The roller-coaster ride of Redwire Corp.’s stock this year took a plunge Aug. 7 after the Jacksonville-based space technology company reported disappointing second-quarter results.
Redwire’s stock was rising in late 2024 and early 2025 on optimism about the Trump administration’s interest in space investment.
The stock jumped further after Redwire announced a major acquisition of uncrewed airborne system company Edge Autonomy, reaching a record high of $26.66 in February.
However, the stock has dropped twice this year on disappointing quarterly reports, including a $4.23 drop to $9.47 on Aug. 7.
Redwire said revenue dropped 21% in the second quarter to $61.8 million in a report B. Riley Securities analyst Mike Crawford called “perplexing” in a research note.
The main reason for the decline was a change in contract value and cost estimates at completion for one program that reduced revenue by $17.7 million.
“Management claims to be just as blindsided by this development as investors, with change in prospects occurring in July,” Crawford said.
In the company’s conference call with analysts, CEO Peter Cannito said delays in some contracts are also affecting revenue.
“This masked the catalyst of the Edge Autonomy close, which diversifies the multi-domain opportunity set with the mostly stock transaction leaving Redwire in a solid position to navigate near-term challenges,” Jefferies analyst Greg Konrad said in his note.
“As we have previously discussed, delays in the U.S. government budgeting process impacted Redwire during the first half of 2025 and in some cases these delays have pushed out awards previously scheduled for the second half of 2025 into the beginning of 2026,” Cannito said.
“Despite these delays, however, we have started to see positive trends from both the U.S. and our allies that will present significant growth potential moving forward,” he said.
Analysts are also optimistic about future results.
“Beginning in 3Q25, we believe investors should see operating results which better reflect the business,” H.C. Wainwright analyst Scott Buck said in his note.
Buck, Crawford and Konrad all lowered their price targets for the stock but all maintained “buy” ratings.
“While we recognize the investor frustration in 2Q25 results, we believe Redwire remains extremely well positioned to benefit from favorable underlying trends in both space and defense sectors,” Buck said.
Many companies are cautioning investors about a potential negative impact from tariffs, but timber and real estate company Rayonier Inc. sees a potential benefit.
“Although housing starts and repair and remodel activity have underwhelmed thus far in 2025, we believe that a combination of factors will result in relatively improved timber market conditions during the second half of the year,” CEO Mark McHugh said in an Aug. 7 conference call.
“We’re optimistic that increased lumber production at U.S. mills as a result of higher duties on Canadian lumber coupled with a reduction in salvage volume in our Atlantic region should provide a tailwind through the second half of the year,” he said.
Rayonier said demand for timber in Southeastern markets had been lowered by hurricane salvage operations beginning in late 2024, but markets are becoming more normalized.
Rayonier sold off its timber interests in New Zealand in the second quarter and its timber assets are now only in the U.S., with 1.74 million acres in the South and 307,000 acres in the Northwest.
“These factors, coupled with the prospect of interest rate cuts later this year give us reasons for optimism regarding the near-term outlook for our timber business,” McHugh said.
Besides its timber business, Rayonier is also a real estate development company. One of its main projects is the Wildlight community in Nassau County, where Rayonier is headquartered.
Rayonier said its adjusted second-quarter earnings, excluding a large gain from the New Zealand sale and a few other items, was $9.6 million, or 6 cents a share, reversing a loss in the 2024 second quarter.
Rayonier Advanced Materials Inc., or RYAM, reported a loss for the second quarter, saying tariff volatility, operations disruptions and other factors impacted results.
The maker of cellulose specialties products, which split up with Rayonier Inc. in 2014, has reported losses from continuing operations for six straight years heading into 2025.
RYAM reported a second-quarter loss from continuing operations of $366 million, which included a $337 million non-cash deferred tax asset write-off.
In an Aug. 6 conference call, CEO De Lyle Bloomquist said the factors that caused the second-quarter loss are largely behind the company.
