Premier(PINC)
Search documents
Premier(PINC) - 2025 Q3 - Quarterly Report
2025-05-06 11:53
Financial Performance - Net revenue for the three months ended March 31, 2025, was $261.4 million, a decrease of 8.9% from $286.9 million in the same period of 2024[19] - Gross profit for the nine months ended March 31, 2025, was $544.8 million, down 14.2% from $635.3 million in the prior year[19] - Operating income for the three months ended March 31, 2025, was $33.8 million, compared to an operating loss of $77.6 million in the same period of 2024[19] - Net income attributable to stockholders for the three months ended March 31, 2025, was $27.1 million, compared to a net loss of $40.2 million in the same period of 2024[19] - Basic earnings per share from continuing operations for the three months ended March 31, 2025, was $0.32, compared to a loss of $0.36 in the same period of 2024[19] - Comprehensive income attributable to stockholders for the three months ended March 31, 2025, was $27.1 million, compared to a comprehensive loss of $40.2 million in the same period of 2024[19] - Net income for the nine months ended March 31, 2025, was $12,952,000, a decrease from $46,114,000 in the same period of 2024[25] - For the nine months ended March 31, 2025, net revenue was $749.790 million, a decrease of 10.3% from $835.763 million in the same period of 2024[104] Assets and Liabilities - Total assets decreased from $3,401,449 thousand as of June 30, 2024, to $3,071,792 thousand as of March 31, 2025, representing a decline of approximately 9.7%[17] - Total current liabilities increased from $746,563 thousand to $880,707 thousand, an increase of approximately 17.9%[17] - Total stockholders' equity decreased from $1,962,231 thousand to $1,522,985 thousand, a decline of approximately 22.4%[17] - The company reported accrued excise taxes related to the repurchase of Class A common stock amounting to $4.1 million for the nine months ended March 31, 2025, compared to $3.0 million for the same period in 2024[34] - The total liabilities from discontinued operations were reported at $386,000 as of March 31, 2025, down from $45.7 million as of June 30, 2024[39] Cash Flow and Investments - Net cash provided by operating activities from continuing operations was $307,780,000, compared to $160,864,000 in the prior year[25] - The company reported a net cash decrease of $53,819,000 for the period, with cash and cash equivalents at the end of the period totaling $71,327,000[25] - The company’s total investments in unconsolidated affiliates increased to $270.8 million as of March 31, 2025, up from $228.6 million as of June 30, 2024[40] - The deferred compensation plan assets were valued at $58.0 million as of March 31, 2025, compared to $61.2 million as of June 30, 2024[46] Expenses and Costs - Total operating expenses for the three months ended March 31, 2025, were $159.4 million, a decrease of 45.7% from $294.1 million in the same period of 2024[19] - The company incurred interest expense of $5.4 million for the three months ended March 31, 2025, compared to $2.4 million in the same period of 2024[19] - Operating lease expense for the three months ended March 31, 2025, was $1.7 million, down from $2.4 million in the same period of 2024[95] Shareholder Actions - The Company repurchased Class A common stock totaling $400,192,000 during the period[25] - The Company repurchased approximately 19.9 million shares of Common Stock at an average price of $20.12 per share under the 2024 ASR Agreement[79] - The Company completed a $200.0 million share repurchase program, acquiring approximately 9.5 million shares at an average price of $21.00 per share[80] - The Company declared a quarterly cash dividend of $0.21 per share, payable by June 15, 2025[85] Strategic Initiatives - The company is focusing on integrating artificial intelligence into its product offerings, which may enhance service delivery and operational efficiency[10] - Future acquisition opportunities are being evaluated, with potential risks associated with integration and financial performance[10] - The company plans to mitigate investment risks by investing in low-risk securities, as it does not expect significant impacts from interest rate changes[259] Discontinued Operations - The company incurred a loss on disposal of its direct sourcing subsidiary, S2S Global, amounting to $52.6 million[30] - For the nine months ended March 31, 2025, the company recorded a loss on disposal of S2S Global amounting to $52.6 million, classified under net (loss) income from discontinued operations[38] - The net revenue from discontinued operations for the nine months ended March 31, 2025, was $50.5 million, compared to $160.3 million for the same period in 2024, reflecting a decrease of approximately 68.5%[39] Goodwill and Intangible Assets - A pre-tax goodwill impairment charge of $126.8 million was recorded during the second quarter of fiscal year 2025 related to the Informatics and Technology Services reporting unit[62] - As of March 31, 2025, the Company had accumulated impairment losses to goodwill at Performance Services of $197.7 million, inclusive of current and prior period impairment losses[64] - The net carrying value of intangible assets as of March 31, 2025, was $240.6 million, down from $269.3 million at June 30, 2024[65] Debt and Financing - The Company had total debt and notes payable of $280.6 million as of March 31, 2025, which included $255.0 million under the Credit Facility[66] - The Credit Facility allows for borrowings of up to $1.0 billion, with a maturity date of December 12, 2027, and an effective interest rate of 5.668% on outstanding borrowings[67][69] - The company had $255.0 million of outstanding borrowings under its Credit Facility as of March 31, 2025, with a potential interest expense fluctuation of $2.6 million for a 1% change in interest rates[258]
Premier(PINC) - 2025 Q3 - Earnings Call Presentation
2025-05-06 11:15
Fiscal 2025 Third-Quarter Earnings Conference Call May 6, 2025 © 2025. ALL RIGHTS RESERVED. | PREMIER INC. | 1 Forward-Looking Statements and Non-GAAP Financial Measures Key Points Forward-looking statements – Statements made in this presentation and the accompanying webcast that are not statements of historical or current facts, such as those related to our ability to advance our business strategies and improve healthcare, our ability to transition to partners or wind down the remaining operations of Conti ...
