Costco’s gas stations saw a surge in demand in the most recent quarter as consumers sought out its low-priced gasoline, which helped the company top the market expectations for its third-quarter sales.

Costco CEO Ron Vachris noted the “backdrop of ongoing macro uncertainty” has consumers searching out affordable options given the pressure on household budgets, which helped attract members to its gas stations.

“Nowhere has this been more apparent in the third quarter than our gas business. As events in the Middle East have had a significant impact on product supply and gas prices, our focus, as always, is to be there for our members by staying in stock and offering the best value,” Vachris said.

“The result was record-breaking volumes, all three four-week fiscal periods of the quarter set successive all-time company volume sales records, with the final five weeks for the quarter becoming our top five volume weeks ever,” he said.

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Costco cited “unprecedented demand” for its low-cost gas in the latest quarter. (Elijah Nouvelage/Bloomberg via Getty Images)

Vachris commended the Costco team’s work managing the deliveries necessary to meet demand, “which requires multiple daily gas deliveries to many locations.”

Energy markets were upended by the Iran war, which sent gas prices surging above $4 a gallon around the country as global oil supplies were constrained by the closure of the Strait of Hormuz, which sent crude prices above $100 a barrel.

AMERICANS LEAN ON CREDIT CARDS AND BUY NOW, PAY LATER AS GAS PRICES EAT BIGGER SHARE OF INCOME

The latest AAA data shows the national average price for a gallon of regular gasoline was $4.39 on Friday, up about 38% from the average of $3.17 a gallon a year ago.

Vachris noted that the low-cost gasoline offered at Costco stations helped attract new members and customers into stores, driving more sales momentum for the wholesale club in the future.

GAS PRICE SURGE HITTING LOW-INCOME HOUSEHOLDS HARDEST, FED STUDY FINDS

Costco said that low gas prices helped drive new memberships as sales volumes rose. (David Paul Morris/Bloomberg)

“The high consumer price sensitivity, which fueled these record volumes, also drove many members to use our gas stations for the very first time in the third quarter. We believe this will drive even greater loyalty with these members in the future as members who use our gas stations typically spend more with us in the warehouse,” he said.

Costco CFO Gary Millerchip added that Costco’s volumes of gas sales allowed the company to widen its price gap with higher-cost stations, adding that the company knows “that’s something that’s very high on our members’ minds.”

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Reuters contributed to this report.

Guilherme Coelho
CEO & Director

Good morning, good afternoon, everyone, and welcome to Ventura Offshore’s Q1 2026 Earnings Call. My name is Guilherme Coelho, I’m the CEO of Ventura Offshore. And I’d like to thank you all for joining us today.

Here with me are Marcelo Issa, our CFO; Mardonildo Filho, our Chief Strategy Officer; and Olav Amri, our Financial Adviser. And we’ll provide you an overview of our performance between January and March of this year, a brief overview of the market, and at the end, open for questions. [Operator Instructions]

So next slide, this is our disclaimer, which you guys are familiar with.

Okay. So very glad to report our robust operational performance in the first quarter of the year, with an uptime of 96.8%, in line with the continuous improvement we have been observing since last year. Another key highlight for the quarter, in Q1, Ventura Offshore has delivered an adjusted EBITDA of $21.5 million and a net income of $25.8 million.

Again this quarter, we maintained our industry-leading cost structure, operating with an average OpEx of $106,700 per day, excluding ancillary service for the Catarina, which are fully reimbursed by the customer with a markup margin. So again, demonstrating our cost discipline throughout the quarters and the years. I’ve been having this call with you now for 2 years, and proud to see that we’ve been able to demonstrate our cost control since our call #1.

We also closed the quarter with a strong free cash position of $37.2 million. That’s prior to the bond tap that we’ll talk about in a second. On uptime, as I already indicated, we delivered

Office design has evolved significantly over the last decade. Businesses are paying closer attention to workplace productivity, employee well-being, and professional presentation than ever before.

Yet despite the rise of flexible workspaces and hybrid working, one piece of furniture continues to hold particular importance in leadership spaces: the executive office desk.

For directors, founders, and senior managers, a desk is more than a workstation. It influences organisation, comfort, workflow efficiency, and even how clients and employees perceive the business itself.

Choosing the right executive office desk requires more thought than simply selecting a design that looks impressive. The ideal desk should support productivity, reflect company standards, and adapt to the practical demands of modern working environments.

Why the Executive Office Desk Still Matters

Modern workplaces increasingly prioritize functionality, ergonomics, and collaborative layouts. However, executive offices still serve an important role within many businesses.

