Core Insights - Waste Management Inc. reported earnings with EPS of $1.67, exceeding forecasts by $0.08, while revenue was $6.02 billion, falling short of the expected $6.14 billion but showing a 16.7% year-over-year increase [1][9] - The stock dipped about 1% post-report but quickly recovered, nearing its all-time high set in early April [2] - The company is recognized for its resilience against tariffs, being a leading provider of waste management services [3] Financial Performance - WM Healthcare Solutions, a key growth sector, contributed approximately 10% to the company's revenue in Q1, with a reported margin increase of about 20% [4] - Waste Management generated $475 million in free cash flow (FCF) for the quarter, maintaining a full-year FCF outlook of $2.68 billion to $2.78 billion [8] - The company's P/E ratio stands at 34.35, aligning with its historical averages, indicating consistent valuation trends [7] Growth Initiatives - The company launched two new automated recycling projects in Q1 and plans to open seven additional next-generation recycling plants in 2025, along with eight renewable natural gas facilities this year [5][6] - Waste Management's commitment to sustainability is evident in its initiatives that enhance the circular economy [6] Market Position - Analysts have a Moderate Buy rating on Waste Management, with a 12-month price target of $243.29, suggesting a potential upside of 4.15% [7][10] - The stock is currently viewed as being within the Neutral range on the Relative Strength Index, having reached overbought levels in April [10]

QUARTERLY INVESTOR PRESENTATION FIRST QUARTER 2025 2 May 1, 2025 SAFE HARBOR Forward Looking Statements This presentation contains forward-looking statements (including the guidance/outlook contained herein) within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words "estimates," "expects," "anticipates," "believes," "forecasts," "plans," "intends," "may," "will," "should," "shall," "outlook," "guidance," "see, ...

Economic Overview - Low to middle-income consumers are reducing spending to pay down credit card debt, while affluent consumers continue to spend selectively [1][2] - The economy is divided, with strong revenue and earnings growth reported by many companies despite market uncertainty [2] Company Analysis: Tapestry Inc. (TPR) - Tapestry is known for luxury accessories and lifestyle products, with a current stock price of $70.65 and a price target of $78.00, indicating a 12% upside potential [3][5] - The company reported record earnings per share of $2 in Q2 FY2025 and achieved a net paydown yield of 38% over the last 12 months [4][5] - Analysts have a Moderate Buy rating on TPR, with some price targets adjusted but remaining above the consensus price [5][6] Company Analysis: On Holding AG (ONON) - On Holding specializes in high-end footwear and apparel, with a current stock price of $48.11 and a price target of $58.77, suggesting a 23% increase potential [7][10] - The company uses over 30% recycled or renewable materials in its products, appealing to younger consumers [8] - Despite a recent double beat in earnings, ONON stock is down over 13% in 2025 due to concerns over exposure to China amid tariff issues [9][10] Company Analysis: Viking Holdings Ltd. (VIK) - Viking Holdings, a newcomer in the luxury cruise market, has a current stock price of $41.02 and a price target of $46.89, indicating potential growth [12] - The company is 88% booked for 2025 and does not anticipate cancellations due to market weakness, suggesting resilience in the cruise line industry [14] - Despite volatility typical of newly public companies, VIK stock has increased nearly 50% since its launch [14]

Core Insights - Aduro Clean Technologies Inc. has announced a strategic collaboration with Siemens Canada to integrate advanced control and data systems into Aduro's Next Generation Process Pilot Plant, aimed at advancing Hydrochemolytic™ Technology towards industrial readiness [1][3] Group 1: Collaboration Details - Siemens will supply its SIMATIC PCS neo distributed control system, which is a web-based platform providing centralized, secure, and scalable process control for the Pilot Plant [2] - The collaboration includes Siemens providing instrumentation, operator interfaces, and engineering services to support the commissioning and performance optimization of the Pilot Plant [2][5] - Siemens will also contribute technical input for the design of a future Demonstration Plant as part of the collaboration [2][5] Group 2: Technology and Process - Hydrochemolytic™ Technology developed by Aduro uses water as a reactive medium at moderate temperatures to cleave carbon bonds in polymers, offering a more controlled and efficient process compared to traditional pyrolysis [3][8] - The Pilot Plant is designed as a fully instrumented, continuous-flow unit to validate the Hydrochemolytic™ process under real-world conditions, providing essential data for future commercial facilities [3][4] Group 3: Strategic Importance - The partnership with Siemens enhances Aduro's ability to scale its chemical recycling solutions, aligning with the principles of a circular economy and supporting long-term growth [4][6] - Siemens' PCS neo platform will enable real-time visibility and control, which are critical for optimizing plant performance and facilitating the transition from pilot to commercial-scale operations [5][6]

