Within this document, the Company reports certain non-GAAP financial measures, including: (1) adjusted operating income, adjusted net earnings, and adjusted diluted earnings per share, which exclude restructuring and other costs, including the Portfolio Optimization Plan costs, (2) percentage changes in revenue, operating income, and diluted earnings per share on an adjusted local currency basis, which eliminate the effects that result from translating its international operations into U.S. dollars and rest ...

Financial Data and Key Metrics Changes - Ameriprise Financial reported adjusted operating EPS increased by 7% to $9.11, with a strong margin of 27% [23][25] - Total revenues increased by 4% to $4.3 billion, driven by asset growth and strong transactional activity [23][25] - Return on equity remains high at 52%, reflecting the company's strong profitability [7][21] Business Line Data and Key Metrics Changes - Wealth Management adjusted operating net revenues increased by 6% to $2.8 billion, benefiting from strong net inflows and market appreciation [28] - Client assets grew to a record $1.1 trillion, up 11%, with total WRAP assets increasing by 15% [9][26] - Asset Management total assets under management and administration increased to $690 billion, up 2% year-over-year and 5% sequentially [16][31] Market Data and Key Metrics Changes - Assets under management, administration, and advisement reached a new high of $1.6 trillion, benefiting from strong client flows and equity market appreciation [7][25] - The company experienced $8.7 billion in outflows in the quarter, largely driven by higher institutional impacts [17][88] - Gross sales in Global Retail increased by about 10% year-over-year, despite higher underlying redemptions [17][88] Company Strategy and Development Direction - The company continues to invest significantly in technology, digital capabilities, and AI to enhance client experience and advisor productivity [8][12] - Ameriprise launched Signature Wealth to improve wealth management capabilities, allowing advisors to manage client assets more holistically [12] - The company aims to maintain a balanced approach to share buybacks and dividends, targeting an 85% payout ratio for the second half of the year [21][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic direction and competitive strengths of the business, despite market volatility and economic uncertainties [6][22] - The company anticipates continued strong performance in the wealth management sector, supported by high client satisfaction ratings [8][22] - Management noted that the economic environment remains firm, but uncertainties around tariffs could impact future performance [7][22] Other Important Information - Ameriprise received recognition for outstanding overall satisfaction and was named one of America's most innovative companies in 2025 [22] - The company maintains a strong balance sheet with excess capital of $2.3 billion above regulatory requirements [34] - The Retirement and Protection Solutions segment reported a 9% increase in pretax adjusted operating earnings, reflecting strong interest earnings and favorable life claims [33] Q&A Session Summary Question: Drivers of software flows in 2Q and indications of NNA reaccelerating - Management noted that tax payments and market conditions impacted flows, but recovery was seen later in the quarter [39][40] Question: Year-on-year trajectory for AWM distribution expense - Management explained that distribution expenses are influenced by advisor production levels and market conditions, with a focus on maintaining expense discipline [41][43] Question: Recruiting strategy and market outlook - Management highlighted a strong pipeline for recruiting experienced advisors, emphasizing the value proposition and support provided to them [48][49] Question: Share buybacks and payout ratio expectations - Management confirmed a target payout ratio of 85% for the second half of the year, with the potential for adjustments based on market conditions [57][58] Question: Competitive environment in AWM and advisor growth expectations - Management indicated that they are experiencing growth in advisor numbers and are focused on maintaining a strong advisor base [60][61] Question: Updates on Retirement and Protection Solutions performance - Management noted strong fundamentals in the RPS segment, with favorable life claims contributing to improved earnings [64][66] Question: Dynamics in the bank's securities portfolio and loan strategy - Management confirmed expectations for spread increases as the securities portfolio matures and emphasized the launch of new liability products to support loan growth [71][74] Question: Asset management flow performance and outlook - Management acknowledged higher redemptions but noted strong gross sales and ongoing product development efforts [86][89] Question: Weighing human capital versus automation and AI investments - Management stated a commitment to investing in technology and automation to enhance advisor productivity while also considering human capital needs [92][94] Question: Growth drivers in AWM and advisor recruitment - Management confirmed that core growth primarily comes from existing advisors, with recruitment serving as a supplementary growth driver [107][109]

