Regions Reports Solid Third Quarter Results, New Records in Wealth and Capital Markets Performance
BIRMINGHAM, Ala.--( BUSINESS WIRE)--Regions Financial Corp. (NYSE:RF) today reported third quarter 2025 earnings of $548 million and diluted EPS of $0.61. Adjusted earnings were $561 million, an 8 percent increase year-over-year, and adjusted EPS of $0.63, up 11 percent.
Financial Highlights
Soundness
Quarter Ended
($ amounts in millions, except per share data)
9/30/2025
6/30/2025
9/30/2024
Earnings Summary
Net income
$
569
$
563
$
490
Net income available to common shareholders
548
534
446
Adj. net income avail. to common shareholders (1)
561
538
520
Diluted earnings per common share
0.61
0.59
0.49
Adj. diluted earnings per common share (1)
0.63
0.60
0.57
Profitability
Balance Sheet Summary
Average loans
$
96,647
$
96,077
$
97,040
Average deposits
129,575
129,444
125,950
Credit Quality
Allowance for credit losses ratio
1.78
%
1.80
%
1.79
%
Net charge-offs / average loans*
0.55
0.47
0.48
Selected Ratios
Return on average assets*
1.42
%
1.43
%
1.26
%
Growth
Return on average common equity*
12.56
12.72
10.88
Return on avg. tangible common equity* (1)
18.81
19.34
16.87
Adj. return on avg. tangible common equity* (1)
19.24
19.48
19.68
Net interest margin (FTE)*
3.59
3.65
3.54
Efficiency ratio
57.2
56.0
59.3
Adjusted efficiency ratio (1)
56.9
56.0
56.9
Common equity Tier 1 ratio
10.8
10.8
10.6
Adj. common equity Tier 1 ratio (1)
9.5
9.3
9.1
*Annualized
(1) Non-GAAP; refer to reconciliations in the financial supplement to this earnings release included as Exhibit 99.2 to the company's Current Report on Form 8-K that was furnished to the SEC on Oct. 17, 2025.
John Turner, Chairman, President and CEO of Regions Financial Corp.
"Our third quarter results highlight the strength of our franchise and the impact of disciplined execution across our businesses. We grew average deposits, expanded client relationships, and delivered another record quarter in Wealth Management and Capital Markets, while Treasury Management remains strong. The Regions brand remains a steady, growing presence across dynamic markets in the Southeast, Texas and the Midwest, backed by experienced teams, investments in technology, and a long-standing commitment to our communities. These strengths position us to compete and win, with momentum building into 2026 as we continue delivering long-term value for our shareholders."
Total revenue
Quarter Ended
($ amounts in millions)
9/30/2025
6/30/2025
9/30/2024
3Q25 vs. 2Q25
3Q25 vs. 3Q24
Net interest income
$
1,257
$
1,259
$
1,218
$
(2
)
(0.2
)%
$
39
3.2
%
Taxable equivalent adjustment
12
12
12
—
—
%
—
—
%
Net interest income, taxable equivalent basis
$
1,269
$
1,271
$
1,230
$
(2
)
(0.2
)%
$
39
3.2
%
Net interest margin (FTE)*
3.59
%
3.65
%
3.54
%
Non-interest income:
Service charges on deposit accounts
$
160
$
151
$
158
$
9
6.0
%
$
2
1.3
%
Card and ATM fees
122
125
118
(3
)
(2.4
)%
4
3.4
%
Wealth management income
139
133
128
6
4.5
%
11
8.6
%
Capital markets income
104
83
92
21
25.3
%
12
13.0
%
Mortgage income
38
48
36
(10
)
(20.8
)%
2
5.6
%
Commercial credit fee income
28
29
28
(1
)
(3.4
)%
—
—
%
Bank-owned life insurance
25
24
28
1
4.2
%
(3
)
(10.7
)%
Market value adjustments on employee benefit assets**
12
16
13
(4
)
(25.0
)%
(1
)
(7.7
)%
Securities gains (losses), net
(27
)
(1
)
(78
)
(26
)
NM
51
65.4
%
Other miscellaneous income
58
38
49
20
52.6
%
9
18.4
%
Non-interest income
$
659
$
646
$
572
$
13
2.0
%
$
87
15.2
%
Adjusted non-interest income (non-GAAP) (1)
$
684
$
646
$
650
$
38
5.9
%
$
34
5.2
%
Total revenue
$
1,916
$
1,905
$
1,790
$
11
0.6
%
$
126
7.0
%
Adjusted total revenue (non-GAAP) (1)
$
1,941
$
1,905
$
1,868
$
36
1.9
%
$
73
3.9
%
NM - Not Meaningful
* Annualized
** These market value adjustments relate to assets held for employee and director benefits that are offset within salaries and employee benefits and other non-interest expense.
