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Category: Transport

  • MIL-OSI Economics: US aspiration thrombectomy market sees rapid growth in recent years, says GlobalData

    Source: GlobalData

    US aspiration thrombectomy market sees rapid growth in recent years, says GlobalData

    Posted in Medical Devices

    Acute ischemic strokes afflict millions of people across the world every year, and the incidence of this life-threatening medical event continues to rise, driven by higher rates of hypertension and other comorbidities. The clots and debris that choke off the blood supply within the brain during these strokes can be removed in different ways, which are often used in combination with each other to maximize the benefit to patients. Yet, sales of aspiration thrombectomy catheters and associated guide catheters have surpassed the size of the stent retriever market in the US in recent years, says GlobalData, a leading data and analytics company.

    According to GlobalData estimates, the US sales for super bore size catheters grew by 171% and small bore size catheter sales grew by 55% from 2023 to 2024, while sales of large bore size catheters grew by only 16%.

    Aspiration thrombectomy catheters come in small (0.0-0.54”), large (0.06-0.08”), and super (>0.08”) bore sizes. Originally only large size catheters were available, limiting the number of stroke procedures that could use aspiration thrombectomy. However, new clinical evidence and advances in technology have allowed for the use of small aspiration catheters in much smaller blood vessels than in the past. In contrast, for larger vessels, there has been a shift toward using super-sized catheters instead of large ones to benefit from their increased suction power and the ability to more quickly capture bigger thrombi and emboli.

    Amy Paterson, Medical Analyst at GlobalData, comments: “The small and super bore size neurovascular aspiration thrombectomy catheters are the fastest growing segments in the US, suggesting that physicians are ready and willing to adopt these devices for a wider range of blood clot sizes.”

    In addition to the increased adoption of newer catheter sizes, there has also been a move by manufacturers away from selling aspiration catheters alone to selling kits with both aspiration and delivery catheters packaged together. Companies such as Penumbra and Route 92 Medical are leading the way with this commercial strategy, but others are expected to follow. In 2024, the proportion of kitted units sold increased to 8% compared to 4% in the previous year.

    Paterson continues: “Aspiration catheters sold in kits have an average selling price almost double that of standalone aspiration catheters of the same size. Despite the price difference, kitted catheters are expected to continue taking over market share, suggesting that physicians are willing to pay more for the convenience of the kit.”

    Average selling price per procedure for these products used during acute ischemic stroke intervention is expected to continue growing with increased use of kitted catheters and new technological advancements. For example, in the coming years, GlobalData anticipates that Penumbra will be approved to commercialize the use of its Thunderbolt Aspiration Tubing and computer-assisted vacuum thrombectomy (CAVT) technology for use with its Penumbra ENGINE and RED reperfusion catheters.

    Paterson concludes: “These technologies are designed to more rapidly and thoroughly remove ischemic blood clots, but they are expected to carry with them a hefty price tag. If these technologies become the gold standard, competitors are likely to enter the space with other types of cyclic technologies that will further grow the size of this dynamic market.”

    MIL OSI Economics –

  • MIL-OSI USA: Deluzio Holds Resident Town Hall at Millvale Senior Community

    Source: US Congressman Chris Deluzio (PA)

    Seniors Shared Concern About Cuts to Social Security & Other Critical Federal Programs

    MILLVALE, PA — Today, Congressman Chris Deluzio (PA-17) visited the Lloyd McBride Independent Senior Living Community in Millvale for a town hall meeting with residents. He answered questions about the Trump Administration’s and Congressional Republicans’ attacks on federal programs that residents rely on, like Social Security, Medicare, and Medicaid—and shared how he’s fighting back to stand up for Western Pennsylvanians.

    “The good folks at Lloyd McBride Independent Senior Living Community have earned the right to retire with dignity, and they rightfully expect our government to deliver their hard-earned benefits. It’s outrageous that the Trump Administration and Congressional Republicans are attacking so many of those commitments that seniors rely on,” said Congressman Deluzio. “It’s tough for some seniors to travel to events, so I was glad to come to them in Millvale to hear their concerns, answer their questions, and share a simple message: no matter what they throw at us down in Washington, I’ll keep fighting for all of us in Western PA.” 

    Photos from the event are available for use by the press here. 

    Below are just a few examples of the federal actions that are causing concern for seniors in Western Pennsylvania and across the country—as well as how Congressman Deluzio is fighting back: 

    • The Social Security Administration has plans to fire thousands of workers, is planning to close field offices around the country, is ending payments by paper check, is pushing seniors to use its unreliable website for customer service instead of in-person assistance, allowed DOGE to access sensitive personal data, has said it will stop responding to Congressional inquiries, and has switched its official messaging to Elon Musk-owned social media platform “X” (formerly known as Twitter) following cuts to communications staff.

      In response, Congressman Deluzio has: 

    • Congressional Republican’ budget outline targets Medicaid for $880 billion in cuts. Medicaid is a key source of funding for senior living homes. More than 130,000 people that Congressman Deluzio represents in Western PA rely on Medicaid for healthcare. 
    • If Congressional Republicans are successful in rolling back healthcare elements of the Inflation Reduction Act, Americans would lose a key Medicare provision that caps out-of-pocket prescription drug costs for Medicare enrollees at $2,000 per year. This is expected to save PA Medicare enrollees an average of $2,515 this year. 
      • Congressman Deluzio has called attention to this under-discussed threat and will continue doing so.  

    Congressman Deluzio looks forward to discussing many of these issues further at his upcoming Telephone Town Hall focused on protecting Social Security and Healthcare next Tuesday, April 29th at 6:00pm and at his in-person May Town Hall (details forthcoming). 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Fischer Statement on EPA Waiver to Allow for Nationwide Year-Round E15

    US Senate News:

    Source: United States Senator for Nebraska Deb Fischer

    Calls for Congress to make year-round E15 permanent with her Nationwide Consumer and Fuel Retailers Choice Act

    U.S. Senator Deb Fischer (R-Neb.), a member of the Senate Agriculture Committee, released the following statement after the Environmental Protection Agency (EPA)today issued an emergency waiver to allow for the sale of E15 gasoline during the summer driving season:


    “I’m pleased the EPA has issued a summertime emergency fuel waiver to allow E15 to be sold year-round; however, a permanent, nationwide solution is still needed. I’m going to continue calling on Congress to pass my     Nationwide Consumer and Fuel Retailers Choice Act to end years of patchwork regulations and unleash the power of year-round E15.”

    Fischer’s work on E15:

    Fischer has been a steadfast champion for year-round E15 since 2015, when she first co-led a bill to allow year-round E15 during the 114th Congress.

    In 2017, she introduced the Consumer and Fuel Retailer Choice Act to amend the Clear Air Act and help make year-round E15 a reality. Later that year, she testified before the Senate Environment and Public Works Committee in support of her bipartisan legislation.

    In 2019, Fischer traveled with President Trump to Nebraska and Iowa when he announced regulatory efforts to allow the sale of E15. When President Trump’s efforts were struck down by courts, Fischer continued to lead by reintroducing this legislation in 2021, during the 117th Congress. Fischer released an updated bill in 2022 that included unprecedented support.

    In 2023, Fischer introduced the Nationwide Consumer and Fuel Retailer Choice Act of 2023 to break down remaining barriers and unlock the full potential of nationwide, year-round E15, advancing America’s energy independence. In the U.S. House of Representatives, Congressman Adrian Smith (NE-03) introduced companion legislation.

    On the first day of his term, President Trump took steps to make E15 available year-round through his Executive Order Declaring a National Energy Emergency.

    In February, Fischer reintroduced her Nationwide Consumer and Fuel Retailer Choice Act of 2025, which is the only permanent, nationwide solution that will unleash the power of year-round E15 and fulfill President Trump’s mandate for energy independence. 

    Last month, Fischer joined U.S. Representative Adrian Smith (NE-03) at a press conferenceurging Congress to fulfill President Trump’s pledge to allow the sale of year-round E15.

    MIL OSI USA News –

  • MIL-OSI USA: Senator Reverend Warnock, Colleagues Demand President Trump Rescind Harmful Claims That He Will Transfer Incarcerated U.S. Citizens to a Foreign Prison

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    Senator Reverend Warnock, Colleagues Demand President Trump Rescind Harmful Claims That He Will Transfer Incarcerated U.S. Citizens to a Foreign Prison

    In the letter, Senator Reverend Warnock calls for the return of a Maryland father wrongfully deported to El Salvador, Kilmar Abrego Garcia

    Washington, D.C. — U.S. Senators Reverend Raphael Warnock (D-GA), Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee led 24 of their Democratic colleagues in a letter to President Donald Trump calling for him to immediately rescind the dangerous and offensive claim that he may transfer incarcerated U.S. citizens to El Salvador.

    In the letter, the Senators also urge the President to follow the law and adhere to all applicable court orders and immediately facilitate the return to the United States of Kilmar Abrego Garcia, whom his Administration illegally deported to El Salvador in direct contravention of a court order specifically prohibiting such removal. In the letter, the Senators explain how these unprecedented actions threaten the constitutional protections of all Americans and violate the fundamental principles on which this nation was founded. 

    “Our laws also do not allow you to send individuals from U.S. soil to El Salvador without due process. Further, the Executive Branch must comply with longstanding domestic and international law that prohibits the United States from transferring any person from our jurisdiction or effective control to a place where the person would face certain serious human rights violations. Your Administration’s actions in sending individuals to a Salvadoran prison notorious for inhumane conditions underscore the urgency and applicability of these requirements. The bedrock principles of the Fifth Amendment’s Due Process Clause protect individuals from being “deprived of life, liberty, or property, without due process of law,’” the Senators continued.

    Even under extraordinary wartime authorities such as the Alien Enemies Act, the Supreme Court of the United States has held that noncitizens should, at a minimum, have an opportunity to prove whether or not the Act should apply to them. The Supreme Court recently ordered the federal government to facilitate the return of Mr. Abrego Garcia and “ensure that his case is handled as it would have been had he not been improperly sent to El Salvador.”

    Along with Senators Warnock and Durbin, the letter was signed by U.S. Senators Chris Van Hollen (D-MD), Mazie Hirono (D-HI), Chris Coons (D-DE), Alex Padilla (D-CA), Richard Blumenthal (D-CT), Angela Alsobrooks (D-MD), Jeff Merkley (D-OR), Adam Schiff (D-CA), Peter Welch (D-VT), Tammy Duckworth (D-IL), Tim Kaine (D-VA), Amy Klobuchar (D-MN), Cory Booker (D-NJ), Bernie Sanders (I-VT), Sheldon Whitehouse (D-RI), Lisa Blunt Rochester (D-DE), John Hickenlooper (D-CO), Ron Wyden (D-OR), Elizabeth Warren (D-MA), Tammy Baldwin (D-WI), Ed Markey (D-MA), Tina Smith (D-MN), Patty Murray (D-WA), and Martin Heinrich (D-NM).

    The letter is endorsed by the following organizations: Center for Victims of Torture, American Immigration Council, Leadership Conference on Civil and Human Rights, FWD.us, People for the American Way, National Immigrant Justice Center, SMART Union, and Human Rights First.

    The full letter is available HERE and below.

    Dear President Trump:

    We call on you to immediately rescind the dangerous and offensive claim that you may transfer incarcerated U.S. citizens to El Salvador. We further urge you to follow the law and adhere to all applicable court orders and immediately facilitate the return to the United States of Kilmar Abrego Garcia, whom your Administration illegally deported to El Salvador in direct contravention of a court order specifically prohibiting such removal. Your unprecedented actions threaten the constitutional protections of all Americans and violate the fundamental principles on which this nation was founded. 

    With regard to your shocking assertion about transferring Americans to El Salvador, you cannot deport Americans to a foreign country for any reason. This nation’s founding fathers declared independence based on “repeated injuries and usurpations” by the then-King of Great Britain, including “transporting us beyond Seas to be tried for pretended offences” and “depriving us in many cases, of the benefits of Trial by Jury.” Accordingly, Congress has passed no provision into law that would permit exiling United States citizens to a foreign country for any reason. One conservative legal scholar called your threats to deport U.S. citizens “obviously illegal and unconstitutional.”

    Our laws also do not allow you to send individuals from U.S. soil to El Salvador without due process. Further, the Executive Branch must comply with longstanding domestic and international law that prohibits the United States from transferring any person from our jurisdiction or effective control to a place where the person would face certain serious human rights violations. Your Administration’s actions in sending individuals to a Salvadoran prison notorious for inhumane conditions underscore the urgency and applicability of these requirements. The bedrock principles of the Fifth Amendment’s Due Process Clause protect individuals from being “deprived of life, liberty, or property, without due process of law.” Throughout our nation’s history, the Supreme Court has long read the Fifth Amendment’s guarantee of due process to require that the government provide persons with certain procedural due process protections, including notice and an opportunity to be heard before any such deprivation of liberty.

    Even under extraordinary wartime authorities such as the Alien Enemies Act, the Supreme Court of the United States has held that noncitizens should, at a minimum, have an opportunity to prove whether or not the Act should apply to them. In a statement accompanying the Supreme Court’s recent order for the federal government to facilitate the return of Mr. Abrego Garcia and “ensure that his case is handled as it would have been had he not been improperly sent to El Salvador,” Justice Sotomayor noted that your Administration’s argument suggesting that the government is permitted to leave Mr. Abrego Garcia in the Salvadoran prison after wrongfully sending him there “implies that it could deport and incarcerate any person, including U.S. citizens, without legal consequence, so long as it does so before a court can intervene.” She went on to note that this is a “view [that] refutes itself.”

    You must immediately facilitate the return of Mr. Abrego Garcia, which is unquestionably within your power to do since your Administration is paying the government of El Salvador to detain him. As Judge Harvie Wilkinson, a conservative appointee of President Reagan, wrote in a unanimous Fourth Circuit opinion rejecting your Administration’s efforts to delay taking steps to bring Mr. Abrego Garcia back to the United States:

    The government is asserting a right to stash away residents of this country in foreign prisons without the semblance of due process that is the foundation of our constitutional order. Further, it claims in essence that because it has rid itself of custody that there is nothing that can be done. This should be shocking not only to judges, but to the intuitive sense of liberty that Americans far removed from courthouses still hold dear.

    You must also end your unlawful attempts to deport noncitizens without due process under the Alien Enemies Act, as the Supreme Court ordered this weekend. You have no authority to openly defy court orders requiring you: (1) to return someone who has been  wrongfully deported, or (2) to grant individuals the due process they are owed under our laws.  As Judge Boasberg wrote in his order last week concluding that probable cause exists to find the government in criminal contempt:

    The Constitution does not tolerate willful disobedience of judicial orders—especially by officials of a coordinate branch who have sworn an oath to uphold it. To permit such officials to freely “annul the judgments of the courts of the United States” would not just “destroy the rights acquired under those judgments”; it would make “a solemn mockery” of “the constitution itself.” …“So fatal a result must be deprecated by all.”

    You must immediately facilitate the return to the United States of Kilmar Abrego Garcia, follow all court orders, and withdraw your dangerous and offensive claims that you may transfer U.S. citizens to a foreign prison. The Constitution demands it.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Ricketts Statement on E15 Announcement

    US Senate News:

    Source: United States Senator Pete Ricketts (Nebraska)

    WASHINGTON, D.C. – Today, U.S. Senator Pete Ricketts (R-NE), a member of the Senate Environment and Public Works Committee, complimented the announcement that the Environmental Protection Agency (EPA) would issue an emergency fuel waiver to allow the sale of E15 this summer. Ricketts said the following:

    “E15 saves consumers money at the pump, supports Nebraska agriculture, cleans our environment, and promotes energy independence. Expanding access to E15 use will help President Trump deliver on his promise to unleash American energy. The next step is a permanent fix. Let’s pass Senator Fischer’s Consumer and Fuel Retailer Choice Act and make year-round nationwide E15 permanent.”

    BACKGROUND

    As Governor of Nebraska, Ricketts made repeated requests of the EPA to allow the year-round sale of E-15. As Senator, Ricketts co-sponsors the Consumer Fuel and Retailer Choice Act, which would make permanent its year-round sale. Ricketts also frequently touts the benefits of ethanol and other renewable fuels as a member of the Environment and Public Works Committee, which oversees the EPA. In addition, Ricketts co-leads the bipartisan Flex Fuel Fairness Act with Senator Amy Klobuchar (D-MN) to level the playing field for vehicles running on higher blends of ethanol.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Sex offenders to be stripped of refugee protections

    Source: United Kingdom – Executive Government & Departments

    News story

    Sex offenders to be stripped of refugee protections

    Foreign nationals who commit sex offences will be excluded from asylum protections in the UK as part of the Border Security, Asylum and Immigration Bill.

    Tougher border security measures will keep British streets safer, with foreign sex offenders to be excluded from refugee protections as the government announces new measures to slash the asylum backlog and strengthen border security through the Plan for Change. 

    At present, the Refugee Convention entitles countries to refuse asylum to terrorists, war criminals and individuals convicted of a ‘particularly serious crime’ who present a danger to the community – defined in the UK as an offence carrying a sentence of 12 months or more.

    For the first time, any conviction of a crime that qualifies a foreign national for the sex offenders register will lead to them being denied refugee status, toughening our approach to border security through stricter enforcement of the rules.

    The law change, which will be introduced through a new amendment to the Border Security, Asylum and Immigration Bill, also marks a further step in the government’s landmark mission to halve violence against women and girls in a decade, making Britain’s streets safer and sending a clear message that sexual offences will be treated with the seriousness they deserve. 

    The new law comes alongside stronger measures to cut the asylum backlog and save taxpayer money, by giving the tribunals a new target to reduce the time they take to consider appeals from asylum seekers in accommodation, as well as rolling out artificial intelligence (AI) across asylum processing to speed up decision making.

    Under the new measures, the first-tier Tribunal Immigration and Asylum Chamber will have a new 24-week target to decide appeals brought by those receiving accommodation support, or who are foreign offenders. This will help stop lengthy legal battles, moving failed asylum seekers out of hotels faster and removing those with no right to be in the country. 

    The bill will also introduce tougher measures to weed out people who pose as immigration lawyers or advisers, by offering ‘advice’ to migrants on how to claim asylum in the UK and lodge fraudulent claims. The Immigration Advice Authority (IAA) will get expanded powers to hit these crooks with fines of up to £15,000.

    Major progress has already been made in fixing the foundations of the asylum system under the new government, with the return of more than 24,000 people with no right to be in the UK in the first 9 months after the election, including a 16% increase in removals of foreign criminals, and asylum decision-making up 52% in the last 3 months of 2024.

    Home Secretary Yvette Cooper said: 

    We are restoring order to a broken asylum system that has been mired in delay and dysfunction for far too long, and we are strengthening our system to make sure that the rules are respected and enforced.

    Sex offenders who pose a risk to the community should not be allowed to benefit from refugee protections in the UK. We are strengthening the law to ensure these appalling crimes are taken seriously.

    Nor should asylum seekers be stuck in hotels at the taxpayers’ expense during lengthy legal battles. That is why we are changing the law to help clear the backlog, end the use of asylum hotels and save billions of pounds for the taxpayer. 

    This is part of our Plan for Change to strengthen our borders, make our streets safer and restore order to the broken system the last government left behind.

    Safeguarding and Violence Against Women and Girls Minister Jess Philips said:

    We are determined to achieve our mission of halving violence against women and girls in a decade.

    That’s exactly why we are taking action to ensure there are robust safeguards across the system, including by clamping down on foreign criminals who commit heinous crimes like sex offences.

    It is right we ensure that convicted, registered sex offenders are not entitled to refugee status, as part of our work to see these awful crimes treated with the seriousness they deserve and perpetrators held to account.

    Alongside these measures, AI will be deployed to support caseworkers to make swifter decisions on asylum claims – preventing asylum seekers from being stuck in limbo at the taxpayers’ expense, delivering quicker answers to those in need and removal of those with no right to be here. 

    Caseworkers will use AI to speed up access to the relevant country advice, and summarise lengthy interview transcripts, streamlining asylum processing without compromising on the quality of human decisions. The tech could save decision makers up to an hour per case.  

    As announced last month, alongside these critical measures to reform the asylum system, the government will also table an amendment to the bill which requires companies hiring people in the gig economy to carry out checks confirming that anyone working in their name is eligible to work in the UK, bringing them in line with other employers.

    These vital checks confirm someone’s immigration status and allow them to legally work in the UK, meaning that for the very first time, employment checks will be extended to cover businesses hiring gig economy and zero-hours workers in sectors like construction, food delivery, beauty salons and courier services. 

    In addition to these measures, the landmark Border Security, Asylum and Immigration Bill will empower law enforcement to intervene faster and more effectively, using counterterror-style powers to disrupt the people-smuggling gangs and placing restrictions on foreign offenders living in the community, including mandatory electronic tags, strict night-time curfews and enforced exclusion zones while awaiting removal. 

    Further background

    The measures are to be tabled ahead of report stage of the landmark Border Security, Asylum and Immigration Bill in the House of Commons. 

    Foreign sex offenders

    Under the UK Borders Act 2007, a deportation order must be made where a foreign national has been convicted of an offence and received a custodial sentence of at least 12 months. This is subject to several exceptions, including where it would breach UK’s obligations under the Refugee Convention.

    However, the Refugee Convention allows protection to be denied to those who, having been convicted of a ‘particularly serious crime’, constitute a danger to the community in the UK. The proposed amendment will create a presumption that individuals convicted of sexual offences making them subject to notification requirements will be denied this protection. This does not alter the long-standing principle that all claims must be considered on a case-by-case basis, to ensure they meet the criteria regarding the seriousness of the crime, and the danger posed to the community

    Supported accommodation and foreign national offender appeals

    Under the new proposals, the first-tier Tribunal of the Immigration and Asylum Chamber will be required to determine an asylum appeal lodged by a person receiving accommodation support, or from a non-detained foreign national offender within 24 weeks where it is reasonably practicable to do so. The latest published statistics show appeals to the tribunal take on average nearly 50 weeks to process.

