Piche Resources (PR2:AU) has announced $2million placement to advance Argentine exploration
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Here’s a quick recap of the crypto landscape for Wednesday (November 5) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ether price update
Bitcoin (BTC) was priced at US$103,902, a 3.3 percent increase in 24 hours and its highest valuation of the day. Bitcoin’s lowest valuation on Wednesday was US$102,377.
Bitcoin price performance, November 5, 2025.
Chart via TradingView.
Both Bitcoin and Ether (ETH) are showing signs of recovery after a volatile start to the week. Current price action is driven by derivatives liquidations, options settlement dynamics and sustained retail and institutional fear.
Ether ended the trading day at US$3,448.04, an increase of 7.5 percent over the last 24 hours. Its lowest valuation of the day was US$3,326.02. Like Bitcoin, Ether is attempting a rebound near a significant technical and psychological level, but uncertainty remains elevated. The Fear and Greed Index remains in “extreme fear” at 20, reflecting persistent nervousness after long-term holders and whales triggered mass liquidations.
“Market data and technical signals suggest Bitcoin may trade within a US$94,000–US$118,000 range in the near term. The lower bound represents a healthy retracement zone consistent with subdued ETF inflows, while the upper range reflects a measured recovery below the October high near US$125K. Ethereum is likely to move between US$3,000 and US$4,400, supported by Layer-2 expansion and renewed DeFi participation,’ she said via email.
“Overall, the market appears to be stabilizing in a more disciplined, data-driven manner, signaling that confidence is returning through structural resilience and steady capital reallocation.”
Meanwhile, Galaxy’s head of research, Alex Thorn, said that the investment company has lowered its 2025 Bitcoin price forecast from US$185,000 to US$120,000.
Altcoin price update
- Solana (SOL) was priced at US$162.69, up by 6.6 percent over the last 24 hours and at its highest valuation of the day. Its lowest was US$157.65.
- XRP was trading for US$2.37, up by 9.7 percent over the last 24 hours to its highest valuation of the day. Its lowest was US$2.25.
Crypto derivatives and market indicators
Over the past four hours, Bitcoin has seen liquidations totaling US$16.11 million, mostly in short positions, suggesting a short-covering rally and improving near-term sentiment. Futures open interest is fractionally down 0.15 percent to US$70.17 billion, indicating a minor position reduction after aggressive selling earlier in the week.
The funding rate is neutral at 0.001, signaling balanced sentiment between longs and shorts, while implied volatility remains elevated at 45.9 percent, pointing to continued market uncertainty.
Max pain for options expiry sits at US$104,000, a level that the Bitcoin price is approaching.
Meanwhile, US$27.84 million in Ether options positions, also primarily shorts, have been liquidated in the past four hours, contributing to the uptrend as risk reversals shift. Ether has seen a 1.51 percent increase in open interest to US$40.3 billion, and its funding rate is slightly negative at -0.001, strengthening the bullish undertone.
Bitcoin dominance stands at 57.21 percent.
Today’s crypto news to know
Ripple secures US$500 million boost at US$40 billion valuation
Ripple has raised US$500 million in a new funding round led by Fortress Investment Group and Citadel Securities, valuing the company at US$40 billion. The investment follows Ripple’s US$1 billion tender offer earlier this year at the same valuation, marking a continuation of investor confidence in the firm’s long-term outlook.
Ripple said the funds will strengthen its partnerships with financial institutions and expand its services across custody, stablecoin issuance and crypto treasury management. The company’s RLUSD stablecoin has gained traction for corporate payments amid clearer US regulations under the GENIUS Act. The funding also positions Ripple to deepen its role in global payments as more firms integrate stablecoins into settlement networks.
Canada announces plans to introduce stablecoin legislation
The Canadian government announced as part of its 2025 budget that it plans to introduce legislation regulating fiat-backed stablecoins. The legislation aims to provide a secure, stable framework encouraging the development of Canadian-dollar pegged stablecoins, modernizing payment systems and fostering digital innovation.
The new rules will require stablecoin issuers to maintain sufficient asset reserves to back their digital currencies, safeguard consumer interests and comply with national security standards to protect personal data.
The Bank of Canada will receive C$10 million over two years starting in the 2026 to 2027 period to oversee the new framework, with ongoing costs expected to be covered by stablecoin issuers.
Northern Data exits Bitcoin mining in US$200 million AI transition
Northern Data Group, Europe’s largest Bitcoin-mining company, is divesting its mining arm, Peak Mining, in a deal worth up to US$200 million as it pivots entirely toward artificial intelligence (AI) infrastructure. The transaction includes US$50 million in upfront cash and up to US$150 million in performance-based payments tied to future profits.
The move follows the Bitcoin halving this past April, which cut mining revenues in half and accelerated the firm’s strategic shift. The company plans to repurpose its mining facilities in Texas for high-performance AI workloads, which can yield up to 10 times more revenue per megawatt than Bitcoin mining.
The company already owns over 220,000 GPUs through prior acquisitions.
Balancer protocol suffers major exploit
The Balancer DeFi protocol suffered a major exploit on Tuesday (November 3), losing about US$128 million in assets from its V2 Composable Stable Pools due to a precision rounding error and access control flaws in its smart contracts.
According to a report released after the attack, the infiltrator manipulated swap calculations and batch swaps to drain liquidity across multiple blockchains, including Ether, Polygon, Arbitrum and others.
Balancer promptly paused affected pools, confirmed no impact on V3 or other versions, and is collaborating with forensic and security experts to trace and recover funds. So far, US$19.3 million worth of StakeWise osETH has been recovered. Balancer has offered a white hat bounty for full asset return within 48 hours and continues investigating.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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Fertilizer prices remained elevated in Q3 compared to both the first half of the year and the end of 2024.
Potash prices surged at the start of the year as the Trump administration threatened tariffs on Canada, the top supplier to US farmers. During the third quarter, prices were 20 percent higher than at the end of last year.
