Reports

KKR delivered strong third quarter results, highlighted by $1 billion in Fee Related Earnings, $43 billion in capital raised, and $860 million in net income. The firm’s Asset Management segment posted $2.4 billion in revenue, supported by a growing AUM base and record deployment activity.

• Fee Related Earnings reached a record $1.03 billion in Q3.
• KKR raised $43 billion in new capital during the quarter, its second-highest ever.

Constellation Energy delivered solid results in Q3 2025 with strong adjusted EPS and a strategic regulatory win for the Conowingo Dam, despite a year-over-year decline in GAAP net income.

• Adjusted EPS increased to $3.04, up from $2.74 last year
• GAAP Net Income declined to $930M from $1.2B year-over-year

Enbridge reported Q3 2025 net income of CAD 682 million and adjusted EPS of CAD 0.46. Strong contributions came from Gas Distribution and Storage, while operating performance remained stable across core businesses. The company reaffirmed its full-year guidance and announced accretive investments.

• Adjusted EPS for Q3 2025 was CAD 0.46, compared to CAD 0.55 in Q3 2024.
• Net income attributable to common shareholders was CAD 682 million.

Brookfield Asset Management delivered record-breaking third quarter results with $30 billion raised, $23 billion deployed, and $724 million in net income. Strong performance was led by infrastructure, credit, and transition strategies.

• Raised a record $30 billion in capital during the quarter.
• Deployed $23 billion, marking the company’s largest deployment quarter ever.

Duke Energy delivered robust Q3 results, with $8.54B in revenue and $1.41B in net income. The company reaffirmed its long-term EPS growth targets and narrowed its full-year guidance, driven by solid performance in Electric Utilities.

• Reported EPS of $1.81, with adjusted EPS also at $1.81
• Total operating revenue reached $8.54B, up from $7.98B last year

Honda posted weaker operating income and net income in Q2 2026, largely impacted by the cancellation and downsizing of certain EV initiatives, while overall revenue remained stable.

• Revenue reached ¥10.63 trillion, slightly down year-over-year.
• Operating income declined 41% to ¥438.1 billion due to one-time EV-related charges.

Ubiquiti delivered a solid Q1 FY26 with $733.8M in revenue and $207.9M in net income, supported by strength in its enterprise technology segment and enhanced gross margin performance.

• Revenue reached $733.8M, up from $550.3M YoY
• Net income grew to $207.9M, a 62.4% increase YoY

TELUS delivered solid results in Q3 2025, including growth in net income, EPS, and free cash flow. Strong performance in TELUS Health and stable TTech adjusted EBITDA contributed to the results. Total revenue remained flat due to lower equipment sales, but service revenue grew. The company raised its quarterly dividend and reaffirmed its annual guidance.

• Net income rose 68% to $431 million, driven by a gain on debt repurchase.
• Adjusted EPS decreased to $0.24, while reported EPS increased to $0.32.

Brookfield Infrastructure delivered a solid performance in Q3 2025, with net income of $440 million and revenue nearing $6 billion. The company benefited from new acquisitions, inflation-indexed contracts, and capital project commissioning while actively recycling capital to support growth.

• Reported net income of $440 million, a significant improvement from a $52 million loss in Q3 2024.
• Revenue grew to $5.975 billion, supported by organic growth and midstream segment performance.

Fluor Corporation experienced a challenging third quarter in 2025, reporting a GAAP net loss of $697 million, largely driven by a $653 million charge related to the Santos ruling and a $401 million reduction in NuScale's share price. Despite these significant impacts, the company achieved $3.3 billion in new awards, with 99% being reimbursable, and reported a strong adjusted EPS of $0.68, up 33% year-over-year. The company also generated $286 million in operating cash flow and increased its full-year guidance for adjusted EPS and EBITDA.

