CLEVELAND, March 13, 2025 /PRNewswire/ -- Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its fourth quarter of 2024 and full year ended December 31, 2024.Q4/Full Year 2024 Highlights: Quarterly net sales of $167.1 million, an increase of 15% from Q4 2023 and 14% from Q3 2024 Diluted EPS of $2.13, an increase of 65% from Q4 2023 and 38% from Q3 2024 Debt reduction of $33.7 million in 2024 due to strong cash generationNet sales in the fourth quarter of 2024 were $167.1 mil ...

Core Insights - The company reported annual results for 2024, achieving net sales of €1.002 billion, reflecting a decrease of 11.2% compared to 2023, attributed to challenging market conditions in the Homes and Decoration sector [5][6][23] - The company generated free cash flow (FCF) of €15 million in 2024, driven by strict control of working capital and cost savings of €45 million, despite a 10.2% decline in like-for-like sales [4][18] - The CEO emphasized ongoing transformation under the "Inspire Everyday" plan, aiming for a return to growth and a cumulative FCF of over €100 million from 2024 to 2026 [3][4] Financial Performance - Group sales for 2024 amounted to €1.002 billion, down from €1.128 billion in 2023, with like-for-like sales decreasing by 10.2% [5][6] - The gross margin improved to 64.0%, up 80 basis points from 2023, due to favorable freight costs and contributions from the Marketplace [12] - The net income for 2024 was -€115.3 million, a significant decline from a profit of €8.8 million in 2023, impacted by an €81 million impairment charge on historical goodwill [15][16] Operational Highlights - The company operated 338 stores at the end of 2024, including 14 managed by affiliates, and revamped 63 stores, with plans to reach a total of 100 revamped stores by the end of 2025 [4][9] - A loyalty program was launched in France in October 2024, and efforts were made to enhance the customer experience, resulting in a 4-point increase in Net Promoter Score (NPS) [4][18] - The company plans to simplify its operating model by reducing its SKU count by approximately 10% and cutting its supplier base by 50% by the end of 2025 [4][18] Debt and Liquidity - As of December 31, 2024, net financial debt excluding IFRS 16 was €85.1 million, a slight decrease from €90.4 million in 2023, with total gross debt at €175.2 million [19][20] - The company had around €200 million in liquidity and secured financing until April 2028, with adjustments to covenants accepted by banking partners [20][21] Future Outlook - The company anticipates visible effects from the "Inspire Everyday" plan in 2025, with a gradual return to growth expected [2][3] - The cost savings target has been increased to over €100 million over three years, with approximately €60 million expected during 2025-2026 [4][18]

LOS ANGELES, March 7, 2025 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Lineage, Inc. ("Lineage" or "the Company") (NASDAQ: LINE) for violations of the securities laws.The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Lineage has suffered from multiple analyst downgrades due to its soft 2024 financial ...

Core Viewpoint - Lineage, Inc. is discussing its fourth quarter and full year 2024 financial results during the earnings conference call, highlighting key financial metrics and future outlook [3]. Group 1: Company Overview - The conference call is led by Evan Barbosa, the Vice President of Investor Relations, along with Greg Lehmkuhl, the President and CEO, and Rob Crisci, the CFO [3]. - The earnings presentation, which includes supplemental financial information, is available on the company's investor relations website [3]. Group 2: Forward-Looking Statements - The company reminds participants that comments during the call will include forward-looking statements that are subject to various risks and uncertainties, which could lead to actual results differing materially from those expressed [4].

Lineage, Inc. (NASDAQ:LINE) Q4 2024 Earnings Conference Call February 26, 2025 8:00 AM ET Company Participants Evan Barbosa - VP, IR Greg Lehmkuhl - President and CEO Rob Crisci - CFO Conference Call Participants Alexander Goldfarb - Piper Sandler Ki Bin Kim - Truist Securities Ronald Kamdem - Morgan Stanley Nicholas Thillman - Baird Todd Thomas - KeyBanc Capital Markets Blaine Heck - Wells Fargo Steve Sakwa - Evercore ISI Michael Carroll - RBC Capital Markets Daniel Guglielmo - Capital One Securities Micha ...

Fourth Quarter 2024 FINANCIAL RESULTS February 26, 2025 Safe Harbor Statement Forward-Looking Statements. Certain statements contained in this Presentation, other than historical facts, may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Lineage operates, and beliefs of, and assumptions made by, the Company ...

