Market Newsdesk

BEIJING
, April 22, 2025 /PRNewswire/ — Gaotu Techedu Inc. (NYSE: GOTU) (“Gaotu” or the “Company”), a technology-driven education company and online large-class tutoring service provider in China, today filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the U.S. Securities and Exchange Commission. The annual report on Form 20-F can be accessed on the Company’s investor relations website at https://ir.gaotu.cn/.

The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to Investor Relations Department, Gaotu Techedu Inc., 5F, Gientech Building, 17 East Zone, 10 Xibeiwang East Road, Haidian District, Beijing 100193, People’s Republic of China.

About Gaotu Techedu Inc.

Gaotu is a technology-driven education company and online large-class tutoring service provider in China. The Company offers learning services and educational content & digitalized learning products. Gaotu adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates every aspect of the Company’s business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency.

For further information, please contact:

Gaotu Techedu Inc.
Investor Relations
E-mail: [email protected] 

Piacente Financial Communications
Brandi Piacente
Tel: +1 212 481-2050
Jenny Cai
Tel: +86 10 6508-0677
Email: [email protected]

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SOURCE Gaotu Techedu Inc.

Surge correlates with accelerated adoption of AI-powered applications

CAMBRIDGE, Mass.
, April 22, 2025 /PRNewswire/ — Akamai Technologies, Inc. (NASDAQ: AKAM), the cybersecurity and cloud computing company that powers and protects business online, today released a new State of the Internet (SOTI) report that finds there were 311 billion web attacks in 2024, representing a 33% year-over-year increase. State of Apps and API Security 2025: How AI Is Shifting the Digital Terrain notes the surge in these attacks correlates to the rapid adoption of artificial intelligence (AI) applications, which expand attack surfaces and introduce new security challenges.

The report also finds that APIs have emerged as primary targets, with Akamai documenting 150 billion API attacks from January 2023 through December 2024. The AI API market is growing rapidly and the integration of AI-driven tools with core platforms via APIs has substantially expanded this attack surface. The majority of AI-powered APIs are externally accessible and many rely on inadequate authentication mechanisms, a vulnerability compounded by the growing array of AI-driven attacks targeting them. Akamai notes that AI-powered APIs are even more vulnerable than their counterparts as AI fuels technical advancements for threat actors.

In addition, Akamai documents a dramatic rise in Layer 7 (application-layer) distributed denial-of-service (DDoS) attacks against web applications and APIs. Quarterly attack volumes increased 94% year-over-year between Q1 2023 and Q4 2024. In early 2023, Akamai observed monthly numbers of 500 billion, which rose to 1.1 trillion in one month by December 2024. This growth is due to the growing sophistication of bot-driven attacks, the persistence of HTTPS flooding as a primary attack vector, and the prevalence of Layer 7 DDoS attacks targeting the high technology industry.

Other key findings of the report include:

• There were more than 230 billion web attacks targeting commerce organizations, making it the most impacted industry. This is nearly triple the number of attacks experienced by high technology (the second most attacked sector).
• There were 7 trillion Layer 7 DDoS attacks targeting the high technology sector from January 2023 through December 2024, making it the most affected industry.
• OWASP API Security Top 10–related incidents increased 32%, revealing authentication and authorization flaws that expose sensitive data and functionality.
• Growth in security alerts related to the MITRE security framework are up 30% as attackers are using advanced techniques such as automation and AI to exploit APIs.
• Shadow and zombie APIs present particularly vulnerable attack vectors within increasingly complex API ecosystems.

State of Apps and API Security 2025: How AI Is Shifting the Digital Terrain also contains a security spotlight on an API attack against an ecommerce company, an explanation of the differences between web and API attacks, regional and industry attack data, and recommended mitigation strategies. The report provides unique insights on risk scoring and technical methods that are designed to assist frontline defenders.

“AI is transforming web and API security, enhancing threat detection but also creating new challenges,” said Rupesh Chokshi, Senior Vice President and General Manager of Akamai’s Application Security Portfolio. “This report is a must read to understand what’s driving the shift and how defenders can stay ahead with the right mitigation strategies.”

This is the 11th year of Akamai’s SOTI reports. The SOTI series provides expert insights on cybersecurity and web performance and is based on data gathered from our network infrastructure, which processes more than one-third of global web traffic.

About Akamai

Akamai is the cybersecurity and cloud computing company that powers and protects business online. Our market-leading security solutions, superior threat intelligence, and global operations team provide defense in depth to safeguard enterprise data and applications everywhere. Akamai’s full-stack cloud computing solutions deliver performance and affordability on the world’s most distributed platform. Global enterprises trust Akamai to provide the industry-leading reliability, scale, and expertise they need to grow their business with confidence. Learn more at akamai.com and akamai.com/blog, or follow Akamai Technologies on X and LinkedIn.

Contact:

Akamai PR
[email protected]

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SOURCE Akamai Technologies, Inc.

• GAAP sales of $6.0 billion
  , down 1.0% YoY; operating margin 20.9%, up 180 bps YoY; EPS of $2.04, up 61% YoY
  • Adjusted sales of $5.8 billion with organic growth of 1.5% YoY
  • Adjusted operating margin of 23.5%, up 220 bps YoY
  • Adjusted EPS of $1.88, up 10% YoY
• Operating cash flow of $(0.1) billion with adjusted free cash flow of $0.5 billion
• Updated 2025 guidance and providing tariff sensitivity

ST. PAUL, Minn.
, April 22, 2025 /PRNewswire/ — 3M (NYSE: MMM) today reported first-quarter 2025 results.