    Currently, there is no set timeframe for the courts to consider these cases. Speeding up these appeals will help keep people moving through the asylum system rather than get stuck in accommodation at a cost to the taxpayer and speed up foreign offender deportations. This will assist with ending the use of hotels as asylum accommodation and facilitate swifter deportations.

    Just last month (March 2025), the government also announced more funding to boost the number of days the first-tier and upper-tier tribunals (of the Immigration and Asylum Chamber) can sit at near maximum capacity, helping to speed up decision-making and keep the system moving. 

    Immigration advice

    Providing immigration advice without being registered with the IAA or a recognised legal regulatory body is a criminal offence which can lead to jail time, and the new amendments to the Border Security, Asylum and Immigration Bill will give the IAA stronger powers to pursue those who breach those rules.

    The IAA is the only regulatory watchdog that can investigate and prosecute those pretending to be immigration lawyers or qualified advisers without any authority to do so. These sham lawyers could be acting as middlemen for those trying to abuse the immigration system in a bid to stay in the UK or trying to cash in on people’s desperation providing poor quality or outright fraudulent immigration advice. 

    Illegal working

    The government previously announced it will strengthen illegal working checks in a new amendment as set out on GOV.UK.

    On wider government AI work

    This new tool follows the Prime Minister setting out that he will ‘push forward with the digitisation of government services’ to find £45 billion worth of productivity savings, as the Department for Science, Innovation and Technology sets out how it will put AI and technology to work across public services.

    Updates to this page

    Published 28 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Congressman Dan Goldman Hosts Press Conference Announcing Community-Based Gun Violence Intervention Legislation

    Source: US Congressman Dan Goldman (NY-10)

    More Than 17,000 Children and Teenagers Shot Each Year, 4,000 Will Die

    Last Week, Trump Admin Canceled Well Over $180 Million in DOJ Violence Prevention and Grants 

    PROSPER Act Provides Resources and Funding to On-Ground Efforts Already Proven Effective  

     

    See Pictures and Video from Press Conference Here 
    Read the Bill Here

    New York, NY– Congressman Dan Goldman (NY10) held a press conference to announce the reintroduction of his bill, the ‘Prioritizing Resources for Outreach, Safety, Violence Prevention, Youth Empowerment and Resilience’ (PROSPER) Act. This legislation invests in community-based organizations that focus on gun violence intervention and prevention. The bill is intended to ensure these organizations have the support and resources they need to curb gun violence in their local communities.

    Last week, the Trump Administration abruptly canceled hundreds of Department of Justice Grants for gun violence prevention, addiction prevention, and victim advocacy across the country. While Trump and the GOP claim crime prevention and public safety are among their chief concerns, they are kneecapping the very organizations responsible for improving both.

    “As gun violence continues to ravage our communities every year, it’s critical we address this epidemic with a comprehensive, multi-faceted approach,” Congressman Dan Goldman said. “This means not only common-sense gun safety legislation but also investing in community-based intervention and prevention programs that tackle the demand for guns. We have proof of what works, and it’s imperative that we continue to support and strengthen these effective programs. While Trump undermines our public safety by slashing grants for DOJ violence prevention initiatives, legislation like the PROSPER Act is essential to equip local organizations with the resources they need to combat cyclical violence and make our communities safer.”

    The Congressman was joined by representatives from gun violence prevention organizations, as well as New Yorkers who have been personally impacted by gun violence. 

    Rebecca Fischer, Executive Director of New Yorkers Against Gun Violence, said, “While Trump is defunding gun violence prevention initiatives and rolling back public-safety efforts, Congressman Goldman is fighting every day for New Yorkers and leading to save lives. NYAGV knows first-hand how critical community violence intervention programs are for Americans most impacted by gun violence, especially our youth. Gun violence is the leading cause of death for youth nationally and in NYS, and the PROSPER Act is fresh air for all of us who are committed to creating safer environments for our children – in our schools and in our streets. The legislation will authorize substantial funding for the Youth Gun Violence Prevention Grant Program, ensuring a dedicated and consistent source of support for initiatives specifically targeting youth gun violence. This bill ensures that those who are on the ground and understand their communities best will have the necessary resources to implement effective prevention strategies. Thank you Congressman Dan Goldman for your outstanding leadership and for championing this life-saving funding bill.”

    Mark Collins, Director of Federal Policy for Brady: United Against Gun Violence, said, “As gun violence continues to threaten the lives of American youth, it is imperative that we as a nation invest in our children and their future. The Youth Gun Violence Prevention Grant Program under the Department of Justice’s Office of Juvenile Justice and Delinquency Prevention will do just that, providing necessary support to community-oriented violence prevention initiatives and programs aimed at juvenile justice. This investment will strengthen communities across the country and allow our nation’s children to grow into healthy, prosperous members of society. Brady thanks Congressman Goldman for reintroducing the PROSPER Act and for his continued dedication to building up the next generation of Americans.”

    Emma Brown, Executive Director at GIFFORDS, said, “Guns are the leading cause of death for American children, an unacceptable fact. Many young people in this country are continually exposed to community violence. Rep. Goldman’s bill would open an alternate path by funding youth violence prevention programs in communities nationwide, protecting at-risk children and helping to interrupt cycles of violence. We thank Representative Goldman for introducing this crucial legislation, and urge Congress to pass it swiftly.” 

    Dr. Gisele Castro, Chief Executive Officer of exalt, said, “To solve complex problems, we must work with those most proximate to them. This legislation proposes to do exactly that by bringing much needed resources to leaders who are deploying real solutions to youth violence. Our model at exalt provides youth with support through educational progress and pathways to fulfilling careers that enable them to earn a living wage. In this way, exalt empowers justice-involved youth to achieve both academic success and social and economic mobility.  I applaud Congressman Goldman for his thoughtful approach and for introducing this legislation. Together, with the right investments, we can create more resilient, safe, and prosperous communities.” 

    Daniela Gilbert, Director of Redefining Public Safety at the Vera Institute of Justice, said, “Far too many young people—especially Black youth and other young people of color—are growing up in communities where gun violence is a daily threat and opportunity is out of reach. The PROSPER Act is a critical step toward breaking that cycle by investing in what works: community-centered and evidence-based solutions that prevent violence. This bill brings us closer to a future where every young person has the support they need to thrive—not just survive.”

    David Garza, President & CEO of Henry Street Settlement, said, “We are grateful to Representative Dan Goldman for his leadership in providing crucial resources to prevent gun violence among New York City youth. With a 132-year history on the Lower East Side, Henry Street understands that the way to make neighborhoods safe is by ensuring that youth are connected to their communities, and one key way to ensure that is by providing meaningful and responsive human services, including a high-quality, versatile educational, employment, athletics and enrichment, and mental health programming. There is no single answer to violence prevention, but with hope in one hand, opportunity in the other, and someone behind you that believes in you, young people not only can stay safe but can be part of the solution toward moving communities to safety.

    Gun violence is the leading cause of death for American youth. More than 17,000 children are shot each year, resulting in over 4,000 tragic and preventable deaths. Gun violence also has a disproportionate impact on communities of color, with Black children and teens being 20 times more likely to die in a gun-related homicide than their White peers. 

    Young people exposed to gun violence often suffer long-lasting physical, psychological, and emotional trauma. These experiences increase the risk of substance abuse, mental health disorders, and even the perpetuation of violent behavior—creating a tragic cycle of violence that affects future generations. The economic toll of these cycles is staggering, with youth violence costing an estimated $122 billion each year in medical expenses, lost employment opportunities, and diminished quality of life due to injury.

    Evidence-based, community-driven programs have had great success in curbing violence at the local level. For example, Chicago’s Youth Violence Prevention Center reduced local homicides by 17% in one year, even as the city’s overall homicide rate increased. The PROSPER Act will address the demand for guns by reducing the conditions that lead young people into cycles of violence in the first place. This legislation is intended to empower young people, not punish them.

    To address the gun violence epidemic, the  PROSPER Act:

    • Authorizes a new Youth Gun Violence Prevention Program under the Department of Justice’s (DOJ’s) Office of Juvenile Justice and Delinquency Prevention (OJJDP). 

    • This dedicated program would invest in locally tailored and evidence-based violence prevention initiatives by awarding grants to community-based organizations, local, state, and tribal governments.    

    • Provides $100 million in funding for each of the following five fiscal years for Title V Incentive Grants for Local Delinquency Prevention. 

    • This includes $25 million in funding per year for the new Youth Gun Violence Prevention Program. The remaining funding would be allocated for other juvenile justice programs carried out by the DOJ such as gang prevention, opioid affected youth, children exposed to violence, trafficking prevention, etc. 

    Congressman Goldman has made gun violence prevention a centerpiece of his time in office. 

    In March, the Congressman joined colleagues in sending a letter to Meta CEO Mark Zuckerberg highlighting Meta’s failure to adequately regulate advertisements for gun silencers on its platform and requesting clarification around the platform’s ad moderation process.  
    In February, the Congressman joined Rep. DeLauro in introducing ‘Ethan’s Law’, which would set federal standards for safe gun storage and establish incentives for states to create and implement safe gun storage laws. 
    In January, the Congressman joined Reps. Blumenthal, Dean, Raskin, Thompson, and Johnson in leading 43 of his colleagues in an amicus brief to the Supreme Court in Smith & Wesson Brands, Inc. et al., v. Estados Unidos Mexicanos, to hold American gun manufacturers responsible for aiding and abetting illegal arms trafficking to Mexican drug cartels and fueling gun violence across Mexico. 

    Congressman Goldman is the Chair of the Gun Violence Prevention Working Group on Dads Caucus.

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    MIL OSI USA News –

  • MIL-Evening Report: ‘Complaining is career suicide’: the hidden mental health crisis turning our screen industry upside down

    Source: The Conversation (Au and NZ) – By Peter Hegedus, Associate Professor, Griffith Film School, Griffith University

    Shutterstock

    The Australian screen industry is often associated with fun, creativity and perhaps even glamour. But our new Pressure Point Report reveals a more troubling reality: a pervasive mental health crisis, which could see the screen industry lose a significant number of workers in the near future.

    The two-year study led by Griffith University found burnout levels mirroring those found among healthcare workers.

    Of the 864 survey responses we analysed, 72% said the screen industry is not a mentally healthy place to work, 36% frequently considered quitting in the past six months, and 25% said they would likely quit within the next six months.

    The human toll of creativity

    Working in film and television industry has been glamourised, with many aspiring creatives willing to endure difficult conditions to be part of making screen magic.

    In a fast-paced environment, where budgets and timelines are squeezed, half of the survey respondents reported facing constant unreasonable deadlines, and 57% described themselves as completely drained by the end of the day.

    Even more alarming, 59% struggled with work-life balance, having “little to no life outside of work”, and 62% felt pressured to not claim basic entitlements such as sick leave or holiday pay.

    As one participant told us:

    I’ve missed birthdays, weddings, and my kid’s school events because of impossible deadlines that could have been managed better with proper planning.

    Historically, the industry has relied on workers’ passion to offset poor conditions. However, we’re now seeing a breaking point where even the most dedicated professionals are questioning if it’s worth the personal cost.

    A culture of silence

    The concerning statistics from our study uncover an underlying culture of misconduct by both practitioners and supervisors. Almost half of respondents experienced bullying in the past year, while 35% encountered sexual harassment or discrimination.

    More troubling still, 36% of victims never formally reported incidents. They feared career damage, or that nothing would be done.

    One respondent confided:

    after witnessing how others were treated when they spoke up, I decided to stay quiet about my own experiences. It feels like complaining is career suicide in this industry.

    This response echoes many of the other voices we heard from. Such experiences can lead to a toxic cycle in which unchecked workplace behaviours further damage people’s mental health across the industry.

    Inequality compounds the problem

    Our research demonstrates the mental health burden falls disproportionately on already marginalised groups.

    Women face higher rates of unmanageable workload (54% compared to 38% for men) and poorer work/life balance. They also reported sexual harassment at more than triple the rate of men.

    LGBTQIA+ practitioners are significantly worse off, too. They experience elevated rates of depression and sleep issues.

    Aboriginal and Torres Strait Islander, culturally and linguistically diverse practitioners, and those living with a disability also face significantly higher rates of negative experiences.

    The highest rates of adverse interactions were experienced by neurodivergent professionals and those with pre-existing mental health conditions. Many of them told us that others routinely disregard their professional opinions.

    Beyond ‘wellness workshops’

    “This industry needs more than a quick fix — it needs real, lasting change,” one veteran crew member emphasised. “That means calling out toxic behaviour, backing workers with proper support, and creating fair conditions where people are treated with respect.”

    Our study highlights that surface-level solutions, such as isolated mental health workshops, can’t address the industry’s systemic problems.

    Three-quarters of industry workers reported needing mental health support specifically because of their work. We have also found deep flaws in how productions are structured – and a need for the entire industry to see film sets as workplaces just like any other.

    Genuine structural change is needed to stop the talent drain currently facing the screen industry.

    A wake-up call

    We recently presented our findings at Mental Health Matters: A Screen Leaders’ Summit, to a number of screen industry leaders, from producers to screen funding agency representatives.

    The summit discussed potential reform models from other high-stress industries, including the construction industry’s MATES program and the UK Film and TV Charity’s Whole Picture Toolkit.

    Doing more for Australia’s screen industry matters, not just because it produces entertainment for us — but because it captures our national identity and gives us a global voice.

    An exodus of talent would threaten both the quantity and quality of local content. Australia has worked hard to position itself as a global production hub, attracting major international projects and Hollywood blockbusters that create jobs and build expertise.

    If nearly a quarter of the workforce exits, the industry would severely diminish its capacity to capitalise on these opportunities.

    Peter Hegedus receives funding from Screen Queensland for developing and producing documentaries.

    Bobbi-Lea Dionysius receives funding from Screen Queensland for developing and producing documentaries and VR projects. She is affiliated with Women in Film & TV (WIFT).

    – ref. ‘Complaining is career suicide’: the hidden mental health crisis turning our screen industry upside down – https://theconversation.com/complaining-is-career-suicide-the-hidden-mental-health-crisis-turning-our-screen-industry-upside-down-254593

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Governor Phil Scott Appoints Brandon Thrailkill as Caledonia County Sheriff

    Source: US State of Vermont

    Montpelier, Vt. – Governor Phil Scott today announced he has appointed Brandon Thrailkill of Lyndonville as Caledonia County Sheriff following the passing of former Sheriff James Hemond earlier this spring.

    “Brandon has a proven track record of public service in Caledonia County both as a law enforcement officer and as an active member in his community,” said Governor Phil Scott. “As a lifelong resident of Caledonia County, I believe Brandon will serve Vermonters well in this role.”

    Thrailkill has served as a law enforcement officer for over 13 years. He most recently served as the state transport deputy for the Caledonia County Sheriff’s Department where he rose to the rank of captain within the Department. Prior to that, Thrailkill worked at the Lyndonville Police Department as a patrol officer.

    “It’s an absolute honor to have been appointed sheriff to serve the people of Caledonia County. I have big shoes to fill but I look forward to bringing open communication, integrity and continue building trust within the communities we serve,” said Thrailkill. “Caledonia County is my home, and I will lead with purpose and with the community’s wellbeing as a top priority.”

    Thrailkill’s appointment is effective immediately.

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    MIL OSI USA News –

  • MIL-OSI Security: 2 felons sentenced for illegal reentry into the country

    Source: Office of United States Attorneys

    McALLEN, Texas – Two foreign nationals have been ordered to federal prison for returning to the United States without authorization, announced U.S. Attorney Nicholas J. Ganjei.

    Porfirio Martinez-Santos, 55, Mexico, pleaded guilty Dec. 17, 2024, while Juan Esteban Zelaya-Hernandez, 42, Honduras, admitted his guilt Jan. 31.

    Chief U.S. District Judge Randy Crane has now ordered Martinez-Santos and Zelaya-Hernandez to serve 42 and 21 months in federal prison, respectively. At their hearings, the court heard additional evidence regarding both men’s criminal histories. Zelaya-Hernandez has two convictions from 2023 for possession of a firearm by a felon and illegal reentry. In handing down the sentences, Judge Crane noted Martinez-Santos had previously served a 37-month sentence for illegal reentry.

    Both are again expected to face removal proceedings following their prison terms.

    Law enforcement found Martinez-Santos near Cuevitas Oct. 4, 2024, while they discovered Zelaya-Hernandez near La Homa the following month. Both had claimed they had illegally entered the United States on the same day of their respective discoveries near Hidalgo.

    The investigation revealed Zelaya-Hernandez had been ordered removed in August 2024 after serving a federal prison sentence for two felonies. Martinez-Santos was removed in 2023.

    Both men have been and will remain in custody pending transfer to a Federal Bureau of Prisons facility to be determined in the near future.

    Border Patrol conducted the investigations. Assistant U.S. Attorney Avery Benitez prosecuted the cases.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces and Project Safe Neighborhood.

    MIL Security OSI –

  • MIL-OSI Security: Prior felon arrested for illegal re-entry

    Source: Office of United States Attorneys

    BUFFALO, N.Y. – U.S. Attorney Michael DiGiacomo announced today that Jhonser Rafael Coste-Morales, 38, a citizen of the Dominican Republic, was arrested and charged by criminal complaint with illegal re-entry of a removed alien, which carries a maximum penalty of 20 years in prison and a $250,000 fine.

    Assistant U.S. Attorney Nicholas M. Testani, who is handling the case, stated that according to the complaint, on May 26, 2024, a New York State Trooper in Painted Post, NY, arrested two individuals for possession of fentanyl. U.S. Border Patrol was contacted to assist in verifying foreign documents provided by the two individuals. Record checks determined that one of the individuals, Coste-Morales, was a citizen and national of the Dominican Republic and had been previously deported from the United States following an aggravated felony conviction. On April 14, 2025, Border Patrol agents received a call that Coste-Morales was going to be released from custody. Coste-Morales was subsequently arrested again and taken into custody.

    Coste-Morales legally entered the United States in April 2013 and became a Lawfully Admitted Permanent Resident in August 2017. In April 2022, he was convicted of a felony drug charge in Montour County, Pennsylvania, and in October 2023, he was deported back to the Dominican Republic.

    Coste-Morales made an initial appearance before U.S. Magistrate Judge Colleen D. Holland and was detained.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime.

    The complaint is a result of an investigation by U.S. Border Patrol, under the direction of Patrol Agent in Charge Juan Ramirez and the New York State Police, under the direction of Major Kevin Sucher.

    The fact that a defendant has been charged with a crime is merely an accusation and the defendant is presumed innocent until and unless proven guilty.     

    # # # #

    MIL Security OSI –

  • MIL-OSI Security: Alleged Purse Thief Charged with Robbery, Aggravated Identity Theft, and Wire Fraud

    Source: Office of United States Attorneys

    WASHINGTON – Mario Bustamante Leiva, 49, a Chilean National who is in the U.S. illegally, was arrested on April 26, 2025, on a criminal complaint charging wire fraud, aggravated identity theft, and robbery in connection with three purse snatchings in the District and the unauthorized use of victim credit cards.

    The charges were announced by U.S. Attorney Edward R. Martin Jr., U.S. Secret Service Special Agent in Charge Matt McCool, and Chief Pamela Smith of the Metropolitan Police Department (MPD).

    An initial appearance in U.S. District Court is pending. Bustamante Leiva appeared in Superior Court today on an unrelated fugitive warrant. U.S. Immigration and Customs Enforcement has lodged an immigration detainer against him.

    According to court documents, on April 12, 2025, a victim reported to MPD that her purse was stolen from the back of her chair while she was dining at Nando’s restaurant, in the 800 block of F Street, NW. Law enforcement recovered video surveillance of the suspect who appeared to be acting in concert with a second individual (Suspect 2). An unauthorized transaction totaling more than $500 was made using the victim’s credit card.

    On April 17, 2025, a victim at the Westin Hotel, in the 900 block of 9th Street, NW, reported her purse had been stolen while it was hanging on the back of her chair, while she was having dinner. Two unauthorized transactions for more than $400 were made using the victim’s credit card.

    On April 20, 2025, a third victim, who was dining at the Capital Burger restaurant in the 1000 block of 7th Street, NW, reported that her purse, which she had placed at her feet while dining, had gone missing. Law enforcement recovered video surveillance of the suspect, who made unauthorized transactions, totaling more than $200, using the victim’s credit card. The victim also lost cash and personal documents.

    “Thanks to the efforts of the Secret Service working in concert with the Metropolitan Police Department, this alleged thief was quickly identified, arrested, and, with the deft management of the Assistant US Attorney, charged,” said U.S. Attorney Martin.  “He will be prosecuted to the fullest extent of the law.”

    “We began this investigation with only a grainy security video of a masked offender,” said U.S. Secret Service Washington Field Office Special Agent in Charge, Matt McCool. “The subsequent arrests in this case are a testament to the extraordinary investigative work by the analysts and special agents of the Washington Field Office, the USSS Uniformed Division, and the Metropolitan Police Department.   We also received valuable assistance from our partners at the Washington Metropolitan Area Transit Authority, Homeland Security Investigations, U.S. Customs and Border Patrol, and Immigration and Customs Enforcement.”

    During the course of the investigation, law enforcement learned that on April 19, 2025, Bustamante Leiva had reported a robbery to Montgomery County (MD) Police, claiming a bag containing his belongings were stolen from him while he was asleep on a bench.

    On April 26, 2025, law enforcement from the U.S. Secret Service and MPD went to a location where Bustamante Leiva was staying, located him, and placed him under arrest. Following his arrest, law enforcement interviewed Bustamante Leiva in connection with the purse thefts.