Financial Performance - For the year ended December 31, 2024, the company generated $5.3 billion in revenue, with a net loss of $0.8 billion and Adjusted EBITDA of $1.3 billion[22]. - The total liquidity, including cash on hand and available revolver capacity, is $1.8 billion, supporting the company's external growth strategy[60]. - The company's 25 largest customers contributed approximately 32% of total revenues for the year ended December 31, 2024, with four customers each accounting for at least 2% of total revenues[185]. Operational Capacity - The company operates approximately 86 million square feet and 3.1 billion cubic feet of capacity across 488 warehouses, serving over 13,000 customers[22]. - As of December 31, 2024, the average occupancy rate across the portfolio was 83.4%, with North America having an economic occupancy of 84.0%[28]. - Approximately 75% of the company's global warehousing NOI was derived from distribution centers, with 46% from warehouses located near ports[49]. Segments and Revenue Sources - The Global Warehousing Segment represented approximately 87% of total net operating income (NOI), while the Global Integrated Solutions Segment accounted for 13%[26]. - Long-term contracts with major customers provide stability, with 44.0% of storage revenues subject to minimum storage guarantees[52]. - Approximately 44.0% of the company's storage revenues for the year ended December 31, 2024, were generated from agreements with customers that contained minimum storage guarantees[144]. Growth and Expansion - The company has executed 120 acquisitions over the last 17 years, with nearly two-thirds being proprietarily sourced, demonstrating a strong acquisition strategy[70]. - Recently completed greenfield and expansion projects include 3.3 million square feet of new facilities, targeting an NOI yield of 11%[72]. - The future long-term pipeline includes 15 projects globally, with an estimated construction cost of $1,652 million[78]. Technology and Innovation - The company has invested significantly in transformational technology initiatives, including the deployment of 82 fully and semi-automated facilities, which is expected to drive future growth[56]. - Lineage Link, a proprietary customer visibility platform, has been rolled out across approximately 75% of the network, enhancing inventory management and operational efficiencies[58]. - The in-house data science team has generated 133 patents issued and 164 patents pending, focusing on innovations that enhance operational efficiencies and profitability[68]. Sustainability and Energy - The company has installed capacity of 146 megawatts of solar energy as of December 31, 2024, as part of its sustainability strategy[88]. - The company aims to achieve carbon neutrality by calendar 2040, depending on the execution of operational strategies related to energy efficiency and onsite energy generation[194]. - The company anticipates that automated facilities can reduce energy intensity by approximately 20% compared to conventional facilities[88]. Workforce and Labor Relations - As of December 31, 2024, the company employed approximately 26,000 people worldwide, with 68.8% located in North America, 21.2% in Europe, and 10.0% in Asia-Pacific[106]. - Approximately 16% of the company's total team members are represented by various local labor unions and associations[106]. - Approximately 16% of the company's global workforce is represented by labor unions, which could lead to increased operating costs and disruptions if collective bargaining agreements are not favorable[132]. Risks and Challenges - The company is exposed to risks associated with expansion and development, which could result in returns below expectations and unforeseen costs[118]. - The company faces risks related to cybersecurity incidents that could disrupt operations and adversely affect financial conditions[21]. - The company is exposed to economic downturns in the temperature-controlled warehouse industry, which could adversely affect storage and handling fees[120]. Compliance and Governance - The company is classified as a "controlled company," allowing it to rely on exemptions from certain corporate governance requirements, which may affect shareholder protections[216][217]. - Significant costs are expected due to compliance with new regulations following the IPO, including legal, accounting, and insurance expenses[218]. - Implementation of internal controls over financial reporting is required, with substantial work anticipated to meet compliance standards[219]. Market Conditions - Inflationary pressures have risen to levels not seen in decades, impacting operating expenses such as labor, utility, and interest costs[126]. - Increased competition in the market may pressure the company to reduce rent and storage fees, impacting profitability[180]. - Supply chain disruptions may continue to negatively impact the availability of materials and transportation, affecting the company's operations[136].

