Tag: Industrial

Release – AZZ Inc. Announces Corporate Governance and Other Board Succession Changes

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AZZ Inc is the leading independent provider of hot-dip galvanizing and coil coating solutions in North America. (PRNewsfoto/AZZ, INC.)

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Mar 05, 2026, 06:30 ET

FORT WORTH, Texas, March 5, 2026 /PRNewswire/ — AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced the appointment of Aaron Schapper, age 52, and Charles “Chuck” Treadway, age 60, to serve as new members of AZZ’s Board of Directors, effective April 8, 2026 which is AZZ’s first Board meeting of fiscal year 2027.

Mr. Schapper currently serves as President, Chief Executive Officer and a member of the Board of Directors of Myers Industries Inc., a manufacturer of sustainable plastic and metal products that protect the world from the ground up for consumer, vehicle, food & beverage, industrial, infrastructure, and automotive end markets. Prior to joining Myers Industries, Mr. Schapper served in various executive level leadership roles with Valmont Industries, Inc., including Group President, Agriculture and Chief Strategy Officer; Group President of Infrastructure; Group President of Utility Support Structures; Vice President and General Manager, International Irrigation and Global Engineering. Prior to joining Valmont Industries, Mr. Schapper served as General Manager, Asia for Orbit Irrigation Products LLC. Mr. Schapper holds a B.S. in Mechanical Engineering and a B.A. in Mandarin Chinese from the University of Utah. He also holds an Executive M.B.A. from Northwestern University’s Kellogg School of Management at Hong Kong University of Science and Technology.

Mr. Treadway currently serves as President, Chief Executive Officer and a member of the Board of Directors of Vistance Networks, Inc., formerly known as CommScope Holding Company, Inc., a global provider of intelligent network solutions for access networks and purpose-driven enterprise networks. Prior to joining Vistance, Mr. Treadway served as Chief Executive Officer of Accudyne Industries. Prior to Accudyne Industries, Mr. Treadway held a number of executive level leadership positions with Thomas & Betts Corporation, including President and Chief Executive Officer, President and Chief Operating Officer, and Group President of Electrical. Mr. Treadway has also served in various senior leadership roles with ABB, Schneider Electric S.A., Prettl International and Yale Security. Mr. Treadway holds a B.S. in Electrical Engineering from the University of Louisiana, a M.S. in Electrical Engineering from Clemson University and an M.B.A. from Harvard University.

Additionally, on February 28, 2026, Mr. Dan Feehan announced his retirement from his position as Chairman of AZZ’s Board of Directors and was succeeded by Mr. Dan Berce. Mr. Feehan will continue to serve as a Board member of AZZ and as a member of the Compensation Committee and Nominating and Corporate Governance Committee until the expiration of his current term in July 2026.

With the appointments of Messrs. Schapper and Treadway, and Mr. Feehan announcing his retirement at the end of his term in July 2026, the Company’s Board will be comprised of eight members, with seven being independent, and four being added to the Board within the last five years.

Mr. Berce commented, “Dan has served the shareholders of AZZ with honor and distinction throughout his 26-year tenure on the Board, including seven years as Chairman. We thank him for his exemplary Board leadership and dedicated service to the Company and its shareholders.” 

Mr. Berce further noted, “We are pleased Aaron and Chuck have agreed to join AZZ’s Board of Directors, both candidates bring significant experience and diverse backgrounds that will add additional depth and diversity to the Board’s broad scope of professional expertise, including strategic revenue growth, M&A and ESG. Their appointments represent another meaningful step in our ongoing board refreshment initiatives. These two appointments were the result of a comprehensive search conducted by the Board, with the assistance of a leading independent search firm, as part of the Board’s commitment to regular and smooth board succession planning.”

About AZZ Inc.

AZZ Inc. is the leading independent provider of hot-dip galvanizing and coil coating solutions to a broad range of end-markets. Collectively, our business segments provide sustainable, unmatched metal coating solutions that enhance the longevity and appearance of buildings, products and infrastructure that are essential to everyday life.

Safe Harbor Statement

Certain statements herein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as “may,” “could,” “should,” “expects,” “plans,” “will,” “might,” “would,” “projects,” “currently,” “intends,” “outlook,” “forecasts,” “targets,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial, and economic data and management’s views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. Forward-looking statements speak only as of the date they are made and are subject to risks that could cause them to differ materially from actual results. Certain factors could affect the outcome of the matters described herein. This press release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand for our manufactured solutions, including demand by the construction markets, the industrial markets, and the metal coatings markets. We could also experience additional increases in production costs,, due to inflation, in labor costs, components and raw materials including zinc and natural gas, which are used in our hot-dip galvanizing process and the paint used in our coil coating process; customer requested delays of our manufactured solutions; delays in additional acquisition opportunities; an increase in our debt leverage and/or interest rates on our debt, of which a significant portion is tied to variable interest rates; availability of experienced management and employees to implement AZZ’s growth strategy; a downturn in market conditions in any industry relating to the manufactured solutions that we provide; economic volatility, including a prolonged economic downturn or macroeconomic conditions such as more inflation or changes in the political stability in the United States and other foreign markets in which we operate; tariffs, acts of war or terrorism inside the United States or abroad; and other changes in economic and financial conditions. AZZ has provided additional information regarding risks associated with the business, including in Part I, Item 1A. Risk Factors, in AZZ’s Annual Report on Form 10-K for the fiscal year ended February 28, 2025, and other filings with the SEC, available for viewing on AZZ’s website at www.azz.com and on the SEC’s website at www.sec.gov. You are urged to consider these factors carefully when evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the date hereof and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Company Contact:    
David Nark, Chief Marketing, Communications, and Investor Relations Officer
AZZ Inc.
(817) 810-0095
www.azz.com

Investor Contact:
Sandy Martin, Phillip Kupper
Three Part Advisors
(214) 616-2207
www.threepa.com

SOURCE AZZ, Inc.

Release – NN, Inc. Reports Fourth Quarter and Full Year 2025 Results

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NN delivers third consecutive year of successful transformation; completes majority of heavy spending

NN forecasts fourth year of improvement, and a return to organic net sales growth in 2026

CHARLOTTE, N.C., March 04, 2026 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR) (“NN” or the “Company”), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, today reported its financial results for the fourth quarter and full-year ended December 31, 2025. Key results include:

Financial Highlights

  • Q4 2025 net sales of $104.7 million and full-year 2025 net sales $422.2 million
  • Q4 2025 gross margin of 9.2% and full-year 2025 gross margin of 14.1%
  • Q4 2025 adjusted gross margin of approximately 18.8%, up 120 bps and approaching the Company’s five-year target of 20%
  • Q4 2025 operating loss of $10.4 million, and full-year 2025 operating loss of $18.9 million, improving 38.3% and 31.3%, respectively
  • Q4 2025 adjusted operating income of $3.3 million and full-year 2025 adjusted operating income of $14.2 million, improving 34.2% and 180.0%, respectively
  • Q4 2025 GAAP net loss of $11.3 million or $0.35 per share and full year 2025 GAAP net loss of $24.4 million, or $1.07 per share
  • Q4 2025 adjusted earnings per share of $0.00 and adjusted loss per share of $0.03 for the full-year 2025
  • Q4 2025 adjusted EBITDA of $12.9 million (12.3% of net sales) and full year 2025 adjusted EBITDA of $49.0 million (11.6% of net sales), respectively

Commercial & Strategic Highlights

  • Third consecutive year of achieving or beating target rate of new business wins, with approximately $70 million secured in 2025, exceeding guidance range, and bringing the three-year cumulative total to more than $200 million
    • New wins are accretive to consolidated margin profile
    • NN is achieving a >20% hit rate on new business opportunities
  • NN has won more than 170 new sales program awards which have launched during 2025 or will launch in 2026
  • NN secured its first new business win in the data center market with expanded commercial plans in the data center and electrical/power infrastructure ecosystem
  • Sales pipeline of more than $800 million across more than 800 programs, concentrated in targeted areas.
    • During 2025, NN significantly upsized the business development team for electrical products
  • NN formed a Strategic Committee of the Board of Directors in December 2025 to evaluate a range of strategic and financing alternatives to enhance shareholder value.

“NN delivered a third consecutive year of improved financial performance in 2025, and we look ahead to 2026 with increased confidence in our trajectory for sales, margins, and adjusted EBITDA,” said Harold Bevis, Chief Executive Officer of NN, Inc. “In 2025 we drove adjusted EBITDA towards recent highs despite softness in automotive and commercial vehicle markets and record high precious metal prices. Importantly, we completed the most capital-intensive portion of our transformation plan that included plant closures, significant headcount realignment, and exiting dilutive business. As a result, NN enters 2026 as a healthier, leaner, and more focused company, performing on multiple fronts, while beginning our next chapter of net sales growth.”