Core Insights - KBR will support Samsara Eco in designing a pioneering enzymatic recycling plant for plastics and textiles, expected to be completed by early 2028 [1][2] - Samsara Eco's technology aims to create a continuous recycling loop for difficult-to-recycle materials, utilizing proprietary AI and patented enzymes to break down plastics into monomers [2][4] - The project will include a pre-FEED engineering phase by KBR, with plans for a facility capable of processing 20,000 metric tons of nylon 6,6 annually [3][4] Company Overview - KBR is committed to delivering sustainable technology solutions and has a workforce of approximately 38,000 across over 29 countries [6] - Samsara Eco, founded in 2021, focuses on infinite plastic recycling and has raised over AUD $150 million from various investors, including lululemon and Temasek [8] Technological Innovation - Samsara Eco's enzymatic recycling technology has successfully recycled challenging materials like nylon 6,6 and mixed fibers, contributing to a circular economy [2][4] - The company has already collaborated with brands like lululemon to produce products from recycled materials, including the first enzymatically recycled nylon 6,6 product [4][8]

Financial Performance - Nexa Resources reported a net income of US$29 million in 1Q25, reversing a net loss of US$12 million in 1Q24 and US$111 million in 4Q24, reflecting improved operating income and favorable foreign exchange impacts [2][3] - Adjusted EBITDA for 1Q25 was US$125 million, slightly down from US$128 million in 1Q24 and US$197 million in 4Q24, primarily due to higher costs and lower smelting sales volume [3] - Net revenues in 1Q25 were US$627 million, an 8% increase from US$580 million in 1Q24, driven by higher LME metal prices for zinc and copper, despite lower smelting sales volume [4] Operational Challenges - The company faced operational challenges due to atypical rainfall in Pasco and extreme precipitation in Aripuanã, impacting production stability [3][8] - Treated ore volume in the mining segment decreased by 10% year-over-year and 9% quarter-over-quarter, reflecting operational difficulties across multiple sites [7] - Zinc production in 1Q25 totaled 67kt, down 23% from 1Q24, primarily due to lower output across all units except Atacocha [10] Capital Expenditure and Strategy - CAPEX in 1Q25 totaled US$50 million, focused on sustaining investments, with full-year guidance remaining unchanged at US$347 million [5] - Nexa executed a US$500 million bond issuance in early April 2025 as part of a liability management strategy to extend debt maturity and optimize capital structure [6] - The company is advancing the Cerro Pasco Integration Project, aimed at improving operational efficiency and extending the life of the mining complex, with construction expected to begin in 2Q25 [15] Production and Sales - Zinc metal and oxide production totaled 133kt in 1Q25, representing a 4% decrease year-over-year and 12% compared to 4Q24 [12] - Zinc metal and oxide sales reached 130kt in the quarter, down 6% from 1Q24 and 14% from 4Q24, primarily due to lower production volumes [13] - Copper production in 1Q25 totaled 8kt, up 2% year-over-year, while lead production decreased by 31% year-over-year [11] ESG and Corporate Highlights - Nexa introduced its first fleet of hybrid loaders for underground mining in Peru, supporting its decarbonization strategy [16] - The company published its 2024 Annual Sustainability Report, highlighting environmental, social, and financial achievements [19] - Moody's affirmed Nexa's 'Ba2' rating and revised the outlook from 'negative' to 'stable', while S&P reaffirmed its 'BBB-' investment grade rating with a stable outlook [19]

Core Viewpoint - ESGL Holdings Limited has demonstrated a significant turnaround in FY2024, showcasing the potential for sustainability and profitability to coexist, supported by disciplined cost management and the introduction of new circular products [2][7]. Financial Performance - The company reported a near 100% reduction in net loss year-on-year, decreasing from US$95.0 million in FY2023 to US$0.6 million in FY2024 [7]. - Adjusted EBITDA improved by over 200%, rising from US$965,000 to US$2.3 million [7]. - Loss per share narrowed significantly from US$14.70 to US$0.02 [7]. Business Operations - ESGL has commenced commercial sales of several new circular products, including NEWSPAR, NEWEARTH, and NEWCHEM, developed through proprietary waste-to-resource processes [2]. - The company continues to scale its capabilities in sustainable waste treatment and circular product manufacturing, particularly in Southeast Asia [3]. Company Overview - ESGL Holdings Limited is focused on sustainable waste management solutions and operates through its subsidiary, Environmental Solutions (Asia) Pte. Ltd., based in Singapore [5].

