Q3-25 Orders Up 36.5% vs. Q2-25. Revenue and Net Income of EUR 132.7 Million and EUR 25.3 Million, Respectively
YTD-25 Revenue and Net Income of EUR 425.0 Million and EUR 88.8 Million, Respectively
New EUR 60 Million Share Repurchase Program Initiated
DUIVEN, the Netherlands, Oct. 23, 2025 (GLOBE NEWSWIRE) -- BE Semiconductor Industries N.V. (the "Company" or "Besi") (Euronext Amsterdam: BESI; OTC markets: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the third quarter and nine months ended September 30, 2025.
Key Highlights Q3-25
-- Revenue of EUR 132.7 million decreased by 10.4% vs. Q2-25 and was at the
midpoint of guidance. Revenue decreased 15.3% vs. Q3-24 principally due
to the ongoing industry downturn
-- In contrast, orders of EUR 174.7 million increased by 36.5% vs. Q2-25 and
15.1% vs. Q3-24 principally due to a significant increase in bookings by
Asian subcontractors for 2.5D datacenter and photonics applications
-- Besi's gross margin of 62.2% exceeded guidance. It decreased by 1.1
points vs. Q2-25 and 2.5 points vs. Q3-24 due primarily to adverse forex
effects from the decline of the USD vs. the euro
-- Net income of EUR 25.3 million decreased by 21.2% vs. Q2-25 and 45.9% vs.
Q3-24 due principally to lower revenue and gross margins realized. Besi's
Q3-25 net margin decreased to 19.0% vs. 21.6% in Q2-25 and 29.9% in Q3-24
-- Cash and deposits at September 30, 2025 increased by EUR 28.4 million vs.
June 30, 2025, principally due to increased cash flow generated from
operations
Key Highlights YTD-25
-- Revenue of EUR 425.0 million decreased by 6.4% vs. YTD-24 principally due
to ongoing weakness in mainstream assembly markets, particularly for
mobile and automotive applications, partially offset by increased
shipments to Asian subcontractors for data center applications and
increased shipments of hybrid bonding systems
-- Orders of EUR 434.6 million were down 6.5% vs. YTD-24 primarily due to
lower bookings for hybrid bonding and mobile applications, partially
offset by increased die attach orders by Asian subcontractors for AI
related computing applications
-- Gross margin of 63.1% decreased by 2.5 points vs. YTD-24 primarily due to
adverse forex effects
-- Net income of EUR 88.8 million decreased by EUR 33.9 million, or 27.6%,
vs. YTD-24 primarily due to lower revenue and gross margin and higher
interest expense. Similarly, Besi's net margin decreased to 20.9% versus
27.0% in YTD-24
Q4-25 Outlook
-- Revenue is expected to increase by 15-25% vs. the EUR 132.7 million
reported in Q3-25 due to increased bookings levels
-- Gross margin is expected to range between 61-63% vs. the 62.2% realized
in Q3-25
-- Operating expenses are expected to increase by 5-10% vs. the EUR 48.5
million reported in Q3-25 due to increased R&D expenses
(EUR millions,
except EPS) Q3-2025 Q2-2025 <DELTA> Q3-2024 <DELTA> YTD-2025 YTD-2024 <DELTA>
--------------- ------- ------- -------- ------- -------- -------- -------- -------
Revenue 132.7 148.1 -10.4% 156.6 -15.3% 425.0 454.1 -6.4%
Orders 174.7 128.0 +36.5% 151.8 +15.1% 434.6 464.8 -6.5%
Gross Margin 62.2% 63.3% -1.1pts 64.7% -2.5pts 63.1% 65.6% -2.5pts
Operating
Income 34.1 43.5 -21.6% 55.1 -38.1% 116.8 145.0 -19.4%
Net Income 25.3 32.1 -21.2% 46.8 -45.9% 88.8 122.7 -27.6%
Net Margin 19.0% 21.6% -2.6%pts 29.9% -10.9pts 20.9% 27.0% -6.1pts
EPS (basic) 0.32 0.40 -20.0% 0.59 -45.8% 1.12 1.56 -28.2%
EPS (diluted) 0.32 0.40 -20.0% 0.59 -45.8% 1.12 1.55 -27.7%
Net Cash and
Deposits -7.8 -36.0 -78.3% 110.7 -107.0% -7.8 110.7 -107.0%
--------------- ------- ------- -------- ------- -------- -------- -------- -------
Richard W. Blickman, President and Chief Executive Officer of Besi, commented:
"Besi reported Q3-25 revenue and operating results within prior guidance in an assembly equipment market showing early signs of recovery. Order levels improved significantly in Q3-25 with bookings of EUR 174.7 million increasing by 36.5% and 15.1% versus Q2-25 and Q3-24, respectively. For the quarter, revenue decreased by 10.4% and 15.3% versus Q2-25 and Q3-24, respectively, reflecting continued weakness in mainstream assembly markets, particularly for mobile and automotive applications, and lower hybrid bonding revenue. Operating income was higher than anticipated due to gross margin and operating expense development slightly better than forecast.
