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Affiliated Managers (AMG) - 2025 Q1 - Earnings Call Transcript
2025-05-08 17:02
Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $228 million, a decline of 12% year over year, primarily due to lower performance fees and a comparison to a one-time private market catch-up fee from the previous year [20][21] - Economic earnings per share were $5.2, reflecting a 3% year-over-year decline, influenced by a $77 million write-down on certain mutual fund assets [21][22] - The company expects adjusted EBITDA for the second quarter to be between $210 million and $225 million, based on current AUM levels [22] Business Line Data and Key Metrics Changes - The private markets affiliates raised $3 billion in the quarter, primarily in credit, infrastructure, and private market solutions [13] - Liquid alternatives saw record net inflows of $10 billion, driven mainly by tax-aware solutions, marking the strongest quarterly flow number in liquid alternatives in the company's history [14][15] - The company experienced net outflows of approximately $14 billion in equities, reflecting industry headwinds [15] Market Data and Key Metrics Changes - The company generated a record $14 billion in net client cash inflows into alternative strategies, which offset outflows from the long-only business [5][6] - The ongoing market volatility has created opportunities for high-quality investment teams to differentiate themselves, particularly in equities [44] Company Strategy and Development Direction - The company is focusing on strategic capital allocation towards areas of secular growth, particularly in private markets and liquid alternatives [5][6] - Three new partnerships were announced in 2025, with a total commitment of approximately $700 million, expected to be accretive to earnings and improve organic growth [6][10] - The company aims to evolve its business mix towards alternatives, anticipating that alternatives will represent over 50% of earnings in the future [57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to generate incremental shareholder value over time, supported by a strong capital position and a diverse business model [11][25] - The company remains committed to disciplined capital allocation, with plans to repurchase approximately $400 million in shares for the full year, subject to market conditions [25] - Management highlighted the importance of the U.S. Wealth channel and the ongoing demand for alternative products, which is expected to drive future growth [66] Other Important Information - The company has a strong liquidity position and a long-dated capital structure, enabling it to execute its growth strategy effectively [23] - The expected proceeds from the Peppertree transaction are approximately $240 million, which will enhance the company's ability to continue capital allocation towards strategic growth areas [24] Q&A Session Summary Question: What drives the decision to part with one of the affiliates, especially in private markets? - Management stated that the partnership model is centered around supporting affiliates' independence, and any strategic decisions are mutually agreed upon. The recent liquidity events highlight the underlying business value of affiliates [30][34] Question: Can you discuss the diversity of flows in liquid alternatives and the outlook? - Management noted that liquid alternatives had a standout quarter with $10 billion in net inflows, driven by tax-aware solutions, and emphasized the strong positioning of high-quality liquid alternative firms to deliver excellent risk-adjusted returns [39][41] Question: What are the dynamics in the equity market regarding investor allocations? - Management acknowledged headwinds in equities but noted opportunities for high-quality investment teams to differentiate themselves, particularly with a focus on quality-oriented and defensive approaches [44][46] Question: Can you clarify the 8% accretion from new investments? - Management confirmed that the 8% accretion is based on economic earnings per share and is expected to begin in 2026, following the completion of the Peppertree and Qualitas transactions [50][51] Question: How is the distribution expansion for existing products going? - Management highlighted the growth of alternatives AUM on the U.S. Wealth platform and the successful launch of new products, indicating a strong pipeline for future product development [63][67]
Gold Royalty(GROY) - 2025 Q1 - Earnings Call Transcript
2025-05-08 16:00
Financial Data and Key Metrics Changes - The company reported total revenue of $3.6 million for the quarter, translating to 1,249 gold equivalent ounces [5] - Operating cash flow reached a record of $2.5 million, an increase of over 180% compared to the previous quarter [5] - Adjusted EBITDA was $1.7 million, representing an increase of over 30% compared to the previous quarter [5] - General and administrative costs were $1.8 million during the quarter, indicating effective cost management [5] Business Line Data and Key Metrics Changes - Production in Q1 represented approximately 20% of the midpoint of the full-year guidance range of 5,700 to 7,000 gold equivalent ounces [6] - The ramp-up of the Verus, Cote, and Bobarima mines is expected to contribute significantly to production growth throughout the year [6][10] Market Data and Key Metrics Changes - Spot gold prices reached record highs, recently exceeding $3,300 per ounce, which positively impacted revenue and cash flow [3] - The company assumes a gold price of $2,212 per ounce and a copper price of $4.24 per pound in its five-year outlook [7] Company Strategy and Development Direction - The company is focused on debt reduction while considering capital returns to shareholders and pursuing strategic growth opportunities [4] - Capital allocation remains a strategic priority, with an emphasis on maintaining a scalable business model that keeps costs flat [4] - The company aims to report positive free cash flows later this year for the first time [4] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a transformative year ahead, driven by strong gold prices and increased production from key mines [3] - The company anticipates steady improvement in production as projects ramp up and derisk [6] - Management highlighted the potential for a significant increase in production volumes, projecting a 360% increase over the next five years [14] Other Important Information - The company maintains a clear focus on capital discipline and is exploring opportunities for new royalties and streams, particularly in earlier-stage assets [30] - The upcoming Capital Markets Day on June 12 is expected to provide further insights into the company's portfolio and strategic direction [14] Q&A Session Summary Question: What should be modeled for ounces in the second quarter? - Management indicated that Q1 production was lighter than expected, and a significant step-up in Q2 is anticipated as assets ramp up towards commercial production [22] Question: Where do you see the most variability in the long-term outlook? - Management noted variability could stem from Canadian Malartic and Odyssey, with potential upside from Bulbarema due to ongoing developments [24][26] Question: How has the market for new transactions changed with high gold prices? - The company is seeing more opportunities for new royalties on earlier-stage assets, emphasizing a disciplined capital allocation strategy [30]
Western Midstream(WES) - 2025 Q1 - Earnings Call Transcript
2025-05-08 15:02
Financial Data and Key Metrics Changes - In Q1 2025, the company generated net income attributable to limited partners of $300 million and adjusted EBITDA of $594 million, with a decrease in adjusted gross margin by $8 million compared to Q4 2024 [16][18] - The company maintained a trailing twelve-month net leverage ratio of just below three times at quarter end, with liquidity of approximately $2.4 billion [6][17] Business Line Data and Key Metrics Changes - Natural gas throughput decreased by 2% sequentially, primarily due to lower volumes from the DJ Basin and Powder River Basin, while crude oil and NGL throughput decreased by 6% [9][10] - The adjusted gross margin for natural gas assets increased by $0.05 per 1,000 cubic feet, driven by higher excess natural gas liquids volumes and pricing [10][11] Market Data and Key Metrics Changes - The company expects mid-single-digit percentage growth in year-over-year throughput for natural gas and produced water, and low-single-digit growth for crude oil and NGLs [12][14] - Delaware Basin is anticipated to continue being the main engine of throughput growth in 2025, with modest growth expected across all product lines [12][14] Company Strategy and Development Direction - The company emphasizes prudent capital allocation and maintaining a strong balance sheet, with net leverage at or below 3x, allowing for growth while increasing distributions [19][20] - The company is focused on organic growth projects backed by minimum volume commitments, which provide stability during commodity price fluctuations [19][20] Management's Comments on Operating Environment and Future Outlook - Management noted that recent market volatility has not changed their strategy, and they remain prepared to adjust plans based on customer activity and market conditions [6][19] - The company is closely monitoring customer capital discipline and operational efficiency in light of recent commodity price weakness [12][44] Other Important Information - The company declared a quarterly distribution of $0.91 per unit, representing a 4% increase over the prior quarter [17] - Bob Phillips, former CEO of Crestwood Equity Partners, has joined the board as an independent director, bringing significant midstream expertise [21][22] Q&A Session Summary Question: How will capital allocation change in a slower growth environment? - Management stated that their strategy remains unchanged, and they are prepared to take advantage of potential acquisitions if organic growth opportunities slow [24][25] Question: What is the guidance for the rest of the year? - Management expects volumes to pick up, driven by West Texas and Uinta, with no material changes to the outlook [26][27] Question: Any updates on the PATHFINDER project? - Management reported positive discussions with customers and midstream players, seeking minimum volume commitments for the pipeline [32][33] Question: How recent are conversations with producer customers regarding CapEx cuts? - Management indicated that conversations are ongoing and real-time, with no significant changes in guidance despite some producers announcing CapEx cuts [42][44] Question: How would CapEx look in a flat Permian production environment? - Management suggested that CapEx would likely be at the low end of the current guidance range if flat production occurs [66][68]
