Financial Data and Key Metrics Changes - Global revenue for the first quarter was $99.6 million, down 14.5% year-over-year on a constant currency basis due to lower volumes across main regions [12][14] - Adjusted EBITDA for the first quarter was a loss of $7.1 million compared to a gain of $600,000 in the prior year quarter, primarily reflecting lower revenues and gross margin [16] - Gross margin decreased to 21.3% from 24.5% in the prior year quarter, mainly due to lower fixed cost absorption and unfavorable product mix [14][15] Business Line Data and Key Metrics Changes - U.S. sales decreased by 19.4% to $49.1 million, reflecting softer market conditions in the residential channel [13] - Canada sales were down 11.5% on a constant currency basis, driven by lower sales in the core business [13] - Australia sales dropped approximately 28.2% on a constant currency basis, mainly due to market uncertainty following the governmental ban on silica-based engineered stone products [13] - EMEA region saw a bright spot with a 16.4% increase on a constant currency basis, driven by improved market conditions [14] Market Data and Key Metrics Changes - Approximately half of the company's revenues are generated in the U.S., which is facing challenges due to a new 10% tariff on imports [10][18] - The Australian market is experiencing slower conditions due to high interest rates and fewer new home completions [13] Company Strategy and Development Direction - The company is shifting more than 70% of its production to a global manufacturing network to adapt quickly to market fluctuations [7] - Ongoing investments in porcelain are seen as a strategic pillar for future growth [7] - The company is pivoting from an industrial-oriented organization to one focused on R&D, marketing, and brand development [10] Management's Comments on Operating Environment and Future Outlook - Management commented on the ongoing global economic headwinds affecting activities across most channels, but noted a modest sequential improvement in revenues and adjusted EBITDA [6] - The company is withdrawing its full-year outlook due to persistent macroeconomic pressures and the impact of U.S. tariffs [22] - Despite challenges, management remains confident in executing their transformation strategy and achieving cost optimization savings of approximately $10 million in 2025 [22] Other Important Information - The company has recorded a provision of $50 million for lawsuits related to exposure to respirable crystalline silica dust, with an insurance receivable of $31.6 million [20][39] - The net exposure from all claims is estimated at $19 million after accounting for the insurance receivable [40] Q&A Session Summary Question: Can you walk through the improvement in gross margin? - Management noted that the improvement in gross margin was due to a modest increase in revenues and benefits from restructuring actions [27][28] Question: Do you expect revenue to move higher as the year progresses? - Management expects gradual revenue increases based on historical seasonality and actions being taken [29] Question: How will the tariffs impact the business? - Management indicated that most competitors face similar tariff dynamics and they are considering price adjustments to mitigate the impact [30][33] Question: What is the status of the lawsuits? - Management clarified that the $50 million provision reflects probable exposure for outstanding claims, with additional complexities surrounding other claims [38][39]

COTY 3Q FY25 EARNINGS CALL May 6, 2025 CURRENT BACKDROP SUE NABI CHIEF EXECUTIVE OFFICER CHALLENGES FROM SLOWER CATEGORY TRENDS, ELEVATED PRESTIGE COMPARISONS AND RETAILER DESTOCKING, AND RECALIBRATED CB EQUATION COTY FOCUSED ON PROTECTING PROFITABILITY, CASH FLOW AND DELEVERAGING PATH COTY MORE STRONGLY POSITIONED TO WEATHER CURRENT TARIFF AND MACRO UNCERTAINTY 2 3 Q3 SALES -2.5% WITH LFL VOLUMES -3%, INCLUDING FRAGRANCES +1% -4.8% PRESTIGE CONSUMER BEAUTY WITH VOLUMES FLAT Notes: All figures refer to LFL ...