“We had strong results in the first quarter with positive organic sales growth, margins ahead of expectations and double-digit EPS growth,” said William Brown, 3M Chairman and Chief Executive Officer. “In this dynamic environment we remain focused on improving the fundamentals in the business, building a new performance culture and advancing our strategic priorities while leveraging our extensive global network and significant U.S. footprint. I want to thank the 3M team for their hard work, dedication, and relentless focus on improving every day.”

First
-quarter highlights:

• GAAP EPS of $2.04 and operating margin of 20.9%.
• Adjusted EPS of $1.88, up 10% year-on-year.
• Adjusted operating income margin of 23.5%, an increase of 2.2 percentage points year-on-year.

• Sales of $6.0 billion, down 1.0% year-on-year with organic sales down 0.3% year-on-year.
• Adjusted sales of $5.8 billion, up 0.8% year-on-year with adjusted organic sales up 1.5% year-on-year.
• 3M returned $1.7 billion to shareholders via dividends and share repurchases.
• Cash from operations of $(0.1) billion.
• Adjusted free cash flow of $0.5 billion.

This document includes reference to certain non-GAAP measures. See the “Supplemental Financial Information Non-GAAP Measures” section for applicable information.

Update on 2025 guidance

• Adjusted EPS¹ in the range of $7.60 to $7.90, and additional tariff sensitivity of $(0.20) to $(0.40) per share.

¹As further discussed at ⁵ within the “Supplemental Financial Information Non-GAAP Measures” sections, 3M cannot, without unreasonable effort, forecast certain items required to develop meaningful comparable GAAP financial measures and, therefore, does not provide them on a forward-looking basis reflecting these items.

Conference call

3M will conduct an investor teleconference at 9 a.m. ET (8 a.m. CT) today. Investors can access this conference via the following:

• Live webcast at https://investors.3M.com 
• Webcast replay at https://investors.3m.com/financials/quarterly-earnings 

Consolidated financial statements and supplemental financial information non-GAAP measures

View the Financial Statement Information on 3M’s website: https://investors.3m.com/financials/quarterly-earnings

Forward-looking statements

This news release contains forward-looking statements. You can identify these statements by the use of words such as “plan,” “expect,” “aim,” “believe,” “project,” “target,” “anticipate,” “intend,” “estimate,” “will,” “should,” “could,” “would,” “forecast,” “future,” “outlook,” “guidance” and other words and terms of similar meaning. Forward-looking statements are based on certain assumptions and expectations of future events and trends that are subject to risks and uncertainties. Actual future results and trends may differ materially from historical results or those reflected in any such forward-looking statements depending on a variety of factors. Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, regulatory, international trade, geopolitical, capital markets and other external conditions and other factors beyond the Company’s control, including inflation; recession; military conflicts; trade restrictions such as sanctions, tariffs, reciprocal and retaliatory tariffs, and other tariff-related measures; regulatory requirements, legal actions, or enforcement; and natural and other disasters or climate change affecting the operations of the Company or its customers and suppliers; (2) foreign currency exchange rates and fluctuations in those rates; (3) liabilities and the outcome of contingencies related to certain fluorochemicals; known as “PFAS,” including liabilities related to claims, lawsuits, and government regulatory proceedings concerning various PFAS-related products and chemistries, as well as risks related to the Company’s plans to exit PFAS manufacturing and work to discontinue use of PFAS across its product portfolio; (4) risks related to the class-action settlement to resolve claims by public water suppliers in the United States regarding PFAS; (5) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company’s reports on Form 10-K, 10-Q, and 8-K (the “Reports”), as well as compliance risks related to legal or regulatory requirements, government contract requirements, policies and practices, or other matters that require or encourage the Company or its customers, suppliers, vendors, or channel partners to conduct business in a certain way; (6) competitive conditions and customer preferences; (7) the timing and market acceptance of new product and service offerings; (8) the availability and cost of purchased components, compounds, raw materials and energy due to shortages, increased demand and wages, tariffs, supply chain interruptions, or natural or other disasters; (9) unanticipated problems or delays with the phased implementation of a global enterprise resource planning system, or security breaches and other disruptions to the Company’s information or operational technology infrastructure; (10) the impact of acquisitions, strategic alliances, divestitures, and other strategic events resulting from portfolio management actions and other evolving business strategies; (11) operational execution, including the extent to which the Company can realize the benefits of planned productivity improvements, as well as the impact of organizational restructuring activities; (12) financial market risks that may affect the Company’s funding obligations under defined benefit pension and postretirement plans; (13) the Company’s credit ratings and its cost of capital; (14) tax-related external conditions, including changes in tax rates, laws or regulations; (15) matters relating to the spin-off of the Company’s Health Care business, including the risk that the expected benefits will not be realized; the risk that the costs or dis-synergies will exceed the anticipated amounts; potential impacts on the Company’s relationships with its customers, suppliers, employees, regulators and other counterparties; the ability to realize the desired tax treatment; the risk that any consents or approvals required will not be obtained; risks under the agreements and obligations entered into in connection with the spin-off; and (16) matters relating to Combat Arms Earplugs (“CAE”) and related products, including those related to, the August 2023 settlement that is intended to resolve, to the fullest extent possible, all litigation and alleged claims involving the CAE sold or manufactured by the Company’s subsidiary Aearo Technologies and certain of its affiliates and/or the Company. A further description of these factors is located in the Reports under “Cautionary Note Concerning Factors That May Affect Future Results” and “Risk Factors” in Part I, Items 1 and 1A (Annual Report) and in Part I, Item 2 and Part II, Item 1A (Quarterly Reports). Changes in such assumptions or factors could produce significantly different results. The Company assumes no obligation to update any forward-looking statements discussed herein as a result of new information or future events or developments.

