LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transportation Services Inc. (NASDAQ: JBHT), one of the largest supply chain solutions providers in North America, announced its industry-leading technology solution J.B. Hunt 360°® is now integrated within the SAP® ERP application, bringing together two leading solutions to create a one-stop source for managing logistics needs.

"By adding the freight-matching power of J.B. Hunt 360 directly within SAP systems, businesses will have greater access to a variety of shipping solutions, all within the platform they use each day," said Shelley Simpson, chief commercial officer and executive vice president of people and human resources at J.B. Hunt. "Whether you're responding to unexpected demand or new to the digital marketplace, J.B. Hunt is making the process more efficient for your business.”

The integration with SAP ERP will enable businesses that use SAP solutions to instantly access J.B. Hunt 360’s freight-matching marketplace to secure capacity for shipments. In just a few clicks, a load can be scheduled for delivery through a qualified carrier in J.B. Hunt 360, providing access to nearly one million trucks throughout the U.S without leaving the SAP system. Shipment information such as load documentation and invoices will also be stored in the system for easy access.

The integration will automate many time-consuming manual tasks, especially for small and medium-sized businesses, making the process more efficient and convenient. Businesses using SAP technology will have access to Shipper 360™ by J.B. Hunt - a shipper-focused platform of J.B. Hunt 360 - for detailed tracking and visibility into shipments. They can also create alerts for arrivals, delays, and deliveries using Shipper 360, allowing them to focus on other tasks while having access to information when they need it.

J.B. Hunt 360 is the company’s technology solution that addresses the need for efficiency, cost savings, and visibility across the supply chain. By leveraging innovative technology, a talented workforce, and 60 years of industry experience, J.B. Hunt strives to create the most efficient transportation network in North America.

About J.B. Hunt

J.B. Hunt Transport Services Inc., an S&P 500 company, provides innovative supply chain solutions for a variety of customers throughout North America. Utilizing an integrated, multimodal approach, the company applies technology-driven methods to create the best solution for customers, adding efficiency, flexibility, and value to their operations. J.B. Hunt services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, final mile, and more. J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average. J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT. For more information, visit www.jbhunt.com.

Any statements in this release that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties described in SAP’s filings with the U.S. Securities and Exchange Commission, including its most recent annual report on Form 20-F, that could cause actual results to differ materially from expectations. SAP cautions readers not to place undue reliance on these forward-looking statements which SAP has no obligation to update and which speak only as of their dates.

SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.

Brittnee Davie
Vice President - Marketing
479.419.3178
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NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”) announced today that it plans to release third quarter 2021 results before market open on Tuesday, November 9, 2021.

The Company will host a conference call to discuss its third quarter 2021 results at 9:00 a.m. Eastern Time (“ET”) on Tuesday, November 9, 2021.

To access the call, participants should dial (844) 200-6205 for domestic callers and (929) 526-1599 for international callers. Please dial in ten minutes prior to the start of the call.

A live webcast of the conference call will be available from the Investor Relations section of the Company’s website at https://www.intlseas.com/.

An audio replay of the conference call will be available starting at 12:00 p.m. ET on Tuesday, November 9, 2021 through 11:59 p.m. ET on Tuesday, November 16, 2021 by dialing (929) 458-6194 for domestic callers and +44 204 525 0658 for international callers, and entering Access Code 063148.

About International Seaways, Inc.

International Seaways, Inc. (NYSE: INSW) is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 94 vessels, including 13 VLCCs (including three new buildings), 15 Suezmaxes, five Aframaxes/LR2s, 12 Panamaxes/LR1s, 41 MR tankers and six Handy tankers. Through joint ventures, it has ownership interests in two floating storage and offloading service vessels. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY. Additional information is available at https://www.intlseas.com.

Forward-Looking Statements

This release contains forward-looking statements. In addition, the Company may make or approve certain statements in future filings with the U.S. Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of the Company. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate to the Company’s merger with Diamond S and plans to issue dividends, its prospects, including statements regarding vessel acquisitions, expected synergies, trends in the tanker markets, and possibilities of strategic alliances and investments. Forward-looking statements are based on the Company’s current plans, estimates and projections, and are subject to change based on a number of factors. Investors should carefully consider the risk factors outlined in more detail in the Annual Report on Form 10-K for 2020 for the Company, the Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, the Company’s Amended Registration Statement on Form S-4 dated June 3, 2021, and in similar sections of other filings made by the Company with the SEC from time to time. The Company assumes no obligation to update or revise any forward-looking statements. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by the Company with the SEC.

Investor Relations & Media:
International Seaways, Inc.
David Siever, 212-578-1635
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By building bridges between the public and private sector, Li-Bridge aims to accelerate the development of a robust and secure domestic supply chain for lithium-based batteries

LEMONT, Ill.--(BUSINESS WIRE)--To build bridges across the battery ecosystem, the U.S. Department of Energy’s (DOE) Argonne National Laboratory announces the creation of Li-Bridge, a new public-private alliance committed to accelerating the development of a robust and secure domestic supply chain for lithium-based batteries. Li-Bridge is focused on bringing key stakeholders together to improve the lithium battery supply chain and marks the first collaboration of its kind in the U.S. battery industry.

Recognized as a global leader in energy storage research and development, Argonne will serve as the facilitator between private industry and the Federal Consortium for Advanced Batteries (FCAB), which recently released a National Blueprint for Lithium Batteries, 2021 – 2030.

Putting the U.S. on a path to long-term competitiveness in the global battery value chain, the Blueprint outlines five critical goals to creating a domestic lithium-battery supply chain that generates equitable, clean-energy jobs in the U.S., while mitigating climate change.

“The new Li-Bridge alliance announced today is a major step forward in developing and sustaining a robust, domestic supply chain for batteries, which will be critical to vehicle electrification,” said Michael Berube, Deputy Assistant Secretary for Sustainable Transportation at DOE. “This coordination between public and private entities across the nation is paramount to achieving our vision of establishing a battery materials and technology supply chain that supports long-term U.S. economic competitiveness.”

Argonne, which has overcome myriad national energy storage challenges through R&D and amassed a portfolio of more than 250 patented battery advances, will work with DOE national labs across the country to meet national Blueprint goals. In addition, private industry participation will be facilitated through an alliance with three U.S.-based convenor organizations: NAATBatt International, New York Battery and Energy Storage Technology Consortium (NY-BEST), and New Energy Nexus.

Learn more about Li-Bridge at a virtual roundtable hosted by DOE and Argonne on Friday, October 29 from 1-2 p.m. EDT. The event will include remarks from DOE Deputy Secretary David Turk, Argonne National Laboratory Director Paul Kearns, and representatives from NAATBatt International, NY-BEST, and New Energy Nexus.

The national Blueprint outlines goals on solving breakthrough scientific challenges for new materials and developing a manufacturing base that meets the demands of the growing electric vehicle and stationary grid storage markets.

Li-Bridge will host a series of national forums to identify opportunities and challenges across the supply chain by aligning stakeholders and promoting increased collaboration toward the vision and goals of the Blueprint.

Full story.

Christopher J. Kramer
Head of Media Relations
Argonne National Laboratory
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Office: 630.252.5580

Former U.S. Secretary of Commerce brings global diplomacy, government experience and Fortune 500 corporate leadership expertise to the board

CHICAGO--(BUSINESS WIRE)--Exelon today announced that its board of directors elected Carlos Gutierrez to join the board as a director. Gutierrez, 67, is a former U.S. Secretary of Commerce and the current CEO and executive chairman of EmPath, Inc., a SaaS technology platform that uses machine learning to identify employee skills for large organizations.

Prior to his role at EmPath, Secretary Gutierrez served as chair of the Albright Stonebridge Group, a global strategic advisory firm. He served as U.S. Secretary of Commerce from 2005 to 2009 under President George W. Bush, where he worked with foreign government and business leaders to advance economic relationships, enhance trade and promote U.S. exports. Secretary Gutierrez played a key role in the passage of landmark free trade agreements that removed trade barriers, expanded export opportunities and boosted global investment.