Meanwhile, phosphate prices continued to climb through Q3 on the back of supply shortages, spurred by export restrictions from top producer China. Prices were further influenced by US tariffs.
What happened to phosphate and potash prices in Q3?
According to data from the World Bank, the average quarterly phosphate price rose to US$770.60 per metric ton (MT), up from US$673.20 in Q2, and significantly higher than the annual average of US$563.70 in 2024.
On a monthly basis, phosphate climbed to US$736 in July, then climbed to a three year high of US$795.10 in August. Since then, the price has fallen to US$780.63 in September and US$754 in October.
The quarterly average for potash fell slightly in Q3 to US$352.20 per MT, down from US$359.20 the previous quarter, but remained higher than US$283.90 in the last quarter of 2024.
On a monthly basis, potash prices eased to US$362.50 in July, and continued to fall to US$356.50 in August. They sank further to US$352.50 in September and US$352 in October.
What factors impacted phosphate in Q3?
Phosphate prices have been primarily influenced over the last several years by export restrictions from China, which have declined to 6.6 million MT in 2024 from 9 million MT in 2021. The restrictions were put in place to protect the domestic supply, and while the hope was that they would eventually ease, that hasn’t happened.
“As expected, their exports started to arrive in July to September; however, the government had a self-imposed October 15 cutoff date for export submission. That date came and went without an extension, so now the belief is their flows will slow to a crawl very soon,” he said. The situation may face additional headwinds, as China has imposed more restrictions on key battery technologies and precursors for phosphate-based batteries. These restrictions will add to demand for ex-China supply as the agricultural sector competes with battery makers for a limited supply of phosphate.
Demand for phosphate is also high, particularly from India, which has been working to increase its stockpiles since the end of 2024, when they reached a low of 1.1 million MT. However, stockpiles had more than doubled to 2.4 million MT at the start of October, with imports climbing to 4 million MT during the April to September period.
Much of the demand has been covered by supply from Saudi Arabia and Morocco, which signed several offtake agreements with Indian importers in July. “They were a major driver of higher prices for much of 2025 as they played catch up on stockpiles, and have finally reached a comfortable number of tons, which has allowed them to slow their desperate pace. The slower demand pace has allowed the market time to breathe/correct lower,” Linville said.
For US-based farmers, supply isn’t the only issue.
On August 7, a host of new tariffs as high as 25 percent were applied to phosphate imports, including from Saudi Arabia, which accounted for 54.7 percent of imports during the first five months of the year. Although there were some concerns that higher prices could prompt farmers to rethink their strategy, Linville hasn’t seen that materialize either.
With reports that farm yields this year have been higher, it may prompt farmers who have been on the fence about a fall application of phosphate to reconsider, as a significant yield would indicate some phosphate soil depletion.
“While still spoty, we are continuing to hear reports that phosphate demand is better than expected,” he said.
However, Linville noted that a surge in last-minute demand it could make supplies tighter and limit the ability for phosphate to make it onto the fields.
What factors impacted potash in Q3?
Linville said potash news was quiet during the quarter, pointing to stable prices and a well-supplied market.
In July, BHP (ASX:BHP,NYSE:BHP,LSE:BHP) announced it was delaying the opening of its Jansen mine in Saskatchewan. It was initially slated to start production in 2026, but has instead moved its timeline back to 2027 and is also considering pushing the second phase to 2031, citing cost overruns that have ballooned to US$7 billion.
Although potash has so far escaped US tariffs, Linville noted some concern following Ontario’s anti-tariff ad, which ran in the US during the World Series. “We continue to hope/believe that potash will be left alone as part of the North America Trade agreement. Assuming potash is left alone, markets should continue as normal; however, if we start seeing barriers to entry, US farmers will likely bear the brunt of most/all of those tariffs,” he said
Potash and phosphate price forecast for 2025
While potash markets remain stable, phosphate markets are much more dynamic.
Unless there is a significant shift in China’s exports, supply should remain tight. In his most recent weekly update on November 5, Linville noted that the situation could become dire for US consumers before the end of the year.
“We continue to advise our people that if they decide they need phosphate after all, do not wait to lock it up. Days very well may matter. Heck, hours might matter. Supplies are tight and can ill-afford a sudden demand jump,” he wrote.
Additionally, markets are likely to become further strained in the years to come as limited supply meets increased demand from outside the agricultural sector.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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U.S.-based companies announced more than 153,000 job cuts in October, the research firm Challenger, Gray & Christmas reported Thursday.
“This is the highest total for October in over 20 years, and the highest total for a single month in the fourth quarter since 2008,’ the firm said in a news release.
From January through the end of October, employers have announced the elimination of nearly 1.1 million jobs. It’s the most Challenger has recorded since 2020, when the Covid-19 pandemic shut down the global economy.
“October’s pace of job cutting was much higher than average for the month,’ Andy Challenger, the firm’s chief revenue officer, said in a statement. The last time there was a higher October monthly total was in 2003.
“Some industries are correcting after the hiring boom of the pandemic, but this comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes,” he said.
On Wednesday, the private payroll processor ADP released its own October jobs data, showing that employers added just 42,000 jobs in the month.
The ADP report also flagged job losses in the leisure and hospitality sector as a potential sign of trouble ahead, given the industry’s acute sensitivity to consumer sentiment.
ADP’s chief economist called the losses in hospitality and leisure a ‘concerning trend.’
Both Challenger and ADP’s reports landed as major companies such as Amazon, IBM, UPS, Target, Microsoft, Paramount and General Motors announced plans to eliminate tens of thousands of jobs.
Despite the wave of downbeat economic news, the Trump administration continues to deliver an upbeat take on the current environment.
“Jobs are booming” and “inflation is falling,” Treasury Secretary Scott Bessent said Tuesday.
