| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.2B | $2.0B | $2.1B | 10.6% | 8.4% |
| Op. Income | $569M | $406M | $428M | 40.1% | 32.9% |
| Gross Margin | 44.7% | 41.0% | 40.7% | 3.6pp | 4.0pp |
| Net Margin | 14.2% | 9.0% | 10.4% | 5.2pp | 3.8pp |
| EPS (Diluted) | $0.43 | $0.25 | $0.29 | 72.0% | 48.3% |
| Free Cash Flow | -$179M | -$328M | $102M | 45.4% | -275.5% |
| Item | Amount |
|---|---|
| REVENUE | $2.2B |
| Cost of Revenue | $1.2B |
| GROSS PROFIT | $1.0B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $431M |
| Operating Expenses | $431M |
| Cost & Expenses | $1.7B |
| OPERATING INCOME | $569M |
| Interest Income | $6M |
| Interest Expense | $210M |
| Other Income/Expenses | -$171M |
| INCOME BEFORE TAX | $398M |
| Income Tax Expense | $80M |
| Net Income from Continuing Ops | $318M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $318M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $318M |
| D&A | $341M |
| EBIT | $608M |
| EBITDA | $949M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $2.2B |
| Cost of Revenue | $1.2B |
| GROSS PROFIT | $1.0B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $431M |
| Operating Expenses | $431M |
| Cost & Expenses | $1.7B |
| OPERATING INCOME | $569M |
| Interest Income | $6M |
| Interest Expense | $210M |
| Other Income/Expenses | -$171M |
| INCOME BEFORE TAX | $398M |
| Income Tax Expense | $80M |
| Net Income from Continuing Ops | $318M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $318M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $318M |
| D&A | $341M |
| EBIT | $608M |
| EBITDA | $949M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $318M |
| Depreciation & Amortization | $357M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $73M |
| Other Non-Cash Items | -$22M |
| Change in Working Capital | $240M |
| OPERATING CASH FLOW | $966M |
| Capital Expenditure | -$1.1B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | -$1.1B |
| Net Debt Issuance | $1.2B |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$201M |
| Other Financing Activities | -$21M |
| NET CASH FROM FINANCING | $982M |
| FREE CASH FLOW | -$179M |
| Net Change in Cash | $801M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.1B |
| Short-Term Investments | $0 |
| Net Receivables | $1.5B |
| Inventory | $517M |
| Other Current Assets | $393M |
| TOTAL CURRENT ASSETS | $3.6B |
| PP&E (Net) | $35.2B |
| Goodwill | $2.2B |
| Intangible Assets | $312M |
| Long-Term Investments | $1M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.6B |
| TOTAL NON-CURRENT ASSETS | $40.3B |
| TOTAL ASSETS | $43.9B |
| Account Payables | $1.2B |
| Short-Term Debt | $2.0B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.3B |
| TOTAL CURRENT LIABILITIES | $4.7B |
| Long-Term Debt | $16.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3.7B |
| Other Non-Current Liabilities | $4.2B |
| TOTAL NON-CURRENT LIABILITIES | $24.8B |
| TOTAL LIABILITIES | $29.5B |
| Common Stock | $8M |
| Additional Paid-In Capital | $12.4B |
| Retained Earnings | $3.1B |
| Treasury Stock | -$901M |
| Accum. Other Comp. Income | -$193M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $14.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $14.4B |
| TOTAL LIABILITIES & EQUITY | $43.9B |
| Total Debt | $19.0B |
| Net Debt | $17.9B |