Core Insights - Arq, Inc. achieved 8 consecutive quarters of double-digit year-over-year average sales price (ASP) growth, with a strong gross margin of 36.4% and positive adjusted EBITDA for four consecutive quarters, indicating a solid financial performance [1][5][14] - The company signed the second largest PAC contract in its history, showcasing the sustainability and value of its foundational business [1][6] - The timeline for the first commercial GAC production at the Red River facility has been updated to the end of Q2 or early Q3 2025 [1][6] - Jay Voncannon has been appointed as Chief Financial Officer, bringing 35 years of finance experience to oversee the company's transformation and growth [1][6] Financial Highlights - Revenue for Q1 2025 was $27.2 million, a 25% increase from $21.7 million in the prior year, driven by higher ASP, positive product mix changes, and increased volumes sold [5][8] - ASP increased by approximately 13% in Q1 2025 compared to the prior year, marking the eighth consecutive quarter of double-digit year-over-year growth [5][8] - Gross margin was 36.4% in Q1 2025, slightly down from 36.9% in the prior year, influenced by improved pricing and customer mix, offset by start-up costs related to the GAC line [10][13] - Net income for Q1 2025 was $0.2 million, a significant improvement from a net loss of $3.4 million in the prior year [13][14] - Adjusted EBITDA for Q1 2025 was $4.1 million, compared to an adjusted EBITDA loss of $0.4 million in the prior year, reflecting four consecutive quarters of positive adjusted EBITDA [14][15] Operational Highlights - All powder activated carbon (PAC) contracts are now net cash producers following the resolution of negative margin agreements as of December 31, 2024 [5] - The company completed mechanical construction of the GAC facility in January 2025, with small non-commercial scale volumes produced, but not yet at the consistency required for commercial production [6][7] - The company maintains a guidance of a 3-6 month ramp-up phase to reach a 25-million-pound nameplate capacity at Red River after the first commercial production [6] Capital Expenditures and Balance Sheet - Capital expenditures for 2025 are forecasted to remain between $8 million and $12 million, with $3.7 million spent in Q1 2025 [16] - As of March 31, 2025, cash and restricted cash totaled $14.8 million, down from $22.2 million as of December 31, 2024, primarily due to capital expenditures and inventory buildup [16] - Total debt, including financing leases, was $26.8 million as of March 31, 2025, an increase from $24.8 million as of December 31, 2024, driven by the revolving credit facility [17]

Core Viewpoint - The Bonduelle Group reported stable sales for Quarter 3 of FY 2024-2025, confirming its annual objectives despite slight declines in overall sales for the first nine months of the fiscal year [3][4][19]. Sales Performance - Sales for Quarter 3 (January 1 - March 31, 2025) were 529.3 million euros, showing a slight increase of 0.3% compared to the previous year [3][6]. - For the first nine months of FY 2024-2025, total sales amounted to 1,648.7 million euros, reflecting a decline of 1.1% on both reported and like-for-like bases [4][6]. Geographical Performance - The Europe Zone, accounting for 60.7% of business activity, experienced a decline of 5.0% in sales on reported figures and 5.2% on a like-for-like basis for the first nine months [9][10]. - The Non-Europe Zone, which represents 39.3% of business activity, saw an increase of 5.7% on reported figures and 6.0% on a like-for-like basis during the same period [11][12]. Segment Performance - Canned products sales decreased by 6.0% for the first nine months, while frozen products saw a slight decline of 0.7%. Fresh processed products, however, grew by 5.9% [8]. - In Quarter 3, canned products sales fell by 4.4%, frozen products by 4.0%, while fresh processed products increased by 8.4% [8]. Strategic Developments - The Bonduelle Group is in the process of selling its packaged salad business in France and has already sold the German segment to Taylor Farm, which represented sales of 60 million euros [15][16][17]. - The planned downsizing of Bonduelle Frais France includes the closure of the Saint-Mihiel plant by February 28, 2025, and a voluntary redundancy plan for the Genas head office [14]. Outlook - Despite challenges such as difficult harvests in Russia impacting profitability, the Bonduelle Group aims to stabilize sales and maintain recurring operating income for the fiscal year [19].

