Financial Data and Key Metrics Changes - Revenues for Q1 were $130.4 million, with EBITDAR at $20.2 million, maintaining operating margins consistent with Q1 of the previous year despite challenges [4][5] - The impact of weather, leap year, and reduced sports betting revenue in Colorado was estimated to be around $2 million compared to Q1 last year [5] - Carded gaming revenue increased by 1%, while uncarded gaming revenue decreased by 2.5% across all U.S. properties [5] Business Line Data and Key Metrics Changes - In Missouri, the new Carratus property saw carded gaming revenue grow by 12% and uncarded revenue increase by 23%, leading to a total gaming revenue increase of 17% or $2.1 million compared to Q1 last year [6][7] - The Century Casino and Hotel in Cape Girardeau experienced a 5% increase in patrons and a 2% increase in trips, although gaming win was flat due to lower hold [12] - In Colorado, carded revenue grew by 7% in Central City, while uncarded revenue decreased by 36% [13][14] Market Data and Key Metrics Changes - Total visitor volume decreased by 3%, with a notable reduction in visits from the 50 age group, partially offset by a 1% increase from younger guests [6] - The number of patrons living more than 75 miles from the Carratus property increased by 34%, contributing to a 23% increase in total visitors [9] - In the East segment, high-end customers outperformed low to mid-tier customers, with gaming revenue from the upper segment increasing by 10% [16] Company Strategy and Development Direction - The company is focusing on expanding its market presence, particularly in Missouri, with plans for sports betting to go live towards the end of the year [13] - There is a commitment to operational discipline and efficiency improvements, with expectations for higher EBITDA and cash flow moving forward [24] - The company plans to balance a conservative CapEx program with returning capital to shareholders, including stock buybacks [28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving consumer behavior and spending patterns since mid-March, with April showing an estimated 5% increase in EBITDA compared to last year [25][26] - Despite economic uncertainties, management is more confident in the long-term prospects of the company than in the previous year [26] - The company does not anticipate significant competitive supply impacting its operations this year or next [27] Other Important Information - The company's cash and cash equivalents at the end of the quarter were $85 million, with a total principal amount of debt outstanding at €340 million [23] - The company expects to spend $4 million on growth projects and $14 million on maintenance CapEx this year [24] - The company is in discussions regarding the potential sale of its Polish operations, with two interested parties emerging [22] Q&A Session Summary Question: Have you noticed any softening in consumer behavior for your Canadian assets? - Management indicated that lower revenue is not significant and attributed it to weather and one less gaming day, expressing no concerns [33] Question: Can you provide an update on initiatives at Rocky Gap? - Management mentioned completed renovations and marketing initiatives targeting the Baltimore and Washington DC areas to attract higher net worth guests [36] Question: What has changed regarding year-end leverage targets? - Management noted a positive trend since mid-March but remained cautious about projecting this trend for the full year [44] Question: Are you looking to monetize your casino database in Alberta? - Management mentioned potential partnerships with the Alberta Gaming Commission for database sharing but did not see other opportunities at this time [48] Question: What is the strategy for revenue growth in Missouri? - Management confirmed a proactive approach to push revenue up while maintaining cost discipline, particularly targeting the 75+ mile customer base [55] Question: What is the timeline for the sale of Polish assets? - Management believes the sale could happen in 2025 but acknowledged previous misestimations regarding the timeline [57] Question: What is the capacity for stock buybacks? - Management indicated plans to start stock buybacks with a single-digit million dollar volume between now and the next earnings release [59]

Financial Data and Key Metrics Changes - Group revenue increased by 4.2% to $2.1 billion on a like-for-like basis, while adjusted EBITDA decreased by 2% to $104.8 million [4][5] - Adjusted net income was $33.1 million, with adjusted EPS down to $0.35 from $0.43 in Q1 2024, primarily due to the decrease in adjusted EBITDA [5][17] - The company announced a 6.25% increase in dividend to $0.85 per share, marking the first dividend increase since 2021 [5][23] Business Line Data and Key Metrics Changes - Fresh Fruit segment reported adjusted EBITDA of $63.3 million, exceeding expectations despite challenges from Tropical Storm Sarah [6][18] - Diversified EMEA segment achieved adjusted EBITDA of $27.7 million, with strong growth driven by the UK, Spain, and the Netherlands [9][19] - Diversified Americas segment saw a like-for-like revenue decline of 6.8%, primarily due to lower export pricing for Southern Hemisphere products [20] Market Data and Key Metrics Changes - North America experienced good volume growth in bananas, while European markets showed stable performance with volume growth in bananas and improved pineapple performance [8][9] - The company noted a favorable balance in supply and demand for bananas and pineapples, with expectations of robust demand continuing throughout the year [9] Company Strategy and Development Direction - The company is focused on exploring internal and external investment opportunities to drive growth, particularly in the Diversified EMEA segment [10][25] - Capital allocation will be influenced by the outcome of the fresh vegetable division's strategic review, with ongoing projects in automation technology and facility expansions [40][44] - The company aims to