Dafinchi AI

Ryman Hospitality Properties, Inc.

RHP

2025 Q2

Financial Services

2mo

Financial Performance Summary

Entertainment segment posted record revenue of $143 million and adjusted EBITDAre of $34 million, driven by investments in Category 10, Block 21, and Southern Entertainment, though margin declined due to investments and one-time tax refunds.
Group rooms revenue on the books for 2026 and 2027 is up 9% and 10% respectively compared to the same time last year, with mid-single digit ADR growth.
Leisure demand increased approximately 4% year-over-year, driven by strong performance at Gaylord Palms and Gaylord Rockies, partially offset by softness at Gaylord Opryland due to new hotel supply in Nashville.
RevPAR was essentially flat year-over-year, with total RevPAR declining 160 basis points, impacted by Easter timing and a shift to higher association group mix with lower banquet and AV revenue.
Ryman Hospitality Properties delivered record consolidated revenue in Q2 2025 with the same-store hospitality segment achieving the second-highest adjusted EBITDAre in its history, trailing only Q2 2024.
Same-store hospitality segment adjusted EBITDAre was $187 million, down approximately $18 million year-over-year, with a 280 basis point margin decline due to timing of Easter, group mix shift, one-time franchise tax refunds last year, and wage increases.
Year-to-date same-store hospitality adjusted EBITDAre came within $30,000 of the original operating plan despite a complex operating environment.

Old Republic International Corporation

ORI

2025 Q2

Financial Services

3mo

Financial Performance Summary

Book value per share increased over 12.6% to $25.14, driven by strong operating earnings and higher investment valuations.
Favorable prior year loss reserve development continued, benefiting the consolidated loss ratio by 2.1 percentage points.
Net investment income increased 2.4% due to higher bond yields despite a lower invested asset base after a $500 million special dividend.
Net operating income was $209 million for the quarter, up from $202 million last year, with earnings per share increasing 9% to $0.83 from $0.76.
Old Republic International produced $267.5 million of consolidated pretax operating income in Q2 2025, up from $253.8 million in Q2 2024.
Regular cash dividends of $71 million were paid, with minimal share repurchases during the quarter.
Specialty Insurance net premiums earned grew 14.6% with pretax operating income of $253.7 million, up from $202.5 million last year, and a combined ratio improvement to 90.7 from 92.4.
The consolidated combined ratio was 93.6 compared to 93.5 in the prior year quarter.
Title Insurance premiums and fees earned grew 5.2% to $698 million, but pretax operating income declined to $24.2 million from $46 million, with the combined ratio rising to 99 from 95.4.

The Macerich Company

MAC

2025 Q2

Financial Services

2mo

Financial Performance Summary

FFO adjusted for the quarter was approximately $87 million or $0.33 per share in Q2 2025.
Go-Forward Portfolio Centers NOI increased 2.4% in Q2 2025 compared to Q2 2024, with a 2% increase year-to-date.
Net debt to EBITDA was 7.9x at the end of Q2 2025, nearly a full turn lower than at the outset of the Path Forward plan.
Occupancy at the end of Q2 was 92%, down 60 basis points due to Forever 21 store closures; go-forward portfolio occupancy was 92.8%.
Portfolio sales at the end of Q2 were $849 per square foot, up $12 from Q1 2025; go-forward portfolio sales were $906 per square foot.
Trailing 12-month leasing spreads remained positive at 10.5%, marking 15 consecutive quarters of positive spreads.

Royalty Pharma plc

RPRX

2025 Q2

Financial Services

2mo

Financial Performance Summary

Capital deployment totaled $595 million, including $250 million upfront for Revolution Medicines and $200 million milestone payment related to Adstiladrin.
Cash and equivalents stood at $632 million with investment-grade debt of $8.2 billion and leverage at approximately 3x total debt to EBITDA.
Net interest was a positive $8 million due to timing of interest payments and cash interest received.
Operating and professional costs were 12.9% of Portfolio Receipts including a $35 million one-time internalization expense; excluding this, costs were just over 8%.
Portfolio cash flow (adjusted EBITDA less net interest paid) was $641 million, representing an 88% margin.
Royalty Pharma delivered 20% growth in Portfolio Receipts to $727 million in Q2 2025, exceeding guidance of $700 million to $725 million.
Royalty Receipts grew 11% to $672 million, contributing to 11% growth in the first half of 2025.
Weighted average share count declined by 35 million shares due to share buybacks.

RLJ Lodging Trust

RLJ

2025 Q2

Financial Services

2mo

Flat Operating Expense Growth Despite Soft Top-Line

0% operating expense growth

These and many other initiatives allowed our portfolio to achieve flat operating expense growth compared to last year, which limited our margin compression to just 90 basis points.

KKR & Co. Inc.

KKR

2025 Q2

Financial Services

2mo

Financial Performance Summary

Fee-related performance revenues were $54 million, up 45% year-over-year, driven by offshore Infrastructure K-Series vehicle performance allocation.
Fee-related performance revenues were $54 million, up 45% year-over-year, driven by performance allocation from offshore Infrastructure K-Series vehicle.
FRE margin improved by 360 basis points to 69%, and FRE per share increased 33% over the last 12 months.
FRE margin improved by 360 basis points to 69%, and FRE per share increased 33% over the last 12 months ending June 30, 2025.
Insurance segment operating earnings were $278 million, modestly ahead of prior guidance of $250 million plus/minus, with all-in pretax ROE approaching 20%.
Insurance segment operating earnings were $278 million, modestly ahead of prior guidance of $250 million plus/minus, with pretax ROE approaching 20% when including related economics.
KKR reported fee-related earnings (FRE) of $0.98 per share, total operating earnings (TOE) of $1.33 per share, and adjusted net income (ANI) of $1.18 per share for Q2 2025, all among the highest in company history.
Management fees in Q2 were $996 million, up 18% year-over-year, driven by Americas XIV fund activation and broader fundraising and deployment initiatives.
Private equity portfolio appreciated 5% in the quarter and 13% over 12 months; Real Assets and Credit portfolios showed positive returns across sub-segments.
Private equity portfolio appreciated 5% in the quarter and 13% over the last 12 months; Real Assets and Credit portfolios also showed positive returns.
Realized performance income was $419 million and realized investment income was $154 million, driven by public secondary sales, private transactions, and K-PRIME crystallization.
Strategic Holdings operating earnings were $29 million, with nearly 80% of segment earnings driven by recurring earnings streams.
Strategic Holdings operating earnings were $29 million, with nearly 80% of segment earnings from recurring streams over the last 12 months.
Total transaction and monitoring fees were $234 million, with $200 million from Capital Markets, over half from European activities.
Total transaction and monitoring fees were $234 million, with Capital Markets transaction fees at $200 million, over half from European activities.

Earnings Feed

Financial Performance Summary

Explore Similar Insights

Financial Performance Summary

Financial Performance Summary

Financial Performance Summary

Flat Operating Expense Growth Despite Soft Top-Line

Financial Performance Summary