An executive workspace often acts as:

• A decision-making environment
• A private meeting space
• A focused work area
• A representation of company professionalism

The furniture within that space contributes directly to how effective and organised the environment feels. Research and workplace trends continue to show that office layout and furniture choices can influence concentration, comfort, and productivity. Business-focused publications have also highlighted the growing demand for office furniture that balances practicality with aesthetics in contemporary workspaces.

A well-designed executive desk creates structure within the workspace while helping leaders manage demanding daily responsibilities more efficiently.

What Defines a True Executive Office Desk?

Not every large desk qualifies as an executive desk. True executive office furniture combines professional design with practical functionality.

Several elements distinguish executive desks from standard office workstations.

Size and Workspace Functionality

Executive desks typically provide larger working surfaces to accommodate multiple monitors, documents, meetings, and day-to-day administrative tasks.

Additional surface space also helps reduce clutter, which can improve focus and organisation throughout the working day.

Materials and Durability

High-quality executive desks are generally constructed using durable materials such as:

• Solid wood
• Veneered wood
• Tempered glass
• Metal frameworks
• Commercial-grade laminates

Durability matters because executive furniture is used daily. Investing in quality materials can reduce replacement costs over time while maintaining a professional appearance for years.

Storage and organisation

Integrated storage remains one of the most valuable features in executive furniture.

Many executive office desks include:

• Lockable drawers
• Filing cabinets
• Hidden cable management
• Built-in storage compartments

These features help maintain a cleaner and more organised workspace, particularly in fast-paced business environments.

Design and Professional Image

An executive office often hosts meetings with clients, suppliers, investors, or team members. Furniture plays a subtle but important role in shaping first impressions.

A thoughtfully designed desk can communicate:

• Professionalism
• Stability
• Attention to detail
• Organisational standards

This is one reason premium office furniture remains important in leadership spaces, even as workplace design trends evolve.

How the Right Desk Impacts Productivity

The connection between workplace setup and productivity is now widely recognized across modern business environments.

Office furniture is no longer viewed purely as a visual choice. Businesses increasingly understand that functionality directly affects employee performance and well-being.

Supporting Focus and Workflow

A poorly designed workspace can create unnecessary distractions and inefficiencies.

An effective executive desk should support:

• Comfortable posture
• Efficient access to technology
• Clear document management
• Sufficient working space

These seemingly small details can significantly improve workflow over time.

Improving Office organisation

Disorganised workspaces often lead to lost time, reduced concentration, and unnecessary stress.

Executive desks with integrated storage and cable management systems help create cleaner working environments that support daily productivity.

Creating a Better Client-Facing Environment

Executive offices frequently function as meeting spaces. A professional and organised desk contributes to a more confident and credible business image during conversations with clients or stakeholders.

In many industries, workplace presentations still influence perceptions and trust.

Key Factors to Consider Before Buying an Executive Office Desk

Before purchasing executive office furniture, businesses should consider both immediate requirements and long-term practicality.

Office Size and Layout

Large executive desks can dominate smaller rooms and reduce movement within the workspace.

Before purchasing, businesses should evaluate:

• Available floor space
• Office traffic flow
• Storage requirements
• Seating arrangements
• Future office expansion plans

The desk should complement the room rather than overwhelm it.

Ergonomics and Employee Wellbeing

Workplace well-being has become a major priority for modern organisations. Comfortable and ergonomic furniture supports better posture and reduces physical strain during long working hours.

Many businesses now combine executive desks with ergonomic seating and adjustable workstation features to improve overall workplace comfort.

Technology Integration and Cable Management

Modern executive offices rely heavily on technology.

A suitable desk should accommodate:

• Multiple screens
• Charging systems
• Video conferencing equipment
• Cable routing solutions

Poor cable management can quickly make even premium office spaces appear cluttered and unprofessional.

Long-Term Value Versus Short-Term Cost

Budget considerations matter, but office furniture should be viewed as a long-term investment rather than a short-term expense.

Lower-cost desks may need to be replaced sooner, particularly in high-use environments. Higher-quality executive desks often provide better durability, functionality, and long-term value.

Common Mistakes Businesses Make When Choosing Office Furniture

Businesses sometimes prioritize appearance over functionality when purchasing executive furniture.

Some common mistakes include:

• Choosing desks that are too large for the space
• Ignoring ergonomic considerations
• Overlooking cable management needs
• Prioritizing low cost over durability
• Selecting styles that do not match the wider office environment

Avoiding these issues can improve workplace efficiency and the long-term value of furniture.

Final Thoughts

An executive office desk is not simply another piece of office furniture. It is a central component of leadership spaces that influences productivity, organisation, comfort, and professional image.

The best executive desks combine practicality, durability, and design, helping businesses create work environments that support both daily performance and long-term growth.

