Deliveroo confirmed it received a non-binding proposal from DoorDash on April 5, 2025, regarding a possible all-cash offer to acquire Deliveroo at 180 pence per share.

After reviewing the offer with its advisers, Deliveroo’s Board indicated that it would be inclined to recommend a firm offer on these terms, subject to agreement on final conditions.

Deliveroo is providing DoorDash with due diligence access. There is no certainty that a firm offer will be made. DoorDash must announce a firm intention to make an offer or withdraw by May 23, 2025, under UK Takeover Code rules.

An offer period has formally commenced. Deliveroo is being advised by Goldman Sachs and Allen & Company.

DoorDash has announced an expansion of its partnership with Coco Robotics to introduce sidewalk robot deliveries for customers in Los Angeles and Chicago.

Building on a successful pilot with Wolt in Helsinki, this U.S. launch enables customers in the two cities to receive orders from nearly 600 merchants via Coco’s fleet of emissions-free sidewalk robots.

During the pilot phase, Coco completed over 100,000 deliveries. The new integration is part of DoorDash’s broader multi-modal delivery strategy, which includes Dashers, drones, and autonomous robots. According to Harrison Shih of DoorDash Labs, robot delivery complements the Dasher network and supports the company’s aim to lower costs and emissions while meeting growing demand.

Coco CEO Zach Rash emphasized the combination of Coco’s AI robocourier technology with DoorDash’s national reach as a key step toward modernizing urban delivery. Local merchants, such as Main Chick Hot Chicken, have already reported improved operational efficiency and customer satisfaction thanks to the robot delivery model.

DoorDash’s investment in autonomy also includes drone delivery partnerships like the one with Wing. The company aims to match each delivery with the most efficient fulfillment method, enhancing service for customers, merchants, and Dashers alike.

DoorDash, Inc. (NASDAQ: DASH) today announced that the company’s first quarter 2025 financial results will be released after the U.S. financial markets close on Wednesday, May 7, 2025. The company’s earnings press release will be made available on the DoorDash Investor Relations website at ir.doordash.com.

DoorDash will host a conference call to discuss its results and guidance at 2 p.m. PT / 5 p.m. ET the same day. Interested parties may register for and access the live webcast of the call at the DoorDash Investor Relations website at ir.doordash.com. Following the call, a replay will be available at the same website.

DoorDash Expands Retail and Alcohol Offerings, Becoming a One-Stop Shop for Local Needs

On March 25, 2025, DoorDash announced new milestones in its retail, grocery, and alcohol delivery services, continuing its transformation into a full-spectrum local shopping platform. With major additions like DSW joining the app, users can now order a wide selection of footwear alongside traditional items like groceries and flowers—all delivered with DoorDash’s signature speed.

Valentine’s Day 2025 marked a record-breaking day for DoorDash, with over 1 million U.S. orders and 350,000 bouquets delivered. Alcohol sales also surged, with wine orders up 95% compared to the previous year and a significant rise in small business participation.

DoorDash reports that 99% of users in the U.S. now have access to non-restaurant retailers, and 1 in 4 consumers placed an order from grocery, convenience, retail, or alcohol stores in December 2024. DSW’s integration brings nearly 500 stores into the DoorDash network, making it easier for consumers to shop for shoes and accessories on-demand.

The company highlights its mission to support both national brands and local merchants, aiming to drive incremental growth and meet the evolving expectations of consumers who want convenience across more categories.

DoorDash Expands DoubleDash Ad Solutions to Boost Brand Reach and Post-Checkout Sales

On March 25, 2025, DoorDash introduced new advertising features for its DoubleDash platform, aimed at helping brands connect with high-intent consumers after they’ve completed a restaurant order. DoubleDash allows users to add items from multiple stores to their original order without extra delivery fees or order minimums.

The new ad tools include Banner ads, which appear in the first position post-checkout to boost brand visibility, and upgraded Sponsored Products capabilities, offering better targeting and performance monitoring. Early results show Banner ads deliver over 95% new-to-brand impressions, while Sponsored Products on DoubleDash achieve an 18% higher click-to-conversion rate than standard placements. Brands like Ben & Jerry’s, Red Bull, Pepsi, and Mondelēz have already seen success with these formats.

With access to more than 42 million monthly active users, DoorDash aims to give advertisers a powerful platform to drive incremental sales and reach new customers during the crucial post-checkout window.

DoorDash has expanded its grocery offerings by partnering with six local grocers across the United States. The new additions include Earth Fare, King Kullen, Mollie Stone’s Markets, Uncle Giuseppe’s Marketplace, Westside Market, and Wild by Nature, enhancing DoorDash’s selection of over 11 million grocery and retail products.

These partnerships allow customers to order a variety of groceries, fresh produce, prepared meals, and specialty items for on-demand delivery. The newly added grocers cater to diverse needs, from organic and natural products at Earth Fare and Wild by Nature to gourmet offerings at Uncle Giuseppe’s Marketplace and Westside Market.

DoorDash continues to strengthen its presence in grocery and retail, providing partners with technology to reach more customers. The new grocers will also be available through DashPass, offering members benefits such as $0 delivery fees and reduced service fees on eligible orders.

DoorDash and Dollar General have announced a partnership to bring SNAP/EBT payment options to more than 16,000 Dollar General stores on the DoorDash Marketplace. This move nearly doubles DoorDash’s network of stores that accept SNAP/EBT online payments, expanding access to over 35,000 locations.

Enabled in partnership with Forage, this collaboration allows SNAP recipients to order groceries, including fresh and frozen foods, pantry staples, and snacks, for delivery across 48 states. With 75% of the U.S. population living within five miles of a Dollar General store, the initiative aims to increase accessibility and convenience for SNAP users.

DoorDash reports that 2.4 million consumers have added their SNAP/EBT card to its platform, with a significant portion using the service due to mobility or health challenges that make in-person shopping difficult. To further support food access, DoorDash offers a discounted DashPass plan for SNAP recipients at $4.99 per month for one year, providing benefits such as free delivery on eligible orders.