• Fluor reported a GAAP net loss of $697 million, primarily due to a $653 million charge for the Santos ruling and a $401 million reduction in NuScale's share price.
• New awards totaled $3.3 billion, a 21% increase year-over-year, with 99% being reimbursable projects.

MarketAxess posted total revenue of $208.8 million and net income of $68.2 million in Q3 2025. Trading volumes improved across most credit products, with record portfolio and high-yield volumes. Despite macro pressures in U.S. credit, the company saw continued growth in emerging markets and eurobonds, driven by client adoption of new trading protocols.

• Revenue reached $208.8 million, up 1% YoY.
• Net income was $68.2 million with a diluted EPS of $1.84.

Array Digital Infrastructure, Inc. posted $47.1 million in revenue and a net income of $108.8 million in Q3 2025, reflecting the impact of its new tower-focused strategy following the divestiture of its wireless operations.

• Revenue from continuing operations more than doubled year-over-year to $47.1 million.
• Net income attributable to Array shareholders was $108.8 million, reversing a loss from the prior year.

Essent Group Ltd. delivered steady performance in Q3 2025, driven by resilient credit trends, steady new insurance written, and healthy investment income, despite a modest decline in net income year-over-year.

• Net income was $164.2 million, or $1.67 per diluted share.
• New insurance written totaled $12.2 billion, in line with prior year.

Algonquin posted a net loss for Q3 2025, with decreased revenue and negative EPS, indicating ongoing struggles in performance despite recent strategic leadership changes.

• Algonquin reported a net loss of $67,800,000 for Q3 2025.
• Revenue for the quarter was $624,400,000, down from $666,800,000 in Q3 2024.

TDS saw net income of $40.2 million in Q3 2025, a significant improvement from a net loss in the prior year. Revenue declined due to divestitures, but fiber broadband additions and increased site rental revenues at Array signaled strategic progress.

• TDS reported net income of $40.2 million, reversing a $100.4 million loss a year ago
• Revenue declined to $308.5 million, impacted by the sale of non-strategic assets

Akero Therapeutics posted a net loss of $81.6 million for Q3 2025 as it ramped up clinical trial activity for its lead candidate EFX. Increased spending on CROs and CMO services pushed R&D expenses higher, while cash reserves remained strong.

• Net loss widened to $81.6 million, up from $72.7 million in Q3 2024
• R&D expenses increased to $78.9 million, primarily from Phase 3 SYNCHRONY program spending

Viasat showed modest year-over-year revenue growth and improved net loss performance in Q2 FY2026. Record contract awards and stronger cash generation marked a positive step toward long-term growth and capital efficiency.

• Revenue rose 2% year-over-year to $1.14 billion.
• Net loss improved significantly to $61.4 million, down from $137.6 million in Q2 FY2025.

Atmus Filtration Technologies reported strong financial results for the third quarter of 2025, with net sales increasing by 10.9% year-over-year to $448 million. The company achieved a GAAP net income of $55 million and diluted EPS of $0.66, while also completing its full operational separation from Cummins Inc. and raising its full-year 2025 guidance.

• Net sales increased by 10.9% to $448 million in Q3 2025, compared to $404 million in Q3 2024, driven by higher volume, pricing, and favorable currency impacts.
• GAAP net income was $55 million, with diluted earnings per share of $0.66, showing an improvement from $44 million and $0.52 respectively in the prior year.

DoubleVerify delivered an 11% year-over-year revenue increase to $188.6 million in Q3 2025, achieving a 35% adjusted EBITDA margin of $65.9 million. The company demonstrated disciplined execution across key growth initiatives and leveraged AI to enhance efficiency and product innovation, particularly in social media and CTV.

• Total revenue grew 11% year-over-year to $188.6 million, reflecting strong overall performance.
• Adjusted EBITDA reached $65.9 million, representing a healthy 35% adjusted EBITDA margin.

