Skyward Specialty Insurance Group (SKWD) Q1 2025 Earnings Call May 02, 2025 09:30 AM ET Company Participants Natalie Schoolcraft - VP - IRAndrew Robinson - CEO & Chairman of BoardMark Haushill - Executive VP & CFOMatt Carletti - Managing DirectorMeyer Shields - Managing DirectorC. Gregory Peters - Managing Director - InsuranceAndrew Kligerman - Managing Director Conference Call Participants Alex Scott - Equity Research AnalystMark Hughes - AnalystMike Phillips - Managing Director and Insurance Analyst Opera ...

Skyward Specialty Insurance Group (SKWD) Q1 2025 Earnings Call May 02, 2025 09:30 AM ET Speaker0 Ladies and gentlemen, thank you for standing by, and welcome to Skyward Specialty First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. Please be advised that today's conference is being recorded. I would like now to turn the conference over to Natalie Schoolcraft, Vice Pr ...

Core Insights - The article emphasizes the importance of quantitative research, financial modeling, and risk management in identifying high-growth investment opportunities [1] - It highlights the significance of combining risk management with long-term value creation in investment strategies [1] Company Analysis - The analyst has over 20 years of experience in equity valuation and market trends, indicating a strong background in assessing company performance [1] - The former Vice President at Barclays has led teams in model validation and stress testing, showcasing expertise in regulatory finance [1] Industry Trends - There is a keen interest in macroeconomic trends and corporate earnings, which are critical for understanding market dynamics [1] - The focus on data-driven insights suggests a growing reliance on quantitative analysis in investment decision-making [1]

Market Overview - The S&P 500 and Dow Jones Industrial Average have risen for seven consecutive days, indicating a potential eighth gain, marking a turnaround from recent volatility [1] - A breadth thrust has led to renewed buying pressure, with 70% or more advancing issues in each session during a three-day stretch [2] Earnings Season Insights - The first-quarter earnings season is halfway through, with 256 S&P 500 companies reporting a 14% increase in total earnings and 4% higher revenues compared to the previous year [3] - Meta Platforms (META) reported earnings of $6.43 per share on revenues of $42.3 billion, beating estimates by 23.2% and 2.6% respectively, and provided upbeat revenue guidance [4][5] - Microsoft (MSFT) surpassed fiscal Q3 estimates with earnings of $3.46 per share, an 8.1% surprise, and cloud revenue of $42.4 billion, up over 20% year-over-year [7] Economic Data and Federal Reserve Implications - The US economy contracted at an annual rate of 0.3% in Q1, lower than the expected 0.1%, marking the first quarter of negative growth since Q1 2022 [9][10] - The core PCE index, the Fed's preferred inflation gauge, remained flat over the prior month, with a 12-month increase of 2.6%, aligning with estimates [11] - Market participants are anticipating four rate cuts this year, with the odds of a June rate cut climbing to approximately 67% following the latest inflation data [12] Market Sentiment and Future Outlook - A broad breadth thrust indicates a potential resumption of a longer-term bullish trend, although major US indexes are nearing potential resistance areas [13] - Positive reactions to earnings are crucial for sustaining market momentum as the first-quarter earnings season continues [14]

