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Third st Bancshares(TCBX) - 2025 Q1 - Quarterly Results
2025-04-23 20:20
Exhibit 99.1 News Release Contact: Ken Dennard / Natalie Hairston Dennard Lascar Investor Relations (713) 529-6600 TCBX@dennardlascar.com FOR IMMEDIATE RELEASE Third Coast Bancshares, Inc. Reports 2025 First Quarter Financial Results Year-over-Year Net Income Improved 31% and Diluted EPS increased 28% Net Interest Margin Expands to 3.80% and Book Value Per Share Increases HOUSTON – April 23, 2025 – Third Coast Bancshares, Inc. (NASDAQ: TCBX) (the "Company," "Third Coast," "we," "us," or "our"), the bank hol ...
QuantumScape(QS) - 2025 Q1 - Quarterly Results
2025-04-23 20:20
Exhibit 99.1 Q1 FISCAL 2025 LETTER TO SHAREHOLDERS April 23, 2025 Launch Program Update We continue to work closely with our prospective launch customer. As a reminder, this launch program is designed to be a low-volume but high-visibility project. It is intended to serve as a real-world vehicle demonstration, highlighting the exceptional performance characteristics of our technology platform as a step toward large-scale commercialization. The program is planned to unfold over multiple phases, with field te ...
Matador Resources(MTDR) - 2025 Q1 - Quarterly Results
2025-04-23 20:19
Asset Sale - Matador Resources Company announced the sale of its Eagle Ford assets on April 4, 2025[4] Financial Stability - The company provided an update on the strength of its balance sheet, indicating improved financial stability[4] - The press release detailing these updates is incorporated by reference into the current report[4]
Selective(SIGI) - 2025 Q1 - Quarterly Results
2025-04-23 20:18
Financial Performance - Gross premiums written for Q1 2025 reached $1,428.8 million, a 8.5% increase from $1,321.9 million in Q1 2024[8] - Net premiums written increased by 14% year-over-year to $1,240.4 million, compared to $1,089.6 million in Q1 2024[8] - Net income available to common stockholders for Q1 2025 was $107.6 million, compared to $80.2 million in Q1 2024, reflecting a 34.3% increase[8] - Non-GAAP operating income for Q1 2025 was $107.4 million, compared to $81.5 million in Q1 2024, marking a 31.8% increase[8] - Net investment income for Q1 2025 was $95.6 million, slightly down from $97.3 million in Q4 2024[16] - Net premiums earned reached $912.2 million, up from $834.1 million in the same quarter last year[22] - The company reported a GAAP underwriting income of $10.7 million, compared to $14.0 million in the prior year[33] - Net income available to common stockholders for Q1 2025 was $107.6 million, an increase from $93.2 million in Q4 2024[48] - Non-GAAP operating income for Q1 2025 was $107.4 million, compared to $99.6 million in the previous quarter[48] - The diluted earnings per share for Q1 2025 was $1.76, up from $1.52 in Q4 2024[48] Underwriting Performance - Underwriting income before tax improved significantly to $45.6 million, up from a loss of $173.7 million in Q2 2024[8] - The loss and loss expense ratio improved to 64.4% from 67.0% in Q1 2024, indicating better underwriting performance[8] - The GAAP combined ratio for Q1 2025 was 96.1%, a decrease from 98.2% in Q1 2024, showing improved operational efficiency[8] - GAAP underwriting income for Q1 2025 was $45.6 million, significantly up from $16.8 million in Q4 2024[19] - The combined ratio improved to 96.1% for Q1 2025, down from 98.5% in Q4 2024, indicating better underwriting performance[19] - The combined ratio improved to 96.4%, down from 98.8% in the same quarter last year, indicating better underwriting performance[22] - The loss and loss expense ratio decreased to 63.8%, compared to 66.7% in the prior year quarter[22] - The underwriting expense ratio was 32.5%, slightly up from 31.7% in the prior year quarter[22] - The combined ratio for the quarter was 92.5%, a slight improvement from 87.6% in the same quarter last year[33] - The loss and loss expense ratio decreased to 61.6% from 56.7% year-over-year[33] Asset and Liability Management - Total assets increased to $14,197.6 million, up from $12,056.1 million in Q1 2024, representing a growth of 17.7%[8] - Total assets increased to $14,197.6 million as of March 31, 