“Secretary Gutierrez’ unique background in technology, government service and corporate leadership at a Fortune 500 company gives him a deep and well-rounded perspective on the work of the board,” said Mayo Shattuck, chairman of Exelon. “His expertise in global and domestic economics, corporate and financial management, strategic thinking and effective leadership will greatly benefit Exelon.”

Secretary Gutierrez also spent nearly 30 years with Kellogg Company, a global manufacturer and marketer of well-known food brands. After assignments in Latin America, Canada, Asia and the United States, he became president and CEO of Kellogg in 1999 − the youngest CEO in the company's hundred-year history. In April 2000, he was named chairman of the board of Kellogg Company.

Secretary Gutierrez currently serves on the boards of the Boao Forum for Asia, Occidental Petroleum Corporation, MetLife, Human Freedom Advisory Council for the Bush Institute, Tent Partnership for Refugees Advisory Council and TheDream.US

Secretary Gutierrez studied business administration at the Monterrey Institute of Technology in Querétaro, Mexico.

About Exelon

Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.

Liz Keating
Corporate Communications
312-848-0176
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HOUSTON--(BUSINESS WIRE)--Enstor Gas, LLC (“Enstor”), the largest privately owned gas storage company in the U.S. and an affiliate of ArcLight Capital Partners, LLC (“ArcLight”), today announced its Katy Storage and Transportation (Katy) facility became carbon neutral in Q3 2021. It is the first such carbon neutral gas storage facility in the nation.

Enstor achieved carbon neutral status at Katy by evaluating carbon emissions from Scope 1 facility operations and Scope 2 energy usage, in accordance with published Environmental Protection Agency standards, and purchasing corresponding offsets. Katy’s offsets were sourced from projects registered with the American Carbon Registry, which can be tracked at its website (americancarbonregistry.org). Further, Enstor is proud that its offsets and resulting carbon neutrality will benefit the Scope 3 emissions calculations of Katy’s upstream and downstream customers in the natural gas value chain.

“Achieving carbon neutrality at Katy demonstrates our commitment not only to meeting our customers’ needs but also to our dedication to our ESG principles. It further highlights our company’s focus on operating our assets in the most responsible manner,” notes Paul Bieniawski, Chief Executive Officer of Enstor Gas.

“Enstor’s success in making Katy Storage and Transportation carbon neutral is consistent with ArcLight’s strategy to focus on ESG principles through meaningful actions, including the measurement and reduction of the carbon footprint across our portfolio of assets,” said Dan Revers, Managing Partner and Founder of ArcLight.

Katy is a high-deliverability, multicycle natural gas storage facility located in Fort Bend and Waller counties in Texas. The facility has a working capacity of 23.5 billion cubic feet. It consists of a depleted gas production reservoir, redeveloped as a natural gas storage reservoir, and a dual pipeline header system interconnecting with 15 major natural gas pipelines. The facility’s strategic location and connectivity place it at the intersection of production from the Northeast, South Texas and the Permian Basin. The Katy facility is well positioned to serve growing market demand for LNG liquefaction and natural gas exports into Mexico and serves the storage needs of natural gas producers, energy marketers, electric power generators, utility and industrial users.

About Enstor Gas, LLC

Enstor Gas is the largest privately owned natural gas storage company in the United States. Headquartered in Houston, the company owns and operates seven active underground natural gas storage facilities in five states with more than 134 BCF in working gas capacity. Enstor has approximately 179 miles of transmission pipelines and 39 interconnects to major transmission pipelines. Enstor is backed by ArcLight Capital Partners, LLC, a leading private equity firm focused on North American energy infrastructure investments. For more information, please visit www.enstorinc.com.

About ArcLight Capital Partners, LLC

ArcLight is one of the leading private equity firms focused on energy infrastructure investments. Founded in 2001, the firm helped pioneer an asset-based private equity approach to investing in the dynamic energy sector. ArcLight has invested approximately $25 billion in 113 transactions since inception. Based in Boston, the firm's investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists and works closely with the firm's 1,000-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight's portfolio companies, can be found at www.arclightcapital.com.

Casey Nikoloric, Managing Principal
TEN|10 Group
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WATSONVILLE, Calif.--(BUSINESS WIRE)--$GVA #BuildBetterTogether--The Alaska Safety Advisory Council has awarded Granite the Governor’s Safety Award of Excellence for outstanding achievement in safety, health, and environment for 2020.

The Governor's Safety Award of Excellence is awarded to companies with sustained safety excellence and a commitment to continuous improvement. Awards are based on safety and environmental systems and performance metrics, reviewed from Occupational Safety and Health Administration (OSHA) safety data. This is the Alaska team’s sixth time receiving this award in the last nine years.

“This award recognizes Granite’s commitment to safety—a commitment to ensure everyone returns home safe and healthy at the end of the day,” said Granite Regional Safety Manager Chris Rodriguez. “Our team continues to prove that our motto Safety By Choice is not an extra step in what we do, but rather is at the core of everything we do.”

Granite congratulates each member of the Alaska Team, who all contributed to the efforts towards collective safety goals and whose work continues building upon a world-class safety culture, one day at a time.

For more information, visit akgshc.com/about.

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite provider in the transportation, water infrastructure and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook and Instagram.

Media
Erin Kuhlman, 831-768-4111

Investors
Wenjun Xu, 831-761-7861

BATAVIA, N.Y.--(BUSINESS WIRE)--Graham Corporation (NYSE: GHM), global business that designs, manufactures and sells critical equipment for the defense/space, energy/new energy and chemical/petrochemical industries, announced that its Board of Directors declared a quarterly cash dividend of $0.11 per common share.

The dividend will be payable on November 23, 2021 to stockholders of record at the close of business on November 9, 2021.

ABOUT GRAHAM CORPORATION

Graham is a global business that designs, manufactures and sells critical equipment for the defense/space, energy/new energy and chemical/petrochemical industries. The Graham and Barber-Nichols’ brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenics, and turbomachinery technologies, as well as the Company’s responsive and flexible service and unsurpassed quality.

Graham routinely posts news and other important information on its website, www.graham-mfg.com, where additional comprehensive information on Graham Corporation and its subsidiaries can be found.

Jeffrey F. Glajch
Vice President - Finance and CFO
Phone: (585) 343-2216
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Deborah K. Pawlowski
Kei Advisors LLC
Phone: (716) 843-3908
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WHITE PLAINS, N.Y.--(BUSINESS WIRE)--October 26, 2021-- ITT Inc. (NYSE: ITT) today announced Chief Executive Officer and President Luca Savi and Chief Financial Officer Emmanuel Caprais will present at the Baird Global Industrial Virtual Conference on Tuesday, November 9, 2021, from 11:25 a.m. – 11:55 a.m. ET.

A real-time audio webcast of the presentation is accessible at http://www.itt.com/investors, where related materials will be posted prior to the presentation. A replay of the presentation will be available for 30 days.

About ITT

ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and energy markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. ITT is headquartered in White Plains, N.Y., with employees in more than 35 countries and sales in approximately 125 countries. For more information, visit www.itt.com.

Media:
Kellie Harris
+1 914-641-2103
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Investors:
Mark Macaluso
+1 914-641-2064
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ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE:AGR) posted its third quarter 2021 earnings release and presentation in the Investors section of the Company’s website. Interested parties can access using the following link: www.avangrid.com.

In conjunction with the earnings release, AVANGRID will conduct a webcast conference call with financial analysts on Wednesday, October 27, 2021 beginning at 10:00 A.M. ET. AVANGRID’s Executive team will present an overview of the financial results followed by a question and answer session.

Interested parties, including analysts, investors and the media, may listen to a live audio-only webcast by accessing a link located in the Investors section of AVANGRID’s website at http://www.avangrid.com.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $39 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by Forbes and Just Capital as one of the 2021 JUST 100 companies – a list of America’s best corporate citizens – and was ranked number one within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.

