Valley National Bancorp(VLY) - 2025 Q1 - Quarterly Results
2025-04-24 12:04
Exhibit 99.1 News Release FOR IMMEDIATE RELEASE Contact: Travis Lan Mr. Robbins continued, "I am generally pleased with the quarter's results from a credit perspective. The provision for loan losses for the first quarter was at the lowest point in the last four quarters, and we anticipate further improvement throughout the remainder of the year. Non-accrual loans and early stage delinquencies also improved sequentially, and we believe our allowance coverage to total loans is at a comfortable level as of Mar ...
First Merchants (FRME) - 2025 Q1 - Quarterly Results
2025-04-24 12:03
These slides contain non-GAAP financial measures. For purposes of Regulation G, a non-GAAP financial measure is a numerical measure of the reqistrant's historical or future financial performance. financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows (or equivale ...
Amedisys(AMED) - 2025 Q1 - Quarterly Report
2025-04-24 12:02
Financial Performance - For the three-month period ended March 31, 2025, net service revenue increased to $594.8 million, up from $571.4 million in the same period of 2024, representing a year-over-year growth of approximately 4.4%[126] - Operating income for the same period rose to $43.4 million, an increase of $12 million compared to $31.6 million in 2024[126] - The gross margin improved slightly to 43.8% of revenue in 2025, compared to 43.7% in 2024[126] - Net income attributable to Amedisys, Inc. increased significantly to $61.0 million, compared to $14.4 million in the prior year, marking a growth of over 323%[126] Revenue Sources - The company derived approximately 69% of its consolidated net service revenue from Medicare for the three-month period ended March 31, 2025[113] - Total net service revenue for the home health segment increased by $15 million to $379.2 million, driven by a 5% growth in same store total volume and improved collections[130][133] - Operating income for the home health segment rose to $62.3 million, up from $60.8 million, primarily due to volume growth and increased Medicare reimbursement[130][131] - The hospice segment's net service revenue increased by $5 million to $206.2 million, with Medicare revenue growing by 4% year-over-year[136][139] - The high acuity care segment achieved a total admissions growth of 31%, with net service revenue rising to $9.4 million from $6.4 million[142][144] Expenses and Costs - Amedisys incurred $17 million in merger-related expenses for the three-month period ended March 31, 2025, down from $21 million in the same period of 2024[126] - General and administrative expenses for the corporate segment decreased by $6 million year-over-year to $63.5 million, including a $4 million reduction in merger-related expenses[147][148] - Cash used in operating activities was $3.7 million, a slight improvement from $6.5 million in the prior year, impacted by accounts payable and accrued expenses[149] - Cash used in investing activities totaled $1.4 million, down from $3.1 million, primarily for property and equipment purchases[150] - Cash used in financing activities increased to $13.3 million from $8.6 million, mainly due to repayment of borrowings[151] Legal and Regulatory Matters - The proposed merger with UnitedHealth Group is currently facing legal challenges, with a trial tentatively set to begin on October 27, 2025[116] - The Centers for Medicare and Medicaid Services (CMS) estimated a 2.9% increase in hospice payments for fiscal year 2025, effective October 1, 2024[123] - CMS also projected a 0.5% increase in payments to home health providers for the Calendar Year 2025[125] Cash and Debt Management - Cash and cash equivalents as of March 31, 2025, totaled $284.9 million, with $508.0 million available under the $550.0 million Revolving Credit Facility[154] - The company has no outstanding borrowings under the $550.0 million Revolving Credit Facility as of March 31, 2025, with a weighted average interest rate of 6.0% for the Amended Term Loan Facility[162] - A 1.0% change in interest rates would result in an approximate $3.4 million annual change in interest expense, based on $343.8 million of outstanding debt subject to interest rate fluctuations[166] - The Fourth Amendment to the Credit Agreement extended the maturity date of the Credit Facility from July 30, 2026, to July 30, 2027[160] Operational Challenges - The company experienced a cybersecurity incident affecting Change Healthcare, which delayed claim submissions but had minimal impact on Medicare claims[153] - The company expects continued operating losses in the high acuity care segment but anticipates improvements as it leverages its operating structure[143] - Inflation has materially impacted operations, particularly in labor and healthcare costs, with expectations for continued effects in 2025[164] Accounts Receivable - Patient accounts receivable increased by $24 million from December 31, 2024, with cash collection as a percentage of revenue at 97% for Q1 2025, up from 93% in Q1 2024[156] - Days revenue outstanding as of March 31, 2025, was 45.7 days, an increase of 2.7 days from December 31, 2024, but a decrease of 8.4 days compared to March 31, 2024[156] - Total patient accounts receivable as of March 31, 2025, was $319.6 million, compared to $296.1 million at December 31, 2024[158]
United Bankshares(UBSI) - 2025 Q1 - Quarterly Results
2025-04-24 12:00
EXHIBIT 99.1 News Release WASHINGTON, D.C. and CHARLESTON, WV-- United Bankshares, Inc. (NASDAQ: UBSI) ("United"), today reported earnings for the first quarter of 2025 of $84.3 million, or $0.59 per diluted share. The first quarter of 2025 was highlighted by record net interest income, net interest margin expansion, resumption of share repurchases, and the consummation of the previously announced acquisition of Atlanta-based Piedmont Bancorp, Inc. ("Piedmont") including completion of the systems conversion ...