Lamar Advertising Acquires Premier Outdoor Media
Prnewswire· 2025-05-05 11:30
Core Insights - Premier Outdoor Media has divested its out-of-home advertising assets to Lamar Advertising Company, although financial terms were not disclosed [1] - Premier, founded in 2018, significantly increased its digital display count by over 500%, establishing itself as the largest independent digital OOH network in the Philadelphia DMA [2] - The acquisition adds nearly 200 billboard faces, including 45 digital units, to Lamar's portfolio across key markets in New Jersey, Delaware, Maryland, Pennsylvania, and New York [3] Company Overview - Premier Outdoor Media was established through Caruth Capital Partners' acquisition of Jersey Premier Outdoor Media, LLC, with leadership from Dominick Vastino and Sean Corbett [2] - Lamar Advertising Company, founded in 1902, is one of the largest outdoor advertising companies in North America, operating over 360,000 displays across the U.S. and Canada [5] Strategic Implications - The acquisition enhances Lamar's position in the greater Philadelphia and New York markets and aligns with its strategy of adding high-quality, REIT-qualified assets [3] - Premier's leadership expressed confidence in Lamar's ability to continue delivering exceptional service to clients following the acquisition [3]
FEMSA: Mexico's Premier Conglomerate Is On The Right Track
Seeking Alpha· 2025-04-24 20:27
Fomento Económico Mexicano, S.A.B. de C.V. or ‘Femsa’ ( OTCPK:FMXUF ) is a Mexican holding company with several subsidiaries within the consumer space. At the time of writing, the biggest contributor to its market cap is its ~47% stake in the publicly listed bottling franchiseAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my o ...
SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Pacific Premier Bancorp, Inc. - PPBI
Prnewswire· 2025-04-24 19:58
Core Viewpoint - Monteverde & Associates PC is investigating the proposed merger between Pacific Premier Bancorp, Inc. and Columbia Banking System, Inc., highlighting the terms of the merger and the potential impact on shareholders [1]. Company Overview - Monteverde & Associates PC is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report and has successfully recovered millions for shareholders [1]. - The firm is headquartered in the Empire State Building, New York City, and specializes in class action securities litigation [2]. Merger Details - Under the merger agreement, Pacific Premier stockholders will receive 0.9150 shares of Columbia common stock for each share of Pacific Premier they hold, resulting in approximately 30% ownership of Columbia's outstanding shares for Pacific Premier shareholders [1].