Total revenue increased 1 percent on a reported basis and increased 2 percent on an adjusted basis (1) compared to the second quarter of 2025. Net interest income remained stable as the benefits of new fixed-rate asset originations and reinvestments, as well as one additional day in the quarter, were offset by nonrecurring beneficial items that occurred in the prior quarter that did not repeat. Total net interest margin was also negatively impacted by the additional day and cash balances that remained elevated during the quarter, ultimately contributing to an 6 basis point decline to 3.59 percent.
Non-interest income increased 2 percent on a reported basis and 6 percent on an adjusted basis (1) compared to the second quarter of 2025. Capital markets income excluding valuation adjustments on customer derivatives increased 22 percent, representing a new quarterly record. The linked-quarter increase was attributable to higher merger and acquisition advisory services, commercial swaps sales, loan syndications, and securities underwriting income. Service charges increased 6 percent due primarily to increased account openings, seasonally higher activity, and one additional business day in the quarter. Wealth management income increased 5 percent and represented another record quarter, driven primarily by elevated sales activity and favorable market conditions. Other miscellaneous income also increased during the quarter attributable primarily to gains from the sale of certain low income housing tax credit investments, small business investment company income and a gain on the sale of certain commercial leasing equipment. Partially offsetting these gains were reductions in mortgage income and card and ATM fees. Adjusted items during the quarter include the company's execution of a strategic securities repositioning resulting in a $25 million loss.
Non-interest expense
Quarter Ended
($ amounts in millions)
9/30/2025
6/30/2025
9/30/2024
3Q25 vs. 2Q25
3Q25 vs. 3Q24
Salaries and employee benefits
$
671
$
658
$
645
$
13
2.0
%
$
26
4.0
%
Equipment and software expense
106
104
101
2
1.9
%
5
5.0
%
Net occupancy expense
72
72
69
—
—
%
3
4.3
%
Outside services
42
39
41
3
7.7
%
1
2.4
%
Marketing
28
26
28
2
7.7
%
—
—
%
Professional, legal and regulatory expenses
30
28
21
2
7.1
%
9
42.9
%
Credit/checkcard expenses
15
16
14
(1
)
(6.3
)%
1
7.1
%
FDIC insurance assessments
15
20
17
(5
)
(25.0
)%
(2
)
(11.8
)%
Visa class B shares expense
8
4
17
4
100.0
%
(9
)
(52.9
)%
Operational losses
18
13
19
5
38.5
%
(1
)
(5.3
)%
Branch consolidation, property and equipment charges
(5
)
—
—
(5
)
NM
(5
)
NM
Other miscellaneous expenses
103
93
97
10
10.8
%
6
6.2
%
Non-interest expense
$
1,103
$
1,073
$
1,069
$
30
2.8
%
$
34
3.2
%
Adjusted non-interest expense (non-GAAP) (1)
$
1,111
$
1,073
$
1,069
$
38
3.5
%
$
42
3.9
%
Salaries and Benefits Expense
Quarter Ended
($ amounts in millions)
9/30/2025
6/30/2025
9/30/2024
3Q25 vs. 2Q25
3Q25 vs. 3Q24
Salaries and employee benefits
$
671
$
658
$
645
$
13
2.0
%
$
26
4.0
%
Less: Market value adjustments on 401(k) liabilities*
13
16
12
(3
)
(18.8
)%
1
8.3
%
Salaries and employee benefits less market value adjustments on employee benefit liabilities
$
658
$
642
$
633
$
16
2.5
%
$
25
3.9
%
NM - Not Meaningful
* The company holds assets in order to offset the market value adjustments on 401(k) liabilities and the market value adjustments on those assets are recorded in non-interest income.