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $776 million, representing a 19% decline year over year, with approximately 15% attributed to lower core revenues and 4% due to the divestiture of the Towanda operations [11][12] - Adjusted EBITDA for the quarter was $22 million, a decrease of $47 million compared to the prior year, resulting in an adjusted EBITDA margin of 2.8% [12][15] - Free cash flow was a use of $125 million in Q1, compared to a $46 million use in Q1 2024, primarily driven by lower EBITDA and unfavorable working capital dynamics [13][14] - The net debt leverage ratio increased to 4.6 times, exceeding the targeted range of 2 to 2.5 times [14] Business Line Data and Key Metrics Changes - North America segment reported revenue of $531 million for Q1, a 22% decline year over year, with core revenues down 17% primarily due to lower volume [16] - Adjusted EBITDA for North America declined to $16 million from $61 million in the same quarter last year [16] - Europe segment revenue was $245 million, down 12% year over year, driven almost entirely by lower volume, with adjusted EBITDA at $11 million, a decline of $4 million from the prior year [17] Market Data and Key Metrics Changes - Both North America and Europe segments experienced double-digit volume declines during the quarter [8] - The company faced ongoing product mix challenges, although the mix has stabilized compared to prior quarters [14][15] - Tariffs are expected to have an annualized impact of approximately $55 million, with about $30 million anticipated to affect 2025 results [18] Company Strategy and Development Direction - The company is focused on enhancing production capabilities, optimizing manufacturing and distribution networks, and investing in automation to drive efficiency [22][27][28] - The strategic priorities include reestablishing strong partnerships with customers, optimizing operational footprint, and investing in automation to reduce costs [27][28] - The company anticipates achieving approximately $100 million in ongoing transformation benefits and $50 million from short-term actions in 2025 [26] Management's Comments on Operating Environment and Future Outlook - The management expressed concerns about the challenging macroeconomic environment, with elevated interest rates and declining consumer confidence impacting new home construction [21] - The likelihood of a global recession is estimated at approximately 50%, which is affecting repair and remodel activity [21] - Despite the challenges, the management remains focused on cash flow maintenance and generation, with expectations for Q2 adjusted EBITDA to be slightly above Q1 levels [25] Other Important Information - The company is withdrawing its full-year guidance due to significant short-term volatility and ongoing market uncertainties [9] - The management has made difficult decisions to reduce headcount and align operations with current order rates [10][24] Q&A Session Summary Question: Confidence in passing along tariff impacts to customers - Management is in constant negotiation with key customers and believes they can pass through the $30 million tariff impact, while also optimizing their cost structure [33][35] Question: Expectations for Q2 EBITDA - Management expects a seasonal uptick in Q2, but it will be muted compared to historical trends, with sales tracking down roughly 19% [37][38] Question: Managing liquidity risk and balance sheet improvement - The company has ample liquidity and is evaluating options like sale-leaseback or asset sales to strengthen the balance sheet [51][54] Question: Market share opportunities as a U.S.-based producer - Management sees opportunities to regain market share due to tariff impacts on imports, particularly in fiberglass doors [60][62] Question: Progress on standardizing build specifications - Management is making progress on optimizing cost to serve and reducing product complexity, which will aid in future footprint consolidation [88][89] Question: New business wins with builder customers - Management is ahead of expectations for gaining new business, but the materialization of sales will take time due to the cyclical nature of the business [90][92]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $776 million, representing a 19% decline year over year, with approximately 15% attributed to lower core revenues and 4% due to the divestiture of the Towanda operations [11][12] - Adjusted EBITDA for the quarter was $22 million, a decrease of $47 million compared to the prior year, resulting in an adjusted EBITDA margin of 2.8% [12][15] - Free cash flow was a use of $125 million in Q1 2025, compared to a $46 million use in Q1 2024, primarily driven by lower EBITDA and unfavorable working capital dynamics [13][14] - The net debt leverage ratio increased to 4.6 times, exceeding the targeted range of 2 to 2.5 times, with reducing leverage being a high priority for the company [14] Business Line Data and Key Metrics Changes - North America segment reported revenue of $531 million for Q1 2025, a 22% decline year over year, with core revenues decreasing by 17% primarily due to lower volume [16] - Adjusted EBITDA for North America declined to $16 million compared to $61 million in the same quarter last year, reflecting negative impacts from lower volume and productivity challenges [16] - Europe segment revenue for Q1 was $245 million, down 12% year over year, driven almost entirely by lower volume, with adjusted EBITDA of $11 million, a decline of $4 million from the prior year [17] Market Data and Key Metrics Changes - The company experienced double-digit volume declines in both North America and Europe segments during the quarter, with ongoing market declines impacting revenue [7][11] - Tariffs introduced additional planning uncertainty, leading to the withdrawal of full-year guidance [8] - The anticipated annualized impact of tariffs is approximately $55 million, with about $30 million expected to affect 2025 results [18][19] Company Strategy and Development Direction - The company is focused on enhancing production