Analysts: Patricia Cosgel 203-499-2624
Media: Zsoka McDonald 203-499-3809

CEO and President Jamie Welch Wins ALLY Executive Award And Team Award for Company’s Carbon Reduction Plan

HOUSTON--(BUSINESS WIRE)--EagleClaw Midstream today announced that Jamie Welch, President and CEO of EagleClaw Midstream was selected to win an ALLY Executive Award for his leadership during the global pandemic, and he won an ALLY Team Award for his role in establishing the company’s carbon reduction plan as part of its net zero greenhouse gas emissions by 2050 plan.

“This recognition belongs to every employee at EagleClaw Midstream for pulling together as a family during the global pandemic. We kept our business going and had minimal impacts to employee health and well-being,” said Jamie Welch.

He added, “I am also thrilled that our carbon reduction team’s plan received a team award, which goes to show that great ideas occur when our talented people are working on solving a common problem.”

At the beginning of the pandemic, Mr. Welch and his leadership team took salary reductions for months to ensure the company wasn’t required to force any layoffs. In addition, Mr. Welch elected to take no salary or bonus during 2020.

EagleClaw Midstream’s Carbon Reduction Task Force, launched by Mr. Welch, was charged with identifying solutions to further reduce the company’s carbon footprint toward its long-term goal of net zero GHG emissions by 2050.

Welch said the team includes experts across the company, thus bringing a true multi-disciplinary approach.

Under Mr. Welch’s leadership, EagleClaw Midstream expects to achieve single-digit reductions in its carbon emission level by 2025 compared to its 2020 base year. Lowering its carbon output will result from new technology and operational practices to be put in place.

About EagleClaw Midstream

EagleClaw Midstream is a fully integrated, private midstream company that safely, responsibly, and sustainably operates in the heart of the Delaware Basin with over 650,000 acres under long-term dedication. EagleClaw Midstream is headquartered in Midland and has a significant presence in Houston. EagleClaw Midstream provides comprehensive gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The Company is the largest private gas processor in the Delaware Basin, with 1,320 MMcf/day of capacity and more than 1,400 miles of operated pipelines. EagleClaw Midstream has long-term dedications for gas, crude, and water midstream services from approximately 30 successful and active producers in the Delaware Basin. EagleClaw Midstream is also a partner on the Permian Highway Pipeline project.

For more information, please visit our website at www.eagleclawmidstream.com.

Jim Schwartz
Senior Director, Corporate Communications & Sustainability
832-571-7457 (mobile) or This email address is being protected from spambots. You need JavaScript enabled to view it.

NEW YORK--(BUSINESS WIRE)--Golar LNG Partners LP, an indirect subsidiary of New Fortress Energy Inc. (NASDAQ: NFE), has declared a cash distribution of $0.546875 per unit of 8.75% Series A Cumulative Redeemable Preferred Units for the period from August 14, 2021 through November 12, 2021. This will be payable on November 15, 2021 to all Series A preferred unitholders of record as of November 8, 2021.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.

IR:
Joshua Kane
(516) 268-7455
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Media:
Jake Suski
(516) 268-7403
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HOUSTON--(BUSINESS WIRE)--NOV Inc. (NYSE: NOV) today reported third quarter 2021 revenues of $1.34 billion, a decrease of 5 percent compared to the second quarter of 2021 and a decrease of 3 percent compared to the third quarter of 2020. Net loss for the third quarter of 2021 was $69 million, or 5.1 percent of sales, which included $12 million in pre-tax charges related to COVID-19 operational disruptions on a project in a Southeast Asian shipyard and $24 million in Other Items (see Corporate Information for additional details). Adjusted EBITDA (operating profit excluding depreciation, amortization, and Other Items) decreased sequentially to $56 million, or 4.2 percent of sales.

“Rising oil and gas prices continue to drive higher demand for NOV, as our orders again exceeded our shipments in the third quarter,” stated Clay Williams, Chairman, President, and CEO. “While pandemic-related supply chain issues challenged certain projects, we nevertheless saw sequential improvement in many of our oilfield businesses, along with our strong order levels. Rising economic activity and higher backlogs continue to underpin our improving outlook for 2022.”

“We continue investing in technologies to both improve our offerings to oil and gas operators and grow our portfolio of renewable energy technologies. We were particularly pleased to again see offshore wind power related projects drive more than half of our Rig Technology segment’s orders in the third quarter, and we made steady progress in other low-carbon solutions under development. As global economies emerge from pandemic lockdowns, supply chains normalize, and energy demand grows, NOV is well positioned to generate much stronger financial returns from the coming multi-year up-cycle in both the conventional and renewable energy markets.”

Wellbore Technologies

Wellbore Technologies generated revenues of $507 million in the third quarter of 2021, an increase of 10 percent from the second quarter of 2021 and an increase of 40 percent from the third quarter of 2020. The increase in revenues was driven by oil and gas drilling activity levels that improved in every major region of the world, market share gains in certain markets, and higher prices. Operating profit was $32 million, or 6.3 percent of sales, and included $7 million of Other Items. Adjusted EBITDA increased $14 million sequentially to $77 million, or 15.2 percent of sales.

Completion & Production Solutions

Completion & Production Solutions generated revenues of $478 million in the third quarter of 2021, a decrease of 4 percent from the second quarter of 2021 and a decrease of 20 percent from the third quarter of 2020. COVID-19 operational disruptions and supply chain issues negatively impacted the conversion of revenue from backlog during the quarter. Operating loss was $26 million, or 5.4 percent of sales, and included $6 million in Other Items. Adjusted EBITDA decreased $9 million sequentially to -$5 million, or 1.0 percent of sales. Third quarter results included $12 million in charges related to COVID-19 operational disruptions on a project in a Southeast Asian shipyard.

New orders booked during the quarter totaled $384 million, representing a book-to-bill of 144 percent when compared to the $266 million of orders shipped from backlog. As of September 30, 2021, backlog for capital equipment orders for Completion & Production Solutions was $1.11 billion.

Rig Technologies

Rig Technologies generated revenues of $390 million in the third quarter of 2021, a decrease of 20 percent from the second quarter of 2021 and a decrease of 13 percent from the third quarter of 2020. The sequential decline in revenue was driven primarily by a $74 million project settlement in the second quarter that did not repeat. Operating profit was $1 million, or less than one percent of sales, and included $6 million of other items. Adjusted EBITDA decreased $50 million sequentially to $25 million, or 6.4 percent of sales.

New orders booked during the quarter totaled $300 million, representing a book-to-bill of 190 percent when compared to the $158 million of orders shipped from backlog. As of September 30, 2021, backlog for capital equipment orders for Rig Technologies was $2.78 billion.

Corporate Information

During the third quarter, the Company recognized $24 million of Other Items due to restructuring costs, net of related credits, and an accrual for a post-warranty product modification. See reconciliation of Adjusted EBITDA to Net Income.

As of September 30, 2021, the Company had total debt of $1.70 billion, with $2.00 billion available on its primary revolving credit facility, and $1.67 billion in cash and cash equivalents.

Significant Achievements

NOV received an award from Cadeler A/S to design and equip two GustoMSC™ NG-20000X self-propelled wind turbine installation jackup vessels. Each vessel will have 5,600 m² of deck space, an industry-leading carrying capacity of more than 17,600 tons and the ability to transport and install multiple sets of 15- to 20-plus MW turbines. The jacking systems will incorporate NOV’s proprietary advanced regenerative power system technology that enables significant fuel savings and reduced emissions. In parallel, NOV will upgrade Cadeler’s existing O-Class vessels with new heavy-lift cranes to handle the next generation of wind turbines.

NOV secured a front-end engineering design (FEED) study to decarbonize a floating production storage and offloading (FPSO) vessel operating offshore Malaysia. The FEED study was awarded based on NOV’s global process engineering and gas treatment expertise, which allows the Company to engineer, design, and fully execute built-for-purpose carbon capture systems for many industry applications.