maintain a baseline capital expenditure of approximately $100 million while anticipating increased spending related to reinvestments in Honduras [25][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic challenges, revising full-year adjusted EBITDA guidance upwards to at least $380 million [24][52] - The company is monitoring evolving international trade dynamics and believes existing trade deals will remain favorable [24] - Management acknowledged potential short-term disruptions but emphasized the resilience of the business model [25] Other Important Information - The company completed a €1.2 billion refinancing of its credit facility, enhancing financial flexibility [5][21] - Free cash flow from continuing operations was an outflow of £131.6 million, primarily due to seasonal working capital trends [22] Q&A Session Summary Question: Follow-up on EBITDA guidance and tariff impacts - Management indicated that the EBITDA guidance reflects better-than-expected Q1 performance and considers current tariffs [28][29] Question: Fresh vegetables business exit strategy - Management is actively working on a strategic exit for the fresh vegetables business, emphasizing the complexity of the process [31][33] Question: Capital allocation policy and growth initiatives - Management stated that all capital allocation options are on the table, with a focus on internal development projects and potential acquisitions [39][41] Question: Performance drivers in Diversified Americas - Management highlighted strong performance in North American distribution and handling businesses, with a return to normal market conditions in South America [46][48] Question: Incremental CapEx for reinvestment in Honduras - Management estimated additional CapEx for reinvestment in Honduras to be around $10 million to $12 million, aimed at improving yields and flood protections [49]

Financial Data and Key Metrics Changes - Group revenue increased by 4.2% to $2.1 billion on a like-for-like basis, while adjusted EBITDA decreased by 2% to $104.8 million [4][5] - Adjusted net income was $33.1 million, with adjusted EPS at $0.35 per share, down from $0.43 in Q1 2024 [5][17] - The company announced a 6.25% increase in dividend to $0.85 per share, marking the first dividend increase since 2021 [5][23] Business Line Data and Key Metrics Changes - Fresh Fruit segment reported adjusted EBITDA of $63.3 million, exceeding expectations despite challenges from Tropical Storm Sarah [6][18] - Diversified EMEA segment achieved adjusted EBITDA of $27.7 million, with strong growth driven by the UK, Spain, and the Netherlands [9][19] - Diversified Americas segment saw a like-for-like revenue decline of 6.8%, primarily due to lower export pricing for Southern Hemisphere products [20] Market Data and Key Metrics Changes - North American operations showed good volume growth in bananas, with stable performance in Europe despite challenging pricing conditions [6][8] - The company noted a favorable balance in supply and demand for bananas and pineapples, with expectations of robust demand continuing throughout the year [9][10] Company Strategy and Development Direction - The company is focused on exploring internal and external investment opportunities to drive growth, particularly in the Diversified EMEA segment [10][42] - There is an ongoing evaluation of the fresh vegetables business, with a commitment to finding a strategic outcome that benefits all stakeholders [32][34] - The company aims to maintain a capital expenditure level in line with depreciation expenses, while also planning for increased CapEx related to reinvestments in Honduras [26][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic challenges, revising full-year adjusted EBITDA guidance upwards to at least $380 million [24][50] - The company is monitoring evolving international trade dynamics and believes existing trade deals will remain favorable [25][26] - Management highlighted the importance of a resilient and diverse business model in facing current economic volatility [24][50] Other Important Information - The company completed a €1.2 billion refinancing of its credit facility, enhancing financial flexibility [5][21] - Free cash flow from continuing operations was an outflow of £131.6 million, expected to unwind as the year progresses [22] Q&A Session Summary Question: Follow-up on EBITDA guidance and tariff impacts - Management acknowledged the complexity of forecasting in the current environment, attributing the guidance raise to better-than-expected Q1 performance and favorable foreign exchange translation [30][31] Question: Fresh vegetables business exit strategy - Management confirmed ongoing efforts to find a strategic exit for the fresh vegetables business, emphasizing the complexity of the process and the importance of stakeholder interests [32][34] Question: Capital allocation policy and growth initiatives - Management stated that all capital allocation options are on the table, with a focus on internal development projects and potential acquisitions [40][42] Question: Performance drivers in Diversified Americas - Management highlighted strong performance in North American distribution and handling businesses, with a return to normal market conditions in South America [46][47] Question: Incremental CapEx for Honduras reinvestment - Management indicated that additional CapEx for reinvestment in Honduras would be in the range of $10 million to $12 million, aimed at improving yields and flood protections [48]

| (unaudited, in millions of dollars, except share and exchange rate | Q1 | Q4 | Q1 | | --- | --- | --- | --- | | information) | 2025 | 2024 | 2024 | | Revenue | | | | | Lumber – Conifex produced | 31.3 | 21.2 | 29.5 | | Lumber – wholesale | 0.0 | 0.0 | 0.0 | | By-products and other | 6.3 | 2.3 | 3.0 | | Bioenergy | 7.0 | 7.6 | 8.2 | | | 44.6 | 31.0 | 40.7 | | Operating income (loss) | 2.3 | (3.0) | (7.1) | | EBITDA | 4.9 | (2.1) | (0.5) | | Net income (loss) | 0.6 | (7.8) | (4.5) | | Basic earnings (loss) ...

