- Adjusted EBITDA grew 5%, exceeding the top end of the outlook, with margins improving 200 basis points sequentially.
- Adjusted EPS was $1.36, meeting expectations despite higher depreciation and amortization expenses.
- Banking EBITDA margin contracted 70 basis points due to an $8 million bad debt charge; Capital Markets margin contracted 50 basis points due to acquisition-related dilution.
- Banking revenue grew 6%, above the high end of guidance, driven by commercial excellence and strong client retention.
- Capital Markets revenue grew 5%, slightly below expectations due to temporary slowdown in loan syndication activity.
- FIS delivered 5% revenue growth in Q2 2025, accelerating from 4% in Q1, driven primarily by momentum in the Banking segment.
- Free cash flow was $292 million with a cash conversion rate of 52% in Q2, and 61% year-to-date, improving from 53% prior year.
- Leverage increased modestly to 3x, or 2.9x excluding currency impacts, with a long-term target of 2.8x.
- Recurring revenue represented 81% of total revenue, growing 6% overall with 7% growth in Banking recurring revenue.
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- Aflac Japan saw a 23.2% year-over-year sales increase, driven by a 53% increase in cancer insurance sales, particularly from the Miraito product.
- Aflac reported adjusted earnings per diluted share of $1.78 for Q2 2025, a 2.7% decrease year-over-year, with a $0.04 positive FX impact.
- Aflac U.S. net earned premium increased 3.4%, with premium persistency rising to 79.2%.
- Capital deployment included $829 million in share repurchases and $312 million in dividends, totaling $1.1 billion returned to shareholders.
- Expense ratios improved in both Japan and U.S., with Japan's expense ratio at 20.6% and U.S. at 36.3%.
- Japan's total benefit ratio improved by 40 basis points to 66.5%, and persistency increased to 93.7%.
- Net earned premiums declined 4.8% in Japan but underlying earned premiums declined only 1.1%, indicating improving long-term premium trends.
- Net earnings per diluted share were $1.11, reflecting solid results for the quarter and a strong first half of the year.
- Strong capital ratios were maintained with SMR above 900%, regulatory ESR above 240%, and combined RBC greater than 600%.
- U.S. total benefit ratio was 47.3%, slightly higher by 60 basis points due to business mix, with a pretax margin of 22.5%.
- Book value per share increased by 16% since year-end 2024.
- Diluted operating earnings per share was $4.78 for the quarter compared to $3.75 in Q2 2024.
- Expense ratio improved to 20.7% from 21.1% last year, benefiting from ceding commissions and expense management.
- In Q2 2025, Kinsale's operating earnings per share increased by 27.5% and gross written premium grew by 4.9% over Q2 2024.
- Net income and net operating earnings increased by 44.9% and 27.4%, respectively.
- Net investment income increased by 29.6% due to portfolio growth from strong operating cash flows.
- The company posted a combined ratio of 75.8% and a 6-month operating return on equity of 24.7%.
- Cash same-store net operating income (NOI) rose 6.4% for the quarter despite lower occupancy.
- Debt to total market capitalization was 14.2%, unadjusted debt-to-EBITDA ratio was 3.0x, and interest and fixed charge coverage increased to 16x.
- FFO per share for Q2 met the high end of guidance range and increased from $2.05 in the prior year quarter.
- Funds from operations (FFO) were $2.21 per share in Q2 2025, up 7.8% year-over-year excluding involuntary conversions.
- Quarter-end leasing was 97.1% with occupancy at 96%, and average quarterly occupancy was 95.9%, down 110 basis points from Q2 2024.
- Quarterly re-leasing spreads were 44% GAAP and 30% cash; year-to-date spreads were similar at 46% GAAP and 31% cash.
- Tenant collections remain healthy with uncollectible rents estimated at 35 to 45 basis points of revenues, slightly better than historic run rate.
- Top 10 tenants accounted for 6.9% of rents, down 90 basis points from last year, reflecting increased tenant and geographic diversification.
- Adjusted EBITDA was $64 million, representing a 16% margin and $18 million above the midpoint of guidance.
- GAAP net income was $6.5 million, a significant improvement from a $12.1 million net loss in Q2 2024.
- Marketing spend was $79.8 million, up 10.4% year-over-year but declined as a percentage of revenue to 19.4%.
- Quarterly active customers increased 24% year-over-year to over 8.5 million.
- Remitly reported Q2 2025 revenue of $411.9 million, up 34% year-over-year, exceeding guidance by $28 million.
- Send volume grew 40% to $18.5 billion, with send volume per active customer increasing a record 12% year-over-year.
- Stock-based compensation was $38.1 million, 9.2% of revenue, down 288 basis points from prior year.
- Technology and development expenses grew 15% year-over-year but improved as a percentage of revenue.
- Transaction expenses were $143.8 million or 34.9% of revenue, with provision for transaction losses at $28 million due to a fraud incident.
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