NOV secured an order for a 20,000-psi (20K) blowout preventer (BOP) stack for a new development project in the Gulf of Mexico. This is the third order NOV has received for a 20K subsea BOP stack, solidifying the Company’s position as the engineering expert and supplier of choice for leading-edge safety technology and equipment. In addition, NOV won a contract to supply Viper™ large-diameter casing for the same project. Viper’s exceptional sealing properties and fatigue performance make it the ideal choice for the extreme demands of the deepwater market.

NOV gained additional recognition for its leading ESG practices when the Saudi Authority for Industrial Cities and Technology Zones (MODON) selected the company’s Fiber Glass Systems facility in Dammam, Saudi Arabia, as a benchmark facility for safety and environmental practices among all local facilities. At the request of the MODON authority, NOV hosted teams from 12 companies with neighboring facilities in the zone to share best practices, ranging from safety protocols, environmental safeguards, and employee engagement.

NOV’s technologies continued supporting efforts to decarbonize the energy industry and new industry verticals that are aligned with addressing key societal needs. During the quarter, NOV provided a major pharmaceutical company with turbine agitators and mixers that will be used to manufacture a new pill to treat COVID-19. The operation also provided an integrated package of pumps, mixers and screens used to process and treat cooling water at a nuclear power facility in the U.K., as well as a large mixer used in the mining of rare earth minerals in California.

NOV’s condition-based monitoring (CBM) systems continue to gain broader market adoption with a large drilling contractor entrusting the maintenance of all its subsea assets to the business. Our CBM systems drive savings and efficiencies for our customers by optimizing maintenance, maximizing equipment availability, and reducing total cost of ownership. The tangible value of NOV’s CBM program was demonstrated during the quarter when an impending bearing failure signature was detected on a customer’s draw-works motor, a potential cliff event that would have resulted in significant downtime and, potentially, critical safety issues. The early detection allowed for the part to be replaced with minimal operation impact, resulting in improved economics for both the operator and our drilling contractor customer.

NOV was awarded a large gas dehydration system for the Berri field in Saudi Arabia, reinforcing NOV’s position as a leading process systems technology company. Tying into NOV’s focus on marrying local content and execution with best-in-class process technology, the project will rely on in-country fabrication and reaffirms NOV’s position as a strategic partner of Saudi Aramco as it pursues its objective of increasing natural gas production in the Kingdom.

Combining multiple leading-edge NOV drilling technologies in bottom hole assemblies (BHAs) resulted in meaningful operational improvements for customers around the globe. In Colombia, NOV’s Agitator™ system, enhanced with a new Remote Shock Tool, reduced frictional losses and cut drilling time by delivering a field record rate of penetration (ROP) of 201 ft/hr. The customer reached total depth in 1.4 drilling days—faster than the best offset well thanks to 39% faster sliding ROP and 23% faster rotating ROP. In Siberia, NOV Vector™ impulse motors combined with an Agitator system set the field ROP record of 177 ft/hr, a 45% improvement compared to offset wells.

NOV’s SelectShift™ downhole adjustable motor with Impulse technology enabled a major operator in the Northeast U.S. to drill its fastest well to date and was consistently used in the challenging vertical section of 12 wells for the same customer. The two bend settings of the SelectShift enabled optimized drilling parameters through the different formations of the vertical well sections, driving significant savings and efficiencies through reduced bottom-hole assembly trips, improved bit life, and enhanced rate of penetration. On average, SelectShift Impulse technology reduced total section drill times by 30% and is establishing itself as an essential technology for the harsh drilling conditions of the Northeastern U.S.

NOV was awarded a three-year Wired Drill Pipe Optimization project with a major operator in the North Sea. The enhanced downhole transparency provided by the instantaneous and bi-directional transmission of downhole data made possible by wired drill pipe, combined with our latest downhole drilling tool technology, drove a significant improvement in overall well performance for the same operator on a previous contract. With this follow-on contract, NOV will look to provide similar operational enhancements on a greater percentage of this customer’s operations and continue to drive improved customer economic returns.

NOV commenced operations of a quayside thermal desorption treatment facility in Georgetown, Guyana. This marks the beginning of a 10-year project with a major operator to treat drilling fluid waste coming from multiple drillships. NOV’s Hot Oil Thermal Desorption Unit (HTDU) was chosen for its reliability and steady production capability. The HTDU will treat synthetic oil-based mud waste from offshore installations and onshore mud plants, providing a more sustainable solution that reuses mud streams and meaningfully reduces the environmental impact of disposal.

Third Quarter Earnings Conference Call

NOV will hold a conference call to discuss its third quarter 2021 results on October 27, 2021 at 10:00 AM Central Time (11:00 AM Eastern Time). The call will be broadcast simultaneously at www.nov.com/investors. A replay will be available on the website for 30 days.

About NOV

NOV (NYSE: NOV) delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.

Visit www.nov.com for more information.

Cautionary Statement for the Purpose of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995

Statements made in this press release that are forward-looking in nature are intended to be “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. These statements may differ materially from the actual future events or results. Readers are referred to documents filed by NOV with the Securities and Exchange Commission, including the Annual Report on Form 10-K, which identify significant risk factors which could cause actual results to differ from those contained in the forward-looking statements.

Certain prior period amounts have been reclassified in this press release to be consistent with current period presentation.

Blake McCarthy
Vice President, Corporate Development and Investor Relations
(713) 815-3535
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HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded a two-year contract with Esso Exploration Angola, an affiliate of ExxonMobil, offshore Angola for drillship VALARIS DS-9. The rig is currently preservation stacked in the Canary Islands, where it will be reactivated and then mobilized to Angola ahead of the anticipated contract commencement in June 2022.

About Valaris Limited

Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.

Cautionary Statements

Statements contained in this press release that are not historical facts are 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. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," “should,” “will” and similar words. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the Company’s liquidity and ability to access financing sources, debt restrictions that may limit our liquidity and flexibility, the COVID-19 outbreak and global pandemic, the related public health measures implemented by governments worldwide, the volatility in oil prices caused in part by the COVID-19 pandemic and the decisions by certain oil producers to reduce export prices and increase oil production, and cancellation, suspension, renegotiation or termination of drilling contracts and programs. In particular, the unprecedented nature of the current economic downturn, pandemic, and industry decline may make it particularly difficult to identify risks or predict the degree to which identified risks will impact the Company’s business and financial condition. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10- Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.

Investor & Media Contact:
Tim Richardson
Director - Investor Relations
+1-713-979-4619

Microsoft outlines net zero action plan to help UK leaders hit Government 2050 target

• 74% of UK organisations currently have "one foot in and one foot out" on sustainability
• UK leaders report top three stumbling blocks to carbon reduction: Turning strategy into action; clear government guidance; in-house skills
• Just 17% of employees believe their workplace is as environmentally friendly as their own home
• UK leaders eye carbon measurement, machine learning and ‘digital twin’ technologies to accelerate journey to net zero

LONDON--(BUSINESS WIRE)--Just 41% of UK organisations are on track to meet the Government’s target for net zero carbon emissions by 2050, according to new research released today by Dr Chris Brauer, Goldsmiths, University of London in partnership with Microsoft.

The findings reveal strong ambition and strategic vision on sustainability within UK organisations, but most leaders are struggling to translate that intent into action, with almost three quarters (74%) described as having “one foot in and one foot out” on sustainability.

Based on online surveys of 1,707 UK business leaders and 2,153 employees, the research report includes insights from leading British organisations, as well as prominent sustainable business experts from across government, industry and academia.

The ambition-action gap has not gone unnoticed by UK workers. According to the survey, the majority (72%) of employees surveyed felt that environmental sustainability should be a top priority for businesses over the next five years, yet only 19% report that their employer implements their current sustainability plan efficiently. Tellingly, only 17% of employees believe their work premises are as environmentally friendly as their own home. This is important, as almost half (48%) of employees surveyed said the strength of a firms’ sustainability plan would impact where they choose to work.