Core Viewpoint - Lassila & Tikanoja plc reported a strong start to 2025, with improved adjusted operating profit despite a decrease in net sales, and is progressing with plans for a partial demerger to enhance shareholder value [3][6][49]. Financial Performance - Net sales for Q1 2025 totaled EUR 175.5 million, a decrease of 5.1% compared to EUR 185.0 million in Q1 2024 [10][8]. - Adjusted operating profit was EUR 2.7 million, significantly improved from EUR 0.0 million in the previous year, representing 1.5% of net sales [10][3]. - Operating profit improved to EUR 3.7 million from a loss of EUR 1.7 million in the previous year, with an operating margin of 2.1% [10][8]. - Net cash flow from operating activities after investments was EUR 6.6 million, an improvement of EUR 16 million from the comparison period [3][18]. Business Segments Circular Economy Business - Net sales for the Circular Economy Business were EUR 89.5 million, down from EUR 93.0 million, with adjusted operating profit slightly decreasing to EUR 2.5 million [11][13]. - Demand for recycling and waste management services in the construction industry decreased, but demand in hazardous waste remained stable [4][13]. Facility Services Facility Services Finland - Net sales decreased to EUR 58.3 million from EUR 63.3 million, but operating profit improved to EUR 2.1 million from a loss of EUR 0.1 million [14][15]. - Strong demand for digital services contributed to profitability improvements despite the decrease in net sales [5][15]. Facility Services Sweden - Net sales were EUR 28.3 million, down from EUR 29.5 million, with operating loss reduced to EUR -1.5 million from EUR -2.1 million [16][17]. - New customer contracts and ongoing efficiency measures are expected to support a turnaround in 2025 [5][17]. Strategic Developments - The company is planning a partial demerger to separate its circular economy and facility services businesses into two independent listed companies, which is expected to enhance shareholder value [6][49]. - An efficiency program was launched aiming for an annual performance improvement of at least EUR 8 million by the end of 2026 [52][48]. Sustainability and Personnel - The company reported a favorable development in its carbon footprint, attributed to increased use of renewable fuels and a mild winter [26][27]. - The average number of employees converted into full-time equivalents was 5,857, a decrease from 6,305 in the previous year [28][30]. Shareholder Information - The Annual General Meeting resolved to pay a dividend of EUR 0.50 per share, totaling EUR 19.1 million, on 7 April 2025 [24][42]. - The market capitalization at the end of the review period was EUR 319.7 million, down from EUR 335.9 million [32].

Core Insights - Dow Inc. reported first-quarter 2025 earnings that exceeded analysts' expectations, with adjusted EPS of $0.02 compared to an expected loss of $0.01, although revenue declined 3% year over year to $10.4 billion [1][2][5] Financial Performance - Adjusted EPS for Q1 2025 was $0.02, down 96.4% from $0.56 in Q1 2024 [3] - Revenue for Q1 2025 was $10.43 billion, slightly above the forecast of $10.24 billion but down 3.1% from $10.77 billion in Q1 2024 [3] - Net income for Q1 2025 was a loss of $290 million, compared to a profit of $538 million in Q1 2024 [3] - Adjusted operating EBIT fell to $230 million, a 66% decrease from $674 million in Q1 2024 [3] Business Overview - Dow operates in the materials science industry with a presence in 30 countries, focusing on segments like Packaging & Specialty Plastics, Performance Materials & Coatings, and Industrial Intermediates & Infrastructure [4] - The company emphasizes innovation and sustainability, targeting high-growth markets such as packaging and mobility [4] Segment Performance - The Packaging & Specialty Plastics segment experienced a 2% revenue drop, despite a 4% increase in volume due to higher licensing and hydrocarbon sales [6] - Industrial Intermediates & Infrastructure faced a 5% revenue decline and reported an operating EBIT loss of $128 million, primarily due to high energy costs [6] - Performance Materials & Coatings saw a 4% sales drop but achieved an $8 million operating EBIT improvement through reduced fixed costs [6] Strategic Initiatives - Dow has delayed its Path2Zero ethylene complex project in Alberta, Canada, to align spending with market conditions and has initiated cost-saving measures contributing approximately $6 billion in total cash support [7] - The company completed the sale of its flexible packaging laminating adhesive business to Arkema, marking a strategic optimization of its asset base [8] Future Outlook - Dow plans to continue its disciplined execution strategy and expand strategic partnerships while enhancing its focus on sustainable solutions [9] - The company aims to navigate pricing strategies, geopolitical factors, and sustainability advancements to strengthen its competitive position [9]

Core Insights - SaverOne 2014 Ltd. has signed a new commercial agreement with Cemex Czech Republic to deploy its Driver Distraction Prevention System (DDPS) across Cemex's cement truck fleet in the Czech Republic, marking an expansion of their collaboration in Europe [1][2][3] Company Overview - SaverOne specializes in developing transportation safety solutions, particularly focusing on preventing driver distraction caused by mobile phone usage while driving [5][8] - The company's technology aims to enhance road safety by preventing access to distracting applications while allowing necessary functions like navigation [5][6] Strategic Collaboration - The new agreement with Cemex follows a successful implementation of SaverOne's solutions in other European markets, including Israel [2][3] - Cemex emphasizes safety as a core value and is committed to adopting innovative technologies to protect drivers and communities [3][4] Market Potential - SaverOne targets commercial and private vehicle fleets, vehicle manufacturers, and insurance companies, with a focus on the Israeli, European, and US markets [6][8] - The anticipated EU regulations on monitoring and prevention of cellular distraction systems are expected to positively impact demand for SaverOne's technology [6] Technology and Innovation - SaverOne's system is designed to reduce the risk of accidents caused by mobile phone distractions, which are a leading cause of road accidents globally [5][6] - The company is also developing a sensor system for detecting vulnerable road users through their cellphone footprint [9]