Murphy Oil(MUR) - 2025 Q1 - Earnings Call Transcript
2025-05-08 14:00
Financial Data and Key Metrics Changes - Murphy generated $636 million in revenue for Q1 2025, with an average realized oil price of $72 per barrel, natural gas liquids price of nearly $26 per barrel, and natural gas price of $2.67 per 1,000 cubic feet [10][11] - The company produced 157,000 barrels of oil equivalent per day in Q1 2025, which included 78,500 barrels of oil per day [8][10] - Shareholder returns totaled $147 million in Q1 2025, comprising $100 million in share repurchases and $47 million in dividends [6][7] Business Line Data and Key Metrics Changes - Eagle Ford Shale produced 25,000 barrels of oil equivalent per day in Q1 2025, with 83% liquids [14] - Tupper Montney produced 340 million cubic feet per day in Q1 2025, with five wells brought online as planned [15] - Offshore assets produced a combined 71,000 barrels of oil equivalent per day in Q1 2025, with 83% oil [17] Market Data and Key Metrics Changes - The company experienced approximately 6,000 barrels of oil equivalent per day of production impacts due to non-operated unplanned downtime in the Gulf of America and production curtailments in offshore Canada [9] - The average realized oil price of $72 per barrel reflects market conditions impacting revenue generation [10] Company Strategy and Development Direction - Murphy remains focused on operational excellence, multi-basin portfolio expansion, and capital returns to shareholders, with a commitment to allocate a minimum of 50% of adjusted free cash flow to shareholder returns [5][7] - The company plans to drill two operated exploration wells in the Gulf of America in the second half of 2025, targeting lower-risk opportunities near existing infrastructure [19] - Murphy's exploration strategy includes significant international projects in Vietnam and Côte d'Ivoire, with a focus on high-impact growth opportunities [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in operational improvements and the ability to deliver production guidance for Q2 2025, anticipating production of 177,000 to 185,000 barrels of oil equivalent per day [22][53] - The company is monitoring oil price volatility and is prepared to adjust capital spending if prices remain low, while maintaining a disciplined approach to capital allocation [29][30] Other Important Information - Murphy achieved 1,000,000 work hours with no lost time injuries on the Loch Da Bong field development project [5][18] - The acquisition of the Pioneer floating production storage and offloading vessel for $104 million is expected to reduce annual net operating expenses by approximately $50 million [12][13] Q&A Session Summary Question: How does the company plan to manage capital allocation in a lower oil price environment? - Management indicated that they will maintain the 2025 capital plan while monitoring the oil price environment, with potential adjustments to spending if prices fall below $55 per barrel [29][30] Question: What is the impact of the recent discovery in Vietnam on the development plan? - The recent discovery is expected to be developed with a wellhead platform tied into the existing production facility, potentially accelerating development timelines [35][102] Question: What is the status of the Khaleesi II and Marmalade III workovers? - The Khaleesi II workover is addressing a failed safety valve, while the Marmalade III involves a more complex sidetrack and new completion [40][76] Question: How does the company view its OCTG exposure and procurement strategy? - Management noted that onshore well costs are expected to remain flat year-over-year, with some pressure on tubular goods anticipated in the second half of 2025 [44][45] Question: What are the expectations for production growth in 2025? - Management expressed confidence in achieving production guidance, with significant contributions expected from onshore wells coming online in the second half of the year [52][53] Question: How does the company plan to approach exploration in Côte d'Ivoire? - The company is excited about the exploration prospects in Côte d'Ivoire, with significant resource potential and favorable fiscal terms [94]
International Seaways(INSW) - 2025 Q1 - Earnings Call Transcript
2025-05-08 14:00
Financial Data and Key Metrics Changes - Net income for Q1 2025 was $50 million or $1 per diluted share, with adjusted net income at $40 million or $0.80 per diluted share, and adjusted EBITDA at $91 million, consistent with the previous quarter [5][15][6] - Total liquidity at the end of Q1 2025 was $673 million, including nearly $550 million of undrawn revolver capacity, with gross debt of over $600 million, resulting in a net loan to value of about 15% [6][20][21] Business Line Data and Key Metrics Changes - The lightering business generated over $8 million in revenue, contributing approximately $2 million in EBITDA for the quarter [17] - The company increased time charter exposure, securing a one-year time charter on a Suezmax vessel, expected to generate $295 million in fixed revenue over the next two years [8] Market Data and Key