In Q3 2025, Six Flags faced a $1.2 billion net loss primarily due to a $1.5 billion goodwill and intangibles impairment charge, although Adjusted EBITDA remained nearly flat and attendance improved slightly. The company saw strength in out-of-park revenues and ongoing strategic integration efforts.

• Reported $1.2 billion net loss due to a $1.5 billion non-cash impairment charge
• Attendance grew to 21.1 million, up 1% year-over-year

In Q3 2025, Delek Logistics achieved record performance driven by expanded sour gas gathering and injection capabilities and robust volumes in its Delaware operations. The company delivered $45.6 million in net income and $136.0 million in Adjusted EBITDA while increasing its quarterly distribution for the 51st consecutive time. Total revenue grew to $261.3 million with a leverage ratio of 4.44x and $6.9 million in cash.

• Reported net income of $45.6 million, up from $33.7 million a year ago
• Adjusted EBITDA reached a record $136.0 million, up 27% year over year

ANI Pharmaceuticals delivered record Q3 2025 revenue of $227.8 million and adjusted non-GAAP EPS of $2.04. Performance was driven by exceptional Cortrophin Gel sales and continued momentum in Generics. Net income reached $26.3 million, and the company raised full-year guidance on both revenue and earnings.

• Record quarterly revenue of $227.8 million, up 53.6% year-over-year
• Cortrophin Gel revenue surged 93.8% to $101.9 million

Hawaiian Electric Industries (HEI) reported a net income of $31 million in Q3 2025, reversing last year’s wildfire-driven loss. Core operations remained stable, and the company strengthened liquidity through a successful debt issuance.

• Reported net income of $31 million, compared to a $123 million loss in Q3 2024.
• Revenue declined slightly to $790.6 million from $833.2 million in Q3 2024.

Sunstone Hotel Investors, Inc. delivered third-quarter earnings in line with expectations, despite ongoing headwinds in several key markets. Strong performance in San Francisco helped offset subdued government-related demand and a more price-sensitive leisure traveler elsewhere. The company successfully recast its credit facilities, addressing debt maturities through 2028, lowering borrowing costs, and enhancing financial flexibility. Net income decreased significantly compared to the prior year, while RevPAR and Average Daily Rate saw modest increases.

• Net income for Q3 2025 was $1.3 million, a 59.3% decrease compared to $3.2 million in Q3 2024.
• RevPAR increased by 2.0% to $216.12, and Average Daily Rate increased by 0.4% to $307.43, while Occupancy rose by 110 basis points to 70.3%.

Soho House delivered solid revenue growth in Q3 2025, driven by gains across all business segments, particularly in Membership and Other revenues. However, foreign exchange losses and higher operating costs led to a net loss.

• Total revenue reached $370.8 million, up 11% YoY
• Net loss of $18.7 million driven by $14 million non-cash FX losses

Sylvamo reported a net income of $57 million and adjusted operating earnings of $58 million for the third quarter of 2025. The company achieved 7% sales volume growth quarter-over-quarter and returned $60 million to shareholders through share repurchases and dividends. Despite challenging industry conditions in Europe and parts of Latin America, North America showed stable demand.

• Net income for Q3 2025 was $57 million, with diluted EPS of $1.41.
• Adjusted EBITDA reached $151 million, representing an 18% margin.

Global Partners grew total revenue to $4.7 billion in Q3 2025, driven by its Wholesale segment, though net income and gross margin declined due to weaker performance in GDSO and Commercial segments.

• Net income fell to $29.0 million from $45.9 million in Q3 2024
• Adjusted EBITDA dropped to $98.8 million from $114.0 million

Endeavour Silver saw strong revenue and production growth in Q3 2025, but reported a net loss driven by higher costs, including derivative losses and operational expenses.

• Silver equivalent production jumped 88% YoY to over 3 million ounces.
• Revenue increased 109% YoY to $111.4 million.

TaskUs delivered a strong third quarter in 2025, achieving record revenue of $298.7 million and maintaining high profitability with a 21.2% Adjusted EBITDA margin, fueled by significant growth in AI Services.