Financial Data and Key Metrics Changes - Banner Corporation reported a net profit available to common shareholders of $45.5 million or $1.31 per diluted share for Q2 2025, compared to $1.15 per share for Q2 2024 and $1.30 per share for Q1 2025 [5][6] - Core earnings for Q2 2025 were $62 million, up from $52 million in Q2 2024, with revenue from core operations increasing to $163 million from $150 million year-over-year [7][8] - Return on average assets was 1.13% for Q2 2025, reflecting strong core performance [8] Business Line Data and Key Metrics Changes - Loan originations increased by 80% compared to the linked quarter, with commercial real estate up 484%, C&I originations up 96%, and construction and land development increasing by 43% [12] - Total loans grew by $265 million during the quarter, with portfolio loans increasing by $252 million or nearly 9% on an annualized basis [19] - Core deposits represented 89% of total deposits, with a 4% year-over-year increase in core deposits [9][20] Market Data and Key Metrics Changes - The agricultural loans sector saw a 3% increase in the quarter, driven by higher operating costs and seasonal activity [14] - Delinquent loans decreased to 0.41% of total loans, down from 0.63% in the previous quarter [14][15] - Nonperforming assets remained modest at 0.3% of total assets, with nonperforming loans totaling $43 million, primarily related to consumer loans [15] Company Strategy and Development Direction - The company continues to focus on its super community bank strategy, emphasizing client relationships, core funding, and safety through economic cycles [8][9] - Banner Corporation aims to maintain a moderate risk profile while investing in operational improvements to enhance performance [6][9] - The company received multiple accolades, including being named one of America's 100 Best Banks and recognized for retail client satisfaction [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted that economic uncertainty has not significantly impacted loan growth, with strong originations and growth observed in Q2 [17] - The company expects a slight pullback in loan growth in Q3 but maintains a mid-single-digit growth rate projection for the year [30] - Management remains focused on organic growth while being open to opportunistic M&A, emphasizing the success of their current business model [49] Other Important Information - The company reported a core dividend of $0.48 per common share, reflecting strong financial performance [9] - Total securities decreased by $55 million primarily due to normal portfolio cash flows [19] - The company called and repaid $100 million of subordinated notes, reflecting strong capital and liquidity positions [20] Q&A Session Summary Question: Follow-up on loan originations and customer confidence - Management indicated that the increase in originations pulled some of the pipeline out, with expectations of mid-single-digit growth for the year despite potential pullbacks in Q3 [29][30] Question: Competition on the deposit side - Management noted that they are not currently seeing increased competition for deposits, maintaining a focus on relationship banking to drive core deposits [33][34] Question: Funding loan growth amid deposit growth - Management confirmed that FHLB advances were used to temporarily fund loan growth, with expectations for deposit growth to outpace loan growth in Q3 [37][38] Question: M&A environment and strategy - Management acknowledged an increase in M&A activity but emphasized a focus on organic growth, viewing opportunistic M&A as a secondary strategy [49] Question: Credit quality and loan performance - Management clarified that the increase in nonperforming loans was primarily due to residential properties, with agricultural loans experiencing more downgrades due to commodity pressures [61][62]

Financial Data and Key Metrics Changes - For the three months ended 03/31/2025, revenue was $725,000 compared to $743,000 for the same period in 2024, indicating a slight decrease [12] - Gross profit for the same period was $218,000, down from $269,000 year-over-year, with gross margin decreasing from 36% to 30% [12] - Total operating expenses were $3,880,000, slightly down from $3,920,000 in the previous year [12] - Net loss was $3,590,000 or $0.06 per share, compared to a net loss of $3,610,000 or $0.08 per share for the same period last year [12] - As of 03/31/2025, cash equivalents were approximately $6,000,000, increasing to about $6,200,000 by 05/27/2025, which includes a $2,000,000 unsecured bridge loan [12][11] Business Line Data and Key Metrics Changes - The revenue increase was primarily driven by sales in North America and Europe, while sales in Asia declined significantly [12] - The company continues to expect revenue and gross profit to fluctuate quarter to quarter as it builds out its commercial infrastructure [12] Market Data and Key Metrics Changes - In North America, revenue increased by approximately 11% year-over-year, while Europe saw a 60% increase [29] - Sales in Asia experienced a decline of about 60%, with other parts of Asia declining by approximately 40% [29] Company Strategy and Development Direction - The company is focused on obtaining FDA marketing authorization for ProSense, which is expected to be a first-in-class