Bevis continued, “We expect 2026 to be a meaningful inflection point, and we are guiding to a fourth consecutive year of improved adjusted EBITDA which we expect to range between $50 million to $60 million. Our forecasted sales growth is already underway in the first quarter of 2026, and we plan to launch approximately 100 new programs in 2026. These new programs carry accretive margins that will strengthen our EBITDA and cash flow profile as they ramp. Critically, the success of our new wins program, our planned launches, and more stable markets will return NN’s annual net sales growth. We expect real commercial momentum, and we are also increasing our goals for new business wins for the year to a range of $70 million to $80 million.”

Bevis concluded, “The progress we have made and the momentum we are carrying into 2026 and beyond gives us increasing confidence in NN’s forward net sales trajectory. Our business mix continues to shift toward higher-growth, higher-margin markets including data center power, electrical grid infrastructure, defense, and medical, and we recently secured our first direct data center win. We believe the combination of our operational transformation and accelerating sales growth positions NN to deliver meaningful and sustained value creation for shareholders both in 2026 and in the years ahead.”

Fourth Quarter Results

Net sales were $104.7 million, a decrease of 1.7% compared to the fourth quarter of 2024 net sales of $106.5 million, which was primarily due to rationalization of underperforming business and plants and lower volumes partially offset by favorable foreign exchange impact of $2.1 million.

Loss from operations for the fourth quarter was $10.4 million compared to a loss from operations of $16.9 million for the same period of 2024. The year-over-year improvement was due to rationalization of underperforming business and plants, impairment of machinery and equipment recorded in 2024 at a plant that closed in 2025, and lower compensation expense due to decreased headcount.

Net loss for the fourth quarter was $12.5 million compared to net loss of $21.0 million for the same period in 2024. The year-over-year improvement was due to rationalization of underperforming business and plants, impairment of machinery and equipment recorded in 2024 at a plant that closed in 2025, and lower compensation expense due to decreased headcount.

Full-Year Results

Net sales for the year ended December 31, 2025, were $422.2 million compared to $464.3 million for the same period of 2024, a decrease of $42.1 million, or 9.1%. This was primarily due to the rationalization of underperforming business and plants, the sale of our Lubbock operations, lower volumes, and unfavorable foreign exchange effects of $0.6 million. These decreases were partially offset by the contribution of new business launches and higher precious metals pass-through pricing. Power Solutions sales were up while Mobile Solutions sales were down primarily due to a decline in low-margin auto parts business.

Loss from operations for the year ended December 31, 2025, was $18.9 million compared to a loss from operations of $27.5 million for the same period of 2024. The year-over-year improvement was due to rationalization of underperforming business and plants, impairment of machinery and equipment recorded in 2024 at a plant that closed in 2025, decrease in depreciation due to the impact of historical purchase accounting step-up basis being fully depreciated in the second half of 2024, and lower compensation expense due to decreased headcount. The improvement is partially offset by lower volumes.

Net loss for the year ended December 31, 2025, was $34.0 million compared to net loss of $38.3 million for the same period of 2024. The year-over-year improvement was primarily due to our improvement in loss from operations. The improvement is partially offset by loss on extinguishment of debt in 2025.

Fourth Quarter Adjusted Results

Adjusted EBITDA for the fourth quarter of 2025 was $12.9 million, or 12.3% of sales, compared to $12.1 million, or 11.3% of sales, for the same period of 2024. Adjusted income from operations for the fourth quarter of 2025 was $3.3 million compared to adjusted income from operations of $2.4 million for the same period of 2024.

Adjusted net loss for the fourth quarter of 2025 was $0.1 million, or $0.00 per diluted share, compared to adjusted net loss of $0.9 million, or $0.02 per diluted share, for the same period of 2024.

Power Solutions

Net sales for the fourth quarter of 2025 were $45.5 million compared to $39.2 million in the same period in 2024, an increase of 16.1%. The increase was primarily due to steady volumes, higher precious metals pass-through pricing and favorable foreign exchange effects.

Loss from operations for the fourth quarter was $3.9 million compared to income from operations of $1.3 million for the same period of 2024.

Adjusted income from operations for the fourth quarter was $4.9 million compared to adjusted income from operations of $4.6 million for the same period of 2024. The increase in adjusted income from operations was primarily due to lower administrative costs.

Net sales for the year ended December 31, 2025, were $178.6 million compared to $180.5 million for the same period of 2024, a decrease of $1.9 million, or 1.1%. This was primarily due to the sale of our Lubbock operations, lower volumes and unfavorable foreign exchange effects of $0.8 million. These decreases were partially offset by higher precious metals pass-through pricing.

Income from operations for the year ended December 31, 2025 was $10.3 million compared to income from operations of $13.1 million for the same period of 2024, a decrease of $2.8 million. This was primarily due to the sale of our Lubbock operations and lower volumes. The decrease is partially offset by lower administrative costs and lower depreciation and amortization expense due to sold or fully utilized assets.

Adjusted income from operations for the year ended December 31, 2025 was $26.9 million compared to adjusted income from operations of $24.7 million for the same period in 2024.

Mobile Solutions

Net sales for the fourth quarter of 2025 were $59.3 million compared to $67.4 million in the fourth quarter of 2024, a decrease of 12.0%. The decrease was primarily driven by rationalization of underperforming business and plants and lower volumes and partially offset by favorable foreign exchange impact.

Loss from operations for the fourth quarter was $1.4 million compared to loss from operations of $12.9 million for the same period of 2024. The improvement was primarily driven by rationalization of underperforming business and plants, impairment of machinery and equipment recorded in 2024 at a plant that closed in 2025, and lower compensation expense due to decreased headcount.

Adjusted income from operations for the fourth quarter was $3.1 million compared to adjusted income from operations of $2.5 million for the same period of 2024. The increase in adjusted income from operations was primarily due to the rationalization of underperforming business and plants.

Net sales for the year ended December 31, 2025, were $244.0 million compared to $283.9 million for the same period of 2024, a decrease of $39.9 million, or 14.1%. This was primarily due to rationalization of underperforming business and plants, lower volume in North America, and partially offset by favorable foreign exchange effects.

Loss from operations for the year ended December 31, 2025, was $8.0 million compared to loss from operations of $18.1 million for the same period of 2024. The improvement was primarily driven by rationalization of underperforming business and plants, impairment of machinery and equipment recorded in 2024 at a plant that closed in 2025, lower depreciation expense due to the impact of historical purchase accounting step-up becoming fully depreciated in the second half of 2024, and lower compensation expense due to decreased headcount.

Adjusted income from operations for the year ended December 31, 2025, was $7.3 million compared to adjusted income from operations of $1.5 million for the same period of 2024. The increase was primarily due to rationalization of underperforming business and plants and lower depreciation expense due to the impact of historical purchase accounting step-up becoming fully depreciated in the second half of 2024.

2026 Outlook

  • Revenues are expected to range between $445 to $465 million with modest organic growth coupled with new business launches, values may vary based on metals cost
  • Adjusted EBITDA expected to range between $50 and $60 million with modest operating leverage
  • New business wins are expected to increase to $70 to $80 million

Chris Bohnert, Senior Vice President and Chief Financial Officer commented, “For fiscal 2026, we are guiding net sales in the range of $445 million to $465 million and adjusted EBITDA in the range of $50 million to $60 million, reflecting a return to year-over-year net sales growth, and a notable expansion versus prior year. Importantly, this top-line growth will flow through a cost structure that has been fundamentally improved over the course of our transformation. The resulting operating performance is expected to drive adjusted EBITDA growth and margin expansion.”

Conference Call

NN will discuss its results during its quarterly investor conference call on March 5, 2026, at 9 a.m. ET. The call and supplemental presentation may be accessed via NN’s website, www.nninc.com. The conference call can also be accessed by dialing 1-877-255-4315 or 1-412-317-6579. For those who are unavailable to listen to the live broadcast, a replay will be available shortly after the call until March 6, 2027.

NN discloses in this press release the non-GAAP financial measures of adjusted income (loss) from operations, adjusted EBITDA, adjusted net income (loss), adjusted net income (loss) per diluted common share, and free cash flow. Each of these non-GAAP financial measures provides supplementary information about the impacts of restructuring and integration expense, acquisition and transition expenses, foreign exchange impacts on inter-company loans, amortization of intangibles and deferred financing costs, and other non-operating impacts on our business.

The financial tables found later in this press release include a reconciliation of adjusted income (loss) from operations, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted net income (loss) per diluted share, free cash flow to the U.S. GAAP financial measures of income (loss) from operations, net income (loss), net income (loss) per diluted common share, and cash provided (used) by operating activities.

The Company is unable to include a reconciliation of forward-looking Adjusted EBITDA to net loss, the most directly comparable GAAP measure, without unreasonable effort due to the high variability with respect to the impact of items such as income taxes, depreciation and amortization, stock-based compensation expense and other items that are excluded from this non-GAAP measure.

