Group 1 - AST SpaceMobile (ASTS) is developing a space-based cellular broadband network that will work with standard mobile devices, leveraging its extensive IP and patent portfolio [1] - The Zacks Consensus Estimate for AST SpaceMobile's current year earnings has been revised downward by 75.6% over the last 60 days [1] Group 2 - Amplify Energy (AMPY) is involved in the acquisition, development, exploration, and production of oil and natural gas properties [2] - The Zacks Consensus Estimate for Amplify Energy's current year earnings has been revised downward by 37.4% over the last 60 days [2] Group 3 - Arcosa (ACA) manufactures infrastructure-related products and services for the construction, energy, and transportation markets [3] - The Zacks Consensus Estimate for Arcosa's current year earnings has been revised downward by almost 17.3% over the last 60 days [3]

Core Insights - Indosuez Wealth Management, a subsidiary of Crédit Agricole Group, has signed an agreement to acquire Banque Thaler, a Swiss banking institution known for its wealth management services [2][3] - This acquisition aligns with Indosuez's strategy to strengthen its position in the Swiss wealth management market, which is a global hub for such services [3] - The acquisition will enhance the product offerings and expertise available to clients of both Indosuez and Banque Thaler, leveraging Indosuez's international network and capabilities [4] Company Overview - Indosuez Wealth Management has been present in Switzerland since 1876 and aims to solidify its status as a major player in European wealth management [3][5] - Following the acquisition, Indosuez's assets under management are expected to reach nearly €50 billion, with total assets under management projected to be around €220 billion [5] - Banque Thaler, established in 1982, is recognized for its excellence in wealth management and focuses on a targeted client base, primarily serving families and entrepreneurs [14] Strategic Implications - The acquisition is part of a broader growth strategy in a consolidating sector, with Indosuez aiming to provide increasingly tailored solutions to its clients [5] - The transaction is subject to regulatory approval and is expected to be finalized in the second half of 2025 [5] - The impact on Crédit Agricole S.A.'s CET1 ratio from this acquisition is anticipated to be limited [6]

Further to the press release of December 6, 2024, Crédit Agricole S.A. informs that: As stated in the press release of December 6, 2024, the increase of its stake is consistent with Crédit Agricole's strategy as a long-term investor and partner of Banco BPM. Crédit Agricole S.A. does not intend to launch a public offer for the capital of Banco BPM. Press release Montrouge, April 2 , 2025 The European Central Bank authorizes Credit Agricole S.A. to increase Banco BPM stake to 19.9% Consequently, CRÉDIT AGRIC ...

As Arcosa, Inc. (NYSE: ACA ) exited the year, it delivered another quarter with double-digit topline growth, as its major segment, construction products, grew more than 30% during the quarter due to the recent Stavola acquisition. I expect this growth As a finance enthusiast with experience in research, I am deeply engaged in studying diverse businesses, especially in the technology, industrial, and conglomerate sectors. I really like companies that have strong foundations and see them doing well in the lon ...

DISCLAIMER This press release does not constitute an offer to buy or the solicitation of an offer to sell the Notes in the United States of America, Canada, Australia or Japan or in any other jurisdiction. The distribution of this press release in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required to inform themselves about, and to observe, any such restrictions. No communication or information relating to the redemption of the Notes may be dis ...

Core Points - Crédit Agricole S.A. has filed its 2024 Universal Registration Document and Annual Financial Report with the French Financial Market Authority (AMF) on March 24, 2025 [1] - The French version of the documents is available on the Crédit Agricole S.A. website and the AMF website [1] - The Registration Document includes the 2024 Annual Financial Report, a report on corporate governance, and information on fees paid to statutory auditors [3]

Group 1 - The company has initiated a share buyback program as part of a free share allocation plan, with transactions completed on March 18, 2025 [1] - On March 18, 2025, Crédit Agricole S.A. acquired a total of 186,838 shares at a weighted average price of €16.748231 [2] - Detailed information regarding the share buyback program is available on the company's official website [2]

