| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $6.7B | $5.4B | $6.2B | 23.5% | 9.0% |
| Op. Income | $1.5B | $927M | $1.2B | 61.8% | 25.4% |
| Gross Margin | 43.1% | 40.7% | 40.6% | 2.4pp | 2.5pp |
| Net Margin | 13.0% | 7.2% | 11.5% | 5.8pp | 1.6pp |
| EPS (Diluted) | $0.86 | $0.39 | $0.70 | 120.5% | 22.9% |
| Free Cash Flow | $163M | -$502M | -$6M | 132.5% | 2816.7% |
| Item | Amount |
|---|---|
| REVENUE | $6.7B |
| Cost of Revenue | $3.8B |
| GROSS PROFIT | $2.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $1.4B |
| Operating Expenses | $1.4B |
| Cost & Expenses | $5.2B |
| OPERATING INCOME | $1.5B |
| Interest Income | $0 |
| Interest Expense | $538M |
| Other Income/Expenses | -$470M |
| INCOME BEFORE TAX | $1.0B |
| Income Tax Expense | $155M |
| Net Income from Continuing Ops | $875M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $875M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $875M |
| D&A | $912M |
| EBIT | $1.6B |
| EBITDA | $2.5B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $6.7B |
| Cost of Revenue | $3.8B |
| GROSS PROFIT | $2.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $1.4B |
| Operating Expenses | $1.4B |
| Cost & Expenses | $5.2B |
| OPERATING INCOME | $1.5B |
| Interest Income | $0 |
| Interest Expense | $538M |
| Other Income/Expenses | -$470M |
| INCOME BEFORE TAX | $1.0B |
| Income Tax Expense | $155M |
| Net Income from Continuing Ops | $875M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $875M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $875M |
| D&A | $912M |
| EBIT | $1.6B |
| EBITDA | $2.5B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $874M |
| Depreciation & Amortization | $1.2B |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$44M |
| Other Non-Cash Items | $228M |
| Change in Working Capital | $31M |
| OPERATING CASH FLOW | $2.3B |
| Capital Expenditure | -$2.1B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | -$2.1B |
| Net Debt Issuance | $1.1B |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$404M |
| Other Financing Activities | -$19M |
| NET CASH FROM FINANCING | $686M |
| FREE CASH FLOW | $163M |
| Net Change in Cash | $847M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.0B |
| Short-Term Investments | $0 |
| Net Receivables | $4.0B |
| Inventory | $888M |
| Other Current Assets | $1.8B |
| TOTAL CURRENT ASSETS | $9.2B |
| PP&E (Net) | $82.1B |
| Goodwill | $6.6B |
| Intangible Assets | $0 |
| Long-Term Investments | $5.0B |
| Tax Assets | $0 |
| Other Non-Current Assets | $10.6B |
| TOTAL NON-CURRENT ASSETS | $104.3B |
| TOTAL ASSETS | $113.5B |
| Account Payables | $3.2B |
| Short-Term Debt | $3.6B |
| Deferred Revenue | $5M |
| Other Current Liabilities | $2.1B |
| TOTAL CURRENT LIABILITIES | $9.8B |
| Long-Term Debt | $46.3B |
| Deferred Revenue NC | $18M |
| Deferred Tax Liabilities | $13.5B |
| Other Non-Current Liabilities | $15.4B |
| TOTAL NON-CURRENT LIABILITIES | $75.6B |
| TOTAL LIABILITIES | $85.4B |
| Common Stock | $21.6B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $7.4B |
| Treasury Stock | -$123M |
| Accum. Other Comp. Income | -$715M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $28.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $28.1B |
| TOTAL LIABILITIES & EQUITY | $113.5B |
| Total Debt | $50.3B |
| Net Debt | $48.2B |