About 3M

3M (NYSE: MMM) believes science helps create a brighter world for everyone. By unlocking the power of people, ideas and science to reimagine what’s possible, our global team uniquely addresses the opportunities and challenges of our customers, communities, and planet. Learn how we’re working to improve lives and make what’s next at 3M.com/news-center.

Please note that the company announces material financial, business and operational information using the 3M investor relations website, SEC filings, press releases, public conference calls and webcasts. The company also uses the 3M News Center and social media to communicate with our customers and the public about the company, products and services and other matters. It is possible that the information 3M posts on the News Center and social media could be deemed to be material information. Therefore, the company encourages investors, the media and others interested in 3M to review the information posted on 3M’s news center and the social media channels such as @3M or @3MNews.

Contacts


3M


Investor Contacts:

Diane Farrow, 612-202-2449
or
Eric Herron, 651-233-0043
Media Contact:
Sean Lynch, [email protected]

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SOURCE 3M Company

VANCOUVER, BC
, April 22, 2025 /PRNewswire/ – Integra Resources Corp. (“Integra” or the “Company”) (TSXV: ITR) (NYSE American: ITRG) is pleased to provide an interim operational update for the first quarter ended March 31, 2025 (the “first quarter 2025” or “Q1 2025”). The Company plans to release its first quarter 2025 financial results after market close on Wednesday, May 14, 2025, followed by a conference call hosted by senior management on Thursday, May 15, 2025 at 11:00 AM Eastern Time / 8:00 AM Pacific Time.

(All amounts in U.S. dollars as at March 31, 2025, unless otherwise stated)

First Quarter 2025 Florida Canyon Mine Operational Update

The Florida Canyon Mine produced 19,323 ounces of gold and sold 19,540 ounces of gold during the first quarter 2025. Gold production exceeded expectations, partly due to the recovery and processing of approximately 2,000 ounces of previously unrecovered gold confined within an electrowinning tank as part of a one-time efficiency improvement project. Strong gold production was further supported by the continued ramp-up of solution flow rates through the heap leach pads and new carbon-in-column circuit commissioned in late 2024.

Unit abbreviations: kt = 1,000 metric tonnes, g/t = grams per tonne, Au = gold, oz = troy ounce

First Quarter 2025 Financial Position

Unit abbreviations: $m = millions of U.S. dollars

Full financial results for the first quarter 2025 will be reported and filed on Integra’s profile on SEDAR+ at www.sedarplus.ca and EDGAR profile at www.sec.gov on Wednesday, May 14, 2025.

First Quarter 2025 Conference Call

Integra will host a conference call and webcast on Thursday, May 15, 2025 at 11:00 AM Eastern Time / 8:00 AM Pacific Time, to discuss first quarter 2025 results. Details for the conference call and webcast are included below.

Dial-In Numbers / Webcast:

Conference ID: 2435675
Toll Free: (888) 672-2415
Toll: +1 (646) 307-1963

Webcast: https://events.q4inc.com/attendee/434938829 

About Integra Resources

Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho and the Nevada North Project located in western Nevada. Integra creates sustainable value for shareholders, stakeholders, and local communities through successful mining operations, efficient project development, disciplined capital allocation, and strategic M&A, while upholding the highest industry standards for environmental, social, and governance practices.

ON BEHALF OF THE BOARD OF DIRECTORS

George Salamis
President, CEO and Director

Company website: www.integraresources.com

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Raphael Dutaut (Ph.D., P.Geo, OGQ Membership 1301), Integra’s Vice President, Geology and Mining. Mr. Dutaut is a “qualified person” as defined in National Instrument 43- 101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

Non-IFRS Measures

The Company has included certain performance measures in this news release which are not specified, defined, or determined under generally accepted accounting principles (in the Company’s case, International Financial Reporting Standards (“IFRS”)). These are common performance measures in the gold mining industry, but because they do not have any mandated standardized definitions, they may not be comparable to similar measures presented by other issuers. Accordingly, the Company uses such measures to provide additional information, and you should not consider them in isolation or as a substitute for measures of performance prepared in accordance with generally accepted accounting principles. In this section, all currency figures in tables are in thousands, except per-share and per-ounce amounts.

Working Capital

Working capital for the period calculated by subtracting current assets from current liabilities.

Forward Looking Statements

Certain information set forth in this news release contains “forward‐looking statements” and “forward‐looking information” within the meaning of applicable Canadian securities legislation and in applicable United States securities law (referred to herein as forward‐looking statements). Except for statements of historical fact, certain information contained herein constitutes forward‐looking statements which includes, but is not limited to, statements with respect to: the future financial or operating performance of the Company and the Wildcat and Mountain View deposits (the “Nevada North Project”), the Florida Mountain and DeLamar deposits (the “DeLamar Project”) and the Florida Canyon mine (the “Florida Canyon Mine” and together with the Nevada North Project and the DeLamar Project, the “Projects”). Forward-looking statements are often identified by the use of words such as “may”, “will”, “could”, “would”, “anticipate”, ‘believe”, “expect”, “intend”, “potential”, “estimate”, “budget”, “scheduled”, “plans”, “planned”, “forecasts”, “goals” and similar expressions.

Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such statement was made. Assumptions and factors include: expected synergies from acquisition of Florida Canyon; the Company’s ability to complete its planned exploration and development programs; the absence of adverse conditions at the Projects; satisfying ongoing covenants under the Company’s loan facilities; no unforeseen operational delays; no material delays in obtaining necessary permits; results of independent engineer technical reviews; the possibility of cost overruns and unanticipated costs and expenses; the price of gold remaining at levels that continue to render the Projects economic, as applicable; the Company’s ability to continue raising necessary capital to finance operations; and the ability to realize on the mineral resource and reserve estimates. Forward‐looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward‐looking statements. These risks and uncertainties include, but are not limited to: general business, economic and competitive uncertainties; the actual results of current and future exploration activities; conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks related to local communities; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties; and other factors beyond the Company’s control and as well as those factors included herein and elsewhere in the Company’s public disclosure. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to study and consider risk factors disclosed in Integra’s Annual Information Form dated March 26, 2025 for the fiscal year ended December 31, 2024, which is available on the SEDAR+ issuer profile for the Company at www.sedarplus.ca and available as Exhibit 99.1 to Integra’s Form 40-F, which is available on the EDGAR profile for the Company at www.sec.gov.

Investors are cautioned not to put undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. Investors are urged to read the Company’s filings with Canadian securities regulatory agencies, which can be viewed online under the Company’s profile on SEDAR+ at www.sedarplus.ca.

Cautionary Note for U.S. Investors Concerning Mineral Resources and Reserves

NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Technical disclosure contained in this news release has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. These standards differ from the requirements of the U.S. Securities and Exchange Commission (“SEC”) and resource information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC’s reporting and disclosure requirements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Integra Resources Corp.

• Former CFO of CVS Health, Aetna and Coventry Health Care brings deep experience driving growth and profitability.
• Mr. Guertin’s nomination represents continuation of Evolent’s board refreshment efforts.

WASHINGTON
, April 22, 2025 /PRNewswire/ — Evolent Health, Inc. (NYSE: EVH) (“Evolent”), a company focused on achieving better health outcomes for people with complex conditions, today announced that a new director nominee will stand for election to the Board of Directors at the annual meeting of stockholders scheduled to be held on June 5, 2025.

The Board has recommended Mr. Shawn Guertin for election. Mr. Guertin is an insurance and health care executive with nearly 40 years of actuarial, financial and management experience. Most recently, he served as Executive Vice President and Chief Financial Officer for CVS Health Corporation from May 2021 to October 2023.

Mr. Guertin’s nomination follows a search process by the Board’s Nominating and Governance Committee to refresh an independent director position.

“It is an honor to be nominated to the Board,” said Mr. Guertin. “I believe that Evolent offers a differentiated product for payers seeking to deliver top-quality clinical outcomes and health care value to members living with complex health conditions. I’m excited for the opportunity to help drive shareholder value.”  

If elected, Mr. Guertin will be the sixth new independent director added to the Board in the past four years, reflecting the Board’s emphasis on ensuring its corporate governance aligns with best-in-class practices.

“Shawn brings an impressive track record of driving growth and profitability in the health care industry, and we are excited about the opportunity to have him join the Board,” said Evolent  Board Chair Cheryl Scott.

Evolent Co-Founder and Chief Executive Officer Seth Blackley stated, “Shawn is a highly respected leader from some of America’s best-known health care brands. We look forward to benefiting from his guidance and his passion for our mission.”

Mr. Guertin would take the seat currently held by Diane Holder, who is not seeking re-election.

“I am incredibly grateful to Diane for her contributions to Evolent and the Board over the last 14 years. Diane has helped establish the company as a leader in value-based specialty care, and her legacy will always be linked to Evolent,” said Mr. Blackley.

About Shawn Guertin

Shawn Guertin served as the Executive Vice President and Chief Financial Officer at CVS Health Corporation from May 2021 to October 2023 and remained with CVS Health through May 2024. From January 2014 to May 2019, Mr. Guertin served as the Executive Vice President, CFO and Chief Enterprise Risk Officer at Aetna, Inc. and as the Senior Vice President, CFO and Chief Enterprise Risk Officer from February 2013 to January 2014. Prior to that role, Mr. Guertin served as the Head of Business Segment Finance at Aetna from April 2011 to February 2013. Previously, Mr. Guertin held several leadership roles at Coventry Health Care, Inc. from January 1998 to December 2009, including CFO and Treasurer from January 2005 to December 2009. Mr. Guertin previously served on the boards of directors of DaVita, Inc. and TriNet Group, Inc. He received a B.A. in Mathematics from Boston University.

About Evolent Health

Evolent (NYSE: EVH) specializes in better health outcomes for people with complex conditions through proven solutions that make health care simpler and more affordable. Evolent serves a national base of leading payers and providers and is consistently recognized as a top place to work in health care nationally. Learn more about how Evolent is changing the way health care is delivered by visiting https://ir.evolent.com. 

Important Additional Information and Where to Find it

Evolent Health, Inc. (the “Company”) intends to file a proxy statement with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the Company’s 2025 Annual Meeting of Stockholders (the “Proxy Statement” and such meeting the “Annual Meeting”). The Company, its directors and certain of its executive officers will be participants in the solicitation of proxies from shareholders in respect of the Annual Meeting. Information regarding the names of the Company’s directors and executive officers and their respective interests in the Company by security holdings or otherwise are set forth in the Company’s proxy statement for the 2024 Annual Meeting of Stockholders, filed with the SEC on April 26, 2024 (the “2024 Proxy Statement”) and the Company’s Current Report on Form 8-K, filed with the SEC on February 4, 2025. To the extent holdings of such participants in the Company’s securities have changed since the amounts described in the 2024 Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC. Details concerning the nominees of the Company’s Board of Directors for election at the Annual Meeting will be included in the Proxy Statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SHAREHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY’S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and shareholders will be able to obtain a copy of the definitive Proxy Statement and other documents filed by the Company free of charge from the SEC’s website, www.sec.gov. The Company’s shareholders will also be able to obtain, without charge, a copy of the definitive Proxy Statement and other relevant filed documents by directing a request by mail to Evolent Health, Inc., Attention: Investor Relations, 1812 N. Moore Street, Suite 1705, Arlington, VA 22209, or from the Company’s website, www.evolent.com.