    This case is being investigated by the U.S. Secret Service and MPD. It is being prosecuted by Assistant U.S. Attorney Benjamin Helfand.

    MIL Security OSI –

  • MIL-OSI Security: Saugus Man Sentenced to 15 Years in Prison for Drug Conspiracy Involving Tens of Thousands of Counterfeit Pills and Firearm Offense

    Source: Office of United States Attorneys

    BOSTON – A Saugus man was sentenced today in federal court in Boston for a drug conspiracy involving tens of thousands of counterfeit pills containing methamphetamine, pills containing fentanyl and a firearm offense.

    Aaron Lenardis, 38, was sentenced by U.S. District Court Judge Leo T. Sorokin to 15 years in prison, to be followed by five years of supervised release. In November 2024, Lenardis was convicted by a federal jury of conspiracy to possess with intent to distribute 500 grams or more of methamphetamine and 40 grams or more of fentanyl; one count of possession with intent to distribute 500 grams or more of methamphetamine and 40 grams or more of fentanyl; and one count of being a felon in possession of firearms and ammunition. In February 2023, Lenardis was indicted along with co-conspirator Charles Bates.

    In August 2022, an investigation began into Bates after he ordered 50 kilograms of an orange binding agent commonly used to make counterfeit Adderall pills, which he was observed picking up at a UPS store in Boston. Bates brought the binding agent to Lenardis’s house in Saugus, where he and Lenardis used it to manufacture counterfeit pills using a pill press.

    Throughout September 2022 and October 2022, Bates exchanged text messages with drug customers and associates in which he spoke about pills that are “made to order,” described being physically present at the place where the pills were made—Lenardis’s house—and “watching the guy work so no corners have been cut.” Bates described the pill press being used for 20 hours at a time and producing 5,000 pills per hour. In total, the offense involved at least 136,000 counterfeit pills containing methamphetamine, equivalent to approximately 40 kilograms of such pills.  

    After the pill press broke, Bates traveled to Pawtucket, R.I. to obtain a replacement. Bates and Lenardis were observed carrying the replacement pill press into Lenardis’ residence in Saugus.

    A search of Lenardis’ residence in Saugus on Oct. 25, 2022 resulted in the seizure of an industrial pill press; 14 firearms including a Glock outfitted to operate as a machinegun; at least 1.85 kilograms of pills; powder containing methamphetamine; at least 87.6 grams of pills and powder containing fentanyl and “M30” stamps commonly used to manufacture counterfeit pills.

    In November 2024, Bates was sentenced to 10 years in prison to be followed by five years of supervised release.

    United States Attorney Leah B. Foley and Stephen Belleau, Acting Special Agent in Charge of the Drug Enforcement Administration, New England Field Division made the announcement today. Assistant U.S. Attorneys Samuel R. Feldman and Charles Dell’Anno of the Narcotics & Money Laundering Unit prosecuted the case.        

    MIL Security OSI –

  • MIL-OSI Security: Operation Smoke and Mirrors Update: Jackson County Man Sentenced to 10 Years in Prison for Role in Methamphetamine Trafficking Organization

    Source: Office of United States Attorneys

    CHARLESTON, W.Va. – Mark Leslie Lively, 58, of Kenna, was sentenced today to 10 years in prison, to be followed by five years of supervised release, for conspiracy to distribute 50 grams or more of methamphetamine and possession with intent to distribute 50 grams or more of methamphetamine.

    A federal jury convicted Lively on July 17, 2024, following a two-day trial. Evidence at trial proved that Lively participated in a drug trafficking organization (DTO) that operated in the Charleston area from about November 2022 to in or about March 2023. Members of the DTO conspiracy commonly obtained their controlled substances on consignment, paying their suppliers with proceeds from distributing them to customers. On February 2, 2023, law enforcement officers watched Funderburk and Lively meet in an alley near Washington Street West in Charleston, where Funderburk provided approximately 138 grams of methamphetamine to Lively.

    As Lively drove away from the meeting place, a law enforcement officer conducted a traffic stop of Lively’s vehicle and requested the assistance of a police K-9 unit. The police K-9 alerted to the presence of controlled substances in the vehicle. The officer searched Lively’s vehicle and seized the methamphetamine hidden underneath the dashboard.

    The evidence at trial established that Lively intended to distribute the methamphetamine that he received from Funderburk.

    Lively has a long criminal history that now includes 34 criminal convictions, with at least eight of those prior convictions for felony offenses.

    “The defendant is a hardened criminal who has shown time and again that if he is on the streets, he is committing crimes,” said Acting United States Attorney Lisa G. Johnston. “After decades of failing to curb his lawlessness, he participated in a large-scale drug trafficking organization that caused untold harm to the community. Today’s sentence will spare the community further harm by this defendant for an extended period of time.”

    Lively and Funderburk are among 31 individuals convicted as a result of Operation Smoke and Mirrors, a major drug trafficking investigation that has yielded the largest methamphetamine seizure in West Virginia history. Law enforcement seized well over 400 pounds of methamphetamine as well as 40 pounds of cocaine, 3 pounds of fentanyl, 19 firearms and $935,000 in cash.

    Funderburk, 39, of Charleston, was sentenced on October 3, 2024, to 13 years and six months in prison, to be followed by four years of supervised release, for conspiracy to distribute 50 grams or more of a mixture and substance containing a detectable amount of methamphetamine, conspiracy to distribute a quantity of cocaine, conspiracy to distribute a quantity of fentanyl, and for violating supervised release. Funderburk is among 30 of the defendants who pleaded guilty.

    Johnston made the announcement and commended the investigative work of the Federal Bureau of Investigation (FBI), the Drug Enforcement Administration (DEA), the U.S. Department of Homeland Security-Homeland Security Investigations (HSI), the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), the U.S. Postal Inspection Service, the Metropolitan Drug Enforcement Network Team (MDENT), the West Virginia State Police, the West Virginia National Guard Counter Drug program, the Kanawha County Sheriff’s Office, the Charleston Police Department, the Putnam County Sheriff’s Office and the Raleigh County Sheriff’s Office. MDENT is composed of the Charleston Police Department, the Kanawha County Sheriff’s Office, the Putnam County Sheriff’s Office, the Nitro Police Department, the St. Albans Police Department and the South Charleston Police Department.

    United States District Judge Thomas E. Johnston imposed the sentence. Assistant United States Attorney Jeremy B. Wolfe prosecuted the case.

    The investigation was part of the Department of Justice’s Organized Crime Drug Enforcement Task Force (OCDETF). The program was established in 1982 to conduct comprehensive, multilevel attacks on major drug trafficking and money laundering organizations and is the keystone of the Department of Justice’s drug reduction strategy. OCDETF combines the resources and expertise of its member federal agencies in cooperation with state and local law enforcement. The principal mission of the OCDETF program is to identify, disrupt and dismantle the most serious drug trafficking organizations, transnational criminal organizations and money laundering organizations that present a significant threat to the public safety, economic, or national security of the United States.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Southern District of West Virginia. Related court documents and information can be found on PACER by searching for Case No. 2:23-cr-31.

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    MIL Security OSI –

  • MIL-OSI Security: Connecticut Man Who Committed Narcotics Offense While on Federal Supervised Release Sentenced to 10 Years in Prison

    Source: Office of United States Attorneys

    BOSTON – A Connecticut man was sentenced today in federal court in Worcester for his role in a fentanyl trafficking conspiracy.

    Hector Soto Gonzalez, 44, was sentenced by U.S. District Court Judge Margaret R. Guzman to 10 years in prison, to be followed by five years of supervised release. In January 2024, Mercado Aponte was charged with one count of conspiracy to possess with intent to distribute four hundred grams or more of fentanyl and one count of distribution of and possession with intent to distribute fentanyl.

    Beginning at least as early as June 2023, while Soto Gonzalez was on federal supervised release after serving a 10-year sentence for a narcotics conviction in the District of Puerto Rico, Soto Gonzalez became a source of supply for fentanyl for co-defendant Jose Mercado Aponte. Mercado Aponte travelled from Massachusetts to the area of Soto Gonzalez’s residence in Hartford, Conn., on multiple occasions to pick up drugs that Mercado Aponte then provided to a cooperating witness (CW).  
        
    On Nov. 13, 2023, Mercado Aponte arranged to sell a kilogram of fentanyl to the CW. On that date, Mercado Aponte communicated with the CW to coordinate the deal and then made three calls to Soto Gonzalez. Later that afternoon, law enforcement conducting surveillance of the residence observed Soto Gonzalez leave his residence and put something in his trunk. Soto Gonzalez subsequently departed his residence in his truck and travelled from Connecticut to Massachusetts where a traffic stop was conducted and approximately one kilogram of fentanyl was located inside the vehicle. Soto Gonzalez was released from federal custody in May 2022 after being sentenced and serving 70 months in prison.
        
    United States Attorney Leah B. Foley; James Crowley, Acting Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; Colonel Geoffrey Noble of the Massachusetts State Police; and Commissioner Shawn Jenkins of the Massachusetts Department of Correction made the announcement today. The Federal Bureau of Investigation New Haven Division, Norfolk County Sheriff’s Office and the Watertown, Reading, Peabody, Hudson, Concord, Waltham, Fitchburg, Leominster and Hartford, Conn. Police Departments provided valuable assistance. Assistant U.S. Attorney J. Mackenzie Duane of the Narcotics & Money Laundering Unit is prosecuting the case.

    MIL Security OSI –

  • MIL-OSI Security: Complaint filed against Houston pharmacy and its owners for violations of the Controlled Substances Act

    Source: Office of United States Attorneys

    HOUSTON – A civil complaint has been filed seeking monetary penalties against a local pharmacy and its owners following an investigation revealing numerous fraudulent controlled substance prescriptions, announced U.S. Attorney Nicholas J. Ganjei.

    The complaint seeks civil monetary penalties from Nnwood Pharmacy and names Nnwood’s owners Cheryl Brew Greenleaf and Wendell Kirk Greenleaf, both of Houston, as defendants.

    According to the complaint, Nnwood Pharmacy registered as a retail pharmacy with Drug Enforcement Administration (DEA) May 21, 2007, and was authorized to dispense Schedule II through V controlled substances.

    The investigation revealed Nnwood dispensed numerous dosage units of powerful controlled substances that physicians located hundreds of miles from the pharmacy’s location had allegedly prescribed. It also dispensed multiple dosages of Schedule II hydrocodone and Schedule IV carisoprodol pills to numerous male customers whose prescriptions originated from doctors specializing in obstetrics and gynecology care, according to the complaint.

    Authorities executed an administrative inspection warrant July 16, 2021, at which time they seized 99 allegedly fraudulent patient prescriptions Nnwood had dispensed. The complaint alleges the prescriptions were for schedule II thru schedule IV-controlled substances and dispensed pursuant to several invalid DEA registration numbers.

    Nnwood and the Greenleafs allegedly dispensed controlled substances without a legitimate medical purpose and outside the usual course of professional practice by dispensing the fraudulent and invalid prescriptions.

    Additionally, Nnwood and the Greenleafs allegedlt failed to make, keep and furnish records and reports The Controlled Substances Act and DEA regulations require.

    According to the complaint, Nnwood was also the subject of a previous investigation in 2007. 

    “The Controlled Substances Act ensures that those who manufacture, prescribe, dispense, and distribute controlled substances do so in a safe and legitimate way. This prevents dangerous narcotics being diverted for illicit use, or for unsuspecting people to ingest dangerous drugs,” said Ganjei. The Southern District of Texas is committed to ensuring that those who endanger the public by violating the Act are held accountable.”

    “Pharmacies are the final defense against prescription drugs being diverted to the black market and into the wrong hands devastating communities,” said acting Special Agent in Charge William Kimbell of the DEA-Houston Division. “Pharmacies have a fundamental responsibility to ensure safeguards are in place to prevent the diversion of controlled substances and ensure that they are dispensing controlled substances pursuant to legitimate prescriptions.”

    The Controlled Substances Act and its implementing regulations seek to deter, detect and eliminate the diversion of controlled substances and listed chemicals into the illicit market while ensuring that an adequate supply of controlled substances and listed chemicals is available for legitimate medical, scientific, research and industrial purposes.

    The DEA conducted the investigation. Assistant U.S. Attorney Jill O. Venezia is handling the case.

    MIL Security OSI –

  • MIL-OSI Security: Ecuadoran National Charged with Illegally Reentering U.S.

    Source: Office of United States Attorneys

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, today announced that STANLIN DANIEL VASQUEZ-SALINAS, also known as “Stalin Vasquez-Salinas” and “Stalin Vasquez,” 25, a citizen of Ecuador recently residing in Danbury, has been charged by federal criminal complaint with unlawful reentry of a removed alien.

    As alleged in court documents and statements made in court, on March 11, 2025, Danbury Police arrested Vasquez-Salinas and charged him with conspiracy to commit commercial sexual abuse of a minor between the ages of 15 and 17 years old.  Vasquez-Salinas identified himself as “Stalin D. Vasquez” at the time of his arrest.  Analysis of Vasquez-Salinas’ fingerprints confirmed his true identity, and the investigation revealed that Vasquez-Salinas had illegally entered the U.S. in December 2019 and was arrested by the U.S. Border Patrol in Texas.  He was removed to Ecuador in May 2020.

    It is further alleged that, on March 14, 2025, Vasquez-Salinas was released from state custody on bond.  That same day, after a brief vehicle chase and subsequent foot pursuit, he was taken into ICE custody.

    Vasquez-Salinas has been detained since March 14, 2025.  He appeared today in Hartford federal court.  The charge of unlawful reentry of a removed alien carries a maximum term of imprisonment of two years.

    Acting U.S. Attorney Silverman stressed that a complaint is only a charge and is not evidence of guilt.  Charges are only allegations and each defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.

    This matter is being investigated by U.S. Immigration and Customs Enforcement’s Enforcement and Removal Operations, with the assistance of the Federal Bureau of Investigation.  The case is being prosecuted by Assistant U.S. Attorney Neeraj. N. Patel.

    Acting U.S. Attorney Silverman thanked the State’s Attorney’s Office for the Judicial District of Danbury for its close cooperation in investigating and prosecuting this matter.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime.  Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETF) and Project Safe Neighborhood (PSN).

    MIL Security OSI –

  • MIL-OSI: Brown & Brown, Inc. announces first quarter 2025 results, including total revenues of $1.4 billion, an increase of 11.6%; Organic Revenue growth of 6.5%; diluted net income per share of $1.15; Diluted Net Income Per Share – Adjusted of $1.29; and a quarterly dividend of $0.15 per share

    Source: GlobeNewswire (MIL-OSI)

    DAYTONA BEACH, Fla., April 28, 2025 (GLOBE NEWSWIRE) — Brown & Brown, Inc. (NYSE:BRO) (the “Company”) announced its unaudited financial results for the first quarter 2025.

    Revenues for the first quarter of 2025 under U.S. generally accepted accounting principles (“GAAP”) were $1.4 billion, increasing $146 million, or 11.6%, compared to the first quarter of the prior year, with commissions and fees increasing by 12.0% and Organic Revenue increasing by 6.5%. Income before income taxes was $427 million, increasing 17.3% from the first quarter of the prior year with Income Before Income Taxes Margin increasing to 30.4% from 28.9%. EBITDAC – Adjusted was $535 million, increasing 14.8% from the first quarter of the prior year with EBITDAC Margin – Adjusted increasing to 38.1% from 37.0%. Net income attributable to the Company was $331 million, increasing $38 million, or 13.0%, and diluted net income per share increased to $1.15, or 12.7%, with Diluted Net Income Per Share – Adjusted increasing to $1.29, or 13.2%, each as compared to the first quarter of the prior year.

    J. Powell Brown, president and chief executive officer of the Company, noted, “We continue to execute our plan and are pleased with our performance for the quarter.”

    In addition, the Company today announced that the Board of Directors has declared a regular quarterly cash dividend of $0.15 per share. The dividend is payable on May 21, 2025, to shareholders of record on May 12, 2025.

    Reconciliation of Commissions and Fees
    to Organic Revenue
    (in millions, unaudited)
         
      Three Months Ended March 31,  
      2025     2024  
    Commissions and fees $ 1,385     $ 1,237  
    Profit-sharing contingent commissions   (43 )     (46 )
    Core commissions and fees $ 1,342     $ 1,191  
    Acquisitions   (79 )      
    Dispositions         (3 )
    Foreign Currency Translation         (2 )
    Organic Revenue $ 1,263     $ 1,186  
    Organic Revenue growth $ 77        
    Organic Revenue growth %   6.5 %      
                 

    See information regarding non-GAAP measures presented later in this press release.

    Reconciliation of Diluted Net Income Per Share to
    Diluted Net Income Per Share – Adjusted
    (unaudited)
     
      Three Months Ended March 31,   Change
      2025   2024   $   %
    Diluted net income per share $ 1.15     $ 1.02     $ 0.13       12.7 %
    Change in estimated acquisition earn-out payables   (0.01 )     (0.01 )     —        
    (Gain)/loss on disposal   —       0.01       (0.01 )      
    Amortization   0.15       0.12       0.03        
    Diluted Net Income Per Share – Adjusted $ 1.29     $ 1.14     $ 0.15       13.2 %
                                   

    See information regarding non-GAAP measures presented later in this press release.

    Reconciliation of Income Before Income Taxes to EBITDAC and
    EBITDAC – Adjusted and Income Before Income Taxes Margin(1)to
    EBITDAC Margin and EBITDAC Margin – Adjusted
    (in millions, unaudited)
     
      Three Months Ended March 31,  
      2025   2024
    Total revenues $ 1,404     $ 1,258  
    Income before income taxes $ 427     $ 364  
    Income Before Income Taxes Margin(1)   30.4 %     28.9 %
    Amortization   53       43  
    Depreciation   11       11  
    Interest   46       48  
    Change in estimated acquisition earn-out payables   (4 )     (2 )
    EBITDAC $ 533     $ 464  
    EBITDAC Margin   38.0 %     36.9 %
    (Gain)/loss on disposal   2       2  
    EBITDAC – Adjusted $ 535     $ 466  
    EBITDAC Margin – Adjusted   38.1 %     37.0 %
                   

    (1)  “Income Before Income Taxes Margin” is defined as income before income taxes divided by total revenues.

    See information regarding non-GAAP measures presented later in this press release.

    Brown & Brown, Inc.
    Consolidated Statements of Income
    (in millions, except per share data; unaudited)
     
      Three Months Ended March 31,  
      2025     2024  
    REVENUES          
    Commissions and fees $ 1,385     $ 1,237  
    Investment and other income   19       21  
    Total revenues   1,404       1,258  
    EXPENSES          
    Employee compensation and benefits   683       631  
    Other operating expenses   186       161  
    Loss on disposal   2       2  
    Amortization   53       43  
    Depreciation   11       11  
    Interest   46       48  
    Change in estimated acquisition earn-out payables   (4 )     (2 )
    Total expenses   977       894  
    Income before income taxes   427       364  
    Income taxes   93       71  
    Net income before non-controlling interests   334       293  
    Less: Net income attributable to non-controlling interests   3       —  
    Net income attributable to the Company $ 331     $ 293  
    Net income per share:          
    Basic $ 1.16     $ 1.03  
    Diluted $ 1.15     $ 1.02  
    Weighted average number of shares outstanding:          
    Basic   283       281  
    Diluted   285       283  
                   
    Brown & Brown, Inc.
    Consolidated Balance Sheets
    (in millions, except per share data, unaudited)
     
      March 31,
    2025    		     December 31,
    2024    		  
    ASSETS          
    Current assets:          
    Cash and cash equivalents $ 669     $ 675  
    Fiduciary cash   1,771       1,827  
    Commission, fees, and other receivables   1,083       895  
    Fiduciary receivables   1,136       1,116  
    Reinsurance recoverable   447       1,527  
    Prepaid reinsurance premiums   480       520  
    Other current assets   331       364  
    Total current assets   5,917       6,924  
    Fixed assets, net   327       319  
    Operating lease assets   197       200  
    Goodwill   8,111       7,970  
    Amortizable intangible assets, net   1,821       1,814  
    Other assets   387       385  
    Total assets $ 16,760     $ 17,612  
    LIABILITIES AND EQUITY          
    Current liabilities:          
    Fiduciary liabilities $ 2,907     $ 2,943  
    Losses and loss adjustment reserve   462       1,543  
    Unearned premiums   542       577  
    Accounts payable   481       373  
    Accrued expenses and other liabilities   463       653  
    Current portion of long-term debt   75       225  
    Total current liabilities   4,930       6,314  
    Long-term debt less unamortized discount and debt issuance costs   3,731       3,599  
    Operating lease liabilities   186       189  
    Deferred income taxes, net   701       711  
    Other liabilities   371       362  
    Equity:          
    Common stock, par value $0.10 per share; authorized 560 shares; issued 306 shares and outstanding 287 shares at 2025, issued 306 shares and outstanding 286 shares at 2024, respectively   31       31  
    Additional paid-in capital   1,107       1,118  
    Treasury stock, at cost 20 shares at 2025 and 2024   (748 )     (748 )
    Accumulated other comprehensive loss   15       (109 )
    Non-controlling interests   20       17  
    Retained earnings   6,416       6,128  
    Total equity   6,841       6,437  
    Total liabilities and equity $ 16,760     $ 17,612  
                   
    Brown & Brown, Inc.
    Consolidated Statements of Cash Flows
    (in millions, unaudited)
         
      Three Months Ended March 31,  
      2025   2024
    Cash flows from operating activities:          
    Net income before non-controlling interests $ 334     $ 293  
    Adjustments to reconcile net income before non-controlling interests to net cash provided by operating activities:          
    Amortization   53       43  
    Depreciation   11       11  
    Non-cash stock-based compensation   29       29  
    Change in estimated acquisition earn-out payables   (4 )     (2 )
    Deferred income taxes   (10 )     (1 )
    Net loss on sales/disposals of investments, businesses, fixed assets and customer accounts   2       2  
    Payments on acquisition earn-outs in excess of original estimated payables   —       (13 )
    Other   2       —  
    Changes in operating assets and liabilities, net of effect from acquisitions and divestitures:          
    Commissions, fees and other receivables (increase)/decrease   (180 )     (142 )
    Reinsurance recoverable (increase)/decrease   1,080       60  
    Prepaid reinsurance premiums (increase)/decrease   40       33  
    Other assets (increase)/decrease   35       —  
    Losses and loss adjustment reserve increase/(decrease)   (1,081 )     (59 )
    Unearned premiums increase/(decrease)   (35 )     25  
    Accounts payable increase/(decrease)   126       (86 )
    Accrued expenses and other liabilities increase/(decrease)   (195 )     (186 )
    Other liabilities increase/(decrease)   6       6  
    Net cash provided by operating activities   213       13  
    Cash flows from investing activities:          
    Additions to fixed assets   (17 )     (13 )
    Payments for businesses acquired, net of cash acquired   (67 )     (76 )
    Proceeds from sales of businesses, fixed assets and customer accounts   9       —  
    Other investing activities   (4 )     1  
    Net cash used in investing activities   (79 )     (88 )
    Cash flows from financing activities:          
    Fiduciary receivables and liabilities, net   (90 )     (26 )
    Payments on acquisition earn-outs   (26 )     (39 )
    Payments on long-term debt   (169 )     (13 )
    Borrowings on revolving credit facility   150       150  
    Payments on revolving credit facility   —       (50 )
    Repurchase shares to fund tax withholdings for non-cash stock-based compensation   (40 )     (54 )
    Cash dividends paid   (43 )     (38 )
    Other financing activities   —       3  
    Net cash used in financing activities   (218 )     (67 )
    Effect of foreign exchange rate changes in cash and cash equivalents inclusive of fiduciary cash   22       (11 )
    Net decrease in cash and cash equivalents inclusive of fiduciary cash   (62 )     (153 )
    Cash and cash equivalents inclusive of fiduciary cash at beginning of period   2,502       2,303  
    Cash and cash equivalents inclusive of fiduciary cash at end of period $ 2,440     $ 2,150  
                   

    Conference call, webcast and slide presentation

    A conference call to discuss the results of the first quarter of 2025 will be held on Tuesday, April 29, 2025, at 8:00 AM (EDT). The Company may refer to a slide presentation during its conference call. You can access the webcast and the slides from the “Investor Relations” section of the Company’s website at bbrown.com.