Whether furnishing a corporate headquarters, upgrading a private office, or designing a hybrid workspace, investing in the right executive desk can deliver meaningful value far beyond aesthetics alone.

American households saving money for their children’s educations can leverage tax-advantaged 529 accounts to make their dollars go further.

529 education savings accounts are typically opened by parents, guardians or grandparents for minor children and allow those savings to grow on a tax-deferred basis, and funds can be withdrawn tax-free when they’re used for qualified expenses. Individuals may also open 529 accounts to help save for their own education. 

“529s are the optimal vehicle for education savings,” Thomas Psaltis, director of education savings programs at Bank of America Merrill Lynch, told FOX Business in an interview.

“That growth in earnings, if used tax-free, can have a really significant impact on providing more money for education in the future for children and grandchildren, but also help combat the rising tuition costs,” he said.

BANK OF AMERICA’S LEGACY OF BUILDING THE AMERICAN DREAM

Man counting college savings fund, tuition fee or student loan with calculator. Education price and expenses concept. Money and papers on table. Calculating budget and planning finance. (iStock)

Psaltis said that aside from that core feature, 529 accounts offer other features that may not be available to those who use other tax-advantaged savings accounts.

“One of the game changers is the versatility of 529 accounts,” which he noted were traditionally designed for handling expenses at four-year colleges but have “grown significantly to go beyond just that.”

“Some of the recent legislation under the SECURE 2.0 Act and even as President Trump’s One Big Beautiful Bill has now allowed for the use of K-12 tuition, which has since been expanded under the One Big Beautiful Bill from $10,000 annually to $20,000 to be used for K-12 in private education, even if you’re not using them directly for college,” Psaltis said.

“We’re now including registered apprenticeships and credentialing programs as part of qualified expenses that can be used tax-free as well,” he added.

Psaltis said that advisors at Merrill Lynch encourage clients to focus on planning ahead, and that 529 plans can meet the education savings needs of clients at all income levels.

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Since their inception 30 years ago, the number of 529 plans has grown to 17 million accounts across the industry and has a total of more than half a trillion dollars in assets, he noted. Despite 529 plans being available to Americans for three decades, Psaltis added there are still some common misperceptions about how the accounts work.

“There’s this misconception that you have to fully fund college for a 529 plan to be worthwhile, and sometimes that perception can create unnecessary pressure and cause families to delay in getting started,” he said. 

“The biggest miss in that is the opportunity for that tax-free growth. Families who end up using taxable savings instead of a 529 may be giving up meaningful long-term returns that could be used tax-free,” Psaltis said.

529 accounts can be opened by parents for the children to use for college and trade school expenses. (Valerie Plesch for The Washington Post via Getty Images)

Contributions are considered taxable gifts, so individuals can contribute up to $19,000 per year, per beneficiary without facing a gift tax liability. 529 accounts may also be frontloaded with up to five years of giving all at once.

“Let’s say there’s grandparents that would typically gift $38,000 annually for their kids’ 529. The 529 code allows them to gift up to five times that – or $190,000 per beneficiary – in a single year,” he said. “The contributions that were moved and the future growth of those contributions are generally no longer part of that grandparent’s estate, so long as they live for the next five years it won’t be subject to a clawback or a prorated pullback.”

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In cases where a 529 account beneficiary may not be planning on attending college or an accredited vocational tech program, there’s no required distribution, so the funds could be held in the account in case they change their mind and decide to do so at a later date. 

Unused 529 funds may be reallocated to another beneficiary, or can be rolled over into an IRA to jump-start retirement. (iStock)

“Holding onto it indefinitely, that child that doesn’t initially go off to college, well, maybe in a few years they decide they want to further their education either through college or an accredited trade,” Psaltis said. “You can switch beneficiaries at any time and for whatever reason, so if there’s unused funds, those monies could be shared with siblings.” 

“If all else fails, and you have an account open for 18-plus years, there’s still other options,” he added. “One of the key features that has recently occurred over the past few years is the ability to roll over a portion of your 529 proceeds up to $35,000 into a Roth IRA on behalf of that beneficiary to sort of help jump-start their retirement, and that’s a really cool feature too.”

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“At the end of the day, they’re not locked into those monies. If for whatever reason they have to take that money back, they can always take that money back themselves, but just note that this would be treated as a non-qualified withdrawal and that account owner would be subject to income tax and a potential 10% federal tax penalty, but only on the earnings portion of the account,” Psaltis said.

For many UK businesses, sustainability has shifted from a long-term aspiration to an operational priority.

Customers are paying closer attention to environmental standards, investors are increasingly assessing ESG performance, and businesses themselves are seeking ways to improve efficiency amid continued economic pressure.