Evolent Contact

[email protected]

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SOURCE Evolent Health, Inc.

ATLANTA
, April 22, 2025 /PRNewswire/ — Equifax^® (NYSE: EFX) today announced financial results for the quarter ended March 31, 2025.

• First quarter 2025 revenue of $1.442 billion up 4% with 5% local currency revenue growth and $37 million above the mid-point of our guidance, despite headwinds from U.S. Hiring and Mortgage markets.
• First quarter U.S. Mortgage revenue up strong 7% despite decline in underlying Mortgage market.
• Workforce Solutions first quarter revenue grew 3%. Verification Services revenue grew 5%, with Mortgage growth of 3% and Non-Mortgage growth of 6%.
• USIS first quarter revenue grew strong 7% with Mortgage revenue growth of 11% and Non-Mortgage revenue growth of 6%.
• International first quarter revenue grew 7% on a local currency basis with 1% on a reported basis.
• New Product Innovation leveraging new EFX Cloud delivered 11% new product Vitality Index, above our 10% LT Goal.
• Nearing EFX Cloud completion with over 85% of revenue in the Cloud.
• With strong free cash flow and balance sheet, the Board of Directors authorized a $3 billion share repurchase program expected to be completed over 4 years and a 28% increase in the second quarter dividend to $0.50 per share.
• Maintaining full-year 2025 Guidance even with uncertainty in macroeconomic and markets outlook.

“Equifax delivered strong first quarter revenue of $1.442 billion, up 4% on a reported basis and 5% on a local currency basis that was $37 million above the mid-point of our February guidance, led by strong 7% U.S. Mortgage revenue growth and continued significant New Product Innovation performance with a Vitality Index of 11% despite headwinds from the U.S. Mortgage and Hiring markets. Workforce Solutions delivered 3% revenue growth, driven by Verification Services revenue growth of 5% led by Non-Mortgage revenue growth of 6% from strong growth in Talent Solutions and Consumer Lending businesses and better than expected Government growth. Mortgage revenue grew 3% despite continued weak Mortgage markets. USIS delivered strong revenue growth of over 7%, within their 6 to 8% Long Term Financial Framework. USIS revenue growth was led by very strong Mortgage revenue growth of 11% and Non-Mortgage revenue growth of 6%, led by strength in Card and Auto. International delivered strong 7% local currency revenue growth led by Latin America. We were pleased with the strong Equifax results in a challenging and uncertain market environment,” said Mark W. Begor, Equifax Chief Executive Officer. 

“We are maintaining our full-year 2025 Guidance midpoint expectation for local currency revenue growth of 6% and adjusted EPS of $7.45 per share. Despite our very strong, above guidance first quarter results, we are maintaining our full-year 2025 Guidance due to the significant uncertainty in the global macroeconomic environment and direction of U.S. inflation and interest rates. 

In 2025, we expect to deliver almost $900 million of free cash flow and a cash conversion ratio approaching 95%, in line with our Long Term Financial Framework. Given our strong free cash flow and balance sheet, our Board of Directors authorized a 28% increase in our second quarter dividend to $0.50 per share, and a new $3 billion share repurchase program that we anticipate completing over about 4 years. Our ability to deliver significant excess free cash flow to shareholders is a big milestone for Equifax as we move post-Cloud to fully focus on growth, innovation, new products, and free cash generation to continue investing in EFX for growth and return cash to shareholders.       

We continued to execute very well against our EFX2027 Strategic Priorities in the quarter, despite market headwinds, with over 85% of our revenue in the new EFX Cloud. We are pivoting to leveraging our new Cloud capabilities to accelerate New Product Innovation leveraging our differentiated data assets, and investing in new products, data, analytics, and EFX.AI capabilities which are expected to drive growth in 2025 and beyond. We are energized about the New Equifax that is expected to deliver higher growth, margins, and accelerating free cash flow, and returning cash to shareholders in the future.”

Financial Results Summary

The Company reported revenue of $1,442.0 million in the first quarter of 2025, up 4% on a reported basis and up 5% on a local currency basis compared to the first quarter of 2024.

Net income attributable to Equifax of $133.1 million was up 7% in the first quarter of 2025 compared to $124.9 million in the first quarter of 2024.

Diluted EPS attributable to Equifax was $1.06 per share in the first quarter of 2025, up 6% compared to $1.00 per share in the first quarter of 2024.

Workforce Solutions first quarter results

• Total revenue was $618.6 million in the first quarter of 2025, up 3% compared to the first quarter of 2024. Operating margin for Workforce Solutions was 42.7% in the first quarter of 2025 compared to 42.3% in the first quarter of 2024. Adjusted EBITDA margin for Workforce Solutions was 50.1% in the first quarter of 2025 compared to 51.1% in the first quarter of 2024.
• Verification Services revenue was $502.2 million, up 5% compared to the first quarter of 2024.
• Employer Services revenue was $116.4 million, down 8% compared to the first quarter of 2024.

USIS first quarter results

• Total revenue was $499.9 million in the first quarter of 2025, up 7% compared to the first quarter of 2024. Operating margin for USIS was 21.1% in the first quarter of 2025 compared to 19.9% in the first quarter of 2024. Adjusted EBITDA margin for USIS was 34.1% in the first quarter of 2025 compared to 32.7% in the first quarter of 2024.
• Online Information Solutions revenue was $448.1 million, up 7% compared to the first quarter of 2024.
• Financial Marketing Services revenue was $51.8 million, up 10% compared to the first quarter of 2024.