    About Brown & Brown

    Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm providing enhanced customer-centric risk management solutions since 1939. With a global presence spanning 500+ locations and a team of more than 17,000 professionals, we are dedicated to delivering scalable, innovative strategies for our customers at every step of their growth journey. Learn more at bbrown.com.

    Forward-looking statements

    This press release may contain certain statements relating to future results which are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws. You can identify these statements by forward-looking words such as “may,” “will,” “should,” “expect,” “anticipate,” “believe,” “intend,” “estimate,” “plan” and “continue” or similar words. We have based these statements on our current expectations about potential future events. Although we believe the expectations expressed in the forward-looking statements included in this press release are based upon reasonable assumptions within the bounds of our knowledge of our business, a number of factors could cause actual results to differ materially from those expressed in any forward-looking statements, whether oral or written, made by us or on our behalf. Many of these factors have previously been identified in filings or statements made by us or on our behalf. Important factors which could cause our actual results to differ, possibly materially from the forward-looking statements in this press release include but are not limited to the following items: the Company’s determination as it finalizes its financial results for the first quarter of 2025 that its financial results differ from the current preliminary unaudited numbers set forth herein; the inability to hire, retain and develop qualified employees, as well as the loss of any of our executive officers or other key employees; a cybersecurity attack or any other interruption in information technology and/or data security that may impact our operations or the operations of third parties that support us; acquisition-related risks that could negatively affect the success of our growth strategy, including the possibility that we may not be able to successfully identify suitable acquisition candidates, complete acquisitions, successfully integrate acquired businesses into our operations and expand into new markets; risks related to our international operations, which may result in additional risks or require more management time and expense than our domestic operations to achieve or maintain profitability; the requirement for additional resources and time to adequately respond to dynamics resulting from rapid technological change; the loss of or significant change to any of our insurance company or intermediary relationships, which could result in loss of capacity to write business, additional expense, loss of market share or material decrease in our commissions; the effect of natural disasters on our profit-sharing contingent commissions, insurer capacity or claims expenses within our captive insurance facilities; adverse economic conditions, political conditions, outbreaks of war, disasters, or regulatory changes in states or countries where we have a concentration of our business; the inability to maintain our culture or a significant change in management, management philosophy or our business strategy; fluctuations in our commission revenue as a result of factors outside of our control; the effects of significant or sustained inflation or higher interest rates; claims expense resulting from the limited underwriting risk associated with our participation in capitalized captive insurance facilities; risks associated with our automobile and recreational vehicle dealer services (“F&I”) businesses; changes in, or the termination of, certain programs administered by the U.S. federal government from which we derive revenues; the limitations of our system of disclosure and internal controls and procedures in preventing errors or fraud, or in informing management of all material information in a timely manner; our reliance on vendors and other third parties to perform key functions of our business operations and provide services to our customers; the significant control certain shareholders have; changes in data privacy and protection laws and regulations or any failure to comply with such laws and regulations; improper disclosure of confidential information; our ability to comply with non-U.S. laws, regulations and policies; the potential adverse effect of certain actual or potential claims, regulatory actions or proceedings on our businesses, results of operations, financial condition or liquidity; uncertainty in our business practices and compensation arrangements with insurance carriers due to potential changes in regulations; regulatory changes that could reduce our profitability or growth by increasing compliance costs, technology compliance, restricting the products or services we may sell, the markets we may enter, the methods by which we may sell our products and services, or the prices we may charge for our services and the form of compensation we may accept from our customers, carriers and third-parties; increasing scrutiny and changing laws and expectations from regulators, investors and customers with respect to our environmental, social and governance practices and disclosure; a decrease in demand for liability insurance as a result of tort reform legislation; our failure to comply with any covenants contained in our debt agreements; the possibility that covenants in our debt agreements could prevent us from engaging in certain potentially beneficial activities; fluctuations in foreign currency exchange rates; a downgrade to our corporate credit rating, the credit ratings of our outstanding debt or other market speculation; changes in the U.S.-based credit markets that might adversely affect our business, results of operations and financial condition; changes in current U.S. or global economic conditions, including an extended slowdown in the markets in which we operate; disintermediation within the insurance industry, including increased competition from insurance companies, technology companies and the financial services industry, as well as the shift away from traditional insurance markets; conditions that result in reduced insurer capacity; quarterly and annual variations in our commissions that result from the timing of policy renewals and the net effect of new and lost business production; intangible asset risk, including the possibility that our goodwill may become impaired in the future; changes in our accounting estimates and assumptions; future pandemics, epidemics or outbreaks of infectious diseases, and the resulting governmental and societal responses; other risks and uncertainties as may be detailed from time to time in our public announcements and Securities and Exchange Commission (“SEC”) filings; and other factors that the Company may not have currently identified or quantified. Assumptions as to any of the foregoing, and all statements, are not based upon historical fact, but rather reflect our current expectations concerning future results and events. Forward-looking statements that we make or that are made by others on our behalf are based upon a knowledge of our business and the environment in which we operate, but because of the factors listed above, among others, actual results may differ from those in the forward-looking statements. Consequently, these cautionary statements qualify all of the forward-looking statements we make herein. We cannot assure you that the results or developments anticipated by us will be realized, or even if substantially realized, that those results or developments will result in the expected consequences for us or affect us, our business or our operations in the way we expect. We caution readers not to place undue reliance on these forward-looking statements. All forward-looking statements made herein are made only as of the date of this press release, and the Company does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which the Company hereafter becomes aware.

    Non-GAAP supplemental financial information
    This press release contains references to “non-GAAP financial measures” as defined in SEC Regulation G, consisting of Organic Revenue, EBITDAC, EBITDAC Margin, EBITDAC – Adjusted, EBITDAC Margin – Adjusted and Diluted Net Income Per Share – Adjusted. We present these measures because we believe such information is of interest to the investment community and because we believe it provides additional meaningful methods to evaluate the Company’s operating performance from period to period on a basis that may not be otherwise apparent on a GAAP basis due to the impact of certain items that have a high degree of variability, that we believe are not indicative of ongoing performance and that are not easily comparable from period to period. This non-GAAP financial information should be considered in addition to, not in lieu of, the Company’s consolidated income statements and balance sheets as of the relevant date. Consistent with Regulation G, a description of such information is provided below and a reconciliation of such items to GAAP information can be found within this press release as well as in our periodic filings with the SEC.

    We view Organic Revenue and Organic Revenue growth as important indicators when assessing and evaluating our performance on a consolidated basis and for each of our three segments, because it allows us to determine a comparable, but non-GAAP, measurement of revenue growth that is associated with the revenue sources that were a part of our business in both the current and prior year and that are expected to continue in the future. In addition, we believe Diluted Net Income Per Share – Adjusted provides a meaningful representation of our operating performance and improves the comparability of our results between periods by excluding the impact of the change in estimated acquisition earn-out payables, the impact of amortization of intangible assets and certain other non-recurring or infrequently occurring items. We also view EBITDAC, EBITDAC – Adjusted, EBITDAC Margin and EBITDAC Margin – Adjusted as important indicators when assessing and evaluating our performance, as they present more comparable measurements of our operating margins in a meaningful and consistent manner. As disclosed in our most recent proxy statement, we use Organic Revenue growth, Diluted Net Income Per Share – Adjusted and EBITDAC Margin – Adjusted as key performance metrics for our short-term and long-term incentive compensation plans for executive officers and other key employees.

    Non-GAAP Revenue Measures

    • Organic Revenue is our core commissions and fees less: (i) the core commissions and fees earned for the first 12 months by newly acquired operations; (ii) divested business (core commissions and fees generated from offices, books of business or niches sold or terminated during the comparable period); and (iii) Foreign Currency Translation (as defined below). The term “core commissions and fees” excludes profit-sharing contingent commissions and therefore represents the revenues earned directly from specific insurance policies sold and specific fee-based services rendered. Organic Revenue can be expressed as a dollar amount or a percentage rate when describing Organic Revenue growth.

    Non-GAAP Earnings Measures

    • EBITDAC is defined as income before interest, income taxes, depreciation, amortization and the change in estimated acquisition earn-out payables.
    • EBITDAC Margin is defined as EBITDAC divided by total revenues.
    • EBITDAC – Adjusted is defined as EBITDAC, excluding (gain)/loss on disposal (as defined below).
    • EBITDAC Margin – Adjusted is defined as EBITDAC – Adjusted divided by total revenues.
    • Diluted Net Income Per Share – Adjusted is defined as diluted net income per share, excluding the after-tax impact of (i) the change in estimated acquisition earn-out payables, (ii) (gain)/loss on disposal, (as defined below) and (iii) amortization.

    Definitions Related to Certain Components of Non-GAAP Measures

    • “Foreign Currency Translation” means the period-over-period impact of foreign currency translation, which is calculated by applying current-year foreign exchange rates to the various functional currencies in our business to our reporting currency of US dollars for the same period in the prior year.
    • “(Gain)/loss on disposal,” a caption on our consolidated statements of income which reflects net proceeds received as compared to net book value related to sales of books of business and other divestiture transactions, such as the disposal of a business through sale or closure.

    Our industry peers may provide similar supplemental non-GAAP information with respect to one or more of these measures, although they may not use the same or comparable terminology and may not make identical adjustments and, therefore comparability may be limited.  This supplemental non-GAAP financial information should be considered in addition to, and not in lieu of, the Company’s condensed consolidated financial statements.

    For more information:

    R. Andrew Watts
    Chief Financial Officer
    (386) 239-5770

    The MIL Network –

  • MIL-OSI: AGF Investments Extends Termination Date of AGF Emerging Markets Bond Fund

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 28, 2025 (GLOBE NEWSWIRE) — AGF Investments is extending the termination date of AGF Emerging Markets Bond Fund (the “Fund”) to on or about May 26, 2025 (the “Fund Termination Date”) in order to facilitate an orderly wind down of the Fund.

    AGF Investments previously announced the Fund Termination Date as on or about April 29, 2025.

    Effective as of the close of business on February 28, 2025, units of the Fund were no longer available for purchase and AGF Investments stopped accepting purchases and switches into the Fund, including systematic purchase and switch plans.

    AGF Investments is waiving the management fee that is normally applicable to the Fund from the close of business on February 28, 2025 until the Fund Termination Date. Note that there may be distributions paid by the Fund prior to the termination.

    Unitholders can transfer their investments into another AGF Fund or redeem their units prior to the Fund Termination Date.

    Investors who remain holding units of the Fund in client-name registered plans will have their units transferred to the same series and purchase option of AGF Canadian Money Market Fund, effective on or about May 26, 2025. Investors who remain holding units of the Fund in client-name non-registered plans and/or any nominee/intermediary-held accounts (both registered and non-registered) will have their units redeemed on or about May 26, 2025, without any redemption fees or sales charges applied.

    AGF Investments strongly encourages unitholders to consult with their financial advisor to discuss their individual circumstances, including possible tax consequences, and determine the solution that best meets their investment needs.

    About AGF Management Limited

    Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

    AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

    Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With over $52 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

    About AGF Investments

    AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). The term AGF Investments may refer to one or more of these subsidiaries or to all of them jointly. This term is used for convenience and does not precisely describe any of the separate companies, each of which manages its own affairs.

    AGF Investments entities only provide investment advisory services or offers investment funds in the jurisdiction where such firm and/or product is registered or authorized to provide such services.

    AGF Investments Inc. is a wholly-owned subsidiary of AGF Management Limited and conducts the management and advisory of mutual funds in Canada.

    Disclaimer

    This information is not intended to provide legal, accounting, tax, investment, financial, or other advice, and should not be relied upon for providing such advice. Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

    Media Contact

    Amanda Marchment
    Director, Corporate Communications
    416-865-4160
    amanda.marchment@agf.com

    The MIL Network –

  • MIL-OSI: CVR Energy Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    • First quarter net loss attributable to CVR Energy stockholders of $123 million; EBITDA loss of $61 million; adjusted EBITDA of $24 million
    • First quarter loss per diluted share of $1.22 and adjusted loss per diluted share of 58 cents
    • CVR Energy will not pay a cash dividend for the first quarter of 2025
    • CVR Partners announced a cash distribution of $2.26 per common unit

    SUGAR LAND, Texas, April 28, 2025 (GLOBE NEWSWIRE) — CVR Energy, Inc. (NYSE: CVI, “CVR Energy” or the “Company”) today announced first quarter 2025 net loss attributable to CVR Energy stockholders of $123 million, or $1.22 per diluted share, compared to first quarter 2024 net income attributable to CVR Energy stockholders of $82 million, or 81 cents per diluted share. Adjusted loss for the first quarter of 2025 was 58 cents per diluted share, compared to adjusted earnings per diluted share of 4 cents in the first quarter of 2024. Net loss for the first quarter of 2025 was $105 million, compared to net income of $90 million in the first quarter of 2024. First quarter 2025 EBITDA loss was $61 million, compared to first quarter 2024 EBITDA of $203 million. Adjusted EBITDA for the first quarter of 2025 was $24 million, compared to adjusted EBITDA of $99 million in the first quarter of 2024.

    “CVR Energy’s 2025 first quarter earnings results for its refining business were impacted by planned and unplanned downtime at the Coffeyville refinery,” said Dave Lamp, CVR Energy’s Chief Executive Officer. “With the turnaround at Coffeyville now completed, we are well-positioned for the upcoming driving season, and we currently have no planned turnarounds at either refinery until 2027.

    “CVR Partners achieved solid operating results for the first quarter of 2025, with a combined ammonia production rate of 101 percent,” Lamp said. “CVR Partners was pleased to declare a first quarter 2025 cash distribution of $2.26 per common unit.”

    Petroleum Segment

    The Petroleum Segment reported a first quarter 2025 net loss of $160 million and EBITDA loss of $119 million, compared to net income of $127 million and EBITDA of $171 million for the first quarter of 2024. Adjusted EBITDA loss for the Petroleum Segment was $30 million for the first quarter of 2025, compared to adjusted EBITDA of $67 million for the first quarter of 2024.

    Combined total throughput for the first quarter of 2025 was approximately 120,000 barrels per day (“bpd”) compared to approximately 196,000 bpd of combined total throughput for the first quarter of 2024. The decrease in throughput was primarily due to the turnaround at the Coffeyville, Kansas, refinery during the first quarter of 2025.

    Refining margin for the first quarter of 2025 was $(5) million, or (42) cents per total throughput barrel, compared to $290 million, or $16.29 per total throughput barrel, during the same period in 2024. Included in our first quarter 2025 refining margin were unfavorable mark-to-market impacts on our outstanding Renewable Fuel Standard (“RFS”) obligation of $112 million, favorable unrealized derivative impacts of $3 million primarily related to Canadian crude oil positions, and favorable inventory valuation impacts of $20 million. Excluding these items, adjusted refining margin for the first quarter of 2025 was $7.72 per barrel, compared to an adjusted refining margin per barrel of $10.46 for the first quarter of 2024. The decrease in adjusted refining margin per barrel was primarily due to a decrease in the Group 3 2-1-1 crack spread.

    Renewables Segment

    Effective beginning with the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and due to the prominence of the renewables business relative to the Company’s overall 2024 performance, we revised our reportable segments to reflect a new reportable segment: Renewables. The Renewables Segment includes the operations of the renewable diesel unit and renewable feedstock pretreater at the refinery in Wynnewood, Oklahoma.

    The Renewables Segment reported first quarter 2025 net income of less than $1 million and EBITDA of $6 million, compared to net loss of $10 million and EBITDA loss of $4 million for the first quarter of 2024. Adjusted EBITDA for the Renewables Segment was $3 million for the first quarter of 2025, compared to adjusted EBITDA loss of $5 million for the first quarter of 2024.

    Total vegetable oil throughput for the first quarter of 2025 was approximately 156,000 gallons per day (“gpd”), compared to approximately 76,000 gpd for the first quarter of 2024.

    Renewables margin was $16 million, or $1.13 per vegetable oil throughput gallon, for the first quarter of 2025 compared to $4 million, or 65 cents per vegetable oil throughput gallon, for the first quarter of 2024. Factors contributing to our first quarter 2025 renewables margin were higher net sales of $33 million resulting from increased production and sales volumes in the current period coupled with increased D4 RIN and LCFS credit prices, partially offset by a decrease in average CARB ULSD prices of 26 cents per gallon. Higher net sales were partially offset by higher cost of sales of $22 million due to an increase in throughput and production volumes.

    Nitrogen Fertilizer Segment

    The Nitrogen Fertilizer Segment reported net income of $27 million and EBITDA of $53 million on net sales of $143 million for the first quarter of 2025, compared to net income of $13 million and EBITDA of $40 million on net sales of $128 million for the first quarter of 2024.

    Production at CVR Partners, LP’s (“CVR Partners”) fertilizer facilities increased compared to the first quarter of 2024, producing a combined 216,000 tons of ammonia during the first quarter of 2025, of which 64,000 net tons were available for sale while the rest was upgraded to other fertilizer products, including 348,000 tons of urea ammonia nitrate (“UAN”). During the first quarter of 2024, the fertilizer facilities produced a combined 193,000 tons of ammonia, of which 60,000 net tons were available for sale while the remainder was upgraded to other fertilizer products, including 305,000 tons of UAN.

    For the first quarter 2025, average realized gate prices for ammonia showed an increase compared to the prior year, up 5 percent to $554 per ton, and UAN was down 4 percent over the prior year to $256 per ton. Average realized gate prices for ammonia and UAN were $528 and $267 per ton, respectively, for the first quarter of 2024.

    Corporate and Other

    The Company reported an income tax benefit of $49 million, or 31.8 percent of loss before income taxes, for the three months ended March 31, 2025, compared to an income tax expense of $17 million, or 15.9 percent of income before income taxes, for the three months ended March 31, 2024. The decrease in income tax expense was primarily due to a decrease in overall pretax earnings while the change in the effective tax rate was primarily due to changes in pretax earnings attributable to noncontrolling interest and the impact of federal and state tax credits and incentives in relation to overall pretax earnings.

    Cash, Debt and Dividend

    Consolidated cash and cash equivalents were $695 million at March 31, 2025, a decrease of $292 million from December 31, 2024. Consolidated total debt and finance lease obligations were $1.9 billion at March 31, 2025, including $570 million held by the Nitrogen Fertilizer Segment.

    CVR Energy will not pay a cash dividend for the first quarter of 2025.

    Today, CVR Partners announced that the Board of Directors of its general partner declared a first quarter 2025 cash distribution of $2.26 per common unit, which will be paid on May 19, 2025, to common unitholders of record as of May 12, 2025.

    First Quarter 2025 Earnings Conference Call

    CVR Energy previously announced that it will host its first quarter 2025 Earnings Conference Call on Tuesday, April 29, at 1 p.m. Eastern. The Earnings Conference Call may also include discussion of Company developments, forward-looking information and other material information about business and financial matters.

    The first quarter 2025 Earnings Conference Call will be webcast live and can be accessed on the Investor Relations section of CVR Energy’s website at www.CVREnergy.com. For investors or analysts who want to participate during the call, the dial-in number is (877) 407-8291. The webcast will be archived and available for 14 days at https://edge.media-server.com/mmc/p/uxpz7jf5. A repeat of the call also can be accessed for 14 days by dialing (877) 660-6853, conference ID 13752979.