While conversations around sustainability often focus on energy use or supply chains, waste management remains one of the most immediate and practical areas where businesses can create measurable improvements.

For SMEs especially, refining waste processes can reduce costs, strengthen operational efficiency, and support broader environmental commitments without requiring major structural changes.

The Shift From Compliance to Business Strategy

There was a time when waste management was viewed primarily as a compliance obligation. Businesses arranged collections, met regulatory requirements, and treated disposal as a routine operational expense.

That mindset is changing.

Across the UK, businesses are recognizing that environmental responsibility increasingly influences reputation, customer trust, and long-term resilience. Research focused on UK SMEs has shown growing adoption of sustainability initiatives, particularly around reducing operational waste and improving recycling practices.

This shift is especially important for smaller businesses competing in crowded markets. Operational decisions that once stayed behind the scenes are now part of how brands are evaluated publicly.

Customers, suppliers, and stakeholders increasingly expect businesses to demonstrate practical environmental responsibility rather than broad promises.

The Hidden Cost of Poor Waste Practices

Many businesses underestimate the extent to which inefficient waste handling affects daily operations.

Overflowing bins, inconsistent recycling processes, and unclear disposal systems often create avoidable costs across multiple departments. General waste collections tend to be more expensive than properly separated recycling streams, while excessive contamination can lead to rejected loads and additional charges.

There is also a less visible operational impact.

Disorganized waste systems can create unnecessary inefficiencies for employees, increase storage issues, and contribute to poorer workplace environments. In sectors such as retail, hospitality, logistics, and manufacturing, waste management problems can quickly affect productivity and customer experience.

As sustainability expectations continue to rise, businesses that ignore these operational gaps may also face reputational risks. Organizations that fail to demonstrate meaningful environmental action can struggle to meet stakeholder expectations in increasingly sustainability-conscious markets.

Building a More Efficient Workplace Through Better Waste Management

Improving waste management does not necessarily require large-scale investment. In many cases, the most effective changes are procedural.

Businesses that achieve strong results typically focus on three areas:

• Clear separation systems for recyclable materials
• Consistent staff guidance and accountability
• Reliable collection partnerships

Cardboard, paper, plastics, and mixed recyclables all require different handling processes. Businesses that generate large amounts of packaging waste often benefit from introducing dedicated recycling streams rather than relying solely on general waste disposal.

Sometimes, companies reviewing their cardboard waste collection processes may find opportunities to reduce disposal frequency, improve recycling rates, and lower overall waste costs by better segregating waste and scheduling collections.

These operational improvements are particularly valuable for growing businesses where waste volumes increase alongside commercial activity.

The Role of Recycling in Modern Business Operations

Recycling is no longer viewed solely as an environmental initiative. It has become closely linked to operational efficiency and corporate accountability.

Businesses are under increasing pressure to measure and report sustainability efforts more clearly. Even SMEs that are not formally reporting against ESG frameworks are often expected to provide evidence of responsible operational practices when working with larger clients or procurement partners.

Efficient recycling systems support several commercial objectives at once:

• Reduced landfill dependency
• Lower waste management costs
• Improved environmental performance
• Stronger brand credibility
• Better alignment with supplier requirements

Material-specific recycling also matters more than many businesses realize. Paper and cardboard waste, for example, remain among the most recyclable commercial materials when separated correctly. However, contamination significantly reduces recovery effectiveness and increases processing challenges.

Businesses that build simple yet disciplined recycling systems tend to achieve stronger long-term outcomes than those that rely on reactive disposal methods.

Making Sustainability Practical for SMEs

One reason some SMEs delay sustainability initiatives is the assumption that environmental improvements require major investment or dedicated internal teams.

In reality, many operational gains come from relatively small adjustments.

Simple actions such as conducting a waste audit, reviewing collection frequency, improving signage around recycling points, or consolidating supplier arrangements can create immediate improvements without disrupting day-to-day operations.

The key is practicality.

Businesses that succeed with sustainability initiatives typically avoid overcomplicating the process. Instead, they focus on changes that employees can maintain consistently and that align naturally with operational workflows.

This pragmatic approach is becoming increasingly important as SMEs balance environmental goals with cost control and operational resilience.

In essence,

Sustainability is no longer separate from business performance. For many UK companies, especially SMEs, it is becoming part of how operational efficiency, customer trust, and long-term resilience are measured.

Waste management may not always receive the same attention as broader sustainability strategies, but it often represents one of the most accessible areas for meaningful improvement.

Businesses that refine their recycling systems, reduce unnecessary waste, and introduce more structured operational processes are often better positioned to improve efficiency while meeting rising environmental expectations.

In a business environment where both costs and accountability continue to increase, smarter waste management is quickly becoming less of an obligation and more of a competitive advantage.