Columbia Banking System to Acquire Pacific Premier Bancorp, Expanding the Premier Business Bank in the West
Prnewswire· 2025-04-23 20:04
Core Viewpoint - Columbia Banking System, Inc. will acquire Pacific Premier Bancorp, Inc. in an all-stock transaction valued at approximately $2.0 billion, creating a combined entity with around $70 billion in assets, positioning it as a market leader in the Western U.S. banking sector [1][2][5] Strategic Benefits - The merger establishes a leading banking franchise in the Western region, enhancing competitive positioning in Southern California and expanding service offerings [2][5] - The transaction accelerates Columbia's expansion in Southern California by about a decade, moving its deposit market share into a top-10 position [5] - Pacific Premier's specialized banking verticals, such as HOA Banking and Custodial Trust, will enhance Columbia's product offerings [5] - The combined company will continue to support local communities through volunteerism and charitable initiatives [5] Financial Benefits - The merger is projected to deliver mid-teens EPS accretion to Columbia, with tangible book value dilution expected to be earned back in three years [5][12] - The transaction is anticipated to create approximately $0.9 billion in value based on achievable cost synergies, with expected expense savings of $88 million after-tax [12] - The combined entity is positioned to achieve top-quartile profitability metrics, including an anticipated 20% ROATCE and 1.4% ROAA by 2026 [12] Company Overview - Columbia Banking System, Inc. is headquartered in Tacoma, Washington, and is the parent company of Umpqua Bank, which operates across multiple states in the Western U.S. [10] - Pacific Premier Bancorp, Inc. is a commercial bank focused on serving small to middle-market businesses throughout the Western U.S., with approximately $18 billion in total assets [11]
Lancaster Secures Premier Gold Project in one of Australia's Most Productive Mining Belts
GlobeNewswire News Room· 2025-04-23 14:20
VANCOUVER, British Columbia, April 23, 2025 (GLOBE NEWSWIRE) -- Lancaster Resources Inc. (CSE:LCR) (OTC Pink:LANRF) (FRA:6UF0) ("Lancaster"), is pleased to announce that it has signed a definitive Mineral Claim Purchase Agreement dated April 22, 2025 (the "Agreement") to acquire 100% of the Lake Cargelligo Gold Project (the "Project") in the famed Cobar mining district of New South Wales, Australia from Sunbird Resources Pty Ltd. and Mac Minerals Pty Ltd. The Project, which encompasses over 28,768 hectares ...
MasterCraft Boats of Utah Expands to St. George, Bringing MasterCraft's Premier Lineup of Towboats to Southern Utah
GlobeNewswire News Room· 2025-04-17 15:00
Core Viewpoint - MasterCraft Boat Company is expanding its operations by opening a new location in St. George, Utah, to enhance service accessibility for existing customers and attract new ones [1][2]. Group 1: Expansion Details - The new MasterCraft Boats of Utah location in St. George aims to provide a more convenient service option for customers, reducing travel time from Salt Lake City [1]. - St. George is identified as an ideal market due to its thriving boating community and favorable climate for year-round boating activities [2]. Group 2: Company Reputation and Experience - MasterCraft Boats of Utah has been a trusted dealer since 1999, recognized for its innovation and customer satisfaction, having received multiple awards over the years [3]. - The dealership's team has over 100 years of combined industry experience, emphasizing their commitment to expert guidance and premium service [3]. Group 3: Services Offered - The new location will provide a range of services including maintenance, repairs, a pro shop, on-water demonstrations, customer events, and boat storage [4]. - The staff will consist of industry leaders and MasterCraft experts, positioning the location as a premier destination for boaters in southern Utah [4]. Group 4: Marketing and Community Engagement - To introduce the brand to the local market, MasterCraft Boats of Utah plans grand opening celebrations, including demo days and community meet-and-greets [5]. - A comprehensive digital advertising campaign will be launched to increase brand awareness, alongside prominent signage to attract boating enthusiasts [5]. Group 5: Market Positioning - This expansion is part of MasterCraft's strategy to strengthen its market share in key regions, ensuring customers have access to high-quality boats and superior service [6]. - The company aims to enhance the overall boating experience for customers in St. George, reinforcing its position as the leading towboat brand [6].
Ascot Announces Closing of the Final Tranche of Private Placement, Raising Gross Proceeds of C$61.1 Million to Advance the Premier Gold Project Toward Production
GlobeNewswire News Room· 2025-04-10 13:12
Not for distribution to U.S. news wire services or dissemination in the United States. VANCOUVER, British Columbia, April 10, 2025 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce that it has closed the second and final tranche (the “Second Tranche”) of the previously announced private placement (the “Offering”) of charity flow-through units of the Company (the “CDE FT Units”) and hard dollar units of the Company (the “HD Units”, and togethe ...
Pacific Premier Bancorp: The Numbers Are On Its Side, But Keep An Eye On The Macroeconomic Factor (Rating Upgrade)
Seeking Alpha· 2025-04-03 03:11
Group 1 - The article discusses the recent performance of Pacific Premier Bancorp (NASDAQ: PPBI), noting a significant decline of 17% in its stock price since the last analysis [1] - The previous assessment highlighted the bank's soundness but did not recommend it as a buy due to its valuation not being attractive enough [1] Group 2 - The article does not provide any specific financial metrics or detailed analysis of the bank's performance or market conditions [2][3]