capabilities, optimizing manufacturing and distribution networks, and investing in automation to drive efficiency and reduce costs [28][29] - The strategic priorities include reestablishing strong partnerships with customers, optimizing operational footprint, and investing in automation to enhance productivity [28][29] - The company remains committed to its transformation initiatives, expecting to achieve approximately $100 million in ongoing transformation benefits this year [27] Management's Comments on Operating Environment and Future Outlook - The management highlighted the challenging macroeconomic environment, with elevated interest rates and declining consumer confidence impacting new home construction and repair activities [22] - Despite significant headwinds, the company anticipates that Q2 adjusted EBITDA will be slightly above Q1 levels, driven by cost reduction initiatives [26] - The management expressed confidence in navigating current challenges and believes the company will be well-positioned once markets stabilize [30] Other Important Information - The company has made difficult decisions to reduce headcount and consolidate workflows to adapt to the current business environment [25] - The company is actively managing working capital and reviewing capital expenditure requests to strengthen its balance sheet [52] Q&A Session Summary Question: Confidence in passing along tariff impact to customers - Management is in constant negotiation with key customers regarding tariff impacts and believes they can pass through surcharges while optimizing cost structures [34][35] Question: Expectations for Q2 EBITDA improvement - Management expects a seasonal uptick in Q2, but it will be muted compared to historical trends due to ongoing uncertainty [38][39] Question: Confidence in offsetting non-tariff inflation - Management maintains that $50 million is still a good estimate for non-tariff related input cost increases, with a focus on service and quality to remain competitive [79] Question: Update on Towanda divestiture impact - Management expects to see results towards the higher end of the EBITDA impact range from the Towanda divestiture [82] Question: Progress on standardizing build specifications - Management reports progress in optimizing cost to serve and reducing product complexity, which will aid in future footprint consolidation [90] Question: CapEx outlook and flexibility - Management has flexibility with CapEx and is focused on balancing short-term and long-term investments, with potential reductions if market conditions worsen [100]

Core Insights - FTI Consulting has appointed Scott Cockerham as Senior Managing Director in the Corporate Finance & Restructuring segment, focusing on the Power, Renewables & Energy Transition practice in Houston [1][2] Company Overview - FTI Consulting is a global expert firm specializing in crisis and transformation, with over 8,100 employees across 33 countries as of March 31, 2025 [4] - The company generated $3.70 billion in revenues during fiscal year 2024 [4] Leadership and Expertise - Scott Cockerham brings over 20 years of experience in business transformation, turnarounds, and restructurings, having held various leadership roles including CEO and CFO [2][3] - Cockerham's previous role was as Chief Financial Officer at Camin Cargo Control, and he co-led the restructuring energy team at a global consulting firm [3] Industry Context - The energy sector is facing unprecedented uncertainty due to macroeconomic trends and policy shifts, impacting business plans [3] - FTI Consulting aims to leverage Cockerham's expertise to assist clients in navigating challenges and creating value in the dynamic energy landscape [3][4]

Financial Data and Key Metrics Changes - AAM's first quarter 2025 sales were $1.41 billion, down from $1.61 billion in the same quarter of 2024 [20][21] - Adjusted EBITDA for the first quarter was $177 million, representing a margin of 12.6%, compared to $205.6 million and 12.8% in the prior year [22][26] - GAAP net income was $7.1 million or $0.06 per share, down from $20.5 million or $0.17 per share in the first quarter of 2024 [26] - Adjusted free cash flow was a use of $3.9 million, an improvement from the previous year [27] Business Line Data and Key Metrics Changes - North American production decreased approximately 5% year-over-year [9] - The Metal Form business unit showed improved EBITDA margins, increasing by 150 basis points year-over-year [22] Market Data and Key Metrics Changes - AAM's sales were impacted by a lower overall volume in North America, with a volume mix decline of $166 million [21] - Foreign exchange effects, particularly from a weaker Brazilian real, contributed to a sales reduction of approximately $28 million [21] Company Strategy and Development Direction - AAM exited its Hefei AM Automotive and Luocho AM Automotive joint ventures in China, collecting approximately $30 million in cash [10] - The company is focused on a transformational transaction with DALL E, expected to close in Q4 2025, which aims to generate approximately $300 million in synergies [11][12] - AAM's strategy includes a strong emphasis on local production, with 90% of products produced in North America being USMCA compliant [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macro uncertainties due to new trade policies but expressed confidence in navigating these challenges [13][36] - The company updated its 2025 guidance, targeting sales between $5.65 billion and $5.95 billion, with adjusted EBITDA of approximately $665 million to $745 million [17][33] - Management remains optimistic about the future, emphasizing the importance of closing and integrating the DALL E transaction and advancing their product portfolio [19][36] Other Important Information - AAM's net cash provided by operating activities for Q1 2025 was $55.9 million, significantly higher than $17.8 million in Q1 2024 [27] - The company ended the quarter with a strong cash position of over $500 million and total available liquidity of approximately $1.5 billion [28] Q&A