Core Insights - Planet Fitness, Inc. (PLNT) reported lower-than-expected first-quarter 2025 results, with adjusted earnings and revenues missing the Zacks Consensus Estimate, although both metrics increased year-over-year [1][4] - The company is facing macroeconomic volatility, increased costs, and expenses, particularly in SG&A and club operations [1][2] Financial Performance - Adjusted earnings per share (EPS) for Q1 2025 were 59 cents, missing the consensus estimate of 62 cents by 4.8%, while the prior-year quarter reported adjusted EPS of 53 cents [4] - Quarterly revenues were $276.7 million, lagging the consensus mark of $282 million by 1.7%, but rose 11.5% year-over-year due to new club openings and membership growth [4] - Adjusted EBITDA was $117 million, up 10% from $106.3 million reported in the year-ago quarter [5] Segment Performance - Franchise segment revenues rose 10.7% year-over-year to $115.2 million, with adjusted EBITDA of $84.9 million, up from $76.1 million [6] - Corporate-owned clubs generated revenues of $133.7 million, up 9.2% year-over-year, with adjusted EBITDA totaling $45.8 million, an increase from $42.4 million [7] - Equipment segment revenues totaled $27.8 million, up 28.7% year-over-year, with adjusted EBITDA rising to $7.4 million from $4.8 million [8] Cash and Debt Position - As of March 31, 2025, Planet Fitness had cash and cash equivalents of $343.9 million, up from $293.2 million at the end of 2024, while long-term debt decreased slightly to $2.14 billion [9] 2025 Outlook - For 2025, the company expects approximately 130-140 new equipment placements and 160-170 new club openings, with same-club sales growth projected in the 5-6% range [10] - Revenues are anticipated to increase approximately 10% from 2024 levels, with adjusted EBITDA and net income expected to grow around 10% and 8-9%, respectively [11] - Capital expenditures are now projected to increase approximately 20%, a revision from the previously expected 25% increase [12]

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $90 million with a margin of 11% for the first quarter, which was in line with the outlook of $85 million to $105 million [10][12] - Adjusted operating earnings were $0.68 per share, and free cash flow was lower than the previous quarter due to timing of payments and annual incentive compensation [10][12] - Free cash flow is expected to be heavily weighted to the second half of the year, with historical data showing nearly 90% generated in that period [10][11] Business Line Data and Key Metrics Changes - The company faced operational challenges in North America, impacting financial performance by approximately $10 million due to lower sales volume and operational costs [12][13] - Planned maintenance outage costs increased by $9 million due to major outages at specific mills [13][14] - Price and mix were unfavorable by $10 million, driven by lower pulp prices and paper price decreases in Europe, although partially offset by price increases in North America and Brazil [12][13] Market Data and Key Metrics Changes - In Europe, demand for uncoated freesheet decreased by 7% year-over-year, while Latin America saw a 3% increase, primarily driven by strong demand in Brazil [18][19] - North American apparent demand was down about 1% year-over-year, influenced by higher imports, which accounted for nearly 15% of overall supply [18][19] - The company anticipates real demand to decline by 3% to 4% for the year, with domestic industry supply reduced by 10% due to mill closures [19][20] Company Strategy and Development Direction - The company is focusing on improving its product mix and operational efficiency, particularly in Europe, where it plans to reduce costs and enhance capabilities at specific mills [22][23] - A new Senior Vice President and General Manager has been appointed to lead efforts in improving performance and customer relationships [22][23] - The company aims to leverage its global footprint to enhance product mix and customer service in North America while reducing exports to non-core markets [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about a global economic slowdown and potential inflation risks on raw materials and transportation costs, but believes these risks are manageable [24][25] - The company is well-positioned to navigate tariff uncertainties, with over 90% of raw materials sourced locally and minimal reliance on imports from China [26][27] - A significant improvement in adjusted EBITDA performance is expected in the second half of the year due to lower maintenance costs and improved commercial results [20][30] Other Important Information - The company has successfully reduced its debt by about half over the past three years, with a current leverage ratio of 1.1 times [28] - Capital allocation strategy focuses on maintaining a strong financial position while investing in business improvements and returning cash to shareholders [28][29] Q&A Session Summary Question: Can you provide more detail on the operational issues