Non-interest expense increased 3 percent on a reported basis and 4 percent on an adjusted basis (1) compared to the second quarter of 2025. As expected, salaries and benefits increased 2 percent, driven primarily by one additional work day in the quarter, increased revenue-based incentive compensation associated with elevated capital markets revenue, and further progress on growth initiative-related hires. Visa class B shares expense also increased during the quarter reflecting the company's proportional share of Visa's recent escrow funding announcement.
The company's third quarter efficiency ratio was 57.2 percent on a reported basis and 56.9 percent on an adjusted basis (1), and the effective tax rate was 19.7 percent.
Loans
Average Balances
($ amounts in millions)
3Q25
2Q25
3Q24
3Q25 vs. 2Q25
3Q25 vs. 3Q24
Commercial and industrial
$
49,588
$
49,033
$
49,847
$
555
1.1
%
$
(259
)
(0.5
)%
Commercial real estate—owner-occupied
5,134
5,170
5,212
(36
)
(0.7
)%
(78
)
(1.5
)%
Investor real estate
9,138
9,009
8,759
129
1.4
%
379
4.3
%
Business Lending
63,860
63,212
63,818
648
1.0
%
42
0.1
%
Residential first mortgage
19,944
19,992
20,147
(48
)
(0.2
)%
(203
)
(1.0
)%
Home equity
5,538
5,525
5,530
13
0.2
%
8
0.1
%
Consumer credit card
1,420
1,397
1,359
23
1.6
%
61
4.5
%
Other consumer*
5,885
5,951
6,186
(66
)
(1.1
)%
(301
)
(4.9
)%
Consumer Lending
32,787
32,865
33,222
(78
)
(0.2
)%
(435
)
(1.3
)%
Total Loans
$
96,647
$
96,077
$
97,040
$
570
0.6
%
$
(393
)
(0.4
)%
Ending Balances
9/30/2025
9/30/2025
($ amounts in millions)
9/30/2025
6/30/2025
9/30/2024
vs. 6/30/2025
vs. 9/30/2024
Commercial and industrial
$
49,234
$
49,586
$
49,565
$
(352
)
(0.7
)%
$
(331
)
(0.7
)%
Commercial real estate—owner-occupied
5,120
5,165
5,214
(45
)
(0.9
)%
(94
)
(1.8
)%
Investor real estate
9,070
9,098
8,812
(28
)
(0.3
)%
258
2.9
%
Business Lending
63,424
63,849
63,591
(425
)
(0.7
)%
(167
)
(0.3
)%
Residential first mortgage
19,881
20,020
20,125
(139
)
(0.7
)%
(244
)
(1.2
)%
Home equity
5,549
5,536
5,534
13
0.2
%
15
0.3
%
Consumer credit card
1,437
1,415
1,372
22
1.6
%
65
4.7
%
Other consumer*
5,834
5,903
6,167
(69
)
(1.2
)%
(333
)
(5.4
)%
Consumer Lending
32,701
32,874
33,198
(173
)
(0.5
)%
(497
)
(1.5
)%
Total Loans
$
96,125
$
96,723
$
96,789
$
(598
)
(0.6
)%
$
(664
)
(0.7
)%
NM - Not meaningful.
* Other consumer loans includes Regions' Home Improvement Financing portfolio.
Average loans increased approximately 1 percent compared to the prior quarter, while total ending loans decreased approximately 1 percent. Average business loans grew 1 percent during the quarter, while average consumer loans decreased slightly. Growth in average business lending was attributable primarily to sequential growth in financial services, government and public sectors, commercial durable goods manufacturing, and utilities within commercial and industrial loans, along with a modest increase in commercial real estate loans.