About NN, Inc.

NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Europe, South America, and Asia. For more information about the company and its products, please visit www.nninc.com.

This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial outlook for full year 2026, the impact of, and our ability to execute, our corporate strategies and business initiatives, the potential impact tariffs, high interest rates, high metal costs and additional economic uncertainties may have on our financial condition and results of operations, and the results and timing of our strategic review process. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project”, “achieve”, “growth”, “enable”, “improve”, or the negative of those terms, and similar words, phrases or expressions that convey uncertainty of future events or outcomes. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such forward-looking statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; the impacts of pandemics, epidemics, disease outbreaks and other public health crises on our financial condition, business operations and liquidity; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; material changes in the costs and availability of raw materials; economic, social, political and geopolitical instability, military conflict, currency fluctuation, and other risks of doing business outside of the United States; inflationary pressures and changes in the cost or availability of materials, supply chain shortages and disruptions, the availability of labor and labor disruptions along the supply chain; our dependence on certain major customers, some of whom are not parties to long-term agreements (and/or are terminable on short notice); the impact of acquisitions and divestitures, as well as expansion of end markets and product offerings; our ability to hire or retain key personnel; the level of our indebtedness; the restrictions contained in our debt agreements; our ability to obtain financing at favorable rates, if at all, and to refinance existing debt as it matures; our ability to secure, maintain or enforce patents or other appropriate protections for our intellectual property; new laws and governmental regulations; the impact of climate change on our operations; uncertainty of government policies and actions after recent U.S. elections in respect to global trade, tariffs and international trade agreements; and cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.

With respect to any non-GAAP financial measures included in the following document, the accompanying information required by SEC Regulation G can be found in the back of this document or in the “Investors” section of the Company’s web site, www.nninc.com, under the heading “News & Events” and subheading “Presentations.”
With respect to any non-GAAP financial measures included in the following document, the accompanying information required by SEC Regulation G can be found in the back of this document or in the “Investors” section of the Company’s web site, www.nninc.com, under the heading “News & Events” and subheading “Presentations.”

Investor & Media Contacts:
Joe Caminiti or Abe Plimpton
NNBR@alpha-ir.com
312-445-2870

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Release – FreightCar America, Inc. Announces Its 2026 Annual General Meeting and Record Date

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Research News and Market Data on RAIL

03/04/2026

CHICAGO, March 04, 2026 (GLOBE NEWSWIRE) — FreightCar America, Inc. (NASDAQ: RAIL) (the “Company” or “FreightCar”) announced today that it will hold its annual general meeting of shareholders (the “AGM”) at 10:00 am (Central Time) on April 10, 2026. The AGM will be held in virtual format only, via live webcast on the Internet, with no physical, in-person meeting. The record date for determining shareholders entitled to notice of, and to vote at, the AGM will be the close of business on February 10, 2026.

About FreightCar America

FreightCar America, headquartered in Chicago, Illinois, is a leading designer, producer and supplier of railroad freight cars, railcar parts and components. We also specialize in railcar repairs, complete railcar rebody services and railcar conversions that repurpose idled rail assets back into revenue service. Since 1901, our customers have trusted us to build quality railcars that are critical to economic growth and instrumental to the North American supply chain. To learn more about FreightCar America, visit www.freightcaramerica.com.

Forward-Looking Statements

This press release contains statements relating to our expected financial performance, financial condition, and/or future business prospects, events and/or plans that are “forward-looking statements” as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. These risks and uncertainties relate to, among other things, the cyclical nature of our business; adverse geopolitical, economic and market conditions, including inflation; material disruption in the movement of rail traffic for deliveries; fluctuating costs of raw materials, including steel and aluminum; delays in the delivery of raw materials; our ability to maintain relationships with our suppliers of railcar components; our reliance upon a small number of customers that represent a large percentage of our sales; the variable purchase patterns of our customers and the timing of completion; delivery and customer acceptance of orders; the highly competitive nature of our industry; the risk of lack of acceptance of our new railcar offerings; potential unexpected changes in laws, rules, and regulatory requirements, including tariffs and trade barriers (including recent United States tariffs imposed or threatened to be imposed on China, Canada, Mexico and other countries and any retaliatory actions taken by such countries); and other competitive factors. The factors listed above are not exhaustive. New factors emerge from time to time that may cause our business not to develop as we expect, and it is not possible for us to predict all of them. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.

For more information, please contact:

RAILIR@Riveron.com

Release – Saltchuk Resources, Inc. and Great Lakes Dredge & Dock Corporation Announce Commencement of Tender Offer for All Issued and Outstanding Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

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Mar 4, 2026

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SEATTLE and HOUSTON, March 04, 2026 (GLOBE NEWSWIRE) — Saltchuk Resources, Inc. (“Saltchuk”) and Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) (“GLDD”) announced that on March 4, 2026, Saltchuk’s wholly-owned subsidiary, Huron MergeCo., Inc. (“Purchaser”), commenced its tender offer (the “Offer”) for all issued and outstanding shares of common stock of GLDD (“Shares”) at a price of $17.00 per Share in cash, subject to any required tax withholdings and without interest (the “Offer Price”). The Offer is being made pursuant to the Agreement and Plan of Merger, dated as of February 10, 2026, by and among Saltchuk, Purchaser, and GLDD (the “Merger Agreement”), which Saltchuk and GLDD announced on February 11, 2026.

The GLDD Board of Directors has unanimously determined that the Merger Agreement and the Offer are in the best interests of GLDD’s stockholders. The GLDD Board of Directors also recommends that the stockholders of GLDD tender their shares to Purchaser pursuant to the Offer.

The Offer will expire at one minute after 11:59 p.m. New York City time on March 31, 2026, unless extended or earlier terminated. Instructions to tender Shares are being communicated to stockholders through MacKenzie Partners, Inc., the information agent for the Offer, or the institution or brokerage that holds Shares on the stockholder’s behalf.

Purchaser’s obligation to accept and pay for Shares tendered in the Offer is subject to conditions, including satisfaction of a minimum tender condition and other customary conditions for transactions of this type. After the completion of the Offer and the satisfaction or waiver of certain conditions, Purchaser will merge with and into GLDD, with GLDD continuing as the surviving entity (the “Merger”). As a result of the Merger, outstanding Shares will generally be cancelled and converted into the right to receive an amount equal to the Offer Price, and GLDD will cease to be a publicly traded company and will become wholly-owned by Saltchuk.

Additional Information

This press release is for information purposes only and does not constitute an offer to buy or the solicitation of an offer to sell any securities. The solicitation and the offer to buy shares of GLDD common stock will be made only pursuant to an offer to purchase and related materials that Saltchuk and Purchaser intend to file with the U.S. Securities and Exchange Commission (the “SEC”). Saltchuk and Purchaser will file a Tender Offer Statement on Schedule TO with the SEC and thereafter GLDD will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the Offer. BEFORE MAKING ANY INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF GLDD ARE URGED TO READ THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS), THE SOLICITATION/RECOMMENDATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN IMPORTANT INFORMATION WHICH SHOULD BE CONSIDERED BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. These materials will be sent free of charge to GLDD stockholders. In addition, all of these materials (and all other tender offer documents filed with the SEC) will be available at no charge from the SEC through its website at www.sec.gov and upon request to MacKenzie Partners, Inc., the information agent for the Offer, at 7 Penn Plaza, New York, New York 10001, by calling toll free (800) 322-2885. Broadridge Corporate Issuer Solutions, LLC is acting as depositary and paying agent for the Offer.

Cautionary Note Regarding Forward-Looking Statements

Forward-looking statements made herein with respect to the tender offer and related transactions, including, for example, the timing of the completion of the tender offer and the merger or the potential benefits of the tender offer and the merger, reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, GLDD’s and Saltchuk’s actual results may differ materially from its expectations or projections. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “target,” “project,” “contemplate,” “predict,” “potential,” “continue,” “may,” “would,” “could,” “should,” “seeks,” “scheduled to,” or other similar words, or the negative of these terms or other variations of these terms or comparable language.

The following factors, among others, could cause actual plans and results to differ materially from those described in forward-looking statements. Such factors include, but are not limited to, the effect of the announcement of the tender offer and related transactions on GLDD’s and Saltchuk’s relationships with employees, governmental entities and other business relationships, operating results and business generally; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, and the risk that the merger agreement may be terminated in circumstances that require GLDD to pay a termination fee; the possibility that competing offers will be made; the outcome of any legal proceedings that may be instituted against GLDD and Saltchuk related to the transactions contemplated by the merger agreement, including the tender offer and the merger; uncertainties as to the timing of the tender offer; uncertainties as to the number of stockholders of GLDD who may tender their stock in the tender offer; the failure to satisfy other conditions to consummation of the tender offer or the merger on the anticipated timeframe or at all, including the receipt of regulatory approvals related to the merger (and any conditions, limitations or restrictions placed on these approvals); risks that the tender offer and related transactions disrupt current plans and operations and the potential difficulties in employee retention as a result of the proposed transactions; the effects of local and national economic, credit and capital market conditions on the economy in general, and other risks and uncertainties; and those risks and uncertainties discussed from time to time in GLDD’s other reports and other public filings with the SEC.