However, the most recent available data paints a different picture.
Inflation has also been on the rise. Prices as measured by the Consumer Price Index overall have risen every month since April.
A spokesperson for the Treasury Department did not immediately reply to a request for comment on the Challenger report.
Challenger’s report does not typically carry the same weight with economists and investors as federal jobs data, owing to its methodology.
To arrive at its figures, the firm compiles the number of job cuts companies have publicly announced. But employers may not ultimately carry out all the cuts they roll out.
Moreover, some of the job cuts that multinational companies announce could affect workers outside of the United States. Other headcount reductions could be achieved through attrition, rather than layoffs. The report also may not capture smaller layoffs over the long run.
But in the midst of a federal data blackout caused by the government shutdown, Challenger’s latest report is being read more closely than usual.
The federal government’s October jobs report that would traditionally be released Friday will not be published this week, due to the shutdown.
Other key data about the U.S. economy like GDP and an inflation indicator called PCE, closely watched by the Federal Reserve, has also been delayed.
Challenger equated the impact of AI on the current labor market to the rise of the internet in the early aughts. “Like in 2003, a disruptive technology is changing the landscape,” it said.
‘Technology continues to lead in private-sector job cuts as companies restructure amid AI integration, slower demand, and efficiency pressures,’ Challenger said.
But even firms that are not actively cutting jobs have warned that they do not plan to add to their headcount in the near term, with several pointing directly to AI’s impact on their personnel needs.
On Wednesday night, JPMorgan Chase CEO Jamie Dimon told CNN that headcount at his company would likely remain steady as the nation’s largest bank rolls out AI internally.
Goldman Sachs CEO David Solomon also recently told his employees that the firm would ‘constrain headcount growth through the end of the year,’ as it takes advantage of AI efficiencies, Bloomberg reported.
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Alvopetro Energy Ltd. (TSXV:ALV,OTC:ALVOF) (OTCQX: ALVOF) announces an operational update and financial results for the three and nine months ended September 30, 2025.
All references herein to $ refer to United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.
President & CEO, Corey C. Ruttan commented:
‘Our sales in Brazil in October averaged 2,766 boepd, a 34% increase from September. Our Western Canadian assets added an additional 157 bopd bringing our company average up to 2,923 boepd, a new record for Alvopetro. On our 100% owned Murucututu project in Brazil, our 183-D4 well achieved IP30 rates of 1,071 boepd, significantly above our pre-drill estimates. This result helps strengthen our longer-term growth plans in Brazil. Our success in Brazil is being complimented by our Western Canadian capital program and our recently expanded partnership covering virtually all of the Saskatchewan portion of the Mannville Stack Heavy Oil play fairway. We are in a strong position to continue our disciplined capital allocation model, balancing returns to stakeholders and investing in high rate of return growth opportunities in Brazil and the Western Canadian Sedimentary Basin.’
Operational Update
October Sales Volumes
|
Natural gas, NGLs and crude oil sales: |
October 2025 |
September 2025 |
Q3 |
|
Brazil: |
|||
|
Natural gas (Mcfpd), by field: |
|||
|
Caburé |
9,136 |
5,463 |
8,735 |
|
Murucututu |
6,115 |
5,812 |
3,558 |
|
Total natural gas (Mcfpd) |
15,251 |
11,275 |
12,293 |
|
NGLs (bopd) |
206 |
180 |
147 |
|
Oil (bopd)(1) |
18 |
9 |
9 |
|
Total (boepd) – Brazil |
2,766 |
2,069 |
2,205 |
|
Canada: |
|||
|
Oil (bopd) – Canada |
157 |
163 |
138 |
|
Total Company – boepd(2) |
2,923 |
2,232 |
2,343 |
|
(1) |
Oil sale volumes in Brazil relate to the Bom Lugar and Mãe da lua fields. Alvopetro has entered into an assignment agreement to dispose of the fields, the closing of which is subject to standard regulatory approvals, including approval of the ANP. |
|
(2) |
Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes. |
October sales volumes increased to 2,923 boepd, including 2,766 boepd from Brazil (with natural gas sales of 15.3 MMcfpd, associated natural gas liquids sales from condensate of 206 bopd, and oil sales of 18 bopd) and 157 bopd from oil sales in Canada, based on field estimates, setting a new record for sales volumes at Alvopetro. In Brazil, sales volumes increased 34% over September and 25% over Q3 2025 following Alvopetro and Bahiagas agreeing to a spot contract with discounted pricing for volumes above our firm contract reference volumes of 400 e3m3/d (14.1 MMcfpd).
Quarterly Natural Gas Pricing Update
As previously announced, effective November 1, 2025, our natural gas price under our long-term gas sales agreement was adjusted to BRL1.81/m3 and will apply to firm natural gas sales (up to 400,000 m3/d) from November 1, 2025 to January 31, 2026. Based on our average heat content to date and the October 31, 2025 BRL/USD exchange rate of 5.38, our expected realized price at the new contracted price is $10.15/Mcf, net of applicable sales taxes, a decrease of 8% from the Q3 2025 realized price of $11.04/Mcf due mainly to lower Henry Hub prices in the third quarter. Amounts ultimately received in equivalent USD will be impacted by exchange rates in effect during the period November 1, 2025 to January 31, 2026. Natural gas sales above 400,000 m3/d are currently being sold on a flexible basis under spot contracts at discounts to our firm contracted price.
Development Activities – Brazil
On our 100% owned Murucututu field, the 183-D4 well was completed in seven intervals in the third quarter. With this well on production from the field since late August, third quarter natural gas sales from Murucututu increased to 3.6 MMcfpd (+199% from Q2 2025) and October natural gas sales increased further to 6.1 MMcfpd.