The challenges for business and a blueprint for net zero

The report points to the most pressing sustainability challenges identified by UK leaders in meeting net zero goals and outlines a practical blueprint of short- and long-term actions to overcome them. When asked to identify their top three most pressing challenges in the next five to 10 years, the top challenges highlighted by organisations surveyed include:

• Actioning the strategy – Concerns about having a clear organisational sustainability strategy (43%)
• Guidance – 41% of respondents cited clear government guidance as a challenge, but the report points to the need for whole systems thinking, including collaboration between government, commerce, academia and NGOs to collectively address barriers to net zero
• Skills – Having in-house expertise and skills to support a sustainability strategy (40%)
• Financing – Having access to funding to implement their sustainability plan (36%)
• Getting the most out of technology –The availability of technology to support sustainability initiatives (33%)

The Sustainability Leaders

The research team developed a scorecard against which to benchmark UK organisations’ progress on environmental sustainability. Based on the results, organisations were categorised into one of three groups:

• Sustainability Leaders – just 11% of UK organisations – distinctive in their ability to unlock funding and develop technology to meet sustainability goals, with highly supportive leadership and strong stakeholder buy in. This group is on track to meet net zero targets.
• Aspirational – 74% of organisations – better at raising their ambitions and designing strategies for sustainability than executing them. They have the operational potential to reach net zero, but faster transformation is needed.
• Stragglers – only 15% of organisations – have embedded sustainability within their strategy but are currently making very slow progress on goals. This group are unlikely to reach net zero by 2050, unless ambition becomes genuine action.

One factor setting the Sustainability Leaders apart is their ability to harness the potential of technology to amplify and accelerate their net zero strategies. Three quarters of this group are investing in R&D for new technologies (76%), including tech to measure carbon emissions (76%), and many are also building the in-house skills needed to make the most of these technologies.

Technologies enabling sustainability

The report also explores the role of technology in the journey to net zero. Where the business case is proven to make a meaningful contribution to sustainability, organisations are investing in the greenest solutions. Examples include business productivity technologies (used by 89% of firms), collaboration technologies (70%), cloud technologies (69%) and carbon emissions measurement technologies (33%).

And there is appetite for increasingly sophisticated technology over the next five years to reduce carbon emissions. Business leaders will shift their focus to more intensive use of carbon emissions measurement technology (56%), Robotic Process Automation (RPA, 51%), machine learning (53%), and ‘digital twin’ technologies (55%) – a rapidly growing territory for digital simulation of business processes and strategies at scale without the real-world waste.

Clare Barclay, CEO of Microsoft UK, comments: “If the UK is to meet its net zero ambitions, public and private sectors need to join forces to define the meaning of real net zero, agree how to measure progress and build markets that can deliver a just, prosperous future for everyone.

“Technology will play a key role in addressing these challenges and it’s clear from our research that those organisations that have embedded technology in the heart of their strategies are the ones that have made the most significant progress against their sustainability goals. And whilst it is encouraging that so many of the organisations surveyed are taking the threat of climate change seriously, the time has come to move from ambition to action. We must work collectively to accelerate our journey to net zero.”

Dr Chris Brauer, Director of Innovation, Institute of Management Studies (IMS) at Goldsmiths, University of London, comments: “UK organisations have strong net zero ambitions. But to truly address the climate emergency before us, actions must speak louder than words. Today’s findings don’t just call for progress, they outline a practical short- and long-term blueprint to help organisations accelerate net zero progress. If organisations can prioritise areas such as cross-sector collaboration, stakeholder buy-in, in-house expertise and technology to track carbon reduction progress, the positive environmental impact could be seismic.”

Sam Kimmins, Head of RE100 at The Climate Group, adds, "These figures can and must increase, with large organisations using their scale and influence to lead the way. Companies need to really work with their suppliers to drive shared sustainability goals fast. If a large firm greens a supply chain that is also supplying 30 other companies, you get a positive multiplier effect.”

Please visit aka.ms/UKSustainability to download a copy of the report.

-Ends-

Notes to Editors

Microsoft is accelerating progress toward a more sustainable future by reducing its own environmental footprint, pledging to be carbon negative by 2030, accelerating research and advocating for policies that benefit the environment.

By 2050 the company will remove from the atmosphere all the carbon dioxide it has emitted (either directly or through electricity consumption) since being founded in 1975. It will also be zero waste and water positive by the end of this decade.

For more information on Microsoft’s sustainability initiatives please visit: https://www.microsoft.com/en-us/sustainability

About the research

The research was conducted in summer and autumn 2021 by Microsoft in partnership with Dr Chris Brauer, Director of Innovation, Goldsmiths, University of London leading a team of economists, data scientists, environmental scientists and social scientists. They used a mixed method approach to build a model, scorecard and blueprint for carbon reduction in UK businesses. This included:

• An in-depth literature review of academic, industry and media knowledge and data sources.
• Barometer surveys conducted by YouGov among 1,707 leaders that are senior decision makers and above and 2,153 adults that are full time employees. Fieldwork was undertaken between 30th July - 18th August 2021. The survey was carried out online.
• Using survey findings, the researchers developed a scorecard to differentiate companies and indicate how close they are to achieving their decarbonisation objectives. The criteria for this scorecard were grouped in two categories – sustainability and innovation – and enabled an in-depth sustainability mapping exercise, using the results of the survey, to place organisations on a scale between varying levels of adoption.
• To be able to extrapolate results from the scorecard to the economy, results were weighted by the share of organisations in the total economy, assuming a standard normal distribution of the population, and veracity of responses. The results are within statistical confidence and the numbers presented were rounded for simplicity.
• Qualitative exploration – interviews with a variety of academics, professionals and UK company case study leaders around both the research model and the findings of this project. Quotes were analysed and used as evidence to support hypotheses.

For more information, please contact:
Fergus Franklin
Assembly for Microsoft
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EVgo Continues Expansion in Colorado with Six New Fast Chargers in Partnership with Regency Centers, Colorado Energy Office, and General Motors

LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, announced today the opening of a new EV charging station comprised of six new EVgo public direct current fast chargers (DCFC) at Lloyd King Center, located at 6350 Sheridan Boulevard in Arvada, Colorado.

Today, there are 86 EVgo chargers in the state of Colorado, including 39 Level 2 and 47 DCFC chargers. Four of the new EVgo public fast chargers are high powered 350 kW, capable of delivering approximately 180 miles in 15 minutes and two of the new chargers are 100 kW, capable of delivering approximately 90 miles in 15 minutes.^* Through EVgo’s 100% renewable-powered network, the new fast chargers will provide zero emission charging to EV drivers and support Colorado’s Zero Emission Vehicle (ZEV) targets, reducing pollution and accelerating the transition to clean transportation. The state of Colorado has long been a leader in its commitment to EV adoption, establishing the Charge Ahead Colorado funding program in 2013, which encourages development of EV charging stations across the state.

“The Polis-Primavera administration is committed to doing our part to enhance clean air efforts and save drivers money by expanding EV adoption statewide,” said Lt. Governor Dianne Primavera. “EVgo’s new fast charging station at Lloyd King Center adds momentum behind expanding the state’s accessible EV charging infrastructure and will help accelerate the adoption of EVs statewide. As the proud driver of an EV, I know how frustrating it can be to need a charging station but be unable to find one; we are thrilled to bring greater charging accessibility to communities across our state.”

“EVgo is building fast charging stalls across the country, and we recognize that making Electric for All a reality takes great partners like the ones that made this new station in Arvada possible,” said Jonathan Levy, Chief Commercial Officer of EVgo. “Colorado is a critical and fast-growing market for electric vehicles, and EVgo is thrilled to keep expanding our network to help accelerate the transition to e-mobility and even cleaner Rocky Mountain air for all Coloradans.”

“Regency Centers is happy to provide EVgo fast chargers as an amenity to our tenants and their customers across 11 of our retail properties,” said Mark Peternell, VP of Sustainability at Regency Centers. “Regency Centers believes in being a good steward and leader in sustainability, and helping accelerate EV adoption through this partnership is another way for us to put words into practice.”