    Forward-Looking Statements
    This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are “forward-looking statements,” as that term is defined under the federal securities laws. These forward-looking statements include, but are not limited to, statements regarding future: continued safe and reliable operations; drivers of our results; EBITDA and Adjusted EBITDA; impacts of planned and unplanned downtime; our position for the upcoming driving season; timing of turnarounds and impacts thereof on our results; asset utilization, capture, production volume, throughput, product yield and crude oil gathering rates, including the factors impacting same; cash flow generation; operating income and net sales, including the factors impacting same; refining margin; crack spreads, including the drivers thereof; impact of costs to comply with the RFS and revaluation of our RFS liability; inventory levels and valuation impacts; derivative gains and losses and the drivers thereof; renewable feedstocks; production rates and operations capabilities of our renewable diesel unit, including the ability to return to hydrocarbon service; demand trends; RIN generation levels; benefits of our corporate transformation to segregate our renewables business; access to capital and new partnerships; RIN pricing, including its impact on performance and the Company’s ability to offset the impact thereof; LCFS credit and CARB ULSD pricing; carbon capture and decarbonization initiatives; demand for refined products; ammonia and UAN pricing; global fertilizer industry conditions; grain prices; crop inventory levels; crop and planting levels; production levels and utilization at our nitrogen fertilizer facilities; nitrogen fertilizer sales volumes; ability to and levels to which we upgrade ammonia to other fertilizer products, including UAN; income tax expense and benefits, including the drivers thereof; pretax earnings and our effective tax rate; the availability and impact of tax credits and incentives; use of proceeds under our debt instruments; debt levels; cash and cash equivalent levels; dividends and distributions, including the timing, payment and amount (if any) thereof; direct operating expenses, capital expenditures, depreciation and amortization; turnaround expense; cash reserves; labor supply shortages, difficulties, disputes or strikes, including the impact thereof; and other matters. You can generally identify forward-looking statements by our use of forward-looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “explore,” “evaluate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “seek,” “should,” or “will,” or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. Investors are cautioned that various factors may affect these forward-looking statements, including (among others) the health and economic effects of any pandemic, demand for fossil fuels and price volatility of crude oil, other feedstocks and refined products; the ability of Company to pay cash dividends and of CVR Partners to make cash distributions; potential operating hazards; costs of compliance with existing or new laws and regulations and potential liabilities arising therefrom; impacts of the planting season on CVR Partners; our controlling shareholder’s intention regarding ownership of our common stock or CVR Partners’ common units; general economic and business conditions; political disturbances, geopolitical instability and tensions; existing and future laws, rulings, policies and regulations, including the reinterpretation or amplification thereof by regulators, and including but not limited to those relating to the environment, climate change, and/or the production, transportation, or storage of hazardous chemicals, materials, or substances, like ammonia; political uncertainty and impacts to the oil and gas industry and the United States economy generally as a result of actions taken by a new administration, including the imposition of tariffs or changes in climate or other energy laws, rules, regulations, or policies; impacts of plant outages; potential operating hazards from accidents, fires, severe weather, tornadoes, floods, wildfires, or other natural disasters; and other risks. For additional discussion of risk factors which may affect our results, please see the risk factors and other disclosures included in our most recent Annual Report on Form 10-K, any subsequently filed Quarterly Reports on Form 10-Q and our other Securities and Exchange Commission (“SEC”) filings. These and other risks may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this news release are made only as of the date hereof. CVR Energy disclaims any intention or obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.

    About CVR Energy, Inc.
    Headquartered in Sugar Land, Texas, CVR Energy is a diversified holding company primarily engaged in the renewable fuels and petroleum refining and marketing business, as well as in the nitrogen fertilizer manufacturing business through its interest in CVR Partners. CVR Energy subsidiaries serve as the general partner and own 37 percent of the common units of CVR Partners.

    Investors and others should note that CVR Energy may announce material information using SEC filings, press releases, public conference calls, webcasts and the Investor Relations page of its website. CVR Energy may use these channels to distribute material information about the Company and to communicate important information about the Company, corporate initiatives and other matters. Information that CVR Energy posts on its website could be deemed material; therefore, CVR Energy encourages investors, the media, its customers, business partners and others interested in the Company to review the information posted on its website.

    Contact Information:

    Investor Relations
    Richard Roberts
    (281) 207-3205
    InvestorRelations@CVREnergy.com

    Media Relations
    Brandee Stephens
    (281) 207-3516
    MediaRelations@CVREnergy.com

    Non-GAAP Measures

    Our management uses certain non-GAAP performance measures, and reconciliations to those measures, to evaluate current and past performance and prospects for the future to supplement our financial information presented in accordance with accounting principles generally accepted in the United States (“GAAP”). These non-GAAP financial measures are important factors in assessing our operating results and profitability and include the performance and liquidity measures defined below.

    As a result of continuing volatile market conditions and the impacts certain non-cash items may have on the evaluation of our operations and results, the Company began disclosing the Adjusted Refining Margin non-GAAP measure, as defined below, in the second quarter of 2024. We believe the presentation of this non-GAAP measure is meaningful to compare our operating results between periods and better aligns with our peer companies. All prior periods presented have been conformed to the definition below.

    The following are non-GAAP measures we present for the periods ended March 31, 2025 and 2024:

    EBITDA – Consolidated net income (loss) before (i) interest expense, net, (ii) income tax expense (benefit) and (iii) depreciation and amortization expense.

    Petroleum EBITDA, Renewables EBITDA, and Nitrogen Fertilizer EBITDA – Segment net income (loss) before segment (i) interest expense, net, (ii) income tax expense (benefit), and (iii) depreciation and amortization.

    Refining Margin – The difference between our Petroleum Segment net sales and cost of materials and other.

    Adjusted Refining Margin – Refining Margin adjusted for certain significant noncash items and items that management believes are not attributable to or indicative of our underlying operational results of the period or that may obscure results and trends we deem useful.

    Refining Margin and Adjusted Refining Margin, per Throughput Barrel – Refining Margin and Adjusted Refining Margin divided by the total throughput barrels during the period, which is calculated as total throughput barrels per day times the number of days in the period.

    Direct Operating Expenses per Throughput Barrel – Direct operating expenses for our Petroleum Segment divided by total throughput barrels for the period, which is calculated as total throughput barrels per day times the number of days in the period.

    Renewables Margin – The difference between our Renewables Segment net sales and cost of materials and other.

    Adjusted Renewables Margin – Renewables Margin adjusted for certain significant noncash items and items that management believes are not attributable to or indicative of our underlying operational results of the period or that may obscure results and trends we deem useful.

    Renewables Margin and Adjusted Renewables Margin, per Vegetable Oil Throughput Gallon – Renewables Margin and Adjusted Renewables Margin divided by the total vegetable oil throughput gallons for the period, which is calculated as total vegetable oil throughput gallons per day times the number of days in the period.

    Direct Operating Expenses per Vegetable Oil Throughput Gallon – Direct operating expenses for our Renewables Segment divided by total vegetable oil throughput gallons for the period, which is calculated as total vegetable oil throughput gallons per day times the number of days in the period.

    Adjusted EBITDA, Petroleum Adjusted EBITDA, Renewables Adjusted EBITDA, and Nitrogen Fertilizer Adjusted EBITDA – EBITDA, Petroleum EBITDA, Renewables EBITDA, and Nitrogen Fertilizer EBITDA adjusted for certain significant non-cash items and items that management believes are not attributable to or indicative of our underlying operational results of the period or that may obscure results and trends we deem useful.

    Adjusted Earnings (Loss) per Share – Earnings (loss) per share adjusted for certain significant non-cash items and items that management believes are not attributable to or indicative of our on-going operations or that may obscure our underlying results and trends.

    Free Cash Flow – Net cash provided by (used in) operating activities less capital expenditures and capitalized turnaround expenditures.

    We present these measures because we believe they may help investors, analysts, lenders and ratings agencies analyze our results of operations and liquidity in conjunction with our U.S. GAAP results, including but not limited to our operating performance as compared to other publicly traded companies in the refining and fertilizer industries, without regard to historical cost basis or financing methods and our ability to incur and service debt and fund capital expenditures. Non-GAAP measures have important limitations as analytical tools, because they exclude some, but not all, items that affect net earnings and operating income. These measures should not be considered substitutes for their most directly comparable U.S. GAAP financial measures. See “Non-GAAP Reconciliations” included herein for reconciliation of these amounts. Due to rounding, numbers presented within this section may not add or equal to numbers or totals presented elsewhere within this document.

    Factors Affecting Comparability of Our Financial Results

    Petroleum Segment

    Our results of operations for the periods presented may not be comparable with prior periods or to our results of operations in the future due to capitalized expenditures as part of planned turnarounds. Total capitalized expenditures were $166 million and $39 million during the three months ended March 31, 2025 and 2024, respectively.

    CVR Energy, Inc.
    (all information in this release is unaudited)

    Consolidated Statement of Operations Data

      Three Months Ended
    March 31,
    (in millions, except per share data)   2025       2024  
    Net sales $ 1,646     $ 1,863  
    Operating costs and expenses:      
    Cost of materials and other   1,517       1,463  
    Direct operating expenses (exclusive of depreciation and amortization)   154       164  
    Depreciation and amortization   66       75  
    Cost of sales   1,737       1,702  
    Selling, general and administrative expenses (exclusive of depreciation and amortization)   37       36  
    Depreciation and amortization   2       1  
    Loss on asset disposal   1       1  
    Operating (loss) income   (131 )     123  
    Other (expense) income:      
    Interest expense, net   (25 )     (20 )
    Other income, net   2       4  
    (Loss) income before income tax benefit   (154 )     107  
    Income tax (benefit) expense   (49 )     17  
    Net (loss) income   (105 )     90  
    Less: Net income attributable to noncontrolling interest   18       8  
    Net (loss) income attributable to CVR Energy stockholders $ (123 )   $ 82  
           
    Basic and diluted (loss) earnings per share $ (1.22 )   $ 0.81  
    Dividends declared per share $ —     $ 0.50  
           
    Adjusted (loss) earnings per share * $ (0.58 )   $ 0.04  
    EBITDA * $ (61 )   $ 203  
    Adjusted EBITDA * $ 24     $ 99  
           
    Weighted-average common shares outstanding – basic and diluted   100.5       100.5  

    _______________
    * See “Non-GAAP Reconciliations” section below.

    Selected Consolidated Balance Sheet Data

    (in millions) March 31, 2025   December 31, 2024
    Cash and cash equivalents $ 695     $ 987  
    Working capital (inclusive of cash and cash equivalents)   395       726  
    Total assets   4,251       4,263  
    Total debt and finance lease obligations, including current portion   1,918       1,919  
    Total liabilities   3,480       3,375  
    Total CVR stockholders’ equity   580       703  
                   

    Selected Consolidated Cash Flow Data

      Three Months Ended
    March 31,
    (in millions)   2025       2024  
    Net cash used in:      
    Operating activities $ (195 )   $ 177  
    Investing activities   (82 )     (55 )
    Financing activities   (15 )     (664 )
    Net decrease in cash, cash equivalents, and restricted cash $ (292 )   $ (542 )
           
    Free cash flow * $ (285 )   $ 121  

    _______________
    * See “Non-GAAP Reconciliations” section below.

    Selected Segment Data

      Three Months Ended March 31,
        2025       2024
    (in millions) Petroleum   Renewables   Nitrogen Fertilizer   Consolidated   Petroleum   Renewables   Nitrogen Fertilizer   Consolidated
    Net sales $ 1,477     $ 66   $ 143   $ 1,646     $ 1,722   $ 33     $ 128   $ 1,863
    Operating (loss) income   (161 )     —     35     (131 )     118     (10 )     20     123
    Net (loss) income   (160 )     —     27     (105 )     127     (10 )     13     90
    EBITDA *   (119 )     6     53     (61 )     171     (4 )     40     203
                                   
    Capital expenditures (1)                              
    Maintenance $ 41     $ —   $ 4   $ 45     $ 22   $ 1     $ 5   $ 30
    Growth   8       —     2     10       14     7       —     21
    Total capital expenditures $ 49     $ —   $ 6   $ 55     $ 36   $ 8     $ 5   $ 51

    _______________
    * See “Non-GAAP Reconciliations” section below.
    (1) Capital expenditures are shown exclusive of capitalized turnaround expenditures.

    Selected Balance Sheet Data

      March 31, 2025   December 31, 2024
    (in millions) Petroleum   Renewables   Nitrogen Fertilizer   Consolidated   Petroleum   Renewables   Nitrogen Fertilizer   Consolidated
    Cash and cash equivalents (1) $ 434   $ 20   $ 122   $ 695   $ 735   $ 13   $ 91   $ 987
    Total assets   3,297     422     1,014     4,251     3,288     420     1,019     4,263
    Total debt and finance lease obligations, including current portion (2)   352     —     570     1,918     354     —     569     1,919

    _______________
    (1) Corporate cash and cash equivalents consisted of $119 million and $148 million at March 31, 2025 and December 31, 2024, respectively.
    (2) Corporate total debt and finance lease obligations, including current portion consisted of $996 million and $996 million at March 31, 2025 and December 31, 2024, respectively.

    Petroleum Segment

    Key Operating Metrics per Total Throughput Barrel

      Three Months Ended
    March 31,
    (in millions)   2025       2024  
    Refining margin * $ (0.42 )   $ 16.29  
    Adjusted refining margin *   7.72       10.46  
    Direct operating expenses *   8.58       5.78  

    _______________
    * See “Non-GAAP Reconciliations” section below.

    Refining Throughput and Production Data by Refinery

    Throughput Data Three Months Ended
    March 31,
    (in bpd)   2025       2024  
    Coffeyville              
    Gathered crude   26,728       62,405  
    Other domestic   12,348       45,925  
    Canadian   640       9,532  
    Condensate   —       7,700  
    Other feedstocks and blendstocks   6,330       12,569  
    Wynnewood              
    Gathered crude   58,420       43,059  
    Other domestic   573       —  
    Condensate   10,152       10,262  
    Other feedstocks and blendstocks   5,186       4,340  
    Total throughput   120,377       195,792  
                   
    Production Data Three Months Ended
    March 31,
    (in bpd)   2025       2024  
    Coffeyville      
    Gasoline   18,940       72,723  
    Distillate   20,233       56,007  
    Other liquid products   6,324       4,554  
    Solids   1,321       4,980  
    Wynnewood      
    Gasoline   39,740       31,984  
    Distillate   24,948       19,166  
    Other liquid products   5,058       5,563  
    Solids   11       6  
    Total production   116,575       194,983  
           
    Crude utilization (1)   52.7 %     86.6 %
    Light product yield (as % of crude throughput) (2)   95.4 %     100.6 %
    Liquid volume yield (as % of total throughput) (3)   95.7 %     97.0 %
    Distillate yield (as % of crude throughput) (4)   41.5 %     42.0 %

    _______________
    (1) Total Gathered crude, Other domestic, Canadian, and Condensate throughput (collectively, “Total Crude Throughput”) divided by consolidated crude oil throughput capacity of 206,500 bpd.
    (2) Total Gasoline and Distillate divided by Total Crude Throughput.
    (3) Total Gasoline, Distillate, and Other liquid products divided by total throughput.
    (4) Total Distillate divided by Total Crude Throughput.

    Key Market Indicators

      Three Months Ended
    March 31,
        2025       2024  
    West Texas Intermediate (WTI) NYMEX $ 71.42     $ 76.91  
    Crude Oil Differentials to WTI:      
    Brent   3.56       4.85  
    WCS (heavy sour)   (12.45 )     (16.91 )
    Condensate   (0.64 )     (0.83 )
    Midland Cushing   1.10       1.59  
    NYMEX Crack Spreads:      
    Gasoline   16.83       22.55  
    Heating Oil   28.46       36.87  
    NYMEX 2-1-1 Crack Spread   22.64       29.71  
    PADD II Group 3 Product Basis:      
    Gasoline   (2.81 )     (9.97 )
    Ultra-Low Sulfur Diesel   (7.19 )     (10.35 )
    PADD II Group 3 Product Crack Spread:      
    Gasoline   14.02       12.58  
    Ultra-Low Sulfur Diesel   21.27       26.51  
    PADD II Group 3 2-1-1   17.65       19.55  
                   

    Renewables Segment

    Key Operating Metrics per Vegetable Oil Throughput Gallon

      Three Months Ended
    March 31,
        2025       2024  
    Renewables margin * $ 1.13     $ 0.65  
    Adjusted renewables margin *   0.94       0.47  
    Direct operating expenses *   0.48       0.84  

    _______________
    * See “Non-GAAP Reconciliations” section below.

    Renewables Throughput and Production Data

      Three Months Ended March 31,
    (in gallons per day)   2025       2024  
    Throughput Data      
    Corn Oil   19,503       31,295  
    Soybean Oil   136,440       44,362  
           
    Production Data      
    Renewable diesel   144,189       62,594  
           
    Renewable utilization (1)   61.9 %     30.0 %
    Renewable diesel yield (as % of corn and soybean oil throughput)   92.5 %     82.7 %

    _______________
    (1) Total corn and soybean oil throughput divided by total renewable throughput capacity of 252,000 gallons per day.

    Key Market Indicators

      Three Months Ended
    March 31,
        2025       2024  
    Chicago Board of Trade (CBOT) soybean oil (dollars per pound) $ 0.44     $ 0.47  
    Midwest crude corn oil (dollars per pound)   0.47       0.55  
    CARB ULSD (dollars per gallon)   2.41       2.66  
    NYMEX ULSD (dollars per gallon)   2.38       2.71  
    California LCFS (dollars per metric ton)   66.12       63.53  
    Biodiesel RINs (dollars per RIN)   0.79       0.58  
                   

    Nitrogen Fertilizer Segment

      Three Months Ended
    March 31,
    (percent of capacity utilization)   2025       2024  
    Ammonia utilization rate (1)   101 %     90 %

    _______________
    (1) Reflects our ammonia utilization rate on a consolidated basis. Utilization is an important measure used by management to assess operational output at each of CVR Partners’ facilities. Utilization is calculated as actual tons produced divided by capacity. We present our utilization for the three months ended March 31, 2025 and 2024 and take into account the impact of our current turnaround cycles on any specific period. Additionally, we present utilization solely on ammonia production rather than each nitrogen product as it provides a comparative baseline against industry peers and eliminates the disparity of plant configurations for upgrade of ammonia into other nitrogen products. With our efforts being primarily focused on ammonia upgrade capabilities, this measure provides a meaningful view of how well we operate.

    Sales and Production Data

      Three Months Ended
    March 31,
        2025       2024  
    Consolidated sales volumes (thousands of tons):      
    Ammonia   60       70  
    UAN   336       284  
           
    Consolidated product pricing at gate (dollars per ton): (1)      
    Ammonia $ 554     $ 528  
    UAN   256       267  
           
    Consolidated production volume (thousands of tons):      
    Ammonia (gross produced) (2)   216       193  
    Ammonia (net available for sale) (2)   64       60  
    UAN   348       305  
           
    Feedstock:      
    Petroleum coke used in production (thousands of tons)   131       128  
    Petroleum coke used in production (dollars per ton) $ 42.43     $ 75.71  
    Natural gas used in production (thousands of MMBtus) (3)   2,159       2,148  
    Natural gas used in production (dollars per MMBtu) (3) $ 4.62     $ 3.10  
    Natural gas in cost of materials and other (thousands of MMBtus) (3)   1,605       1,765  
    Natural gas in cost of materials and other (dollars per MMBtu) (3) $ 4.63     $ 3.49  

    _______________
    (1) Product pricing at gate represents sales less freight revenue divided by product sales volume in tons and is shown in order to provide a pricing measure that is comparable across the fertilizer industry.
    (2) Gross tons produced for ammonia represent total ammonia produced, including ammonia produced that was upgraded into other fertilizer products. Net tons available for sale represent ammonia available for sale that was not upgraded into other fertilizer products.
    (3) The feedstock natural gas shown above does not include natural gas used for fuel. The cost of fuel natural gas is included in direct operating expense.

    Key Market Indicators

      Three Months Ended
    March 31,
        2025       2024  
    Ammonia — Southern plains (dollars per ton) $ 562     $ 567  
    Ammonia — Corn belt (dollars per ton)   618       598  
    UAN — Corn belt (dollars per ton)   324       292  
           
    Natural gas NYMEX (dollars per MMBtu) $ 3.87     $ 2.10  
                   

    Q2 2025 Outlook

    The table below summarizes our outlook for certain operational statistics and financial information for the second quarter of 2025. See “Forward-Looking Statements” above.

      Q2 2025
      Low   High
    Petroleum      
    Total throughput (bpd)   160,000       180,000  
    Crude utilization (1)   82 %     90 %
    Direct operating expenses (in millions) (2) $ 105     $ 115  
    Turnaround (in millions) (3)   15       20  
           
    Renewables      
    Total throughput (in millions of gallons)   16       20  
    Renewable utilization (4)   70 %     87 %
    Direct operating expenses (in millions) (2) $ 8     $ 10  
           
    Nitrogen Fertilizer      
    Ammonia utilization rate   93 %     97 %
    Direct operating expenses (in millions) (2) $ 57     $ 62  
           
    Capital Expenditures (in millions) (3)      
    Petroleum $ 35     $ 40  
    Renewables   2       4  
    Nitrogen Fertilizer   18       22  
    Other   1       3  
    Total capital expenditures $ 56     $ 69  

    _______________
    (1) Represents crude oil throughput divided by consolidated crude oil throughput capacity of 206,500 bpd.
    (2) Direct operating expenses are shown exclusive of depreciation and amortization, turnaround expenses, and inventory valuation impacts.
    (3) Turnaround and capital expenditures are disclosed on an accrual basis.
    (4) Represents renewable feedstock throughput divided by total renewable throughput capacity of 252,000 gallons per day.

