughout the United States; a global sourcing presence in Asia; a large private fleet of vehicles; and business next-day delivery capabilities to 98.5% of U.S. population.

In the second quarter of 2025, Veyer provided support for its internal customers, ODP Business Solutions and Office Depot, as well as its third-party customers, generating reported sales of $1.1 billion
Reported operating income was $10 million in the second quarter of 2025, compared to $5 million in the prior year period
Growing new customer prospects resulting in expanded new business pipeline potential
In the second quarter of 2025, sales generated from third-party customers increased by 90% compared to the same period last year, resulting in sales of $19 million. EBITDA generated from third-party customers was $5 million in the quarter, an increase of 32% compared with the prior year period

Balance Sheet and Cash Flow

As of June 28, 2025, ODP had total available liquidity of $658 million, consisting of $177 million in cash and cash equivalents and $481 million of available credit under the Fourth Amended Credit Agreement. Total debt was $245 million.

For the second quarter of 2025, cash provided by operating activities of continuing operations increased to $16 million, which included $9 million in restructuring spend, compared to cash used by operating activities of continuing operations of $1 million in the second quarter of the prior year, which included $25 million in restructuring spend. The year-over-year increase in operating cash flow is primarily related to operational discipline including strong cash conversion, as well as prudent working capital management helping to offset the impact of lower sales.

Capital expenditures were $12 million in the second quarter of 2025 versus $19 million in the prior year period, as the Company continued to prioritize capital investments towards B2B growth opportunities supporting its supply chain operations, distribution network, and digital capabilities. Adjusted Free Cash Flow⁽³⁾ was $13 million in the second quarter of 2025, up compared to $5 million in the prior year period.

“Our team’s focus on operational discipline and cash conversion helped us generate $13 million in adjusted free cash flow for the quarter—a 160% increase over last year,” said Adam Haggard, co-CFO of The ODP Corporation. “The changes we are making to our business model have resulted in stronger cash generation year-to-date and have helped us pay down approximately $35 million in debt so far this year, further strengthening our balance sheet. We remain committed to disciplined capital allocation in our core business, while pursuing higher growth opportunities in our traditional segments and in attractive new industries like hospitality. We are also sharpening our focus on inventory management opportunities which we expect will enhance future cash generation. We believe this strategy positions ODP to maximize cash flow and provides a pathway for long term sustainable growth and value creation.”

Hospitality Industry Progress

As previously announced, ODP Business Solutions has formed a strategic partnership with one of the world’s largest hotel management organizations, becoming a preferred provider for OS&E. This agreement positions ODP as a reliable distribution partner, supporting the recurring in-room hotel supply needs of its over 15,000 members. This partnership underscores ODP’s evolution beyond office supplies and highlights its ability to deliver tailored solutions to businesses in the hospitality, healthcare, and adjacent sectors.

The Company continues to make solid progress in expanding its presence within the hospitality sector, leveraging strategic relationships with leading suppliers, including Sobel Westex and Hunter Amenities, broadening access to a diverse range of premium products and elevating service for hospitality clients. During the quarter, ODP Business Solutions added key leadership and sales talent with significant prior hospitality experience and success. Additionally, the Company onboarded approximately one thousand new properties under its current agreement, which will help drive longer term growth. In the initial phase of its launch, the Company is seeing solid early demand for its OS&E product offering, resulting in robust month-over-month growth in hospitality categories in the quarter. Furthermore, the expanded product assortment is driving increased sales of traditional office products among hospitality customers.

The Company is also actively engaged in discussions with several additional major hospitality organizations to become a primary supplier of OS&E products for both company-owned and franchised locations.

“We are very encouraged by the early momentum we are seeing as we enter the hospitality market segment,” said Gerry Smith. “Our progress demonstrates strong demand for our hospitality solutions and the high-touch, reliable service that supports them. Furthermore, this expanded offering is driving increased interest in our traditional office products among hospitality customers. We are rapidly onboarding new customers in this segment and are actively pursuing opportunities to further expand our reach in the sector, making progress on discussions with several additional leading hospitality management companies. We believe the progress we are making will be reflected in our future results and will further strengthen our foundation for long-term, profitable growth.”

“Optimize for Growth” B2B Revenue Acceleration Plan

In the second quarter of 2025, the Company advanced its “Optimize for Growth” restructuring plan, an initiative aimed at reducing fixed-cost infrastructure while leveraging core strengths to accelerate growth in B2B market segments. This includes expansion into new enterprise verticals such as hospitality, healthcare, and other adjacent sectors.

In connection with this plan in the second quarter of 2025, the Company recognized $12 million of restructuring expense primarily related to severance costs and the closure of 23 retail stores, three distribution facilities, and one satellite location. In total, over the multi-year life of the plan, the Company expects to incur costs in the range of $185 million to $230 million, which we anticipate will generate approximately $380 million in EBITDA improvement and generate over $1.3 billion in total value.