The improved order outlook this quarter was principally due to a broad-based increase in die attach bookings by Asian subcontractors for 2.5D data center applications and renewed capacity purchases by leading photonics customers. We also noticed improvement in more mainstream electronics and automotive applications. A push out to Q4-25 of certain anticipated hybrid bonding bookings limited even stronger order development during the quarter. Progress on our wafer level assembly activities continued with new customers/orders received for both Besi's hybrid bonding and TC Next systems in Q3-25.
Besi's results for the first nine months of 2025 reflected similar trends experienced in Q3-25 with revenue of EUR 425.0 million and orders of EUR 434.6 million decreasing by 6.4% and 6.5%, respectively, versus the comparable period of the prior year. In general, weakness in mobile and automotive applications this year has been partially offset by significantly increased die attach orders by Asian subcontractors for AI related computing applications. Year to date 2025 net income of EUR 88.8 million decreased by 27.6% versus the comparable 2024 period primarily due to lower revenue, lower gross margins realized primarily as a result of adverse forex effects and higher interest expense, net, related to our Senior Note issuance in July 2024.
Liquidity remained strong with cash and deposits of EUR 518.6 million at September 30, 2025 increasing by EUR 28.4 million, or 5.8%, versus June 30, 2025 due to cash flow from operations more than doubling versus Q2-25. In addition, we completed our EUR 100 million share buyback program in October 2025 and authorized a new EUR 60 million share repurchase program with an anticipated completion date of October 2026.
The outlook for Besi's business has significantly improved based on Q3-25 order trends and continued order momentum to date in Q4-25. The improved outlook reflects increased demand for advanced packaging capacity necessary to support the rapid expansion of datacenters, software and next generation semiconductor devices required by the industry's leading AI players. Advanced packaging is one of the key ways to achieve AI system differentiation, develop innovative consumer edge AI devices and provide the most energy-efficient datacenter performance.
For Q4-25, we anticipate that revenue will increase by approximately 15-25% versus Q3-25 due to increased bookings levels. Besi's gross margin is anticipated to range between 61-63%. Operating expenses are expected to increase by 5-10% versus Q3-25 due primarily to higher R&D expenses."
Share Repurchase Activity
During the quarter, Besi spent EUR 23.1 million to repurchase approximately 192,000 of its ordinary shares at an average price of EUR 119.94 per share. At September 30, 2025, EUR 95.3 million of the current EUR 100 million share repurchase authorization had been used to repurchase approximately 837,000 ordinary shares at an average price of EUR 113.80 per share. At such date, Besi held approximately 2.2 million shares in treasury, equivalent to 2.7% of shares outstanding.
On October 21, 2025, Besi completed its EUR 100 million share repurchase program by means of the following transactions:
Total repurchased Weighted average Total repurchased
Date shares price (in euro) value (in euro)
---------- -------------------- --------------------- ---------------------
17-Oct-25 2,460 142.26 349,968.95
---------- -------------------- --------------------- ---------------------
20-Oct-25 2,441 143.28 349,741.60
---------- -------------------- --------------------- ---------------------
21-Oct-25 696 144.24 100,388.12
---------- -------------------- --------------------- ---------------------
Under this program, a total of 870,825 shares were repurchased at an average price of EUR 114.83 per share. Details are available on Besi's website.