    Non-GAAP Reconciliations

    Reconciliation of Net (Loss) Income to EBITDA and Adjusted EBITDA

      Three Months Ended
    March 31,
    (in millions)   2025       2024  
    Net (loss) income $ (105 )   $ 90  
    Interest expense, net   25       20  
    Income tax (benefit) expense   (49 )     17  
    Depreciation and amortization   68       76  
    EBITDA   (61 )     203  
    Adjustments:      
    Revaluation of RFS liability, unfavorable (favorable)   112       (91 )
    Unrealized (gain) loss on derivatives, net   (3 )     24  
    Inventory valuation impacts, favorable   (24 )     (37 )
    Adjusted EBITDA $ 24     $ 99  
                   

    Reconciliation of Basic and Diluted (Loss) Earnings per Share to Adjusted (Loss) Earnings per Share

      Three Months Ended
    March 31,
        2025       2024  
    Basic and diluted (loss) earnings per share $ (1.22 )   $ 0.81  
    Adjustments: (1)      
    Revaluation of RFS liability, unfavorable (favorable)   0.84       (0.67 )
    Unrealized (gain) loss on derivatives, net   (0.03 )     0.18  
    Inventory valuation impacts, favorable   (0.17 )     (0.28 )
    Adjusted (loss) earnings per share $ (0.58 )   $ 0.04  

    _______________
    (1) Amounts are shown after-tax, using the Company’s marginal tax rate, and are presented on a per share basis using the weighted average shares outstanding for each period.

    Reconciliation of Net Cash (Used In) Provided By Operating Activities to Free Cash Flow

      Three Months Ended
    March 31,
    (in millions)   2025       2024  
    Net cash (used in) provided by operating activities $ (195 )   $ 177  
    Less:      
    Capital expenditures   (51 )     (47 )
    Capitalized turnaround expenditures   (43 )     (12 )
    Return of equity method investment   4       3  
    Free cash flow $ (285 )   $ 121  
                   

    Reconciliation of Petroleum Segment Net (Loss) Income to EBITDA and Adjusted EBITDA

      Three Months Ended
    March 31,
    (in millions)   2025       2024  
    Petroleum net (loss) income $ (160 )   $ 127  
    Interest (income) expense, net   —       (4 )
    Depreciation and amortization   41       48  
    Petroleum EBITDA   (119 )     171  
    Adjustments:      
    Revaluation of RFS liability, unfavorable (favorable)   112       (91 )
    Unrealized (gain) loss on derivatives, net   (3 )     24  
    Inventory valuation impacts, favorable (1)   (20 )     (37 )
    Petroleum Adjusted EBITDA $ (30 )   $ 67  
                   

    Reconciliation of Petroleum Segment Gross (Loss) Profit to Refining Margin and Adjusted Refining Margin

      Three Months Ended
    March 31,
    (in millions)   2025       2024  
    Net sales $ 1,477     $ 1,722  
    Less:      
    Cost of materials and other   (1,482 )     (1,432 )
    Direct operating expenses (exclusive of depreciation and amortization)   (93 )     (103 )
    Depreciation and amortization   (41 )     (48 )
    Gross (loss) profit   (139 )     139  
    Add:      
    Direct operating expenses (exclusive of depreciation and amortization)   93       103  
    Depreciation and amortization   41       48  
    Refining margin   (5 )     290  
    Adjustments:      
    Revaluation of RFS liability, unfavorable (favorable)   112       (91 )
    Unrealized (gain) loss on derivatives, net   (3 )     24  
    Inventory valuation impacts, favorable (1)   (20 )     (37 )
    Adjusted refining margin $ 84     $ 186  
           
    Total throughput barrels per day   120,377       195,792  
    Days in the period   90       91  
    Total throughput barrels   10,833,969       17,817,099  
           
    Refining margin per total throughput barrel $ (0.42 )   $ 16.29  
    Adjusted refining margin per total throughput barrel   7.72       10.46  
    Direct operating expenses per total throughput barrel   8.58       5.78  

    _______________
    (1) The Petroleum Segment’s basis for determining inventory value under GAAP is First-In, First-Out (“FIFO”). Changes in crude oil prices can cause fluctuations in the inventory valuation of crude oil, work in process and finished goods, thereby resulting in a favorable inventory valuation impact when crude oil prices increase and an unfavorable inventory valuation impact when crude oil prices decrease. The inventory valuation impact is calculated based upon inventory values at the beginning of the accounting period and at the end of the accounting period.

    Reconciliation of Renewables Segment Net Income (Loss) to EBITDA and Adjusted EBITDA

      Three Months Ended March 31,
    (in millions)   2025       2024  
    Renewables net income (loss) $ —     $ (10 )
    Depreciation and amortization   6       6  
    Renewables EBITDA   6       (4 )
    Adjustments:      
    Inventory valuation impacts, favorable (1)   (3 )     (1 )
    Renewables Adjusted EBITDA $ 3     $ (5 )
                   

    Reconciliation of Renewables Segment Gross Profit (Loss) to Renewables Margin and Adjusted Renewables Margin

      Three Months Ended March 31,
    (in millions, except throughput data)   2025       2024  
    Net sales $ 66     $ 33  
    Less:      
    Cost of materials and other   50       29  
    Direct operating expenses (exclusive of depreciation and amortization)   6       5  
    Depreciation and amortization   6       6  
    Gross profit (loss)   4       (7 )
    Add:      
    Direct operating expenses (exclusive of depreciation and amortization)   6       5  
    Depreciation and amortization   6       6  
    Renewables margin   16       4  
    Inventory valuation impacts, favorable (1)   (3 )     (1 )
    Adjusted renewables margin $ 13     $ 3  
           
    Total vegetable oil throughput gallons per day   155,943       75,657  
    Days in the period   90       91  
    Total vegetable oil throughput gallons   14,034,826       6,884,761  
           
    Renewables margin per vegetable oil throughput gallon $ 1.13     $ 0.65  
    Adjusted renewables margin per vegetable oil throughput gallon   0.94       0.47  
    Direct operating expenses per vegetable oil throughput gallon   0.48       0.84  

    _______________
    (1) The Renewables Segment’s basis for determining inventory value under GAAP is FIFO. Changes in renewable diesel and renewable feedstock prices can cause fluctuations in the inventory valuation of renewable diesel, work in process and finished goods, thereby resulting in a favorable inventory valuation impact when renewable diesel prices increase and an unfavorable inventory valuation impact when renewable diesel prices decrease. The inventory valuation impact is calculated based upon inventory values at the beginning of the accounting period and at the end of the accounting period.

    Reconciliation of Nitrogen Fertilizer Segment Net Income to EBITDA and Adjusted EBITDA

      Three Months Ended
    March 31,
    (in millions)   2025       2024  
    Nitrogen Fertilizer net income $ 27     $ 13  
    Interest expense, net   8       8  
    Depreciation and amortization   18       19  
    Nitrogen Fertilizer EBITDA and Adjusted EBITDA $ 53     $ 40  
                   

    The MIL Network –

  • MIL-OSI United Kingdom: Youth Mobility Scheme for Uruguayan and British citizens: 2025

    Source: United Kingdom – Executive Government & Departments

    World news story

    Youth Mobility Scheme for Uruguayan and British citizens: 2025

    The Youth Mobility Scheme allows 500 visas, both for Uruguayan and British nationals, to live, study, work and travel in the UK and Uruguay respectively.

    In 2025, 500 British and 500 Uruguayan nationals aged 18 to 30 years old will be able to experience life and culture in each other’s country for up to 2 years, as established in the agreement that came into effect in both countries on 31 January 2024.

    Uruguayan citizens who would like to travel to the UK under this scheme need to apply for a Youth Mobility Scheme (YMS) visa. British citizens who would like to travel to Uruguay should apply for a Working Holiday temporary residency.

    The scheme desires to foster close relations between British and Uruguayan nationals, intending to promote and facilitate access to opportunities that enable youth to gain a better understanding of the other participant’s culture, society, and languages through travel, work, and life experience abroad.

    This is the first YMS between the UK and a South American Country. The agreement was signed in August 2023 at the Uruguayan Ministry of Foreign Affairs, during the visit of FCDO Minister for the Americas and Caribbean David Rutley MP to Uruguay.

    UK has YMS agreements in place with Andorra, Australia, Canada, Republic of Korea, Hong Kong, Iceland, Japan, Monaco, New Zealand, San Marino, Taiwan and Uruguay.

    Uruguay has Working Holiday programmes with Australia, France, Germany, Japan, Netherlands, New Zealand, Sweden, and United Kingdom.

    Find below information about the scheme and how to apply, for British and Uruguayan nationals.

    Information for British nationals

    British citizens interested in applying for a Working Holiday temporary residency must attend the Uruguayan Consulate in London and submit the following documents:

    • valid passport in good condition, with an expiry date at least one year in the future
    • a medical certificate from the country of residence where it states that you do not have medical conditions that would make it impossible for you to reside in Uruguay
    • evidence of a Police Certificate from the country of origin and from any country that you have lived in for the past 5 years. This should be apostilled or legalised, whichever is appropriate. In the UK you can apply for this at: http://www.gov.uk/copy-of-police-records. The six must have been issued within the 6 months prior to the filing of the application
    • documents that demonstrate that they have sufficient financial resources to meet their needs (such as salary payslips, bank statements, pensions, etc.) issued within 30 days of the application date
    • declaration of the intended time they will remain in Uruguay, which will be up to 2 years
    • apostille or legalised birth certificate (whichever is the case, if the person was born outside the UK) and translated (by a certified Uruguayan translator, by Consul or by consular intervention, depending on the case) will be required in Uruguay in order to obtain the Uruguayan National Identity card

    Once the documentation is submitted, the Consulate will inform the Ministry of Foreign Affairs’ International Migration Direction, which will notify the National Migration Office. A decision will be made within a maximum of 15 working days.

    If the application is successful, the Consulate will let you will know. You will then need to enter Uruguay within 180 days from the notification day. If you need a visa, the Consulate will issue a tourist visa without consulting with the National Migration Office, referring to the temporary residency granted.

    Once you are in Uruguay, you will need to go in person to the National Migration Office and the National Civil Identification Office to apply for the National Identity card and pay the required fees. If youneed more information, please contact the Uruguayan Consulate or Uruguayan Embassy: cdlondres@mrree.gub.uy or urureinounido@mree.gub.uy, or call: +44 (0)207 584 4200

    Information for Uruguayan nationals:

    • applications to the Youth Mobility Scheme are online. You can apply from any country in the world, except from the UK
    • you can apply if you are a Uruguayan National aged 18-30 years old and hold a Uruguayan passport
    • you can spend up to 2 years in the UK, with multiple entries
    • you can work but it is not compulsory. You can travel, study short courses or volunteer
    • you do not need any language, job or skill requirements
    • you must apply for a visa and pay the Immigration Health Surcharge
    • you need to demonstrate you have the equivalent to £2,530 in a bank account for at least the past 28 days before applying
    • you need to get a Criminal Record Certificate. Please request it for Consulate- Ministry of Foreign Affairs, not the British Embassy
    • you cannot apply if you have any dependants living with you or who are financially dependent on you at the time of application
    • you must not have not previously taken part in the scheme

    Applicants will usually get a decision on their visa within 3 weeks.

    For more information, please go to Youth Mobility Scheme visa: Overview – GOV.UK or contact: public.enquiries@homeoffice.gov.uk.

    Updates to this page

    Published 28 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Sorensen Announces Nearly $1 Million for Monmouth College to Grow STEM Workforce Pipeline

    Source: United States House of Representatives – Congressman Eric Sorensen (IL-17)

    WASHINGTON, DC – Congressman Eric Sorensen (IL-17) applauded the recent announcement of a $999,764 federal grant awarded to Monmouth College to fund scholarships for low-income students interested in pursuing a science, technology, engineering, or mathematics (STEM) degree. The funding will help prepare students for careers in high-paying STEM jobs. 

     “The best way to grow our economy and create good-paying jobs is to ensure we prepare our next generation with the tools necessary to succeed in a competitive world,” said Congressman Sorensen. “This funding will ensure that everyone – no matter their financial situation – has a chance to pursue a high-paying career in a STEM field.” 

     Congressman Sorensen has championed efforts to help colleges and universities across Illinois’ 17th district secure federal funding to boost their STEM programs, allowing many more Illinois students to graduate with a degree in a STEM field that prepares them for a high-paying job. In 2023, he announced $4.5 million in federal grant funding to support efforts to create STEAM talent development strategies. Last year, he supported a $15 million project to help Illinois State University build a new STEM/Science Lab building. 

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Pettersen Leads CO Democratic Delegation in Calling on President Trump to Fund Head Start Amid Child Care Crisis

    Source: United States House of Representatives – Representative Brittany Pettersen (Colorado 7th District)

    WASHINGTON — Today, U.S. Representative Brittany Pettersen (CO-07) led the Colorado Democratic Congressional Delegation in a letter urging President Trump to fully fund Head Start in the upcoming budget. The letter follows alarming reports that the Trump administration is considering a proposal to eliminate funding for the program.

    In Colorado alone, more than 11,600 children rely on Head Start services every year, and the program supports over 5,000 jobs. Head Start provides child care, early education, nutrition, and health services to children in low-income households, while also offering parents opportunities for employment and education.

    “As a mom, I know firsthand how difficult it is to find safe, affordable childcare, and for far too many families, it is nearly impossible,” said Pettersen. “Head Start is an essential support for our kids and families to help bring financial independence and give our kids the best shot at success. Gutting funding for this program will have a cascading impact on our local economy, workforce, and our kids’ future and disproportionately impact our rural communities.”

    In a letter, the Members shared, “Colorado families face a child care crisis: child care is neither affordable nor accessible, and most families face a lengthy enrollment waitlist. The elimination of Head Start funding would further imperil an already fragile state of affairs – particularly for rural communities, where local child care facilities are often oversubscribed or nonexistent. Head Start facilities often serve as the only affordable option.”

    The Members continued, “Since the 1990s, the cost of child care has more than tripled, outpacing wages, the cost of groceries, and even housing. Reducing critical funding for Head Start would reverse decades of bipartisan investment in children amidst a cost-of-living crisis, compounding potential harm for working families.”

    “This isn’t about politics. It’s about kids,” said Heather Frenz, executive director of the Colorado Head Start Association. “Colorado’s families need Head Start now more than ever. Eliminating this program would be a devastating blow — and it’s simply unacceptable.”

    Signers of the letter include Senators Michael Bennet and John Hickenlooper and Representatives Diana DeGette (CO-01), Joe Neguse (CO-02), and Jason Crow (CO-06). 

    Full text of the letter can be found HERE. 

    MIL OSI USA News –

  • MIL-OSI USA: Congresswoman Tenney Unveils Legislation to Back Rochester PD and Support Law Enforcement Officers

    Source: United States House of Representatives – Congresswoman Claudia Tenney (NY-22)

    Washington, DC – Congresswoman Tenney (NY-24) today unveiled the Law Enforcement Solidarity Act, which conditions federal funds on state and localities, allowing local law enforcement to cooperate with federal law enforcement, including the Department of Homeland Security.

    In March, members of the Rochester police department responded to a call for emergency backup from federal law enforcement. Rochester police valiantly responded, yet they have faced backlash from liberal city officials due to Rochester’s sanctuary city policies. This bill will ensure that all law enforcement officers, at the federal, state, and local levels, can provide support to one another in emergency circumstances.

    “Law enforcement officers who respond to the emergency call from their fellow officers should be celebrated, not chastised. Yet, Rochester city officials are seeking to penalize the RPD officers who quickly responded to assist ICE during a traffic stop, simply because of Rochester’s unlawful sanctuary city policies. That’s why I’m introducing the Law Enforcement Solidarity Act to make federal funding conditional on allowing local law enforcement to cooperate with federal law enforcement. No law enforcement officer, local or federal, should be abandoned because of reckless policies driven by the Left’s political agenda,” said Congresswoman Tenney.

    “The Locust Club is grateful for Congresswoman Tenney’s support and encouragement. Our members will always answer the call when other agencies ask for our help. The Locust Club supports this legislation which protects our officers from being punished for responding when our assistance is requested,” said the Rochester Locust Club.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Kaine Statement on Congressman Connolly’s Announcement

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine

    WASHINGTON, D.C. – Today, U.S. Senator Tim Kaine (D-VA) released the following statement regarding U.S. Representative Gerald E. Connolly’s (D-VA-11) announcement:

    “For decades, my friend Gerry Connolly has shown Virginia and the country how to fight for what is right. No one has fought harder when it comes to Virginia’s federal workforce, transportation infrastructure, congressional oversight, and our commitment to critical alliances like NATO. I’m deeply moved by the way he has brought that same courage to his fight against cancer, and will do all I can to support him and his family. We talked this morning and, amidst the sadness, I expressed my profound admiration for his service and my deep love for him and Smitty.”

    MIL OSI USA News –

  • MIL-OSI Europe: Russia must provide its response on Ukraine ceasefire

    Source: France-Diplomatie – Ministry of Foreign Affairs and International Development

    Excerpts from statements to the press by M. Emmanuel Macron, President of the Republic, from Madagascar (Antananarivo, April 24, 2025)

    (Check against delivery)

    (…)

    A few moments ago, in your speech here, you denounced “the mad armies that want to seize little bits of land”. However, a few minutes ago President Zelenskyy said the pressure on Russia isn’t strong enough, at a time when the United States is obviously preparing to recognize Crimea as Russian. Is peace getting further away today?

    THE PRESIDENT – First of all, I don’t want to speak for anyone. As you know, France’s position is steadfast. It won’t change. We’re in favour of the sovereignty of peoples and territorial integrity, respecting international law. Moreover, there are no double standards for France. That applies to Ukraine, it applies to the Middle East and it applies to the African continent. And I pride myself on that position.

    So we’ll continue to uphold the Ukrainian people’s right to live in peace on their territory and within their internationally-recognized borders. That’s why we’ve always condemned the Russian war of aggression.

    We’re at a moment when I hope peace can be built, and I want to pay tribute to the efforts made by US diplomacy. But I also want to remind you of the facts. There’s an aggressor, Russia, and an aggressee, Ukraine. A few weeks ago, under American impetus, President Zelenskyy made an incredible gesture. He said: “I agree to an unconditional ceasefire”.

    The only thing we have to ensure, the only thing – I repeated this to President Trump, to whom I spoke two days ago during the night – is for President Putin to finally stop lying. When President Putin talks to the US negotiators, he tells them: “I want peace.” When he talks to the whole planet, he says: “I personally want peace.” He continues to bomb Ukraine. He continues to kill people in Ukraine. There’s only one reply we’re waiting for. Does President Putin agree to an unconditional ceasefire? The Americans have proposed it, the Europeans support it, and President Zelenskyy has said yes. If President Putin says yes, the weapons fall silent tomorrow and lives are saved. The international community has just one thing to do, and America’s irritation should focus on only one person: President Putin. He must answer the question he’s asking him. Then we’ll be able to build a just, solid, lasting, robust peace – in other words, a peace that makes it possible to find territorial concessions and solid security guarantees.

    But as I speak, it’s not as if nothing had happened in the past few weeks. The Americans have proposed something, the Ukrainians have said yes, and we support it. Now Russia must provide its response. If Russia says, I’m not ready for a ceasefire, it will have lied to the US President, it will have lied to all those it told it wanted peace, and we’ll have to act accordingly. If it says yes, we’ll have a ceasefire tomorrow. (…)

    Are you going to speak to President Trump?

    THE PRESIDENT – I spoke to him 24 hours ago, the night before yesterday.

    Do you think he can modify his position? Or is he sticking with positions that are difficult to reconcile with those of the Europeans?

    THE PRESIDENT – He wants to find agreements, and I completely respect him. He wants a comprehensive peace agreement – he’s the negotiator too. But let me put things back in the right order. There can be no peace agreement if there isn’t already an agreement on what he’s got from President Zelenskyy, which was a huge step forward by President Zelenskyy.

    I say this very emphatically here: the first step, the one that – if I can put it like this – marks the beginning of everything, is the unconditional ceasefire that the Russians must accept.

    So, no freezing of the ceasefire line, of the current front line?

    THE PRESIDENT – But all the other issues are issues that come under a peace negotiation, which must subsequently be carried out, and they’ll take into account the military positions, the territorial issues and the security issues. But you can’t ask for this or that to be accepted while Russia continues bombing Kyiv. Put yourself in President Zelenskyy’s shoes: do you think he can make gestures of openness when his capital is currently being bombed? Let’s be reasonable. (…)

    When Donald Trump says that Ukraine lost Crimea years ago, is he wrong? Is he playing into Russia’s hands?

    THE PRESIDENT – No, he’s describing a factual situation. But is it our job to describe a factual situation? Since 2014, an army has conquered a territory, totally illegally, through violence and by killing people. That’s describing a factual situation, what he’s saying. Does that mean we should approve of it? No, in any case, not now. And it isn’t for us to do so, as I’ve always said, it’s up to Ukraine and its representatives to say that. So our collective job – which is what President Trump has committed to do – is to say “ceasefire”. (…)./.

    MIL OSI Europe News –

  • MIL-OSI USA: Honoring Fallen New York State Workers

    Source: US State of New York

    overnor Kathy Hochul today announced the New York State Department of Labor marked Workers’ Memorial Day by holding a ceremony to pay tribute to public service employees who passed away while serving New York State. The New York State Department of Health is launching a social media and awareness campaign in May to remind employers and employees about strategies to stay safe on the job. Additionally, the New York State Department of Transportation and Thruway Authority, joined by State and local partners, will host a Workers Memorial Day ceremony to honor fallen highway and transportation workers Tuesday at the New York State Fairgrounds.

    “Our shared commitment to public service is the foundation of who we are as New Yorkers, and today we pay tribute to the men and women who gave their lives for a better world,” Governor Hochul said. “From laborers to law enforcement, and from firefighters, health care workers to transportation employees, our public servants hold together the fabric of our society. We owe an extraordinary debt of gratitude for their sacrifice to New York State.”

