Earnings Call Transcripts
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All Earnings Calls
Darling Ingredients Q2 2025 Earnings Call - Core ingredients gain traction, DGD recovery waits on RIN/SRE clarity
Darling delivered mixed results in Q2 2025: core feed and food ingredients showed margin improvement and early commercial momentum in new health-and-wellness products, while the renewable fuels arm (D...
- Combined adjusted EBITDA was $249.5 million for Q2 2025, down from $273.6 million in Q2 2024.
- Excluding DGD, Q2 2025 adjusted EBITDA was about $207 million versus $197 million a year ago, highlighting core business resilience.
- Management sees margin expansion in the feed segment, driven by higher fat prices and operational execution, with raw material volumes roughly flat at ~3.74 million metric tons for the quarter.
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Selective Insurance Group Q2 2025 Earnings Call - Paid Severity Emergence Forces Casualty Reserve Adds, Lifts Combined Ratio to ~100
Selective delivered decent economics this quarter, but the headlines belong to casualty paid-severity emergence. A $45 million, 3.8 point prior-year casualty reserve build pushed the GAAP combined rat...
- GAAP combined ratio 100.2% in Q2, driven by 3.8 points of unfavorable prior-year casualty reserve development totaling $45 million.
- Company raised 2025 GAAP combined-ratio guidance 1 point to 97 to 98, assuming 6 points of catastrophe losses and no further prior-year casualty development.
- Operating ROE was 10.3% for the quarter, operating EPS $1.31 and fully diluted GAAP EPS $1.36; investment income was a key driver of returns.
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First Merchants Corporation Q2 2025 Earnings Call - Strong Loan Growth Powering Earnings, Deposit Costs Create Modest Margin Risk
First Merchants posted a clean quarter: $0.98 EPS, $56.4 million in net income (up 43% year over year), and tangible common equity near 8.9%. Loan engines ran hot across commercial, C&I and consumer l...
- Q2 results: $0.98 EPS, $56.4 million net income, up 43% YoY; ROA 1.23% and efficiency ratio ~54% reflecting tight expense control.
- Loan growth accelerated, roughly $298 million QoQ (9.2% annualized) and $654 million YoY; commercial C&I and investment CRE were primary drivers.
- Management reduced lower-yielding securities by ~$372 million over 12 months and plans to recycle expected bond cash flows into loan funding rather than reinvest.
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Sonoco Second Quarter 2025 Earnings Call - Portfolio reset lifts EBITDA, but interest and working capital pin EPS to the low end
Sonoco posted a high-velocity quarter driven by the Eviosys acquisition rebranded as Sunoco Metal Packaging EMEA, strong U.S. metal-can volumes, and broad productivity gains. Net sales jumped 49% and ...
- Net sales grew 49% year over year to about $1.9 billion for Q2, driven largely by the SMP EMEA acquisition, higher U.S. metal packaging volume, and favorable pricing.
- Adjusted EBITDA rose 25% year over year to $328 million, and adjusted EBITDA margin expanded by 101 basis points to 17.2%.
- Adjusted EPS was $1.37 for the quarter, a 7% year over year increase, but full-year EPS guidance is now expected at the low end of the $6.00 to $6.20 range.
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FTI Consulting Q2 2025 Earnings Call - Resilient Results Mask Rising Leverage and Acute Tech/Econ Weakness
FTI reported a quarter that looks steady until you poke at the plumbing. Revenue was essentially flat year over year at $943.7 million, adjusted EBITDA held near last year at $111.6 million, and pocke...
- Revenue essentially flat year over year at $943.7 million versus $949.2 million in Q2 2024, with sequential growth of 5.1% from Q1 2025.
- Adjusted EBITDA of $111.6 million, or 11.8% of revenue, was near last year’s $115.9 million, but margins compressed in specific segments.
- EPS was $2.13, down from $2.34 a year ago but up from $1.74 in Q1 2025; adjusted EPS guidance narrowed to $7.80 to $8.40 for 2025.
