Q3 FY25 Conference Call May 6, 2025 Forward Looking Statements and Financial Presentation This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These include statements regarding: our belief and expectations with respect to our markets, including the cloud end market and the broader networking market, customers and industry, any anticipation or guidance as to demand for our products and te ...

The energy midstream sector has been a great spot for investors to go if they want to make some passive income. Many companies in this sector produce very stable cash flow as oil and gas flow through their pipelines and related midstream assets. That gives them money to pay lucrative dividends and invest in growing their businesses.Enbridge (ENB 0.82%), Enterprise Products Partners (EPD 1.79%), and Kinder Morgan (KMI -0.97%) are among the top options, according to a few Fool.com contributors, for those seek ...

The U.S. will need to build a tremendous amount of new power-generating capacity by 2030. According to an estimate from leading utility NextEra Energy (NEE -1.28%), the U.S. will need to add more than 450 gigawatts (GW) of new power generation by the dawn of the next decade. That's massive, considering the country currently has less than 1,300 GW of generation capacity. Meeting the country's power needs will require all forms of energy. That plays right into the strategy of NextEra Energy, which is a leader ...

Financial Data and Key Metrics Changes - The company reported record revenue for Q1 of $326 million, representing a 39% year-over-year increase [20] - Gross margin improved to 28.7%, up over 1,000 basis points from 17.5% in Q1 2024 [21] - Operating income was $13.2 million compared to a loss of $30.7 million in Q1 2024 [21] - EBITDA reached $25.2 million, a significant improvement from a negative $18.2 million in Q1 2024 [21] - Non-GAAP EPS was $0.03 per share, compared to a loss of $0.17 per share a year ago [21] - The company reiterated its 2025 revenue guidance of $1.65 billion to $1.85 billion, with a non-GAAP gross margin of approximately 29% [22] Business Line Data and Key Metrics Changes - The services business was highlighted as profitable for the fifth consecutive quarter, indicating strong performance and a growing backlog [23] - The company is experiencing robust activity in large load advanced manufacturing operations, AI-related hardware, and essential services like healthcare [11][12] - The international business, particularly in Korea, remains strong, with growth in other international markets off a small base [12] Market Data and Key Metrics Changes - The demand for electricity is expected to continue expanding, with major users accepting on-site generation as a necessity [7] - The AI data center sector shows no signs of slowdown, with significant investments in data center capacity growth [9] - The commercial and industrial sector is divided into two segments: large load advanced manufacturing and consumer-facing businesses, with the latter experiencing longer decision-making cycles due to economic uncertainty [11][12] Company Strategy and Development Direction - The company is focused on growing its business amidst a super cycle in electricity infrastructure growth, driven by increasing demand for on-site power generation [16] - The diversification of the customer base across sectors and geographies is seen as a key strength, providing resilience against external factors [13] - The company is committed to mitigating the impact of tariffs through supply chain strength and cost reduction initiatives [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting 2025 revenue guidance despite potential project delays due to supply chain issues [33] - The company believes that the debate over the necessity of on-site power generation is settled, with a strong demand for their solutions [34] - Management emphasized the importance of maintaining strong fiscal discipline and innovative cost reduction strategies to navigate challenges [22][76] Other Important Information - The CFO will be exiting the company on May 1, with the Chief Accounting Officer assuming the role of acting principal financial officer [17] - The company has a strong leadership team and finance organization to ensure continuity during the transition [17] Q&A Session Summary Question: Impact on pipeline conversion timing - Management noted that while there may be some shifts in project timelines, they remain confident in their ability to meet guidance based on strong customer demand [30][34] Question: Clarification on margin guidance and tariffs - Management reiterated the gross margin guidance of 29%, stating that they will find ways to mitigate the impact of tariffs without passing costs onto customers [31][32] Question: Utility partnerships versus direct customer engagement - Management indicated that both utility partnerships and direct customer engagement are important, with a preference for working with utilities for large loads [42][43] Question: Sensitivity to tariffs and repowering margins - Management expressed confidence in their ability to manage costs and maintain guidance despite potential tariff increases [50][52] Question: Supply chain resilience and sourcing materials - Management confirmed that critical materials do not come from contested supply chains, emphasizing a diverse and resilient supply chain strategy [55][56] Question: Customer traction outside the U.S. - Management highlighted targeted efforts in Europe and Asia, particularly in Italy, Germany, the UK, and Taiwan, as part of their international growth strategy [59][60] Question: Power demand in the commercial and industrial sector - Management noted a significant shift towards islanded power solutions, with strong demand from large load factories due to extended interconnection times [62][63]