Acquisitions and Business Expansion - The company completed the acquisition of Stavola Holding Corporation for $1.2 billion in cash, expanding its aggregates platform into the New York-New Jersey Metropolitan Statistical Area[22]. - Arcosa completed a significant acquisition of the construction materials business of Stavola Holding Corporation for a total purchase price of $1.2 billion in 2024[338]. - The company completed the sale of its steel components business in August 2024, which served the railcar industry[61]. Financial Performance - Arcosa reported revenues of $2,569.9 million for the year ended December 31, 2024, an increase of 11.3% compared to $2,307.9 million in 2023[343]. - The company's net income for 2024 was $93.7 million, a decrease of 41.2% from $159.2 million in 2023[343]. - Operating profit for 2024 was $197.6 million, down from $217.3 million in 2023, reflecting a decline of 9.9%[343]. - Interest expense increased significantly to $70.9 million in 2024, compared to $28.1 million in 2023, marking a rise of 152.4%[343]. - Total liabilities increased to $2,487.3 million in 2024 from $1,245.9 million in 2023, largely due to an increase in debt[346]. - Retained earnings rose to $748.9 million in 2024 from $664.9 million in 2023, reflecting the net income generated during the year[349]. - The company recognized a cash dividend of $9.7 million to common shareholders in 2024, consistent with the previous year[349]. - The company reported a net cash provided by operating activities of $502.0 million in 2024, significantly higher than $261.0 million in 2023[348]. Market and Demand Insights - In 2024, the company had shipments of approximately 38 million tons of aggregates and specialty materials, including about 5 million tons of recycled aggregates[26]. - Texas represented approximately 40% of the segment's revenues in 2024, with planned Texas Department of Transportation lettings of approximately $12.5 billion for the fiscal year[26]. - The Infrastructure Investment and Jobs Act (IIJA) authorized approximately $350 billion for federal highway programs from 2022 through 2026, benefiting the company's infrastructure construction segment[24]. - The company is the largest producer of recycled aggregates in the U.S., with operations in multiple states, and anticipates growth in this segment due to sustainability benefits[22]. - Approximately 90% of the asphalt mix produced is sold to external customers, strengthening the company's local market position[25]. Operational Challenges - Arcosa's operations are susceptible to delays in construction projects, which can lead to increased costs and inefficiencies[79]. - The company relies on a limited number of suppliers for certain raw materials, which may affect pricing and availability[90]. - The inability to hire and retain skilled labor may limit production rates and increase operational costs[85]. - Labor union agreements may result in strikes or work stoppages, potentially disrupting operations and increasing labor costs[87]. - Seasonal demand affects construction activity, with higher sales from spring through autumn and declines during winter months due to adverse weather conditions[77]. Risks and Compliance - Arcosa's operations are subject to significant fluctuations due to cyclical industries, which may lead to decreased demand for its products[114]. - The company is exposed to risks associated with the creditworthiness of its customers and suppliers, which could lead to reduced orders and increased operating costs[113]. - Arcosa's ability to secure adequate insurance coverage may be limited, which could have a material adverse effect on its financial condition[101]. - Compliance with extensive regulatory obligations in the U.S. and abroad is critical, as non-compliance could have a material adverse effect on Arcosa[141]. - Arcosa's operations are subject to various environmental regulations, and failure to comply could result in significant penalties and operational disruptions[142]. Backlog and Future Expectations - As of December 31, 2024, the backlog of firm orders for Engineered Structures was $1,190.8 million, down from $1,367.5 million in 2023, while Transportation Products backlog increased to $280.1 million from $253.7 million[47]. - Approximately 64% of unsatisfied performance obligations for utility, wind, and related structures are expected to be delivered during 2025, with 92% of inland barge obligations expected in the same year[47]. - Arcosa's backlog as of December 31, 2024, was approximately $1.2 billion in the Engineered Structures segment and $280.1 million in the Transportation Products segment[82]. Sustainability and Safety Initiatives - The company has launched various safety initiatives, including "ARC 100," to improve employee health and safety, resulting in reduced severity and frequency of incidents[52]. - Arcosa's sustainability initiatives may incur high costs and may not align with public sentiment, potentially affecting its reputation and business[159]. Debt and Financial Obligations - Arcosa's total debt as of December 31, 2024, was approximately $1.7 billion, with unused commitments of $699.3 million under its revolving credit facility[105]. - The increase in indebtedness year-over-year was primarily due to the closing of the Stavola acquisition, resulting in higher interest expenses[105]. - The company had $700.0 million outstanding on its Term Loan as of December 31, 2024, with an estimated interest expense increase of $7.0 million if interest rates rise by one percentage point in fiscal year 2025[322]. Revenue Segmentation - Revenues from GE Vernova constituted 10.8%, 8.1%, and 9.3% of consolidated revenues for the years ended December 31, 2024, 2023, and 2022, respectively[40]. - The Engineered Structures segment reported revenue of $1,047.3 million in 2024, up 19.9% from $873.5 million in 2023[359]. - The Transportation Products segment generated revenue of $417.6 million in 2024, a decrease of 3.1% from $433.5 million in 2023[359]. - The Inland barges segment reported revenue of $329.8 million in 2024, an increase of 17.6% from $280.2 million in 2023[359]. - The Construction Products segment's revenue increased to $1,105.1 million in 2024, up 10.4% from $1,001.3 million in 2023[359].