New EUR 60 Million Share Repurchase Program
Besi will initiate a new EUR 60 million share repurchase program effective October 24, 2025. The program is aimed at general capital reduction purposes and to help offset dilution related to Besi's Convertible Notes and shares issued under employee stock plans. It will be funded using Besi's available cash resources and is expected to be completed by October 2026. At present, Besi has authority until October 23, 2026, to purchase up to 10% of its shares issued, or 8.1 million shares.
The program will be executed in accordance with industry best practices and in compliance with European buyback rules and regulations and may be suspended or discontinued at any time. The program will be managed by an independent brokerage firm. All purchases will be executed through Euronext Amsterdam and Multilateral Trading Facilities as defined by the Directive 2014/65/EU of the European Parliament and of the Council of May 15, 2014 on markets in financial instruments and subject to the rules of the relevant Exchange.
Investor and media conference call A conference call and webcast for investors and media will be held today at 4:00 pm CET (10:00 am EDT). To register for the conference call and/or to access the audio webcast and webinar slides, please visit www.besi.com. ----------------------------------------------------------- Important Dates ---------------------------------------- -- Publication Q4/full year 2025 results February 19, 2026 -- Publication Q1-2026 results April 23, 2026 -- Besi's 2026 AGM April 23, 2026
Basis of Presentation
The accompanying Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as adopted by the European Union. Reference is made to the Summary of Significant Accounting Policies to the Notes to the Consolidated Financial Statements as included in our 2024 Annual Report, which is available on www.besi.com.
Contacts:
Richard W. Blickman, President & CEO
Andrea Kopp-Battaglia, Senior Vice President Finance
Claudia Vissers, Executive Secretary/IR coordinator
Edmond Franco, VP Corporate Development/US IR coordinator
Tel. (31) 26 319 4500
investor.relations@besi.com
About Besi
Besi is a leading manufacturer of assembly equipment supplying a broad portfolio of advanced packaging solutions to the semiconductor and electronics industries. We offer customers high levels of accuracy, reliability and throughput at a lower cost of ownership with a principal focus on wafer level and substrate assembly solutions. Customers are primarily leading semiconductor manufacturers, foundries, assembly subcontractors and electronics and industrial companies. Besi's ordinary shares are listed on Euronext Amsterdam (symbol: BESI). Its Level 1 ADRs are listed on the OTC markets (symbol: BESIY) and its headquarters are located in Duiven, the Netherlands. For more information, please visit our website at www.besi.com.
Caution Concerning Forward-Looking Statements
This press release contains statements about management's future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including, but not limited to, statements relating to expectations of orders, net sales, product shipments, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as "anticipate", "estimate", "expect", "can", "intend", "believes", "may", "plan", "predict", "project", "forecast", "will", "would", and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The financial guidance set forth under the heading "Outlook" contains such forward-looking statements. While these forward-looking statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from those contained in forward-looking statements, including any inability to maintain continued demand for our products; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; the extent and duration of the COVID-19 and other global pandemics and the associated adverse impacts on the global economy, financial markets, global supply chains and our operations as well as those of our customers and suppliers; failure to develop new and enhanced products and introduce them at competitive price levels; failure to adequately decrease costs and expenses as revenues decline; loss of significant customers, including through industry consolidation or the emergence of industry alliances; lengthening of the sales cycle; acts of terrorism and violence; disruption or failure of our information technology systems; consolidation activity and industry alliances in the semiconductor industry that may result in further increased customer concentration, inability to forecast demand and inventory levels for our products; the integrity of product pricing and protection of our intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, conflict minerals regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations, particularly to the extent occurring in the Asia Pacific region where we have a substantial portion of our production facilities; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; any inability to attract and retain skilled personnel, including as a result of restrictions on immigration, travel or the availability of visas for skilled technology workers.
