Waters (WAT) Q1 2025 Earnings Call May 06, 2025 08:00 AM ET Speaker0 Good morning. Call is being recorded. If you have any objections, please disconnect at this time. It is now my pleasure to turn the call over to mister Caspar Tudor, head of investor relations. Please go ahead, sir. Speaker1 Thank you, Leila, and good morning, everyone. Welcome to Walters Corporation's first quarter earnings call. Joining me today are doctor Udit Batra, our president and chief executive officer and Amol Chawwal, our senior ...

DIGITAL INDUSTRIES SOFTWARE 在半导体元器件生命 周期管理中使用质量 管理方法 利用 PLM 平台上的原生 QMS 工具交付复杂的产品，同时简化价值链 siemens.com/software 半导体行业未来趋势 在半导体行业发展速度如此之快的情况下，调整和变革的必要性变得越来越明显。 可持续性 新兴技术 安全的数字化转型 全球化 以典范做法应对关键行业挑战 将质量相关信息左移，以避免在产品生命周 期后期出现成本高昂且耗时的质量相关问题。 周期性的芯片短缺和避免市场过度饱和的需 求促使制造商在发生中断时依赖更多合格的 零件和供应商。 支持从开发到生产的快速产品进步，以获得 创建新迭代的关键要点。 缩短上市时间 不稳定的芯片可用性 创新以保持竞争力 利用数字化解决方案连接孤岛 在不断变化的市场需求、急剧增加的竞争压力和资源限制的情况下，您需要持续改进核心流程。您需要在半导体生命周期管理中采用新 的策略来简化开发、提高生产力并保持质量。 适应复杂多变的市场绝非易事。依靠闭环质量策略来应对当今的半导体挑战非常有用。 在设计阶段管理质量 在设计过程的早期提高质量优先 级，以确保创新设计并满足 ...

30 April 2025 | 11:37AM HKT 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 COSCO Shipping Energy (1138.HK) 1Q25 results missed on a lower freight rate with cost increase; restocking remains the market focus COSCO Shipping Energy's share prices (A/H) have retreated by 10%/3% YTD (vs. +11%/-4% for HSCEI/CSI 300), likely reflecting the missed freight rate and the implied potential dilution of 17% (see calculation below) under the terms of the private placement. Going forward, we believe the market focus will be the VLCC-TCE (Ch ...

· 案例：2011-2015 年澳元 / 美元下跌 40%，主因澳大利亚央行连续降息（3.5%→1.5%）而美联储结束 QE 分析货币对的长期趋势和周期性是外汇交易和宏观经济研究的重要课题。以下是系统化的框架和分析方 法，帮助理解这一复杂主题： 一、长期趋势分析框架 1、结构性驱动因素 · 利率差异（Interest Rate Differentials） 2、地缘政治周期 3、跨资产验证 · 泰勒规则模型可预测政策利率路径 二、周期性分析模型 · 经济增长差异 1、经济周期嵌套理论 2、央行政策周期 · OECD 领先指标显示，当美国 PMI 超过欧元区 3 个百分点时，EUR/USD 年均贬值 5% · 购买力平价（PPP） · 根据 BIS 数据，美元长期偏离 PPP 约 15%，但 10 年周期内会向均值回归 · ADX 指标 > 25 确认趋势强度，<20 预示周期转换 · 美元指数在 Q4 平均上涨概率达 68%（1980-2020 年） · 日元 3 月财政年度结束时的回流效应，USD/JPY 在 3 月下跌概率超过 60% · 美元指数在 1995-2002/2011-2020 呈现典型 16 ...

Core Viewpoint - Boeing's long-term future hinges on developing the next generation of narrowbody airplanes to replace the 737 MAX, as acknowledged by CEO Kelly Ortberg [1] Group 1: Investment Cycle - Developing a new aircraft requires years and significant investment, with former CEO Dave Calhoun estimating a $50 billion investment needed for the next generation of narrowbody aircraft [2] - The typical pattern in long-cycle industries involves heavy investment followed by increasing cash generation as deliveries ramp up, which can then fund future aircraft development [3] Group 2: Financial Position - Boeing's cash flow generation from the 737 MAX has been adversely affected by its grounding and the pandemic, leading to a challenging financial situation [4] - At the end of Q1, Boeing had $53.6 billion in consolidated debt, $23.7 billion in cash and marketable securities, resulting in a net debt of $29.9 billion [5] Group 3: Free Cash Flow (FCF) Outlook - Analysts project FCF to improve from an outflow of $3.8 billion in 2025 to a generation of $8.8 billion in 2027, with net debt potentially reducing to $18.8 billion [8] - If Boeing can achieve FCF above $10 billion annually, it could pay off its debt by 2029 and support investment in a new $50 billion aircraft [8] Group 4: Stock Valuation - Despite early signs of improvement under Ortberg, Boeing faces significant challenges, including tariff uncertainties and the need to improve delivery rates and quality [9] - The stock is not considered notably undervalued, as achieving $10 billion in FCF by 2030 may be hindered by the funding requirements for the new narrowbody aircraft [11] - With a current market cap of $134 billion, Boeing would need $6.7 billion in FCF through the cycle to justify a 20 times FCF multiple, which is a challenging assumption given the upcoming investments [12]

Cameco (CCJ) Q1 2025 Earnings Call May 01, 2025 08:00 AM ET Speaker0 Thank you for standing by. This is the conference operator. Welcome to the Cameco Corporation First Quarter twenty twenty five Results Conference Call. As a reminder, all participants are in a listen only mode and the conference is being recorded. Following the introductory remarks, there will be an opportunity to ask questions. Webcast participants are asked to wait until the Q and A session before submitting their questions as the inform ...

Cameco (CCJ) Q1 2025 Earnings Call May 01, 2025 08:00 AM ET Company Participants Cory Kos - Vice-President of Investor RelationsTim Gitzel - President and Chief Executive OfficerGrant Isaac - Executive VP & CFOBob Brackett - Head - Research DivisionGordon Johnson - Founder & CEOHeidi Shockey - Senior VP & Deputy CFO Conference Call Participants Orest Wowkodaw - Managing Director, Senior Research Analyst, Metals and MiningRalph Profiti - Managing Director & Senior Equity Research AnalystAlexander Pierce - Eq ...

Trinity Industries (TRN) Q1 2025 Earnings Call May 01, 2025 08:00 AM ET Company Participants Leigh Anne Mann - VP, IRJean Savage - President & CEOEric Marchetto - Executive VP & CFOAndrzej Tomczyk - Vice President Conference Call Participants Bascome Majors - Senior Equity Research Analyst Operator Good morning, and welcome to the Trinity Industries, Inc. First Quarter twenty twenty five Earnings Call. All participants will be in listen only mode. After today's presentation, there will be an opportunity to ...

Waystar Holding (WAY) Q1 2025 Earnings Call April 30, 2025 04:30 PM ET Speaker0 Good day, and thank you for standing by. Welcome to the Waystar First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your qu ...

Northern Oil and Gas (NOG) Q1 2025 Earnings Call April 30, 2025 09:00 AM ET Speaker0 Greetings, and welcome to the NOG's First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. The question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It's now my pleasure to introduce your host, Evelyn Inferno, Vice President, Investor Relations. Thank you. You may begin. Speaker1 Good morning. Welcome t ...