The partnership reflects both companies' commitment to addressing food insecurity and ensuring that more people can conveniently access affordable, healthy groceries.

DoorDash is offering Illinois restaurants an opportunity to increase their revenue, with some establishments earning between $45,000 and $78,000 annually through the platform. The service helps restaurants connect with local customers, offering delivery and pickup options that are flexible and scalable without requiring additional overhead or staffing.

By using DoorDash’s marketing tools, including customizable promotions and in-app advertising, restaurants can enhance their visibility and attract more customers. The platform also provides a potential earnings calculator to estimate revenue gains. Restaurants interested in expanding their reach and boosting sales can explore their potential earnings and sign up today.
ILLINOISRESTAURANTS.ORG

DOORDASH TO JOIN S&P 500. STOCK PRICE SURGED

DoorDash has unveiled its latest marketing campaign for DashPass, featuring comedian Nate Bargatze in a humorous ad set to air during the Big Game on February 9. The campaign, titled “Give Yourself A Pass,” emphasizes the savings DashPass members enjoy, with an average of $5 saved per eligible order and over $10 billion saved globally since its launch in 2018. In a unique twist, DoorDash is offering a 50% discount on one order (up to $15) for DashPass members in the losing team’s city on February 10. The campaign will also include social engagement and content inspired by the viral “girl math” trend. Source: DoorDash News.

DoorDash highlighted improvements made in 2024 and plans for 2025 to enhance the experience for Dashers. In 2024, flexibility was expanded through the Dasher Preferences tool, enabling Dashers to choose delivery types and customize their work schedules. A new Rewards program introduced Silver, Gold, and Platinum tiers, providing Dashers with enhanced benefits. Stronger safeguards were implemented, including frequent identity re-verifications and updates to the account deactivation process.

Looking ahead to 2025, DoorDash plans to refine its Dasher Rewards with a new Overall Dasher Rating system and additional perks. The company is exploring expansions for the Dasher Relief Fund and new earning opportunities like taking photos of menus or confirming store hours. Safety measures will continue to be scaled, ensuring the integrity of the platform. These updates reflect DoorDash's commitment to flexibility, rewards, and safety for its Dashers.

Deliveroo confirmed it received a non-binding proposal from DoorDash on April 5, 2025, regarding a possible all-cash offer to acquire Deliveroo at 180 pence per share.

After reviewing the offer with its advisers, Deliveroo’s Board indicated that it would be inclined to recommend a firm offer on these terms, subject to agreement on final conditions.

Deliveroo is providing DoorDash with due diligence access. There is no certainty that a firm offer will be made. DoorDash must announce a firm intention to make an offer or withdraw by May 23, 2025, under UK Takeover Code rules.

An offer period has formally commenced. Deliveroo is being advised by Goldman Sachs and Allen & Company.

Centene reported first quarter 2025 diluted EPS of $2.63 and adjusted diluted EPS of $2.90, representing a 28% increase from $2.26 in the first quarter of 2024.

Premium and service revenue grew 17% year-over-year. Membership rose by 29% in Marketplace plans and 22% in Medicare Prescription Drug Plans (PDP) compared to the prior year period. The company raised its 2025 premium and service revenue guidance by $6.0 billion, citing strong Marketplace enrollment and better-than-expected Medicare member retention.

Centene's SilverSummit Healthplan Wins Expanded Nevada Medicaid Contract, Adds Public Option Role

Centene Corporation announced that its subsidiary SilverSummit Healthplan has been awarded a new five-year Nevada Medicaid managed care contract, now expanding into rural and frontier areas previously served via fee-for-service. Starting January 1, 2026, SilverSummit will continue delivering primary care, behavioral health, pharmacy, and telehealth services to over 100,000 Medicaid members. Additionally, SilverSummit’s marketplace offering, Ambetter, was selected for Nevada’s new Battle Born State Plan public option, projected to serve 16,000 individuals in its first year. Both contracts include optional two-year extensions.

Ohana Health Plan and HMHB Hawaii Expand Maternal Health Program with $300,000 Investment

On March 27, 2025, ‘Ohana Health Plan, a Centene Corporation company, announced a $300,000 investment to expand its partnership with the Healthy Mothers Healthy Babies Coalition of Hawaii (HMHB Hawaii). This brings their total capital investment in the "Mana ‘Ohana" program to $500,000.

Mana ‘Ohana is a holistic maternal and child health program led by midwives and rooted in culturally responsive, community-based care. It provides ‘Ohana Health Plan members with perinatal support services—both clinical and social—delivered directly to communities through mobile clinics.

The program has already demonstrated impact, with more than 40% of the plan’s pregnant members utilizing its services in the first year. According to Kari Shintaku, Vice President of Population Health and Quality Improvement at ‘Ohana Health Plan, this led to improved prenatal and postpartum care and a reduction in NICU costs.

Sunny Chen, CEO of HMHB Hawaii, highlighted the importance of the partnership, noting that Mana ‘Ohana is expanding access to care that is both culturally sensitive and person-centered, improving outcomes for mothers and babies across Hawaii.

The initiative exemplifies the power of strategic, locally tailored partnerships in improving public health outcomes.

'Ohana Health Plan, a leading provider of government-sponsored managed care services in Hawaiʻi and a Centene Corporation company (NYSE: CNC), announced today a $25,000 contribution to the University of Hawaii Foundation for the 'Ohana Health Plan Pre-Nursing Scholarship at the University of Hawaiʻi West Oʻahu.

Centene Corporation announced that its subsidiary, Meridian Health Plan of Illinois, has been awarded a contract by the Illinois Department of Healthcare and Family Services to continue providing services for dually eligible Medicare and Medicaid members through a Fully Integrated Dual Eligible Special Needs Plan (D-SNP). The contract, beginning January 1, 2026, and running through December 31, 2029, includes an option for renewal for up to 10 years.