In addition, the United States and other countries have recently levied tariffs and taxes on certain goods and could significantly increase or impose new tariffs on a broad array of goods. They have imposed, and may continue to impose, new trade restrictions and export regulations. Increased or new tariffs and additional taxes, including any retaliatory measures, trade restrictions and export regulations, could negatively impact end-user demand and customer investment in semiconductor equipment, increase Besi's supply chain complexity and manufacturing costs, decrease margins, reduce the competitiveness of our products or restrict our ability to sell products, provide services or purchase necessary equipment and supplies. Any or all of the foregoing factor could have a material and adverse effect on our business, results of operations or financial condition. In addition, investors should consider those additional risk factors set forth in Besi's annual report for the year ended December 31, 2024 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.
Consolidated Statements of Operations
Three Months Ended Nine Months Ended
(EUR thousands, except share September 30, September 30,
and per share data) (unaudited) (unaudited)
2025 2024 2025 2024
---------- ---------- ---------- ----------
Revenue 132,731 156,570 424,977 454,060
Cost of sales 50,110 55,325 156,943 156,276
Gross profit 82,621 101,245 268,034 297,784
Selling, general and
administrative expenses 28,340 27,318 91,927 97,473
Research and development
expenses 20,187 18,874 59,260 55,296
Total operating expenses 48,527 46,192 151,187 152,769
Operating income 34,094 55,053 116,847 145,015
Financial expense, net 5,128 1,560 13,780 3,194
Income before taxes 28,966 53,493 103,067 141,821
Income tax expense 3,686 6,719 14,231 19,123
Net income 25,280 46,774 88,836 122,698
------------------------------ ---------- ---------- ---------- ----------
Net income per share -- basic 0.32 0.59 1.12 1.56
Net income per share --
diluted 0.32 0.59 1.12 1.55
Number of shares used in
computing per share amounts:
- basic 79,053,456 79,630,787 79,154,770 78,701,287
- diluted(1) 81,171,504 81,876,505 81,326,814 81,978,112
------------------------------ ---------- ---------- ---------- ----------
______________________
(1) () The calculation of diluted income per share assumes the exercise of equity settled share based payments and the conversion of all Convertible Notes outstanding
Consolidated Balance Sheets
June March December
September 30,2025 30, 2025 31, 2025 31, 2024
(EUR thousands) (unaudited) (unaudited) (unaudited) (audited)
------------------ ------------------ ------------ ------------ ----------
ASSETS
Cash and cash
equivalents 348,561 330,170 405,736 342,319
Deposits 170,000 160,000 280,000 330,000
Trade receivables 150,136 178,615 170,440 181,862
Inventories 103,896 96,977 103,836 103,285
Other current
assets 46,546 53,821 46,099 40,927
Total current
assets 819,139 819,583 1,006,111 998,393
Property, plant
and equipment 52,548 51,089 42,868 44,773
Right of use
assets 14,131 13,799 15,161 15,726
Goodwill 44,840 44,857 45,610 46,010
Other intangible
assets 104,585 103,933 98,622 96,677
Investment
property 5,163 5,206 - -
Deferred tax
assets 26,683 27,494 29,240 31,567
Other non-current
assets 1,299 1,303 1,347 1,330
Total non-current
assets 249,249 247,681 232,848 236,083
Total assets 1,068,388 1,067,264 1,238,959 1,234,476
------------------ ------------------ ------------ ------------ ----------
Bank overdraft - - 840 776
Current portion of
long-term debt - - - 2,042