Metrics Changes - Oil production is projected to increase by over 1 million barrels per day in 2025 and 2026, with non-sanctioned OPEC plus countries reinforcing output increases, which supports VLCC trade [9][10] - OECD inventories have drawn down by 100 million barrels since August 2024, which has muted tanker markets in the short term [11] Company Strategy and Development Direction - The company aims to maintain a balanced capital allocation strategy, returning 75% of adjusted net income to shareholders through dividends, while also executing a repurchase program of up to $50 million [8][9] - The company is focused on renewing its fleet, with an average vessel age of about 10 years, and plans to capitalize on market conditions with a strong balance sheet [25][14] Management's Comments on Operating Environment and Future Outlook - Management noted that the current geopolitical environment introduces uncertainty, but changes in tanker routing and increased demand for long-haul trades are supportive for the industry [11][12] - The company anticipates continued strong performance in the tanker market, with expectations of significant free cash flows in Q2 2025 [23][24] Other Important Information - The company has a strong financial position with cash and liquidity remaining robust at $673 million, and plans to repay debt while maintaining financial flexibility for growth [20][21] - The company has 34 unencumbered vessels and aims to keep its net debt under 15% of the fleet's current value [26] Q&A Session Summary Question: Financing for LR1s and undrawn capacity - Management is evaluating options for financing remaining installments for LR1s, with the undrawn revolver providing flexibility [29][31] Question: Impact of lease refinancing on breakeven - Refinancing the lease could reduce breakeven costs by several hundred dollars per day, with expectations of lower interest rates [32][35] Question: OPEC plus production impact on charters - Management indicated a lag in the impact of OPEC plus production increases on charter conversations, with expectations of increased listings in the next quarter [39][40] Question: Leverage targets - The company aims to maintain leverage levels broadly below 20%, with a current net loan to value below 15%, allowing for additional leverage when appropriate [41][42] Question: LR2 market outlook - Management discussed the aging profile of the LR2 fleet and the potential for older vessels to trade dirty, while modern vessels tend to trade clean [49][50] Question: Opportunities for fleet renewal - The company is actively seeking opportunities to lower the age of its fleet and remains vigilant in identifying potential acquisitions [61]
Prestige sumer Healthcare (PBH) - 2025 Q4 - Earnings Call Transcript
2025-05-08 13:30
Financial Data and Key Metrics Changes - The company reported net revenue of over $1,100 million, an increase of just over 1% compared to the prior year [6] - Adjusted EPS reached $4.52, up approximately 7% year-over-year [7][23] - Total company gross margin was 55.8% for fiscal 2025, up 30 basis points from the prior year, with Q4 gross margin improving to approximately 57% [21] Business Line Data and Key Metrics Changes - North America segment revenues increased by 30 basis points, while international segment revenues grew by 6.4% [20] - The women's health category, particularly the Summer's Eve brand, showed stabilization and growth, marking the second consecutive quarter of year-over-year sales growth [6][20] - The GI category, led by brands like Dramamine and Fleet, continued to experience strong performance [6][20] Market Data and Key Metrics Changes - The international segment experienced growth in excess of 5%, driven by strong performance in Australia, particularly with the Hydralyte brand [20] - E-commerce sales grew at a double-digit rate, now representing high teens as a percentage of total sales [20] Company Strategy and Development Direction - The company emphasized a disciplined capital allocation strategy, focusing on M&A opportunities, share repurchases, and building cash reserves [26] - A multi-year pipeline of new product development is in place to ensure continuous innovation and meet consumer needs [13][15] - The company plans to leverage its diverse and predominantly domestic supplier base to navigate tariff impacts and inflationary pressures [31] Management's Comments on Operating Environment and Future Outlook - Management acknowledged heightened market volatility and consumer uncertainty due to tariffs and inflation, but expressed confidence in the company's ability to navigate these challenges [29][30] - For fiscal 2026, the company anticipates revenues between $1,000 million and $1,055 million, with organic growth forecasted at approximately 1% to 2% [32] Other Important Information - The company generated $243 million in free cash flow for fiscal 2025, up approximately 2% from the prior year [24] - The company plans to maintain a gross margin of approximately 56.5% for both fiscal 2026 and Q1 [21] Q&A Session Summary Question: Clarification on organic sales growth guidance - Management indicated that the guidance reflects macroeconomic uncertainties and the timing of e-commerce orders, which were pulled forward [36][37] Question: Recovery expectations for Clear Eyes - Management confirmed ongoing