Meridian will serve 77,000 dually eligible individuals across Illinois, expanding to 60,000 additional Managed Long Term Services and Supports members in 2027. The plan will focus on integrating medical, behavioral, and social care to improve health outcomes and reduce disparities.

Centene CEO Sarah M. London emphasized the company’s commitment to addressing the unique healthcare needs of dually eligible individuals. Meridian has served Illinois since 2008 and is one of four health plans selected for the program.

Centene, a Fortune 500 company, provides government-sponsored healthcare programs, including Medicaid and Medicare, to more than one in 15 individuals nationwide. The company focuses on accessible, high-quality, and cost-effective healthcare solutions.

Centene Corporation Enters Into New $6 Billion Credit Agreement
St. Louis, Missouri – March 5, 2025 – Centene Corporation (NYSE: CNC), a leading multinational healthcare enterprise, announced today that it has entered into a new $6 billion credit agreement (the New Credit Agreement) with Wells Fargo Bank, National Association as administrative agent, and a syndicate of lenders. This agreement replaces the Fourth Amended and Restated Credit Agreement from August 16, 2021, which has now been terminated.

Key Terms of the New Credit Agreement
The New Credit Agreement consists of:

$4 billion revolving credit facility
$2 billion term loan facility
Maturity Date: March 5, 2030
Loans can be denominated in various currencies, including U.S. dollars, Euros, Sterling, Swiss Francs, Yen, Australian dollars, and Canadian dollars
Interest rates are determined based on benchmark rates applicable to the currency borrowed, plus an applicable margin tied to Centene’s credit rating from S&P and Moody’s
Debt Covenant and Usage of Proceeds
Debt-to-capital ratio must not exceed 0.60 to 1.00, with a temporary increase to 0.65 to 1.00 allowed for a limited time following a material acquisition
Centene used an initial drawing from the Term Loan Facility to:
Refinance existing indebtedness, including obligations under the previous credit agreement
Fund general corporate purposes and working capital needs
Pay transaction-related fees
Additional Terms and Conditions
Prepayments & Reductions: Voluntary prepayments and reductions of unused commitments are permitted without penalty
Events of Default: The credit facility is subject to acceleration upon certain events, including:
Cross-defaults on Centene’s debts exceeding $500 million
Judgments/orders of $500 million or more that are unpaid or unstayed
Change in control of Centene
Failure to make payments when due
Bankruptcy or insolvency events
The New Credit Agreement strengthens Centene’s financial flexibility, providing enhanced liquidity and strategic funding capacity as the company continues its growth and operational improvements.

About Centene Corporation
Centene Corporation (NYSE: CNC) is a leading healthcare enterprise that provides government-sponsored healthcare programs focusing on underinsured and uninsured individuals. It offers a diverse portfolio of services including Medicaid, Medicare, and Health Insurance Marketplace coverage.

Peach State Health Plan and the Centene Foundation announced an investment in the redevelopment of Atlanta’s Bowen Homes community, partnering with Atlanta Housing and the City of Atlanta. This initiative, led by McCormack Baron Salazar, aims to provide quality housing and healthcare while addressing health disparities. The project will include over 750 residential units with community-focused amenities. The Centene Foundation’s funding is part of a broader commitment to improving healthcare access and addressing social determinants of health. Peach State Health Plan serves Medicaid and uninsured populations, while the Centene Foundation focuses on healthcare access, social services, and education in underserved communities.

Centene Corporation announced that its senior management team will meet with investors on March 4, 2025, and reaffirm its 2025 full-year adjusted diluted earnings per share (EPS) guidance floor of greater than $7.25. This guidance was initially provided on February 4, 2025.

The company uses non-GAAP financial measures to help investors assess its core operations consistently across periods. These measures exclude amortization of acquired intangible assets, acquisition and divestiture-related expenses, and other items. Centene emphasizes that its non-GAAP financial measures may differ from those used by other companies and should not be viewed as a substitute for GAAP financial data.

The company also issued forward-looking statements regarding its financial and operational performance, regulatory changes, contract developments, and market conditions. These statements are subject to various risks, including competition, government reimbursement rates, changes in healthcare laws, cybersecurity threats, and economic factors.

Centene advises investors that its guidance remains effective only as of the date issued and will not be updated unless publicly reaffirmed.

The Hartford reported first quarter 2025 net income available to common stockholders of $625 million ($2.15 per diluted share), down 16% from $748 million ($2.47 per diluted share) in the same period of 2024. Core earnings were $639 million ($2.20 per diluted share), a decrease of 10% from $709 million ($2.34 per diluted share) a year earlier. The trailing 12-month net income return on equity (ROE) was 18.8%, and the core earnings ROE was 16.2%. Property & Casualty (P&C) written premiums rose 9%, driven by 10% growth in Business Insurance and 8% growth in Personal Insurance. Business Insurance posted a combined ratio of 94.4 and an underlying combined ratio of 88.4, similar to the previous year. Personal Insurance showed a combined ratio of 106.1 and an improved underlying combined ratio of 89.7, a 6.4-point improvement over 2024. Employee Benefits delivered a net income margin of 7.4% and a core earnings margin of 7.6%, up from 6.1% last year. Catastrophe losses totaled $467 million before tax, including $325 million from the January 2025 California Wildfire Event, net of reinsurance. The Hartford returned $550 million to stockholders through $400 million of share repurchases and $150 million in dividends.

Charter reported a slight decline in total Internet customers, decreasing by 60,000 during the quarter to 30.0 million as of March 31, 2025.

Meanwhile, mobile growth remained strong, with 514,000 new mobile lines added, bringing the total to 10.4 million lines. Overall customer relationships, excluding mobile-only customers, reached 31.4 million. Revenue for the quarter was $13.7 billion, up 0.4% year-over-year, supported by 33.5% growth in residential mobile service revenue, 1.8% growth in residential Internet revenue, and 13.4% growth in other revenue. Net income attributable to Charter shareholders was $1.2 billion.

