Daily Brief Industrials: Uber Technologies , Emerson Electric Co, Seibu Holdings, Porr Ag, React Group PLC, Resideo Technologies Inc, Thomson Reuters , International Consolidated Air, GXO Logistics and more

• Uber Technologies Inc. has reported robust earnings for the second quarter of 2025, setting several new records.
• The company saw significant growth in its key metrics, with trips and gross bookings both increasing by 18%.
• This performance was underpinned by achieving all-time highs in adjusted EBITDA, GAAP operating income, and free cash flow.

• Emerson exhibited a mixed performance in its third quarter of 2025, attributed to both strategic advancements and external conditions impacting the overall business environment.
• The company’s underlying sales growth was modest, up by 3%, driven mainly by its process and hybrid businesses that grew at 3.5%, whereas discrete businesses posted a 2% growth year-over-year.
• Order growth was particularly notable in the Test & Measurement segment, which increased by 16%, signaling a recovery in that market.

• Q1 FY26: Sales up +6% YoY but profits softer on transport and hotel margins.
• Guidance Raised: FY26 OP lifted +20% on fare hikes, ridership recovery, and real estate monetization.
• Valuation: At ¥5,268, shares trade at a 47% discount to SoTP (¥9,916) 

International Airlines Group’s (IAG’s) H125 results show strong profit growth, expansion in industry-leading margins and solid shareholder returns. Revenue growth is being driven by its premium brands, hub and route positioning, and investment in modernising its fleet and in customer experience, while transformation efforts are unlocking operating efficiencies.

PORR Group delivered new orders of €2,510m in Q225 (up 31% y-o-y), driven by several large transport infrastructure project wins. Q225 book-to-bill rose to 1.5x and the order book now stands at €9,421m, up 10.0% y-o-y (Q125: €8,812m). According to management, pipeline quality remains high and infrastructure-focused, meaning margins should be supported over the coming quarters. Q225 revenues were €1,694m, up 3.8% y-o-y, and EBIT was €36m, up 17% y-o-y. Management’s guidance of an FY25 EBIT margin of 2.8–3.0% remains unchanged.

• 15th August 2025 Alphabetically arranged Share prices and market capitalisations taken from Alpha Terminal from the current price on the day of publication.
• Top three shareholders are taken from the websites of the companies that we are writing about, unless there is a more up to date TR-1 notification RNS announcement.
• Two companies at different ends of the business risk spectrum, but both set for growth OBD Deal or No deal REAT Earnings Flow Oxford Biodynamics 0.425p £8.34m (OBD.L) Financial Calendar: Year End September, reported 28 February 2025, Interims March, Reported 30 June 2025 Three Main Shareholders: Vulpes Investment Management Pte Ltd 12.9%, Unicorn AM 7.41%%, Sankofa Strategic Fund Ltd 6.57% Key Investment Points: Stable Platform, Nearer to a Deal, Cashed up to Avoid Dilution The Company pioneering the use of 3D genomic biomarkers for clinical diagnostics announced a collaboration with Google Cloud this week to support the development and deployment of OBD’s analytical framework on the cloud.

• Resideo Technologies, Inc. recently reported its second-quarter results for 2025, demonstrating robust financial performance with record highs in net revenue and adjusted EBITDA.
• The company notably exceeded its guidance, which underscores its operational resilience amidst a challenging macroeconomic environment.
• The company’s ADI Global Distribution (ADI) and Products & Solutions (P&S) segments both experienced organic revenue growth, with ADI reaching a notable 10% and P&S achieving 5% growth.

• Thomson Reuters has reported its second quarter results for 2025, reflecting a balanced performance with both commendable strengths and areas that require careful attention.
• The total organic revenue increased by 7%, with the company’s major segments expanding by 9%.
• Specifically, the Legal Professionals segment reported consistent growth with an 8% rise in organic revenue for the second consecutive quarter, fueled by momentum from products like Westlaw and CoCounsel.

International Airlines Group’s (IAG’s) H125 results show strong profit growth, expansion in industry-leading margins and solid shareholder returns. Revenue growth is being driven by its premium brands, hub and route positioning, and investment in modernising its fleet and in customer experience, while transformation efforts are unlocking operating efficiencies.

• GXO Logistics Inc. reported a robust performance in the second quarter of 2025, with record revenues and increased guidance, signaling strong operational health and strategic advancements.
• The company achieved a record revenue of $3.3 billion, marking a 16% increase from the previous year, with organic growth contributing 6%, the highest in nine quarters.
• Adjusted EBITDA rose by 13% year-over-year to $212 million, leading GXO to raise its full-year guidance for adjusted EBITDA to a range of $865 to $885 million.