Commentary Regarding 2025 Outlook

For the second half of the year, the Company expects to deliver continued improvement in performance, driven by:

Top-line trend improvement at ODP Business Solutions in the second half of 2025, driven by improved performance in traditional product categories and expansion into hospitality
Continued robust results in the consumer business, Office Depot, supporting strong cash generation throughout the second half of the year
Generation of over $115 million in adjusted free cash flow for the full year 2025, as the Company executes its strategy and sharpens its focus on working capital management

Estimated Adjusted Free Cash Flow for the full year 2025 is a non-GAAP measure. This measure excludes charges not indicative of core operations, such as cash charges associated with its Optimize for Growth plan and other significant items that currently cannot be predicted without unreasonable efforts. The exact amount of these charges are not currently determinable but may be significant. Accordingly, the Company is unable to provide an equivalent GAAP measure or reconciliations from GAAP to non-GAAP for Adjusted Free Cash Flow for the full year 2025.

“We are encouraged by our improved performance and progress in the first half of the year and we remain optimistic about driving further improvements to areas of our business in the second half,” added Smith. “Our outlook considers stable macroeconomic and business conditions. Additionally, while we are not immune from changes in the evolving tariff landscape, we believe that we are well positioned to adjust as necessary to limit potential impacts to our business.”

“We remain committed to executing our core strategy and capitalizing on the many opportunities ahead. By leveraging our strong asset base, we are driving growth in our core B2B business and expanding into higher-growth industries such as hospitality. At the same time, we are maximizing value and cash generation in our consumer business and reducing our fixed cost infrastructure, which we expect will positively impact margins in future years. Overall, we are strengthening our foundation and improving our positioning to drive future profitable growth and cash flow generation,” Smith added.

The ODP Corporation will webcast a call with financial analysts and investors on August 6, 2025, at 9:00 am Eastern Time, which will be accessible to the media and the general public. To listen to the conference call via webcast, please visit The ODP Corporation’s Investor Relations website at investor.theodpcorp.com. A replay of the webcast will be available approximately two hours following the event.

(1)		As presented throughout this release, adjusted results represent non-GAAP financial measures and exclude charges or credits not indicative of core operations and the tax effect of these items, which may include but not be limited to merger integration, restructuring, acquisition costs, and asset impairments. Reconciliations from GAAP to non-GAAP financial measures can be found in this release as well as on the Company’s Investor Relations website at investor.theodpcorp.com.
(2)		As used in this release, Free Cash Flow is defined as cash flows from operating activities less capital expenditures and changes in restricted cash. Free Cash Flow is a non-GAAP financial measure and reconciliations from GAAP financial measures can be found in this release as well as on the Company’s Investor Relations website at investor.theodpcorp.com.
(3)		As used in this release, Adjusted Free Cash Flow is defined as Free Cash Flow excluding cash charges associated with the Company’s restructuring programs, and related expenses. Adjusted Free Cash Flow is a non-GAAP financial measure and reconciliations from GAAP financial measures can be found in this release as well as on the Company’s Investor Relations website at investor.theodpcorp.com.

About The ODP Corporation

The ODP Corporation (NASDAQ:ODP) is a leading provider of products, services and technology solutions through an integrated business-to-business (B2B) distribution platform and omni-channel presence, which includes supply chain and distribution operations, dedicated sales professionals, online presence, and a network of Office Depot and OfficeMax retail stores. Through its operating companies ODP Business Solutions, LLC; Office Depot, LLC; and Veyer, LLC, The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com.

ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Office Depot is a trademark of The Office Club, LLC. OfficeMax is a trademark of OMX, Inc. Veyer is a trademark of Veyer, LLC. Grand&Toy is a trademark of Grand & Toy, LLC in Canada. ©2025 Office Depot, LLC. All rights reserved. Any other product or company names mentioned herein are the trademarks of their respective owners.

FORWARD LOOKING STATEMENTS
This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations, cash flow or financial condition, or state other information relating to, among other things, the Company, based on current beliefs and assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “expectations”, “outlook,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” or other similar words, phrases or expressions, or other variations of such words. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of the Company’s control. There can be no assurances that the Company will realize these expectations or that these beliefs will prove correct, and therefore investors and stakeholders should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, highly competitive office products market and failure to differentiate the Company from other office supply resellers or respond to decline in general office supplies sales or to shifting consumer demands; competitive pressures on the Company’s sales and pricing; the risk that the Company is unable to transform the business into a service-driven, B2B platform or that such a strategy will not result in the benefits anticipated; the risk that the Company will not be able to achieve the expected benefits of its strategic plans, including charges and benefits related to Optimize for Growth, Project Core and other strategic restructurings or initiatives; the risk that the Company may not be able to realize the anticipated benefits of acquisitions due to unforeseen liabilities, future capital expenditures, expenses, indebtedness and the unanticipated loss of key customers or the inability to achieve expected revenues, synergies, cost savings or financial performance; failure to effectively manage the Company’s real estate portfolio; loss of business with government entities, purchasing consortiums, and sole- or limited- source distribution arrangements; failure to attract and retain qualified personnel, including employees in stores, service centers, distribution centers, field and corporate offices and executive management, and the inability to keep supply of skills and resources in balance with customer demand; failure to execute effective advertising efforts and maintain the Company’s reputation and brand at a high level; disruptions in computer systems, including delivery of technology services; breach of information technology systems affecting reputation, business partner and customer relationships and operations and resulting in high costs and lost revenue; unanticipated downturns in business relationships with customers or terms with the suppliers, third-party vendors and business partners; disruption of global sourcing activities, evolving foreign trade policy (including tariffs imposed on certain foreign made goods); exclusive Office Depot branded products are subject to additional product, supply chain and legal risks; product safety and quality concerns of manufacturers’ branded products and services and Office Depot private branded products; covenants in the credit facility; general disruption in the credit markets; incurrence of significant impairment charges; retained responsibility for liabilities of acquired companies; fluctuation in quarterly operating results due to seasonality of the Company’s business; changes in tax laws in jurisdictions where the Company operates; increases in wage and benefit costs and changes in labor regulations; changes in the regulatory environment, legal compliance risks and violations of the U.S. Foreign Corrupt Practices Act and other worldwide anti-bribery laws; volatility in the Company’s common stock price; changes in or the elimination of the payment of cash dividends on Company common stock; macroeconomic conditions such as higher interest rates and future declines in business or consumer spending; increases in fuel and other commodity prices and the cost of material, energy and other production costs, or unexpected costs that cannot be recouped in product pricing; unexpected claims, charges, litigation, dispute resolutions or settlement expenses; catastrophic events, including the impact of weather events on the Company’s business; the discouragement of lawsuits by shareholders against the Company and its directors and officers as a result of the exclusive forum selection of the Court of Chancery, the federal district court for the District of Delaware or other Delaware state courts by the Company as the sole and exclusive forum for such lawsuits; and the impact of the COVID-19 pandemic on the Company’s business. The foregoing list of factors is not exhaustive. Investors and shareholders should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. The Company does not assume any obligation to update or revise any forward-looking statements.