Financial Data and Key Metrics Changes - The company reported record revenue for Q1 at $326 million, a 39% increase year-over-year [22] - Gross margin improved to 28.7%, up over 1,000 basis points from 17.5% in Q1 of 2024 [23] - Operating income was $13.2 million compared to a loss of $30.7 million in the same quarter last year [23] - EBITDA reached $25.2 million, a significant improvement from a negative $18.2 million in Q1 of 2024 [23] - Non-GAAP EPS was $0.03 per share, compared to a loss of $0.17 per share a year ago [23] Business Line Data and Key Metrics Changes - The services business was highlighted as profitable for the fifth consecutive quarter, indicating strong performance and improvement [25] - The company is experiencing robust activity in large load advanced manufacturing operations, AI-related hardware, and essential services like healthcare [12][13] - The international business, particularly in Korea, remains strong, contributing to overall growth [14] Market Data and Key Metrics Changes - Demand for electricity is expected to continue expanding, with major users accepting on-site generation as a necessity [10] - The company noted that AI data centers are committed to investing in capacity growth, indicating no slowdown in this sector [11] - The commercial and industrial segment is seeing varied activity, with large load operations remaining strong while consumer-facing businesses may delay decision-making [13][14] Company Strategy and Development Direction - The company is focused on growing its business amidst a super cycle in electricity infrastructure growth, driven by demand for on-site power generation [18] - A multi-country strategy is in place to mitigate tariff impacts, with a strong emphasis on maintaining manufacturing in the U.S. [16][33] - The company is actively working with utilities to expand its market presence, indicating a dual approach to customer engagement [44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting 2025 revenue guidance despite potential project delays due to supply chain issues [36] - The company is committed to maintaining its gross margin guidance of approximately 29%, despite anticipated tariff impacts [33][17] - Management highlighted the importance of resilience in the supply chain, emphasizing that critical materials do not come from contested supply chains [61][62] Other Important Information - The CFO will be exiting the company on May 1, with an interim CFO appointed to ensure continuity [20] - The company has a strong leadership team and finance organization, which is expected to maintain performance during the transition [20] Q&A Session Summary Question: Impact on pipeline conversion timing due to supply chain issues - Management indicated strong confidence in the pipeline and does not foresee significant delays in project commissioning [36] Question: Clarification on margin guidance amidst tariff impacts - Management reiterated the gross margin guidance of 29%, stating that they will find ways to mitigate tariff impacts without passing costs to customers [33] Question: Future growth drivers between direct customer engagement and utility partnerships - Management believes both direct engagement and utility partnerships will drive product deployment, with a strong focus on utilities for large loads [44] Question: Sensitivity of margins to potential tariff increases - Management expressed confidence in their ability to manage costs and maintain guidance despite potential tariff changes [52] Question: Update on customer traction outside the U.S. and Korea - The company is targeting specific countries in Europe and Asia for expansion, with a strategic approach to international growth [65] Question: Size of backlog at the end of Q1 - Management stated that backlog comments are provided annually, but reiterated confidence in the strong commercial pipeline [95] Question: Timing for new gas grid infrastructure for utility agreements - Management indicated that timing for gas infrastructure varies by location, but does not expect it to be a significant delay for customers [108]

人工智能数据中心对电力的需求正迅速逼近电网承载极限，这已非新发现。 乔治城大学、 Epoch AI 和兰德公司研究人员一项新研究的结论，该研究考察了 2019 年至今年全球 AI 数据中心的增长轨迹。合著者汇编并分析了超过 500 个 AI 数据中心项目的数据集，发现虽然数据中心的计算性能每年翻倍以上，电力需求和资本支出同样在成倍增长。 如果当前趋势持续下去，用于训练和运行人工智能的数据中心可能很快将容纳数百万芯片，耗资数千亿美元，并需要相当于大型城市电网的电力供应。 研究结果凸显了未来十年建设支持 AI 技术发展所需基础设施的挑战。 近期宣称全球约 10% 人口使用其 ChatGPT 平台的 OpenAI ，与软银等合作伙伴计划筹集高达 5000 亿美元资金，在美国（可能还包括其他地区）建立 AI 数据中心网络。微软、谷歌和 AWS 等其他科技巨头也已承诺，仅今年就将共同投入数亿美元扩大其数据中心规模。 富国银行最新分析预测，到 2030 年，数据中心的能耗将增长 20% 。这可能迫使依赖不稳定天气的可再生能源达到供应极限，进而刺激化石燃料等不可再 生、破坏环境的电力来源加速扩张。 人工智能数据中心还带来其 ...

California Resources Corporation (NYSE:CRC) Q4 2024 Earnings Conference Call March 3, 2025 1:00 PM ET Company Participants Joanna Park - VP, IR & Treasurer Francisco Leon - CEO, President & Director Clio Crespy - EVP & CFO Francisco Leon - CEO, President & Director Jay Bys - EVP & Chief Commercial Officer Conference Call Participants Scott Hanold - RBC Capital Markets Kalei Akamine - Bank of America Merrill Lynch Nate Pendleton - Texas Capital Josh Silverstein - UBS Betty Jiang - Barclays Neal Dingmann - Tr ...