P.A.M. Transportation(PTSI) - 2025 Q1 - Quarterly Results
2025-04-24 12:00
Exhibit 99.1 PAMT CORP ANNOUNCES RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2025 First Quarter 2025 Summary Results Tontitown, Arkansas, April 23, 2025...... PAMT CORP (NASDAQ: PAMT) (the "Company") today reported a net loss of $8.1 million, or diluted and basic loss per share of $0.37, for the quarter ended March 31, 2025. These results compare to net income of $0.3 million, or diluted and basic earnings per share of $0.01, for the quarter ended March 31, 2024. Operating revenues decreased 14.9% to $155 ...
Republic Bancorp(RBCAA) - 2025 Q1 - Quarterly Results
2025-04-24 12:00
Exhibit 99.2 EARNINGS RELEASE FINANCIAL SUPPLEMENT FIRST QUARTER 2025 TABLE OF CONTENTS | BALANCE SHEET DATA | S-2 | | --- | --- | | AVERAGE BALANCE SHEET DATA | S-3 | | TOTAL COMPANY AVERAGE BALANCE SHEETS AND INTEREST RATES | S-4 | | INCOME STATEMENT DATA | S-5 | | SELECTED DATA AND RATIOS | S-6 | | LOAN COMPOSITION | S-7 | | ALLOWANCE FOR CREDIT LOSSES ON LOANS | S-7 | | CREDIT QUALITY DATA AND RATIOS | S-8 | | SEGMENT DATA | S-9 | | FOOTNOTES | S-11 | S-1 Republic Bancorp, Inc. First quarter 2025 Earnin ...
Civista Bancshares(CIVB) - 2025 Q1 - Quarterly Results
2025-04-24 12:00
EXHIBIT 99.1 Civista Bancshares, Inc. Announces First-Quarter 2025 Financial Results of $0.66 per Common Share, up $0.25 per Common Share from First-Quarter 2024 Sandusky, Ohio, April 24, 2025 /PRNewswire/– Civista Bancshares, Inc. (NASDAQ:CIVB) ("Civista") today reported net income of $10.2 million, or $0.66 per common share, for the quarter ended March 31, 2025. CEO Commentary: "I was extremely pleased with our first-quarter earnings and performance. Our focus remains on staying disciplined in our loan an ...
MarineMax(HZO) - 2025 Q2 - Quarterly Results
2025-04-24 12:00
Sales ~ ~ Second Quarter Net Income of $3.3 Million; Adjusted Net Income 1 of $5.4 Million ~ ~ Second Quarter Adjusted EBITDA Increased to $30.9 Million ~ ~ Second Quarter Gross Margin of 30.0%; YTD Gross Margin of 32.7% ~ ~ Second Quarter Same-Store Sales Increase of 11% ~ ~ Company Updates Fiscal 2025 Guidance ~ ~ Earnings Conference Call at 10:00 a.m. ET Today ~ OLDSMAR, Florida, April 24, 2025 – MarineMax, Inc. (NYSE: HZO) ("MarineMax" or the "Company"), the world's largest recreational boat and yacht r ...
Union Pacific(UNP) - 2025 Q1 - Quarterly Results
2025-04-24 11:49
Financial Performance - Union Pacific reported Q1 2025 net income of $1.6 billion, or $2.70 per diluted share, compared to $1.6 billion, or $2.69 per diluted share in Q1 2024[2]. - Net income for Q1 2025 was $1,626 million, a slight decrease of 0.9% from $1,641 million in Q1 2024[19]. - Cash provided by operating activities increased to $2,210 million in Q1 2025, up 4.1% from $2,122 million in Q1 2024[19]. - Free cash flow for Q1 2025 was $468 million, down 11% from $525 million in Q1 2024[19]. Revenue and Expenses - Operating revenue for Q1 2025 was $6.0 billion, flat year-over-year, with a 7% increase in revenue carloads and a 4% increase in freight revenue excluding fuel surcharge[5]. - Total operating expenses were flat at $3.7 billion, with productivity improvements offsetting volume-related costs and inflation[15]. - Freight revenue from intermodal shipments increased by 10% to $1.2 billion, while automotive freight revenue decreased by 5% to $581 million[16]. Operational Metrics - The operating ratio remained flat at 60.7%, impacted by lower fuel prices and a leap year, with a 90 basis point unfavorable effect[6]. - Quarterly freight car velocity improved by 6% to 215 daily miles per car, while workforce productivity increased by 9% to 1,091 car miles per employee[11]. - Average train speed decreased by 2% to 23.7 miles per hour in Q1 2025, down from 24.1 miles per hour in Q1 2024[21]. - Total revenue ton-miles increased by 3% to 104,011 million in Q1 2025, up from 101,265 million in Q1 2024[21]. - Average fuel price per gallon consumed decreased by 11% to $2.51 in Q1 2025, down from $2.81 in Q1 2024[21]. Capital and Investments - The capital plan for 2025 is set at $3.4 billion, with share repurchases expected to be between $4.0 billion and $4.5 billion[11]. - Capital investments rose to $906 million in Q1 2025, compared to $797 million in Q1 2024, reflecting a 13.7% increase[19]. Balance Sheet - Cash and cash equivalents increased to $1.4 billion as of March 31, 2025, up from $1.0 billion at the end of 2024[18]. - Total assets rose to $68.5 billion, compared to $67.7 billion at the end of 2024, with total liabilities increasing to $52.5 billion[18]. - Debt increased to $32,842 million as of March 31, 2025, from $31,192 million at the end of 2024[23]. - Adjusted debt to adjusted EBITDA ratio improved to 2.8 in Q1 2025, compared to 2.7 in Q4 2024[24]. Outlook - Union Pacific affirmed its 2025 outlook, targeting earnings per share growth consistent with a 3-year CAGR target of high-single to low-double digits[11].