View full release here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250806208145/en/

Tim Perrott
Investor Relations
561-438-4629
Tim.Perrott@theodpcorp.com

Source: The ODP Corporation

Release – Conduent Announces Board Leadership Transition

Posted on August 6, 2025August 6, 2025 by aweinsoff@channelchek.com

Research news and Market Data on CNDT

August 06, 2025

Corporate

Harsha V. Agadi Named Chairman, Succeeds Scott Letier

FLORHAM PARK, N.J. — Conduent Incorporated (Nasdaq: CNDT), a global technology-driven business solutions and services company, today announced the appointment of Harsha V. Agadi as Chairman of its Board of Directors, effective August 6. He succeeds Scott Letier, who now chairs the Board’s Audit Committee.

Mr. Agadi joined Conduent’s Board in 2025 and previously led its Audit Committee. Mr. Letier has served as a director since 2018 and as Chairman since 2021. These leadership changes are part of the Board’s practice of rotating board roles and commitment to strategic governance, as noted in the company’s Form 8-K filing on June 25.

“We’re pleased to welcome Harsha to the role of Chairman,” said Cliff Skelton, President and CEO of Conduent. “His leadership and global business experience will be invaluable as we continue driving value for shareholders, clients, and associates. We also thank Scott for his significant contributions and leadership as Chairman during a period of transformation and growth.”

Mr. Agadi, Chairman and CEO of GHS Holdings, LLC, brings over 35 years of experience in executive leadership and corporate governance across multiple industries in Public and Private companies.

“I’m honored to take on this role and grateful for the trust of my fellow Board members,” said Mr. Agadi. “I’m impressed with Conduent’s progress and its management team’s dedication to transform Conduent, and I look forward to working closely with the Conduent team to continue to advance our strategy and deliver meaningful impact for our stakeholders.”

About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government, and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation, and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 56,000 associates, process expertise, and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies, and reduce costs. Conduent adds momentum to its clients’ missions in various ways, including disbursing approximately $85 billion in government payments annually, facilitating 2.3 billion customer service interactions, empowering millions of employees through HR services each year, and processing nearly 13 million tolling transactions daily. Learn more at www.conduent.com.

Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives, and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent, or http://www.facebook.com/Conduent.

Trademarks
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.

Media Contacts

Sean Collins

Conduent

Sean.Collins2@conduent.com

+1-310-497-9205

David Chen

Conduent

ir@conduent.com

Release – Conduent Reports Second Quarter 2025 Financial Results

Posted on August 6, 2025August 6, 2025 by aweinsoff@channelchek.com

Research News and Market Data on CNDT

August 06, 2025

Earnings/Financial

Key Q2 2025 Highlights

Revenue and Adj. Revenue(1): $754M
Pre-tax Income (Loss): $(38)M
Adj. EBITDA Margin(1): 4.9%
New Business Signings ACV(2): $150M
Net ARR Activity Metric(2) (TTM): $63M

FLORHAM PARK, N.J., Aug. 06, 2025 — Conduent Incorporated (Nasdaq: CNDT), a global technology-led business process solutions and services company, today announced its second quarter 2025 financial results.

Cliff Skelton, Conduent President and Chief Executive Officer, stated, “Q2 marks another quarter of progress on our journey. We exceeded expectations for Adjusted EBITDA and Adjusted EBITDA margin. Q2 Revenue was in line with guidance and while often affected by seasonality and economic conditions, was slightly higher sequentially. New business signings improved both year-over-year and sequentially, supported by a robust pipeline. Notably, our investments in technology platforms and client relationships are resulting in accelerated performance in our Transportation segment. Furthermore, government and legislative decisions may unlock additional opportunities for our Government segment. As we’ve shared previously, our portfolio rationalization efforts will continue and are expected to positively impact our margin and cash flow. These efforts also narrow the focus for our leaders, many of whom recently joined Conduent, bringing with them industry experience from well-regarded companies.”