Our joint development on the unitized area (‘the Unit’), which includes our Caburé field, continued in the third quarter and four wells (2.2 net) were drilled. Three of the wells have now been completed and brought on production. We are planning a sidetrack of the fourth well due to challenges encountered while executing the final phase of the well. The timing of drilling the fifth planned development well (0.6 net) is subject to the receipt of all necessary regulatory approvals.
Development Activities – Western Canada
In the third quarter, two additional wells were drilled (1.0 net to Alvopetro) and commenced production in September. As previously announced, we entered into an expanded area of mutual interest (‘Expanded AMI’) with our existing partner. Under the terms of the Expanded AMI, we have agreed to fund 100% of two earning wells to earn a 50% working interest in an additional 46.9 sections of land (15,010 net acres). The two earning wells are expected to commence drilling in late 2025. After drilling, Alvopetro will have a 50% interest in 74.4 sections of land (23,900 net acres).
Financial and Operating Highlights – Third Quarter of 2025
- Average daily sales in Q3 2025 were 2,343 boepd(1) (+11% from Q3 2024 and -4% from Q2 2025). In Brazil, daily sales averaged 2,205 boepd (+5% compared to Q3 2024 and -4% from Q2 2025) and in Canada, oil sales averaged 138 bopd in the quarter (consistent with Q2 2025).
- Our average realized natural gas price was $11.04/Mcf (+1% from Q3 2024 and +4% from Q2 2025). Our overall averaged realized sales price per boe was $65.76/boe (-1% from Q3 2024 and +4% from Q2 2025).
- Our natural gas, oil and condensate revenue increased to $14.2 million (+10% from Q3 2024 and +1% from Q2 2025). Compared to Q3 2024, the increase was driven by higher overall sales volumes, partially offset by lower realized prices. Compared to Q2 2025, the increase was as a result of higher realized prices, partially offset by lower sales volumes.
- Our operating netback(2) in the quarter was $55.90 per boe, a decrease of $3.29 per boe compared to Q3 2024 due mainly to addition of lower overall netbacks from Canadian operations. Compared to Q2 2025, our operating netback increased $1.18 per boe with higher realized prices, partially offset by higher royalties, production expenses and transportation expenses.
- We generated funds flows from operations(2) of $10.4 million ($0.28 per basic and per diluted share), increases of $0.6 million compared to Q3 2024 and $0.1 million compared to Q2 2025.
- We reported net income of $4.6 million ($0.12 per basic and diluted share), a decrease of $2.5 million compared to Q3 2024 due mainly to impairment losses and higher depletion and depreciation expenses recognized in Q3 2025, partially offset by higher revenues with increased sales volumes, and lower tax expenses.
- Capital expenditures totaled $11.2 million, including completion costs for the 183-D4 well on Alvopetro’s 100% Murucututu field, Alvopetro’s share of unit development costs on the Cabure field and Alvopetro’s share of costs to drill and equip an additional two wells (1.0 net) in Saskatchewan.
- Our working capital(2) surplus was $2.2 million as of September 30, 2025, decreasing $4.6 million from June 30, 2025.
|
(1) |
Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes. |
|
(2) |
See ‘Non-GAAP and Other Financial Measures‘ section within this news release. |
The following table provides a summary of Alvopetro’s financial and operating results for the periods noted. The consolidated financial statements with the Management’s Discussion and Analysis (‘MD&A’) are available on our website at www.alvopetro.com and will be available on the SEDAR+ website at www.sedarplus.ca.
|
As at and Three Months Ended September 30, |
As at and Nine Months Ended September 30, |
|||||
|
2025 |
2024 |
Change (%) |
2025 |
2024 |
Change (%) |
|
|
Financial |
||||||
|
($000s, except where noted) |
||||||
|
Natural gas, oil and condensate sales |
14,175 |
12,879 |
10 |
42,198 |
35,303 |
20 |
|
Net income |
4,613 |
7,152 |
(36) |
17,513 |
14,052 |
25 |
|
Per share – basic ($)(1) |
0.12 |
0.19 |
(37) |
0.47 |
0.38 |
24 |
|
Per share – diluted ($)(1) |
0.12 |
0.19 |
(37) |
0.46 |
0.37 |
24 |
|
Cash flows from operating activities |
12,153 |
10,714 |
13 |
31,443 |
27,787 |
13 |
|
Per share – basic ($)(1) |
0.33 |
0.29 |
14 |
0.84 |
0.75 |
12 |
|
Per share – diluted ($)(1) |
0.32 |
0.28 |
14 |
0.83 |
0.74 |
12 |
|
Funds flow from operations(2) |
10,448 |
9,886 |
6 |
30,036 |
26,309 |
14 |
|
Per share – basic ($)(1) |
0.28 |
0.27 |
4 |
0.81 |
0.71 |
14 |
|
Per share – diluted ($)(1) |
0.28 |
0.26 |
8 |
0.79 |
0.70 |
13 |
|
Dividends declared |
3,673 |
3,295 |
11 |
10,976 |
9,887 |
11 |
|
Per share(1) (2) |
0.10 |
0.09 |
11 |
0.30 |
0.27 |
11 |
|
Capital expenditures |
11,249 |
4,747 |
137 |
28,610 |
10,623 |
169 |
|
Cash and cash equivalents |
12,081 |
24,515 |
(51) |
12,081 |
24,515 |
(51) |
|
Net working capital(2) |
2,209 |
15,848 |
(86) |
2,209 |
15,848 |
(86) |
|
Weighted average shares outstanding |
||||||
|
Basic (000s)(1) |
37,263 |
37,300 |
– |
37,273 |
37,286 |
– |
|
Diluted (000s)(1) |
37,851 |
37,662 |
1 |
37,801 |
37,671 |
– |
|
Operations |
||||||
|
Average daily sales volumes(3): |
||||||
|
Brazil: |
||||||
|
Natural gas (Mcfpd), by field: |
||||||
|
Caburé (Mcfpd) |
8,735 |
11,378 |
(23) |
10,741 |
9,817 |
9 |
|
Murucututu (Mcfpd) |
3,558 |
616 |
478 |
2,286 |
490 |
367 |
|
Total natural gas (Mcfpd) |
12,293 |
11,994 |
2 |
13,027 |
10,307 |
26 |
|
NGLs – condensate (bopd) |