    The New York State Department of Labor (NYSDOL) marked Workers’ Memorial Day by holding a ceremony to pay tribute to public service employees who passed away while serving New York State. The families of the deceased met privately with NYSDOL Commissioner Roberta Reardon prior to the ceremony and then joined her at the event. The names of the fallen workers can be viewed on this online memorial webpage. The memorial serves as a permanent reminder of the importance of NYSDOL’s mission to enforce safety and health protections to all public sector employees.

    New York State Department of Labor Commissioner Roberta Reardon said, “We honor our colleagues who lost their lives while serving the people of New York by vowing to remain vigilant in our work to keep workers safe. The Department of Labor will continue to ensure proper safety precautions and practices are in place to protect our public workers while on the job at worksites across New York State.”

    NYSDOL enforces standards to protect public sector employers, which includes State, county and local governments. It also covers public authorities, school districts and fire departments. Additionally, NYSDOL responds to deaths related to occupational safety and health, accidents that send two or more public employees to the hospital, and investigates complaints from public employees or their representatives. The bureau also inspects public employer work sites and provides technical assistance during statewide emergencies. For more information about services, including its free on-site consultations, visit this webpage. If a public worker or their representatives feel a safety of health violation is present at their workplace, they are encouraged to file a complaint.

    New York State Health Commissioner Dr. James McDonald said, “Even though fatality rates are improving, work-related illnesses, injuries and deaths still happen far too often. These preventable tragedies are devastating for the impacted families, friends, coworkers, and communities. By taking proactive safety prevention measures, employers can better ensure the overall health and safety of their workers.

    The New York State Department of Health is launching a social media and awareness campaign in May to remind employers and employees about strategies to stay safe on the job. This year’s campaign focuses on fall prevention and ladder safety. To help prevent injuries, employers are encouraged to take steps to prioritize safety as a core value and establish clear health and safety policies and training programs. Effective worker safety programs identify on-the-job hazards and establish proper controls and comply with New York State Occupational Safety and Health (OSHA) regulations.

    According to the most recent fatality data for New York State for 2023, the fatality rate for workers in New York State continues on the downward trend with 2.8 deaths per 100,000 full-time workers.

    There were a total of 246 fatal traumatic work injuries in New York State in 2023, many of which were preventable. A traumatic work injury is an injury sustained on the job due to an acute, identifiable event, such as a fall, machinery accident, assault or exposure.

    Research data indicates that there were also more than 7,000 deaths that occurred in 2023 from work-related diseases and illnesses, such as work-related cancers, circulatory diseases related to desk work. Additionally, more than 190,000 recordable nonfatal injuries occur each year in New York State workplaces which can potentially become precursors to future fatal incidents.

    The leading events contributing to deaths in all of New York State in 2023 were transportation incidents, which accounted for more than one-third of all work-related deaths. This includes motor vehicle collisions and incidents where pedestrian workers were struck by vehicles. Other major events included falls (especially from heights) and exposures to harmful substances or environments, such as unintentional drug overdoses, exposures to extreme heat or cold, electrocutions and exposures to chemicals.

    Out of the 246 deaths in New York State in 2023, 220 were male (89 percent) and 26 (11 percent) were female. Older workers aged 55 and over made up 40 percent of all fatal occupational injuries in 2023. The fatal injury rate for workers aged 65 and over is almost double that for all workers.

    Foreign-born workers make up almost 35 percent of all worker deaths in New York State. Hispanic and Latino workers represented 26 percent of all worker deaths in New York State in 2023. The fatal injury rate for this group is 1.4 times the rate for all workers.

    The New York State Department of Health collects this information to help researchers gain a better understanding of occupational fatalities and to provide employers and workers with the knowledge they need to stay safe on the job. Staff conduct in-depth investigations of worker deaths to determine what went wrong and to develop better injury prevention guidance and training programs that will assist in hazard identification and assessment procedures.

    Staff at the State Health Department collaborate with vulnerable workers, employers and worker advocates to develop guidelines and training programs to help reduce worker injury and fatalities. Learn more at health.ny.gov/worksafe.

    New York State Department of Transportation Commissioner Marie Therese Dominguez said, “Our dedicated highway and transportation workers perform their jobs in dangerous situations so that all New Yorkers can go about our daily travels safely and efficiently. Tragically, some of them never returned home. It is entirely appropriate that on Workers Memorial Day we honor their service and their sacrifice and recommit ourselves to doing everything we can to keep these public servants safe. Why? Because safety is everyone’s responsibility, and I urge all New Yorkers to please, put your phone down and pay attention when you are driving and slow down and move over in work zones. Lives are literally at stake.”

    New York State Thruway Authority Executive Director Frank G. Hoare said, “In its 70+ year history, the Thruway Authority has lost 22 dedicated employees while on the job, two in the last year. Our Maintenance employees embody the heart and soul of this organization. Roadside workers risk their lives every day to ensure the safety of all drivers on the road, and on this Workers’ Memorial Day, we remember the fallen and honor their commitment and sacrifice to the State of New York.”

    The New York State Department of Transportation and Thruway Authority, joined by State and local partners, will host a Workers Memorial Day ceremony to honor fallen highway and transportation workers Tuesday at the New York State Fairgrounds. A total of 58 members of the NYSDOT family and 22 Thruway employees have been killed while on the job over the course of the history of the two organizations. The memorial event will include the ceremonial unveiling of hat and vest displays for Vincent “Vinny” Giammarva and Stephen “Steve” Ebling, two New York State Thruway Authority employees who lost their lives in highway work zone incidents in 2024.

    The AFL-CIO first declared April 28 “Workers’ Memorial Day” in 1989 in remembrance of the working people killed and injured on the job every year. The Occupational Safety and Health Act of 1970, which established the OSHA, went into effect on April 28, 1971.

    New York State AFL-CIO President Mario Cilento said, “On Workers Memorial Day, we pause to remember and honor the workers who lost their lives on the job and reaffirm our unwavering promise to fight to improve workplace safety. Workers have a fundamental right to a safe job as promised when the Occupational Safety and Health Act was enacted. No worker should lose their life or become ill while performing their job, and no family should have to grieve the loss of a loved one due to preventable and avoidable hazardous working conditions. The New York State AFL-CIO is committed to fighting with every ounce of its existence to ensure that every worker is as safe as possible in every workplace throughout our state. That is the only way we can truly honor those we have lost.”

    Civil Service Employees Association President Mary E. Sullivan said, “Today, all of CSEA stands together to honor the public employees who made the ultimate sacrifice in service to our communities. Their dedication, courage, and commitment to the people of New York will never be forgotten. As we remember them, we renew our promise to fight for safer workplaces, respect for all workers, and the dignity they so deeply deserve. In their memory, we move forward, stronger and more determined than ever.”

    New York State Public Employees Federation President Wayne Spence said, “There is no such thing as a workplace accident – nearly all on-the-job fatalities could and should be prevented. On this Workers’ Memorial Day, we honor and remember those who died or suffered injury or illness while at work, and we continue the call to action to fight for safer jobs. PEF has always been on the front lines of protecting worker health and safety and we remain committed to making sure every worker goes home at the end of their shift.”

    MIL OSI USA News –

  • MIL-OSI Security: Huntington Man Sentenced to Prison for Federal Gun Crime

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    HUNTINGTON, W.Va. – Michael Vernon Pinson Jr., 30, of Huntington, was sentenced today to one year and six months in prison, to be followed by three years of supervised release, for being a felon in possession of a firearm.

    According to court documents and statements made in court, on February 20, 2024, law enforcement officers responding to reports of an unresponsive male in a vehicle in Huntington encountered Pinson in the vehicle’s driver’s seat. Officers searched the vehicle during the encounter and found a loaded Taurus model PT111 Millennium Pro 9mm pistol in the vehicle.

    Federal law prohibits a person with a prior felony conviction from possessing a firearm or ammunition. Pinson knew he was prohibited from possessing a firearm because of his prior felony conviction for unlawful wounding in Cabell County Circuit Court on February 16, 2016.

    Acting United States Attorney Lisa G. Johnston made the announcement and commended the investigative work of the Huntington Police Department and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF).

    United States District Judge Robert C. Chambers imposed the sentence. Assistant United States Attorney Stephanie Taylor prosecuted the case.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Southern District of West Virginia. Related court documents and information can be found on PACER by searching for Case No. 3:24-cr-149.

    ###

     

    MIL Security OSI –

  • MIL-OSI: NXP Semiconductors Reports First Quarter 2025 Results, Announces Management Transition

    Source: GlobeNewswire (MIL-OSI)

    EINDHOVEN, The Netherlands, April 28, 2025 (GLOBE NEWSWIRE) — NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results for the first quarter, which ended March 30, 2025. “NXP delivered quarterly revenue of $2.84 billion, in-line with the midpoint of guidance. NXP’s first-quarter results and guidance for the second quarter underpin a cautious optimism that NXP continues to effectively navigate through a challenging set of market conditions. We are operating in a very uncertain environment influenced by tariffs with volatile direct and indirect effects. Considering these external factors, we are redoubling our efforts to manage what is in our direct control, enabling NXP to drive solid profitability and earnings,” said Kurt Sievers, NXP President and Chief Executive Officer.

    The company announced that Mr. Sievers has informed the Board of Directors of his intention to retire from NXP at the end of 2025. “Kurt has been a dynamic, visionary, and highly effective CEO of NXP since May 2020,” said Julie Southern, NXP’s Chair of the Board of Directors. “He has been instrumental in leading the definition and implementation of NXP’s strategy to be the leader in intelligent systems at the edge within the Automotive and Industrial & IoT end markets. After a successful 30-year career with NXP, we are saddened to see Kurt retire. We and the entire NXP community thank him for his leadership and wish him the absolute best in his retirement.”

    Following a comprehensive and thorough succession planning process, NXP’s Board of Directors announced that it has unanimously approved Mr. Rafael Sotomayor to succeed Mr. Sievers as President, effective April 28, 2025. Messrs. Sievers and Sotomayor will work closely to orchestrate a smooth leadership transition until October 28, 2025, when Mr. Sotomayor will assume the role of President and Chief Executive Officer. “Rafael has been an integral part of creating and shaping NXP’s strategy and enabling the company’s success. We are confident he is ideally suited to assume the role of President and CEO at NXP, and to execute the company’s vision for leadership in the intelligent systems at the edge within the Automotive and Industrial & IoT end markets,” said Ms. Southern.

    Mr. Sievers’ departure is a purely personal decision and is not related to any disagreement with the Board of Directors, or any issues relating to the strategic or financial performance of the company.

    Key Highlights for the First Quarter 2025:

    • Revenue was $2.84 billion, down 9 percent year-on-year;
    • GAAP gross margin was 55.0 percent, GAAP operating margin was 25.5 percent and GAAP diluted Net Income per Share was $1.92;
    • Non-GAAP gross margin was 56.1 percent, non-GAAP operating margin was 31.9 percent, and non-GAAP diluted Net Income per Share was $2.64;
    • Cash flow from operations was $565 million, with net capex investments of $138 million, resulting in non-GAAP free cash flow of $427 million;
    • Capital return during the quarter was $561 million, representing 131 percent of first quarter non-GAAP free cash flow. Share buybacks were $303 million and dividends paid during the quarter were $258 million. After the end of the first quarter, between March 31, 2025, and April 25, 2025, NXP executed via a 10b5-1 program additional share repurchases totaling $90 million;
    • On January 7, 2025, NXP announced the MCX L14x and MCX L25x, the first families in the ultra-low-power L Series of the MCX microcontroller portfolio. The MCX L series features a dual-core architecture with an independent ultra-low-power sense domain to enable challenging battery-limited applications, such as sensors for industrial monitoring, building management, and flow metering;
    • On January 8, 2025, Honeywell and NXP announced an expansion of its partnership that will accelerate aviation product development and chart the path for autonomous flight. The Honeywell Anthem cockpit is powered by NXP’s i.MX 8 applications processors to help improve operational efficiency, safety and unlock value for pilots and operators. This builds on the companies’ existing relationship, which is focused on helping optimize how building management systems sense and securely control energy consumption;
    • On January 15, 2025, NXP announced it has secured a €1 billion loan from the European Investment Bank (EIB) to advance the company’s RDI investments across its broad portfolio of semiconductor solutions. The €1 billion loan facility carries a weighted average interest rate of 4.54 percent when drawn in dollar denominated tranches, under the current market conditions and has a duration of six years;
    • On February 10, 2025, NXP announced the agreement to acquire Kinara Inc., an industry leader in high performance, energy-efficient and programmable discrete neural processing units (NPUs) to enable intelligence at the edge solutions. The all-cash transaction was valued at $307 million and is expected to close in the first half of 2025, subject to customary closing conditions, including regulatory clearances;
    • On March 11, 2025, NXP announced the new S32K5 family of automotive microcontrollers (MCU), the automotive industry’s first 16nm FinFET MCU with embedded magnetic RAM (MRAM). The S32K5 MCU family will extend the NXP CoreRide platform with pre-integrated zonal and electrification system solutions for scalable software-defined vehicle (SDV) architectures.

    Summary of Reported First Quarter 2025 ($ millions, unaudited) (1)

      Q1 2025 Q4 2024 Q1 2024 Q – Q Y – Y
    Total Revenue $ 2,835   $ 3,111   $ 3,126   -9 % -9 %
    GAAP Gross Profit $ 1,560   $ 1,678   $ 1,783   -7 % -13 %
    Gross Profit Adjustments (i) $ (31 ) $ (111 ) $ (35 )    
    Non-GAAP Gross Profit $ 1,591   $ 1,789   $ 1,818   -11 % -12 %
    GAAP Gross Margin   55.0 %   53.9 %   57.0 %    
    Non-GAAP Gross Margin   56.1 %   57.5 %   58.2 %    
    GAAP Operating Income (Loss) $ 723   $ 675   $ 856   7 % -16 %
    Operating Income Adjustments (i) $ (181 ) $ (390 ) $ (224 )    
    Non-GAAP Operating Income $ 904   $ 1,065   $ 1,080   -15 % -16 %
    GAAP Operating Margin   25.5 %   21.7 %   27.4 %    
    Non-GAAP Operating Margin   31.9 %   34.2 %   34.5 %    
    GAAP Net Income (Loss) attributable to Stockholders $ 490   $ 495   $ 639   -1 % -23 %
    Net Income Adjustments (i) $ (183 ) $ (322 ) $ (201 )    
    Non-GAAP Net Income (Loss) Attributable to Stockholders $ 673   $ 817   $ 840   -18 % -20 %
    GAAP diluted Net Income (Loss) per Share (ii) $ 1.92   $ 1.93   $ 2.47   — % -22 %
    Non-GAAP diluted Net Income (Loss) per Share (ii) $ 2.64   $ 3.18   $ 3.24   -17 % -19 %
    Additional information          
      Q1 2025 Q4 2024 Q1 2024 Q – Q Y – Y
    Automotive $ 1,674 $ 1,790 $ 1,804 -6 % -7 %
    Industrial & IoT $ 508 $ 516 $ 574 -2 % -11 %
    Mobile $ 338 $ 396 $ 349 -15 % -3 %
    Comm. Infra. & Other $ 315 $ 409 $ 399 -23 % -21 %
    DIO   169   151   144    
    DPO   62   65   65    
    DSO   34   30   26    
    Cash Conversion Cycle   141   116   105    
    Channel Inventory (weeks)   9   8   7    
    Gross Financial Leverage (iii) 2.4x 2.1x 1.9x    
    Net Financial Leverage (iv) 1.6x 1.5x 1.3x    
               
    1. Additional Information for the First Quarter 2025:
      1. For an explanation of GAAP to non-GAAP adjustments, please see “Non-GAAP Financial Measures”.
      2. Refer to Table 1 below for the weighted average number of diluted shares for the presented periods.
      3. Gross financial leverage is defined as gross debt divided by trailing twelve months adjusted EBITDA.
      4. Net financial leverage is defined as net debt divided by trailing twelve months adjusted EBITDA.

        5. Guidance for the Second Quarter 2025: ($ millions, except Per Share data) (1)

           
          GAAP   Reconciliation   non-GAAP
          Low   Mid   High       Low   Mid   High
        Total Revenue $2,800   $2,900   $3,000       $2,800   $2,900   $3,000
        Q-Q -1%   2%   6%       -1%   2%   6%
        Y-Y -10%   -7%   -4%       -10%   -7%   -4%
        Gross Profit $1,533   $1,604   $1,675   $(29)   $1,562   $1,633   $1,704
        Gross Margin 54.8%   55.3%   55.8%       55.8%   56.3%   56.8%
        Operating Income (loss) $680   $741   $802   $(182)   $862   $923   $984
        Operating Margin 24.3%   25.6%   26.7%       30.8%   31.8%   32.8%
        Financial Income (expense) $(100)   $(100)   $(100)   $(12)   $(88)   $(88)   $(88)
        Tax rate 18.5%-19.5%       17.0%-18.0%
        Equity-accounted investees $(8)   $(8)   $(8)   $(6)   $(2)   $(2)   $(2)
        Non-controlling interests $(9)   $(9)   $(9)       $(9)   $(9)   $(9)
        Shares – diluted 255.0   255.0   255.0       255.0   255.0   255.0
        Earnings Per Share – diluted $1.78   $1.97   $2.16       $2.46   $2.66   $2.86


        Note (1) Additional Information:

        1. GAAP Gross Profit is expected to include Purchase Price Accounting (“PPA”) effects, $(7) million; Share-based Compensation, $(15) million; Other Incidentals, $(7) million;
        2. GAAP Operating Income (loss) is expected to include PPA effects, $(33) million; Share-based Compensation, $(115) million; Restructuring and Other Incidentals, $(34) million;
        3. GAAP Financial Income (expense) is expected to include Other financial expense $(12) million;
        4. GAAP Results relating to equity-accounted investees is expected to include results relating to non-foundry equity-accounted investees $(6) million;
        5. GAAP diluted EPS is expected to include the adjustments noted above for PPA effects, Share-based Compensation, Restructuring and Other Incidentals in GAAP Operating Income (loss), the adjustment for Other financial expense, the adjustment for results relating to non-foundry equity-accounted investees and the adjustment on Tax due to the earlier mentioned adjustments.

        NXP has based the guidance included in this release on judgments and estimates that management believes are reasonable given its assessment of historical trends and other information reasonably available as of the date of this release. Please note, the guidance included in this release consists of predictions only, and is subject to a wide range of known and unknown risks and uncertainties, many of which are beyond NXP’s control. The guidance included in this release should not be regarded as representations by NXP that the estimated results will be achieved. Actual results may vary materially from the guidance we provide today. In relation to the use of non-GAAP financial information see the note regarding “Non-GAAP Financial Measures” below. For the factors, risks, and uncertainties to which judgments, estimates and forward-looking statements generally are subject see the note regarding “Forward-looking Statements.” We undertake no obligation to publicly update or revise any forward-looking statements, including the guidance set forth herein, to reflect future events or circumstances.

        Non-GAAP Financial Measures

        In managing NXP’s business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures, that are not in accordance with, nor an alternative to, U.S. generally accepted accounting principles (“GAAP”). In measuring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing our gross margin and operating margin and when assessing appropriate levels of research and development efforts. In addition, management relies upon these non-GAAP financial measures when making decisions about product spending, administrative budgets, and other operating expenses. We believe that these non-GAAP financial measures, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of the Company’s results of operations and the factors and trends affecting NXP’s business. We believe that they enable investors to perform additional comparisons of our operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to core operating performance, certain non-cash expenses and share-based compensation expense, which may obscure trends in NXP’s underlying performance. This information also enables investors to compare financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management.

        These non-GAAP financial measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. The presentation of these and other similar items in NXP’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent, or unusual. Reconciliations of these non-GAAP measures to the most comparable measures calculated in accordance with GAAP are provided in the financial statements portion of this release in a schedule entitled “Financial Reconciliation of GAAP to non-GAAP Results (unaudited).” Please refer to the NXP Historic Financial Model file found on the Financial Information page of the Investor Relations section of our website at https://investors.nxp.com for additional information related to our rationale for using these non-GAAP financial measures, as well as the impact of these measures on the presentation of NXP’s operations.

        In addition to providing financial information on a basis consistent with GAAP, NXP also provides the following selected financial measures on a non-GAAP basis: (i) Gross profit, (ii) Gross margin, (iii) Research and development, (iv) Selling, general and administrative, (v) Amortization of acquisition-related intangible assets, (vi) Other income, (vii) Operating income (loss), (viii) Operating margin, (ix) Financial Income (expense), (x) Income tax benefit (provision), (xi) Results relating to non-foundry equity-accounted investees, (xii) Net income (loss) attributable to stockholders, (xiii) Earnings per Share – Diluted, (xiv) EBITDA, adjusted EBITDA and trailing 12 month adjusted EBITDA, and (xv) free cash flow, trailing 12 month free cash flow and trailing 12 month free cash flow as a percent of Revenue. The non-GAAP information excludes, where applicable, the amortization of acquisition related intangible assets, the purchase accounting effect on inventory and property, plant and equipment, merger related costs (including integration costs), certain items related to divestitures, share-based compensation expense, restructuring and asset impairment charges, extinguishment of debt, foreign exchange gains and losses, income tax effect on adjustments described above and results from non-foundry equity-accounted investments.

        The difference in the benefit (provision) for income taxes between our GAAP and non-GAAP results relates to the income tax effects of the GAAP to non-GAAP adjustments that we make and the income tax effect of any discrete items that occur in the interim period. Discrete items primarily relate to unexpected tax events that may occur as these amounts cannot be forecasted (e.g., the impact of changes in tax law and/or rates, changes in estimates or resolved tax audits relating to prior year tax provisions, the excess or deficit tax effects on share-based compensation, etc.).