Skelton continued, “We are pleased to welcome our new Chairman of the Board, Harsha Agadi, who, with his wealth of experience, assumes this role at a critical strategic juncture as we pivot to growth and address the next round of portfolio opportunities. We also extend our gratitude to Scott Letier for his several years as Chairman. Scott’s leadership and mentorship have been invaluable, and he will retain important positions on the Board going forward. Looking ahead, the Board and Management remain confident in our strategy, momentum and ability to execute.”

Key Financial Q2 2025 Results

($ in millions, except margin and per share data)	Q2 2025	Q2 2024	Current Quarter Y/Y B/(W)
Revenue	$754	$828	(8.9)%
Adjusted Revenue⁽¹⁾	$754	$774	(2.6)%
GAAP Net Income (Loss)	$(40)	$216	n/m
Adjusted EBITDA⁽¹⁾	$37	$24	54.2%
Adjusted EBITDA Margin⁽¹⁾	4.9%	3.1%	180 bps
GAAP Income (Loss) Before Income Tax	$(38)	$300	n/m
GAAP Diluted EPS	$(0.26)	$1.07	n/m
Adjusted Diluted EPS⁽¹⁾	$(0.13)	$(0.14)	7.1%
Cash Flow from Operating Activities	$(15)	$(41)	63.4%
Adjusted Free Cash Flow⁽¹⁾	$(30)	$(55)	45.5%

Performance Commentary
Conduent’s liquidity position at the end of the quarter remained strong, and the $550 million revolving credit facility is largely undrawn.

Pre-tax income (loss) for the second quarter of 2025 was $(38) million versus $300 million in the prior year period. This decrease is primarily caused by the divestiture-driven gain on the transfer of the BenefitWallet portfolio and the sale of the Curbside Management and Public Safety businesses in the prior year period.

Q2 2025 Adjusted EBITDA of $37 million and Adjusted EBITDA Margin of 4.9% both increased versus the prior year period and exceeded expectations.

In the second quarter of 2025, Conduent repurchased approximately 2.7 million shares of common stock.

Additional Q2 2025 Performance Highlights

Expanded finance and procurement solutions leveraging Fairmarkit’s AI-Powered Technologies including GenAI. The collaboration is designed to optimize procurement workflows and complement Conduent’s FastCap® Finance Analytics, which improves financial performance by identifying cost-saving opportunities within procurement and spend management;
Implemented a technology feature that allows SNAP recipients to lock and unlock their EBT accounts using Conduent’s ConnectEBT mobile app and cardholder portal, giving beneficiaries greater control and helping to prevent fraud for a 12th U.S. state;
Named Supplier of the Year by General Motors for the fourth time, which recognizes global suppliers for their execution across key categories such as safety, innovation and resilience;
Recognized as a Leader in two 2025 NelsonHall Vendor Evaluation & Assessment Tools (NEAT) reviews focused on HR & Talent Transformation services for Benefits Administration & Experience-Led HR Transformation;
Named a Newsweek 2025 Top 100 Global Most Loved Workplace, marking Conduent’s third consecutive appearance among the Top 100 companies worldwide; and
Implemented a new EMV (Europay, Mastercard, and Visa) contactless fare collection system for Gestione Governativa Navigazione Laghi in Italy, one of the first EMV contactless systems deployed for boat transportation in the country.

FY 2025 Outlook(3)

	FY 2024 Actuals	FY 2025 Outlook⁽³⁾

Adj. Revenue⁽¹⁾	$3,176M	$3,100M – $3,200M

Adj. EBITDA⁽¹⁾ / Adj. EBITDA Margin⁽¹⁾	$124M / 3.9%	5.0% – 5.5%

(1) Refer to Appendix for definition and complete non-GAAP reconciliations of Adjusted Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Diluted EPS and Adjusted Free Cash Flow.
(2) Refer to Appendix for definition.
(3) Refer to Appendix for additional information regarding non-GAAP outlook.

Conference Call
Management will present the results during a conference call and webcast on August 6, 2025 at 9:00 a.m. ET.

The call will be available by live audio webcast along with the news release and online presentation slides at https://investor.conduent.com/.

The conference call will also be available by calling 877-407-4019 toll-free. If requested, the conference ID for this call is 13754400.

The international dial-in is 1-201-689-8337. The international conference ID is also 13754400.

A recording of the conference call will be available by calling 1-877-660-6853 three hours after the conference call concludes. The replay ID is 13754400.

The telephone recording will be available until Aug 20, 2025.

About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 53,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $85 billion in government payments annually, enabling approximately 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing over 13 million tolling transactions every day. Learn more at www.conduent.com.

Non-GAAP Financial Measures
We have reported our financial results in accordance with accounting principles generally accepted in the U.S. (U.S. GAAP). In addition, we have discussed our financial results using non-GAAP measures. We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. Accordingly, we believe it is necessary to adjust several reported amounts, determined in accordance with U.S. GAAP, to exclude the effects of certain items as well as their related tax effects. Management believes that these non-GAAP financial measures provide an additional means of analyzing the results of the current period against the corresponding prior period. However, these non-GAAP financial measures should be viewed in addition to, and not as a substitute for, our reported results prepared in accordance with U.S. GAAP. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable U.S. GAAP measures and should be read only in conjunction with our Consolidated Financial Statements prepared in accordance with U.S. GAAP. Our management regularly uses our non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. Providing such non-GAAP financial measures to investors allows for a further level of transparency as to how management reviews and evaluates our business results and trends. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on certain of these non-GAAP measures. Refer to the “Non-GAAP Financial Measures” section attached to this release for a discussion of these non-GAAP measures and their reconciliation to the reported U.S. GAAP measures.