faced? - The operational issues were primarily reliability problems at the Ticonderoga and Eastover mills, with one intermittent issue expected to be resolved in the second quarter [36] Question: How do you expect to recover orders pushed into the third quarter? - The anticipated recovery in the third quarter could be less than $10 million, influenced by ongoing operational challenges and volume issues from the Riverdale mill [37][38] Question: What are the upgrades at SIAD and the market opportunities? - Upgrades at SIAD include investments in new capabilities to enter specialty segments, while opportunities at Newmola focus on improving operational efficiency and reducing wood costs [50][52] Question: How are tariffs affecting trade flows? - Tariffs have led to increased imports into the U.S. and decreased pulp prices in Europe, driven by reduced demand in China [57][58] Question: What is the outlook for capital spending for the year? - The company maintains its full-year capital spending guidance of $220 million to $240 million, with significant cash flow expected in the second half of the year [61][64]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q1 2025 was $35.2 million, up 21% from Q4 2024 and up 29% from Q1 2024 [6] - A non-cash gain of $120 million was recorded due to purchase accounting adjustments from the acquisition of a partner's 49.9% interest in Long Ridge [7] - Total debt reported was $2.8 billion as of March 31, with corporate level debt unchanged at $572 million [13] Business Line Data and Key Metrics Changes - TransStar reported adjusted EBITDA of $19.9 million, slightly up from $19.4 million in Q4 2024 [9] - Long Ridge generated $18.1 million of EBITDA in Q1, up from $9.9 million in Q4 2024, with a power plant capacity factor of 99% [15] - Jefferson's EBITDA was $8 million, down from $11.1 million in Q4 2024, impacted by four storage tanks being off lease [18] Market Data and Key Metrics Changes - TransStar's revenue was $42.6 million, with stable volumes despite uncertainties in global trade [14] - Long Ridge's March EBITDA run rate was over $10 million, indicating strong performance following recent transactions [10] - Repauno's Phase II project is expected to generate approximately $80 million of annual EBITDA upon completion [20] Company Strategy and Development Direction - The company aims for transformational growth in 2025, driven by Long Ridge activities and other strategic developments [7] - Focus on acquiring complementary railroads to diversify revenue and enhance growth opportunities at TransStar [15] - Long Ridge is exploring data center partnerships to generate additional EBITDA while maintaining existing power plant revenues [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the year ahead, citing strong performance and strategic opportunities [7] - The company is well-positioned to benefit from increasing energy exports to Europe, particularly through Repauno [35] - Management highlighted the potential for significant EBITDA growth from new contracts and operational improvements across business units [19] Other Important Information - A quarterly dividend of $0.03 per share was authorized, to be paid on May 27 [5] - The company is planning to refinance corporate bonds and existing preferred stock to reduce fixed charges and increase cash flow [13] Q&A Session Summary Question: Timeline for CABERON approvals after the public hearing - Management expects a typical thirty-day process post-hearing for approvals [24] Question: Types of data center deals at Long Ridge - Discussions involve leasing land and providing backup power to data center developers, potentially generating $70 million in incremental EBITDA [26] Question: Update on the Nippon deal and its implications - Management is optimistic about the Nippon acquisition of US Steel, which could positively impact TransStar [28] Question: Impact of tariffs on business - Management noted mixed effects, with some businesses positioned to benefit from changes in global trade dynamics [34] Question: Remaining capacity for contracting at Repauno - Limited additional capacity exists for Phase II, but Phase I has potential for increased utilization and additional EBITDA [40] Question: Incremental earnings from the 20 megawatt increase at Long Ridge - Expected to generate approximately $8 million of incremental EBITDA upon approval, likely in late 2025 [43] Question: CapEx requirements for TransStar's EBITDA growth - No significant additional capital required; growth will come from existing operations and new customer engagements [47]

