Southland Holdings (SLND) Q1 2025 Earnings Call May 14, 2025 10:00 AM ET Company Participants Alex Murray - VP of Corporate Development & IRFrank Renda - President & CEOKeith Bassano - CFOAdam Thalhimer - Director of ResearchJean Veliz - Senior Research Associate Conference Call Participants Julio Romero - Equity AnalystChristian Schwab - Senior Research Analyst Operator Good morning. My name is Chloe, and I will be your conference operator today. At this time, I would like to welcome everyone to the Southl ...

Southland Holdings (SLND) Q1 2025 Earnings Call May 14, 2025 10:00 AM ET Speaker0 Good morning. My name is Chloe, and I will be your conference operator today. At this time, I would like to welcome everyone to the Southland First Quarter twenty twenty five Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer there question you. Alex, you may begin your conference. Speaker1 Good morning, everyone, and we ...

Group 1 - Mr. Mavroudis is a professional portfolio manager specializing in institutional and private portfolios focusing on risk management and in-depth financial market analysis [1] - He invests in various financial instruments globally, including stocks, bonds, foreign exchange, and commodities, while restructuring investment portfolios based on prevailing conditions and client needs [1] - Mr. Mavroudis has successfully navigated major crises, including the COVID-19 pandemic and the PSI, demonstrating his expertise in risk management [1] Group 2 - He is the CEO of FAST FINANCE Investment Services, a registered Greek company by the Hellenic Capital Market Commission, indicating a strong regulatory compliance [1] - Mr. Mavroudis holds multiple advanced degrees and certifications, including an MSc in Financial and Banking Management, an LLM in Law, and various certifications from the Hellenic Capital Market Commission and Athens Stock Exchange [1] - His engagement with the Seeking Alpha community aims to foster mutual growth and knowledge sharing among investors and market enthusiasts [1]

Core Insights - The article emphasizes the importance of quantitative research, financial modeling, and risk management in identifying high-growth investment opportunities [1] - It highlights the significance of combining risk management with long-term value creation in investment strategies [1] Group 1: Expertise and Experience - The company has over 20 years of experience in equity valuation, market trends, and portfolio optimization [1] - Previous leadership roles include Vice President at Barclays, focusing on model validation and stress testing [1] - The expertise encompasses both fundamental and technical analysis, utilizing data-driven insights to assess market dynamics [1] Group 2: Investment Approach - The investment approach prioritizes risk management alongside long-term value creation [1] - There is a strong interest in macroeconomic trends, corporate earnings, and financial statement analysis [1]

Group 1 - The article highlights that when a stock is trading near its 5-year lows and is in a long-term downtrend, it indicates underlying issues with the company or market conditions [1] Group 2 - Mr. Mavroudis is a professional portfolio manager with expertise in risk management and financial market analysis, focusing on various financial instruments globally [2] - He has successfully navigated major crises, including the COVID-19 pandemic, and is actively involved in financial media and educational seminars [2] - Mr. Mavroudis holds multiple degrees and certifications, enhancing his credibility in the investment field [2]

Qualys Enterprise TruRisk Platform - Qualys is transforming its focus to deliver desired business outcomes leveraging risk analytics with the Qualys Enterprise TruRisk Platform[10, 12] - The Qualys Enterprise TruRisk Platform offers comprehensive risk reduction by eliminating cyber risk, saving time, reducing MTTR, and consolidating the IT-security stack[20, 21] - The platform provides one view across the entire global hybrid-IT environment, allowing customers to consolidate their stack for better security outcomes, with no hardware to buy or manage[31] Market Opportunity and Customer Base - Qualys estimates its current total addressable market at $55 billion in CY2025E, expanding to $79 billion in CY2028E[35] - Qualys has a blue-chip global customer base of over 10,000 subscription customers[37] - 72% of the Forbes Global 50, 55% of the Forbes Global 500, and 33% of the Forbes Global 2000 are Qualys' subscription customers[37] Financial Performance - Qualys' 2024 revenues reached $608 million, with an adjusted EBITDA of $283 million, representing a 47% adjusted EBITDA margin[45] - The company's Q1 2025 revenues were $160 million, with an adjusted EBITDA of $75 million, maintaining a 47% adjusted EBITDA margin[45] - Qualys generated $232 million in free cash flow in 2024[50] - The company's adjusted EBITDA margin of 47% in 2024 is higher than the peer median of 25% for select security and SaaS companies[53]

Mr. Mavroudis is a professional portfolio manager specializing in institutional and private portfolios. He focuses on risk management, which is accompanied by in-depth financial market analysis (fundamental, macro and technical) to control the risk undertaken by the portfolios. He invests in all financial instruments globally (stocks, bonds, fx, commodities), restructuring investment portfolios based on prevailing conditions and the needs of each client-investor. Mr. Mavroudis has successfully navigated all ...

