Savannah launches nation's first waterjet hybrid ferries with public celebration
You've probably taken a ferry ride in Savannah before – but not like the one that Savannah now offers. For the first time in U.S. History, waterjet hybrid ferries are entering public service – and CAT is launching them right here in Savannah.
The Juliette Gordon Low II and Susie King Taylor II are the newest additions to the Savannah Belles Ferry Fleet – and they're making history. These are the first in the country to feature waterjet hybrid technology, which combines diesel-powered generators with large lithium-ion batteries for quiet and efficient travel.
The boats have been running since January of this year, but CAT was waiting to celebrate until they knew all the kinks were fixed and were running smoothly. They told WSAV that today is now the day to officially celebrate this launch.
After nearly five years bringing this project to life, each ferry costs around $5.5 million. The ferries improve passenger comfort while reducing fuel use and emissions. The launch also marks the completion of the newly restored seawall… a key piece of riverfront infrastructure. CAT officials hope Savannah's example sets a new standard for cities across the country.
'These vessels were a long time in the making, many years from concept to design, to build and to gather the funding to get these vessels. So, we're just really excited to be able to introduce it to all of Savannah,' said John Allen, the Director of Marine Services for Chatham Area Transit.
This afternoon, local leaders and the public are welcome to celebrate the launch of the new ferries. The event begins with a ribbon-cutting at City Hall Landing, followed by a ferry cruise to the Savannah Convention Center.
Public celebration today, 6 p.m. to 8 p.m. City Hall Landing and Trade Center Landing
Nation's 1st Waterjet Hybrid Ferries
$5.5M Each, 4–5 Years in the Making
Quieter, Cleaner, More Efficient Rides
This marks a major step forward in green public transit. The ferry fleet is now growing to 6 boats, just in time for the new convention center.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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AND SUBSIDIARIES NET INTEREST MARGIN (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions) Average interest-earning assets Segregated cash and securities $ 78,693 $ 60,057 $ 72,869 $ 60,595 Customer margin loans 60,928 52,422 62,646 49,538 Securities borrowed 7,027 5,898 5,949 5,633 Other interest-earning assets 14,747 11,218 13,601 10,585 FDIC sweeps1 5,226 4,023 5,006 3,942 $ 166,621 $ 133,618 $ 160,071 $ 130,293 Average interest-bearing liabilities Customer credit balances $ 129,998 $ 102,709 $ 124,010 $ 101,110 Securities loaned 17,181 13,688 16,659 12,711 Other interest-bearing liabilities 50 1 58 1 $ 147,229 $ 116,398 $ 140,727 $ 113,821 Net interest income Segregated cash and securities, net2 $ 756 $ 740 $ 1,419 $ 1,504 Customer margin loans3 709 755 1,484 1,433 Securities borrowed and loaned, net 60 25 70 51 Customer credit balances, net3 (857 ) (894 ) (1,674 ) (1,775 ) Other net interest income1/4 193 179 356 354 Net interest income4 $ 861 $ 805 $ 1,655 $ 1,567 Net interest margin ("NIM") 2.07 % 2.42 % 2.09 % 2.42 % Annualized yields Segregated cash and securities 3.86 % 4.96 % 3.93 % 4.99 % Customer margin loans 4.67 % 5.79 % 4.78 % 5.82 % Customer credit balances 2.64 % 3.50 % 2.72 % 3.53 % _______________________________________________ 1 Represents the average amount of customer cash swept into FDIC-insured banks as part of our Insured Bank Deposit Sweep Program. This item is not recorded in the Company's consolidated statements of financial condition. Income derived from program deposits is reported in other net interest income in the table above. 2 Net interest income on "Segregated cash and securities, net" for the three and six months ended June 30, 2025, excludes approximately $26 million of interest income, recorded in the consolidated statements of comprehensive income, related to taxes withheld at source in prior periods, which during the current quarter were determined to be fully refundable. 3 Interest income and interest expense on customer margin loans and customer credit balances, respectively, are calculated on daily cash balances within each customer's account on a net basis, which may result in an offset of balances across multiple account segments (e.g., between securities and commodities segments). 4 Includes income from financial instruments that has the same characteristics as interest, but is reported in other fees and services and other income in the Company's consolidated statements of comprehensive income. For the three and six months ended June 30, 2025 and 2024, $9 million, $17 million, $7 million, and $13 million were reported in other fees and services, respectively. For the three and six months ended June 30, 2025 and 2024, $18 million, $34 million, $6 million, and $15 million were reported in other income, respectively. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions) Adjusted net revenues1 Net revenues - GAAP $ 1,480 $ 1,230 $ 2,907 $ 2,433 Non-GAAP adjustments Currency diversification strategy, net 5 20 (15 ) 22 Mark-to-market on investments2 (5 ) 40 (16 ) 51 Total non-GAAP adjustments - 60 (31 ) 73 Adjusted net revenues $ 1,480 $ 1,290 $ 2,876 $ 2,506 Adjusted income before income taxes1 Income before income taxes - GAAP $ 1,104 $ 880 $ 2,159 $ 1,746 Non-GAAP adjustments Currency diversification strategy, net 5 20 (15 ) 22 Mark-to-market on investments2 (5 ) 40 (16 ) 51 Total non-GAAP adjustments - 60 (31 ) 73 Adjusted income before income taxes $ 1,104 $ 940 $ 2,128 $ 1,819 Adjusted pre-tax profit margin 75 % 73 % 74 % 73 % Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions) Adjusted net income available for common stockholders1 Net income available for common stockholders - GAAP $ 224 $ 179 $ 437 $ 354 Non-GAAP adjustments Currency diversification strategy, net 1 5 (4 ) 5 Mark-to-market on investments2 (1 ) 10 (4 ) 13 Income tax effect of above adjustments3 0 (3 ) 2 (4 ) Total non-GAAP adjustments (0 ) 12 (6 ) 14 Adjusted net income available for common stockholders $ 224 $ 191 $ 431 $ 368 Note: Amounts may not add due to rounding. Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in dollars) Adjusted diluted EPS1/4 Diluted EPS - GAAP $ 0.51 $ 0.41 $ 0.99 $ 0.82 Non-GAAP adjustments Currency diversification strategy, net 0.00 0.01 (0.01 ) 0.01 Mark-to-market on investments2 (0.00 ) 0.02 (0.01 ) 0.03 Income tax effect of above adjustments3 0.00 (0.01 ) 0.01 (0.01 ) Total non-GAAP adjustments (0.00 ) 0.03 (0.01 ) 0.03 Adjusted diluted EPS $ 0.51 $ 0.44 $ 0.98 $ 0.85 Diluted weighted average common shares outstanding 441,439,924 434,507,344 440,459,081 433,552,552 Note: Amounts may not add due to rounding. Note: The term "GAAP" in the following explanation refers to generally accepted accounting principles in the United States. 1 Adjusted net revenues, adjusted income before income taxes, adjusted net income available for common stockholders and adjusted diluted earnings per share ("EPS") are non-GAAP financial measures. We define adjusted net revenues as net revenues adjusted to remove the effect of our currency diversification strategy and our net mark-to-market gains (losses) on investments2. We define adjusted income before income taxes as income before income taxes adjusted to remove the effect of our currency diversification strategy and our net mark-to-market gains (losses) on investments. We define adjusted net income available to common stockholders as net income available for common stockholders adjusted to remove the after-tax effects attributable to IBG, Inc. of our currency diversification strategy and our net mark-to-market gains (losses) on investments. We define adjusted diluted EPS as adjusted net income available for common stockholders divided by the diluted weighted average number of shares outstanding for the period. Management believes these non-GAAP items are important measures of our financial performance because they exclude certain items that may not be indicative of our core operating results and business outlook and may be useful to investors and analysts in evaluating the operating performance of the business and facilitating a meaningful comparison of our results in the current period to those in prior and future periods. Our currency diversification strategy and our mark-to-market on investments are excluded because management does not believe they are indicative of our underlying core business performance. Adjusted net revenues, adjusted income before income taxes, adjusted net income available to common stockholders and adjusted diluted EPS should be considered in addition to, rather than as a substitute for, GAAP net revenues, income before income taxes, net income attributable to common stockholders and diluted EPS. 2 Mark-to-market on investments represents the net mark-to-market gains (losses) on investments in equity securities that do not qualify for equity method accounting, which are measured at fair value; on our U.S. government and municipal securities portfolios, which are typically held to maturity; and on certain other investments. 3 The income tax effect is estimated using the statutory income tax rates applicable to the Company. 4 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. View source version on Contacts For Interactive Brokers Group, Inc. Investors: Nancy Stuebe, investor-relations@ or Media: Rob Garfield, media@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
