- Adjusted noninterest expense rose 1% sequentially and 3% year-over-year, with disciplined expense control and higher employment costs.
- Adjusted noninterest revenue increased 12% sequentially and 3% year-over-year, driven by capital markets fees rebound and wealth management income growth.
- Adjusted pre-provision net revenue rose 5% sequentially and 7% year-over-year.
- Capital ratios strengthened, with CET1 ratio at 10.91%, the highest in company history, supported by earnings and share repurchases.
- Core deposits declined 2% sequentially, driven by public funds and broker deposits, but deposit costs improved with a 4 basis point decline in average cost of deposits to 2.22%.
- Credit quality improved with net charge-offs at $18 million (17 basis points), better than guidance, and nonperforming loans decreased to 0.59% of total loans.
- Loan balances increased by $888 million or 2% sequentially, with strong growth in high-growth verticals and specialty lending.
- Net interest margin expanded modestly to 3.37%, with net interest income growing 6% year-over-year.
- Synovus reported GAAP and adjusted earnings per share of $1.48, a 14% increase from the first quarter and 28% year-over-year.
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- Adjusted EBITDA margins excluding acquisition drag would have been 53%, with expectations of higher operating leverage as the year progresses.
- Adjusted free cash flow was $118 million in Q2, representing 57% free cash flow conversion, on track for 50%+ conversion for the full year.
- Blended spreads improved to 62.6 basis points compared to 61.5 basis points in Q2 2024, exceeding full-year guidance.
- GAAP net income was $41 million with diluted EPS of $0.32, and non-GAAP adjusted net income was $109 million or $1.10 per share on a fully diluted basis.
- Gross revenue less network fees grew 29% year-over-year to $413 million, and adjusted EBITDA increased 26% to $205 million with adjusted EBITDA margins at 49.6%.
- Shift4 reported 25% year-over-year growth in payment volumes to $50 billion, marking the first quarter with over $50 billion in payment volumes.
- Subscription and other revenues grew 37% year-over-year to $97.7 million, setting a Q2 record.
- Adjusted EBITDA increased 35% year-over-year to $45 million, driven by improved results in Pacific Northwest Timber and Real Estate segments.
- Net income attributable to Rayonier was $409 million or $2.63 per share, including a $404 million gain from the sale of the New Zealand joint venture.
- Pacific Northwest Timber segment adjusted EBITDA rose 17% despite a 15% decline in harvest volumes, supported by higher log prices and lower costs.
- Pro forma net income excluding discontinued operations was $10 million or $0.06 per share.
- Rayonier reported second quarter 2025 sales of $107 million and operating income of $15 million.
- Real Estate segment adjusted EBITDA was $19 million, significantly above guidance, due to strong demand and accelerated transaction timing.
- Southern Timber segment adjusted EBITDA declined 16% due to lower harvest volumes and a 14% decrease in weighted average stumpage prices.
- Consolidated adjusted EBITDA was $67 million, or 11.3% of revenue, up from $63.5 million in 2024.
- Four Technologies delivered eighth consecutive quarter of triple-digit GMV and revenue growth, generating $11.1 million adjusted EBITDA year-to-date with 23% margin.
- Non-GAAP diluted EPS of $0.90 exceeded guidance range of $0.70 to $0.75, marking the third consecutive earnings beat this year.
- Progressive Leasing GMV declined 10% year-over-year to $410.9 million, but adjusted for Big Lots and tightening, underlying GMV grew mid-single digits.
- Progressive Leasing gross margin expanded by approximately 80 basis points year-over-year to 32%.
- Q3 2025 consolidated revenue was $590.1 million, slightly down year-over-year due to Big Lots bankruptcy and smaller lease portfolio.
- Q3 Progressive Leasing EBITDA was $64.5 million or 11.6% of revenue, within the 11%-13% margin target.
- Write-offs improved to 7.4%, within targeted 6% to 8% annual range, showing sequential and year-over-year improvement.
- Adjusted EBITDA was $73.5 million, exceeding the high end of outlook, with Progressive Leasing adjusted EBITDA at $69.7 million or 12.2% of revenue.
- Four Technologies delivered over 200% revenue growth and 167% GMV growth year-over-year, achieving profitability in Q1 and Q2 2025.
- Gross margin for Progressive Leasing was 32.4%, down 15 basis points year-over-year, impacted by increased 90-day purchase option utilization and Big Lots loss.
- Non-GAAP EPS was $1.02, significantly exceeding the outlook range of $0.75 to $0.85 per share.
- PROG Holdings delivered revenue and earnings above the high end of guidance in Q2 2025, with consolidated revenue of $604.7 million, representing low single-digit growth year-over-year.
- Progressive Leasing segment GMV was $413.9 million, down 8.9% year-over-year due to Big Lots bankruptcy and tightening actions, but up approximately 1% excluding Big Lots impact.
- SG&A expenses increased to $78.9 million or 13.8% of revenue, reflecting investments in technology and sales enablement.
- Write-offs came in at 7.5%, 20 basis points better than last year, within the targeted annual range of 6% to 8%.
- Credit quality remained solid with nonaccruing loans at 51 basis points and past due loans at 27 basis points; provision for credit losses was $600,000 and net charge-offs were $647,000.
- In-market deposits increased 1% quarter-over-quarter and 9% year-over-year, while brokered deposits declined $25 million and FHLB borrowings rose $151 million.
- Net income for Q2 2025 was $13.2 million or $0.68 per share, up from $12.2 million and $0.63 per share in Q1 2025.
- Net interest income increased 2% quarter-over-quarter to $37.2 million with a margin of 2.36%, up 7 basis points.
- Noninterest income was $17.1 million, excluding a $7 million sale leaseback gain in Q1, adjusted noninterest income rose 9%.
- Total loans grew by $44 million (1%), with commercial loans up 2% and residential loans down 1%.
- Wealth management revenue increased 2% to $10.1 million, mortgage banking revenue rose 32% to $3 million.
Dafinchi