• Revenue reached $298.7M, up 17.0% YoY.
• Adjusted EBITDA margin remained stable at 21.2%.

Calumet delivered a profitable Q3 2025 with $313.4 million in net income, aided by record margins in Specialty Products & Solutions and ongoing cost reduction efforts.

• Reported net income of $313.4 million, reversing a loss from the prior year
• Adjusted EBITDA with Tax Attributes reached $92.5 million for the quarter

Perella Weinberg posted $165 million in revenue for Q3 2025, a 41% drop from last year, but remained profitable with GAAP EPS of $0.08 and Adjusted EPS of $0.13, supported by disciplined expense management and strategic hiring.

• Q3 2025 revenue was $164.6 million, down 41% year-over-year due to fewer M&A closings
• Net income attributable to PWP was $6 million, with GAAP diluted EPS of $0.08 and Adjusted EPS of $0.13

Marcus & Millichap delivered solid third quarter results with total revenue increasing by 15.1% year-over-year to $193.9 million. The company reported a net income of $0.2 million, or $0.01 diluted EPS, a significant improvement from a net loss in the prior year, despite a $0.08 per share litigation accrual. Growth was primarily driven by expanded client outreach and improved bid/ask spreads, particularly in the Private Client Market.

• Total revenue increased by 15.1% to $193.9 million in Q3 2025 compared to Q3 2024.
• The company achieved a net income of $0.2 million, or $0.01 diluted EPS, a turnaround from a net loss of $5.4 million in the prior year.

Delek US Holdings delivered a robust third quarter in 2025, reporting a net income of $178.0 million and an adjusted net income of $434.2 million. The company's performance was significantly boosted by a $280.8 million benefit from Small Refinery Exemptions (SREs) and a 46.8% increase in benchmark crack spreads, leading to a substantial rise in refining segment adjusted EBITDA. The logistics segment also showed strong growth due to recent acquisitions and increased wholesale margins.

• Net income reached $178.0 million, or $2.93 per diluted share, while adjusted net income was $434.2 million, or $7.13 per adjusted diluted share.
• The company recognized a $280.8 million benefit from Small Refinery Exemptions (SREs) and an additional $160.2 million related to a 50% reduction in RVO for the first nine months, significantly impacting adjusted EBITDA and net income.

Prime Medicine's Q3 2025 performance reflected steady pipeline advancement and disciplined expense management, though the company remains in a net loss position as it progresses its preclinical and early-stage programs.

• Reported total revenue of $1.23 million, primarily from collaboration income
• Net loss narrowed to $50.6 million from $52.5 million in Q3 2024

American Axle delivered solid operational performance in Q3 2025 with higher margins and improved free cash flow, even as revenue and net income remained flat compared to the prior year.

• Revenue held steady at $1.51 billion compared to Q3 2024.
• Net income declined slightly to $9.2 million from $10 million a year ago.

The company posted a net loss of $293.4 million and a revenue decline compared to the previous quarter. Terminal operations contributed to revenue gains, while the Ships segment saw a decline. Operating income turned negative, and EPS fell into negative territory.

• Total Q3 revenue was $327.4 million, led by $301.8 million from Terminals and Infrastructure.
• Net loss of $293.4 million due to lower gross margins and increased operating expenses.

Fulgent reported 17% year-over-year revenue growth in Q3 2025, with GAAP losses narrowing and non-GAAP profitability achieved through margin expansion and cost controls.

• Revenue grew to $84.1 million, a 17% increase year-over-year.
• GAAP net loss narrowed to $6.6 million, or $(0.21) per share.

Koppers delivered solid earnings despite a year-over-year revenue decline, driven by ongoing market softness. Cost control and portfolio optimization helped boost net income and cash flow.

• Revenue declined to $485.3M, down from $554.3M a year ago.
• Net income rose to $23.8M despite weaker top-line performance.