Core Viewpoint - Oma Savings Bank Plc reported a challenging first quarter for 2025, with high costs and declining market interest rates negatively impacting financial results. The bank is focused on strengthening its operations and customer relationships moving forward [3][4][5]. Financial Performance - The comparable profit before taxes for Q1 2025 was EUR 4.6 million, a significant decrease from EUR 25.6 million in the same period last year [4][12]. - The cost/income ratio for the quarter was 54.4%, compared to 34.1% in the previous year, indicating increased operational costs [12][13]. - Net interest income fell by 18.3% year-over-year to EUR 46.9 million, primarily due to lower market interest rates [6][12]. - Total operating income decreased by 18.9% to EUR 60.1 million, while total operating expenses increased by 31.9% to EUR 34.2 million [12][13]. Cost Structure - The rise in costs is largely attributed to the implementation of the risk management action plan (Noste), which incurred total investments of EUR 11.6 million [5][12]. - Impairment losses on financial assets totaled EUR -22.3 million, with one-third related to updates in the expected credit loss (ECL) calculation model [8][12]. Customer and Market Position - The mortgage loan portfolio grew by 3.0%, the corporate loan portfolio by 0.4%, and the deposit base by 2.7% compared to the previous year [7][12]. - Customer satisfaction remains high, with the bank gaining 10,000 new customers following the acquisition of Handelsbanken [10][11]. Outlook and Guidance - The bank maintains its earnings guidance for 2025, expecting comparable profit before taxes to be between EUR 65 million and EUR 80 million, likely below the midpoint of this range [14][17]. - The ongoing economic uncertainty and declining market interest rates are expected to continue affecting the bank's performance [15][17].

Core Insights - Oma Savings Bank Plc reported a challenging first quarter in 2025, with high costs and declining market interest rates negatively impacting results [1][2] - The bank's comparable profit before taxes for Q1 2025 was EUR 4.6 million, a significant decrease from EUR 25.6 million in the same period last year [3][12] - The company is focused on strengthening its operations and customer relationships while addressing the challenges posed by increased costs and regulatory scrutiny [2][10] Financial Performance - The net interest income decreased by 18.3% year-on-year, totaling EUR 46.9 million, primarily due to lower market interest rates [5][13] - Total operating income fell by 19% compared to the previous year, amounting to EUR 60.1 million [12][13] - Total operating expenses increased by 31.9%, driven by costs associated with the risk management action plan and personnel growth [13][14] Risk Management and Provisions - Impairment losses on financial assets totaled EUR -22.3 million, with one-third related to updates in the expected credit loss (ECL) calculation model [7][13] - A provision of EUR 3.0 million was made in anticipation of potential sanctions from the Finnish Financial Supervisory Authority (FIN-FSA) due to identified deficiencies [8][15] Customer and Employee Engagement - Customer and employee satisfaction levels remain high, with the bank gaining 10,000 new customers following the acquisition of Handelsbanken [9][10] - The bank has a strong customer base of over 200,000 and continues to focus on providing personalized services [9][20] Outlook and Guidance - The company maintains its earnings guidance for 2025, expecting comparable profit before taxes to be between EUR 65–80 million, likely below the midpoint of this range [15][18] - The outlook is influenced by ongoing high costs related to IT investments and the uncertain economic environment [16][18]

Core Viewpoint - MGIC Investment Corporation reported strong financial results for the first quarter of 2025, demonstrating continued performance improvement and market leadership despite macroeconomic concerns [2][3]. Financial Performance - Net income for Q1 2025 was $185.5 million, or $0.75 per diluted share, compared to $184.7 million and $0.72 per diluted share in Q4 2024, and $174.1 million and $0.64 per diluted share in Q1 2024 [4]. - Adjusted net operating income for Q1 2025 was $185.2 million, or $0.75 per diluted share, reflecting a slight increase from $184.5 million and $0.72 per diluted share in Q4 2024, and $178.4 million and $0.65 per diluted share in Q1 2024 [4]. - New insurance written (NIW) was $10.2 billion in Q1 2025, down from $15.9 billion in Q4 2024 and up from $9.1 billion in Q1 2024 [4][20]. - Net premiums earned were $243.7 million, slightly up from $241.3 million in Q4 2024 and $242.6 million in Q1 2024 [4]. - The annual persistency rate was 84.7%, a slight decrease from 84.8% in Q4 2024 and 85.7% in Q1 2024 [4]. Capital and Liquidity - As of March 31, 2025, PMIERs available assets were $5.9 billion, with PMIERs excess at $2.6 billion [4]. - The holding company liquidity was reported at $824 million, down from $1,076 million at the end of Q4 2024 [4]. Shareholder Actions - The company repurchased 9.2 million shares for $224.3 million and an additional 2.8 million shares for $65.8 million through April 25, 2025 [7]. - A dividend of $0.13 per common share was declared, payable on May 21, 2025 [7]. Delinquency and Loss Metrics - Primary delinquency inventory stood at 25,438, down from 26,791 in Q4 2024 [4][24]. - The primary IIF delinquency rate was 2.30%, a decrease from 2.40% in Q4 2024 [4][24]. - Losses incurred, net, were $9.6 million, compared to $8.7 million in Q4 2024 and $4.6 million in Q1 2024 [4]. Market Position and Strategy - The company maintains a strong market position with robust capital and liquidity, allowing it to continue executing its business strategies and supporting customers with innovative solutions [2][3].