ATI (ATI) Q1 2025 Earnings Call May 01, 2025 08:30 AM ET Speaker0 Hello, and welcome, everyone, to the ATI First Quarter twenty twenty five Earnings Call. My name is Becky, and I'll be your operator today. I will now hand over to your host, David Weston, Vice President of Investor Relations, to begin. Please go ahead. Speaker1 Thank you. Good morning and welcome to ATI's first quarter twenty twenty five earnings call. Today's discussion is being webcast online at atimaterials.com. Participating in today's c ...

Q1 2025 | Earnings Results May 1, 2025 Safe Harbor and Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws. These statements include, but are not limited to statements regarding Vontier Corporation's (the "Company's") business and acquisition opportunities, anticipated sales growth, anticipated adjusted operating margin expansion, anticipated adjusted net earnings per share, anticipated adjusted cash flow conversion, and anticipa ...

Financial Performance - Company reported net revenues of $700.7 million for the first quarter of 2025, a decrease of 5.0% compared to $737.8 million in the prior year period [8][34] - GAAP diluted earnings per share (EPS) from continuing operations was $2.07, compared to $0.33 in the prior year period [8][46] - Adjusted diluted EPS from continuing operations was $2.91, down from $3.21 in the prior year period [8][46] Revenue by Segment - In the Americas, net revenue was $475.7 million, down 3.7% from $494.0 million [5][34] - EMEA segment reported net revenue of $151.2 million, a decrease of 5.3% from $159.6 million [5][34] - Asia segment saw a decline of 12.4%, with revenues of $73.8 million compared to $84.2 million [5][34] Revenue by Product Category - Vascular Access category reported revenues of $182.4 million, a slight increase of 0.6% from $181.4 million [7][34] - Interventional category revenues increased by 2.1% to $137.5 million from $134.7 million [7][34] - Anesthesia revenues decreased by 10.1% to $86.6 million from $96.4 million [9][34] Guidance and Outlook - Company raised its full-year 2025 revenue growth outlook on a GAAP basis to a range of 1.28% to 2.28% [10][11] - Adjusted diluted EPS guidance for 2025 was lowered to a range of $13.20 to $13.60, down from $13.95 to $14.35 [11][12] - Expected impact from tariffs in 2025 is approximately $55 million, which will be recorded in cost of goods sold [8][11] Strategic Initiatives - Company is evaluating strategies to mitigate exposure to tariffs and remains focused on executing its plan for the year [3] - Plans to separate Teleflex into two independent publicly traded companies, with significant third-party interest in acquiring NewCo [3]

Core Viewpoint - Graphic Packaging Holding Company has announced a new $1.5 billion share repurchase authorization, increasing the total available authorization to $1.865 billion as of April 30, 2025 [1][2]. Group 1: Share Repurchase Authorization - The new authorization allows for share repurchases through open market transactions, privately negotiated deals, and Rule 10b5-1 plans, depending on market conditions and the company's financial status [2]. - The previous share repurchase authorization from July 27, 2023, had $365 million remaining, which is now combined with the new authorization [1]. Group 2: Financial Strategy and Dividend - The company's President and CEO, Michael Doss, indicated that capital spending needs will decline significantly as the Vision 2025 investment nears completion, allowing for excess cash generation [3]. - The Board of Directors has approved a 10% increase in the quarterly dividend to $0.11 per share, which was paid on April 5, 2025, to stockholders of record as of March 15, 2025 [3]. Group 3: Commitment to Shareholder Returns - The company plans to measure potential investments against the alternative of repurchasing stock and aims to return a substantial amount of cash to shareholders through dividends and share repurchases in the future [4].

MGM Resorts International (MGM) Q1 2025 Earnings Call April 30, 2025 05:00 PM ET Company Participants Howard Wang - Vice President - Investor RelationsWilliam Hornbuckle - CEO and PresidentJonathan Halkyard - CFODavid Katz - Managing DirectorStephen Grambling - Managing DirectorJohn Decree - Director - Equity ResearchKenneth Feng - Executive Director & PresidentBarry Jonas - Managing DirectorCorey Sanders - Chief Operating Officer Conference Call Participants Brandt Montour - Director, Equity Research Analy ...