“The city of Arvada is thrilled to be a part of this collaboration between such great organizations. These new EV fast chargers will help further advance Colorado’s electrification and climate goals and expand valuable access to public charging for residents and travelers alike,” says Marc Williams, Mayor of Arvada.

“The opening of another EVgo charging station in Colorado builds upon GM and EVgo’s effort to accelerate charging infrastructure build out by adding more than 2,700 DC fast charging stations. Along with all the Ultium-ready chargers at EVgo stations, GM customers can leverage charging capabilities up to 350-kilowatts,” said Alex Keros, Lead Architect, EV Infrastructure at General Motors. “We are excited to partner with EVgo to expand charging access here in the Rocky Mountain State and across the country.”

"EVgo is a great partner for our Charge Ahead Colorado and EV Plazas programs," said Will Toor, Colorado Energy Office Executive Director. "Each of these sites represents progress toward our goal of a robust network of fast-charging infrastructure in the metro area and throughout the state---and also helps deliver on the Polis administration's commitment to taking bold action on climate and improving air quality."

The new EVgo chargers were unveiled today, October 26^th, as part of a ribbon cutting ceremony at Lloyd King Center, hosted by Dianne Primavera, Lieutenant Governor of Colorado, alongside Jonathan Levy, Chief Commercial Officer of EVgo, Alex Keros, Lead Architect, EV Infrastructure at General Motors , Mark Peternell, VP of Sustainability at Regency Centers, Marc Williams, Mayor of Arvada, Megan Gilman, Colorado PUC Commissioner, Will Toor, Executive Director of Colorado Energy Office and Adrienne Benavidez, Colorado State Representative.

* Actual charging speeds depend on the capability of the vehicle.

About EVgo

EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 68 metropolitan areas across 35 states and more than 300,000 customer accounts. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.

For Investors:
Ted Brooks, VP of Investor Relations
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310-954-2943

For Media:
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DENVER--(BUSINESS WIRE)--Liberty Oilfield Services Inc. (NYSE: LBRT; “Liberty” or the “Company”) announced today third quarter 2021 financial and operational results and acquisition of PropX.

Summary Results and Highlights

• Revenue of $654 million, representing a 12% sequential increase, and net loss¹ of $39 million, or $0.22 fully diluted loss per share for the quarter ended September 30, 2021
• Adjusted EBITDA² of $32 million
• Announced the acquisition of Proppant Express Investments, LLC (“PropX”), a provider of proppant delivery equipment, logistics and software solutions
• Executed multi-year arrangements to deploy Liberty’s digiFrac™ electric fleet in 2022
• Announced an amendment to its secured asset-based revolving credit facility (“ABL Facility”) that provides for a $100 million increase in aggregate commitment to $350 million and extends the maturity date until October 2026
• Achieved 24 hours of continuous plug and perforation pumping time on two occasions

“Liberty achieved solid momentum in the third quarter. Total revenues increased 12% sequentially as activity and service pricing rose during the period. The underlying growth was a testament to the Liberty team’s focus on customer engagement, service quality and technology. We were able to deliver strong growth while navigating integration activities, cost inflation and the disruptive impact of the pandemic on global supply chains and labor availability,” commented Chris Wright, Chief Executive Officer. “The third quarter benefited from service price increases, but Liberty was not immune to the serious supply chain issues the world faces today as faster cost increases more than offset higher prices during the period. Increased transportation costs and driver shortages, maintenance personnel and supply chain constraints and integration costs hurt margins in the period. For instance, we estimate that rapidly increasing logistics costs that were not passed through to customers in the quarter were approximately $12 million, and maintenance costs were $8 million higher than normal due to integration and Covid related disruptions. While we expect the supply chain, logistics and integration challenges to continue into the fourth quarter, we are actively working to moderate their effect on margins.”

“Activity and momentum are expected to continue to strengthen in the fourth quarter and into 2022 supported by strong industry fundamentals and demand for Liberty. Against this backdrop, Liberty is excited to announce the execution of the first two multi-year arrangements to deploy Liberty’s digiFrac electric fleets in 2022 with long-standing Liberty customers. The technical ingenuity and design of the first purpose-built electric frac fleet has been well-received by E&P operators and we are developing our multi-year deployment strategy in conjunction with our customer partners,” continued Mr. Wright.

PropX Acquisition

Liberty announced today it has acquired PropX for an aggregate purchase price of approximately $90.0 million, subject to normal closing adjustments, consisting of $13.5 million in cash and the equivalent of 5.8 million shares of Liberty’s common stock valued at $76.5 million based on a 30-day average closing share price of $13.08 on October 25, 2021.

Founded in 2016, PropX is a leading provider of last-mile proppant delivery solutions including proppant handling equipment and logistics software across North America. PropX offers innovative environmentally friendly technology with optimized dry and wet sand containers and wellsite proppant handling equipment that drive logistics efficiency and reduce noise and emissions. PropX wet sand handling technology is a key enabler of the next step of cost and emissions reductions in the proppant industry. PropX also offers customers the latest real-time logistics software, PropConnect, for sale or as hosted SaaS service. PropX will continue to sell and deliver these solutions industry-wide.

The transaction positions Liberty as an integrated provider of completion services with proppant, equipment, logistics and integrated software that will improve Liberty’s operational and logistics efficiency. We also expect the leading-edge wet sand handling technology to reduce the environmental impact and cost of completions for Liberty’s frac customers and the industry.

“We have a relentless focus on building value over the long term, and we are pleased to announce the acquisition of PropX, at a highly accretive valuation multiple. The addition of PropX integrates the latest proppant delivery technologies and software into our supply chain and brings advanced, ESG-friendly wet sand handling technology and expertise that we can bring to the whole industry. Together, we believe these solutions will reduce the environmental impact of last-mile delivery and lower our total delivered cost to our customers,” commented Mr. Wright. “This acquisition exemplifies our strategy of investing for the future and maintaining a clear focus on technology innovation, highly efficient operations and a strong balance sheet to deliver greater value for our shareholders through cycles.”

Outlook

During the third quarter, worldwide economic activity continued to grow, despite supply chain disruptions, materials shortages, labor scarcity, rising costs, and Covid-related uncertainty. The demand for energy continues to outpace the gradual return of supply, as evidenced by the energy crises in Europe and China and low inventories. Global oil and gas supply remains constrained by underinvestment in oil and gas production and associated infrastructure.

Tightness in global commodity markets is bolstering demand for frac services in support of energy consumption. Concurrently, there has been frac industry consolidation, equipment cannibalization and attrition. Customers are in search of modern, environmentally friendly solutions. The shift towards next generation equipment, leading edge engineering solutions and the digitalization of the oilfield is defining the next phase of the cycle. Liberty is in a highly advantaged position with top tier technology innovation, engineering prowess, service quality, and ESG-friendly equipment.

“Today, we have a stronger, more flexible business with greater underlying efficiency resulting from the integration of OneStim®, the opportunistic acquisition of PropX, investment in digiFrac and digital software systems. Our entire team is focused on improving every aspect of our business to maintain and grow our competitive edge in this upcycle,” commented Mr. Wright. “Importantly, we believe the strong momentum will continue, with incremental service price increases that likely manifest more noticeably entering 2022. We are at the early innings of the cycle with the right technology, people, and commitment to excellence, and we believe our relentless focus on providing the best service to our customers sets up for a stronger 2022.”

Third Quarter Results

For the third quarter of 2021, revenue increased 12% to $654 million from $581 million in the second quarter of 2021.

Net loss before income taxes totaled $39 million for the third quarter of 2021 compared to net loss before income taxes of $36 million for the second quarter of 2021.

Net loss¹ (after taxes) totaled $39 million for the third quarter of 2021 compared to net loss¹ of $52 million in the second quarter of 2021. Net loss¹ (after tax) in the second quarter included the impacts of a valuation allowance recorded against a portion of the Company’s deferred tax assets and related remeasurement of the Company’s liability under the tax receivable agreement.

Adjusted EBITDA², decreased to $32 million from $37 million in the second quarter.