Trade payables 50,774 47,458 46,598 52,630
Other current
liabilities 91,654 95,530 111,170 111,531
Total current
liabilities 142,428 142,988 158,608 166,979
Long-term debt 526,388 526,184 525,493 525,653
Lease liabilities 11,467 10,873 11,770 12,350
Deferred tax
liabilities 10,009 10,523 10,416 10,320
Other non-current
liabilities 16,934 19,915 19,328 17,910
Total non-current
liabilities 564,798 567,495 567,007 566,233
Total equity 361,162 356,781 513,344 501,264
Total liabilities
and equity 1,068,388 1,067,264 1,238,959 1,234,476
------------------ ------------------ ------------ ------------ ----------
Consolidated Cash Flow Statements
Three Months Ended Nine Months Ended
September 30, September 30,
(EUR thousands) (unaudited) (unaudited)
2025 2024 2025 2024
--------- --------- --------- ---------
Cash flows from operating
activities:
Income before income tax 28,966 53,493 103,067 141,821
Depreciation and amortization 9,051 7,388 23,816 21,181
Share based payment expense 3,708 3,400 12,491 27,216
Financial expense, net 5,128 1,560 13,780 3,194
Changes in working capital 19,278 6,031 6,134 (43,914)
Interest (paid) received (4,101) 2,156 (3,262) 7,218
Income tax paid (2,270) (1,996) (25,833) (19,513)
Net cash provided by operating
activities 59,760 72,032 130,193 137,203
Cash flows from investing
activities:
Capital expenditures (1,127) (2,099) (14,624) (10,965)
Capitalized development expenses (6,364) (4,415) (20,421) (13,990)
Acquisition of investment property - - (5,206) -
Repayments of (investments in)
deposits (10,000) (200,000) 160,000 (105,000)
Net cash provided by (used in)
investing activities (17,491) (206,514) 119,749 (129,955)
Cash flows from financing
activities:
Proceeds from (payments of) bank
lines of credit - - (776) -
Proceeds from (payments of) debt - - (2,042) -
Proceeds from notes - 350,000 - 350,000
Transaction costs related to notes - (6,395) - (6,395)
Payments of lease liabilities (886) (1,080) (3,111) (3,186)
Purchase of treasury shares (23,107) (27,829) (65,892) (57,418)
Dividends paid to shareholders - - (172,811) (171,534)
Net cash used in financing
activities (23,993) 314,696 (244,632) 111,467
Net increase (decrease) in cash
and cash equivalents 18,276 180,214 5,310 118,715
Effect of changes in exchange
rates on cash and cash
equivalents 115 - 932 256
Cash and cash equivalents at
beginning of the period 330,170 127,234 342,319 188,477
Cash and cash equivalents at end
of the period 348,561 307,448 348,561 307,448
---------------------------------- --------- --------- --------- ---------
Supplemental Information (unaudited)
(EUR millions, unless stated otherwise)*
REVENUE Q3-2025 Q2-2025 Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
------------------------- ------------------- ------------------- ------------------- ------------------- ------------------- ------------------- --------------------
Per geography:
China 54.5 41% 37.5 25% 40.5 28% 42.8 28% 45.5 29% 57.5 38% 58.5 40%
Asia Pacific (excl.
China) 54.3 41% 66.1 45% 56.3 39% 53.5 35% 51.6 33% 54.1 36% 43.6 30%
EU / USA / Other 23.9 18% 44.5 30% 47.3 33% 57.1 37% 59.5 38% 39.6 26% 44.2 30%
Total 132.7 100% 148.1 100% 144.1 100% 153.4 100% 156.6 100% 151.2 100% 146.3 100%
ORDERS Q3-2025 Q2-2025 Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
------------------------- ------------------- ------------------- ------------------- ------------------- ------------------- ------------------- --------------------
Per geography:
China 65.6 38% 44.4 35% 39.7 30% 40.4 33% 45.4 30% 43.3 23% 51.1 40%
Asia Pacific (excl.