147 |
95 |
55 |
137 |
83 |
65 |
|
Oil (bopd) |
9 |
12 |
(25) |
8 |
12 |
(33) |
|
Total (boepd) – Brazil |
2,205 |
2,106 |
5 |
2,315 |
1,813 |
28 |
|
Canada: |
||||||
|
Oil (bopd) – Canada |
138 |
– |
– |
93 |
– |
– |
|
Total Company (boepd) |
2,343 |
2,106 |
11 |
2,408 |
1,813 |
33 |
|
As at and Three Months Ended September 30, |
As at and Three Months Ended September 30, |
|||||
|
2025 |
2024 |
Change (%) |
2025 |
2024 |
Change (%) |
|
|
Average realized prices(2): |
||||||
|
Natural gas ($/Mcf) |
11.04 |
10.92 |
1 |
10.69 |
11.70 |
(9) |
|
NGLs – condensate ($/bbl) |
74.16 |
86.70 |
(14) |
75.83 |
88.77 |
(15) |
|
Oil ($/bbl) |
50.42 |
68.36 |
(26) |
49.36 |
68.48 |
(28) |
|
Total ($/boe) |
65.76 |
66.46 |
(1) |
64.19 |
71.06 |
(10) |
|
Operating netback ($/boe)(2) |
||||||
|
Realized sales price |
65.76 |
66.46 |
(1) |
64.19 |
71.06 |
(10) |
|
Royalties |
(3.54) |
(1.89) |
87 |
(4.71) |
(1.94) |
143 |
|
Production expenses |
(6.10) |
(5.38) |
13 |
(5.58) |
(6.23) |
(10) |
|
Transportation expenses |
(0.22) |
– |
– |
(0.12) |
– |
– |
|
Operating netback |
55.90 |
59.19 |
(6) |
53.78 |
62.89 |
(14) |
|
Operating netback margin(2) |
85 % |
89 % |
(4) |
84 % |
89 % |
(6) |
|
Notes: |
|
|
(1) |
Per share amounts are based on weighted average shares outstanding other than dividends per share, which is based on the number of common shares outstanding at each dividend record date. The weighted average number of diluted common shares outstanding in the computation of funds flow from operations and cash flows from operating activities per share is the same as for net income per share. |
|
(2) |
See ‘Non-GAAP and Other Financial Measures’ section within this news release. |
|
(3) |
Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes. |
Q3 2025 Results Webcast
Alvopetro will host a live webcast to discuss our Q3 2025 financial results at 8:00 am Mountain time on Thursday November 6, 2025. Details for joining the event are as follows:
DATE: November 6, 2025
TIME: 8:00 AM Mountain/10:00 AM Eastern
LINK: https://us06web.zoom.us/j/87150507093
DIAL-IN NUMBERS: https://us06web.zoom.us/u/kdLidYPIoO
WEBINAR ID: 871 5050 7093
The webcast will include a question-and-answer period. Online participants will be able to ask questions through the Zoom portal. Dial-in participants can email questions directly to socialmedia@alvopetro.com.
Corporate Presentation
Alvopetro’s updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation.
Social Media
Follow Alvopetro on our social media channels at the following links:
X – https://x.com/AlvopetroEnergy
Instagram – https://www.instagram.com/alvopetro/
LinkedIn – https://www.linkedin.com/company/alvopetro-energy-ltd
Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro’s organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related strategic midstream infrastructure.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Abbreviations:
|
$000s |
= |
thousands of U.S. dollars |
|
boepd |
= |
barrels of oil equivalent (‘boe’) per day |
|
bopd |
= |
barrels of oil and/or natural gas liquids (condensate) per day |
|
BRL |
= |
Brazilian Real |
|
e3m3/d |
= |
thousand cubic metre per day |
|
m3 |
= |
cubic metre |
|
m3/d |
= |
cubic metre per day |
|
Mcf |
= |
thousand cubic feet |
|
Mcfpd |
= |
thousand cubic feet per day |
|
MMcf |
= |
million cubic feet |
|
MMcfpd |
= |
million cubic feet per day |
|
NGLs |
= |
natural gas liquids (condensate) |
|
Q1 2025 |
= |
three months ended March 31, 2025 |
|
Q3 2024 |
= |
three months ended September 30, 2024 |
|
Q2 2025 |
= |
three months ended June 30, 2025 |
|
Q3 2025 |
= |
three months ended September 30, 2025 |
|
USD |
= |
United States dollars |
|
GAAP or IFRS |
= |
IFRS Accounting Standards |
Non-GAAP and Other Financial Measures
This news release contains references to various non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures as such terms are defined in National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure. Such measures are not recognized measures under GAAP and do not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial measures disclosed by other issuers. While these measures may be common in the oil and gas industry, the Company’s use of these terms may not be comparable to similarly defined measures presented by other companies. The non-GAAP and other financial measures referred to in this report should not be considered an alternative to, or more meaningful than measures prescribed by IFRS and they are not meant to enhance the Company’s reported financial performance or position. These are complementary measures that are used by management in assessing the Company’s financial performance, efficiency and liquidity and they may be used by investors or other users of this document for the same purpose. Below is a description of the non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures used in this news release. For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the ‘Non-GAAP Measures and Other Financial Measures‘ section of the Company’s MD&A which may be accessed through the SEDAR+ website at www.sedarplus.ca.
Non-GAAP Financial Measures
Operating Netback
Operating netback is calculated as natural gas, oil and condensate revenues less royalties, production expenses, and transportation expenses. This calculation is provided in the ‘Operating Netback‘ section of the Company’s MD&A using our IFRS measures. The Company’s MD&A may be accessed through the SEDAR+ website at www.sedarplus.ca. Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations.