minimally invasive option for early-stage breast cancer treatment [5][8] - Following FDA approval, the company plans to commence commercial sales while running a post-market study, which could lead to additional reimbursement opportunities [7][9] - The company is also preparing for potential regulatory filings and approvals in Japan and Israel [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the FDA's review of the post-market study plan, viewing it as a positive signal for future marketing authorization [6][7] - The company anticipates that the post-market study will drive further interest in ProSense and accelerate adoption in the market [44] Other Important Information - The company raised $2,650,000 in net proceeds from the sale of ordinary shares under its at-the-market offering facility between 01/13/2025 and 05/27/2025 [14] - The company maintains a supportive relationship with its largest shareholder, who provided a $2,000,000 unsecured loan [10] Q&A Session Summary Question: Is the post-market study expected to involve a minimum of 400 patients over 25 sites? - Yes, the post-market study will require 400 patients in at least 25 sites, but the FDA cannot guarantee a specific response time for the submission [18][19] Question: How long is the post-market study expected to take? - The recruitment for the study is expected to be completed within three years [21][22] Question: Can you provide more details on the potential for expanded reimbursement? - The company believes it can increase reimbursement rates after obtaining more records and claims under the CPT3 code, and plans to apply for a CPT1 code post-authorization [23][24] Question: What is the size of the breast cancer patient population in Japan? - The total number of new breast cancer cases in Japan is between 100,000 and 105,000 annually, with a significant portion being low-risk early-stage cases [25][26] Question: What was the geographic breakdown of revenue this quarter? - North America saw an 11% increase in revenue, while Europe experienced a 60% increase; however, Asia saw a decline of about 60% [29][30] Question: Is ProSense subject to any new tariffs for U.S. markets? - Yes, the company is currently affected by tariffs imposed by the U.S. Administration, but the situation is still evolving [36][37] Question: Will the sales team expand after post-market approval? - Yes, the company plans to increase its sales team following marketing authorization [38] Question: What are the pricing and sales strategies for ProSense? - The company plans a mix of placement and outright sales, requiring commitments for probe usage over a period [40]

Financial Data and Key Metrics Changes - The company reported a significant increase in Marcellus upstream cash flows, which were up over 200% sequentially due to a 58% increase in production and a 70% increase in realized pricing [5] - Midstream cash flows also increased by 140% sequentially on higher throughput volumes [5] - The company plans to allocate total capital expenditures of $9 million to $12 million for 0.5 net wells in Texas and Alberta for the remainder of the year [5] Business Line Data and Key Metrics Changes - The Marcellus business demonstrated strong performance, with substantial cash flow increases attributed to both upstream and midstream operations [6][7] - The company has a remaining undeveloped inventory of approximately 500,000 completed lateral length feet gross, expected to be developed starting late next year or early in 2027 [7] - In Texas, the Barnett type curve is delivering above a 15% rate of return down to $55 WTI [8] Market Data and Key Metrics Changes - The company is approximately 45% hedged on forecasted PDP oil production for the remainder of the year at just over $71 WTI and approximately 30% hedged for gas at $3.33 NYMEX [8] Company Strategy and Development Direction - The company is focused on minimizing near-term activity in light of current oil price volatility while maintaining its dividend [5][6] - The strategy includes limiting capital spending in Texas to leasehold obligations, with plans for two gross wells over the remainder of the year [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong balance sheet and projected cash flows, positioning it well to capitalize on attractive opportunities [6] - The operator's stated plans for development are subject to change based on gas market conditions and other factors [7] Other Important Information - The first two horizontal Manville wells in Canada were completed in the first quarter, with production sales commencing in April [11] Q&A Session Summary Question: Details on the first two wells in Alberta - Management indicated that oil and gas started flowing to sales in early April, with ongoing efforts to install artificial lift and tie down facilities, expecting a more definitive update in the next quarterly report [15][16]

Southland Holdings (SLND) Q1 2025 Earnings Call May 14, 2025 10:00 AM ET Speaker0 Good morning. My name is Chloe, and I will be your conference operator today. At this time, I would like to welcome everyone to the Southland First Quarter twenty twenty five Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer there question you. Alex, you may begin your conference. Speaker1 Good morning, everyone, and we ...

