Earnings

Management said 72% of consolidated revenue in the first nine months of 2026 came from offshore and international activity, up from around 50% in 2023. Management said the shift inBusinessmix has positioned the company for long-term growth.

Strong originations drove a USD 1.1 billion sequential increase in net finance receivables and a USD 146 million increase in the CECL loan loss reserve, USD 85 million higher than in the third quarter of last year.

The net increase in netAssetsfrom operations was about USD 1.6 million, made up of net investment income of USD 4.9 million, net realized losses of USD 11.3 million and net unrealized appreciation of USD 7.9 million. Net realized losses outweighed unrealized appreciation, so the …

Non-GAAP operating earnings rose to USD 574 million, or USD 1.15 per share, from USD 565 million, or USD 1.13. For nine months, net income was USD 1,451 million, or USD 2.91 per share, and non-GAAP operating earnings were USD 1,777 million, or USD …

The GAAP pre-taxMarginwas 15.0%, versus 22.4% a year earlier, and the adjusted pre-tax margin was 19.8%, down 2.0 points from the second quarter and 1.4 points from a year earlier. Both GAAP and adjusted figures declined from the second quarter, with adjusted net revenues …

Adjusted EBITDA was USD 175 million, or 33.4% of net sales, up 20.4% in dollars. AdjustedDiluted Earnings per Sharewere USD 3.74 versus USD 2.84, using a 22.0% tax rate in the adjusted calculation.

Collaboration revenue reached an all-time high of USD 2.7 billion, including USD 2.6 billion from the company's share of collaboration profits. That share rose 77% on continued Dupixent sales growth and completion of the Sanofi development balance repayment in the second quarter, so the …