SECOND QUARTER 2025 EARNINGS PRESENTATION August 7, 2025 FORWARD-LOOKING STATEMENTS In addition to GAAP financial measures, management uses Adjusted Revenues as a non-GAAP financial measure. This non-GAAP financial measure should not be considered a substitute for, nor superior to, financial results and measures determined or calculated in accordance with GAAP. This non-GAAP financial measure is not calculated in the same manner by all companies and, accordingly, may not be an appropriate measure of compari ...

Q2 2025 Investor Presentation Forward Looking Statement This presentation includes estimates, projections, and statements relating to our business plans, commitments, objectives, and expected operating results that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements rega ...

Financial Data and Key Metrics Changes - The company recorded a net income of approximately $6 million or $0.11 per diluted share for Q2 2025, a significant decrease from $71 million or $1.35 per diluted share in the same quarter of 2024, primarily due to a 30% drop in average net selling prices [23][24] - Adjusted EBITDA for Q2 2025 was $54 million, down from $116 million in the same quarter last year, with an adjusted EBITDA margin of 18% compared to 29% in the prior year [23][24] - Total revenues decreased to $298 million in Q2 2025 from $397 million in Q2 2024, driven by lower average gross selling prices [24][30] Business Line Data and Key Metrics Changes - Sales volume increased by 6% to 2.2 million short tons in Q2 2025, compared to 2.1 million short tons in the same quarter last year [15] - The company achieved first commercial sales of 239,000 tons of steelmaking coal from the Blue Creek mine, which was ahead of schedule [15][19] - Production volume also rose by 6% to 2.3 million short tons in Q2 2025, compared to 2.2 million short tons in the same quarter of the previous year [16] Market Data and Key Metrics Changes - Average premium low-vol steelmaking coal index prices declined by 24% year-over-year in Q2 2025, with the primary index averaging $167 per short ton [10] - The relative price of the LVHCC index compared to the PLD index averaged 78%, significantly lower than the historical average of 88% [11] - Global pig iron production decreased by 1.3% in the first half of 2025, with China experiencing a 0.8% decline [13] Company Strategy and Development Direction - The company is accelerating the Blue Creek longwall startup to early Q1 2026, reflecting a strong focus on cost control and operational efficiency [7][19] - The company plans to maintain a flexible cost structure and high production volumes to navigate challenging market conditions [22][31] - The recent "One Big Beautifully Bill Act" is expected to provide tax benefits, including a permanent deduction on foreign-derived income and classification of metallurgical coal as a critical mineral [32][33] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing market weakness due to excess Chinese steel exports and lackluster global steel demand, with expectations of continued challenges in customer markets [8][34] - The company remains optimistic about potential trade agreements but acknowledges the uncertainty surrounding global trade and tariffs [34] - Management emphasized confidence in the company's asset base and cost structure to navigate through the current environment [34] Other Important Information - Cash cost of sales in Q2 2025 was $225 million, representing 78% of mining revenues, with a cash cost of sales per short ton of approximately $101 [25][26] - Free cash flow was negative $57 million for Q2 2025, influenced by capital expenditures for Blue Creek, but the underlying business generated approximately $40 million of free cash flow excluding these investments [29][30] Q&A Session Summary Question: Cost guidance and expectations for the second half of the year - Management acknowledged strong performance but indicated planning for potential cost increases due to maintenance and repairs [36][39] Question: Impact of Brazilian tariffs and market diversion - Management noted that Brazilian steelmakers are still willing to take coal, but the market dynamics have shifted with more high-vol A tons moving into Asia [40][43] Question: Blue Creek project costs and production expectations - Management indicated that costs for Blue Creek are expected to be higher than previous guidance due to current market conditions, with production potentially reaching around 4 million tons next year [48][60] Question: Pricing and gross realization targets - Management confirmed risks to the gross realization target due to widening price spreads and increased sales of high-vol A coal [55] Question: Impact of the Union Pacific and Norfolk Southern merger - Management expressed confidence that the merger would not significantly impact their shipping operations due to the dedicated nature of their rail routes [74]

Core Viewpoint - Rayonier Advanced Materials Inc. (RYAM) held its Q2 2025 earnings conference call, discussing financial performance and strategic direction [1][4]. Group 1: Financial Performance - The earnings report and presentation materials were released, providing insights into the company's financial performance [4]. - The call included discussions on non-GAAP financial measures to offer additional perspective on operational performance [5]. Group 2: Leadership and Participation - The conference call featured key company participants including De Lyle Bloomquist (President and CEO) and Marcus Moeltner (CFO and Senior VP of Finance) [3]. - Michael H. Walsh (VP of Investor Relations and Treasurer) hosted the call, welcoming participants and outlining the agenda [2][3].