China) 80.1 46% 60.7 47% 51.7 39% 38.8 32% 69.3 46% 72.0 39% 45.0 35%
EU / USA / Other 29.0 16% 22.9 18% 40.5 31% 42.7 35% 37.1 24% 69.9 38% 31.6 25%
Total 174.7 100% 128.0 100% 131.9 100% 121.9 100% 151.8 100% 185.2 100% 127.7 100%
Per customer type:
IDM 70.6 40% 71.9 56% 48.1 36% 61.2 50% 84.5 56% 122.4 66% 53.5 42%
Foundries/Subcontractors 104.1 60% 56.1 44% 83.8 64% 60.7 50% 67.3 44% 62.8 34% 74.2 58%
Total 174.7 100% 128.0 100% 131.9 100% 121.9 100% 151.8 100% 185.2 100% 127.7 100%
HEADCOUNT Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
------------------------- ------------------- ------------------- ------------------- ------------------- ------------------- ------------------- --------------------
Fixed staff (FTE) 1,840 88% 1,831 88% 1,820 88% 1,812 93% 1,807 87% 1,783 86% 1,760 88%
Temporary staff (FTE) 245 12% 239 12% 251 12% 134 7% 271 13% 279 14% 236 12%
Total 2,085 100% 2,070 100% 2,071 100% 1,946 100% 2,078 100% 2,062 100% 1,996 100%
OTHER FINANCIAL DATA Q3-2025 Q2-2025 Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
------------------------- ------------------- ------------------- ------------------- ------------------- ------------------- ------------------- --------------------
Gross profit 82.6 62.2% 93.7 63.3% 91.7 63.6% 98.2 64.0% 101.2 64.7% 98.3 65.0% 98.3 67.2%
Selling, general and
admin expenses:
As reported 28.3 21.3% 30.6 20.7% 33.0 22.9% 28.6 18.6% 27.3 17.4% 30.5 20.2% 39.6 27.1%
Share-based
compensation
expense (3.7) -2.8% -4.3 -2.9% -4.4 -3.1% -2.9 -1.8% (3.4) -2.1% (6.9) -4.6% (16.9) -11.6%
SG&A expenses as
adjusted 24.6 18.5% 26.3 17.8% 28.6 19.8% 25.7 16.8% 23.9 15.3% 23.6 15.6% 22.7 15.5%
Research and development
expenses:
As reported 20.2 15.2% 19.6 13.2% 19.5 13.5% 19.0 12.4% 18.9 12.1% 18.5 12.2% 17.9 12.2%
Capitalization of R&D
charges 6.4 4.8% 7.3 4.9% 6.7 4.6% 5.4 3.5% 4.4 2.8% 4.9 3.2% 4.7 3.2%
Amortization of
intangibles (5.6) -4.2% -3.9 -2.6% -3.7 -2.5% -3.9 -2.5% (3.9) -2.5% (3.6) -2.3% (3.6) -2.4%
R&D expenses as
adjusted 21.0 15.8% 23.0 15.5% 22.5 15.6% 20.5 13.4% 19.4 12.4% 19.8 13.1% 19.0 13.0%
Financial expense
(income), net:
Interest income (2.7) -3.4 -5.0 -5.1 (5.2) (3.0) (4.0)
Interest expense 6.1 6.4 6.3 6.1 5.7 2.1 2.8
Net cost of hedging 2.4 2.3 1.8 2.0 1.9 1.4 1.6
Foreign exchange
effects, net (0.7) 0.4 -0.1 0.9 (0.8) 0.5 0.2
Total 5.1 5.7 3.0 3.9 1.6 1.0 0.6
Operating income (as % of
net sales) 34.1 25.7% 43.5 29.4% 39.3 27.2% 50.6 33.0% 55.1 35.2% 49.3 32.6% 40.7 27.8%
EBITDA (as % of net
sales) 43.1 32.5% 50.9 34.4% 46.6 32.3% 58.0 37.8% 62.4 39.8% 56.2 37.2% 47.5 32.5%
Net income (as % of net
sales) 25.3 19.0% 32.1 21.6% 31.5 21.9% 59.3 38.6% 46.8 29.9% 41.9 27.7% 34.0 23.2%
Effective tax rate 12.7% 15.2% 13.2% -27.0% 12.6% 13.0% 15.3%
Income per share
Basic 0.32 0.40 0.40 0.75 0.59 0.53 0.44
Diluted 0.32 0.40 0.40 0.74 0.59 0.53 0.44
Average shares
outstanding (basic) 79,053,456 79,184,703 79,228,071 79,402,192 79,630,787 79,281,533 77,181,326
Shares repurchased
Amount 23.1 20.7 22.1 22.4 27.8 14.8 14.8
Number of shares 192,461 195,647 186,869 198,450 230,807 105,042 101,049
Gross cash 518.6 490.2 685.7 672.3 637.4 257.2 447.1
Net cash (7.8) (36.0) 159.4 143.8 110.7 74.4 180.9
*Totals may not add up exactly due to rounding.
(END) Dow Jones Newswires
October 23, 2025 05:24 ET (09:24 GMT)