Adjusted EBITDA grew 4.8% to $5.8 billion. Capital expenditures were $2.4 billion, including $878 million for line extensions. Net cash flows from operating activities reached $4.2 billion, up from $3.2 billion a year ago. Free cash flow rose to $1.6 billion, mainly driven by lower capital spending, higher EBITDA, and lower interest payments. During the quarter, Charter repurchased 2.1 million shares for approximately $751 million.

Charter Communications, Inc. (NASDAQ: CHTR) (the "Company" or "Charter") will host a webcast on Friday, April 25, 2025 at 8:30 a.m. Eastern Time (ET) to discuss financial and operating results for the quarter ended March 31, 2025. A press release reporting such results will be issued at 7:00 a.m. ET on April 25.


The webcast can be accessed live via the Company's investor relations website at ir.charter.com. The webcast will be archived at ir.charter.com approximately two hours after completion of the webcast.

Charter Communications reported its fourth-quarter and full-year 2024 financial results, showing modest revenue growth alongside a decline in total Internet and video customers. Fourth-quarter revenue reached $13.9 billion, a 1.6% increase year-over-year, driven by a 37.4% rise in mobile service revenue, a 26.4% increase in advertising sales, and a 14.6% growth in other revenue streams. However, total Internet customers declined by 177,000, attributed to the end of the FCC's Affordable Connectivity Program and hurricane impacts. Despite this, mobile lines increased by 529,000, reaching 9.9 million.

For the full year, Charter's revenue grew 0.9% to $55.1 billion, with Adjusted EBITDA rising 3.1% to $22.6 billion. Net income attributable to shareholders was $5.1 billion, a 11.5% increase. Capital expenditures totaled $11.3 billion, including $4.2 billion for network expansions. Free cash flow improved to $4.3 billion, up from $3.5 billion in 2023, aided by higher Adjusted EBITDA and a favorable change in working capital.

Despite declines in video and voice customers, Charter emphasized its investment in network upgrades, with plans to roll out symmetrical multi-gigabit Internet speeds across its footprint. The company introduced new pricing strategies under its "Life Unlimited" brand platform to enhance customer retention and service value.

Looking ahead, Charter expects 2025 capital expenditures of approximately $12 billion, with a focus on network expansion and infrastructure upgrades. The company remains confident in its long-term growth, citing improved service offerings, increased customer value, and continued investment in rural broadband initiatives.

Phillips 66 reported first-quarter earnings of $487 million, or $1.18 per share.

On an adjusted basis, the company posted a loss of $368 million, or $0.90 per share, primarily reflecting $246 million of pre-tax accelerated depreciation tied to the Los Angeles Refinery. During the quarter, Phillips 66 returned $716 million to shareholders through dividends and share repurchases.

The company also received $2.0 billion in cash proceeds from the previously announced sales of its non-operated equity interests in Coop Mineraloel AG and Gulf Coast Express Pipeline LLC. Additionally, Phillips 66 sanctioned the construction of a new gas processing plant in the Permian Basin and recently closed on its acquisition of EPIC Y-Grade GP, LLC and EPIC Y-Grade LP.

On April 24, 2025, the Independent Directors of Phillips 66 sent a letter to shareholders and proxy advisors, raising concerns about activist investor Elliott Management’s campaign to break up the company.

They emphasized the importance of transparency and independence in corporate governance and questioned Elliott’s expectations of director loyalty, possible conflicts of interest due to Elliott’s pursuit of CITGO, and the legality of Elliott’s board declassification proposal. Phillips 66 reiterated that it is committed to declassifying its board legally and responsibly. The company also released a video detailing its governance practices and strategic oversight, encouraging shareholders to independently evaluate the facts ahead of the 2025 Annual Meeting.

Phillips 66 Responds to Gregory Goff, Citing Conflict of Interest with Elliott Management

Phillips 66 has issued a strong rebuttal to a letter from Gregory J. Goff addressed to its shareholders, asserting that Goff is “clearly affiliated with Elliott Management.” According to the company, Goff remains listed as CEO of Amber Energy, a firm backed by Elliott in its bid for Citgo, a Phillips 66 competitor—an association that the board says creates a clear conflict of interest.

The company criticized Goff’s letter for omitting this affiliation, stating that it misleads shareholders and reflects Elliott’s "growing desperation" in its push for a breakup of Phillips 66. The board reaffirmed its confidence in the company’s long-term value, citing $43 billion returned to shareholders through dividends and buybacks.

This exchange is part of an ongoing proxy fight ahead of the company’s 2025 Annual Meeting. Phillips 66 has filed its proxy materials with the SEC and urges shareholders to review its official filings, which include detailed information on participants and nominees.

Phillips 66 is a leading downstream energy company with global operations in refining, chemicals, midstream, marketing, and renewables. Headquartered in Houston, it continues to pursue energy transition goals while delivering shareholder returns.

More details are available on Phillips 66’s [investor relations website](https://investor.phillips66.com) and the SEC’s official site.

Phillips 66 (NYSE: PSX) announced that Elliott Associates, L.P. has submitted a notice to nominate director candidates for election to the company's board at the 2025 Annual Meeting of Shareholders. Elliott also intends to propose a non-binding business resolution requesting that the board adopt an annual election policy for directors, requiring incumbent board members to submit resignations annually.

Phillips 66's Nominating and Governance Committee will review the proposal, and the board will present its recommendations in the company’s definitive proxy statement, which will be filed with the SEC ahead of the 2025 Annual Meeting.

The company plans to file a proxy statement and accompanying WHITE proxy card with the SEC, encouraging shareholders to review the materials when they become available.

Phillips 66 Announces Board Changes Ahead of 2025 Annual Meeting

HOUSTON – Phillips 66 (NYSE: PSX) announced that board members **Gary K. Adams** and **Denise L. Ramos** have decided not to stand for reelection at the company's 2025 Annual Meeting of Shareholders. Their decisions are part of the company's ongoing board refreshment strategy and are not due to any disagreements with the company regarding its operations, policies, or practices.