1st Source (SRCE) - 2025 Q1 - Quarterly Results
2025-04-24 11:48
Financial Performance - Record quarterly net income of $37.52 million, up 19.35% from the previous quarter and up 27.38% year-over-year [2] - Diluted net income per common share was $1.52, reflecting a 19.69% increase from the previous quarter and a 27.73% increase from the same quarter last year [4] - Net income available to common shareholders for Q1 2025 was $37,520, a 27.4% increase from $29,455 in Q1 2024 [35] - Basic net income per common share increased to $1.52 in Q1 2025, up from $1.19 in Q1 2024, marking a growth of 27.8% [35] - Net income available to common shareholders reached $37,520 thousand for the first quarter of 2025, compared to $31,438 thousand in the previous quarter, representing a growth of 19.8% [38] Asset and Loan Growth - Average loans and leases grew by $122.53 million, or 1.84%, from the previous quarter, and increased by $294.88 million, or 4.53%, year-over-year [12] - Total loans and leases amounted to $6,863,393 thousand as of March 31, 2025, slightly up from $6,854,808 thousand at December 31, 2024, indicating a growth of 0.13% [37] - Total assets increased to $8,963,114 thousand as of March 31, 2025, compared to $8,931,938 thousand at December 31, 2024, reflecting a growth of 0.35% [37] - Total assets increased to $8,856,278 thousand as of March 31, 2025, compared to $8,824,464 thousand at December 31, 2024, reflecting a growth of 0.36% [39] Deposit Growth - Average deposits increased by $187.39 million, or 2.62%, from the previous quarter, and grew by $322.44 million, or 4.60%, compared to the same quarter last year [13] - Total deposits rose to $7,417,765 thousand as of March 31, 2025, compared to $7,230,035 thousand at December 31, 2024, reflecting an increase of 2.6% [37] Income and Revenue - Tax-equivalent net interest income was $81.09 million, up 1.97% from the previous quarter and up 12.52% year-over-year [14] - Net interest income for Q1 2025 was $80,938, up 12.5% from $71,915 in Q1 2024 [35] - Noninterest income for the first quarter was $23.10 million, up 25.00% from the previous quarter and up 4.27% year-over-year [16] - Noninterest income rose to $23,103 in Q1 2025, a 4.3% increase from $22,156 in Q1 2024 [35] - Noninterest income increased to $23,103 thousand for the first quarter of 2025, compared to $18,482 thousand in the previous quarter, a significant increase of 25.5% [38] Efficiency and Ratios - Common equity-to-assets ratio improved to 12.96%, compared to 12.44% at the end of the previous quarter and 11.65% a year ago [23] - The efficiency ratio improved to 51.01% in Q1 2025, down from 51.77% in Q1 2024, indicating better operational efficiency [35] - The efficiency ratio (GAAP-derived) improved to 51.01% for the first quarter of 2025, down from 55.40% in the previous quarter, indicating enhanced operational efficiency [41] Capital and Equity - Total equity at the end of Q1 2025 was $1,220,542, an increase from $1,081,549 in Q1 2024, reflecting a growth of 12.9% [35] - Total common shareholders' equity increased to $1,161,459 thousand as of March 31, 2025, compared to $1,111,068 thousand at December 31, 2024, reflecting a growth of 4.53% [41] - Book value per common share (GAAP-derived) rose to $47.29 as of March 31, 2025, up from $45.31 in the previous quarter, indicating an increase of 4.37% [41] Allowance and Asset Quality - The allowance for loan and lease losses increased to $157.47 million, or 2.29% of total loans and leases, reflecting increased economic uncertainty [21] - The allowance for loan and lease losses was $157,470 at the end of Q1 2025, compared to $148,024 in Q1 2024, indicating a proactive approach to asset quality [35] - Nonperforming assets increased to $43,072 in Q1 2025 from $22,431 in Q1 2024, highlighting potential challenges in asset quality [35] Operational Developments - The company opened a new banking center in Carmel, Indiana, expanding its market presence [10]