Non-GAAP Financial Ratios
Operating Netback per boe
Operating netback is calculated on a per unit basis, which is per barrel of oil equivalent (‘boe’). It is a common non-GAAP measure used in the oil and gas industry and management believes this measurement assists in evaluating the operating performance of the Company. It is a measure of the economic quality of the Company’s producing assets and is useful for evaluating variable costs as it provides a reliable measure regardless of fluctuations in production. Alvopetro calculated operating netback per boe as operating netback divided by total sales volumes (boe). This calculation is provided in note 3 of the interim condensed consolidated financial statements and in the ‘Operating Netback‘ section of the Company’s MD&A using our IFRS measures. The Company’s MD&A may be accessed through the SEDAR+ website at www.sedarplus.ca. Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations on a per boe basis.
Operating netback margin
Operating netback margin is calculated as operating netback per boe divided by the realized sales price per boe. Operating netback margin is a measure of the profitability per boe relative to natural gas, oil and condensate sales revenues per boe and is calculated as follows:
|
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Operating netback – $ per boe |
55.90 |
59.19 |
53.78 |
62.89 |
|
Average realized price – $ per boe |
65.76 |
66.46 |
64.19 |
71.06 |
|
Operating netback margin |
85 % |
89 % |
84 % |
89 % |
Funds Flow from Operations Per Share
Funds flow from operations per share is a non-GAAP ratio that includes all cash generated from operating activities and is calculated before changes in non-cash working capital, divided by the weighted average shares outstanding for the respective period. For the periods reported in this news release the cash flows from operating activities per share and funds flow from operations per share is as follows:
|
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||
|
$ per share |
2025 |
2024 |
2025 |
2024 |
|
Per basic share: |
||||
|
Cash flows from operating activities |
0.33 |
0.29 |
0.84 |
0.75 |
|
Funds flow from operations |
0.28 |
0.27 |
0.81 |
0.71 |
|
Per diluted share: |
||||
|
Cash flows from operating activities |
0.32 |
0.28 |
0.83 |
0.74 |
|
Funds flow from operations |
0.28 |
0.26 |
0.79 |
0.70 |
Capital Management Measures
Funds Flow from Operations
Funds flow from operations is a non-GAAP capital management measure that includes all cash generated from operating activities and is calculated before changes in non-cash working capital. The most comparable GAAP measure to funds flow from operations is cash flows from operating activities. Management considers funds flow from operations important as it helps evaluate financial performance and demonstrates the Company’s ability to generate sufficient cash to fund future growth opportunities. Funds flow from operations should not be considered an alternative to, or more meaningful than, cash flows from operating activities however management finds that the impact of working capital items on the cash flows reduces the comparability of the metric from period to period. A reconciliation of funds flow from operations to cash flows from operating activities is as follows:
|
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash flows from operating activities |
12,153 |
10,714 |
31,443 |
27,787 |
|
Changes in non-cash working capital |
(1,705) |
(828) |
(1,407) |
(1,478) |
|
Funds flow from operations |
10,448 |
9,886 |
30,036 |
26,309 |
Net Working Capital
Net working capital is computed as current assets less current liabilities. Net working capital is a measure of liquidity, is used to evaluate financial resources, and is calculated as follows:
|
As at September 30, |
|||
|
2025 |
2024 |
||
|
Total current assets |
18,582 |
30,197 |
|
|
Total current liabilities |
(16,373) |
(14,349) |
|
|
Net working capital |
2,209 |
15,848 |
|
Supplementary Financial Measures
‘Average realized natural gas price – $/Mcf‘ is comprised of natural gas sales as determined in accordance with IFRS, divided by the Company’s natural gas sales volumes.
‘Average realized NGL – condensate price – $/bbl‘ is comprised of condensate sales as determined in accordance with IFRS, divided by the Company’s NGL sales volumes from condensate.
‘Average realized oil price – $/bbl‘ is comprised of oil sales as determined in accordance with IFRS, divided by the Company’s oil sales volumes.
‘Average realized price – $/boe‘ is comprised of natural gas, condensate and oil sales as determined in accordance with IFRS, divided by the Company’s total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
‘Dividends per share‘ is comprised of dividends declared, as determined in accordance with IFRS, divided by the number of shares outstanding at the dividend record date.
‘Royalties per boe‘ is comprised of royalties, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
‘Production expenses per boe‘ is comprised of production expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
‘Transportation expenses per boe‘ is comprised of transportation expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
BOE Disclosure
The term barrels of oil equivalent (‘boe’) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6 Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.
Contracted Natural Gas Volumes
The 2025 contracted daily firm volumes under Alvopetro’s long-term gas sales agreement of 400 e3m3/d (before any provisions for take or pay allowances) represents contracted volumes based on contract referenced natural gas heating value. Alvopetro’s reported natural gas sales volumes are prior to any adjustments for heating value of Alvopetro natural gas. Alvopetro’s natural gas is approximately 7.8% higher than the contract reference heating value. Therefore, to satisfy the contractual firm deliveries Alvopetro would be required to deliver approximately 371e3m3/d (13.1MMcfpd).
Well Results
Data obtained from the 183-D4 well identified in this press release, including initial production rates, should be considered preliminary. There is no representation by Alvopetro that the data relating to the 183-D4 well contained in this press release is necessarily indicative of long-term performance or ultimate recovery. The reader is cautioned not to unduly rely on such data as such data may not be indicative of future performance of the well or of expected production or operational results for Alvopetro in the future.