Both Adams and Ramos will continue serving on the board until their terms expire at the annual meeting. Following their departures, the board size will be reduced from **14 to 12 members**.

Phillips 66 continues to align its leadership with its strategic direction, ensuring a diverse and experienced board to guide the company's future.

Phillips 66 (NYSE: PSX) reported fourth-quarter 2024 earnings of $8 million, or $0.01 per share, impacted by a $230 million pre-tax charge for accelerated depreciation related to the Los Angeles Refinery. Adjusted losses for the quarter were $61 million, or $0.15 per share. The company returned $1.1 billion to shareholders through dividends and share repurchases while achieving record NGL fractionation and LPG export volumes in Midstream and record clean product yield in Refining. For full-year 2024, Phillips 66 posted earnings of $2.1 billion, with adjusted earnings of $2.6 billion, and returned $5.3 billion to shareholders. The company also achieved $1.5 billion in run-rate business transformation savings and captured $500 million in synergies from its DCP integration. Phillips 66 set new financial and operational targets for 2027, prioritizing debt reduction, cost structure improvements, and EBITDA growth while committing to return over 50% of operating cash flow to shareholders.

Aon reported 16% total revenue growth and 5% organic revenue growth for the quarter ended March 31, 2025.

Earnings per share (EPS) were $4.43 and adjusted EPS were $5.67. Strong free cash flow supported continued small acquisitions and $397 million of capital returned to shareholders through dividends and share repurchases.

The company remains on track to meet its year-end leverage target of 2.8 to 3.0 times. Aon announced a 10% increase to its quarterly dividend, marking its 15th consecutive year of dividend growth, and reaffirmed its 2025 guidance for mid-single-digit or greater organic revenue growth, margin expansion, strong adjusted EPS growth, and double-digit free cash flow growth.

Aon reported 16% total revenue growth and 5% organic revenue growth for the quarter ended March 31, 2025.

Earnings per share (EPS) were $4.43 and adjusted EPS were $5.67. Strong free cash flow supported continued small acquisitions and $397 million of capital returned to shareholders through dividends and share repurchases.

The company remains on track to meet its year-end leverage target of 2.8 to 3.0 times. Aon announced a 10% increase to its quarterly dividend, marking its 15th consecutive year of dividend growth, and reaffirmed its 2025 guidance for mid-single-digit or greater organic revenue growth, margin expansion, strong adjusted EPS growth, and double-digit free cash flow growth.

Aon Reports Record Q1 2025 Economic Losses of $83B Due to Natural Disasters

Aon released its Q1 Global Catastrophe Recap, revealing global economic losses of at least $83 billion — the highest ever recorded for a first quarter and significantly above the 21st-century average of $61 billion. The increase was primarily driven by California wildfires and other billion-dollar disasters, including severe storms in the U.S. and major earthquakes in Myanmar and China.

The U.S. alone accounted for $71 billion in economic losses, its highest Q1 total since 1994. In contrast, losses in other regions were below average. Q1 insured losses are expected to exceed $53 billion — more than triple the long-term Q1 average — with California wildfires contributing $38 billion (71%).

Aon also highlighted a narrowing insurance protection gap, with 64% of global catastrophe losses covered, resulting in the lowest Q1 protection gap (36%) since 1990. Over 6,000 fatalities were recorded in Q1 2025, 88% of them from the March earthquake in Myanmar.

Aon emphasized the importance of advanced risk management and launched its SCS Five-Step Framework in response to the rising impact of severe convective storms, which caused $54 billion in U.S. insured losses in 2024.

Aon plc Announces Retirement of Long-Serving Board Member Fulvio Conti

DUBLIN, Ireland – Aon plc (NYSE: AON) announced that Fulvio Conti, a member of the company’s Board of Directors, will retire following the completion of his current term at the upcoming 2025 Annual General Meeting. His departure will mark the end of over 15 years of service to the company.

In a notice dated April 7, 2025, Mr. Conti confirmed that his decision to retire is not the result of any disagreement with Aon regarding its operations, policies, or practices.

Lester Knight, Chair of Aon’s Board of Directors, praised Mr. Conti’s longstanding contributions:

“Fulvio has provided our Board with valuable perspectives and insights on international business and finance matters throughout his tenure. It has been my great privilege to serve alongside Fulvio, and we all wish him the very best.”

Mr. Conti's tenure with Aon has spanned a period of significant growth and transformation for the company, including strategic expansions and evolving regulatory environments in global risk management.

Aon plc, headquartered in Dublin, Ireland, is a leading global professional services firm providing a broad range of risk, retirement, and health solutions. The company’s shares and several of its debt instruments are actively traded on the New York Stock Exchange.

Aon has introduced its new Profitable Growth Tool, a benchmarking and advisory service designed to help insurers enhance performance and secure a competitive advantage. Launched on April 10, 2025, the tool was developed by Aon’s Strategy and Technology Group and builds upon the firm's Growth Decision Framework and analysis of over 100 global re/insurers.

The tool enables insurers to self-assess across seven critical performance categories, ranking themselves on a scale from one to five. They are then benchmarked within Aon’s Maturity Path Model and receive customized recommendations. Clients also have the option to consult with Aon experts to identify growth opportunities, address risks, and create actionable strategies.

The seven performance categories the tool emphasizes are: risk appetite, speed and agility, data and analytics, underwriting, talent, distribution, and capital. These are traits that Aon has identified as common among top-performing insurers.

Paul Campbell of Aon noted that strong cycle management strategies are crucial for insurers to sustain long-term success, particularly amid pressures like climate change and geopolitical risks. Rupert Moore added that the tool offers clients meaningful benchmarks and consultative guidance to optimize capital and talent, and ultimately enhance value for both policyholders and shareholders.

Aon Reports Favorable Reinsurance Market Conditions at April 2025 Renewals

Aon released its *Reinsurance Market Dynamics* report, highlighting improved pricing and expanded capacity in the global reinsurance market during the April 1 renewal period—particularly for Asia Pacific countries like Japan, South Korea, and India. These favorable “buyer-friendly” conditions are expected to continue into the mid-year renewals, bolstered by strong reinsurer performance and minimal natural catastrophe losses.