Fully diluted loss per share was $0.22 for the third quarter of 2021 compared to $0.29 for the second quarter of 2021.

Balance Sheet and Liquidity

As of September 30, 2021, Liberty had cash on hand of $35 million, an increase from second quarter levels as working capital increased, and total debt of $122 million, including $16 million drawn on the ABL credit facility, net of deferred financing costs and original issue discount. The term loan requires only a 1% annual amortization of principal, paid quarterly. Recently, the term loan maturity date was extended by two years and no substantial payment is due until maturity in September 2024, subject to mandatory prepayments from excess cash flow. Total liquidity, including availability under the credit facility, was $268 million as of September 30, 2021.

In October, 2021, Liberty amended its secured asset-based revolving credit facility. The amendment extends the maturity date of the facility from September 2022 to October 2026 and provides for a $100 million increase in aggregated commitment to $350 million. Availability under the amended ABL Facility is subject to a borrowing base, supported by receivables and inventory. The ABL Facility has a $75 million uncommitted accordion feature which, subject to satisfaction of specific terms and conditions, would provide for increased availability under the credit facility.

Conference Call

Liberty will host a conference call to discuss the results at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on Wednesday, October 27, 2021. Presenting Liberty’s results will be Chris Wright, Chief Executive Officer, Ron Gusek, President, and Michael Stock, Chief Financial Officer.

Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers (412) 902-6704. Participants should ask to join the Liberty Oilfield Services call. A live webcast will be available at http://investors.libertyfrac.com. The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. The passcode for the replay is 10148935. The replay will be available until November 4, 2021.

About Liberty

Liberty is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it..

Non-GAAP Financial Measures

This earnings release includes unaudited non-GAAP financial and operational measures, including EBITDA, Adjusted EBITDA and Pre-Tax Return on Capital Employed. We believe that the presentation of these non-GAAP financial and operational measures provides useful information about our financial performance and results of operations. Non-GAAP financial and operational measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The presentation of non-GAAP financial and operational measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with U.S. GAAP. See the tables entitled Reconciliation and Calculation of Non-GAAP Financial and Operational Measures for a reconciliation or calculation of the non-GAAP financial or operational measures to the most directly comparable GAAP measure.

Forward-Looking and Cautionary Statements

The information above includes “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. All statements, other than statements of historical facts, included herein concerning, among other things, the deployment of fleets in the future, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, return of capital to stockholders, business strategy and objectives for future operations, are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “outlook,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “likely,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. These forward-looking statements represent our expectations or beliefs concerning future events, and it is possible that the results described in this earnings release will not be achieved. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in Liberty's filings with the Securities and Exchange Commission. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for us to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in “Item 1A. Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the SEC on February 24, 2021 and in our other public filings with the SEC. These and other factors could cause our actual results to differ materially from those contained in any forward-looking statements.

Michael Stock
Chief Financial Officer
303-515-2851
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LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (Nasdaq: EVGO) (“EVgo” or the “Company”), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, today announced that Cathy Zoi, Chief Executive Officer at EVgo, will be participating in Roth Capital and NGO Sustainability Inc.’s Climate Tech webinar on October 27, 2021 from 9:30-11:30a ET. For those wishing to register to attend the webinar, the link can be found here: https://roth.zoom.us/webinar/register/1416329494079/WN_s1EAktzjSb6OgAPtYAkybw.

The webinar, Looking Towards Glasgow - Transitioning from a Fossil Fuel to a Renewable Energy Society comes ahead of the Glasgow meetings taking place from November 1-12, 2021, which will discuss the report of the International Panel on Climate Change (IPCC). COP26, as this meeting is called, will be working to enhance global cooperation and collaboration to increase the commitments of the 193 signatories to the Paris Climate Change Agreement, December 2015, to further reduce their carbon footprints. The main goals are to secure global net zero carbon by midcentury and keep 1.5-degree temperature rise within reach, adaptation to protect communities and natural habitats, mobilization of finance to help developing countries, and to work together to these ends. It is foreseen that COP26 will emphasize the necessity of dealing with the climate crisis through collaboration by governments, businesses, and civil society.

About EVgo

EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 68 metropolitan areas across 35 states and more than 300,000 customers. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.

For Investors:
Ted Brooks, VP of Investor Relations
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310-954-2943

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New Garmin marine radomes are first to offer both black and white color options

OLATHE, Kan.--(BUSINESS WIRE)--Garmin^® International, Inc., a unit of Garmin Ltd. (NASDAQ:GRMN), the world’s largest¹ and most innovative marine electronics manufacturer, today announced the GMR Fantom™ 18x and GMR Fantom 24x solid state dome radars, offering 50 watts of output power for long range and better target detection on the water, even at high speeds. Equipped with Garmin’s signature MotionScope^™ technology, the new high-powered Fantom 18x/24x radomes can detect and highlight moving targets in different colors, providing mariners with valuable vessel position information, track weather and more.

“When visibility is low and situational awareness is crucial, you need a radar you can depend on. More power means you’ll get more consistent target positioning, excellent target separation and unprecedented close- and long-range target detection for a clear, concise view of what’s ahead right on your Garmin chartplotter,” said Dan Bartel, Garmin vice president of global consumer sales. “And for the first time in the industry, we’re thrilled to offer this new radome series in black or white, making it easier than ever for users to customize their radar to their vessel.”

High-powered radar with new power saving settings

With 50 watts of peak output power – double the competition of other solid state dome radars on the market today – the new Fantom 18x/24x radomes offer a range from 20’ to 48 nautical miles and improved target detection, even in fog or rain. Plus, they deliver up to 60 RPM rotation speed for a refresh rate that can better detect movement, including boats approaching at high speeds. Thanks to the new power save mode, users can choose when to use full power and when to pull back, conserving power when they don’t need it so that they’ll have more when they do. Additionally, timed transmit mode lets users specify active and inactive times down to the second to help reduce power consumption so they can stay on the water longer than ever before.

Incredible detail and Increased situational awareness

In addition to an increased power output, the new Fantom 18x/24x radomes offer a number of features to help increase situational awareness on the water, including:

• MotionScope technology – uses the Doppler effect to detect moving targets and highlight them in different colors so users can navigate around other boats or severe weather, or toward fishing spots where birds feed at the surface
• True echo trails – see a historical “train” on the screen to more easily identify moving targets and potential collision threats
• Dual range– all Fantom radars offer a dual range feature so users have the ability to see both close- and long-range views simultaneously, with an overlay on a chart for one or both ranges, eliminating the need to toggle between views
• Dual radar support – display units can pull data from one of two different radar sources to provide redundancy
• Dynamic auto gain – this feature automatically adjusts to the user’s surroundings for optimal performance in all conditions
• Dynamic sea filter – the gain automatically adjusts sea clutter for calm, medium and rough sea conditions
• Radar overlay – users can easily overlay radar images on the chartplotter’s map page

The new 18” GMR Fantom 18x and 24” GMR Fantom 24x will be offered with both a white and black color option and are expected to be available in December 2021 with suggested retail prices ranging from $2199.99 to $3099.99. For more information, please visit garmin.com/marine.

Engineered on the inside for life on the outside, Garmin products have revolutionized life for anglers, sailors, mariners and boat enthusiasts everywhere. Committed to developing the most sophisticated marine electronics the industry has ever known, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For the seventh consecutive year, Garmin was recently named the Manufacturer of the Year by the National Marine Electronics Association (NMEA). Other Garmin marine brands include Navionics^® and Fusion^®. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, email the Media Relations department at This email address is being protected from spambots. You need JavaScript enabled to view it., or follow us at facebook.com/garmin, twitter.com/garminnews, instagram.com/garmin and linkedin.com/company/garmin.

