Dafinchi AI

ULCC

Industrial

Adjusted nonfuel operating expenses were $774 million or $0.075 per available seat mile, up due to lower aircraft utilization and fleet growth.
Fleet totaled 164 aircraft at quarter end, with 3 A321neos delivered and 2 A320ceos returned.
Fuel expense was $230 million, 20% lower than Q2 2024, driven by a 17% decrease in average fuel cost and improved fuel efficiency.
Liquidity ended at $766 million, including $561 million in unrestricted cash and $205 million available on revolving credit.
Load factor improved to 79%, up 1.2 percentage points year-over-year.
Q2 pre-tax and net loss were both $70 million, with net loss per share of $0.31.
RASM was $0.0901, and stage length adjusted RASM was $0.0874, slightly higher than last year.
Total revenue in Q2 2025 was $929 million, down 5% year-over-year on 2% lower capacity.

WNC

Industrial

Adjusted EBITDA was $16 million or 3.6% of sales.
Adjusted net income was negative $6.1 million or negative $0.15 per diluted share, beating expectations due to higher revenue and cost containment.
Capital allocation included $6 million traditional CapEx, $0.7 million invested in Trailers as a Service, $10.4 million share repurchases, and $3.4 million dividends.
Gross margins were 9% with breakeven adjusted operating margins.
In Q2 2025, Wabash reported consolidated revenue of $459 million, slightly better than expectations and at the top end of guidance.
Liquidity was $312 million with a net debt leverage ratio of 6.2x as of June 30.
Parts and Services segment generated $60 million revenue and $9.1 million operating income, showing sequential and year-over-year growth.
Transportation Solutions segment generated $400 million revenue and $13 million operating income.
Year-to-date operating cash flow was negative $16.1 million due to timing of revenue and working capital drag.

Industrial

Adjusted diluted EPS grew nearly 30% year-over-year to $0.27, exceeding expectations.
Adjusted EBITDA was $114 million with a margin of 29.2%, improving by 270 basis points versus prior year pro forma.
Adjusted operating cash flow increased 17% year-over-year to nearly $48 million.
First Advantage reported Q2 2025 revenues of $391 million, up 1.5% year-over-year on a pro forma basis.
Net leverage ratio was 4.3x on a synergized pro forma adjusted EBITDA basis at quarter end.
Retention remained strong at over 96%, with combined new logo, upsell, and cross-sell revenue growing 9% in the quarter.
Voluntary debt repayments totaled over $45 million year-to-date, including $25 million post-quarter in August.

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