| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.0B | $2.5B | $1.9B | -19.1% | 7.7% |
| Op. Income | $406M | $678M | $390M | -40.1% | 4.1% |
| Gross Margin | 41.0% | 44.4% | 42.6% | -3.4pp | -1.6pp |
| Net Margin | 9.0% | 16.5% | 10.1% | -7.5pp | -1.1pp |
| EPS (Diluted) | $0.25 | $0.56 | $0.26 | -55.4% | -3.8% |
| Free Cash Flow | -$328M | -$280M | $96M | -17.1% | -441.7% |
| Item | Amount |
|---|---|
| REVENUE | $2.0B |
| Cost of Revenue | $1.2B |
| GROSS PROFIT | $831M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $425M |
| Operating Expenses | $425M |
| Cost & Expenses | $1.6B |
| OPERATING INCOME | $406M |
| Interest Income | $2M |
| Interest Expense | $199M |
| Other Income/Expenses | -$176M |
| INCOME BEFORE TAX | $230M |
| Income Tax Expense | $47M |
| Net Income from Continuing Ops | $183M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $183M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $183M |
| D&A | $353M |
| EBIT | $429M |
| EBITDA | $782M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $2.0B |
| Cost of Revenue | $1.2B |
| GROSS PROFIT | $831M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $425M |
| Operating Expenses | $425M |
| Cost & Expenses | $1.6B |
| OPERATING INCOME | $406M |
| Interest Income | $2M |
| Interest Expense | $199M |
| Other Income/Expenses | -$176M |
| INCOME BEFORE TAX | $230M |
| Income Tax Expense | $47M |
| Net Income from Continuing Ops | $183M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $183M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $183M |
| D&A | $353M |
| EBIT | $429M |
| EBITDA | $782M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $183M |
| Depreciation & Amortization | $353M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $66M |
| Other Non-Cash Items | -$42M |
| Change in Working Capital | $42M |
| OPERATING CASH FLOW | $602M |
| Capital Expenditure | -$930M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$930M |
| Net Debt Issuance | $508M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$202M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $306M |
| FREE CASH FLOW | -$328M |
| Net Change in Cash | -$22M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $294M |
| Short-Term Investments | $0 |
| Net Receivables | $1.5B |
| Inventory | $504M |
| Other Current Assets | $395M |
| TOTAL CURRENT ASSETS | $2.9B |
| PP&E (Net) | $34.4B |
| Goodwill | $2.2B |
| Intangible Assets | $312M |
| Long-Term Investments | $4M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.5B |
| TOTAL NON-CURRENT ASSETS | $39.4B |
| TOTAL ASSETS | $42.4B |
| Account Payables | $1.1B |
| Short-Term Debt | $2.5B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $846M |
| TOTAL CURRENT LIABILITIES | $5.0B |
| Long-Term Debt | $15.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3.6B |
| Other Non-Current Liabilities | $4.2B |
| TOTAL NON-CURRENT LIABILITIES | $23.1B |
| TOTAL LIABILITIES | $28.1B |
| Common Stock | $8M |
| Additional Paid-In Capital | $12.3B |
| Retained Earnings | $3.0B |
| Treasury Stock | -$902M |
| Accum. Other Comp. Income | -$190M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $14.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $14.3B |
| TOTAL LIABILITIES & EQUITY | $42.4B |
| Total Debt | $17.8B |
| Net Debt | $17.5B |