Forward-Looking Statements

This press release, any exhibits or attachments to this release, and other public statements we make may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “estimate,” “expect,” “expectations,” “in front of us,” “plan,” “intend,” “will,” “aim,” “should,” “could,” “forecast,” “target,” “may,” “continue to,” “looking to continue,” “endeavor,” “if,” “growing,” “projected,” “potential,” “likely,” “see,” “ahead,” “further,” “going forward,” “on the horizon,” “as we progress,” “going to,” “path from here forward,” “think,” “path to deliver,” “from here,” “on track,” “remain” and similar expressions (including the negative and plural forms of such words and phrases), as they relate to us, are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements other than statements of historical fact included in this press release or any attachment to this press release are forward-looking statements, including, but not limited to, statements regarding our financial results, condition and outlook; changes in our operating results; general market and economic conditions; and our projected financial performance, including all statements made under the section captioned “FY 2025 Outlook” within this release. These statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, many of which are outside of our control, that could cause actual results to differ materially from those expected or implied by such forward-looking statements contained in this press release, any exhibits to this press release and other public statements we make.

Important factors and uncertainties that could cause our actual results to differ materially from those in our forward-looking statements include, but are not limited to: government appropriations and termination rights contained in our government contracts, the competitiveness of the markets in which we operate and our ability to renew commercial and government contracts, including contracts awarded through competitive bidding processes; our ability to recover capital and other investments in connection with our contracts; our reliance on third-party providers; risk and impact of geopolitical events and increasing geopolitical tensions (such as the war in the Ukraine and conflict in the Middle East), macroeconomic conditions, natural disasters and other factors in a particular country or region on our workforce, customers and vendors; our ability to deliver on our contractual obligations properly and on time; changes in interest in outsourced business process services; claims of infringement of third-party intellectual property rights; our ability to estimate the scope of work or the costs of performance in our contracts; the loss of key senior management and our ability to attract and retain necessary technical personnel and qualified subcontractors; our failure to develop new service offerings and protect our intellectual property rights; our ability to modernize our information technology infrastructure and consolidate data centers; expectations relating to environmental, social and governance considerations; utilization of our stock repurchase program; risks related to our use of artificial intelligence; the failure to comply with laws relating to individually identifiable information and personal health information; the failure to comply with laws relating to processing certain financial transactions, including payment card transactions and debit or credit card transactions; breaches of our information systems or security systems or any service interruptions; risks related to hacking or other cybersecurity threats to our data systems, information systems and network infrastructure and other service interruptions, including relating to the previously disclosed cyber event that took place in January 2025, including Conduent’s investigation of such incident and mitigation and remediation efforts, the nature and extent of such incident, the potential disruption to our business or operations, the potential impact on Conduent’s reputation, and Conduent’s assessments of the likely financial and operational impacts of such incident; our ability to comply with data security standards; developments in various contingent liabilities that are not reflected on our balance sheet, including those arising as a result of being involved in a variety of claims, lawsuits, investigations and proceedings; risks related to recently completed divestitures including (i) the transfer of the Company’s BenefitWallet’s health savings account, medical savings account and flexible spending account portfolio, (ii) the sale of the Company’s Curbside Management and Public Safety Solutions businesses and (iii) the sale of the Company’s Casualty Claims Solutions business, including but not limited to the Company’s ability to realize the benefits anticipated from such transactions, unexpected costs, liabilities or delays in connection with such transactions, and the significant transaction costs associated with such transactions; risk and impact of potential goodwill and other asset impairments; our significant indebtedness and the terms of such indebtedness; our failure to obtain or maintain a satisfactory credit rating and financial performance; our ability to obtain adequate pricing for our services and to improve our cost structure; our ability to collect our receivables, including those for unbilled services; a decline in revenues from, or a loss of, or a reduction in business from or failure of significant clients; fluctuations in our non-recurring revenue; increases in the cost of voice and data services or significant interruptions in such services; our ability to receive dividends or other payments from our subsidiaries; and other factors that are set forth in the “Risk Factors” section, the “Legal Proceedings” section, the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section and other sections in our 2024 Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. Any forward-looking statements made by us in this release speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether because of new information, subsequent events or otherwise, except as required by law.

View full release here.

Media Contacts

Sean Collins

Conduent

Sean.Collins2@conduent.com

+1-310-497-9205

David Chen

Conduent

ir@conduent.com

Release – Century Lithium’s Angel Island Added to FAST-41 Transparency Status

Posted on August 6, 2025August 6, 2025 by aweinsoff@channelchek.com

Research News and Market Data on CYDVF

August 6, 2025 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company”) is pleased to announce that the Company’s wholly-owned lithium project, Angel Island, in Esmeralda County, Nevada, was added to the Federal Permitting Dashboard for FAST-41 transparency status by the US Federal Permitting Improvement Steering Council (“Permitting Council”). Century Lithium’s Angel Island, Uranium Energy Corporation’s Sweetwater Project, and The Doe Run Company’s Doe Run Project, join 28 other critical mineral mining projects on the Federal Permitting Dashboard since President Trump’s March 20, 2025, Executive Order 14241 “Immediate Measures to Increase American Mineral Production”.

