| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $961M | $1.1B | $894M | -14.8% | 7.5% |
| Op. Income | $223M | $257M | $130M | -13.2% | 71.5% |
| Gross Margin | 26.4% | 44.1% | 38.8% | -17.7pp | -12.4pp |
| Net Margin | 18.1% | 18.9% | 9.7% | -0.8pp | 8.4pp |
| EPS (Diluted) | $0.68 | $0.83 | $0.34 | -18.1% | 100.0% |
| Free Cash Flow | -$240M | -$333M | -$195M | 27.9% | -23.1% |
| Item | Amount |
|---|---|
| REVENUE | $961M |
| Cost of Revenue | $707M |
| GROSS PROFIT | $254M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $31M |
| Operating Expenses | $31M |
| Cost & Expenses | $738M |
| OPERATING INCOME | $223M |
| Interest Income | $0 |
| Interest Expense | $124M |
| Other Income/Expenses | -$92M |
| INCOME BEFORE TAX | $131M |
| Income Tax Expense | -$43M |
| Net Income from Continuing Ops | $174M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $174M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $174M |
| D&A | $208M |
| EBIT | $255M |
| EBITDA | $463M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $961M |
| Cost of Revenue | $707M |
| GROSS PROFIT | $254M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $31M |
| Operating Expenses | $31M |
| Cost & Expenses | $738M |
| OPERATING INCOME | $223M |
| Interest Income | $0 |
| Interest Expense | $124M |
| Other Income/Expenses | -$92M |
| INCOME BEFORE TAX | $131M |
| Income Tax Expense | -$43M |
| Net Income from Continuing Ops | $174M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $174M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $174M |
| D&A | $208M |
| EBIT | $255M |
| EBITDA | $463M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $174M |
| Depreciation & Amortization | $208M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$49M |
| Other Non-Cash Items | -$1M |
| Change in Working Capital | -$89M |
| OPERATING CASH FLOW | $243M |
| Capital Expenditure | -$483M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$7M |
| NET CASH FROM INVESTING | -$490M |
| Net Debt Issuance | $676M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$131M |
| Other Financing Activities | $6M |
| NET CASH FROM FINANCING | $551M |
| FREE CASH FLOW | -$240M |
| Net Change in Cash | $304M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $329M |
| Short-Term Investments | $0 |
| Net Receivables | $518M |
| Inventory | $278M |
| Other Current Assets | $349M |
| TOTAL CURRENT ASSETS | $1.5B |
| PP&E (Net) | $19.4B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $696M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.2B |
| TOTAL NON-CURRENT ASSETS | $22.3B |
| TOTAL ASSETS | $23.8B |
| Account Payables | $497M |
| Short-Term Debt | $1.7B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $417M |
| TOTAL CURRENT LIABILITIES | $2.6B |
| Long-Term Debt | $9.6B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2.2B |
| Other Non-Current Liabilities | $2.2B |
| TOTAL NON-CURRENT LIABILITIES | $14.0B |
| TOTAL LIABILITIES | $16.6B |
| Common Stock | $3M |
| Additional Paid-In Capital | $3.1B |
| Retained Earnings | $4.1B |
| Treasury Stock | -$13M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $7.1B |
| TOTAL LIABILITIES & EQUITY | $23.8B |
| Total Debt | $11.3B |
| Net Debt | $11.0B |