Reinsurer capital reached a record $715 billion in 2024, driven by strong earnings and a growing catastrophe bond market, which now holds nearly $50 billion in outstanding limit. Insurers in Japan and South Korea saw double-digit reductions in risk-adjusted property catastrophe rates, and even previously challenged areas like per-risk covers experienced better pricing.

Aon anticipates continued insurer demand for more than $7.5 billion in additional U.S. property catastrophe coverage at mid-year, with opportunities emerging for frequency protections and top-up covers.

Facultative reinsurance also saw significant growth, especially in Asia Pacific, with reinsurers offering more capacity and competitive terms, further benefiting insurers looking to expand and manage volatility.

The report also outlined traits of high-performing insurers, such as strong risk appetite, speed to market, use of data and analytics, innovative underwriting, top-tier talent, effective distribution, and flexible capital strategies.

As the final major renewal period of 2025 approaches, reinsurers are expected to compete actively to meet growth targets, making it a strategic opportunity for insurers to secure advantageous coverage.

Aon Appoints Soeren Soltysiak as Asia CEO of Reinsurance Solutions

Aon plc has appointed Soeren Soltysiak as the new CEO of Reinsurance Solutions for Asia, effective April 1, 2025. Based in Singapore, Soltysiak will lead the firm’s reinsurance strategy in the region, overseeing treaty, facultative, analytics, and operations. He will report to George Attard, APAC CEO of Reinsurance Solutions.

Previously serving as Aon's strategic growth leader for APAC Reinsurance Solutions, Soltysiak played a key role in advancing the firm’s regional growth strategies. Alongside his promotion, Musa Adlan has been named managing director, Asia, for Reinsurance Solutions. Adlan will expand his role while continuing as head of Southeast Asia Reinsurance Solutions, reporting to Soltysiak.

Additional leadership changes include Pierre Vende and Danny Alexander as co-heads of life and health Reinsurance Solutions, Soojin Kim and Cindy Gu as co-heads of retrocession APAC, and Tom Drake as chairman of Reinsurance Solutions Speciality, APAC.

Aon stated that the appointments reflect its ongoing investment in talent and its commitment to meeting evolving client needs across reinsurance sectors, especially in life, health, and retrocession.

For more, visit Aon’s Reinsurance Solutions page at aon.com.

Aon plc has announced leadership transitions effective March 14, 2025. Eric Andersen has transitioned to the role of Senior Advisor and no longer serves as President of Aon plc and Aon Corporation. Gregory C. Case, the company’s Chief Executive Officer, has assumed the additional title of President.

Aon and Aon Corporation have amended Case’s employment agreement to reflect his new role, though his compensation arrangements remain unchanged. A press release detailing these changes was issued on March 17, 2025.

The company has filed an 8-K report with the U.S. Securities and Exchange Commission, which includes the amended employment agreement and the official press release regarding these transitions.

Aon reported strong financial results for Q4 and full-year 2024, with total revenue increasing by 23 percent in the fourth quarter and 17 percent for the year, driven by organic revenue growth of 6 percent and the acquisition of NFP. The company posted a 33 percent increase in diluted EPS for the quarter, while adjusted EPS grew by 14 percent. Full-year diluted EPS remained flat, while adjusted EPS increased by 10 percent.

Operating margin improved to 26.3 percent in the fourth quarter from 23.1 percent a year earlier, but the full-year operating margin declined to 24.4 percent from 28.3 percent. Adjusted operating margin was 33.3 percent in the fourth quarter and 31.5 percent for the full year. Cash flow from operations declined by 12 percent to $3 billion due to higher tax payments, restructuring, and integration costs. Free cash flow decreased by 11 percent to $2.8 billion.

The company introduced new segmentation with two business units: risk capital, which includes commercial risk and reinsurance solutions, and human capital, which covers health and wealth solutions. Risk capital revenue grew by 13 percent in Q4, while human capital revenue increased by 41 percent, largely due to the NFP acquisition.

Aon provided 2025 guidance, expecting mid-single-digit or greater organic revenue growth, adjusted margin expansion, strong adjusted EPS growth, and double-digit free cash flow growth. The company plans to continue investing in organic growth, tuck-in acquisitions, and shareholder returns, including $1 billion in share repurchases.

CEO Greg Case highlighted strong client demand for Aon's risk and human capital solutions amid complex market conditions. He emphasized the company’s ability to deliver long-term value through its strategic initiatives, including the integration of NFP and execution of the 3x3 Plan.

HCA Healthcare reported revenues of $18.321 billion for the first quarter of 2025.

Net income attributable to the company was $1.610 billion, translating to $6.45 per diluted share. Adjusted EBITDA reached $3.733 billion, and cash flows from operating activities totaled $1.651 billion. Same facility admissions increased by 2.6 percent, while same facility equivalent admissions rose by 2.8 percent compared to the first quarter of 2024.

HCA-Led Trials Show AI-Powered Alerts Significantly Improve Antibiotic Selection in Hospitals

Two large NIH-funded clinical trials conducted across 92 HCA Healthcare hospitals found that computerized alerts tailored to patient data improved antibiotic selection by 35% for abdominal infections and 28% for skin and soft tissue infections. The system, developed with UC Irvine and Harvard Pilgrim Health Care Institute, uses real-time data from electronic health records to help physicians avoid unnecessary broad-spectrum antibiotics. The findings, published in *JAMA*, support broader adoption of data-driven stewardship tools to combat antibiotic resistance in U.S. hospitals.

HCA Healthcare, Inc. (NYSE:HCA), one of the nation’s leading healthcare providers, today announced that it has been named on Fortune’s 2025 World’s Most Admired Companies list. HCA Healthcare is ranked first overall in its industry.

