Antero Midstream (AM) Q1 2025 Earnings Call May 01, 2025 12:00 PM ET Company Participants Justin Agnew - VP - Finance & IRPaul Rady - President, Chairman & CEOBrendan Krueger - CFO, VP of Finance & TreasurerDavid Cannelongo - Senior Vice President of Liquids Marketing & TransportationNaomi Marfatia - Associate Director - Equity ResearchJohn Mackay - VP - Equity ResearchMichael Kennedy - Director & SVP - Finance, CFO of Antero ResourcesZack Van Everen - Director - Equity Research Conference Call Participants ...

Financial Data and Key Metrics Changes - In Q1 2025, the company generated $274 million of EBITDA, representing a 3% year-over-year increase, driven by higher gathering and processing volumes, with processing volumes setting a record at 1.65 Bcf per day [10] - Free cash flow after dividends was $79 million, a 7% increase year-over-year, marking the eleventh consecutive quarter of positive free cash flow after dividends [11] - The company's leverage declined to approximately 2.9 times as of March 31, indicating a strong balance sheet [11][12] Business Line Data and Key Metrics Changes - The company reported an increase in gathering and processing volumes, with expectations for low to mid single-digit year-over-year growth in gathering volumes for 2025 compared to 2024 [10] - The capital expenditures as a percentage of EBITDA stood at 17%, highlighting the company's capital efficiency compared to peers in the midstream industry [12] Market Data and Key Metrics Changes - The Appalachian region is experiencing significant growth in natural gas demand, particularly for power generation and data centers, with expectations for natural gas demand estimates to double by 2030 [8][9] - The percentage of data centers expected to be powered by natural gas has increased from 50% to 70%, indicating a strong market trend [8] Company Strategy and Development Direction - The company is focused on capital efficiency and returning capital to shareholders, with plans to allocate approximately 65% of its EBITDA for dividends, debt reduction, and share repurchases [12][13] - The company is well-positioned for future growth due to its investment-grade upstream counterparties and significant infrastructure in the region [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term outlook for natural gas demand, particularly in the Appalachian region, and highlighted ongoing discussions regarding local power demand [19][20] - The medium to long-term outlook for the company is viewed as increasingly positive, with a flexible capital allocation strategy to capitalize on high-return opportunities [14] Other Important Information - The company has achieved significant reuse savings of approximately $30 million at the Torrey's Peak compressor station and over $50 million across all three stations constructed with relocated underutilized units [5] - The company has secured materials and pricing for its capital projects through 2026, minimizing impacts from tariffs and macroeconomic factors [6] Q&A Session Summary Question: Potential for in-basin demand growth - Management noted ongoing discussions about local power demand, particularly for data centers, and expressed confidence in the company's infrastructure to support this growth [18][20] Question: Outlook for propane market - Management reiterated confidence in the long-term outlook for propane, emphasizing its unique position in the market and the steady growth expected in the residential and commercial sectors [21][24] Question: Joint venture outlook and liquid-rich production - Management indicated comfort with current production levels and stated that future evaluations will depend on market prices and long-term outlooks for gas and liquids [25][26] Question: Commercialization of data centers - Management stated that conversations are ongoing regarding infrastructure build-out to meet demand but did not provide specific details at this time [31] Question: Capital allocation strategy - Management confirmed a continued focus on debt reduction and share buybacks while remaining open to M&A opportunities as they arise [32][33] Question: Water service expectations - Management confirmed expectations to service 70 to 75 wells as previously guided, with similar volume levels anticipated for Q2 [43]

Targa Resources (TRGP) Q1 2025 Earnings Call May 01, 2025 11:00 AM ET Company Participants Tristan Richardson - VP - Investor RelationsMatthew Meloy - CEOJennifer Kneale - PresidentWilliam Byers - Executive Vice President & CFOSpiro Dounis - DirectorMichael Blum - Managing DirectorScott Pryor - President, Logistics and TransportationManav Gupta - Executive DirectorRobert Muraro - Chief Commercial OfficerKeith Stanley - DirectorJohn Mackay - VP - Equity ResearchAndrew O'Donnell - Director - Equity ResearchPa ...

Targa Resources (TRGP) Q1 2025 Earnings Call May 01, 2025 11:00 AM ET Speaker0 Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Tristan Richardson, Vice President, Investor Relations and Fundamentals. Please go ahead. Speaker1 Thanks, Michelle. Good morning, and welcome to the first quarter twenty twenty five earnings call for Target Resources Corp. The first quarter earnings release, along with the first quarter supplement pres ...

Schneider National (SNDR) Q1 2025 Earnings Call May 01, 2025 10:30 AM ET Speaker0 Thank you. I'd now like to turn the call over to Steve Bindis, Director of Investor Relations. You may begin. Speaker1 Thank you, operator, and good morning, everyone. Joining me on the call today are Mark Wark, President and Chief Executive Officer Daryl Campbell, executive vice president and chief financial officer and Jim Filter, executive vice president and group president of Transportation Logistics. Earlier today, the co ...