Session Summary Question: Thoughts on future contingencies and utilization of excess capacity - Management indicated that they have some open capacity in U.S. facilities and are willing to make adjustments based on customer needs [41][42] Question: Tariff exposure for DALL E - Management stated that DALL E has a similar footprint and is managing tariff exposure similarly to AAM [46][47] Question: GM's positive volume outlook and its impact on guidance - Management confirmed that their guidance incorporates GM's strong demand for full-size trucks, expecting production in the range of 1.3 million to 1.4 million units [50][51] Question: Impact of macro volatility on the DALL E transaction - Management clarified that macro volatility has not complicated the transaction process, and both companies are focused on local production [54] Question: Near-term production schedules - Management noted some volatility in customer schedules but emphasized strong performance in key platforms [59][62] Question: Tariff policies and their impact - Management confirmed that under current USMCA policies, tariff impacts are limited, and they are working to ensure compliance [68][69] Question: Balance sheet structure post-transaction - Management discussed the challenges of moving production facilities and emphasized the long-term nature of such changes [122]

Core Viewpoint - Blue Hat Interactive Entertainment Technology has undergone a significant strategic transformation, focusing on the gold industry, which has resulted in a substantial decrease in revenues but notable improvements in asset growth and operational efficiency [1][2]. Financial Performance - Total revenues decreased by 74.59% to $18.72 million in 2024 from $73.69 million in 2023 due to the strategic business transformation [1]. - Total assets grew by 53%, with current assets increasing by 78%, primarily driven by the acquisition of 1 ton of physical gold for approximately $66.49 million [1]. - The net loss was reduced by 56%, from $21.72 million in 2023 to $9.52 million in 2024, indicating improved operational quality [1]. - Gross margin increased from 1.6% in 2023 to 8.3% in 2024, reflecting a significant breakthrough in profit quality [2]. - Net cash outflow from operating activities decreased by 91%, from $9.77 million to $880,000, showcasing enhanced operational efficiency [2]. Strategic Focus - In 2025, the company aims to deepen its presence in the gold industry with three strategic priorities: managing and potentially expanding physical gold reserves, integrating supply chain resources, and developing a digital gold trading platform [3]. - The company seeks to create a transparent and efficient paradigm for gold trading through technology empowerment and business model innovation [3]. Company Background - Blue Hat was previously involved in communication services and AR interactive entertainment but is now transitioning to become a leading intelligent commodity trader, focusing on commodity trading [4].

Financial Data and Key Metrics Changes - The company reported revenue of $162.1 million for Q1 2025, down 11.2% sequentially and down 1.5% year over year [19] - Non-GAAP gross margins were 35%, a 550 basis point increase compared to 29.5% in the prior year [22] - Non-GAAP operating loss was $2.6 million, resulting in a non-GAAP operating margin of negative 1.6%, an improvement of 80 basis points year over year [26] Business Line Data and Key Metrics Changes - The NFV segment generated $79.2 million in revenue, up 15.4% year over year, despite a 2% sequential decline [20] - Mobile business revenue was $21.5 million, down 25.3% year over year and down 10.9% sequentially [20] - Home Networking revenue was $61.4 million, down 8.7% year over year and down 20.8% sequentially [21] Market Data and Key Metrics Changes - The company gained market share in the U.S. and Europe in Home Networking, despite a slight contraction in the overall market [13] - The company exited Q1 with 559,000 recurring subscribers, generating $8.7 million in recurring service revenue, a year-over-year increase of 19.3% [21] Company Strategy and Development Direction - The company is focused on maximizing impact in 2025 through a reorganization aimed at unlocking value in each business [8] - The acquisition of VOG Systems is part of the strategy to enhance software development capabilities and leverage AI for small and medium enterprises [11][51] - The company aims to continue investing in R&D, particularly in the Chennai-based software development center [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the geopolitical situation due to not manufacturing in China and being exempt from tariffs [14] - The company expects to see more predictable performance aligned with market trends and anticipates continued strong demand for ProAV managed switches [28] - Guidance for Q2 2025 expects revenue between $155 million and $170 million, with gross margins expected to remain stable or decrease slightly [29] Other Important Information - The company repurchased $7.5 million of its shares during the quarter [19] - Cash and short-term investments at the end of Q1 were approximately $392 million [27] Q&A Session Summary Question: Impact of competitive dynamics and TP Link situation - Management noted that the tariff landscape has worked in their favor, benefiting from not manufacturing in China and having tariff exemptions [35][36] Question: Revenue expectations for the rest of the year - Management indicated that while Q2 has easier comparisons, they expect continued growth momentum, particularly in the NFV segment [39][40] Question: Sustainability of gross margins and operating margins trajectory - Management believes gross margins are sustainable due to the current business mix and expects operating margins to improve as investments ramp up [45][48] Question: Strategic rationale for the VOG acquisition and free cash flow expectations - The acquisition is aimed at enhancing software capabilities and reducing costs, with free cash flow expected to correlate with non-GAAP net income [51][55]