Core Points - The Ordinary and Extraordinary Shareholders' General Meeting of Eramet is scheduled for May 26, 2025, at 10:00 a.m. Paris time at the company's head office [1] - The prior Notice of Meeting, including the agenda and draft resolutions, was published on April 18, 2025, and the Convening Notice will be published on May 07, 2025 [2] - Shareholders can request preparatory documents for the Meeting and consult them at Eramet's head office or on the company's website [3] - The Meeting will be broadcast live via a webcast, which will also be available for replay [4] - Key upcoming dates include the release of the 2025 half-year results on July 30, 2025, and the third-quarter sales on October 30, 2025 [4] Company Overview - Eramet focuses on transforming Earth's mineral resources to provide sustainable solutions for industrial growth and energy transition challenges [4][5] - The company is involved in the recovery and development of essential metals such as manganese, nickel, mineral sands, and lithium [5] - Eramet aims to be a reference for the responsible transformation of mineral resources, contributing to robust infrastructures and efficient mobility solutions [6]

Industry Overview - The Zacks Oil and Gas Integrated International industry includes companies involved in upstream, midstream, and downstream operations across various global regions [3] - Integrated energy companies are increasingly focusing on renewable energy to transition towards lower emissions and reduced carbon intensity [3] Current Challenges - Trade tensions are creating uncertainty in the business environment, potentially leading to economic slowdowns [1][4] - A slowdown in oil production growth is negatively impacting upstream revenues, as companies prioritize returning capital to shareholders over production expansion [5] - Growing demand for renewable energy is expected to decrease reliance on fossil fuels, adversely affecting integrated energy firms that primarily produce and transport oil and gas [6] Industry Performance - The Zacks Oil and Gas Integrated International industry ranks 183, placing it in the bottom 26% of over 250 Zacks industries, indicating bearish near-term prospects [7][8] - Over the past year, the industry has underperformed compared to the broader Zacks Oil - Energy sector and the S&P 500, with a decline of 11.2% versus the S&P 500's gain of 11.5% [9][10] Valuation Metrics - The industry is currently trading at a trailing 12-month EV/EBITDA ratio of 3.97X, significantly lower than the S&P 500's 15.32X and the sector's 4.38X [13] - Historical trading ranges for the industry have been between 2.74X and 6.54X over the past five years, with a median of 4.11X [14] Key Companies - BP has initiated production from three key projects, aiming to increase its production capacity by 100 MBbl/D, with a long-term goal of 250 MBbl/D by 2027 [18] - ExxonMobil's acquisition of Pioneer Natural Resources enhances its production capabilities in the Permian Basin, known for low production costs [22] - Chevron is a major producer in the Permian Basin, maintaining a conservative capital spending approach that supports strong cash flow generation [24]

Julie Janson, EVP and CEO, Duke Energy Carolinas, to retire after a distinguished 37-year career with the company Kodwo Ghartey-Tagoe, Alex Glenn and Louis Renjel to be appointed to new leadership positions, reflecting the depth of Duke Energy's leadership team Cameron McDonald to join the company's senior management committeeCHARLOTTE, N.C., May 2, 2025 /PRNewswire/ -- Duke Energy (NYSE: DUK) today announced a series of leadership appointments to further advance the company's strategy and ensure it is bes ...

Financial Performance - The company reported net sales of $1.1 billion for Q1 2025, reflecting an increase in specialties volumes and record lithium production, despite lower lithium market pricing year over year [4][9]. - Adjusted EBITDA was $267 million, down 8% year over year, primarily due to lower lithium pricing, although cost and productivity improvements partially mitigated this decline [10][12]. - The operating cash conversion rate exceeded 200%, with $545 million generated from operations, indicating strong cash flow management [4][23]. Business Line Performance - Specialties drove volume benefits, with adjusted EBITDA increasing by 30% year over year, while energy storage volumes remained flat due to optimized lithium conversion [10][11]. - The energy storage segment achieved a strong EBITDA margin of 36% in Q1, but margins are expected to decline in Q2 due to a lower proportion of long-term contract sales [17][65]. - The Ketchen segment is expected to see modest improvements in 2025, driven by product mix and cost improvements [18]. Market Data - Global lithium demand is anticipated to grow between 15% to 40% in 2025, influenced by tariff impacts and macroeconomic trends [6][27]. - The company expects lithium demand to more than double from 2024 to 2030, driven by the energy transition and increasing demand for electric vehicles and grid storage [27][30]. - China represents approximately 60% of overall market demand for electric vehicles, with strong growth observed in both China and Europe [25][26]. Company Strategy and Industry Competition - The company is focused on optimizing its conversion network, improving cost and productivity, and enhancing financial flexibility to maintain competitiveness [5][20]. - Long-term lithium pricing must remain well above current levels to incentivize supply growth, as many producers are currently operating at or below breakeven [30][31]. - The company is maintaining its full-year 2025 outlook despite anticipated tariff impacts, leveraging its global footprint and exemptions for critical minerals [12][15]. Management Commentary - Management expressed confidence in the company's ability to navigate the uncertain market environment and maintain its competitive position through operational and financial priorities [31]. - The management highlighted the importance of long-term contracts for securing supply and mitigating risks, especially in the evolving landscape of electric vehicle adoption [49][50]. - The company remains cautious about making significant investments until pricing stabilizes at incentive levels, prioritizing balance sheet strength [94]. Other Important Information - The company ended Q1 with available liquidity of $3.1 billion, enhancing its financial flexibility [22]. - The adjusted diluted earnings per share was a loss of $0.18, reflecting the impact of lower lithium pricing and other nonrecurring factors [10]. - The company is on track to reduce capital expenditures by more than 50% year over year, focusing on cost control and cash flow generation [20][24]. Q&A Session Summary Question: Can you elaborate on the scenarios that may affect demand within the 15% to 40% range for 2025? - Management indicated that the current uncertain environment justifies the wide range, with a best estimate in the mid-20% range based on year-to-date performance [33][34]. Question: What progress has been made on productivity initiatives, and is there potential for exceeding the $400 million target? - Management confirmed they are on track to reach the high end of the productivity target, emphasizing that productivity improvements are an ongoing focus [36][37]. Question: How do you view the ability of US and European EV makers to replicate recent Chinese advancements in battery technology? - Management noted that the industry is still early in the technology curve, with ongoing advancements expected from global players [39]. Question: How does the company plan to manage cash flow and return on investment over the next three to five years? - Management aims for a cash conversion benchmark of 60% to 70% and is focused on reducing leverage to below 2.5 times [42][46]. Question: How does the contracting strategy evolve with the rise of autonomous vehicles? - Management stated that while the contracting strategy will evolve, the focus on long-term security of supply remains unchanged [50]. Question: How much of the strong demand year-to-date is attributed to tariff pre-buying? - Management clarified that the strong demand was more related to regulatory shifts in Europe rather than tariff pre-buying [52][53]. Question: What is the outlook for supply curtailments in the industry? - Management acknowledged that high-cost assets are likely to exit the market, but the timing and extent of curtailments are uncertain [101].

