HOUSTON, Sept. 12, 2024 (GLOBE NEWSWIRE) -- 1PointFive, a wholly owned subsidiary of Occidental, announced today that the U.S. Department of Energy's Office of Clean Energy Demonstrations (OCED) will provide up to $500 million to support the development of the South Texas Direct Air Capture (DAC) Hub. The award is a milestone in furthering commercial-scale DAC in the United States and validation of Occidental and 1PointFive's ability to use their decades-long expertise in carbon management to accelerate the ...

Jetta Productions Inc While there is a freight recession that has significantly affected the financial results of freight and logistics providers, there are some companies that I believe hold compelling upside. Hub Group (NASDAQ:HUBG) is such a name. In May 2024, I initiated coverage for Hub Group with a buy rating and while the outperformance is not spectacular by any means, the stock returned 6.2% compared to a 5.4% for the broader markets. In this report, I will be discussing the most recent earnings whi ...

● . . | --- | --- | |---------------------------------------------------|-------| | | | | Tenet and Elite Times CPA Sign Strategic Alliance | | | Agreement to Bring 1,000 New SMEs and | | | Automated Bookkeeping to the Cubeler Business Hub | | August 14, 2024 7:30 AM EDT | Source: Tenet Fintech Group Inc. Toronto, Ontario--(Newsfile Corp. - August 14, 2024) - Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) ("Tenet" or the "Company"), an innovative analytics service provider, owner and operator of the ...

Financial Data and Key Metrics Changes - Hub Group reported revenue of $986 million for Q2 2024, a decline of 5% year-over-year and roughly in line with Q1 revenue of $999 million [15] - ITS revenue was $561 million, down 9% from the prior year, while logistics revenue was $459 million, an increase of 1% year-over-year [15][16] - Operating income margin for the quarter was 4%, an increase of 30 basis points over Q1, with ITS operating margin at 2.4% and logistics operating margin at 5.6% [17] Business Line Data and Key Metrics Changes - Intermodal volume grew 8% year-over-year, with a 12% increase over Q1, driven by strong demand in the East and Mexico [10][15] - Dedicated business saw top-line momentum but faced profitability challenges due to investments in customer service during peak demand [6][11] - Logistics segment experienced revenue growth of 1%, with strong performance in Final Mile services contributing to margin improvements [12][15] Market Data and Key Metrics Changes - The domestic freight market remains competitive with balanced demand and excess supply, impacting pricing and margins [3][4] - Local East volumes increased by 26%, while Transcon volumes were up 1% year-over-year, indicating regional variations in performance [10][42] - Brokerage business faced a volume decline for the first time in several quarters, but margin expansion was noted due to improved productivity [13][71] Company Strategy and Development Direction - The company is focused on operational investments and maintaining best-in-class service to navigate the challenging market [8][9] - Hub Group's diversification strategy aims to stabilize margins and deepen customer value, with ongoing cost management efforts [8][20] - The company is exploring acquisition opportunities to enhance service offerings and scale, having successfully integrated the Final Mile acquisition [50][51] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued challenges in the freight market, with pricing pressures expected to persist through 2024 [20][21] - The company expects intermodal volume growth in the high single digits for the full year, but pricing is projected to decline in the mid-single digits [21][22] - Positive signs of market recovery are noted, with potential for increased demand and pricing power if conditions improve [39][40] Other Important Information - Hub Group generated strong free cash flow of $119 million year-to-date and returned $48 million to shareholders through dividends and stock repurchases [19][20] - The company ended the quarter with cash on hand of $220 million and a net debt of $94 million, indicating a strong financial position [19][20] Q&A Session Summary Question: Can you walk us through the monthly intermodal volumes and July volumes? - April volumes were up 12%, May up 9%, June up 2%, and July up 14% year-over-year, with yield down 17% in the quarter [24][25] Question: What causes the expectation of lower earnings in the second half of the year? - The freight market is challenging with competitive pricing and excess capacity impacting intermodal and brokerage lines [27][28] Question: How is the Final Mile integration progressing? - The integration is more than halfway complete, with ongoing cost efficiencies and pipeline growth expected to continue into 2025 [34] Question: What are the conditions that will drive pricing power in the intermodal portfolio? - A strong peak season, improved demand, and capacity attrition are key factors that could enhance pricing power [38][39] Question: How is the brokerage side performing amid revenue losses? - The brokerage team has maintained a 50-50 split between contract and spot markets, allowing flexibility to respond to customer needs [71] Question: How is customer retention and service sensitivity being managed? - Customer retention has been strong, with high service sensitivity leading to minimal contract churn [73]

Project will accelerate state and national clean hydrogen economy Supports energy transition efforts for entire value chain DALLAS, Aug. 1, 2024 /PRNewswire/ -- Jacobs (NYSE:J) was selected as Program Manager for the Alliance for Renewable Clean Hydrogen Energy Systems (ARCHES), a public private partnership (P3) establishing a statewide clean hydrogen hub (H2) in California, one of seven national hubs announced by the White House and recently granted funding by the U.S. Department of Energy Office of Clean ...

● . ● Canstar Appointed as Member of Nevada Tech Hub as Critical Minerals Program Announces Initial US$21 Million Grant from U.S. Economic Development Administration Copper, lead and zinc are associated with Canstar's Buchans-Mary March Projects in central Newfoundland, which includes a joint venture with Glencore plc. The Company's Tech Hub membership is also expected to provide opportunities for engagement with policy makers, private sector leaders, and investors who are aligned with Canstar's mission of ...

OAK BROOK, Ill., July 18, 2024 (GLOBE NEWSWIRE) -- Hub Group, Inc. (Nasdaq: HUBG) will hold a conference call at 5:00 p.m. Eastern Time on Thursday, August 1, 2024, to discuss second quarter 2024 results. The results will be announced via press release after the market closes on the day of the call. An audio replay will be available through the Investors link on the Company's Web site at www.hubgroup.com. This replay will be available for 30 days. To participate in the conference call by telephone, please p ...

OAK BROOK, Ill., July 18, 2024 (GLOBE NEWSWIRE) -- Hub Group, Inc. (Nasdaq: HUBG) will hold a conference call at 5:00 p.m. Eastern Time on Thursday, August 1, 2024, to discuss second quarter 2024 results. The results will be announced via press release after the market closes on the day of the call. This call is being webcast and can be accessed through the Investors link on Hub Group's web site at www.hubgroup.com. The webcast is listen-only. Those interested in participating in the question-and-answer ses ...

This facility will be the first Ferguson shipping hub to service the New England region and was successfully completed on time and on budget. About Ferguson Enterprises, LLC Ferguson plc (NYSE: FERG; LSE: FERG) is a leading value-added distributor in North America providing expertise, solutions and products from infrastructure, plumbing and appliances to HVAC, fire, fabrication and more. We exist to make our customers' complex projects simple, successful and sustainable. Ferguson is headquartered in the U.K ...

Relative to incumbent technologies, the reduction in processing steps enabled by ReCRFT™ drives down manufacturing costs for lithium carbonate. "Our goal is to enable on-shore production of this critical mineral by reducing lithium processing costs," stated Dr. Ryan Jansonius, Telescope's VP of Chemistry Contract Services. "Ultimately, we aim to address the rapidly rising demand for battery raw materials, and support the global transition to clean energy. We believe our innovative approach and long-term goa ...