Financial Data and Key Metrics Changes - The combined group achieved a record first quarter total revenue of $517 million, growing 25% year over year [9] - Adjusted EBITDA also reached a record of $111 million, increasing by 120% year over year, with a combined margin of approximately 22% [9] - Total revenue excluding the U.S. was $502 million, growing 24% year over year, while adjusted EBITDA excluding the U.S. grew 62% to $121 million with a margin of 24% [10] Business Line Data and Key Metrics Changes - Sports betting revenue increased by 7% year over year, while casino revenue grew by 23% year over year [9] - In Africa, revenue grew by 54% year over year, with casino and sports up 31% and 38% respectively [11] - Europe saw a 53% year-over-year increase, with the UK up 87% and Spain up 20% [12] Market Data and Key Metrics Changes - Canada grew 13% year over year, with Ontario up 2% and the rest of Canada up 16% [12] - APAC was down 13% year over year due to currency weakness and market closures, with New Zealand showing a 7% decline in dollar terms [13] Company Strategy and Development Direction - The company is focused on enhancing technology and product offerings while maintaining a disciplined cost structure to drive sustainable margin expansion [14] - The U.S. iGaming business is progressing with plans for breakeven expected in 2027, and the introduction of new brands like Spin Palace Casino [15][16] - The company is maintaining its guidance for fiscal year group revenue of greater than $2 billion and adjusted EBITDA of greater than $421 million [17] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the progress in the U.S. market and highlighted the importance of product and marketing efficiencies [21][24] - The company sees significant growth potential in Africa, particularly in new markets like Botswana, Nigeria, and others [30][32] - Management emphasized the importance of maintaining a strong marketing budget to compete effectively in various markets [58] Other Important Information - The company ended the quarter with unrestricted cash of $351 million and no debt, highlighting a strong free cash flow profile [16] - A quarterly dividend of $0.04 per share was declared, resulting in $20 million paid to shareholders [16] Q&A Session Summary Question: What is working in sports betting and how does the company view competition in the U.S.? - The company highlighted product development and effective marketing as key drivers of engagement, noting that 80% of the business is casino-related [21][22][24] Question: How does the company plan to approach the Alberta market? - The company plans to apply lessons learned from the Ontario launch and is prepared for potential regulatory changes [26] Question: What is the growth outlook for Africa and the competitive landscape in Nigeria? - Management noted strong growth across various African markets and emphasized the need for localized products in Nigeria [30][32] Question: How does the company differentiate its brands like Jackpot City? - Jackpot City has a strong brand presence and resonates well with customers, differentiating it from other offerings [35] Question: What is the company's strategy regarding new market entries and potential M&A? - The company is open to both organic growth and acquisitions, emphasizing the need for the right fit and pricing [86]

Core Insights - Yelp Inc. reported a strong first-quarter 2025 performance with earnings jumping 80% to 36 cents per share, exceeding the Zacks Consensus Estimate by 16.1% [1] - The company's revenues increased 8% year over year to $359 million, surpassing the consensus mark by 1.8%, primarily driven by growth in advertising revenues from Services businesses [2] Financial Performance - Advertising revenues, which constitute 95.2% of total revenues, rose 8% year over year to $342 million, mainly due to increased revenues from Yelp ad products and the RepairPal Network [3] - Advertising revenues from the Services business grew 14% year over year to $232 million, while the RR&O division saw a decline of 3% to $110 million due to macroeconomic challenges [4] - Total costs and expenses increased 2% year over year to $322 million, with adjusted EBITDA climbing 32% year over year to $85 million, resulting in an adjusted EBITDA margin increase to 24% from 19% [6] Balance Sheet and Cash Flow - As of March 31, 2025, Yelp had cash, cash equivalents, and short-term marketable securities totaling $324 million with no debt [7] - The company generated an operating cash flow of $98 million and free cash flow of $87.5 million in the first quarter [7] Guidance - Yelp updated its full-year 2025 revenue guidance to a range of $1.465 billion to $1.485 billion, with adjusted EBITDA expected between $345 million and $365 million [8] - For the second quarter of 2025, Yelp anticipates revenues between $362 million and $367 million, with adjusted EBITDA projected in the range of $84 million to $89 million [9]

Full House Resorts (FLL) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Speaker0 Afternoon, ladies and gentlemen, and welcome to the Full House Resorts First Quarter twenty twenty five Earnings Call. At this time, all lines are in listen only mode. Following the presentation, we will conduct a question and answer session. This call is being recorded on Thursday, 05/08/2025. I would now like to turn the conference over to Adam Campbell. Please go ahead. Speaker1 Thank you. Good afternoon. Welcome to our firs ...