Deposits
Average Balances
($ amounts in millions)
3Q25
2Q25
3Q24
3Q25 vs. 2Q25
3Q25 vs. 3Q24
Total interest-bearing deposits
$
90,037
$
89,888
$
86,260
$
149
0.2
%
$
3,777
4.4
%
Non-interest-bearing deposits
39,538
39,556
39,690
(18
)
—
%
(152
)
(0.4
)%
Total Deposits
$
129,575
$
129,444
$
125,950
$
131
0.1
%
$
3,625
2.9
%
($ amounts in millions)
3Q25
2Q25
3Q24
3Q25 vs. 2Q25
3Q25 vs. 3Q24
Consumer Bank Segment
$
79,698
$
79,912
$
78,904
$
(214
)
(0.3
)%
$
794
1.0
%
Corporate Bank Segment
39,733
39,234
36,867
499
1.3
%
2,866
7.8
%
Wealth Management Segment
7,262
7,324
7,374
(62
)
(0.8
)%
(112
)
(1.5
)%
Other
2,882
2,974
2,805
(92
)
(3.1
)%
77
2.7
%
Total Deposits
$
129,575
$
129,444
$
125,950
$
131
0.1
%
$
3,625
2.9
%
End of Period Deposits
9/30/2025
9/30/2025
($ amounts in millions)
9/30/2025
6/30/2025
9/30/2024
vs. 6/30/2025
vs. 9/30/2024
Consumer Bank Segment
$
79,689
$
79,953
$
78,858
$
(264
)
(0.3
)%
$
831
1.1
%
Corporate Bank Segment
40,415
40,101
36,955
314
0.8
%
3,460
9.4
%
Wealth Management Segment
7,654
7,352
7,520
302
4.1
%
134
1.8
%
Other
2,576
3,513
3,043
(937
)
(26.7
)%
(467
)
(15.3
)%
Total Deposits
$
130,334
$
130,919
$
126,376
$
(585
)
(0.4
)%
$
3,958
3.1
%
NM - Not meaningful.
The company believes its deposit base continues to be a source of strength and an industry differentiator in liquidity and margin performance. Ending and average deposits remained relatively stable during the quarter as average consumer deposits remained roughly flat, which is slightly ahead of typical seasonal trends, while average commercial deposits continued to exhibit strength primarily across money market and interest-bearing checking.
Asset quality
As of and for the Quarter Ended
($ amounts in millions)
9/30/2025
6/30/2025
9/30/2024
Allowance for credit losses (ACL) at period end
$1,713
$1,743
$1,728
ACL/Loans, net
1.78%
1.80%
1.79%
Allowance for credit losses to non-performing loans, excluding loans held for sale
226%
225%
210%
Provision for credit losses
$105
$126
$113
Net loans charged-off
$135
$113
$117
Net loans charged-off as a % of average loans, annualized
0.55%
0.47%
0.48%
Non-performing loans, excluding loans held for sale/Loans, net
0.79%
0.80%
0.85%
NPAs (ex. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale
0.82%
0.84%
0.87%
NPAs (inc. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale*
0.98%
1.01%
1.06%
Total Criticized Loans—Business Services **
$3,682
$4,608
$4,692
* Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing.
** Business services represents the combined total of commercial and investor real estate loans.
Overall asset quality metrics remained stable to improving during the most recent quarter. Net charge-offs were $135 million or an annualized 55 basis points of average loans during the third quarter, representing an 8 basis point increase compared to the second quarter. The majority of business services charges came from previously identified portfolios of interest which were already reserved for. Business services criticized loans improved significantly during the quarter, decreasing almost $1 billion, or 20 percent, while non-performing loans decreased 2 percent with the ratio of non-performing loans as a percentage of total loans declining 1 basis point to 79 basis points.