Additional information concerning these and other factors that may impact GLDD’s expectations and projections can be found in its periodic filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2025. GLDD’s SEC filings are available publicly on the SEC’s website at www.sec.gov, on GLDD’s website at gldd.com under “Investors—Financials & Filings—SEC filings” or upon request via email to EMBirge@gldd.com. All forward-looking statements contained in this communication are based on information available to GLDD and Saltchuk as of the date hereof and are made only as of the date of this communication. GLDD and Saltchuk disclaim any obligation or undertaking to update or revise the forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required under applicable law. These forward-looking statements should not be relied upon as representing GLDD’s or Saltchuk’s views as of any date subsequent to the date of this communication. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of GLDD or Saltchuk.

About Saltchuk Resources, Inc.

Saltchuk is a privately owned family of diversified freight transportation, marine service, and energy distribution companies, with consolidated annual revenue of approximately $5.6 billion and 8,800 employees. We make multi-generational investments, championing our companies’ individual brands while providing strategic leadership and resources through our Corporate Home. Our companies maintain independent operations guided by shared values: safety comes first, reliability defines our customer relationships, and integrity shapes how we conduct business. We’re committed to each other, to environmental stewardship, and to contributing to our communities, fostering places where anyone would be proud for their children to work. Headquartered in Seattle, additional information is available at www.saltchuk.com.

About Great Lakes Dredge & Dock Corporation

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States, which is complemented with a long history of performing significant international projects. In addition, Great Lakes is fully engaged in expanding its core business into the offshore energy industry. GLDD employs experienced civil, ocean and mechanical engineering staff in its estimating, production, and project management functions. In its over 136-year history, GLDD 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 experience-based performance as they advance through GLDD operations. GLDD’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the GLDD’s culture. GLDD’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Contact

Eric Birge,

Vice President of Investor Relations,

313-220-3053

Release – FreightCar America, Inc. To Release Fourth Quarter and Full Year 2025 Results On March 9, 2026

Posted on by aweinsoff@channelchek.com

Research News and Market Data on RAIL

02/23/2026

CHICAGO, Feb. 23, 2026 (GLOBE NEWSWIRE) — FreightCar America, Inc. (NASDAQ: RAIL), a diversified manufacturer of railroad freight cars, today announced that it will release its fourth quarter and full year 2025 financial results on Monday, March 9, 2026, after the market close, and host a teleconference to discuss its fourth quarter and full year 2025 results on the following day. Teleconference details are as follows:

Please note that the webcast is listen-only and webcast participants will not be able to participate in the question and answer portion of the conference call. Interested parties are asked to dial in approximately 10 to 15 minutes prior to the start time of the call.

An audio replay of the conference call will be available beginning at 3:00 p.m. (Eastern Time) on Tuesday, March 10, 2026, until 11:59 p.m. (Eastern Time) on Tuesday, March 24, 2026. To access the replay, please dial (844) 512-2921 or (412) 317-6671. The replay passcode is 13758379. An archived version of the webcast will also be available on the FreightCar America Investor Relations website.

About FreightCar America

FreightCar America, headquartered in Chicago, Illinois, is a leading designer, producer and supplier of railroad freight cars, railcar parts and components. We also specialize in railcar repairs, complete railcar rebody services and railcar conversions that repurpose idled rail assets back into revenue service. Since 1901, our customers have trusted us to build quality railcars that are critical to economic growth and instrumental to the North American supply chain. To learn more about FreightCar America, visit www.freightcaramerica.com.

Investor ContactRAILIR@Riveron.com

Release – Great Lakes Reports Fourth Quarter and Full Year 2025 Results and the Signing of Two International Offshore Energy Contracts

Posted on by aweinsoff@channelchek.com

Research News and Market Data on GLDD

Feb 23, 2026

PDF Version

Record full year revenue of $888.3 million
Full year net income of $73.5 million (Adjusted net income of $81.6 million)
Record full year Adjusted EBITDA of $171.3 million

HOUSTON, Feb. 23, 2026 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (Nasdaq: GLDD), the largest provider of dredging services in the United States, today reported financial results for the fourth quarter and year ended December 31, 2025 and the signing of two international offshore energy contracts.

Fourth Quarter 2025 Highlights

  • Revenue was $256.5 million
  • Total operating income was $32.6 million
  • Net income was $12.6 million
  • Adjusted net income was $20.7 million
  • Adjusted EBITDA was $44.0 million

Full Year 2025 Highlights

  • Revenue was $888.3 million
  • Total operating income was $127.8 million
  • Net income was $73.5 million
  • Adjusted net income was $81.6 million
  • Adjusted EBITDA was $171.3 million
  • Backlog as of December 31, 2025 was $888.1 million

Previously Announced Saltchuk Transaction

On February 11, 2026, Great Lakes announced that it had entered into a definitive agreement for Saltchuk Resources, Inc. (“Saltchuk”) to acquire the Company. The closing of the transaction will be subject to customary closing conditions, including the expiration of the Hart-Scott-Rodino Act waiting period and the tender of shares representing at least one share more than a majority of Great Lakes’ outstanding shares of common stock, and is expected to close in Q2 2026.

Offshore Energy

Great Lakes entered into two new international offshore energy contracts with a major offshore wind developer. The awarded work will keep the Acadia utilized in Europe for the majority of 2027. 

Operational Update

Fourth Quarter 2025

  • Revenue was $256.5 million, an increase of $53.7 million from the fourth quarter of 2024. The higher revenue in the fourth quarter of 2025 was due primarily to the first full quarter of the Amelia Island working and higher capital and offshore energy revenue as compared to the same period in the fourth quarter last year, partially offset by lower coastal protection and maintenance project revenue.
  • Gross profit of $53.6 million increased from the fourth quarter of 2024 gross profit of $48.9 million primarily due to improved project performance. Gross profit margin decreased to 20.9% from 24.1% in the fourth quarter of 2024 primarily due to increased drydocking expenses.
  • Operating income was $32.6 million, increasing from $30.0 million in the prior year’s fourth quarter primarily due to the improved gross profit partially offset by higher general and administrative expenses primarily due to increased incentive compensation and expenses related to the Saltchuk transaction.
  • Net income was $12.6 million, decreasing from net income of $19.7 million in the prior year fourth quarter. The decrease was primarily driven by an $8.1 million one-time expense, net of tax impact, from the extinguishment of our second lien notes. Excluding this one-time expense, adjusted net income was $20.7 million.

Full Year 2025

  • Revenue was $888.3 million, an increase of $125.6 million from 2024. The higher revenue in 2025 was due primarily to the delivery of the Amelia Island and higher capital, coastal protection, and offshore energy revenues, partially offset by decrease in maintenance revenue.
  • Gross profit and gross profit margin of $203.5 million and 22.9%, respectively, increased from full year 2024 gross profit and gross profit margin of $160.6 million and 21.1%, respectively. The increases were driven by higher revenues as well as improved utilization and project performance in the current year.
  • Operating income for the full year 2025 was $127.8 million, which is a $35.0 million improvement from the prior year. The year-over-year increase is primarily a result of higher gross profit in the current year when compared to prior year, partially offset by higher general and administrative expenses primarily due to increased incentive pay in the current year when compared to prior year.
  • Net income for the full year 2025 was $73.5 million, which is a $16.2 million improvement compared to $57.3 million for the full year 2024. This increase is primarily driven by improvements to operating income in the current year when compared to prior year, partially offset by an increase in the income tax provision in the current year when compared to prior year as well as by the $8.1 million one-time expense, net of tax impact, from the extinguishment of our second lien notes. Excluding this one-time expense, adjusted net income was $81.6 million.

Balance Sheet, Backlog & Capital Expenditures

  • At December 31, 2025, the Company had $13.4 million in cash and cash equivalents, total long-term debt of $378.2 million and liquidity of over $330 million.
  • At December 31, 2025, the Company had $763.2 million in dredging backlog compared to $1.2 billion at December 31, 2024. Dredging backlog as of December 31, 2025 does not include approximately $200.2 million of awards and options pending.
  • At December 31, 2025, the Company had $124.8 million in offshore energy backlog compared to $44.9 million at December 31, 2024. Offshore energy backlog does not include approximately $2.9 million of options pending.
  • Total capital expenditures for the full year 2025 were $143.9 million including $69.1 million for the construction of the Acadia, $32.3 million for the Amelia Island, $13.7 million for support equipment, and $28.8 million for maintenance and growth.