HCA Healthcare Appoints Monica Cintado as Senior Vice President of Development

HCA Healthcare announced the appointment of Monica Cintado as senior vice president of development. In her new role, Cintado will lead the company’s enterprise development strategy, overseeing mergers, acquisitions, divestitures, and strategic investments. She will also manage market analysis, partnerships, and real estate planning to support HCA Healthcare’s continued growth.

Cintado, who first joined HCA Healthcare in 1993 and returned in 2015, previously served as vice president of development and head of corporate development. She brings extensive experience in healthcare partnerships and acquisitions, including leadership roles at United Surgical Partners International. She holds degrees from Vanderbilt University and Rollins College.

She succeeds Joe Sowell, who is retiring after more than 15 years of service. Sowell played a key role in shaping HCA Healthcare’s corporate strategy and leading major transactions.

Based in Nashville, HCA Healthcare operates 190 hospitals and around 2,400 care sites across 20 U.S. states and the UK, and continues to innovate through its learning health system and large-scale clinical research.

HCA Healthcare Foundation Awards $1.84 Million Grant to United Way for Family Support Initiative

On March 25, 2025, HCA Healthcare announced that its foundation will award a $1.84 million grant to Mile High United Way to launch *United for Healthy Starts*, a national initiative aimed at improving health, social, and educational outcomes for families. Funded through the HCA Healthcare Foundation’s Healthier Tomorrow Fund, the program will begin in Denver and expand through partnerships with United Ways in Dallas, Miami, and Nashville.

The initiative will provide home visitation and tailored support services for families with young children, helping them access essential care and resources. By creating a national collaborative learning community, *United for Healthy Starts* also aims to form new nonprofit partnerships and foster scalable impact beyond the initial grant.

This announcement extends HCA Healthcare’s 30-year history of supporting United Way, with over $17 million contributed to date. The grant reflects HCA’s broader commitment to advancing community health in the areas it serves.

100 HCA Healthcare Hospitals Earn Healthgrades Patient Safety Excellence Award

HCA Healthcare, Inc. announced the completion of a $5.25 billion senior notes offering through its wholly owned subsidiary, HCA Inc. The offering includes notes with maturities ranging from 2028 to 2055, with fixed and floating interest rates. The proceeds will be used for general corporate purposes, including debt repayment. The notes are guaranteed by HCA Healthcare and are subject to covenants limiting certain financial activities. Additionally, in case of a change of control and ratings downgrade, noteholders have the right to require HCA to repurchase the notes at 101% of their principal value.

HCA Healthcare, Inc. announced a proposed public offering of senior notes through its wholly owned subsidiary, HCA Inc. The actual terms of the notes, including maturity, interest rate, and principal amount, will be determined based on market conditions at the time of pricing. The proceeds from the offering will be used for general corporate purposes, potentially including the repayment of existing or future credit facilities.

The offering is being conducted under an effective shelf registration statement filed with the SEC and is being managed by BofA Securities, Barclays Capital, Citigroup Global Markets, J.P. Morgan Securities, Mizuho Securities USA, and Wells Fargo Securities.

HCA emphasized that this press release does not constitute an offer to sell or solicit securities in any jurisdiction where such action would be unlawful. The company also included forward-looking statements about the expected use of proceeds, noting that actual outcomes may differ due to market risks and uncertainties. More details on potential risks are available in HCA’s latest SEC filings.

HCA Healthcare reported strong financial results for Q4 2024, with revenues totaling $18.285 billion, a 5.7% increase compared to Q4 2023. Net income attributable to the company was $1.438 billion, or $5.63 per diluted share, which includes an estimated $0.60 per share impact from Hurricanes Helene and Milton. Adjusted EBITDA was $3.712 billion, up from $3.618 billion in the prior year. Cash flows from operating activities were $2.559 billion, slightly lower than $2.674 billion in Q4 2023.

Same facility admissions increased 3.0%, and same facility revenue per equivalent admission rose 2.9% compared to the same quarter in 2023. Same facility inpatient surgeries grew 2.8%, while outpatient surgeries declined 1.3%. The hurricanes resulted in additional expenses and revenue losses estimated at $200 million for Q4 and $250 million for the year.

For the full year 2024, revenues reached $70.603 billion, up from $64.968 billion in 2023, and net income attributable to the company was $5.760 billion, or $22.00 per diluted share. Adjusted EBITDA for 2024 was $13.882 billion, compared to $12.726 billion in 2023.

The company repurchased 4.739 million shares in Q4 at a cost of $1.7 billion, with $764 million remaining under its authorization. HCA’s Board also approved a new $10 billion share repurchase program and declared a quarterly cash dividend of $0.72 per share, payable on March 31, 2025.

HCA’s facilities impacted by the hurricanes have resumed normal operations, and future dividends will depend on the company’s financial performance. The company remains focused on long-term growth and operational improvements.

Analog Devices, Inc. to Report Second Quarter Fiscal Year 2025 Financial Results on Thursday, May 22, 2025

Analog Devices Establishes New $3 Billion Revolving Credit Facility
WILMINGTON, Mass., April 11, 2025 – Analog Devices, Inc. (Nasdaq: ADI) announced that it has entered into a new $3 billion revolving credit facility, expanding and extending its existing credit arrangement through a Fourth Amended and Restated Credit Agreement with a syndicate of major banks led by Bank of America, N.A. The new facility has a maturity date of April 11, 2030 and remains currently undrawn.

The credit facility includes a multicurrency borrowing feature and allows for borrowings by both Analog Devices and certain subsidiaries designated as borrowers under the agreement. Loans may be structured as Term SOFR or Base Rate loans, with applicable margins based on the company's current credit ratings. SOFR-based borrowings carry an additional 0.10% SOFR adjustment, with margins ranging between 0.46% and 0.90%, while a facility fee applies at an annual rate of 0.040% to 0.100%.

Analog Devices has the flexibility to repay and reborrow amounts at its discretion without penalty. The facility may also be extended annually upon lender approval.