Financial Performance - Total revenue for 2024 was $5.3 billion, flat compared to the prior year[7] - Adjusted EBITDA for Q4 2024 increased by 9.8% to $335 million, with an adjusted EBITDA margin of 25.0%, up 210 basis points[7] - AFFO for Q4 2024 increased by 147.7% to $213 million, with AFFO per share rising by 72.9% to $0.83[7] - The company reported a GAAP net loss of $751 million for the full year 2024, equating to a loss of $3.70 per diluted common share[7] - Net revenues for Q4 2024 were $1,339 million, a slight increase from $1,334 million in Q4 2023[20] - Net loss attributable to Lineage, Inc. for Q4 2024 was $71 million, compared to a net loss of $52 million in Q4 2023[20] - Comprehensive loss attributable to Lineage, Inc. was $286 million in Q4 2024, a significant decrease from a comprehensive income of $3 million in Q4 2023[20] - The company reported a net loss of $751 million for the year ended December 31, 2024, compared to a net loss of $96 million in 2023[20] - Net income for Q4 2024 was a loss of $80 million, compared to a loss of $57 million in Q4 2023, and a total loss of $751 million for the year 2024 versus a loss of $96 million in 2023[56] Assets and Liabilities - Total assets as of December 31, 2024, were $18.661 billion, a decrease from $18.871 billion in 2023[18] - Total liabilities decreased significantly from $12.849 billion in 2023 to $8.967 billion in 2024[18] - The balance of redeemable noncontrolling interests as of December 31, 2023, was $349 million, an increase from $298 million as of December 31, 2022[21] - The total liabilities for redeemable noncontrolling interests decreased from $349 million in 2023 to $43 million in 2024, indicating a reduction in financial obligations[23] - The balance of total equity as of December 31, 2024, was $9,651 million, up from $5,673 million in 2023, indicating growth in shareholder value[23] Operating Expenses - Total operating expenses increased to $1,360 million in Q4 2024 from $1,276 million in Q4 2023, representing a 6.6% increase[20] - Total operating expenses for the year ended December 31, 2024, were $5,701 million, up from $4,944 million in 2023, marking a 15.3% increase[20] - The company incurred $651 million in acquisition, transaction, and other expenses for the year ended December 31, 2024, compared to $60 million in 2023[20] - General and administrative expenses for Q4 2024 were $145 million, up from $141 million in Q4 2023, with total expenses for 2024 at $539 million compared to $502 million in 2023[56] - Acquisition, restructuring, and other expenses totaled $46 million in Q4 2024, up from $23 million in Q4 2023, with total expenses for 2024 at $542 million compared to $73 million in 2023[60] Cash Flow and Investments - Cash provided by operating activities decreased to $703 million in 2024 from $796 million in 2023, reflecting a reduction in operational efficiency[25] - Total cash used in investing activities was $919 million in 2024, down from $1,066 million in 2023, showing a decrease in capital expenditures[25] - The company reported a depreciation and amortization expense of $876 million in 2024, an increase from $760 million in 2023, indicating higher asset utilization[25] - Integration capital expenditures increased to $94 million in 2024 from $75 million in 2023[52] - External growth capital investments totaled $760 million in 2024, up from $741 million in 2023[54] Revenue Segments - Total global warehousing segment revenues for Q4 2024 were $980 million, a 0.5% increase from $975 million in Q4 2023[28] - Warehouse storage revenue decreased by 3.4% to $508 million in Q4 2024 from $526 million in Q4 2023[28] - Warehouse services revenue increased by 5.1% to $472 million in Q4 2024 compared to $449 million in Q4 2023[28] - Total global warehousing segment revenues for the year ended December 31, 2024, were $3,887 million, a 0.8% increase from $3,857 million in 2023[31] - Total same warehouse revenues declined by 1.4% to $3,344 million in 2024 compared to $3,390 million in 2023[38] - Non-same warehouse revenues increased by 16.3% to $543 million in 2024 from $467 million in 2023[43] - Global Integrated Solutions segment revenues decreased by 2.2% to $1,453 million in 2024 from $1,485 million in 2023[47] Performance Metrics - EBITDA for Q4 2024 was $176 million, down from $273 million in Q4 2023, with total EBITDA for 2024 at $466 million compared to $1.14 billion in 2023[57] - Adjusted EBITDA for Q4 2024 increased to $335 million, compared to $305 million in Q4 2023, with an annual total of $1.329 billion for 2024 versus $1.278 billion in 2023[60] - Total segment NOI for Q4 2024 was $435 million, slightly down from $438 million in Q4 2023, with a total of $1.765 billion for 2024 compared to $1.752 billion in 2023[56] - Adjusted EBITDA margin improved to 25.0% in Q4 2024 from 22.9% in Q4 2023, with an annual margin of 24.9% for 2024 compared to 23.9% in 2023[57] - Total non-same warehouse margin improved by 140 basis points to 36.3% in 2024 from 34.9% in 2023[43] Stock and Equity - The company declared a quarterly dividend of $0.5275 per share, representing an annualized dividend rate of $2.11 per share[7] - The company issued common stock in an IPO, net of equity raise costs, amounting to $4,879 million in 2024, compared to a negative $6 million in 2023[25] - Stock-based compensation expenses of $215 million in 2024, a substantial increase from $26 million in 2023, reflecting a shift in compensation strategy[25] - Stock-based compensation expense increased to $44 million in Q4 2024 from $7 million in Q4 2023, with total expenses for 2024 at $215 million compared to $26 million in 2023[60] Guidance and Future Outlook - The company expects full-year 2025 adjusted EBITDA to be between $1.35 billion and $1.40 billion, and adjusted FFO per share to be between $3.40 and $3.60[6] - The company cannot provide forward-looking guidance for Adjusted EBITDA and Adjusted FFO per share due to the unpredictable nature of reconciling items such as acquisitions and natural disasters[72] Operational Efficiency - Average occupied economic pallets decreased by 2.2% to 8,339 thousand in Q4 2024 from 8,525 thousand in Q4 2023[28] - Economic occupancy percentage dropped to 83.9% in Q4 2024, down 330 basis points from 87.2% in Q4 2023[28] - Average occupied economic pallets for the year ended December 31, 2024, were 8,175 thousand, a decrease of 1.4% from 8,292 thousand in 2023[31] - Average occupied economic pallets in non-same warehouses increased by 2.8% to 1,218 thousand in Q4 2024 from 1,185 thousand in Q4 2023[41] - Average physical occupied pallets in non-same warehouses increased by 1.8% to 1,118 thousand in Q4 2024 from 1,098 thousand in Q4 2023[41]