Forward-Looking Statements and Cautionary Language
This news release contains forward-looking information within the meaning of applicable securities laws. The use of any of the words ‘will’, ‘expect’, ‘intend’, ‘plan’, ‘may’, ‘believe’, ‘estimate’, ‘forecast’, ‘anticipate’, ‘should’ and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking statements concerning the expected natural gas price, gas sales and gas deliveries under Alvopetro’s long-term gas sales agreement, future production and sales volumes, plans relating to the Company’s operational activities, proposed exploration and development activities and the timing for such activities, capital spending levels, future capital and operating costs, the timing and taxation of dividends and plans for dividends in the future, anticipated timing for upcoming drilling and testing of other wells, and projected financial results. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulations relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, the outcome of any disputes, the outcome of redeterminations, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, and the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although we believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with trade or tariff disputes, and general economic conditions. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our AIF which may be accessed on Alvopetro’s SEDAR+ profile at www.sedarplus.ca. The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
www.alvopetro.com
TSX-V: ALV, OTCQX: ALVOF
SOURCE Alvopetro Energy Ltd.
View original content: http://www.newswire.ca/en/releases/archive/November2025/05/c9260.html
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Altech Batteries (ATC:AU) has announced Altech – Service Data Confirms Exceptional Failure Rate
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Metals Australia (MLS:AU) has announced Drilling the Manindi Vanadium-Titanium-Magnetite Discovery
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Brien Lundin, editor of Gold Newsletter and New Orleans Investment Conference host, shares his outlook for gold and silver as prices continue to consolidate.
‘At the end of this cycle, I’ve long predicted that we’re going to get to a US$6,000 to US$8,000 (per ounce) price range, whenever that may happen — I hope it takes years from now,’ he said about gold.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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The global lithium market saw sharp swings in Q3 2025 as shifting supply dynamics, policy uncertainty, and geopolitical developments reshaped investor sentiment.
After hitting a four-year low in June, benchmark lithium carbonate prices briefly surged to an 11 month high in August on speculation of Australian supply cuts, before easing to US$11,185 per metric ton by quarter’s end.
Market watchers say sentiment-driven moves continue to dominate a sector still facing oversupply, while US policy shifts and China’s regulatory measures add further uncertainty to the outlook.
Against this backdrop, Canadian lithium stocks are gaining attention as investors look for companies positioned to benefit from long-term demand growth while navigating short-term price pressure.
1. Consolidated Lithium Metals (TSXV:CLM)
Year-to-date gain: 500 percent
Market cap: C$23.36 million
Share price: C$0.060
Consolidated Lithium Metals is a Canadian junior exploration company focused on acquiring, developing and advancing lithium projects in Québec. Its properties — Vallée, Baillargé, Preissac-LaCorne and Duval — are located within the spodumene-rich La Corne Batholith area, near the restarted North American Lithium mine, a key area in Canada’s growing lithium sector.
Consolidated Lithium started the year with a C$300 million private placement earmarked for working capital and general corporate purposes.
In July, the company commenced its 2025 summer exploration program at the Preissac project, excavating a 100-by-30-meter trench in an area with a known lithium soil anomaly, uncovering an 18-meter-wide pegmatite body at surface.
Twenty-five channel samples were collected and sent for analysis, while additional soil and biogeochemical sampling was conducted to further assess lithium-bearing pegmatites on site.
At the end of August, Consolidated Lithium signed a non-binding letter of intent with SOQUEM, a subsidiary of Investissement Québec, to acquire an option to earn up to an 80 percent interest in the Kwyjibo rare earth project.
The project is located roughly 125 kilometers northeast of Sept-Îles in Québec’s Côte-Nord region.
The acquisition news led to a share price spike for the company. While the company has made no recent announcements, an uptick in lithium prices in October helped Consolidated shares rally further to a year-to-date high of C$0.06 on October 22 and again on October 28.
2. Stria Lithium (TSXV:SRA)
Year-to-date gain: 416.67 percent
Market cap: C$12.22 million
Share price: C$0.31
Stria Lithium is a Canadian exploration company focused on developing domestic lithium resources to support the growing demand for electric vehicles and lithium-ion batteries.
The company’s flagship Central Pontax lithium project spans 36 square kilometers in Québec’s Eeyou Istchee James Bay region.
Cygnus Metals (TSXV:CYG) has an earn-in agreement with Stria to earn up to a 70 percent interest in the Pontax project. Cygnus completed the first stage in July 2023, acquiring a 51 percent interest by investing C$4 million in exploration and issuing over 9 million shares to Stria.
Through its joint venture with Cygnus, Stria has outlined a JORC-compliant maiden inferred resource of 10.1 million metric tons grading 1.04 percent Li2O.
At the start of 2025 Stria closed a non-brokered private placement for C$650,000. The funds will be used in part for the evaluation of new mineral opportunities, according to the company.
In May, Stria and Cygnus agreed to extend the second stage of Cygnus’s earn-in agreement on the Pontax lithium project by 24 months.
Shares of Stria registered a year-to-date high of C$0.38 on October 16, coinciding with rising lithium prices.
3. Lithium South Development (TSXV:LIS)
Year-to-date gain: 280 percent
Market cap: C$42.79 million
Share price: C$0.38
Canada-based Lithium South Development owns 100 percent of the HMN lithium project in Argentina’s Salta and Catamarca provinces, situated in the heart of the lithium-rich Hombre Muerto Salar. The project lies adjacent to active lithium operations, including Rio Tinto’s (ASX:RIO,NYSE:RIO,LSE:RIO) lithium operations to the south and South Korean company POSCO Holdings’ (NYSE:PKX,KRX:005490) billion-dollar lithium development to the east.
Exploration has defined a NI 43-101 compliant resource of 1.58 million metric tons of lithium carbonate equivalent (LCE) at an average grade of 736 milligrams per liter lithium, with the majority in the measured category.
A preliminary economic assessment outlines the potential for a 15,600 metric ton per year lithium carbonate operation, and the company is advancing the project toward a feasibility study.