        Conference Call and Webcast Information

        The company will host a conference call with the financial community on Tuesday, April 29, 2025 at 8:00 a.m. U.S. Eastern Daylight Time (EDT) to review the first quarter 2025 results in detail.

        Interested parties may preregister to obtain a user-specific access code for the call here.

        The call will be webcast and can be accessed from the NXP Investor Relations website at www.nxp.com. A replay of the call will be available on the NXP Investor Relations website within 24 hours of the actual call.

        About NXP Semiconductors

        NXP Semiconductors N.V. (NASDAQ: NXPI) is the trusted partner for innovative solutions in the automotive, industrial & IoT, mobile, and communications infrastructure markets. NXP’s “Brighter Together” approach combines leading-edge technology with pioneering people to develop system solutions that make the connected world better, safer, and more secure. The company has operations in more than 30 countries and posted revenue of $2.84 billion in 2024. Find out more at www.nxp.com.

        Forward-looking Statements

        This document includes forward-looking statements which include statements regarding NXP’s business strategy, financial condition, results of operations, market data, as well as any other statements which are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include the following: market demand and semiconductor industry conditions; our ability to successfully introduce new technologies and products; the demand for the goods into which NXP’s products are incorporated; trade disputes between the U.S. and China, potential increase of barriers to international trade and resulting disruptions to NXP’s established supply chains; the impact of government actions and regulations, including restrictions on the export of US-regulated products and technology; increasing and evolving cybersecurity threats and privacy risks, including theft of sensitive or confidential data; the ability to generate sufficient cash, raise sufficient capital or refinance corporate debt at or before maturity to meet both NXP’s debt service and research and development and capital investment requirements; our ability to accurately estimate demand and match our production capacity accordingly or obtain supplies from third-party producers to meet demand; our access to production capacity from third-party outsourcing partners, and any events that might affect their business or NXP’s relationship with them; our ability to secure adequate and timely supply of equipment and materials from suppliers; our ability to avoid operational problems and product defects and, if such issues were to arise, to correct them quickly; our ability to form strategic partnerships and joint ventures and to successfully cooperate with our alliance partners; our ability to win competitive bid selection processes; our ability to develop products for use in customers’ equipment and products; the ability to successfully hire and retain key management and senior product engineers; global hostilities, including the invasion of Ukraine by Russia and resulting regional instability, sanctions and any other retaliatory measures taken against Russia and the continued hostilities and the armed conflict in the Middle East, which could adversely impact the global supply chain, disrupt our operations or negatively impact the demand for our products in our primary end markets; the ability to maintain good relationships with NXP’s suppliers; and a change in tax laws could have an effect on our estimated effective tax rate. In addition, this document contains information concerning the semiconductor industry, our end markets and business generally, which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the semiconductor industry, our end markets and business will develop. NXP has based these assumptions on information currently available, if any one or more of these assumptions turn out to be incorrect, actual results may differ from those predicted. While NXP does not know what impact any such differences may have on its business, if there are such differences, its future results of operations and its financial condition could be materially adversely affected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak to results only as of the date the statements were made. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after we distribute this document, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in our SEC filings. Copies of our SEC filings are available on our Investor Relations website, www.nxp.com/investor or from the SEC website, www.sec.gov.

        For further information, please contact:

        Investors:
        Jeff Palmer 
        jeff.palmer@nxp.com
        +1 408 205 0687        		 Media:
        Paige Iven
        paige.iven@nxp.com
        +1 817 975 0602
           
        NXP-CORP


        NXP Semiconductors
        Table 1: Condensed consolidated statement of operations (unaudited)

        ($ in millions except share data) Three months ended
          March 30,
        2025        		   December 31,
        2024        		   March 31,
        2024
                   
        Revenue $ 2,835     $ 3,111     $ 3,126  
        Cost of revenue   (1,275 )     (1,433 )     (1,343 )
        Gross profit   1,560       1,678       1,783  
        Research and development   (547 )     (612 )     (564 )
        Selling, general and administrative   (281 )     (323 )     (306 )
        Amortization of acquisition-related intangible assets   (27 )     (28 )     (51 )
        Total operating expenses   (855 )     (963 )     (921 )
        Other income (expense)   18       (40 )     (6 )
        Operating income (loss)   723       675       856  
        Financial income (expense):          
        Other financial income (expense)   (92 )     (91 )     (70 )
        Income (loss) before income taxes   631       584       786  
        Benefit (provision) for income taxes   (130 )     (77 )     (141 )
        Results relating to equity-accounted investees   (4 )     (2 )     (1 )
        Net income (loss)   497       505       644  
        Less: Net income (loss) attributable to non-controlling interests   7       10       5  
        Net income (loss) attributable to stockholders   490       495       639  
                   
        Earnings per share data:          
        Net income (loss) per common share attributable to stockholders in $
        Basic $ 1.93     $ 1.95     $ 2.49  
        Diluted $ 1.92     $ 1.93     $ 2.47  
                   
        Weighted average number of shares of common stock outstanding during the period (in thousands):
        Basic   253,709       254,349       256,567  
        Diluted   255,018       256,628       258,954  
                   

        NXP Semiconductors
        Table 2: Condensed consolidated balance sheet (unaudited)

          ($ in millions) As of
            March 30,
        2025        		   December 31,
        2024        		   March 31,
        2024
        ASSETS          
        Current assets:          
          Cash and cash equivalents $         3,988           $         3,292           $         2,908        
          Short-term deposits           —                     —                     400        
          Accounts receivable, net           1,060                     1,032                     881        
          Inventories, net           2,350                     2,356                     2,102        
          Other current assets           627                     625                     603        
        Total current assets           8,025                     7,305                     6,894        
                     
        Non-current assets:          
          Deferred tax assets           1,284                     1,251                     1,048        
          Other non-current assets           1,942                     1,796                     1,290        
          Property, plant and equipment, net           3,210                     3,267                     3,304        
          Identified intangible assets, net           777                     836                     839        
          Goodwill           9,942                     9,930                     9,945        
        Total non-current assets           17,155                     17,080                     16,426        
                     
        Total assets           25,180                     24,385                     23,320        
                     
        LIABILITIES AND EQUITY          
        Current liabilities:          
          Accounts payable           863                     1,017                     954        
          Restructuring liabilities-current           75                     147                     68        
          Other current liabilities           1,412                     1,434                     1,906        
          Short-term debt           1,499                     500                     —        
        Total current liabilities           3,849                     3,098                     2,928        
                     
        Non-current liabilities:          
          Long-term debt           10,226                     10,354                     10,178        
          Restructuring liabilities           4                     10                     9        
          Other non-current liabilities           1,424                     1,392                     1,055        
        Total non-current liabilities           11,654                     11,756                     11,242        
                     
          Non-controlling interests           355                     348                     321        
          Stockholders’ equity           9,322                     9,183                     8,829        
        Total equity           9,677                     9,531                     9,150        
                   
        Total liabilities and equity           25,180                     24,385                     23,320        
                     

        NXP Semiconductors
        Table 3: Condensed consolidated statement of cash flows (unaudited)

        ($ in millions) Three months ended
          March 30,
        2025        		   December 31,
        2024        		   March 31,
        2024
        Cash flows from operating activities:          
        Net income (loss) $ 497     $ 505     $ 644  
        Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:          
        Depreciation and amortization   209       259       235  
        Share-based compensation   127       117       115  
        Amortization of discount (premium) on debt, net   1       1       1  
        Amortization of debt issuance costs   1       2       2  
        Net (gain) loss on sale of assets   (22 )     (1 )     (2 )
        Results relating to equity-accounted investees   4       2       1  
        (Gain) loss on equity securities, net   6       6       2  
        Deferred tax expense (benefit)   (27 )     (145 )     (64 )
        Changes in operating assets and liabilities:          
        (Increase) decrease in receivables and other current assets   (29 )     (25 )     (25 )
        (Increase) decrease in inventories   6       (122 )     32  
        Increase (decrease) in accounts payable and other liabilities   (110 )     16       (102 )
        (Increase) decrease in other non-current assets   (106 )     (218 )     6  
        Exchange differences   4       (1 )     3  
        Other items   4       (5 )     3  
        Net cash provided by (used for) operating activities   565       391       851  
                   
        Cash flows from investing activities:          
        Purchase of identified intangible assets   (25 )     (36 )     (32 )
        Capital expenditures on property, plant and equipment   (139 )     (130 )     (226 )
        Insurance recoveries received for equipment damage   —       —       2  
        Proceeds from the disposals of property, plant and equipment   1       1       2  
        Advance payment from sale of property, plant and equipment   —       30       —  
        Proceeds of short-term deposits   —       400       9  
        Purchase of investments   (53 )     (67 )     (34 )
        Proceeds from the sale of investments   —       —       5  
        Net cash provided by (used for) investing activities   (216 )     198       (274 )
                   
        Cash flows from financing activities:          
        Repurchase of long-term debt   —       —       (1,000 )
        Proceeds from the issuance of long-term debt   370       670       —  
        Cash paid for debt issuance costs   —       (1 )     —  
        Proceeds from the issuance of commercial paper notes   646       —       —  
        Repayment of commercial paper notes   (146 )     —       —  
        Dividends paid to common stockholders   (258 )     (258 )     (261 )
        Proceeds from issuance of common stock through stock plans   37       3       37  
        Purchase of treasury shares and restricted stock unit withholdings   (303 )     (455 )     (303 )
        Other, net   (1 )     —       (1 )
        Net cash provided by (used for) financing activities   345       (41 )     (1,528 )
                   
        Effect of changes in exchange rates on cash positions   2       (4 )     (3 )
        Increase (decrease) in cash and cash equivalents   696       544       (954 )
        Cash and cash equivalents at beginning of period   3,292       2,748       3,862  
        Cash and cash equivalents at end of period   3,988       3,292       2,908  
                   
        Net cash paid during the period for:          
        Interest   41       92       38  
        Income taxes, net of refunds   96       280       198  
        Net gain (loss) on sale of assets:          
        Cash proceeds from the sale of assets   31       1       2  
        Book value of these assets   (9 )     —       —  
        Non-cash investing activities:          
        Non-cash capital expenditures   108       161       223  
                   

        NXP Semiconductors
        Table 4: Financial Reconciliation of GAAP to non-GAAP Results (unaudited)

        ($ in millions except share data) Three months ended
          March 30,
        2025        		   December 31,
        2024        		   March 31,
        2024
        GAAP Gross Profit $ 1,560     $ 1,678     $ 1,783  
        PPA Effects   (8 )     (11 )     (12 )
        Restructuring   (4 )     (21 )     (3 )
        Share-based compensation   (16 )     (15 )     (15 )
        Other incidentals   (3 )     (64 )     (5 )
        Non-GAAP Gross Profit $ 1,591     $ 1,789     $ 1,818  
        GAAP Gross margin   55.0 %     53.9 %     57.0 %
        Non-GAAP Gross margin   56.1 %     57.5 %     58.2 %
        GAAP Research and development $ (547 )   $ (612 )   $ (564 )
        Restructuring   (7 )     (50 )     (3 )
        Share-based compensation   (64 )     (60 )     (58 )
        Other incidentals   (1 )     (5 )     (1 )
        Non-GAAP Research and development $ (475 )   $ (497 )   $ (502 )
        GAAP Selling, general and administrative $ (281 )   $ (323 )   $ (306 )
        Restructuring   (3 )     (41 )     (1 )
        Share-based compensation   (47 )     (42 )     (42 )
        Other incidentals   (20 )     (12 )     (29 )
        Non-GAAP Selling, general and administrative $ (211 )   $ (228 )   $ (234 )
        GAAP Operating income (loss) $ 723     $ 675     $ 856  
        PPA effects   (40 )     (39 )     (63 )
        Restructuring   (14 )     (112 )     (7 )
        Share-based compensation   (127 )     (117 )     (115 )
        Other incidentals   —       (122 )     (39 )
        Non-GAAP Operating income (loss) $ 904     $ 1,065     $ 1,080  
        GAAP Operating margin   25.5 %     21.7 %     27.4 %
        Non-GAAP Operating margin   31.9 %     34.2 %     34.5 %
        GAAP Income tax benefit (provision) $ (130 )   $ (77 )   $ (141 )
        Income tax effect   13       87       30  
        Non-GAAP Income tax benefit (provision) $ (143 )   $ (164 )   $ (171 )
        GAAP Net income (loss) attributable to stockholders $ 490     $ 495     $ 639  
        PPA Effects   (40 )     (39 )     (63 )
        Restructuring   (14 )     (112 )     (7 )
        Share-based compensation   (127 )     (117 )     (115 )
        Other incidentals   —       (122 )     (39 )
        Other adjustments:          
        Adjustments to financial income (expense)   (12 )     (17 )     (6 )
        Income tax effect   13       87       30  
        Results relating to equity-accounted investees, excluding Foundry investees1   (3 )     (2 )     (1 )
        Non-GAAP Net income (loss) attributable to stockholders $ 673     $ 817     $ 840  
                   
                   
        Additional Information:          
        1. Refer to Table 7 below for further information regarding the results relating to equity-accounted investees.
                   
        GAAP net income (loss) per common share attributable to stockholders – diluted $ 1.92     $ 1.93     $ 2.47  
        PPA Effects   (0.16 )     (0.15 )     (0.24 )
        Restructuring   (0.05 )     (0.44 )     (0.03 )
        Share-based compensation   (0.50 )     (0.46 )     (0.44 )
        Other incidentals   —       (0.47 )     (0.15 )
        Other adjustments:          
        Adjustments to financial income (expense)   (0.05 )     (0.07 )     (0.02 )
        Income tax effect   0.05       0.34       0.11  
        Results relating to equity-accounted investees, excluding Foundry investees1   (0.01 )     —       —  
        Non-GAAP net income (loss) per common share attributable to stockholders – diluted $ 2.64     $ 3.18     $ 3.24  
                   
                   
        Additional Information:          
        1. Refer to Table 7 below for further information regarding the results relating to equity-accounted investees.

        NXP Semiconductors
        Table 5: Financial Reconciliation of GAAP to non-GAAP Financial income (expense) (unaudited)

          ($ in millions) Three months ended
            March 30,
        2025        		   December 31,
        2024        		   March 31,
        2024
        GAAP Financial income (expense) $ (92 )   $ (91 )   $ (70 )
          Foreign exchange loss   (3 )     3       (1 )
          Other financial expense   (9 )     (20 )     (5 )
        Non-GAAP Financial income (expense) $ (80 )   $ (74 )   $ (64 )
                     

        NXP Semiconductors
        Table 6: Financial Reconciliation of GAAP to non-GAAP Other income (expense) (unaudited)

          ($ in millions) Three months ended
            March 30,
        2025        		   December 31,
        2024        		   March 31,
        2024
        GAAP Other income (expense) $ 18     $ (40 )   $ (6 )
          PPA effects   (5 )     —       —  
          Other incidentals   24       (41 )     (4 )
        Non-GAAP Other income (expense) $ (1 )   $ 1     $ (2 )
                   

        NXP Semiconductors
        Table 7: Financial Reconciliation of GAAP to non-GAAP Results relating to equity-accounted investees (unaudited)

          ($ in millions) Three months ended
            March 30,
        2025        		   December 31,
        2024        		   March 31,
        2024
        GAAP Results relating to equity-accounted investees $ (4 )   $ (2 )   $ (1 )
          Results of equity-accounted investees, excluding Foundry investees1   (3 )     (2 )     (1 )
        Non-GAAP Results relating to equity-accounted investees $ (1 )   $ —     $ —  
                   
        Additional Information:
        1. We adjust our results relating to equity-accounted investees for those results from investments over which NXP has significant influence, but not control, and whose business activities are not related to the core operating performance of NXP. Our equity-investments in foundry partners are part of our long-term core operating performance and accordingly those results comprise the Non-GAAP Results relating to equity-accounted investees.


        NXP Semiconductors
        Table 8: Adjusted EBITDA and Free Cash Flow (unaudited)

        ($ in millions) Three months ended
          March 30,
        2025        		   December 31,
        2024        		   March 31,
        2024
        GAAP Net income (loss) $ 497     $ 505     $ 644  
        Reconciling items to EBITDA (Non-GAAP)          
        Financial (income) expense   92       91       70  
        (Benefit) provision for income taxes   130       77       141  
        Depreciation and impairment   143       190       145  
        Amortization   66       69       90  
        EBITDA (Non-GAAP) $ 928     $ 932     $ 1,090  
        Reconciling items to adjusted EBITDA (Non-GAAP)          
        Results of equity-accounted investees, excluding Foundry investees1   3       2       1  
        Purchase accounting effect on asset sale   5       —       —  
        Restructuring   14       112       7  
        Share-based compensation   127       117       115  
        Other incidental items2   (4 )     77       39  
        Adjusted EBITDA (Non-GAAP) $ 1,073     $ 1,240     $ 1,252  
        Trailing twelve month adjusted EBITDA (Non-GAAP) $ 4,885     $ 5,064     $ 5,395  
                   
        Additional Information:          
        1. Refer to Table 7 above for further information regarding the results relating to equity-accounted investees.
        2. Excluding from total other incidental items, charges included in depreciation, amortization or impairment reconciling items:
        – other incidental items   4       45       —  
                   
                   
                   
        ($ in millions) Three months ended
          March 30,
        2025        		   December 31,
        2024        		   March 31,
        2024
        Net cash provided by (used for) operating activities $ 565     $ 391     $ 851  
        Net capital expenditures on property, plant and equipment   (138 )     (99 )     (224 )
        Non-GAAP free cash flow $ 427     $ 292     $ 627  
        Trailing twelve month non-GAAP free cash flow $ 1,889     $ 2,089     $ 2,933  
        Trailing twelve month non-GAAP free cash flow as percent of Revenue   15 %     17 %     22 %
                   

      The MIL Network –

  • MIL-OSI: Two Senior Executives Join the Diginex Team to Drive Sustainable Finance Initiatives and strategic M&A

    Source: GlobeNewswire (MIL-OSI)

    LONDON, April 28, 2025 (GLOBE NEWSWIRE) — Diginex Limited (“Diginex”) (NASDAQ: DGNX), a leading impact technology company focused on solving pressing environmental, social, and governance (ESG) challenges, is thrilled to announce the appointment of two senior executives to the Diginex team. This builds off recent news of strategic alliances signed with Russell Bedford International, Forvis Mazars, and Baker Tilly Singapore, marking a significant step for Diginex to support a sustainable and innovation-driven economy.

    Dan Campion was appointed as Diginex’s Global Chief Commercial Officer. With a distinguished career in strategic leadership and business development, Mr. Campion will spearhead Diginex’s efforts to expand its ESG solutions and sustainable finance offerings, reinforcing the Diginex’s commitment to creating a more responsible and resilient global economy.  

    Mr. Campion brings a wealth of experience to Diginex, having held senior leadership roles across multiple industries, including most recently as Global Head of “Markets” Sales at S&P Global. His expertise in navigating complex markets and delivering client-focused solutions aligns seamlessly with Diginex’s mission to empower organizations with cutting-edge tools for sustainability and ethical governance. In his new role, Mr. Campion will oversee Diginex’s global commercial strategy, help to accelerate market penetration, and strengthen Diginex’s position as a trusted partner in ESG and sustainable finance.  

    Lorenzo Romano was appointed as Diginex’s Lead Strategic Advisor on M&A. Mr. Romano is a seasoned banking executive with a distinguished track record in private banking, wealth management, and strategic growth advisory. Formerly Head of Private Banking at EFG Bank, Geneva, Mr. Romano spearheaded key initiatives to elevate client experience and expand the bank’s footprint. Prior to that, Mr. Romano served as Head of Switzerland, Europe, and the Middle East at Syz Bank, where he successfully led cross-border operations and business development across multiple regions. Leveraging over two decades of leadership in the financial sector, Mr. Romano will help to identify and execute accretive transactions across the Sustainability RegTech sector as the Company pursues a strategy of growth through acquisitions to complement the organic growth of its existing product lines.

    “We are delighted to welcome both Dan Campion and Lorenzo Romano to the Diginex team,” said Miles Pelham, Chairman and Founder of Diginex. “Their deep understanding of commercial dynamics and passion for sustainable innovation makes them the ideal leaders to advance our Sustainable RegTech solutions. Their appointments mark an exciting step forward as we continue to support businesses worldwide in achieving their sustainability goals as well as look to grow through accretive M&A transactions.”  

    About Diginex Limited

    Diginex Limited (Nasdaq: DGNX; ISIN KYG286871044), headquartered in London, is a sustainable RegTech business that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. The Company utilizes blockchain, AI, machine learning and data analysis technology to lead change and increase transparency in corporate regulatory reporting and sustainable finance. Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software. 

    The award-winning diginexESG platform supports 17 global frameworks, including GRI (the “Global Reporting Initiative”), SASB (the “Sustainability Accounting Standards Board”), and TCFD (the “Task Force on Climate-related Financial Disclosures”). Clients benefit from end-to-end support, ranging from materiality assessments and data management to stakeholder engagement, report generation and an ESG Ratings Support Service.

    For more information, please visit the Company’s website: https://www.diginex.com/.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results disclosed in the Company’s filings with the SEC.

    For investor and media inquiries, please contact:

    Diginex
    Investor Relations
    Email: ir@diginex.com  

    IR Contact – Europe
    Anna Höffken
    Phone: +49.40.609186.0
    Email: diginex@kirchhoff.de

    IR Contact – US
    Kincade Ayers
    Lambert by LLYC
    Phone: +1 (616) 258-5794
    Email: kincade.ayers@llyc.global

    IR Contact – Asia
    Shelly Cheng
    Strategic Public Relations Group Ltd.
    Phone: +852 2864 4857
    Email: sprg_diginex@sprg.com.hk

    The MIL Network –