Financial Data and Key Metrics Changes - The company reported core FFO for the quarter of $2.2 per diluted share, which was $0.04 per share above the midpoint of guidance [23] - Same store revenue growth for the quarter was 0.1%, driven by solid collections and occupancy [16][23] - Average physical occupancy increased to 95.6%, up 30 basis points compared to the same period in 2024 [16] Business Line Data and Key Metrics Changes - New lease pricing on a lease over lease basis for the first quarter was negative 6.3%, while renewal rates grew 4.5% [15][16] - The blended lease pricing for the first quarter was negative 0.5%, representing a 160 basis point improvement sequentially from the fourth quarter of 2024 [16] - The company completed 1,102 interior unit upgrades, achieving rent increases of $90 above non-upgraded units [19] Market Data and Key Metrics Changes - Virginia markets, including Richmond and Norfolk, outperformed the portfolio average, while Austin, Phoenix, and Nashville continued to struggle with supply pressure [17] - The company noted strong demand trends with record absorption levels in its markets, indicating a robust recovery as supply declines [21] - The occupancy for lease-up properties was at 71.6%, with one property reaching stabilization [18] Company Strategy and Development Direction - The company is focused on high growth markets and plans to start three to four new developments this year, with a suburban development in Charleston, South Carolina, on track for construction [10][11] - Investments in technology initiatives and property-wide WiFi are expected to enhance operational efficiencies and support future earnings growth [10][20] - The company aims to recycle its portfolio by selling underperforming assets and reallocating capital to markets with better growth potential [11][65] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery cycle and the ability of the market to absorb new supply, citing a diversified and higher quality portfolio [12] - The company remains cautious about macroeconomic uncertainties but believes its operational efficiencies and market positioning will allow it to weather potential challenges [8] - Management indicated that the leasing environment is expected to improve, with new lease rates showing signs of acceleration [32] Other Important Information - The company maintains a strong balance sheet with $1 billion in cash and borrowing capacity, and 94% of outstanding debt is fixed [24] - The development pipeline is expected to remain in the $1 billion to $1.2 billion range, which is considered comfortable given the company's scale [11] Q&A Session Summary Question: Visibility on new lease spreads for late May or early June - Management indicated they have good visibility on new lease spreads, with a fair amount of data available for May and June [27][28] Question: Confidence in inflection in rent growth - Management noted that new lease rates have shown steady acceleration, with expectations for continued improvement into Q2 [32] Question: Impact of concessions on lease rates - Concessions have been relatively consistent, slightly down from the previous year, with most markets seeing half a month to a month of concessions [55] Question: Development cost locking and impact of tariffs - Management stated that development costs are generally locked in at around 95% when construction begins, with no significant impact from tariffs observed so far [41][42] Question: Performance of urban versus suburban markets - Management noted that urban markets may have more upside potential as supply normalizes, but performance between urban and suburban has been converging [46] Question: Improvement in Atlanta market - Atlanta has shown relative improvement, with new lease pricing and occupancy recovering compared to the previous year [50] Question: Expectations for leasing cadence and blended spreads - Management expects blended spreads to improve in Q2 and Q3, with a heavier weighting towards renewals [88]

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate rev ...

CVS Health (CVS) Q1 2025 Earnings Call May 01, 2025 08:00 AM ET Speaker0 Good morning, and thank you all for attending the CVS Health Q1 twenty twenty five Earnings Conference Call. My name is Breeka, and I will be your moderator for today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. I would now like to pass the conference over to your host, Larry McGrath, Chief Strategy Officer. Thank you. You may proceed, Larry. Speaker1 Goo ...

CVS Health (CVS) Q1 2025 Earnings Call May 01, 2025 08:00 AM ET Company Participants Larry McGrath - Executive VP, Chief Strategy Officer & Chief Strategic Advisor to the CEODavid Joyner - President & CEOThomas Cowhey - Executive Vice President & CFOSteve Nelson - Executive Vice President and President, AetnaLisa Gill - Managing DirectorPrem Shah - Executive Vice President and Group PresidentAndrew Mok - DirectorCharles Rhyee - Managing Director Conference Call Participants Justin Lake - Analyst - Healthcar ...

The Hershey Company (HSY) Q1 2025 Earnings Call April 30, 2025 08:00 PM ET Company Participants Anoori Naughton - Senior Director - Investor RelationsMichele Buck - Chairman, President & CEOSteve Voskuil - Senior Vice President & Chief Financial Officer Anoori Naughton Good morning, and welcome to the pre recorded discussion of The Hershey Company's First Quarter twenty twenty five Earnings Results. I'm Inori Naughton, Senior Director of Investor Relations. Joining me today are Hershey's Chairman and CEO, M ...

Core Viewpoint - The article emphasizes the importance of identifying and maintaining trends in short-term investing, highlighting that sound fundamentals and positive earnings estimates are crucial for sustaining momentum in stock prices [1]. Group 1: Stock Performance - Sabesp (SBS) has shown a solid price increase of 20.5% over the past 12 weeks, indicating strong investor interest [3]. - The stock has also increased by 12.7% in the last four weeks, suggesting that the upward trend is still intact [4]. - SBS is currently trading at 97.7% of its 52-week high-low range, indicating a potential breakout [4]. Group 2: Fundamental Strength - SBS holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [5]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [6]. Group 3: Investment Strategy - The "Recent Price Strength" screen is a useful tool for identifying stocks like SBS that have the fundamental strength to maintain their uptrend [2]. - The article suggests that there are several other stocks passing through this screen, which may also present investment opportunities [7].