Financial Data and Key Metrics Changes - The company reported a strong quarter with notable financial results, including a $22 million EBITDA from BetMGM, representing an improvement of over $150 million from the prior year period [13][21] - The company ended the quarter with a $200 million EBITDA enhancement plan in motion, expecting to implement more than $150 million in 2025 [9][23] - Segment adjusted EBITDAR was down $17 million, influenced by $37 million in business interruption proceeds during the quarter [19] Business Line Data and Key Metrics Changes - BetMGM reported a 34% increase in net revenue from operations, with iGaming net revenues growing by 27% and online sports net revenues increasing by 68% [13][21] - MGM China maintained a mid-teen market share at 15.7%, with margins holding at 28% due to strong operational efficiency [12][20] - The regional properties experienced a modest decline in revenue due to inclement weather, but ended the quarter strong with record slot wins in March [11][20] Market Data and Key Metrics Changes - Las Vegas operations showed resilience with record hotel occupancy and strong demand, particularly from the Marriott partnership, which booked over 440,000 room nights in April [30][31] - Domestic flight capacity to Las Vegas increased by 2% from April to June, with 14 of the 25 largest metro markets increasing capacity [10] - The company noted that the Las Vegas Strip resorts remained solid despite previous periods benefiting from the Super Bowl [10][11] Company Strategy and Development Direction - The company is focused on leveraging its luxury offerings and maintaining operational agility to navigate varying economic conditions [9][10] - MGM is well-positioned for future growth with ongoing projects in Japan and potential opportunities in New York [15][26] - The company is committed to enhancing its digital business, with significant investments in BetMGM and MGM Digital, which is expected to generate substantial revenue [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of Las Vegas and the company's ability to adapt to economic cycles [11][112] - The operating environment remains favorable, with key metrics in line with expectations and a strong events calendar driving demand [10][11] - Management highlighted the importance of the Marriott partnership and the positive impact on occupancy and revenue [19][31] Other Important Information - MGM China increased its dividend payout policy to 50% of distributable profits, up from 35% [20] - The company repurchased nearly 15 million shares for about $494 million in the first quarter, with board approval for an additional $2 billion in share repurchases [25][26] - The company is actively managing labor costs and has seen a reduction in full-time employees across regions [41][43] Q&A Session Summary Question: Can you unpack the April performance in Las Vegas regarding major KPIs? - Management noted that April is shaping up to be a record month for hotel occupancy and group performance, with strong demand from the Marriott partnership [30][31] Question: How is the company compensating for the soft inbound from Canada? - The higher-end segment remains unaffected, with strong performance from Marriott blocks and casino business compensating for the leisure type business decline [36][37] Question: Are payroll and labor increases related to the $150 million cost management initiative? - Management confirmed that the labor cost management efforts are ongoing, contributing to the observed growth in FTEs [41][43] Question: What is the current status of the Japan project and its budget? - The equity commitment for the Japan project has increased to ¥428 billion, with expected contributions of $600 million to $700 million per year over the next four years [60][61] Question: How does the company view share repurchases in light of increasing CapEx? - Management indicated that while share repurchases may slow down, they are open to allowing leverage to increase to fund upcoming opportunities [77][78] Question: What is the impact of tariffs on the development pipeline? - Management stated that the impact of tariffs on the development pipeline is minimal, with most purchases already completed for the year [86][88]

MGM Resorts International (MGM) Q1 2025 Earnings Call April 30, 2025 05:00 PM ET Company Participants Howard Wang - Vice President - Investor RelationsWilliam Hornbuckle - CEO and PresidentJonathan Halkyard - CFODavid Katz - Managing DirectorStephen Grambling - Managing DirectorJohn Decree - Director - Equity ResearchKenneth Feng - Executive Director & PresidentBarry Jonas - Managing DirectorCorey Sanders - Chief Operating Officer Conference Call Participants Brandt Montour - Director, Equity Research Analy ...

Core Insights - MGM Resorts International reported strong first quarter results for 2025, with notable performance in EBITDA and share repurchases despite a decrease in overall revenues compared to the previous year [2][5][6]. Financial Performance - Consolidated net revenues for the first quarter of 2025 were $4.3 billion, a decrease of 2% from the prior year quarter, primarily due to lower revenues at Las Vegas Strip Resorts and MGM China [6]. - Net income attributable to MGM Resorts was $149 million, down from $217 million in the prior year quarter [6]. - Adjusted EBITDA for the quarter was $637 million, compared to $673 million in the prior year quarter [6][31]. - Diluted earnings per share (EPS) were $0.51, down from $0.67 in the prior year quarter, while adjusted diluted EPS was $0.69 compared to $0.74 in the prior year [4][6]. Segment Performance - Las Vegas Strip Resorts generated net revenues of $2.2 billion, a decrease of 3% year-over-year, attributed to lower non-gaming revenues and a decline in average daily rate (ADR) [6][31]. - Regional Operations reported net revenues of $900 million, down 1% from the previous year, while MGM China saw revenues of $1.0 billion, a decrease of 3% [6][31]. - MGM Digital, which includes LeoVegas, reported revenues of $128 million, slightly up from the previous year [6][31]. Share Repurchase and Capital Management - The company repurchased approximately 15 million shares for $494 million in the first quarter, reducing shares outstanding by 43% since the beginning of 2021 [2][5][12]. - A new $2 billion share repurchase program was authorized by the Board of Directors, in addition to the existing repurchase plan [2][13]. Operational Highlights - The BetMGM venture reported significant revenue growth and a positive EBITDA for the first quarter of 2025 [5]. - The MGM Rewards program surpassed 50 million members, indicating strong brand loyalty [5]. - April 2025 is projected to be a record month for hotel bookings on the Las Vegas Strip [2].

Core Points - Enact Holdings, Inc. declared a quarterly dividend of $0.21 per common share, marking a 14% increase from the previous quarter [1] - The company authorized a new share repurchase program allowing for the purchase of up to $350 million of its common stock, in addition to the remaining $6 million from the existing $250 million program [2][3] - The CEO emphasized the commitment to shareholder value through the increased dividend and share repurchase program, highlighting a consistent annual dividend increase since inception [3] Dividend and Share Repurchase - The new quarterly dividend will be payable on June 11, 2025, to shareholders of record on May 19, 2025 [1] - The share repurchase program will utilize various methods, including open market purchases and privately negotiated transactions, and may be executed under specific trading plans [3] - The timing and amount of share repurchases will be opportunistic, influenced by factors such as share price and market conditions [4] Company Overview - Enact Holdings, Inc. operates primarily through its subsidiary, Enact Mortgage Insurance Corporation, and is a leading private mortgage insurance provider in the U.S. [5] - The company aims to support homeownership by partnering with lenders to provide exceptional service and risk management [5]

COVINGTON, La., April 30, 2025 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq/GSM:POOL) announced today that its Board of Directors (the Board) has authorized an increase in the company’s share repurchase program to $600.0 million. As of April 29, 2025, this adds $309.2 million to the $290.8 million remaining under its existing share repurchase program for the purchase of the company’s common stock in the open market at prevailing market prices. The share repurchase program will continue until otherwise modif ...