Valvoline (VVV) Q3 2025 Earnings Call August 06, 2025 09:00 AM ET Speaker0Hello, and welcome, everyone, to the Valvoline's Third Quarter Earnings Conference Call and Webcast. My name is Becky, and I'll be your operator today. I will now hand over to your host, Elizabeth Klavanger with Investor Relations team to begin. Please go ahead.Speaker1Thank you. Good morning, and welcome to Valvoline's third quarter fiscal twenty twenty five conference call and webcast. This morning, Valvoline released results for th ...

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Q2 2025 Earnings Call August 5, 2025 9:00 AM ET Company Participants David E. Sigmon - General Counsel, Corporate Secretary & Chief Compliance Officer David Michael Einhorn - Chairman of the Board Faramarz Romer - Chief Financial Officer Greg Richardson - CEO & Directors Operator Thank you for joining the Greenlight Capital Re, Ltd. Second Quarter 2025 Earnings Conference Call. [Operator Instructions] It's now my pleasure to turn the call over to David Sigmon, Green ...

Core Insights - GXO Logistics, Inc. reported second quarter 2025 revenue of $3.3 billion, a 16% increase year over year, with organic revenue growth of 6%, marking the highest growth in nine quarters [1][4][9] - The company signed $307 million in new business wins during the second quarter, bringing total new business wins for the first half of 2025 to over $500 million [2][9] - GXO raised its full-year adjusted EBITDA guidance due to better-than-expected performance in the first half of the year [3][9] Financial Performance - Net income for the second quarter was $28 million, down from $39 million in the same quarter of 2024, with diluted earnings per share (EPS) at $0.23 compared to $0.32 [5][9] - Adjusted EBITDA for the second quarter was $212 million, up from $187 million year over year, with adjusted diluted EPS increasing to $0.57 from $0.55 [5][9] - Cash flow from operations was $3 million, significantly lower than $115 million in the second quarter of 2024, with free cash flow showing a usage of $43 million compared to a generation of $31 million in the prior year [6][9] Balance Sheet and Debt - As of June 30, 2025, GXO had cash and cash equivalents of $205 million, total debt of $2.7 billion, and net debt of $2.5 billion [8][50] - The company’s net leverage ratio stood at 3.0x, indicating its debt levels relative to trailing twelve months adjusted EBITDA [52] Guidance and Leadership Transition - The company updated its full-year 2025 guidance, projecting organic revenue growth of 3.5% to 6.5% and adjusted EBITDA between $865 million and $885 million [10][19] - A leadership transition is underway, with Patrick Kelleher set to take over as CEO, succeeding Malcolm Wilson [4][11]

Core Viewpoint - Great Lakes Dredge & Dock Corporation held its Q2 2025 earnings call, discussing key developments and financial performance for the quarter [1][2]. Group 1: Company Overview - The earnings call was led by Eric Birge, Vice President of Investor Relations, with participation from CEO Lasse Petterson and CFO Scott Kornblau [1][2][4]. - The company emphasized that certain statements made during the call are forward-looking and subject to various risks and uncertainties [3][4]. Group 2: Financial Performance - The call included discussions on non-GAAP financial measures, specifically adjusted EBITDA, with reconciliations available in the earnings release and on the investor website [4].