Financial Data and Key Metrics Changes - The company generated $58 million in consolidated revenue for Q1 2025, representing a 14% year-over-year increase [8][25] - Adjusted EBITDA for the quarter was $9 million, up from $7 million in the same period last year, reflecting a 38% increase [8][26] - The company reported a net loss of $3 million on a GAAP basis, while adjusted net income was $3 million [26] Business Line Data and Key Metrics Changes - Revenue in the core Wealth Management and Capital Solutions segment rose 23% year-over-year, driven by a 10% increase in assets under management and advisement [8][25] - The Wealth and Capital Solutions segment generated $57 million in revenue, contributing significantly to overall growth [25] - Adjusted EBITDA for the Wealth and Capital Solutions segment was $19 million, reflecting a 34% margin [27] Market Data and Key Metrics Changes - The company closed the acquisition of Kontoora, marking its entry into Germany, the world's third-largest ultra-high-net-worth market [6][11] - Total assets in the Wealth and Capital Solutions segments reached approximately $82 billion, including around $32 billion managed through the international platform [12] Company Strategy and Development Direction - The company aims to become the leading independent global multifamily office and OCIO platform, focusing on strategic acquisitions and organic growth [6][18] - A zero-based budgeting approach is being implemented to align costs with strategic priorities and enhance operational efficiency [7][20] - The company is exiting non-core businesses to streamline operations and focus on high-conviction opportunities [7][22] Management's Comments on Operating Environment and Future Outlook - Management noted that despite market volatility, portfolios remained resilient due to broad diversification across asset classes [17][18] - The company is optimistic about growth opportunities in Germany and the strong organic pipeline in the U.S. [39][40] - Management emphasized the importance of aligning investments with clients' values, highlighted by the launch of the Alti Global Social Progress Index [19][20] Other Important Information - The company ended the quarter with $52 million in cash and no debt, evaluating financing alternatives for future growth [29][30] - The company is advancing its marketing strategy with a focus on segmentation to better resonate with client needs [15][16] Q&A Session Summary Question: Can you discuss the zero-based budgeting efforts and provide a timeline for expected reductions? - Management indicated that the zero-based budgeting process is a line-by-line review across all segments, with implementation already underway [34][35] - More detailed quantification of cost savings is expected to be provided in August [36] Question: What are the expectations for growth in Germany and the M&A pipeline? - Management expressed optimism about the German market, highlighting the successful acquisition of Kontoora and ongoing client engagements [38][39] - The M&A pipeline includes both individual team lift-outs and organizations in various markets, with a strong organic growth pipeline as well [40] Question: Can you provide details on the real estate business and its near-term direction? - The company is divesting from its international real estate segment, focusing on core wealth management operations, with a definitive plan expected by the next call in August [44] Question: How is the company navigating market volatility and its impact on AUM? - Management remains relatively sanguine about market volatility, emphasizing a balanced asset approach and the ability to adapt to changing conditions [46][47]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $96 million, down from $192.1 million in Q1 2024, primarily due to the decline in the government vertical, especially in migrant-related projects [20][21] - The company recorded a net loss of $11.1 million in Q1 2025 compared to a net income of $10.6 million in Q1 2024, reflecting the drop in revenues [21] - Adjusted EBITDA for Q1 2025 was a loss of $3.9 million, down from an adjusted EBITDA of $24.1 million in Q1 2024 [22] Business Line Data and Key Metrics Changes - Mobile health revenue for Q1 2025 was $45.2 million, down from $143.9 million in Q1 2024, driven by the anticipated wind down of migrant revenues [21] - Medical transportation services revenue increased to $50.8 million in Q1 2025 from $48.2 million in Q1 2024, supported by growth in several markets [21] - The medical transportation business is expected to have adjusted EBITDA of greater than $15 million in 2025, with a projected total of approximately 575,000 transports by the end of 2025 [11][19] Market Data and Key Metrics Changes - The company has seen substantial growth in its payer and provider