As a result of the significant improvement in business services criticized loans and the overall decline in non-performing loans, as well as solid progress made on resolutions within certain previously identified portfolios of interest, the company's allowance for credit losses decreased $30 million over the prior quarter. The allowance for credit losses ratio decreased 2 basis points to 1.78 percent, while the allowance for credit losses as a percentage of non-performing loans increased to 226 percent compared to the second quarter.
Capital and liquidity
As of and for Quarter Ended
9/30/2025
6/30/2025
9/30/2024
Common Equity Tier 1 ratio (2)
10.8%
10.8%
10.6%
Tier 1 capital ratio (2)
11.9%
11.9%
12.0%
Total shareholders' equity to total assets
11.91%
11.72%
11.86%
Tangible common shareholders’ equity to tangible assets (non-GAAP) (1)
7.74%
7.52%
7.37%
Common book value per share
$19.98
$19.35
$18.62
Tangible common book value per share (non-GAAP) (1)
$13.49
$12.91
$12.26
Loans, net of unearned income, to total deposits
73.8%
73.9%
76.6%
Regions maintained a solid capital position in the third quarter with estimated capital ratios remaining well above current regulatory requirements. At quarter-end, the Common Equity Tier 1 (2) and Tier 1 capital (2) ratios were estimated at 10.8 percent and 11.9 percent respectively.
Tangible common book value per share (1) ended the quarter at $13.49, a 4 percent increase quarter-over-quarter and a 10 percent increase year-over-year.
During the third quarter, the company repurchased approximately 10 million shares of common stock for a total of $251 million through open-market purchases and declared $235 million in dividends to common shareholders.
The company's liquidity position also remained robust with total available liquidity as of Sept. 30, 2025, of approximately $69 billion, which includes cash held at the Federal Reserve, FHLB borrowing capacity, unencumbered securities, and capacity at the Federal Reserve's facilities such as the Discount Window or Standing Repo Facility. These sources are sufficient to cover uninsured deposits at a ratio of approximately 181 percent as of quarter-end (excluding intercompany and secured deposits).
Non-GAAP; refer to reconciliations on pages 13, 17, 18, 19 and 20 of the financial supplement to this earnings release included as Exhibit 99.2 to the company's Current Report on Form 8-K that was furnished to the Securities and Exchange Commission on Oct. 17, 2025.
Current quarter Common Equity Tier 1 and Tier 1 capital ratios are estimated.
Conference Call
The company will hold a live audio webcast to discuss third quarter 2025 results on Oct. 17, 2025 at 10 a.m. ET. To access this live audio webcast, visit the the Investor Relations page at ir.regions.com. An archived recording of the webcast will be available at the Investor Relations page at ir.regions.com following the live event.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $160 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,250 banking offices and more than 1,850 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
Forward-Looking Statements
This release and the accompanying earnings call may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. In addition, the company, through its senior management, may from time to time make forward-looking public statements concerning the matters described herein. The words “future,” “anticipates,” “assumes,” “intends,” “plans,” “seeks,” “believes,” “predicts,” “potential,” “objectives,” “estimates,” “expects,” “targets,” “projects,” “outlook,” “forecast,” “would,” “will,” “may,” “might,” “could,” “should,” “can,” and similar terms and expressions often signify forward-looking statements. Forward-looking statements are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results or other developments. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, and because they also relate to the future they are likewise subject to inherent uncertainties and other factors that may cause actual results to differ materially from the views, beliefs and projections expressed in such statements. Therefore, we caution you against relying on any of these forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, those described below:
The foregoing list of factors is not exhaustive. For discussion of these and other factors that may cause actual results to differ from expectations, look under the captions “Forward-Looking Statements” and “Risk Factors” in Regions’ Annual Report on Form 10-K for the year ended December 31, 2024 and in Regions’ subsequent filings with the SEC.
You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them. We assume no obligation and do not intend to update or revise any forward-looking statements that are made from time to time, either as a result of future developments, new information or otherwise, except as may be required by law.