Financial Data and Key Metrics Changes - Mineral royalty production was 33,200 BOE per day in Q2 2025, with total production volumes at 34,600 BOE per day [9] - Net income for Q2 was $120 million, with adjusted EBITDA at $84.2 million [9] - Distributable cash flow for the quarter was $74.8 million, representing 1.18 times coverage [10] - A distribution of $0.30 per unit was declared for the quarter, equating to $1.20 on an annualized basis [9][10] Business Line Data and Key Metrics Changes - 55% of oil and gas revenue in the quarter came from oil and condensate production [9] - The company added 31 million in royalty acquisitions during the quarter, bringing total acquisitions since September 2023 to approximately $172 million [6] Market Data and Key Metrics Changes - The company expects production growth in 2026 of an incremental 3,000 to 5,000 BOE per day over the revised guidance for 2025 [10][11] - The outlook for natural gas remains robust, supported by growing global demand for LNG [7] Company Strategy and Development Direction - The company is focused on expanding its drilling obligations in the Shelby Trough, which is expected to more than double over the next five years [6] - The grassroots acquisition program is progressing well, with ongoing marketing efforts in the Shelby Trough [5][6] - The company aims to maintain a clean balance sheet and ample liquidity to support its commercial strategy, including targeted grassroots acquisitions [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in production growth in 2026 and beyond, despite slower natural gas production growth in 2025 [10][11] - The company is optimistic about the outlook for the partnership, citing strong demand and ongoing development agreements [7][11] Other Important Information - The company has restructured its agreement with Aethon, reducing the number of wells from mid-20s to high teens per year, which is expected to impact production volumes [27] - The company is actively working to place strategically important acreage with other operators [27] Q&A Session Summary Question: Activity response to higher natural gas prices and production trajectory - Management noted subdued activity in the first half of the year but is excited about upcoming development agreements and ongoing activity in the Shelby Trough [14][15][17] Question: Comparison of geology in Shelby Trough and Western Haynesville - Management highlighted analogous subsurface characteristics and increasing productivity in the Western Haynesville, which could benefit the Shelby Trough [18][19] Question: Updated production guidance and activity in Haynesville - Management explained that the restructuring of agreements and strategic decisions have led to a slower production ramp-up, but they anticipate significant well activity in the coming years [27][29] Question: Production outlook and oil volumes - Management indicated that oil volumes are expected to be around 25% to 26% as they look towards 2026, with contributions from various projects [35]

Financial Data and Key Metrics Changes - For Q2 2025, the company reported revenue of $160.3 million, with 452 homes sold, reflecting disciplined execution in a slower transaction market [9][16] - Gross margin was 8.9%, resulting in a gross profit of $14.2 million, while operating expenses excluding property-related costs totaled $17 million, down 30% compared to the same quarter last year [17] - Adjusted EBITDA loss improved by 39% to $4.8 million, marking another quarter of sequential gains [17] Business Line Data and Key Metrics Changes - The renovate business achieved a record revenue of $6.4 million, marking the second consecutive record and the strongest performance since its launch [11] - The HomePro program was officially launched in Q2, enhancing customer experience through specialized agents [10] - The company acquired 443 homes during the quarter, focusing on strategic markets and properties aligned with margin targets [16] Market Data and Key Metrics Changes - Market conditions remain challenging, with affordability issues and economic uncertainty affecting both buyers and sellers, leading to longer home sale times and downward pressure on home prices [6][7] - The traditional spring selling season was underwhelming, with rising listing inventory providing buyers with more options [6] Company Strategy and Development Direction - The company aims to scale high-margin asset-light services, maintain cost discipline, and position itself to capture opportunities as market conditions evolve [14][19] - The focus is on enhancing customer experience through a diversified model that includes cash offers, HomePro, and Direct Plus services [12][13] Management's Comments on Operating Environment and Future Outlook - Management noted that despite operating with leaner resources, the team has delivered strong results, reflecting focus and resilience [14] - Looking ahead, the company expects Q3 revenue in the range of $130 million to $150 million, with a shift towards a higher percentage of revenue from asset-light services [19] Other Important Information - The company raised $21 million in July, increasing total liquidity to over $75 million, which strengthens the balance sheet and supports growth initiatives [5][18] - The company has established new lending facilities to increase operational agility and reduce committed capacity [18] Q&A Session Summary Question: Home acquisition pace for the remainder of the year - Management indicated a disciplined approach to home acquisitions, focusing on strategic markets while being cautious about areas with high supply [22][26] Question: Momentum in renovate - The company is seeing strong momentum in the renovate business due to increased customer sign-ups and efficiency, particularly among mid to small investors [24] Question: Economics of HomePro compared to traditional cash offers - HomePro services will recognize net revenue similar to gross profit, leading to a shift in revenue mix that increases gross profit but decreases overall revenue [38] Question: Current capital position and ability to self-fund - The company is comfortable with its capital position, having made significant strides in reducing fixed costs while improving gross profit [43][44] Question: Path to 1,000 homes per quarter - The company continues to view 1,000 real estate transactions as a North Star, with a shift towards more asset-light transactions while maintaining focus on overall transaction volume [50][52]