The credit agreement includes customary financial covenants, including a minimum interest coverage ratio of 3.00 to 1.00, and standard negative covenants such as limits on liens and mergers. It also includes standard default provisions covering nonpayment, covenant breaches, insolvency, and change of control.

Bank of America serves as Administrative Agent, Swing Line Lender, and L/C Issuer. Other key financial institutions involved include JPMorgan Chase, Citibank, Morgan Stanley, Barclays, and BNP Paribas.

This new agreement replaces the company’s previous facility dated June 23, 2021, and strengthens ADI’s liquidity position as it continues to invest in innovation and strategic initiatives.

Analog Devices, Inc. Announces Results of Annual Shareholder Meeting
Wilmington, MA – March 12, 2025 – Analog Devices, Inc. (Nasdaq: ADI) announced the results of its annual shareholder meeting, held on March 12, 2025.

Key Voting Outcomes
1. Board of Directors Election
Shareholders elected all eleven nominees to serve until the next annual meeting. The nominees and voting results were:

Nominee Votes For Votes Against Abstentions
Vincent Roche 394,079,828 22,825,878 964,144
Stephen M. Jennings 409,592,925 7,635,785 641,140
André Andonian 410,547,435 6,673,472 648,943
Edward H. Frank 402,327,614 14,894,700 647,536
Laurie H. Glimcher 410,196,656 7,018,050 655,144
Karen M. Golz 409,590,181 7,624,355 655,314
Peter B. Henry 415,478,750 1,741,086 650,014
Mercedes Johnson 415,411,795 1,812,007 646,048
Ray Stata 413,571,891 3,659,658 638,301
Andrea F. Wainer 416,143,070 1,081,128 645,652
Susie Wee 414,623,707 2,607,813 638,330
2. Executive Compensation ("Say-on-Pay")
Shareholders approved the compensation of Analog Devices' named executive officers in an advisory vote.

Votes For Votes Against Abstentions
378,705,444 38,337,019 827,387
3. Ratification of Independent Auditor
Shareholders ratified Ernst & Young LLP as the company’s independent registered public accounting firm for fiscal year 2025.

Votes For Votes Against Abstentions
418,794,598 27,513,130 922,774
4. Amendments to Articles of Organization
Shareholders approved amendments to reduce certain voting requirements from a supermajority to a simple majority.

Votes For Votes Against Abstentions
415,526,330 1,608,806 734,714
Conclusion
Analog Devices’ board and executive compensation were strongly supported, and the company’s governance changes received overwhelming approval. The company remains focused on long-term growth and value creation for its shareholders.

Analog Devices has introduced an expanded version of its CodeFusion Studio solution, aimed at improving efficiency and data security for developers. The CodeFusion Studio System Planner offers enhanced resource allocation for heterogeneous architectures and optimized code generation, helping developers accelerate product development for the Intelligent Edge.

A key addition is the Data Provenance Software Development solution, which ensures data trust and traceability throughout its lifecycle. By using cryptographic proof and secure metadata, the solution helps maintain data integrity and authenticity, supporting reliable AI models and sensor insights.

The system planner provides a graphical utility for project creation, memory partitioning, and real-time operating system configuration, allowing developers to customize and optimize their designs. Analog Devices also announced an upgraded ADI Assure Trusted Edge Security Architecture to further enhance security measures.

These advancements are designed to help developers manage complex system designs more efficiently while ensuring secure, high-quality data for AI and machine learning applications. The new solutions will be available for early access on April 25 through Analog Devices' developer platform.

Analog Devices

Analog Devices, Inc. (ADI) reported fiscal first-quarter 2025 results that exceeded expectations, highlighting a positive start to the year with improving demand trends across key sectors.

Revenue for the quarter surpassed $2.4 billion, driven by sequential growth in Industrial, Automotive, and Communications, and double-digit year-over-year growth in Consumer. The company generated $3.8 billion in operating cash flow and $3.2 billion in free cash flow on a trailing twelve-month basis.

Continuing its long history of shareholder returns, ADI raised its quarterly dividend by 8% to $0.99 per share, marking its 21st consecutive year of increases. Additionally, the company expanded its share repurchase authorization by $10 billion, bringing the total remaining buyback capacity to approximately $11.5 billion.

CEO Vincent Roche noted that ADI outperformed its outlook despite macroeconomic and geopolitical challenges, citing strong cyclical recovery and new customer wins as key drivers. CFO Richard Puccio echoed this optimism, stating that bookings improved during the quarter, particularly in Industrial and Automotive, positioning the company for sequential and year-over-year growth in the next quarter.

With fiscal 2025 expected to be a year of growth, ADI remains focused on delivering differentiated innovation, enhancing customer experience, and maintaining an agile supply chain.

Analog Devices, Inc. is set to receive up to $105 million in funding under the CHIPS and Science Act to expand and modernize its semiconductor manufacturing facilities in Beaverton, Oregon; Camas, Washington; and Chelmsford, Massachusetts. This investment, announced by the U.S. Commerce Department, is part of a broader federal initiative to revitalize domestic semiconductor production and is expected to create 500 new jobs across all three sites.

The Beaverton plant will see the most significant upgrades, with plans to increase operations by 70%, focusing on "front-end mature node semiconductor manufacturing" for applications in automotive, industrial, and defense sectors. The funding will also enable the company to adopt environmentally friendly manufacturing practices, strengthen local workforce training, and expand partnerships with universities and community colleges to support the Silicon Forest ecosystem.

This expansion builds on Analog Devices' previous $1 billion investment in Beaverton, which was completed in 2024. The site currently employs approximately 950 people, with global operations totaling 24,000 employees.

Analog Devices' funding is part of a larger effort under the CHIPS Act, which has already allocated $1.9 billion to Intel in Hillsboro, $72 million to Microchip Technologies in Gresham, and $53 million to HP in Corvallis. Nationally, other recipients include Coherent in Pennsylvania, IntelliEPI in Texas, and Sumika in Texas, bringing the total announced investment to $246 million. This initiative reflects a federal push to enhance U.S. technological leadership and semiconductor manufacturing capacity.