vertical, exceeding 900,000 assigned lives, up from 700,000 just a quarter ago [12] - The number of care gap closure and transitional care management visits is projected to grow from over 4,400 in Q4 2024 to over 11,500 in Q4 2025, indicating a significant expansion [13] Company Strategy and Development Direction - The company has removed its government population health vertical from its 2025 guidance due to ongoing policy changes and budget cuts, leading to substantial uncertainty [7][9] - The focus is on building the company around innovative solutions for payers, providers, and health systems, particularly in mobile health and medical transportation [10] - Cost-cutting measures have been initiated, with SG&A reduced by approximately $3.1 million sequentially in Q1 2025, while still investing in growth areas [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory of the medical transportation and payer/provider verticals, despite the challenges in the government sector [10][19] - The company anticipates positive cash flow from operations and expects to exit the year with over $110 million in cash, despite projecting a consolidated adjusted EBITDA loss for the year [18][27] Other Important Information - The company has initiated a stock buyback program, repurchasing nearly 2 million shares for approximately $5.8 million in Q1 2025 [28] - The balance sheet remains healthy, with expectations for improved cash flow from operations as accounts receivable from migrant programs are collected [27] Q&A Session Summary Question: What is the expected government revenue for the remainder of the year? - Management clarified that government population health revenues have been removed from guidance, and any new deployments will be reported separately as upside [32][33] Question: How is the company balancing SG&A cuts with staffing for future government engagements? - Management is restructuring shared services for savings while reinvesting in growing parts of the business to ensure readiness for future growth [34][35] Question: What is the margin profile of the migrant-related revenue compared to core business? - The margins on the migrant program were about 34%, while the non-migrant mobile health segment had a gross margin of 35.9% in Q4 2024 [80] Question: Are there any risks from tariffs on medical equipment? - Management indicated that tariffs could impact the cost of maintaining the fleet and procuring new vehicles, but they are in a good position to manage these costs [81][82]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $96 million, down from $192.1 million in Q1 2024, primarily due to the decline in the government vertical, especially in migrant-related projects [19] - The company recorded a net loss of $11.1 million in Q1 2025 compared to a net income of $10.6 million in Q1 2024 [20] - Adjusted EBITDA for Q1 2025 was a loss of $3.9 million, down from an adjusted EBITDA of $24.1 million in Q1 2024 [21] - The adjusted gross margin for Q1 2025 was 32.1%, compared to 35% in Q1 2024 [21] Business Line Data and Key Metrics Changes - Mobile health revenue for Q1 2025 was $45.2 million, down from $143.9 million in Q1 2024, driven by the anticipated wind down of migrant revenues [20] - Medical transportation services revenue increased to $50.8 million in Q1 2025 from $48.2 million in Q1 2024, supported by growth in several markets [20] - The medical transportation business is expected to have an adjusted EBITDA of greater than $15 million in 2025, with projected total transports reaching approximately 575,000 by the end of 2025 [10] Market Data and Key Metrics Changes - The company has seen substantial growth in its payer and provider vertical, exceeding 900,000 assigned lives, up from 700,000 just a quarter ago [11] - The number of care gap closure and transitional care management visits is projected to grow from approximately 4,400 in Q4 2024 to over 11,500 in Q4 2025 [12] Company Strategy and Development Direction - The company has removed its government population health vertical from its 2025 guidance due to ongoing policy changes and budget cuts, leading to substantial uncertainty [6] - The focus is on building the company around innovative solutions for payers, providers, and health systems, particularly in mobile health and medical transportation [9] - Cost-cutting measures have been initiated, with SG&A reduced by approximately $3.1 million sequentially in Q1 2025, while the company plans to aggressively cut SG&A over the next several quarters [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory of the medical transportation and payer/provider verticals despite the challenges in the government sector [9] - The company anticipates positive cash flow from operations and expects to exit the year with over $110 million in cash, despite