2025, up from $13,514.2 million at December 31, 2024, representing a growth of 5.0%[13] - Total liabilities rose to $10,939.0 million as of March 31, 2025, from $10,394.1 million at December 31, 2024, an increase of 5.2%[13] - The company maintained a debt to total capitalization ratio of 21.7%, up from 14.3% in Q1 2024, indicating increased leverage[8] - The ratio of debt to total capitalization increased to 21.7% in Q1 2025, up from 14.0% in Q4 2024, indicating a higher leverage position[16] Investment Performance - Total investments increased to $10,288.6 million, up from $9,641.8 million, representing a growth of 6.7%[42] - Fixed income securities at fair value reached $8,630.0 million, accounting for 84% of total investments, consistent with previous quarters[42] - Short-term investments rose to $631.1 million, a significant increase of 24% compared to $509.3 million in the previous quarter[42] - Equity securities at fair value increased to $266.5 million, up from $213.6 million, reflecting a growth of 24.7%[42] - The weighted average credit quality of fixed income and short-term investments remained stable at A+[42] - The company holds $134.5 million in U.S. government obligations, which is 2% of total fixed income investments[42] - Private equity funds have a remaining commitment of $322.6 million, indicating ongoing investment strategies[43] - Total fixed income investments at carry value amounted to $8,888.2 million, showing a consistent trend across reporting periods[42] - The number of alternative investment funds is 99, with a total market value of $783.6 million[43] - The company maintains a non-investment grade credit quality of 3% within its fixed income and short-term investments[42] Pricing and Business Growth - Direct new business written was $251.3 million for Q1 2025, compared to $232.0 million in Q4 2024, showing growth in new business acquisition[19] - Renewal pure price increases averaged 10.3% in Q1 2025, slightly down from 10.7% in Q4 2024, reflecting stable pricing trends[19] - Direct new business written was $172.2 million, showing an increase from $172.1 million in the same quarter last year[22] - Renewal pure price increases averaged 9.1%, up from 7.6% in the prior year quarter[22] - Net catastrophe losses for the quarter were $19.8 million, compared to $38.5 million in the same quarter last year[22] - Net catastrophe losses for the quarter were $16.4 million, compared to a gain of $2.9 million in the prior year[33]
Molina Healthcare(MOH) - 2025 Q1 - Quarterly Results
2025-04-23 20:18
"Our first quarter results reflect our team's disciplined approach to medical cost management in an improving rate environment," said Joseph Zubretsky, President and Chief Executive Officer. "Our 2025 earnings and growth profiles are solid, and we remain confident in our ability to achieve our 13% to 15% long-term adjusted EPS growth target." News Release Investor Contact: Jeffrey Geyer, Jeffrey.Geyer@molinahealthcare.com, 305-317-3012 Media Contact: Caroline Zubieta, Caroline.Zubieta@molinahealthcare.com, ...
ARMOUR Residential REIT(ARR) - 2025 Q1 - Quarterly Results
2025-04-23 20:18
ARMOUR RESIDENTIAL REIT, INC. ANNOUNCES Q1 RESULTS AND MARCH 31, 2025 FINANCIAL POSITION VERO BEACH, Florida -- April 23, 2025 -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR PRC) ("ARMOUR" or the "Company") today announced the Company's unaudited Q1 results and March 31, 2025 financial position. ARMOUR's Q1 2025 Results ARMOUR's March 31, 2025 Financial Position - MORE - ◦ GAAP net income available to common stockholders of $24.3 million or $0.32 per common share. ◦ Net interest income of $36.3 million ...
Impinj(PI) - 2025 Q1 - Quarterly Results
2025-04-23 20:18
Exhibit 99.1 Impinj Reports First Quarter 2025 Financial Results SEATTLE, WA, April 23, 2025– Impinj, Inc. (NASDAQ: PI), a leading RAIN RFID provider and Internet of Things pioneer, today released its financial results for the first quarter ended March 31, 2025. "Our first-quarter execution was solid, with revenue and profitability exceeding our guidance," said Chris Diorio, Impinj co-founder and CEO. "We are managing our business with a steady hand, focused on extending our technology lead, market share an ...