International first quarter results

• Total revenue was $323.5 million in the first quarter of 2025, up 1% and up 7% compared to the first quarter of 2024 on a reported and local currency basis, respectively. Operating margin for International was 7.8% in the first quarter of 2025, compared to 9.9% in the first quarter of 2024. Adjusted EBITDA margin for International was 24.1% in the first quarter of 2025 compared to 24.3% in the first quarter of 2024.
• Latin America revenue was $94.2 million, up 3% compared to the first quarter of 2024 on a reported basis and up 16% on a local currency basis.
• Europe revenue was $86.6 million, flat compared to the first quarter of 2024 on a reported basis and up 1% on a local currency basis.
• Asia Pacific revenue was $79.7 million, up 2% compared to the first quarter of 2024 on a reported basis and up 7% on a local currency basis.
• Canada revenue was $63.0 million, down 4% compared to the first quarter of 2024 on a reported basis and up 2% on a local currency basis.

Adjusted EPS and Adjusted EBITDA Margin

• Adjusted EPS attributable to Equifax was $1.53 in the first quarter of 2025, up 2% compared to the first quarter of 2024.
• Adjusted EBITDA margin was 29.3% in the first quarter of 2025 compared to 29.1% in the first quarter of 2024.
• These financial measures exclude certain items as described further in the Non-GAAP Financial Measures section below.

New Share Repurchase Program and Dividend Increase

On April 21, 2025, the Company’s Board of Directors authorized the repurchase of up to $3 billion of the Company’s common stock. The program does not have a stated expiration date. These repurchases may be made from time to time in the open market, in privately negotiated transactions, or otherwise, including pursuant to a Rule 10b5-1 plan or an accelerated share repurchase transaction, at prices that the Company deems appropriate and subject to market conditions, applicable law and other factors deemed relevant in the Company’s sole discretion. The share repurchase authorization does not obligate the Company to repurchase any dollar amount or number of shares of common stock, and may be suspended or discontinued at any time. This new share repurchase authorization replaces the prior authorization.

The Company’s Board of Directors also approved a 28% increase in our quarterly cash dividend for the second quarter of 2025. Our new quarterly cash dividend is $0.50 per share, subject to future declaration by the Company’s Board of Directors. For the second quarter of 2025, the cash dividend of $0.50 per share will be payable on June 13, 2025, to shareholders of record as of the close of business on May 23, 2025. Equifax has paid cash dividends for more than 100 consecutive years.

About Equifax

At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit www.equifax.com.

Earnings Conference Call and Audio Webcast

In conjunction with this release, Equifax will host a conference call on April 22, 2025 at 8:30 a.m. (ET) via a live audio webcast. To access the webcast and related presentation materials, go to the Investor Relations section of our website at www.equifax.com. The discussion will be available via replay at the same site shortly after the conclusion of the webcast. This press release is also available at that website.

Non-GAAP Financial Measures

This earnings release presents adjusted EPS attributable to Equifax which is diluted EPS attributable to Equifax adjusted (to the extent noted above for different periods) for acquisition-related amortization expense, accrual for legal and regulatory matters related to the 2017 cybersecurity incident, foreign currency impact of certain intercompany loans, acquisition-related costs other than acquisition amortization, income tax effect of stock awards recognized upon vesting or settlement, Argentina highly inflationary foreign currency adjustment and realignment of resources and other costs. All adjustments are net of tax, with a reconciling item with the aggregated tax impact of the adjustments. This earnings release also presents (i) adjusted EBITDA and adjusted EBITDA margin which is defined as consolidated net income attributable to Equifax plus net interest expense, income taxes, depreciation and amortization, and also excludes certain one-time items, (ii) local currency revenue change which is calculated by conforming 2025 results using 2024 exchange rates, (iii) organic local currency revenue growth which is defined as local currency revenue growth, adjusted to reflect an increase in prior year Equifax revenue from the revenue of acquired companies in the prior year period, (iv) free cash flow, which is defined as cash provided by operating activities less capital expenditures, and (v) cash conversion, which is defined as the ratio of free cash flow to adjusted net income. These are important financial measures for Equifax but are not financial measures as defined by GAAP.

These non-GAAP financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as an alternative measure of net income or EPS as determined in accordance with GAAP.

Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures and related notes are presented in the Q&A. This information can also be found under “Investor Relations/Financial Information/Non-GAAP Financial Measures” on our website at www.equifax.com.

Forward-Looking Statements

This release contains forward-looking statements and forward-looking information. These statements can be identified by expressions of belief, expectation or intention, as well as statements that are not historical fact. These statements are based on certain factors and assumptions including with respect to foreign exchange rates, revenue growth, results of operations and financial performance, strategic initiatives, business plans, prospects and opportunities, the U.S. mortgage market, economic conditions and effective tax rates.

While Equifax believes these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Several factors could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These factors relate to (i) actions taken by us, including, but not limited to, restructuring actions, strategic initiatives (such as our cloud technology transformation), capital investments and asset acquisitions or dispositions, as well as (ii) developments beyond our control, including, but not limited to, changes in the U.S. mortgage market environment and changes more generally in U.S. and worldwide economic conditions (such as changes in interest rates and inflation levels and the evolving impact of tariffs) that materially impact consumer spending, home prices, investment values, consumer debt, unemployment rates and the demand for Equifax’s products and services. Deteriorations in economic conditions or increases in interest rates could lead to a decline in demand for our products and services and negatively impact our business. It may also impact financial markets and corporate credit markets, which could adversely impact our access to financing or the terms of any financing.