Conference Call Information

As previously communicated, in light of the pending transaction with Saltchuk, Great Lakes will not host a conference call and webcast in conjunction with the quarter and year-end report.

Use of Non-GAAP Measures

Adjusted EBITDA, as provided herein, represents net income from continuing operations, adjusted for net interest expense, income taxes, depreciation and amortization expense, debt extinguishments, accelerated maintenance expense for new international deployments, goodwill or asset impairments and gains on bargain purchase acquisitions. Adjusted EBITDA is not a measure derived in accordance with GAAP. The Company presents Adjusted EBITDA as an additional measure by which to evaluate the Company’s operating trends. The Company believes that Adjusted EBITDA is a measure frequently used to evaluate the performance of companies with substantial leverage and that the Company’s primary stakeholders (i.e., its stockholders, bondholders and banks) use Adjusted EBITDA to evaluate the Company’s period to period performance. Additionally, management believes that Adjusted EBITDA provides a transparent measure of the Company’s recurring operating performance and allows management to readily view operating trends, perform analytical comparisons and identify strategies to improve operating performance. For this reason, the Company uses a measure based upon Adjusted EBITDA to assess performance for purposes of determining compensation under the Company’s incentive plan. Adjusted EBITDA should not be considered an alternative to, or more meaningful than, amounts determined in accordance with GAAP including: (a) net income as an indicator of operating performance or (b) cash flows from operations as a measure of liquidity. As such, the Company’s use of Adjusted EBITDA, instead of a GAAP measure, has limitations as an analytical tool, including the inability to determine profitability or liquidity due to the exclusion of accelerated maintenance expense for new international deployments, goodwill or asset impairments, gains on bargain purchase acquisitions, net interest expense and income tax expense and the associated significant cash requirements and the exclusion of depreciation and amortization, which represent significant and unavoidable operating costs given the level of indebtedness and capital expenditures needed to maintain the Company’s business. For these reasons, the Company uses net income to measure the Company’s operating performance and uses Adjusted EBITDA only as a supplement. Adjusted EBITDA is reconciled to net income in the table of financial results. For further explanation, please refer to the Company’s Securities and Exchange Commission (“SEC”) filings.

Adjusted net income and adjusted diluted earnings per share, as provided herein, represent net income and diluted earnings per share, adjusted for loss on extinguishment of debt. We believe adjusted net income and adjusted diluted earnings per share provide useful information about the Company’s operating performance. We believe excluding the [non-recurring loss on extinguishment of debt] provides investors with an alternative and supplemental understanding of our core business. Adjusted net income and adjusted diluted earnings per share are reconciled to net income and diluted earnings per share in the table of financial results. For further explanation, please refer to the Company’s SEC filings.

The Company

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States, which is complemented with a long history of performing significant international projects. In addition, Great Lakes is fully engaged in expanding its core business into the offshore energy industry. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 136-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.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking” statements, as defined in Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), the Private Securities Litigation Reform Act of 1995 (the “PSLRA”) or in releases made by SEC, all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “may,” “would,” “could,” “should,” “seeks,” “are optimistic,” “commitment to” or “scheduled to,” or other similar words, or the negative of these terms or other variations are being made pursuant to the Exchange Act and the PSLRA with the intention of obtaining of these terms or comparable language, or by discussion of strategy or intentions. These cautionary statements have the benefit of the “safe harbor” provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements with respect to Great Lakes include, but are not limited to: failure to satisfy the conditions to the transaction with Saltchuk; uncertainties associated with the transaction with Saltchuk; failure to complete the transaction with Saltchuk within the expected timeframe or at all; provisions in the definitive agreement with Saltchuk limiting our ability to pursue alternatives to the transaction with Saltchuk; restrictions on the conduct of our business under the definitive agreement with Saltchuk; potential lawsuits arising out of the proposed transaction with Saltchuk; stockholders’ inability to benefit from future Company growth if the transaction with Saltchuk is completed; unexpected difficulties related to the transaction with Saltchuk and integration of both companies; a reduction in government funding for dredging and other contracts, or government cancellation of such contracts, or the inability of the Corps to let bids to market; our ability to qualify as an eligible bidder under government contract criteria and to compete successfully against other qualified bidders in order to obtain government dredging and other contracts; the political environment and governmental fiscal and monetary policies; cost over-runs, operating cost inflation and potential claims for liquidated damages, particularly with respect to our fixed price contracts; the timing of our performance on contracts and new contracts being awarded to us; significant liabilities that could be imposed were we to fail to comply with government contracting regulations; project delays related to the increasingly negative impacts of climate change or other unusual, non-historical weather patterns; costs necessary to operate and maintain our existing vessels and the construction of new vessels, including with respect to changes in applicable regulations or standards; equipment or mechanical failures; pandemic, epidemic or outbreak of an infectious disease; disruptions to our supply chain for procurement of new vessel build materials or maintenance on our existing vessels; capital and operational costs due to environmental regulations; market and regulatory responses to climate change, including proposed regulations concerning emissions reporting and future emissions reduction goals; contract penalties for any projects that are completed late; force majeure events, including natural disasters, war and terrorists’ actions; changes in the amount of our estimated backlog; significant negative changes attributable to large, single customer contracts; Our ability to obtain financing for the construction of new vessels; our ability to secure contracts to utilize our new offshore energy vessel; unforeseen delays and cost overruns related to the construction of our new vessels; any failure to comply with the Jones Act provisions on coastwise trade, or if those provisions were modified, repealed or interpreted differently; our ability to comply with anti-discrimination laws, including those pertaining to diversity, equity and inclusion programs; fluctuations in fuel prices, particularly given our dependence on petroleum-based products; impacts of nationwide inflation on procurement of new build and vessel maintenance materials; our ability to obtain bonding or letters of credit and risks associated with draws by the surety on outstanding bonds or calls by the beneficiary on outstanding letters of credit; acquisition integration and consolidation, including transaction expenses, unexpected liabilities and operational challenges and risks; divestitures and discontinued operations, including retained liabilities from businesses that we sell or discontinue; potential penalties and reputational damage as a result of legal and regulatory proceedings; any liabilities imposed on us for the obligations of joint ventures, and similar arrangements and subcontractors; increased costs of certain material used in our operations due to newly imposed tariffs; unionized labor force work stoppages; any liabilities for job-related claims under federal law, which does not provide for the liability limitations typically present under state law; operational hazards, including any liabilities or losses relating to personal or property damage resulting from our operations; our substantial amount of indebtedness, which makes us more vulnerable to adverse economic and competitive conditions; restrictions on the operation of our business imposed by financing terms and covenants; impacts of adverse capital and credit market conditions on our ability to meet liquidity needs and access capital; limitations on our hedging strategy imposed by statutory and regulatory requirements for derivative transactions; foreign exchange risks, in particular, related to the new offshore energy vessel build; losses attributable to our investments in privately financed projects; restrictions on foreign ownership of our common stock; restrictions imposed by Delaware law and our charter on takeover transactions that stockholders may consider to be favorable; restrictions on our ability to declare dividends imposed by our financing agreements or Delaware law; significant fluctuations in the market price of our common stock, which may make it difficult for holders to resell our common stock when they want or at prices that they find attractive; changes in previously recorded net revenue and profit as a result of the significant estimates made in connection with our methods of accounting for recognized revenue; maintaining an adequate level of insurance coverage; our ability to find, attract and retain key personnel and skilled labor; disruptions, failures, data corruption, cyber-based attacks, security breaches, or regulatory non-compliance affecting our information technology and operational technology systems; and failure of our share repurchase program to be fully implemented or enhance long-term shareholder value. For additional information on these and other risks and uncertainties, please see Item 1A. “Risk Factors” of Great Lakes’ Annual Report on our most recent Form 10-K, Item 1A. “Risk Factors” of Great Lakes’ Quarterly Report on Form 10-Q’s and in other securities filings by Great Lakes with the SEC.

Although Great Lakes believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any forward-looking statements. Great Lakes’ future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

Additional Information and Where to Find It

The tender offer for the outstanding common stock of the Company has not yet commenced. The communication referenced above are for information purposes only and do not constitute an offer to buy or the solicitation of an offer to sell any securities. The solicitation and the offer to buy shares of Company common stock will be made only pursuant to an offer to purchase and related materials that Saltchuk and its subsidiary (“Sub”) intend to file with the U.S. Securities and Exchange Commission (the “SEC”). If the tender offer is commenced, Saltchuk and Sub will file a Tender Offer Statement on Schedule TO with the SEC, and thereafter the Company will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. BEFORE MAKING ANY INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS), THE SOLICITATION/RECOMMENDATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION WHICH SHOULD BE CONSIDERED BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. These materials will be sent free of charge to Company stockholders when available, and may also be obtained free of charge by contacting the Company’s Investor Relations Department c/o Eric Birge, Vice President of Investor Relations, Great Lakes Dredge & Dock Corporation, 9811 Katy Freeway, Suite 1200, Houston, Texas, 77024, 313-220-3053 or EMBirge@gldd.com. In addition, all of these materials (and all other tender offer documents filed with the SEC) will be available at no charge from the SEC through its website at www.sec.gov. Copies of the documents filed with the SEC by the Company will also be available free of charge under the “Investors—Financials & Filings—SEC filings” section of the Company’s website at gldd.com.