supply chain plans to expand capacity and expects a recovery in the second half of fiscal 2026 [40][41] Question: Outlook for women's health brands - Management expressed confidence in the growth potential of Summer's Eve and Monistat, supported by successful marketing and new product launches [46][48] Question: Capital allocation strategy and M&A opportunities - Management highlighted a balanced approach to capital allocation, focusing on M&A opportunities while also considering share repurchases [52][55] Question: Impact of consumer uncertainty on innovation and marketing - Management noted that needs-based categories tend to be resilient during economic uncertainty, and they will adapt marketing strategies to align with consumer preferences [60][62] Question: Tariff impacts and cost-saving measures - Management confirmed the $15 million tariff headwind and outlined plans to implement cost-saving measures while considering surgical pricing if necessary [64][66] Question: E-commerce growth internationally - Management stated that e-commerce growth remains primarily US-centric, with less growth observed in other markets [68] Question: Opportunities for domestic suppliers - Management is exploring opportunities for domestic sourcing to mitigate tariff impacts, particularly concerning products sourced from China [74][75] Question: Innovation pipeline and margin profile - Management indicated a steady impact from new products and emphasized that all innovations must be margin-accretive [77][79]
Acacia(ACTG) - 2025 Q1 - Earnings Call Transcript
2025-05-08 13:02
Financial Data and Key Metrics Changes - Acacia recorded total revenue of $124.4 million during the first quarter, a significant increase compared to the previous year [21] - The company reported first quarter GAAP operating income of $38.3 million, compared to a GAAP operating loss of $2.1 million in the same quarter last year [24] - GAAP net income attributable to Acacia was $24.3 million or $0.25 per share, compared to a net loss of $200,000 or $0 per share in the prior year period [25] Business Line Data and Key Metrics Changes - Energy operations generated $18.3 million in revenue for the quarter, compared to $1.9 million in the same quarter last year [21] - Manufacturing operations generated $28.5 million in revenue, while industrial operations generated $7.7 million, a slight decrease from $8.8 million in the same quarter last year [22] - Intellectual property operations generated $69.9 million in licensing and other revenue, compared to $13.6 million in the same quarter last year, primarily due to a large settlement [23] Market Data and Key Metrics Changes - The company has hedged over 70% of its production through the end of 2027, providing price protection and greater cash flow predictability [11] - Approximately 51% of Benchmark's last twelve months revenue and 78% of production was driven by gas and natural gas liquids, which have remained resilient despite recent market volatility [11] Company Strategy and Development Direction - Acacia's strategy focuses on acquiring and building businesses with stable long-term cash flow generation and scalability [6] - The company is actively exploring strategic acquisitions and organic growth initiatives across its verticals, particularly in energy and industrial sectors [28] - Management is evaluating opportunities in the mature technology sector, aiming to enhance the value of its intellectual property portfolio [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Acacia's resilience amid macroeconomic uncertainties and believes the current environment presents compelling opportunities [28] - The company is optimistic about the long-term growth potential of its Deflecto business and is implementing initiatives to optimize operations [15] - Management highlighted the importance of disciplined cost management and operational excellence in navigating volatile market conditions [16] Other Important Information - Total consolidated G&A expense was $17.3 million during the first quarter, an increase from $12.5 million in the same quarter last year, primarily due to the addition of Deflecto [23] - Cash, cash equivalents, and equity securities at fair value totaled $290 million as of March 31, 2025, compared to $297 million at December 31, 2024 [26] Q&A Session Summary Question: Can you detail the total winnings from the WiFi portfolio? - Management indicated that since Q1 2023, approximately $178 million has been generated from the WiFi assets, with more value expected in the portfolio [33] Question: Are you seeing prices coming down in M&A? - Management confirmed they are looking at opportunities in energy, industrials, and mature technology, with a focus on assets that can be improved through operational efficiencies [35][36] Question: What is the calculus on protecting tax attributes versus share buybacks? - Management completed a $20 million buyback and is monitoring tax attributes to determine the optimal time for further buybacks [41] Question: Will the recent settlement pressure the defendant in the $37 million judgment case to settle sooner? - Management expressed hope that the recent settlement would encourage a quicker resolution, but could not provide a definitive answer [50]
Acacia(ACTG) - 2025 Q1 - Earnings Call Transcript
2025-05-08 13:00