Graham Corporation delivered a solid Q2 FY26, with revenue up 23% year-over-year, driven by Defense and Space contracts. Net income remained strong and backlog hit an all-time high of $500.1 million.

• Revenue rose 23% to $66,027,000, driven by growth in Defense and Energy & Process markets.
• Backlog reached a record $500,100,000, indicating strong future demand.

AdvanSix reported a challenging third quarter in 2025, with sales decreasing by 6% to $374.473 million and a net loss of $2.638 million, compared to a net income of $22.266 million in the prior year. The company focused on optimizing operational and commercial performance amidst higher raw material input costs and weak market conditions in Nylon Solutions and lower net pricing in Chemical Intermediates.

• Sales for Q3 2025 were $374.473 million, a 6% decrease from $398.187 million in Q3 2024.
• The company reported a net loss of $2.638 million, a significant decline from a net income of $22.266 million in the same quarter last year.

Conduent posted a Q3 2025 net loss of $46M on $767M in revenue. Adjusted EBITDA margin improved to 5.2% as the company delivered on guidance and expanded AI capabilities, despite lower revenue and continued restructuring costs.

• Revenue declined 5% year-over-year to $767M.
• GAAP net loss was $46M, with adjusted net loss of $11M.

AirSculpt's Q3 2025 results reflected a 17.8% year-over-year revenue drop and increased net loss, primarily due to a decline in case volume and impairment charges. Despite these challenges, the company maintained positive adjusted EBITDA and remains optimistic about future market trends and operational efficiencies.

• Revenue declined to $34.993 million, down from $42.548 million in Q3 2024.
• Net loss widened to $9.512 million compared to $6.040 million in the prior year period.

Holley delivered solid Q3 2025 results, achieving 3.2% net sales growth and a $5.5M free cash flow, despite posting a small net loss. The company saw continued expansion across all divisions, improved margins, and adjusted EBITDA of $27.1M.

• Net sales reached $138.4 million, up 3.2% year-over-year.
• Adjusted EBITDA grew to $27.1 million, with margin expanding to 19.6%.

Canopy Growth posted a Q2 2026 net loss of $1.6M, significantly improved from the prior year. Revenue rose to $66.7M driven by strong growth in Canadian adult-use and medical cannabis. Gross margin remained steady, and operating losses shrank due to disciplined cost controls and lower SG&A expenses.

• Net loss improved to $1.6M from $128.3M a year earlier.
• Revenue grew 6% YoY to $66.7M, driven by Canadian cannabis sales.

AMC Networks saw notable gains in streaming revenues and EPS, while total revenue declined modestly year-over-year. The company maintained positive free cash flow and reported strong operating income despite lower advertising and licensing revenues.

• Streaming revenue rose to $174M with continued subscriber growth.
• Net income more than doubled to $77.7M.

Ares Commercial Real Estate Corporation posted a GAAP net income of $4.7 million for Q3 2025, driven by real estate revenue and a reversal of credit losses. Liquidity remains solid with $84.9 million in cash and ongoing investment momentum.

• Reported GAAP net income of $4.7 million and EPS of $0.08
• Non-GAAP Distributable Earnings reached $5.5 million or $0.10 per share

Cellectis delivered a profitable Q3 2025, supported by significant revenue from its collaboration with AstraZeneca. The company reported a modest net income and positive operating income, reflecting improved financial health.

• Revenue more than doubled YoY to $37.2M, mainly from AZ collaboration.
• Net income reached $589K versus a loss of $23.1M in Q3 2024.

In Q1 2026, Hain Celestial faced a 7% revenue decline and posted a net loss of $21 million. Despite this, cost reductions and pricing actions contributed to improved adjusted EBITDA margin in North America.

• Revenue declined to $368 million, down 7% from the prior year
• Gross profit was $68.1 million, with a gross margin of 18.5%