Other risk factors relevant to our business include: (i) any compromise of Equifax, customer or consumer information due to security breaches and other disruptions to our information technology infrastructure; (ii) the failure to achieve and maintain key industry or technical certifications; (iii) the failure to realize the anticipated benefits of our cloud technology transformation strategy; (iv) operational disruptions and strain on our resources caused by our transition to cloud-based technologies; (v) our ability to meet customer requirements for high system availability and response time performance; (vi) effects on our business if we provide inaccurate or unreliable data to customers; (vii) our ability to maintain access to credit, employment, financial and other data from external sources; (viii) the impact of competition; (ix) our ability to maintain relationships with key customers and business partners; (x) our ability to successfully introduce new products, services and analytical capabilities; (xi) the impact on the demand for some of our products and services due to the availability of free or less expensive consumer information; (xii) our ability to comply with our obligations under settlement agreements arising out of a material cybersecurity incident in 2017; (xiii) potential adverse developments in new and pending legal proceedings, government investigations and regulatory enforcement actions; (xiv) changes in, and the effects of, laws, regulations and government policies governing our business, including oversight by the Consumer Financial Protection Bureau in the U.S., the U.K. Financial Conduct Authority and Information Commissioner’s Office in the U.K., and the Office of Australian Information Commission and the Australian Competition and Consumer Commission in Australia; (xv) the impact of privacy, cybersecurity or other data-related laws and regulations; (xvi) the economic, political and other risks associated with international sales and operations; (xvii) the impact on our reputation and business from our responsible business commitments and disclosures; (xviii) our ability to realize the anticipated strategic and financial benefits from our acquisitions, joint ventures and other alliances; (xix) any damage to our reputation due to our dependence on outsourcing certain portions of our operations; (xx) the termination or suspension of our government contracts; (xxi) the impact of infringement or misappropriation of intellectual property by us against third parties or by third parties against us; (xxii) an increase in our cost of borrowing and our ability to access the capital markets due to a credit rating downgrade; (xxiii) our ability to hire and retain key personnel; (xxiv) the impact of adverse changes in the financial markets and corresponding effects on our retirement and post-retirement pension plans; (xxv) the impact of health epidemics, pandemics and similar outbreaks on our business; and (xxvi) risks associated with our use of certain artificial intelligence and machine learning models and systems.

A summary of additional risks and uncertainties can be found in our Annual Report on Form 10-K for the year ended December 31, 2024 including without limitation under the captions “Item 1. Business — Governmental Regulation,” “– Forward-Looking Statements” and “Item 1A. Risk Factors” and in our other filings with the U.S. Securities and Exchange Commission. Forward-looking statements are given only as at the date of this release and Equifax disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

 

 

Common Questions & Answers (Unaudited)
(Dollars in millions)

1.    Can you provide a further analysis of operating revenue by operating segment?

Operating revenue consists of the following components:

2.    What is the estimate of the change in overall U.S. mortgage hard pull credit inquiry volume that is included in the 2025 second quarter and full year guidance provided?

The change year over year in total U.S. mortgage hard pull credit inquiries received by Equifax in the first quarter of 2025 was a decline of 9%. The guidance provided on page 3 assumes a change year over year in total U.S. mortgage market credit inquiries received by Equifax in the second quarter of 2025 to be a decline of about 11%. For full year 2025, our guidance assumes a decline of about 12%.

Reconciliations of Non-GAAP Financial Measures to the Comparable GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share amounts)

A.    Reconciliation of net income attributable to Equifax to adjusted net income attributable to Equifax and adjusted diluted EPS attributable to Equifax, defined as net income and EPS, respectively, each adjusted for acquisition-related amortization expense, accrual for legal and regulatory matters related to the 2017 cybersecurity incident, foreign currency impact of certain intercompany loans, acquisition-related costs other than acquisition amortization, income tax effect of stock awards recognized upon vesting or settlement, Argentina highly inflationary foreign currency adjustment, realignment of resources and other costs and aggregated tax impact of these adjustments:

B.    Reconciliation of net income attributable to Equifax to adjusted EBITDA, defined as net income excluding income taxes, interest expense, net, depreciation and amortization expense, accrual for legal and regulatory matters related to the 2017 cybersecurity incident, foreign currency impact of certain intercompany loans, acquisition-related costs other than acquisition amortization, Argentina highly inflationary foreign currency adjustment, realignment of resources and other costs and presentation of adjusted EBITDA margin: 

C.    Reconciliation of operating income by segment to Adjusted EBITDA, excluding depreciation and amortization expense, other income, net, noncontrolling interest, accrual for legal and regulatory matters related to the 2017 cybersecurity incident, foreign currency impact of certain intercompany loans, acquisition-related costs other than acquisition amortization, Argentina highly inflationary foreign currency adjustment, realignment of resources and other costs and presentation of adjusted EBITDA margin for each of the segments:

 

Notes to Reconciliations of Non-GAAP Financial Measures to the Comparable GAAP Financial Measures

Diluted EPS attributable to Equifax is adjusted for the following items:

Acquisition-related amortization expense – During the first quarter of 2025 and 2024, we recorded acquisition-related amortization expense of certain acquired intangibles of $62.3 million ($49.8 million, net of tax) and $67.0 million ($53.2 million, net of tax), respectively. We calculate this financial measure by excluding the impact of acquisition-related amortization expense and including a benefit to reflect the material cash income tax savings resulting from the income tax deductibility of amortization for certain acquired intangibles. These financial measures are not prepared in conformity with GAAP. Management believes excluding the impact of amortization expense is useful because excluding acquisition-related amortization, and other items that are not comparable, allows investors to evaluate our performance for different periods on a more comparable basis. Certain acquired intangibles result in material cash income tax savings which are not reflected in earnings. Management believes that including a benefit to reflect the cash income tax savings is useful as it allows investors to better value Equifax. Management makes these adjustments to earnings when measuring profitability, evaluating performance trends, setting performance objectives and calculating our return on invested capital.