Essential Properties(EPRT) - 2025 Q1 - Quarterly Results
2025-04-23 20:17
Financial Performance - First Quarter 2025 net income per share was $0.29, representing a 4% increase compared to the same period in 2024[2] - Adjusted Funds from Operations (AFFO) per share for Q1 2025 was $0.45, reflecting a 7% increase year-over-year[2] - Total revenues for the three months ended March 31, 2025, increased to $129,354,000, up 25.0% from $103,501,000 in the same period of 2024[27] - Net income attributable to stockholders for Q1 2025 was $56,108,000, representing a 19.0% increase compared to $46,975,000 in Q1 2024[27] - Basic net income per share rose to $0.30 in Q1 2025, up from $0.28 in Q1 2024, reflecting a 7.1% increase[27] - Funds from Operations (FFO) for Q1 2025 were $92,130,000, a 18.4% increase from $77,848,000 in Q1 2024[32] - Adjusted Funds from Operations (AFFO) per share for Q1 2025 was $0.45, compared to $0.42 in Q1 2024, indicating a 7.1% growth[32] Investment Activity - The company closed investments totaling $307.7 million at a weighted average cash cap rate of 7.8% during the first quarter[2] - The investment volume for 2025 is estimated to be between $900 million and $1.1 billion[13] - The company reported net proceeds of $24.3 million from the disposition of 11 properties during the first quarter[7] Portfolio and Asset Management - As of March 31, 2025, the investment portfolio consisted of 2,138 properties with a weighted average lease term of 14.0 years and a weighted average rent coverage ratio of 3.5x[5] - The weighted average occupancy rate of the portfolio was 99.7%[5] - Total assets as of March 31, 2025, increased to $6,056,913,000, compared to $5,798,682,000 as of December 31, 2024, marking a 4.5% increase[30] - The company’s total equity increased to $3,823,237,000 as of March 31, 2025, up from $3,572,127,000 at the end of 2024, a growth of 7.0%[30] - The company reported a total of 197,512,316 common shares outstanding and 553,847 OP units held by non-controlling interests as of March 31, 2025[41] Liquidity and Capital Structure - Total available liquidity as of March 31, 2025, was $1.5 billion, including $47.0 million in cash and cash equivalents[10] - The company raised $292.3 million through a follow-on offering at $31.00 per share and $20.6 million through its ATM program at $32.43 per share[2] - Total liabilities stood at $2,233,676,000 as of March 31, 2025, slightly up from $2,226,555,000 at the end of 2024[30] - The company’s net debt as of March 31, 2025, was $2,082,997,000, with a Net Debt to Annualized Adjusted EBITDAre ratio of 4.3x[39] Non-GAAP Financial Measures - The company utilizes non-GAAP financial measures such as FFO, Core FFO, and AFFO to provide insights into its operating performance, which are commonly used in the REIT industry[43] - FFO is defined as GAAP net income adjusted for extraordinary items, net gains or losses from sales of depreciable real estate assets, and real estate-related depreciation and amortization[44] - Core FFO excludes infrequent and unusual GAAP income and expense amounts, providing a clearer view of the company's core operations[45] - AFFO further adjusts Core FFO by including non-cash items and other adjustments, offering a supplemental measure for assessing operating performance[46] - The company calculates net debt by subtracting cash and cash equivalents from its gross debt, providing a clearer picture of its borrowed capital obligations[51] Operational Metrics - The company reported an annualized Adjusted EBITDAre of $488,428,000 for Q1 2025, reflecting strong operational performance[35] - NOI is computed as total revenues minus property expenses, while Cash NOI excludes non-cash items, reflecting property-level performance[52] - Adjusted EBITDAre, NOI, and Cash NOI are annualized estimates based on quarterly investment and disposition activity, providing insights into the company's current run rate[54] - Cash ABR represents the annualized contractually specified cash base rent for all leases as of the end of the current quarter[55] - The company defines the Rent Coverage Ratio as the ratio of tenant-reported annual EBITDA to the annualized base rental obligation, indicating financial health of tenants[58]
Moelis & pany(MC) - 2025 Q1 - Quarterly Results
2025-04-23 20:16
Exhibit 99.1 Moelis & Company Reports First Quarter 2025 Financial Results; Declares Regular Quarterly Dividend of $0.65 Per Share NEW YORK, April 23, 2025 – Moelis & Company (NYSE:MC) today reported financial results for the first quarter ended March 31, 2025. The Firm's first quarter revenues of $306.6 million increased 41% from the prior year period. The Firm reported first quarter GAAP net income of $53.8 million, or $0.64 per share (diluted). On an Adjusted basis, the Firm reported net income of $54.4 ...
RLI(RLI) - 2025 Q1 - Quarterly Results
2025-04-23 20:16
EXHIBIT 99.1 RLI REPORTS FIRST QUARTER 2025 RESULTS PEORIA, ILLINOIS, April 23, 2025 – RLI Corp. (NYSE: RLI) – RLI Corp. reported first quarter 2025 net earnings of $63.2 million ($0.68 per share), compared to $127.9 million ($1.39 per share) for the first quarter of 2024. Operating earnings(1) for the first quarter of 2025 were $84.9 million ($0.92 per share), compared to $87.4 million ($0.95 per share) for the same period in 2024. On January 15, 2025, RLI executed a two-for-one stock split of common stock ...