Financial Data and Key Metrics Changes - In 2024, Arcosa, Inc. achieved double-digit organic growth and significant margin expansion, driven by higher-margin businesses and divestitures of non-core assets [8][9] - The company generated nearly $200 million in free cash flow in Q4 2024, allowing for full repayment of its revolver, resulting in a net leverage of 2.9 times [16][29] - Full-year 2024 adjusted EBITDA growth was split evenly between organic and inorganic drivers, with a margin expansion of 408 basis points in Q4 [15][29] Business Line Data and Key Metrics Changes - Construction Products segment revenues increased by 31% in Q4, with adjusted segment EBITDA growing by 52%, largely due to the STAVOLA acquisition [18][19] - Engineered Structures revenues increased by 11%, with adjusted segment EBITDA rising by 41%, driven by higher wind tower volumes and the Ameren acquisition [23][24] - Transportation Products revenues were up 28%, with adjusted segment EBITDA doubling, supported by higher tank barge volumes and improved efficiencies [25][26] Market Data and Key Metrics Changes - The construction materials business accounted for approximately 62% of adjusted EBITDA, nearly double the contribution from 2018 [14] - The company ended the year with a combined backlog for utility, wind, and related structures of $1.2 billion, expecting to deliver 64% during 2025 [25] Company Strategy and Development Direction - Arcosa, Inc. is focused on growing in the U.S. market, supported by long-term infrastructure-led investments, while simplifying its portfolio through divestitures [34][36] - The company anticipates growth from construction materials, utility structures, and cyclical businesses, alongside contributions from organic projects and acquisitions [37][38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand for renewables, particularly wind energy, and the potential for infrastructure spending to drive growth [65][66] - The company expects revenues in 2025 to range from $2.8 billion to $3 billion, with adjusted EBITDA between $545 million and $595 million, implying 30% growth at the midpoint [38] Other Important Information - The company plans to reduce capital expenditures in 2025 to between $145 million and $165 million, focusing on maintenance and completing ongoing projects [30][88] - Depreciation, depletion, and amortization expenses are expected to range from $230 million to $235 million for 2025, primarily due to the STAVOLA acquisition [32][104] Q&A Session Summary Question: Impact of steel prices on revenues - Management indicated that the decline in steel prices primarily impacted engineered structures, resulting in a revenue miss of about $25 million in Q4 [55][56] Question: Wind outlook and customer sentiment - Management noted that customer demand for wind remains strong, with expectations for a flat year in 2026, pending regulatory clarity [66][68] Question: Construction products volume outlook - Management expects strong double-digit growth in total volumes for construction products, with organic volumes anticipated to be flattish to slightly up [80][85] Question: Contribution of organic projects to performance - Management highlighted that several organic projects completed in 2024 are expected to contribute positively to performance in 2025, including the concrete poles factory and wind tower facility [90][92]

Core Viewpoint - Arcosa reported quarterly earnings of $0.46 per share, missing the Zacks Consensus Estimate of $0.79 per share, representing an earnings surprise of -41.77% [1] - The company posted revenues of $666.2 million for the quarter, missing the Zacks Consensus Estimate by 4.03%, compared to $582.2 million in the same quarter last year [2] Financial Performance - Earnings per share (EPS) decreased from $0.68 a year ago to $0.46 this quarter [1] - Over the last four quarters, Arcosa has surpassed consensus EPS estimates three times [2] - The company has topped consensus revenue estimates two times over the last four quarters [2] Market Performance - Arcosa shares have lost about 3.5% since the beginning of the year, while the S&P 500 has gained 1.3% [3] - The current Zacks Rank for Arcosa is 4 (Sell), indicating expected underperformance in the near future [6] Future Outlook - The current consensus EPS estimate for the coming quarter is $0.57 on revenues of $631 million, and for the current fiscal year, it is $4.56 on revenues of $2.96 billion [7] - The estimate revisions trend for Arcosa is currently unfavorable, which may impact future stock performance [6] Industry Context - The Building Products - Miscellaneous industry, to which Arcosa belongs, is currently in the bottom 25% of over 250 Zacks industries, suggesting potential challenges ahead [8]