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Ardagh Metal Packaging S.A. Q2 2025 Earnings Call - Americas volume surge drives upgraded full-year adjusted EBITDA guidance
Ardagh Metal Packaging reported a beat in Q2, driven by a strong Americas performance. Global shipments rose 5% in the quarter, while adjusted EBITDA jumped 18% year on year, led by North American vol...
- Q2 shipments grew 5% globally, adjusted EBITDA rose 18% year on year, results beat guidance.
- Management upgraded full year adjusted EBITDA guidance to $705 million to $725 million, based on current FX and no further macro deterioration.
- Full year shipments still targeted at 3% to 4%.
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Molina Healthcare Q2 2025 Earnings Call - Lowers EPS Guidance to $19 Floor as Medical Costs Accelerate
Molina reported Q2 adjusted EPS of $5.48 on $10.9 billion of premium revenue, but cut full-year adjusted EPS guidance to a floor of $19 from an initial $24.50 after medical cost trend accelerated acro...
- Molina reported Q2 2025 adjusted EPS of $5.48 on $10.9 billion of premium revenue, and a Q2 consolidated medical cost ratio (MCR) of about 90.4%.
- Full-year 2025 premium revenue guidance remains about $42 billion, but adjusted EPS guidance was revised down to a floor of no less than $19, versus an initial $24.50.
- The revision reflects 140 basis points of incremental consolidated MCR pressure versus initial guidance, with Marketplace accounting for nearly half of that increase.
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Atlantic Union Bankshares Q2 2025 Earnings Call - Sandy Spring deal drives scale, creates accounting noise, but trims CRE risk
Atlantic Union closed the Sandy Spring acquisition on April 1, a transformational deal that immediately lifted scale and margin but produced significant merger accounting noise that obscures GAAP resu...
- Sandy Spring acquisition closed April 1, 2025, immediately adding scale: assets acquired fair value $13.0 billion, loans held for investment $8.6 billion and deposits assumed $11.2 billion.
- Reported Q2 GAAP net income was $16.8 million, or $0.12 per share, heavily impacted by acquisition accounting; adjusted operating net income was $135.1 million, or $0.95 per share.
- FTE net interest margin expanded to 3.83%, up 38 basis points quarter over quarter, largely driven by accretion from purchase accounting; core NIM excluding accretion improved 8 basis points.
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Integer Holdings Corporation Q2 2025 Earnings Call - Raised AOI and EPS Midpoints After Strong CNV Ramps, Sales Midpoint Held
Integer reported a clean beat in Q2 2025, driven by a powerful cardio and vascular solutions cycle, better manufacturing execution, and tuck-in acquisition contribution. Sales rose 11% organically to ...
- Q2 2025 results: Sales $476 million, up 11% year over year on both reported and organic bases.
- Profitability improved sharply: adjusted operating income rose 15%, AOI margin expanded 50 basis points to 17.1% (10 bps gross margin, 40 bps operating expense leverage).
- Adjusted EBITDA was $99 million, up 10% year over year; adjusted net income was $55 million, up 23%; adjusted EPS $1.55, up 19%.
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"WEX Inc." Q2 2025 Earnings Call - Product investments deliver BP win and set stage for H2 reacceleration
WEX reported Q2 revenue of $659.6 million, down 2.1% year over year but effectively flat excluding fuel price and FX swings, while adjusted net income per diluted share came in at $3.95, up 1% (8% ex ...
- Q2 revenue $659.6 million, down 2.1% year over year; revenue flat year over year excluding fuel price and foreign exchange impacts.
- Adjusted net income per diluted share $3.95, up 1% year over year, and up 8% when excluding fuel price and FX fluctuations.
- Mobility remains the largest segment at about 50% of revenue, with transaction volumes and same-store sales down modestly versus last year, processing rate 1.31%.
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