“The addition of Angel Island to the Federal Permitting Dashboard is a meaningful step and we are thankful for the Permitting Council’s selection” said Bill Willoughby, Century Lithium President and CEO. “Projects on the Federal Permitting Dashboard with transparency status receive the visibility that is at the core of FAST-41, delivering an efficient and accountable process through permitting.”

Emily Domenech, Executive Director of the Federal Permitting Improvement Steering Council added:

“I am excited to welcome Century Lithium Corporation’s Angel Island Project to FAST-41 Transparency Status. This Administration has made it a top priority to utilize the Transparency Dashboard and advance projects such as Angel Island, where they will be mining some of the largest sedimentary lithium deposits in the country. I look forward to working with Century Lithium to promote this new era of American energy dominance.”

Key highlights of the Angel Island Lithium Project:

Angel Island hosts one of the largest sedimentary lithium deposits in the United States
One of a few advanced lithium projects in development in the United States to provide an end-to-end process to produce battery-grade lithium carbonate
Angel Island’s Feasibility Study estimates one of the lowest operation costs in North America (OPEX of $2,833/t), due to its unique process, deposit chemistry, and sodium hydroxide (caustic soda) by-product sales
Uses an innovative and sustainable chloride-based leach process to extract the lithium from the claystone coupled with Direct Lithium Extraction

ABOUT THE PERMITTING COUNCIL AND FAST-41 PROJECTS

Established under Title 41 of the Fixing America’s Surface Transportation Act (FAST) Act (known as FAST-41) in 2015, the Permitting Council consists of the Executive Director and Deputy Secretary level representatives from 13 federal agencies as well as the Director of the Office of Management and Budget and the Chair of the Council on Environmental Quality. The Permitting Council brings federal agencies and stakeholders together to improve the permitting process for critical infrastructure projects.

Projects that meet the eligibility requirements to become FAST-41 Covered Projects receive many benefits, including a coordinated permitting timetable and active project management by the Permitting Council’s Infrastructure Project Management (IPM) team.

FAST-41 Transparency Projects are projects directed by the Executive Director to be posted on the Federal Permitting Dashboard, a public online resource for information on FAST-41 projects and the Environmental Review and Permitting process. More information on FAST-41 projects can be found on the Federal Permitting Dashboard at permits.performance.gov.

ABOUT CENTURY LITHIUM CORP.

Century Lithium Corp. is an advanced stage lithium company, focused on developing its wholly owned Angel Island project in Esmeralda County, Nevada, which hosts one of the largest sedimentary lithium deposits in the United States. The Company has utilized its patent-pending process for chloride leaching combined with direct lithium extraction to make battery-grade lithium carbonate product samples from Angel Island’s lithium-bearing claystone on-site at its Demonstration Plant in Amargosa Valley, Nevada.

Angel Island is one of the few advanced lithium projects in development in the United States to provide an end-to-end process to produce battery-grade lithium carbonate for the growing electric vehicle and battery storage market. Angel Island is currently in the permitting stage for a three-phase feasibility-level production plan expected to yield an estimated life-of-mine average of 34,000 tonnes per year of carbonate over a 40-year mine-life.

Century Lithium trades on both the TSX Venture Exchange under the symbol “LCE” and the OTCQX under the symbol “CYDVF”; and on the Frankfurt Stock Exchange under the symbol “C1Z”.

To learn more, please visit centurylithium.com.

ON BEHALF OF CENTURY LITHIUM CORP.

WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851
Toll Free: 1 800 567 8181
scacos@centurylithium.com
centurylithium.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

This release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” and similar expressions suggesting future outcomes or statements regarding an outlook.

Forward-looking statements relate to any matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, without limitation, statements with respect to the ability to complete a fundraising, potential development and value of the Project and benefits associated therewith, statements with respect to the expected project economics for the Project, such as estimates of life of mine, lithium prices, production and recoveries, capital and operating costs, IRR, NPV and cash flows, any projections outlined in the Feasibility Study in respect of the Project, the permitting status of the Project and the Company’s future development plans.

These and other forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein. These risks include those described under the heading “Risk Factors” in the Company’s most recent annual information form and its other public filings, copies of which can be under the Company’s profile at www.sedarplus.com. The Company expressly disclaims any obligation to update-forward-looking information except as required by applicable law. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place reliance on forward-looking statements or information. Furthermore, Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Superior Group of Companies (SGC) – Operating Momentum Improves

Posted on August 6, 2025August 6, 2025 by slightbourne@noblecapitalmarkets.com

Wednesday, August 06, 2025

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Solid Q2 results. The company reported solid revenue and adj. EBITDA of $144.0 million and $7.4 million, respectively, both of which were better than our estimates of $131.8 million and $6.1 million, respectively. Notably, the strong operating results were largely driven by a 14% increase in Branded Products sales over the prior year period.

Mitigating tariff impact. Notably, management highlighted that its Branded Products segment is well-positioned to navigate the current tariff environment. Importantly, the company started diversifying manufacturing away from China during the first Trump administration and now sources the majority of its Branded Products outside of China. Furthermore, the company’s Healthcare Apparel segment produces all of its finished products outside of China.

Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.