Financial Data and Key Metrics Changes - The company reported a net income of $12 million and earnings per share of $0.50 for the quarter [5] - Net interest income grew by 7% to $51.4 million compared to the previous year [13] - The net interest margin on gross loans was 7.94%, up 10 basis points from the previous quarter [13] - The net book value per share increased to $16.36 from $16 in the prior quarter and $14.93 a year ago [17] Business Line Data and Key Metrics Changes - The consumer lending business originated $136 million in loans, maintaining a loan book of $2.4 billion [5] - Recreation loans originated totaled $86.8 million at an average rate of 16.06%, while home improvement loans were $48.8 million at an average rate of 11.5% [14] - The commercial lending division originated $9.7 million in new loans and exited one loan with a significant return [6][7] Market Data and Key Metrics Changes - The company collected $2.6 million in cash from its taxi medallion business, consistent with the previous quarter [9] - The strategic partnership program achieved over $125 million in originations for the second consecutive quarter [10] Company Strategy and Development Direction - The company is focused on a methodical approach to growth, ensuring sustainable practices in its lending operations [11] - There is an ongoing effort to expand the strategic partnership program, with expectations to add new partners over time [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of cash collections from the taxi medallion business and identified recovery opportunities in charge-off loans [9] - The company anticipates continued gains from its equity investments, although the timing of exits remains unpredictable [8][27] Other Important Information - The company repurchased approximately 60,000 shares and has $15 million remaining under its share repurchase plan [11] - A 9% increase in the quarterly dividend to $0.12 per share was approved by the Board, marking the third increase since reinstating the dividend [12] Q&A Session Summary Question: Were there any nonrecurring expense items aside from those highlighted? - Management noted elevated professional fees, including $300,000 in technology costs and $600,000 related to the annual meeting [20] Question: Any update on the SEC matter? - Management believes the SEC matter has been resolved, pending board approval and judicial sign-off [22] Question: What flexibility exists in building reserves? - Management confirmed flexibility in determining allowances, using qualitative factors to increase consumer provisions [23] Question: Any anticipated capital gains from Medallion Capital? - Management expects one or two more capital gains this year, though timing is uncertain [27] Question: Outlook on normalized earnings? - Management discussed adjustments for nonrecurring items and expected normalized earnings to be around $0.35 per share [36] Question: Timing for loan sales? - Management anticipates closing a loan sale in Q2, with another sale expected in Q3 or Q4 [38] Question: Durability of strategic partnership loan volume? - Management expressed confidence in maintaining loan volume above $100 million per quarter, with potential for growth [43] Question: Outlook on margins and loan growth? - Management expects margins to remain stable and projects loan growth of 5% to 7% for the year [48]

Sixth Street Specialty Lending (TSLX) Q1 2025 Earnings Call May 01, 2025 08:30 AM ET Company Participants Cami VanHoard - Head of Investor RelationsJoshua Easterly - Chairman, CEO & Co-CIO of the AdviserRobert Stanley - Vice PresidentIan Simmonds - CFOFinian O'shea - Director, WFS ResearchBrian Mckenna - Director - Equity ResearchMickey Schleien - Managing Director, Equity ResearchKenneth Lee - Vice PresidentMaxwell Fritscher - Equity Research AssociateMelissa Wedel - Vice President, U.S. Equities ResearchR ...

Stonegate Capital Partners Updates Coverage on Civeo Corporation (CVEO) 2025 Q1May 01, 2025 9:25 AM EDT | Source: Reportable, Inc. Dallas, Texas--(Newsfile Corp. - May 1, 2025) - Civeo Corporation (NYSE: CVEO): Stonegate Capital Partners updates their coverage on Civeo Corporation. Civeo reported negative free cash flow of ($13.5M) in 1Q25, down from $7.2M in the prior-year period, primarily due to negative operating cash flow of ($8.4M) and $5.3M in capital expenditures. Despite near-term hea ...

Cimpress plc (CMPR) Q3 2025 Earnings Call May 01, 2025 08:00 AM ET Company Participants Meredith Burns - VP - Investor Relations & SustainabilityRobert Keane - Chairman & CEOSean Quinn - EVP & CFO Operator Ladies and gentlemen, thank you for standing by. Welcome to the CIMPRESS Third Quarter Fiscal Year twenty twenty five Earnings Call. Now I will introduce Meredith Barnes, Vice President of Investor Relations and Sustainability. Please go ahead. Meredith Burns Thank you, Carmen, and thank you, everyone, fo ...

Sixth Street Specialty Lending (TSLX) Q1 2025 Earnings Call May 01, 2025 08:30 AM ET Speaker0 Good day, and thank you for standing by. Welcome to the Sixth Street Specialty Lending, Inc. First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in listen only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear automated message if your han ...