Accrual for legal and regulatory matters related to the 2017 cybersecurity incident – Accrual for legal and regulatory matters related to the 2017 cybersecurity incident includes legal fees to respond to subsequent litigation and government investigations for both periods presented. During the first quarter of 2025, we recorded an accrual for legal and regulatory matters related to the 2017 cybersecurity incident of $0.1 million ($0.1 million, net of tax). During the first quarter of 2024, we recorded an accrual for legal and regulatory matters related to the 2017 cybersecurity incident of $0.1 million ($0.1 million, net of tax). Management believes excluding these charges is useful as it allows investors to evaluate our performance for different periods on a more comparable basis. Management makes these adjustments to net income when measuring profitability, evaluating performance trends, setting performance objectives and calculating our return on invested capital. This is consistent with how management reviews and assesses Equifax’s historical performance and is useful when planning, forecasting and analyzing future periods.

Foreign currency impact of certain intercompany loans – During the first quarter of 2025 and 2024, we recorded a gain of $0.2 million and $0.4 million, respectively, related to foreign currency impact of certain intercompany loans. Management believes excluding this charge is useful as it allows investors to evaluate our performance for different periods on a more comparable basis. This is consistent with how management reviews and assesses Equifax’s historical performance and is useful when planning, forecasting and analyzing future periods.

Acquisition-related costs other than acquisition amortization – During the first quarter of 2025 and 2024, we recorded $11.6 million ($8.2 million, net of tax) and $18.1 million ($13.1 million, net of tax), respectively, for acquisition-related costs other than acquisition amortization. These costs primarily related to integration costs resulting from recent acquisitions and were recorded in operating income. Management believes excluding this charge from certain financial results provides meaningful supplemental information regarding our financial results, since a charge of such an amount is not comparable among the periods. This is consistent with how our management reviews and assesses Equifax’s historical performance and is useful when planning, forecasting, and analyzing future periods.

Income tax effects of stock awards that are recognized upon vesting or settlement – During the first quarter of 2025, we recorded a tax benefit of $1.1 million related to the tax effects of deductions for stock compensation in excess of amounts recorded for compensation costs. During the first quarter of 2024, we recorded a tax benefit of $4.0 million related to the tax effects of deductions for stock compensation in excess of amounts recorded for compensation costs. Management believes excluding this tax effect from financial results provides meaningful supplemental information regarding our financial results for the three months ended March 31, 2025 and 2024 because these amounts are non-operating and relate to income tax benefits or deficiencies for stock awards recognized when tax amounts differ from recognized stock compensation cost. This is consistent with how management reviews and assesses Equifax’s historical performance and is useful when planning, forecasting and analyzing future periods.

Argentina highly inflationary foreign currency adjustment – Argentina experienced multiple periods of increasing inflation rates, devaluation of the peso, and increasing borrowing rates. As such, Argentina was deemed a highly inflationary economy by accounting policymakers. We recorded a foreign currency loss of $0.5 million and $0.1 million during the first quarter of 2025 and 2024, respectively, as a result of remeasuring the peso denominated monetary assets and liabilities due to Argentina being highly inflationary. Management believes excluding this charge is useful as it allows investors to evaluate our performance for different periods on a more comparable basis. This is consistent with how management reviews and assesses Equifax’s historical performance and is useful when planning, forecasting and analyzing future periods.

Charge related to the realignment of resources and other costs – During the first quarter of 2025, we recorded $1.4 million ($1.0 million, net of tax) of restructuring charges related to contract terminations, which relate to our efforts to complete our cloud technology transformation. Management believes excluding this charge from certain financial results provides meaningful supplemental information regarding our financial results for the three months ended March 31, 2025 since the charges are not comparable among the periods. This is consistent with how our management reviews and assesses Equifax’s historical performance and is useful when planning, forecasting and analyzing future periods.

Adjusted EBITDA and EBITDA margin – Management defines adjusted EBITDA as consolidated net income attributable to Equifax plus net interest expense, income taxes, depreciation and amortization, and also excludes certain one-time items. Management believes the use of adjusted EBITDA and adjusted EBITDA margin allows investors to evaluate our performance for different periods on a more comparable basis.

 

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SOURCE Equifax Inc.

CLEVELAND
, April 22, 2025 /PRNewswire/ — NACCO Industries^® (NYSE:NC) will release its 2025 First Quarter financial results after the close of the market on Wednesday, April 30, 2025.

In conjunction with this release, the Company will also host a conference call on Thursday, May 1, 2025 to discuss these results.

The call will also be webcast live on NACCO’s Investor Relations website at ir.nacco.com. For those not planning to ask a question of management, the Company recommends listening via the webcast. Please allow 15 minutes to register, download and install any necessary software. An archive of the webcast will be available on the Company’s website two hours after the live call ends.

About NACCO Industries

NACCO Industries^® brings natural resources to life by delivering aggregates, minerals, reliable fuels and environmental solutions through its robust portfolio of NACCO Natural Resources businesses. Learn more about our companies at nacco.com or get investor information at ir.nacco.com.

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SOURCE NACCO Industries