Core Insights - Carnival Cruise Line is set to open its new exclusive destination, Celebration Key, on July 19, 2025, with significant construction milestones achieved [1][6] - The destination will feature five distinct portals, each offering unique experiences, and emphasizes sustainability initiatives [3][7] Construction and Features - The Suncastle, a 10-story structure, serves as the centerpiece and gateway to the other areas, including family-friendly attractions and adult-only spaces [4][6] - Celebration Key will include various recreational options such as racing waterslides, an infinity pool, and a private artisan retail village [4][5] Sustainability Initiatives - Carnival has launched a "Plant a Tree" program, replanting about 1,000 sabal palms and focusing on preserving the local environment [5][7] - The destination will feature two expansive freshwater lagoons, the largest in the Caribbean, sustained by a desalination system [5] Economic Impact - The project has involved 28 Bahamian companies and aims to create jobs and stimulate economic development in Grand Bahama [6][7] - Approximately 500 workers are currently on-site daily to ensure timely completion for the summer opening [6] Future Plans - Celebration Key will be included in hundreds of Carnival itineraries across 20 ships, with sailings available into 2027 [8] - New offerings at Pearl Cove Beach Club will include beachfront daybeds, private cabanas, and exclusive Super Villas [7]

Core Concept - The Bazaar is a unique onboard experience designed to enhance the connection between ship and shore, allowing guests to immerse themselves in the cultures of the destinations visited during their cruise [2][3]. Group 1: Experience and Offerings - The Bazaar will feature four Caribbean destination-inspired festivals, each linked to specific ports of call, offering local food, crafting experiences, and entertainment [2][3]. - On sea days, the Market at The Bazaar will showcase local artisans and provide hands-on craft experiences, with offerings changing according to festival themes [3]. - New dining options at The Bazaar will include an open kitchen concept, Mosaic, serving elevated dishes inspired by the regions visited [4]. - The Chef's Table experience at Mosaic will offer a multi-course tasting menu featuring dishes from Celebrity's global culinary leadership team, paired with award-winning wines [5]. - Chef's Studio at Mosaic will serve as a cooking school where guests can learn to prepare regional delicacies, with the curriculum changing to reflect festival themes [6]. - A casual dining concept, Spice, will provide rotating bites inspired by the ports visited, featuring a scenic café setting [7]. Group 2: Guest Engagement and Customization - Celebrity Cruises is launching the Xcel 'Dream Makers' initiative, allowing guests to influence the onboard experiences, including culinary and entertainment options [8][9]. Group 3: Shore Excursions and Future Plans - Celebrity's shore excursions will offer diverse ways to explore local cultures, including Chef's Market Discoveries and Small Group Journeys led by local guides [10]. - The Royal Beach Club in Nassau, launching in late 2025, will provide an all-inclusive beach experience with local culture at its core [10]. - Celebrity Xcel will begin its inaugural season from Fort Lauderdale, offering itineraries to the Caribbean, and will transition to European sailings in Summer 2026 [11].