For further information contact:
Eric Birge
Vice President of Investor Relations
313-220-3053

Release – Great Lakes Dredge & Dock to Join the Saltchuk Family of Companies

Posted on by aweinsoff@channelchek.com

Research News and Market Data on GLDD

Feb 11, 2026

PDF Version

Great Lakes Shareholders to receive $17.00 per Share in All-Cash Transaction Valued at $1.5 Billion

HOUSTON and SEATTLE, Feb. 11, 2026 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, and Saltchuk Resources, Inc. (“Saltchuk”), a privately owned family of diversified freight transportation, marine service, and energy distribution companies, today announced a definitive agreement for Saltchuk to acquire Great Lakes at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion.

Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies, Saltchuk will commence a tender offer to acquire all outstanding shares of the Company for $17.00 per share in cash. The per share purchase price represents a 25% premium to Great Lakes’s 90-day volume-weighted average price as of February 10, 2026, the last trading day prior to the announcement, as well as a 5% premium to the Company’s all-time high closing price.

“We are pleased to have reached this agreement with Saltchuk that delivers significant value for our shareholders,” said Lawrence R. Dickerson, Chairman of the Great Lakes Board of Directors. “After extensive review, we have determined that this transaction is in the best interests of Great Lakes’ shareholders as it delivers immediate and certain value at a premium to the Company’s all-time high valuation.”

“We are happy to join Saltchuk’s family of companies who share our unique company culture, with focus on safety and our community, customers and employees,” said Lasse Petterson, Great Lakes’ President and Chief Executive Officer. “Our long-term growth strategy will continue with a partner who shares our vision while maintaining our leadership position in U.S. dredging and global offshore energy.”

Mark Tabbutt, Chairman of Saltchuk, said: “We are honored to begin our association with Great Lakes. Our goal is to provide a permanent home for great companies that serve their communities and Great Lakes is a perfect match. We look forward to welcoming the roughly 1,200 Great Lakes employees joining the Saltchuk family.”

The closing of the tender offer will be subject to customary closing conditions, including the expiration of the Hart-Scott-Rodino Act waiting period and the tender of shares representing at least one share more than a majority of Great Lakes’ outstanding shares of common stock, and is expected to close in Q2 2026. Promptly following the successful completion of the tender offer, Saltchuk will acquire all remaining Great Lakes shares not purchased in the tender offer through a second-step merger at the same price. The Company’s Board of Directors unanimously recommends that Great Lakes’ stockholders tender their shares in the tender offer.

Upon completion of the transaction, Great Lakes will operate as a standalone business within Saltchuk and its common stock will no longer be listed on the Nasdaq.

The transaction is not subject to a financing condition. It is supported by fully committed financing from Bank of America, Wells Fargo, U.S. Bank, and PNC.

Guggenheim Securities, LLC is acting as exclusive financial advisor to Great Lakes and Sidley Austin LLP is acting as legal advisor to Great Lakes. Evercore is acting as exclusive financial advisor to Saltchuk and Fried, Frank, Harris, Shriver & Jacobson LLP is acting as legal advisor to Saltchuk.

About Saltchuk Resources, Inc.

Saltchuk is a privately owned family of diversified freight transportation, marine service, and energy distribution companies, with consolidated annual revenue of approximately $5.6 billion and 8,800 employees. We make multi-generational investments, championing our companies’ individual brands while providing strategic leadership and resources through our Corporate Home. Our companies maintain independent operations, guided by shared values: safety comes first, reliability defines our customer relationships, and integrity shapes how we conduct business. We’re committed to each other, to environmental stewardship, and to contributing to our communities, fostering places where anyone would be proud for their children to work. Headquartered in Seattle, additional information is available at www.saltchuk.com.

About Great Lakes Dredge & Dock Corporation

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States, which is complemented with a long history of performing significant international projects. In addition, Great Lakes is fully engaged in expanding its core business into the offshore energy industry. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production, and project management functions. In its over 136-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 experience-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.

Additional Information and Where to Find It

The tender offer for the outstanding common stock of the Company has not yet commenced. The communication materials referenced above are for information purposes only and do not constitute an offer to buy or the solicitation of an offer to sell any securities. The solicitation and the offer to buy shares of Company common stock will be made only pursuant to an offer to purchase and related materials that Saltchuk and its subsidiary (“Sub”) intend to file with the U.S. Securities and Exchange Commission (the “SEC”). If the tender offer is commenced, Saltchuk and Sub will file a Tender Offer Statement on Schedule TO with the SEC, and thereafter the Company will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. BEFORE MAKING ANY INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS), THE SOLICITATION/RECOMMENDATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION WHICH SHOULD BE CONSIDERED BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. These materials will be sent free of charge to Company stockholders when available, and may also be obtained free of charge by contacting the Company’s Investor Relations Department c/o Eric Birge, Vice President of Investor Relations, Great Lakes Dredge & Dock Corporation, 9811 Katy Freeway, Suite 1200, Houston, Texas, 77024, 313-220-3053 or EMBirge@gldd.com. In addition, all of these materials (and all other tender offer documents filed with the SEC) will be available at no charge from the SEC through its website at www.sec.gov. Copies of the documents filed with the SEC by the Company will also be available free of charge under the “Investors—Financials & Filings—SEC filings” section of the Company’s website at gldd.com.

Cautionary Note Regarding Forward-Looking Statements

Forward-looking statements made herein with respect to the tender offer and related transactions, including, for example, the timing of the completion of the tender offer and the merger or the potential benefits of the tender offer and the merger, reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, the Company’s and Saltchuk’s actual results may differ materially from its expectations or projections. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “target,” “project,” “contemplate,” “predict,” “potential,” “continue,” “may,” “would,” “could,” “should,” “seeks,” “scheduled to,” or other similar words, or the negative of these terms or other variations of these terms or comparable language.

The following factors, among others, could cause actual plans and results to differ materially from those described in forward-looking statements. Such factors include, but are not limited to, the effect of the announcement of the tender offer and related transactions on the Company’s and Saltchuk’s relationships with employees, governmental entities and other business relationships, operating results and business generally; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, and the risk that the merger agreement may be terminated in circumstances that require the Company to pay a termination fee; the possibility that competing offers will be made; the outcome of any legal proceedings that may be instituted against the Company and Saltchuk related to the transactions contemplated by the merger agreement, including the tender offer and the merger; uncertainties as to the timing of the tender offer; uncertainties as to the number of stockholders of the Company who may tender their stock in the tender offer; the failure to satisfy other conditions to consummation of the tender offer or the merger on the anticipated timeframe or at all, including the receipt of regulatory approvals related to the merger (and any conditions, limitations or restrictions placed on these approvals); risks that the tender offer and related transactions disrupt current plans and operations and the potential difficulties in employee retention as a result of the proposed transactions; the effects of local and national economic, credit and capital market conditions on the economy in general, and other risks and uncertainties; and those risks and uncertainties discussed from time to time in the Company’s other reports and other public filings with the SEC.

Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in its periodic filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent Quarterly Reports on Form 10-Q. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov, on the Company’s website at gldd.com under the “Investors—Financials & Filings—SEC filings” or upon request via email to EMBirge@gldd.com. All forward-looking statements contained in this communication are based on information available to the Company and Saltchuk as of the date hereof and are made only as of the date of this communication. The Company and Saltchuk disclaim any obligation or undertaking to update or revise the forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required under applicable law. These forward-looking statements should not be relied upon as representing the Company’s or Saltchuk’s views as of any date subsequent to the date of this communication. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of the Company or Saltchuk.

For further information contact:
Eric Birge
Vice President of Investor Relations
313-220-3053

Release – CVG Announces Appointment of Ari Levy to Board of Directors

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Research News and Market Data on CVGI

February 6, 2026

NEW ALBANY, Ohio, Feb. 06, 2026 (GLOBE NEWSWIRE) — Commercial Vehicle Group (the “Company” or “CVG”) (NASDAQ: CVGI), a diversified industrial products and services company, today announced that its Board of Directors (“Board”) appointed Ari Levy of Lakeview Investment Group (“Lakeview”) as an independent director. Lakeview owns approximately 8.9% of the outstanding shares of the Company. In connection with Mr. Levy’s appointment, the Board was expanded to 7 members. Mr. Levy will serve on the Board’s Nominating, Governance and Sustainability, and Audit Committees.