¹ Based on 2020 reported sales

About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (Nasdaq: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, GPSMAP, Navionics and Fusion are registered trademarks and MotionScope and Fantom are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on Forward-Looking Statements:

This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 26, 2020, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at www.garmin.com/en-US/company/investors/earnings/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Carly Hysell
913-397-8200
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HOUSTON--(BUSINESS WIRE)--Sunnova Energy International Inc. ("Sunnova") (NYSE: NOVA), one of the leading U.S. residential solar and storage service providers, has partnered with ChargePoint, Inc., a leading electric vehicle (EV) charging network operating in North America and Europe, to offer Sunnova customers EV charging solutions.

“Sunnova partnered with ChargePoint to help streamline and accelerate growth in consumer EV adoption. EVs in the home increase annual energy demand from 50% to 100%, depending on the owners charging behavior. By bundling a solar system and an EV charger in a single purchase, Sunnova is allowing customers to properly size and install the right energy solution for all their needs,” said Michael Grasso, Executive Vice President, Chief Marketing and Growth Officer at Sunnova. “And with ChargePoint software embedded in their personal Sunnova portal, customers will benefit from car charging optimized for their Sunnova home energy ecosystem.”

As car manufacturers increase EV offerings across multiple segments, consumers have responded with increasing adoption. There are already more EVs on the road than ever before, in the first half of 2021 the EV growth rate in the U.S. was 166%¹ and according to the U.S. Department of Energy, 80% of all EV charging is done at home.

“Our offerings for the Sunnova Adaptive Home are carefully developed for our customers’ needs – we select the most innovative technologies available in the market and curate them for seamless integration,” said Shankar Achanta, Senior Director of Adaptive Homes at Sunnova. “This new EV charging bundle gives homeowners the ability to power their vehicles with the clean energy produced right from their rooftops.”

“Home EV charging is a significant part of the home energy picture. The ChargePoint partnership with Sunnova will provide connected home EV charging insights that are integrated with residential solar and storage for a complete picture of residential energy consumption,” said Bill Loewenthal, Senior Vice President, Product at ChargePoint. “ChargePoint Home Flex provides an unmatched combination of power and flexibility, smart connected features, and a thoughtful, safe and reliable design. With enhanced functionality in the home and driver ecosystems, ChargePoint is delivering technology solutions to fit the needs of EV drivers now and in the future through industry leading partnerships.”

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “going to,” “could,” “intend,” “target,” “project,” “contemplates,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern Sunnova’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding the impact of the partnership on customers and other statements regarding the future. Sunnova’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to forecast our business due to our limited operating history, the effects of the coronavirus pandemic on our business and operations, results of operations and financial position, our competition, changes in regulations applicable to our business, fluctuations in the solar and home-building markets, availability of capital, supply chain uncertainty, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Sunnova’s filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2020 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2021. The forward-looking statements in this press release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.

About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is a leading residential solar and energy storage service provider with customers across the U.S. and its territories. Sunnova's goal is to be the source of clean, affordable and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted®.
For more information, please visit sunnova.com

About ChargePoint
ChargePoint, Inc., is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions available today. ChargePoint’s cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. To date, more than 92 million charging sessions have been delivered, with drivers plugging into the ChargePoint network every two seconds or less. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact ChargePoint’s North American or European press offices or Investor Relations.

¹ https://www.ev-volumes.com/

Media Contact
Alina Eprimian
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Investor & Analyst Contact
Rodney McMahan
Vice President, Investor Relations
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281.971.3323

~Fourth Quarter Revenue Increases 16% to $462 Million~

~Achieves Highest Quarterly Gross Margin in Company’s History~

~Record Fourth Quarter Earnings Per Share of $1.45~

~Record Fiscal 2021 Revenue Surpasses $2 Billion; Over 13% Same-Store Sales Growth~

~Earnings Per Share of $6.78; Surpasses High End of Guidance Range for 2021~

~Company Provides Annual Guidance for Fiscal 2022~

CLEARWATER, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, today announced record results for its fourth quarter and full year ended September 30, 2021.

Revenue grew 16% to a record $462.3 million for the quarter ended September 30, 2021, from $398.8 million for the comparable quarter last year. The growth was driven primarily by successful strategic acquisitions completed during the fiscal year. Same-store sales for the quarter declined 7%, due to supply constrained inventory, but was up against 33% growth in the comparable period last year.

Net income for the quarter ended September 30, 2021, was $32.8 million, or $1.45 per diluted share, compared to $25.6 million, or $1.13 per diluted share in the comparable period prior year. Included in the quarter ended September 30, 2020, were net charges of $1.5 million or $0.06 per diluted share, related primarily to costs associated with the Company’s store optimization plan. Excluding the charges in 2020, adjusted diluted earnings per share for the quarter ended September 30, 2020, was $1.19.

For the fiscal year ended September 30, 2021, revenue increased 37% to $2.06 billion compared with $1.51 billion for the same period last year. The revenue increase was driven primarily by successful strategic acquisitions completed during the fiscal year and by strong same-store sales growth of over 13% which was on top of a 25% increase in the prior fiscal year.

Net income for the fiscal year ended September 30, 2021, was $155.0 million, or $6.78 per diluted share, compared to net income of $74.6 million, or $3.37 per diluted share in the prior year. The year ended September 30, 2020, included net charges of $1.3 million or $0.05 per diluted share as outlined above. Excluding the charges in 2020, adjusted diluted earnings per share was $3.42 in the prior year.

W. Brett McGill, Chief Executive Officer and President stated, “The MarineMax Team’s commitment and extraordinary efforts generated record revenue of more than $2 billion, our highest gross margin since inception and a near doubling of earnings per share. Perhaps most notable is that these results were delivered while providing world class customer service as evidenced by record high customer satisfaction scores. We are very proud of these outstanding achievements and believe this further demonstrates the scale and flexibility of our business model that is benefiting from investments in technology, growth in our asset light and higher margin businesses, increased penetration of highly desired brands and our recent strategic acquisitions. The foundational shift of consumer’s renewed desire for the boating lifestyle, continues to build, as both demand and backlog remain very robust.”

Mr. McGill continued, “Our balance sheet is extremely well-capitalized, which was further strengthened by our record 2021 EBITDA of over $225 million. This financial flexibility allows us to continue to pursue strategic accretive acquisitions which will further diversify our business and support sustainable future earnings and cash flow growth. With our deep manufacturing relationships, brand strategy, consumer preference for the MarineMax lifestyle experience and industry leading capital structure, we have increased confidence that the market will begin to recognize the significant value that we have created and that we expect to build upon in the future.”

As of September 30, 2021, the Company’s liquidity exceeded $327 million, consisting of cash and cash equivalents along with availability under its credit facilities.

Fiscal 2022 Guidance

Based on current business conditions, retail trends and other factors, the Company currently expects earnings per diluted share to be in the range of $7.20 to $7.50 for fiscal 2022. This compares to diluted earnings per share of $6.78 in fiscal 2021. These expectations do not consider, or give effect for, material acquisitions that may be completed by the Company during fiscal 2022 or other unforeseen events, including changes in global economic conditions.

About MarineMax

MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 77 retail dealership locations, which includes 31 marinas or storage operations. Through Fraser Yachts and Northrop and Johnson, the Company also is the largest super-yacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufactures boats and yachts with sales through our select retail dealership locations and through independent dealers. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also operates Boatyard, a pioneering digital platform that enhances the boating experience. MarineMax is a New York Stock Exchange-listed company (NYSE: HZO). For more information, please visit www.marinemax.com.

Forward Looking Statement

Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the Company’s anticipated financial results for the fourth quarter and the fiscal year ended September 30, 2021; the Company's pursuit of strategic accretive acquisitions; the Company's diversification of its business, and its potential for sustainable future earnings and cash flow growth; the market's recognition of the significant value that the Company has created and expects to build upon in the future; and the Company's fiscal 2022 guidance. These statements are based on current expectations, forecasts, risks, uncertainties, and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions and uncertainties include the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company’s manufacturing partners, the performance and integration of the recently-acquired businesses, the impacts (direct and indirect) of COVID-19 on the Company’s business, the Company’s employees, the Company’s manufacturing partners, and the overall economy, general economic conditions, as well as those within the Company's industry, the level of consumer spending, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2020 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.