Use of Non-GAAP Financial Measures
Management uses pre-tax pre-provision income (non-GAAP), adjusted pre-tax pre-provision income (non-GAAP), the adjusted efficiency ratio (non-GAAP), the adjusted fee income ratio (non-GAAP), return on average tangible common shareholders' equity (non-GAAP), adjusted return on average tangible common shareholders' equity (non-GAAP), adjusted common equity Tier 1 ratio (non-GAAP), as well as adjusted net income available to common shareholders (non-GAAP) and adjusted diluted EPS (non-GAAP) to monitor performance and believes these measures provide meaningful information to investors. Non-interest expense (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest expense (non-GAAP), which is the numerator for the adjusted efficiency ratio. Non-interest income (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest income (non-GAAP), which is the numerator for the adjusted fee income ratio. Adjusted non-interest income (non-GAAP) and adjusted non-interest expense (non-GAAP) are used to determine adjusted pre-tax pre-provision income (non-GAAP). Net interest income (GAAP) on a taxable-equivalent basis and non-interest income are added together to arrive at total revenue on a taxable-equivalent basis. Adjustments are made to arrive at adjusted total revenue on a taxable-equivalent basis (non-GAAP), which is the denominator for the adjusted fee income and adjusted efficiency ratios. Net income available to common shareholders (GAAP) is presented excluding certain adjustments, net of tax, to arrive at adjusted net income available to common shareholders (non-GAAP), which is the numerator for adjusted diluted EPS (non-GAAP). Return on average tangible common shareholders' equity (non-GAAP) is calculated by dividing net income available to common shareholders (GAAP) by the average tangible common shareholders’ equity (non-GAAP). Net income available to common shareholders (GAAP) is presented excluding certain adjustments, net of tax, to arrive at adjusted net income available to common shareholders (non-GAAP), which is the numerator for adjusted return on average tangible common shareholders’ equity. Adjusted return on average tangible common shareholders' equity is calculated by dividing the adjusted net income available to common shareholders (non-GAAP) by the average tangible common shareholders’ equity (non-GAAP). Adjusted common equity Tier 1 ratio (non-GAAP) is calculated by dividing the adjusted common equity tier 1 (non-GAAP), which is arrived at by excluding the AOCI loss on securities and AOCI loss on defined benefit pension plans and other post employment benefits from common equity Tier 1, by the company’s total risk-weighted assets (GAAP).
Regions believes that the exclusion of these adjustments provides a meaningful basis for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations. Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the company on the same basis as that applied by management. Tangible common book value per share is calculated by dividing tangible common shareholders' equity (non-GAAP) by tangible assets (non-GAAP). The numerator for tangible book value per share (non-GAAP), tangible common shareholders' equity (non-GAAP), is calculated by excluding intangible assets and the deferred tax liability related to intangible assets from common shareholders' equity (GAAP). The denominator for tangible book value per share (non-GAAP), tangible assets (non-GAAP), is calculated by excluding intangible assets and the deferred tax liability related to intangible assets from total assets (non-GAAP).
Tangible common shareholders’ equity ratios have become a focus of some investors and management believes they may assist investors in analyzing the capital position of the company absent the effects of intangible assets and preferred stock. Analysts and banking regulators have assessed Regions’ capital adequacy using the tangible common shareholders’ equity measure. Because tangible common shareholders’ equity is not formally defined by GAAP or prescribed in any amount by federal banking regulations it is currently considered to be a non-GAAP financial measure and other entities may calculate it differently than Regions’ disclosed calculations. Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common shareholders’ equity to tangible assets, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.
Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. In particular, a measure of earnings that excludes selected items does not represent the amount that effectively accrues directly to stockholders. Additionally, our non-GAAP financial measures may not be comparable to similar non-GAAP financial measures used by other companies and there is no certainty that we will not incur expenses in the future that are similar to those excluded in the calculations of non-GAAP financial measures presented herein.
Management and the Board of Directors utilize non-GAAP measures as follows:
See the company's Financial Supplement, included as Exhibit 99.2 to the company's Current Report on Form 8-K furnished to the Securities and Exchange Commission on Oct. 17, 2025, for reconciliations of and additional information regarding the company's non-GAAP financial measures.