In January 2024, Lithium South and POSCO signed an agreement to jointly develop the HMN lithium project. Under the deal, the companies will share production 50/50 from the Norma Edith and Viamonte blocks in Salta and Catamarca, resolving overlapping claims.
As for 2025, at the end of July, Lithium South received a non-binding cash offer of US$62 million from POSCO for HMN and all of Lithium South’s other concessions in the Hombre Muerto Salar.
The offer is subject to a 60 day due diligence period and a subsequent 60 day negotiation and execution phase for a definitive agreement, the company said. As of late September, the due diligence has largely been completed and the companies are negotiating the definitive agreement.
Company shares surged to C$0.41 in early August following the news. Shares rose to a year-to-date high of C$0.415 on October 24, likely in conjunction with lithium price positivity.
4. Standard Lithium (TSXV:SLI)
Year-to-date gain: 152.83 percent
Market cap: C$1.28 billion
Share price: C$5.36
Standard Lithium is a US-focused lithium development company advancing a portfolio of high-grade lithium-brine projects with an emphasis on sustainability and commercial-scale production.
The company employs a fully integrated direct lithium extraction process and is developing its flagship Smackover Formation assets in Arkansas and Texas, including the South West Arkansas project in partnership with Equinor ASA, under the joint venture subsidiary Smackover Lithium.
Standard is also actively exploring additional lithium brine opportunities in East Texas.
In April, the South West Arkansas project was one of 10 US critical minerals projects designated for fast-tracking under FAST-41.
According to Standard’s Q2 2025 results released in August, Smackover Lithium reported strong progress on its South West Arkansas project during the quarter.
Exploration for the project’s Phase 1 operations concluded, and the Lester exploration well yielded the highest lithium brine grades to date, averaging 582 milligrams per liter and peaking at 616 milligrams per liter. Key regulatory milestones included the Arkansas Oil and Gas Commission approving a 2.5 percent royalty rate and granting brine production unit approval for Phase 1.
Additionally, through a partnership with Telescope Innovations the company advanced a new process to convert lithium hydroxide into battery-grade lithium sulfide.
In September, Standard Lithium reported results of its definitive feasibility study (DFS) for the South West Arkansas project with a targeted first production date in 2028.
The DFS notes an initial capacity of 22,500 metric tons per year of battery-grade lithium carbonate. The study outlines a 20-year-plus operating life based on average lithium concentrations of 481 milligrams per liter, supported by detailed resource and reserve modeling.
The company officially filed the DFS on October 14, leading to a share price bump and year-to-date high of C$7.65 on October 16.
5. United Lithium (CSE:ULTH)
Year-to-date gains: 94.12 percent
Market cap: C$15.75 million
Share price: C$0.33
Exploration and development company United Lithium owns a portfolio of global assets in Sweden, Finland and the United States. The company’s primary focus is the Bergby lithium project in Central Sweden.
In March, United Lithium reported positive results from mineralogical test work on four pegmatite samples — B, C, D and E — at the Bergby project. The study analyzed the chemical and mineralogical composition of the samples to better understand the lithium-bearing LCT (lithium, cesium, tantalum) pegmatites.
An October 17 announcement from United reported it entered a binding letter of intent to acquire all issued and outstanding shares of Swedish Minerals. If the deal goes through, it will create a Nordic-based company with lithium, uranium and rare earth projects.
Under the agreement, United Lithium will issue Swedish Minerals shareholders 25 million common shares of United at C$0.20 each and pay C$450,000 in cash, subject to regulatory approval.
Shares of United Lithium spiked following the acquisition news and continued upward to a year-to-date high of C$0.35 on October 27.
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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Yum Brands said on Tuesday it was exploring strategic options for its Pizza Hut chain as the unit struggles to keep pace in a highly competitive fast-food industry vying for sales from a stressed consumer.
“Pizza Hut‘s performance indicates the need to take additional action to help the brand realize its full value, which may be better executed outside of Yum Brands,” Yum Brands’ new CEO, Chris Turner, said in a statement.
Pizza Hut‘s sales have lagged Yum Brands’ other prominent units, Taco Bell and KFC International, falling for seven consecutive quarters. In comparison, Taco Bell last reported negative comparable sales in June 2020.
Yum Brands’ shares were up about 2% in premarket trading after the company banked on 7% growth in Taco Bell U.S. same-store sales and 3% growth in KFC International to beat third quarter estimates.
Pizza Hut accounts for about 11% of Yum Brands’ operating profits, compared with about 38% for Taco Bell’s U.S. business.
Several quarters of price hikes at restaurants, sticky inflation and economic uncertainty have forced consumers to become more wary about dining out as they look to stretch their budgets. Still, pizzas are viewed as a value-option to feed families.
Industry giant Domino’s Pizza DPZ.O said in October that although fast-food traffic was slowing, consumers were still seeking out its pizzas, helped by promotions and new menu items, as well as its delivery partnerships with third-party aggregators such as Doordash DASH.O and UberEats UBER.N.
While Pizza Hut has also offered value deals such as various personal pizzas for $5 and $2, “an insufficient value message amid a competitive value landscape resulted in transaction softness,” company veteran and former CEO David Gibbs said in August.
Taco Bell’s Tex-Mex cuisine and its more affordable prices have held Yum Brands in good stead against the slowdown in dining out.
Yum Brands’ worldwide same-store sales grew 3% during the quarter ended September 30, 2025 edging past estimates of a 2.68% increase, according to data compiled by LSEG.
Adjusted profit per share of $1.58 beat estimates of $1.49.
Packaged food giant PepsiCo acquired Pizza Hut in 1977, but spun off the chain along with KFC and Taco Bell in 1997 to create a restaurants company, which took on the name Yum Brands in 2002.
A deadline to complete Pizza Hut‘s strategic review has not been set, and there was no assurance that the process would result in a transaction, Yum Brands said on Friday.
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