“Isolating and understanding the temporary nature of the headwinds we’ve encountered this year helps clarify why our long-term value proposition remains intact and in fact, more compelling than ever,” he said.
“These extraordinary impacts do not change the core fundamentals of our business or the powerful opportunities ahead of us. We remain highly confident in the strategy we’ve set and the unique position we’re in to drive meaningful business and shareholder value in the years to come.”
After announcing a major sale and acquisition in April, Fidelity National Information Services Inc., or FIS, expects more deals to come, CEO Stephanie Ferris said in an Aug. 5 conference call.
The Jacksonville-based financial technology company announced an agreement in April to sell its remaining interest in merchant payments business Worldpay to Global Payments Inc. while acquiring Global Payments’ credit processing business called Issuer Solutions.
Ferris said in the quarterly conference call that FIS recently acquired a company called Everlink, which provides integrated payment solutions to Canadian financial institutions. FIS had not previously announced that acquisition and did not provide more financial details.
“We have a robust pipeline of M&A opportunities across our key growth vectors with additional acquisitions expected shortly,” Ferris said.
She said the deals with Global Payments are on schedule to be completed in the first half of 2026.
FIS reported second-quarter revenue rose 5% to $2.62 billion and adjusted earnings rose by 2 cents a share to $1.36.
Jacksonville-based title insurance company Fidelity National Financial Inc. reported that second-quarter earnings fell 6% to $318 million, or $1.16 per share.
“This reflects market volatility and higher rates, which continued to impact the residential purchase market,” CEO Michael Nolan said in an Aug. 7 conference call.
“Our title segment remains poised for a rebound in transaction volumes, and we continue to invest in the business for the long term. Over time, we see opportunities to gain efficiencies across our operations and further enhance profitability,” he said.
FIS was spun off from Fidelity National Financial in 2006.
Cadre Holdings Inc. reported higher sales in the second quarter, mainly because of acquisitions.
However, the maker of security products and services for first responder and military markets said acquisition-related costs reduced earnings.
Sales in the quarter rose 9% to $157.1 million while earnings fell 3% to $12.2 million, or 30 cents a share.
“From a macro perspective, the secular trends driving demand for our mission-critical life-saving products around the world are only growing stronger. Unrest and conflict are on the rise, highlighting the critical need for those who protect and serve us to be equipped with the safest and most reliable products,” CEO Warren Kanders said in an Aug. 6 conference call.
In April, Cadre acquired England-based Carr’s Engineering Limited, which provides products and services for nuclear end markets.
“Regarding nuclear, we see accelerating global demand driven by strong energy, defense and nuclear waste tailwinds,” Kanders said.
Cadre narrowed its full-year sales forecast to a range of $624 million to $630 million, compared with its forecast of $618 million to $648 million in its first quarter report.
Jacksonville-based commercial real estate developer FRP Holdings Inc. reported lower second-quarter earnings, largely because of legal expenses related to due diligence for a potential investment the company is evaluating.
Revenue in the quarter was flat at $7.24 million but net income fell 72% to $624,000, or 3 cents a share.
In an Aug. 7 conference call, CEO John Baker III said he was not concerned about quarter-to-quarter results.
“Our goal this year is to lay out the groundwork for future NOI (net operating income) growth by filling our vacancies, executing the projects we currently have under construction to our very high standards and putting money to work in new projects,” he said.
Firehouse Subs grew sales by 6.3% to $336 million in the second quarter, due to expansion of the Jacksonville-based sandwich shop chain.
However, sales at Firehouse restaurants open for more than one year fell 0.8%, parent company Restaurant Brands International Inc. said in an Aug. 7 news release.
Firehouse had 1,371 restaurants operating at the end of the second quarter, up 83 from the previous year.
Its operating income in the quarter was $15 million, up from $13 million the year before.
Firehouse is the smallest of the four chains operated by Miami-based RBI. The others are Burger King, Popeyes and Tim Hortons.
Total sales at RBI restaurants grew 5.3% in the quarter to $11.85 billion.