Financial Data and Key Metrics Changes - Acacia recorded total revenue of $124.4 million during the first quarter, a significant increase compared to the same quarter last year [21] - The company reported first quarter GAAP operating income of $38.3 million, compared to a GAAP operating loss of $2.1 million in the same quarter last year [23] - GAAP net income attributable to Acacia was $24.3 million or $0.25 per share, compared to a net loss of $0.2 million or $0 per share in the prior year period [24] - Adjusted net income attributable to Acacia was $33.1 million or $0.34 per share [24] - Cash, cash equivalents, and equity securities at fair value totaled $290 million as of March 31, 2025, compared to $297 million at December 31, 2024 [25] Business Line Data and Key Metrics Changes - Energy operations generated $18.3 million in revenue for the quarter, compared to $1.9 million in the same quarter of last year [21] - Manufacturing operations generated $28.5 million in revenue [21] - Industrial operations generated $7.7 million in revenue during the quarter, a slight decrease from $8.8 million in the same quarter last year [21] - Intellectual property operations generated $69.9 million in licensing and other revenue during the quarter, compared to $13.6 million in the same quarter last year [22] Market Data and Key Metrics Changes - Benchmark's energy segment has hedged over 70% of its production through the end of 2027, providing price protection and cash flow predictability [11] - Approximately 51% of Benchmark's last twelve months (LTM) revenue and 78% of LTM production was driven by gas and natural gas liquids, which have remained resilient [11] Company Strategy and Development Direction - The company focuses on acquiring and building businesses with stable long-term cash flow generation and scalability [6] - Acacia is actively evaluating strategic acquisitions and organic growth initiatives across its verticals [27] - The company is exploring avenues to monetize its Cherokee position and is monitoring attractive M&A targets due to recent oil price softness [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Acacia's resilience amid macroeconomic uncertainties and believes the current environment presents compelling opportunities [27] - The company is focused on disciplined cost management and operational excellence to navigate volatile periods [16] - Management highlighted the strong performance driven by realized gains from the intellectual property business and the integration of Revolution assets [7][14] Other Important Information - Total consolidated G&A expense was $17.3 million during the first quarter, an increase from $12.5 million in the same quarter last year, primarily due to the addition of Deflecto [22] - The company has zero capital commitments from a drilling perspective, allowing it to remain cash flow positive even in challenging price environments [11] Q&A Session Summary Question: Can you detail the total winnings from the WiFi portfolio? - Management indicated that since Q1 2023, approximately $178 million has been generated from the WiFi assets, with ongoing cases potentially adding more value [31] Question: Are you seeing prices coming down in M&A? - Management noted they are looking at three verticals: energy, industrials, and mature technology, with ongoing evaluations of acquisition opportunities [33][34] Question: What is the calculus on protecting tax attributes versus share buybacks? - Management confirmed they completed a $20 million buyback while monitoring tax attributes to determine the optimal time for further buybacks [40] Question: Does the recent settlement put pressure on the defendant in the $37 million judgment case? - Management expressed uncertainty but hoped that the recent settlement would encourage a quicker resolution [49]
ConocoPhillips(COP) - 2025 Q1 - Earnings Call Presentation
2025-05-08 12:31
Financial Performance - ConocoPhillips reported adjusted earnings of $2.7 billion, or $2.09 adjusted EPS for 1Q25[6, 10] - The company generated $5.5 billion in CFO and $2.1 billion in FCF, with an ending cash balance of $7.5 billion[6] - $2.5 billion was distributed to shareholders through $1.5 billion in share repurchases and $1.0 billion in ordinary dividends[6] Operational Highlights - Total company production was 2,389 MBOED, with Lower 48 production at 1,462 MBOED[8] - Completed $1.3 billion in noncore Lower 48 asset sales[6] Segment Performance - Lower 48 adjusted earnings were $1.697 billion in 1Q25[12] - Alaska adjusted earnings were $269 million in 1Q25[12] - Canada adjusted earnings were $256 million in 1Q25[12] Guidance - Full-year production guidance remains unchanged at 2.34 – 2.38 MMBOED[6, 24] - Full-year adjusted operating costs are guided to be $10.7B - $10.9B[24] - Full-year capital expenditures are expected to be $12.3B - $12.6B[24]
Murphy Oil(MUR) - 2025 Q1 - Earnings Call Presentation
2025-05-08 11:43
2025 FIRST QUARTER EARNINGS CONFERENCE CALL AND WEBCAST MAY 8, 2025 ERIC M. HAMBLY PRESIDENT AND CHIEF EXECUTIVE OFFICER 1 www.murphyoilcorp.com NYSE: MUR Cautionary Statement Cautionary Note to US Investors – The United States Securities and Exchange Commission (SEC) requires oil and natural gas companies, in their filings with the SEC, to disclose proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing econ ...