Great Lakes Dredge & Dock (GLDD) – Another Strong Quarter

Posted on August 6, 2025August 6, 2025 by slightbourne@noblecapitalmarkets.com

Wednesday, August 06, 2025

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. The Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

2Q25 Results. Revenue was $193.8 million, compared to $170 million a year ago. We had forecast revenue of $175.5 million. Gross margin improved to 18.9% from 17.5% in the year ago quarter. Great Lakes reported adjusted EBITDA of $28 million in the quarter and EPS of $0.14. In 2Q24, the Company had adjusted EBITDA of $25.8 million and EPS of $0.11.

Drivers. Great Lakes delivered another solid quarter, supported by strong project execution, continued strength in capital dredging, and favorable equipment utilization, even with the headwinds of four dredges undergoing their regulatory drydocking at various points during the quarter.

Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Graham (GHM) – Another Good Quarter

Posted on August 6, 2025August 6, 2025 by slightbourne@noblecapitalmarkets.com

Wednesday, August 06, 2025

Graham Corporation designs, manufactures and sells critical equipment for the energy, defense and chemical/petrochemical industries. The Company designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. It is a nuclear code accredited fabrication and specialty machining company. It supplies components used inside reactor vessels and outside containment vessels of nuclear power facilities. Its equipment is found in applications, such as metal refining, pulp and paper processing, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning. For the defense industry, its equipment is used in nuclear propulsion power systems for the United States Navy. The Company’s products are used in a range of industrial process applications in energy markets, including petroleum refining, defense, chemical and petrochemical processing, power generation/alternative energy and other.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Strong Quarter. Driven by continued strength across the diversified product portfolio, Graham delivered another solid quarter to start fiscal 2026. A highlight was the Energy and Process markets with strong growth driven by execution on major commercial projects and robust aftermarket demand, along with increasing momentum in emerging energy segments.

1Q26 Results. Revenue increased 11% to $55.5 million, slightly above our $54 million estimate. Gross margin improved 170 bp to 26.5%. Adjusted EBITDA rose 33% y-o-y to $6.8 million, with adjusted EBITDA margin up 200 bp to 12.3%. We were at $5.1 million. EPS increased 56% to $0.42 with adjusted EPS up 36% to $0.45. We were at $0.22 and $0.25, respectively.

Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

FreightCar America (RAIL) – Better Than Expected Second Quarter Financial Results

Posted on August 6, 2025August 6, 2025 by slightbourne@noblecapitalmarkets.com

Wednesday, August 06, 2025

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Second quarter financial results. FreightCar America generated adjusted net income of $3.8 million or $0.11 per share, compared to our estimate of $2.0 million or $0.06 per share. Second quarter revenue of $118.6 million exceeded our estimate of $100.6 million. Rail car deliveries were 939 units compared to 1,159 units during the prior year period and our estimate of 850. The year-over-year decline was attributed to a strategic shift in the product mix toward higher-margin rail cars. As a percentage of revenue, second quarter gross margin increased to 15.0% compared to 12.5% during the prior year period and our 12.7% estimate. Adjusted EBITDA amounted to $10.0 million compared to our $8.8 million estimate and represented an EBITDA margin of 8.4%.

Updating estimates. We are increasing our 2025 adjusted EBITDA and EPS estimates to $47.3 million and $0.54, respectively, from $45.9 million and $0.47. Our 2026 EBITDA and EPS estimates have increased to $53.2 million and $0.64, respectively, from $48.6 million and $0.53. While our estimates reflect higher gross margin as a percentage of revenue, they also reflect increased sales, general, and administrative expenses.

Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Commercial Vehicle Group (CVGI) – Post Call Commentary

Posted on August 6, 2025August 6, 2025 by slightbourne@noblecapitalmarkets.com

Wednesday, August 06, 2025

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Positives. There were a number of positives in the quarter, such as the 120 bp sequential improvement in gross margin, strong FCF generation, improved top line performance in Electrical Systems, and higher adjusted operating income in both Seating and Electrical Systems, reflecting benefits from prior restructuring actions.

But End Markets. In spite of the operating successes, CVG’s end markets remain challenged. It appears the much hoped for rebound in the Class 8 truck market will not occur in 2026, with only modest improvement in 2027. Still early days for these types of forecasts, but the Class 8 truck market is still 40% of revenue. And no real change in the Ag and Construction markets, which remain soft.

Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Century Lithium Corp. (CYDVF) – First Tranche of Financing Closed; Angel Island Added to the Federal Permitting Dashboard

Posted on August 6, 2025August 6, 2025 by slightbourne@noblecapitalmarkets.com

Wednesday, August 06, 2025

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

First tranche of LIFE offering closed. Century Lithium recently closed the first tranche of its previously announced the Listed Issuer Financing Exemption (LIFE) offering of up to 16,666,667 units at a price of C$0.30 per unit for gross proceeds of up to C$5,000,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of C$0.45 for a period of 60 months following the issuance of the units. In the first tranche, Century issued a total of 9,559,833 units for aggregate gross proceeds of C$2,867,950. Certain directors and officers of the company purchased a total of 168,333 units in the initial closing.

Use of net proceeds. Net proceeds from the financing will be used to complete an updated feasibility study for the company’s Angel Island Lithium Project, complete the project’s Plan of Operations, work towards National Environmental Policy Act (NEPA) compliance, and general working capital.

Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Release – Superior Group of Companies Reports Second Quarter 2025 Results

Posted on August 5, 2025August 6, 2025 by aweinsoff@channelchek.com

Research News and Market Data on SGC

08/05/2025

– Total net sales of $144.0 million, up 9% over $131.7 million in prior year second quarter –

– Net income of $1.6 million, up from $0.6 million in prior year second quarter –

– EBITDA of $6.1 million, up 9% over $5.6 million in prior year second quarter –

– Continued to execute on stock repurchase plan –

– Board of Directors approves $0.14 per share quarterly dividend –

ST. PETERSBURG, Fla., Aug. 05, 2025 (GLOBE NEWSWIRE) — Superior Group of Companies, Inc. (NASDAQ: SGC) (the “Company”), today announced its second quarter 2025 results.

“We were able to grow revenue 9% over the prior year, led by Branded Products sales climbing a very healthy 14%, resulting in strong sequential improvement from the first quarter,” said Michael Benstock, Chief Executive Officer. “We are experiencing modest improvement in client sentiment and we will continue to leverage our diverse sourcing channels and marketing strategies to make the most of market conditions. With our strong balance sheet and cost actions taken during the year, we’re able to navigate changing market conditions, invest for future growth and return capital to shareholders whenever possible. In addition to our consistent dividend, during the quarter we also continued to repurchase shares which we consider a compelling value.”

Second Quarter Results

For the second quarter ended June 30, 2025, net sales were $144.0 million, up from second quarter 2024 net sales of $131.7 million. Pretax earnings of $1.8 million were up from $0.7 million in the second quarter of 2024. Net earnings of $1.6 million or $0.10 per diluted share were up from net income of $0.6 million or $0.04 per diluted share for the second quarter of 2024.

Second Quarter 2025 Dividend

The Board of Directors declared a quarterly dividend of $0.14 per share, payable August 29, 2025 to shareholders of record as of August 18, 2025.

Share Repurchase Update

The Company allocated $4.0 million to repurchasing approximately 390,000 shares during the second quarter, resulting in $12.3 million remaining under its existing repurchase authorization at quarter end.

2025 Full-Year Outlook

The Company is maintaining its full-year revenue outlook range of $550 million to $575 million.

Webcast and Conference Call

The Company will host a webcast and conference call at 5:00 pm Eastern Time today. The live webcast and archived replay can be accessed in the investor relations section of the Company’s website at https://ir.superiorgroupofcompanies.com/Presentations. Interested individuals may also join the teleconference by dialing 1-844-861-5505 for U.S. dialers and 1-412-317-6586 for International dialers. The Canadian Toll-Free number is 1-866-605-3852. Please ask to be joined to the Superior Group of Companies call. A telephone replay of the teleconference will be available through August 19, 2025. To access the replay, dial 1-877-344-7529 in the United States or 1-412-317-0088 from international locations. Canadian dialers can access the replay at 855-669-9658. Please reference conference number 7254182 for replay access.

The Company’s website at https://ir.superiorgroupofcompanies.com/Presentations will also contain an updated investor presentation.

Disclosure Regarding Forward Looking Statements

Certain matters discussed in this press release are “forward-looking statements“ intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “potential,“ or “plan“ or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements in this press release may include, without limitation: (1) projections of revenue, income, and other items relating to our financial position and results of operations, including short term and long term plans for cash, (2) statements of our plans, objectives, strategies, goals and intentions, (3) statements regarding the capabilities, capacities, market position and expected development of our business operations and (4) statements of expected industry and general economic trends.

Such forward-looking statements are subject to certain risks and uncertainties that may materially adversely affect the anticipated results. Such risks and uncertainties include, but are not limited to, the following: the impact of competition; the effect of existing and/or new or expanded tariffs, uncertainties related to supply disruptions, inflationary environment (including with respect to the cost of finished goods and raw materials and shipping costs), employment levels (including labor shortages), and general economic and political conditions in the areas of the world in which the Company operates or from which it sources its supplies or the areas of the United States of America (“U.S.“ or “United States“) in which the Company‘s customers are located; changes in the healthcare, retail chain, food service, transportation and other industries where uniforms and service apparel are worn; our ability to identify suitable acquisition targets, discover liabilities associated with such businesses during the diligence process, successfully integrate any acquired businesses, or successfully manage our expanding operations; the price and availability of raw materials; attracting and retaining senior management and key personnel; the effect of the Company‘s previously disclosed material weakness in internal control over financial reporting; the Company may identify a material weakness in internal control in the future, which could result in us not preventing or detecting on a timely basis a material misstatement of the Company‘s financial statements and to maintain effective internal control over financial reporting; and other factors described in the Company‘s filings with the Securities and Exchange Commission, including those described in the “Risk Factors“ section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2025. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements made herein and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and we disclaim any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances, except as may be required by law.

About Superior Group of Companies, Inc. (SGC):

Established in 1920, Superior Group of Companies is comprised of three attractive business segments each serving large, fragmented and growing addressable markets. Across Healthcare Apparel, Branded Products and Contact Centers, each segment enables businesses to create extraordinary brand engagement experiences for their customers and employees. SGC’s commitment to service, quality, advanced technology, and omnichannel commerce provides unparalleled competitive advantages. We are committed to enhancing shareholder value by continuing to pursue a combination of organic growth and strategic acquisitions. For more information, visit www.superiorgroupofcompanies.com.

Investor Relations Contact:
Investors@Superiorgroupofcompanies.com