Mr. Levy is the founder, President, and Chief Investment Officer of Lakeview Investment Group, a Chicago based Investment Manager focused on the public markets. Mr. Levy was the President of Levy Acquisition Corp, a NASDAQ listed acquisition vehicle, and subsequently served on the Board of the resulting public company, Del Taco, until it was acquired by Jack in the Box in early 2022. Ari holds a B.A. in International Relations from Stanford University.

“We are excited to welcome Ari to the Board,” said William Johnson, Chair of the Board of Directors. “His background and experience as a founder, operator, and investor will be valuable assets as we look to drive long-term value creation.”

“I am thrilled to join the CVG Board of Directors,” Ari Levy said. “I look forward to working alongside my fellow board members to help guide the Company into the future and maximize value for all stakeholders.”

Mr. Levy will stand for re-election at the Company’s 2026 Annual Meeting of Stockholders.

In connection with the appointment of Mr. Levy to the Board, the Company and Lakeview entered into a support agreement that contains customary standstill provisions.

Company Contact
Andy Cheung
Chief Financial Officer
CVG
IR@cvgrp.com

Investor Relations Contact
Ross Collins or Nathan Skown
Alpha IR Group
CVGI@alpha-ir.com

About CVG

CVG is a global provider of systems, assemblies and components to the global commercial vehicle market and the electric vehicle market. We deliver real solutions to complex design, engineering and manufacturing problems while creating positive change for our customers, industries and communities we serve. Information about the Company and its products is available on the internet at www.cvgrp.com.

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Source: Commercial Vehicle Group, Inc.

Release – The GEO Group Announces Expansion of Revolving Credit Facility by $100 Million

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Research News and Market Data on GEO

January 22, 2026

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BOCA RATON, Fla.–(BUSINESS WIRE)–Jan. 22, 2026– The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today the closing of an amendment to the Company’s Amended Credit Agreement to increase GEO’s Revolving Credit Facility commitments from $450 million to $550 million, effective January 20, 2026.

George C. Zoley, Executive Chairman of GEO, said, “We are pleased with this recent amendment to upsize our Revolving Credit Facility, which provides us with enhanced balance sheet flexibility while remaining positioned for future growth needs and long-term shareholder value creation, including through our expanded stock repurchase authorization announced in November. This important amendment also continues to demonstrate the growing support from our banking partners.”

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 95 facilities totaling approximately 75,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 20,000 employees.

Use of forward-looking statements

This news release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.

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

Source: The GEO Group, Inc.

Release – NN, Inc. Appoints Ted White to Board of Directors

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Research News and Market Data on NNBR

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Announces Cooperation Agreement with Legion Partners

CHARLOTTE, N.C., Jan. 20, 2026 (GLOBE NEWSWIRE) — NN, Inc. (“NN” or the “Company”) (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, today announced that it has appointed Ted White to its Board of Directors (the “Board”), effective immediately. In connection with this appointment, the Company has entered into a cooperation agreement (the “Cooperation Agreement”) with Legion Partners Asset Management, LLC (together with its affiliates, “Legion”), one of the Company’s largest shareholders.

Mr. White, Legion’s co-founder and Managing Director, is an experienced institutional investor and has corporate governance and capital markets expertise. He will join the Board’s Strategic Committee, which was formed to evaluate a broad range of strategic, financing and other alternatives to enhance shareholder value.

“We are pleased to welcome Ted to the Board,” said Harold Bevis, President and Chief Executive Officer of NN. “Over the last few years, we have transformed NN’s business profile while evolving our Board to ensure that we have the right skills and experience to help capitalize on the Company’s opportunities for profitable growth. We look forward to working alongside Ted to complete our transformation plan and deliver value for shareholders.”

Mr. White added, “I am excited to be joining the Board at this critical juncture as the Company continues to drive organic growth and profitability. I look forward to working with my fellow directors to unlock the significant upside in NNBR’s shares for the benefit of all shareholders.”

Mr. White’s addition to the Board was completed following constructive engagement with another of the Company’s largest shareholders, Corre Partners Management, LLC (“Corre”).  Corre has informed the Company that it is supportive of the appointment, including Mr. White’s membership on the Board’s Strategic Committee.

Pursuant to the Cooperation Agreement, Legion has agreed to a customary standstill, voting commitment, and related provisions. The full Cooperation Agreement will be filed as an exhibit to a Current Report on Form 8-K with the U.S. Securities and Exchange Commission.

About Ted White

Ted White is co-founder and a Managing Director of Legion Partners Asset Management, an institutional asset management firm. Prior to founding Legion Partners, Mr. White served in various functions with Knight Vinke Asset Management, a European-based investment management firm. Positions included Managing Director and Chief Operating Officer, where he was responsible for finance, operations, legal, marketing and client service functions. He is a former Deputy Director of the Council of Institutional Investors (CII), where responsibilities included policy development and implementation. Earlier in his career, Mr. White was a Portfolio Manager, Director of Corporate Governance, for the California Public Employees’ Retirement System (“CalPERS”), where he was responsible for all components of its Governance Program, including $3 billion in active management, policy development and implementation, proxy voting and focused engagement activities. Prior to CalPERS, Mr. White was an Investment Officer – Deputy State Treasurer at the California State Treasurer’s Office, where his duties included fixed income portfolio analysis and trading, among other responsibilities. He has served as a director of Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) since 2024.

Mr. White earned an MBA from California State University in Sacramento with a concentration in finance. He is also a Chartered Financial Analyst Charterholder.

About NN

NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Europe, South America, and China. For more information about the company and its products, please visit www.nninc.com.

Investor Relations:
Joseph Caminiti or Stephen Poe
NNBR@alpha-ir.com
312-445-2870

Forward-Looking Statements

This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the Company’s previously announced review of strategic, financing and other alternatives, including the timing and outcome of such review, our long-term financial profile and other statements that are not historical fact. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “growth,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project”, “trajectory” or other similar words, phrases or expressions. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; material changes in the costs and availability of raw materials; the level of our indebtedness; our ability to secure, maintain or enforce patents or other appropriate protections for our intellectual property; and cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.

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Source: NN, Inc.

Release – Sky Harbour Announces First Draw under J.P. Morgan Facility; Posts $100 million 5-Year Bond Preliminary Limited Offering Memorandum; and Updates Leasing Activity

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01/12/2026

Closes its First Prepaid Long-Term Hangar Lease with a $5.9 million Upfront Cash Payment

WEST HARRISON, N.Y.–(BUSINESS WIRE)– Sky Harbour Group Corporation (NYSE: SKYH, SKYH WS) (“SHG” or the “Company”), an aviation infrastructure company building the first nationwide network of Home Base Operator (HBO) campuses for business aircraft, announced today that its indirect, wholly-owned subsidiary Sky Harbour Capital III LLC (“SKYH Capital III”) is filing today with the Municipal Securities Rulemaking Board through its Electronic Municipal Market Access system (“EMMA”) a Preliminary Limited Offering Memorandum relating to the offering of $100 million of tax-exempt fixed rate bonds with a 5-year mandatory tender date (the “Series 2026 Bonds”), which are proposed to be issued by the Public Finance Authority of Wisconsin, a multi-jurisdictional conduit issuer. Through underwriters Barclays Capital, J.P. Morgan, and Academy Securities, SKYH Capital III expects to price the Series 2026 Bonds during the week of January 26th, after a two-week investor marketing period. The proceeds of the Series 2026 Bonds are expected to be used to finance the development of certain of the Company’s hangar campuses, as described below. The principal amount, structure, tenor and timing are preliminary and subject to change. Any such offering is dependent on market and other conditions, and there is no assurance that all or any of the Series 2026 Bonds will be offered.

Separately, Sky Harbour Capital II (“SKYH Capital II”) completed the onboarding of subsidiaries owning its hangar campuses at Camarillo Airport and Bradley International Airport to the borrowing base of its committed warehouse bank facility with JPMorgan Chase Bank, N.A. on January 8, 2026 (the “JPM Facility”). The Company also amended the JPM Facility in order to facilitate the flow of funds securing the proposed Series 2026 Bonds. These amendments have been filed under Form 8-K with the SEC. On the same date, SKYH Capital II drew funds of approximately $13 million to reimburse the Company for prior advances associated with capital expenditures at Bradley International Airport and certain costs of issuance and fund certain reserves for the JPM Facility.