projecting a consolidated adjusted EBITDA loss for the year [17] - Management highlighted the importance of their technology platform in securing new contracts and improving patient outcomes [11] Other Important Information - The company has initiated a stock buyback program, repurchasing nearly 2 million shares for approximately $5.8 million in Q1 2025 [27] - The balance sheet remains healthy, with expectations for improved cash flow from operations as accounts receivable from migrant programs are collected [26] Q&A Session Summary Question: What is the expected government revenue for the remainder of the year? - Management clarified that government population health revenues have been removed from guidance, and any new deployments will be reported separately as upside [31][32] Question: How is the company balancing SG&A cuts with staffing for future government engagements? - Management indicated they are restructuring shared services for savings while reinvesting in growing parts of the business to prepare for future growth [33][34] Question: What is the demand outlook for the payer business? - Management noted healthy demand in the payer segment, with proactive healthcare services aimed at reducing medical loss ratios and improving quality metrics [39][41] Question: What caused the revenue miss in Q1? - The revenue miss was attributed to the government vertical, with delays in contract launches and RFP responses impacting expected revenues [48][55] Question: What is the margin profile of the migrant-related revenue? - The margins on the migrant program were about 34%, consistent with previous quarters, while the non-migrant mobile health segment had higher margins [78] Question: Are there risks from tariffs on medical equipment? - Management acknowledged potential tariff impacts on fleet procurement and maintenance but expressed confidence in their fleet management capabilities [80]

Financial Data and Key Metrics Changes - The company reported revenue of $3.6 million for Q1 2025, representing a 91.7% sequential increase compared to Q4 2024, exceeding the previously guided growth of 50% [14] - Gross margins improved to 14.9%, an increase of 961 basis points year-over-year, primarily due to better manufacturing efficiency [15] - Operating expenses decreased by 21% year-over-year, reflecting reductions in selling, general and administrative expenses, including salaries and professional fees [15] - The adjusted net loss averaged $333,000 per month in Q1 2025, a 17% improvement over the previously guided adjusted net loss expectations of $400,000 [16] Business Line Data and Key Metrics Changes - The company shipped 24 units in Q1 2025, a sequential increase of 118% compared to Q4 2024 [14] - The average sale price per unit decreased to $151,000 in Q1 2025 from $171,000 in Q4 2024 due to a higher mix of smaller boats [15] - Field inventory decreased significantly from approximately 180 boats to under 60 boats, indicating improved sales and inventory management [7][9] Market Data and Key Metrics Changes - The company noted that the recreational sector faced challenges in 2024, but this provided an opportunity to reset and refocus for future growth [5] - The dealer network expanded with the addition of six new dealer locations, enhancing market presence [6] Company Strategy and Development Direction - The company is focused on operational efficiency, margin expansion, and developing high-impact digital platforms to complement its core business [19] - A new 22-foot twin D Bay Cat model was introduced, targeting the growing inshore market, which is expected to generate strong interest [10] - The company completed a facility expansion of 30,000 square feet to enhance operational efficiency [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued sequential revenue growth in Q2 2025 as the market recovers and the dealer base expands [19] - The company is actively monitoring the impact of tariffs on its supply chain but believes its proactive strategy will help navigate potential challenges [18] Other Important Information - The company reclassified $4.3 million of land and buildings as held for sale, which is expected to strengthen its cash position within the next twelve months [17] - A new interactive website is set to launch, enhancing customer engagement and allowing for real-time customization of products [12] Q&A Session Summary Question: What is the outlook for revenue growth in the upcoming quarters? - Management anticipates continued sequential revenue growth in Q2 2025 as the market slowly recovers and the dealer base expands [19] Question: How is the company addressing the impact of tariffs? - The company is actively monitoring the evolving tariff landscape and believes its strong relationships with US suppliers will help mitigate risks [18]