APA (APA) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Speaker0 thank you for standing by. Welcome to the APA Corporation's First Quarter twenty twenty five Results 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 now like to hand the conference over to your first speaker today, Ben Rogers, Senior Vice President of Finance and Treasur ...

Coeur Mining (CDE) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Speaker0 Good day, and welcome to the Core Mining First Quarter twenty twenty five Financial Results Conference Call. All participants will be in a listen only mode. After today's presentation, there will be an opportunity to ask questions. Please note this conference is being recorded. I would now like to turn the conference over to Mr. Kraft, President and CEO. Please go ahead. Speaker1 Good morning, everyone, and thanks for joining our cal ...

Financial Data and Key Metrics Changes - For Q1 2025, consolidated revenues reached $196 million, with an adjusted EBITDA of $169 million, resulting in an adjusted EBITDA margin of 86.4% [14] - Free cash flow was reported at $127 million, reflecting an 11% year-over-year increase [14] - Oil and gas royalty production averaged approximately 31,100 barrels of oil equivalent per day, marking a 25% increase year-over-year [5][14] Business Line Data and Key Metrics Changes - Oil and gas royalty production saw a 7% growth quarter-over-quarter and a 25% growth year-over-year, driven by strong development in specific subregions [5] - Water segment revenues totaled $69 million, representing a 3% sequential growth and an 11% year-over-year growth [5] Market Data and Key Metrics Changes - The company noted that while oil prices have weakened, there has not yet been a widespread downturn in activity, although some operators have announced plans to reduce rigs [6] - The company expects that if oil prices remain below $60 for an extended period, more significant activity declines may occur in the latter half of the year [6] Company Strategy and Development Direction - The company aims to maximize shareholder value and is positioned to take advantage of opportunities that may arise, including acquiring high-quality royalties and ramping up buybacks [13] - TPL's royalty acreage is primarily operated by supermajors and large independents, which tend to exhibit more inertia in their development plans compared to mid-cap independents [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in TPL's ability to withstand potential downturns in oil prices due to its strong financial position and high-margin cash flow streams [12] - The company anticipates that renewal payments from easements will significantly increase, with estimates exceeding $200 million over the next decade [11] Other Important Information - TPL maintains a net cash position with zero debt and $460 million in cash and cash equivalents as of March 31 [12] - The company is advancing its desalination and beneficial reuse initiatives, with a new desalination unit expected to come online by the end of the year [17] Q&A Session Summary Question: Thoughts on macro oil and gas activity and impacts on business segments - Management noted that there is significant demand for water handling in the Delaware Basin, with expectations for produced water volumes to grow rapidly over the next decade [23][24] Question: Impact of pipeline projects on TPL - Management indicated that new pipeline projects would benefit the basin and TPL's mineral development, with compensation expected from barrels moved through these projects [25] Question: Perspective on the M&A landscape in the basin - Management stated that there are still opportunities in the M&A front, with no significant pullback from sellers observed, although a decrease in commodity prices could widen the bid-ask spread [29]

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]

Western Midstream Partners (WES) Q1 2025 Earnings Call May 08, 2025 10:00 AM ET Speaker0 Good morning. My name is Ludi, and I will be your conference operator today. At this time, I would like to welcome everyone to the Western Midstream Partners 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 session. Thank you. I would now like to turn the conference over to Danie ...

Core Molding (CMT) Q1 2025 Earnings Call May 08, 2025 10:00 AM ET Speaker0 Good morning, everyone. Welcome to the Core Molding Technologies First Quarter twenty twenty five Financial Results Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. I will turn the call over to Sandy Martin, three part advisers. Please go ahead. Speaker1 Thank you, and good morning, everyone. ...

Spectrum Brands (SPB) Q2 2025 Earnings Call May 08, 2025 09:00 AM ET Company Participants Joanne Chomiak - Director of Investor RelationsDavid Maura - Executive Chairman & CEOJeremy Smeltser - Executive VP & CFOPeter Lukas - DirectorOlivia Tong - Managing Director Conference Call Participants Peter Grom - Equity Research Analyst Operator Good day, and thank you for standing by. Welcome to the Q2 twenty twenty five Spectrum Brands Holding Earnings Conference Call. At this time, all participants are in a list ...

Tile Shop (TTSH) Q1 2025 Earnings Call May 08, 2025 09:00 AM ET Company Participants Ken Cooper - Investor RelationsCabby Lolmaugh - CEO & PresidentMark Davis - SVP & CFO Operator Good morning, and welcome to the Quarter One twenty twenty five Tile Shop Holdings Incorporated Earnings Conference Call. This is Franz, and I'll be the operator assisting you today. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. If you ...

Spectrum Brands (SPB) Q2 2025 Earnings Call May 08, 2025 09:00 AM ET Speaker0 Good day, and thank you for standing by. Welcome to the Q2 twenty twenty five Spectrum Brands Holding 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. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising that your hand is raised. To withdraw ...

Civitas Resources (CIVI) Q1 2025 Earnings Call May 08, 2025 08:30 AM ET Company Participants Brad Whitmarsh - Vice President, Investor RelationsChris Doyle - CEOGabe Daoud - Managing Director, Energy Equity ResearchZach Parham - Executive DirectorScott Hanold - Managing Director - Energy ResearchOliver Huang - DirectorMarianella Foschi - Chief Financial Officer & TreasurerLeo Mariani - MD & Equity Research Operator Good day, and thank you for standing by. Welcome to the Civitas Resources First Quarter twent ...