Update on Leasing Activities

  • Stabilized campuses: The Company expects revenue per square foot at its stabilized campuses to increase as legacy hangar leases turn over or are renewed and through the annual rent escalators embedded in all tenant leases.
  • Recently opened campuses: As of January 9, 2026, Dallas Addison (ADS) Phase 1, Phoenix Deer Valley (DVT) and Denver Centennial (APA) have reached 87% ,73% and 27% occupancy levels, respectively.
  • Pre-leasing: We continue our pre-lease activities at Washington Dulles (IAD), Bradley International Airport (BDL), and have begun pre-leasing at Miami-Opa Locka (OPF) Phase 2 and Addison (ADS) Phase 2. The latter two projects are under construction following the success of their respective Phase 1 developments, which are now nearly fully leased.
  • Selective long-term partnerships: We have extended our documentation negotiation period under the letter of intent with a potential joint-venture partner leasing a single SH34 hangar at OPF Phase 2 through mid-March 2026, in order to address certain operational requirements. Separately, we continue discussions for similar joint ventures at other locations in the network with other parties.
  • Ultra-long tenant leases: In late December, we entered into an amended lease with an existing tenant at OPF Phase 1 for a 15-year lease term in exchange for an upfront lump sum rent payment of $5.9 million.

Update on Capital Formation

  • The proposed Series 2026 Bonds, if completed, would raise $100 million, reducing the need for additional equity contributions associated with the $200 million JPM Facility. As previously disclosed, the JPM Facility has a 5-year term commencing September 2025 with an interest rate of 80% of the sum of daily SOFR + 0.10%, plus 200 basis points. The Company subsequently entered into a floating-to-fixed interest rate swap, with a notional schedule based on the anticipated draws under the JPM Facility and a 4.73% fixed rate for the duration of the term of the JPM Facility. Proceeds from the JPM Facility and the Series 2026 Bonds are expected to be used to fund construction projects at Bradley International Airport (BDL), Salt Lake City International (SLC), Orlando Executive Airport (ORL), Hudson Valley Regional Airport (POU), Trenton-Mercer Airport (TTN), Chicago Executive Airport (PWK) and Dulles International Airport (IAD). The JPM Facility is expandable to $300 million subject to credit approval.
  • If completed as planned, the $100 million raised from the Series 2026 Bond issuance and the $200 million of borrowing capacity available from the JPM Facility and other existing Company resources are expected to fully fund approximately 1.1 million rentable square feet of new hangars, for a total of approximately 2.1 million rentable square feet portfolio-wide.
  • Selective long-term partnerships: Should the company enter selective long-term partnerships or ultra long-term tenant leases as described above, the Company expects to use the proceeds for the satisfaction of any of its future capital needs and for general corporate purposes.
  • Internal Cash Flow Generation. The Company expects that between its leasing activities in Q4 2025, Q1 2026, and the anticipated opening of its OPF Phase 2 campus in Q2 2026, the Company will now be able to reinvest internally generated cash flows as equity for its future developments.

About Sky Harbour

Sky Harbour Group Corporation is an aviation infrastructure company developing the first nationwide network of Home-Basing campuses for business aircraft. The company develops, leases, and manages general aviation hangar campuses across the United States. Sky Harbour’s Home-Basing offering aims to provide private and corporate residents with the best physical infrastructure in business aviation, coupled with dedicated service, tailored specifically to based aircraft, offering the shortest time to wheels-up in business aviation. To learn more, visit www.skyharbour.group.

Forward Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements about the financial condition, results of operations, earnings outlook and prospects of SHG, including statements regarding our expectations for future results, our expectations for future ground leases, our plans for future capital raising activity, the transactions contemplated by the letter of intent, our expectations on future construction and development activities and lease renewals, and our plans for future financings. When used in this press release, the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current expectations of the management of Sky Harbour Group Corporation (the “Company”) as applicable and are inherently subject to uncertainties and changes in circumstances. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. For more information about risks facing the Company, see the Company’s annual report on Form 10-K for the year ended December 31, 2024 and other filings the Company makes with the SEC from time to time. The Company’s statements herein speak only as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Key Performance Indicators

We use a number of metrics, including annualized revenue run rate per leased rentable square foot, to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans, and make strategic decisions. Our key performance indicators may be calculated in a manner different than similar key performance indicators used by other issuers. These metrics are estimated operating metrics and not projections, nor actual financial results, and are not indicative of current or future performance.

Disclaimer

This Notice does not constitute an offer to sell Series 2026 Bonds or the solicitation of an offer to buy, nor shall there be any sale of the Series 2026 Bonds by any person in any state or other jurisdiction to any person to whom it is unlawful to make such offer, solicitation or sale in such state or jurisdiction. No dealer, broker, salesperson or any other person has been authorized to give any information or to make any representation other than those contained in the Preliminary Limited Offering Memorandum in connection with the contemplated offering of the Series 2026 Bonds, and, if given or made, such information or representation must not be relied upon.

Sky Harbour Investor Relations: investors@skyharbour.group Attn: Francisco X. Gonzalez

Source: Sky Harbour Group Corporation

Release – The GEO Group Awarded Contract by U.S. Immigration and Customs Enforcement for Provision of Skip Tracing Services

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Research News and Market Data on GEO

December 22, 2025

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BOCA RATON, Fla.–(BUSINESS WIRE)–Dec. 22, 2025– The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today that its wholly-owned subsidiary, BI Incorporated (“BI”), has been awarded a contract by U.S. Immigration and Customs Enforcement (“ICE”) for the provision of skip tracing services. Skip tracing services entail enhanced location research with identifiable information, commercial data verification, and physical observation to verify current address information and investigate alternative address information for individuals on the federal government’s non-detained docket.

The new contract has a term of two years, with an initial term of one year, effective December 16, 2025, and an additional one-year period. The estimated revenue value of the two-year contract is up to approximately $121 million.

George C. Zoley, Executive Chairman of GEO, said, “The expansion of our services addressing the non detained docket through this new contract is a testament to the high-quality solutions BI has provided to ICE for more than 21 years. We appreciate the confidence that ICE and the U.S. Department of Homeland Security have continued to place in our company.”

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 95 facilities totaling approximately 75,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 20,000 employees.

Use of forward-looking statements

This news release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.

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

Source: The GEO Group, Inc.

Release – CoreCivic Announces Promotion of Daren Swenson to Executive Vice President And Chief Corrections and Reentry Officer

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Research News and Market Data on CXW

December 12, 2025

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BRENTWOOD, Tenn., Dec. 12, 2025 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (“CoreCivic” or the “Company”) announced today that CoreCivic’s Board of Directors (the “Board”) has appointed Daren Swenson, who currently serves as CoreCivic’s Senior Vice President and Chief Corrections Officer, to Executive Vice President and Chief Corrections and Reentry Officer (CCRO), effective January 1, 2026, overseeing the operations for our corrections, detention, and reentry facilities.

Damon T. Hininger, CoreCivic’s Chief Executive Officer, commented, “Daren is an exceptional leader whose decades of service within the organization has allowed him to develop an in-depth knowledge of our business. I am confident that Daren’s demonstrated abilities will serve us well in the midst of a period of rapid growth.”

Patrick D. Swindle, CoreCivic’s President and Chief Operating Officer, added, “I look forward to Daren’s continued contributions to operational excellence, drawing on his extensive experience with the Company, as we tend to the growing needs of our government partners.”

Mr. Swenson said, “I am deeply honored by the trust CoreCivic’s Board and executive leadership have placed in me with this new role. Having spent my career with CoreCivic since 1992, I have witnessed firsthand the dedication and professionalism of our team as we work to serve our government partners and the public good. I am grateful for the opportunity to continue helping individuals on their path to reentry and addressing the complex needs of our government partners. As we move forward during this exciting period of growth, I look forward to working alongside my colleagues to deliver innovative solutions and uphold the high standards that define CoreCivic.”

Mr. Swenson began his career with CoreCivic in 1992 at our Prairie Correctional Facility in Appleton, Minnesota as a Correctional Sergeant. Before becoming Senior Vice President and Chief Corrections Officer of the Company, Mr. Swenson progressed through multiple leadership positions including Warden, Managing Director, and Vice President. Mr. Swenson holds bachelor’s degrees in psychology and sociology from North Dakota State University and a master’s degree in management with a concentration in Organizational Leadership from Middle Tennessee State University.

About CoreCivic

CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and one of the largest operators of such facilities in the United States. We have been a flexible and dependable partner for government for more than 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements concerning executive leadership positions at CoreCivic and prospects of growth in CoreCivic’s business. These forward-looking statements may include such words as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely,” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Such forward-looking statements may be affected by risks and uncertainties in CoreCivic’s business and market conditions. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. Important factors that could cause actual results to differ are described in the filings made from time to time by CoreCivic with the Securities and Exchange Commission (“SEC”) and include the risk factors described in CoreCivic’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 21, 2025. Except as required by applicable law, CoreCivic undertakes no obligation to update forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.

Contact:Investors: Jeb Bachmann – Managing Director, Investor Relations – (615) 263-3024
Media: Steve Owen – Vice President, Communications – (615) 263-3107