Q1 2025 Financial Performance - Net sales were $1.1 billion, a decrease of 21% compared to Q1 2024's $1.361 billion[13, 15] - Adjusted EBITDA was $267 million, down 8.3% year-over-year from $291 million in Q1 2024[13, 15] - Specialties and Ketjen segments saw year-over-year Adjusted EBITDA gains of 30% and 76%, respectively[13, 18] - Cash from operations reached $545 million, representing a 204% operating cash flow conversion, or 73% excluding a customer prepayment[13] - The company has line of sight to breakeven free cash flow in 2025[13] 2025 Outlook and Strategy - The company maintains its FY 2025 outlook, with ranges based on lithium market price scenarios[11] - Albemarle achieved approximately 90% run-rate against the midpoint of its $350 million cost and productivity improvement target through April and identified opportunities to reach the high-end of the $300 million to $400 million range[11] - The estimated FY 2025 capital expenditure is $700 million to $800 million, a decrease of over 50% year-over-year[30] Lithium Market Dynamics - Long-term lithium demand is expected to grow approximately 2x between 2024 and 2030, driven by electric vehicles and grid storage[14] - The company anticipates a direct tariff impact of approximately $30 million to $40 million in 2025, before mitigations[21] - Expected lithium demand growth is greater than 2x from 1.2 MMT LCE in 2024 to a range of 2.5 to 3.3 MMT LCE in 2030[43, 44]

Financial Data and Key Metrics Changes - In 2024, Wells Fargo generated $19.7 billion in net income, with diluted earnings per share at $5.37 and a return on tangible common equity of 13.4% [62] - The company reported an 11% increase in diluted earnings per share, driven by a 15% growth in fee-based revenue, lower expenses, and improved credit performance [64] - Net interest income declined by 9%, while non-interest income increased by 15%, reflecting a strategic focus on fee-based revenue [64] Business Line Data and Key Metrics Changes - Deposit-related fees increased by 7%, investment advisory and asset-based fees rose by 13%, investment banking fees surged by 62%, and trading revenues grew by 10% [64] - Average loans outstanding decreased by 3%, with credit card balances growing while other asset classes declined due to weaker loan demand [66] - Average deposits remained stable year-over-year, with growth in the commercial business offsetting declines in consumer businesses [66] Market Data and Key Metrics Changes - The company maintained a strong balance sheet, returning $25 billion of capital to shareholders, including an increase in the quarterly common stock dividend from $0.35 to $0.40 per share [67] - The average common shares outstanding decreased by 21% since Q4 2019, indicating effective capital management [67] Company Strategy and Development Direction - Wells Fargo has focused on building a robust risk and control framework appropriate for its size and complexity, with significant progress noted in closing consent orders from regulators [68][69] - The company has simplified its business by exiting several non-core areas, allowing for reinvestment in core client services and improving its earnings profile [72] - In consumer lending, the company has reduced its home lending franchise size while increasing investments in credit cards, with 2.4 million new credit card accounts opened in 2024 [74] Management's Comments on Operating Environment and Future Outlook - The management expressed optimism about the company's transformation and progress, highlighting a strong position to navigate economic uncertainties in 2025 [84] - The company is prepared for a slower economic environment but believes it can leverage its strengths to maintain stability and growth [84] Other Important Information - The board of directors emphasized the importance of aligning executive compensation with shareholder interests and maintaining a diverse mix of experiences among board members [90][91] - The company has made significant investments in its Corporate and Investment Bank (CIB), enhancing its capabilities and market share in various sectors [75][79] Q&A Session Summary Question: How is Wells Fargo ensuring that its financing practices respect indigenous peoples' rights? - The company has adopted an indigenous peoples statement and has established risk management policies to respect indigenous rights while serving tribal communities [55][56] Question: Why do we give shares to executives and directors? - The executive compensation program aligns with shareholder interests and is guided by principles of performance, risk management, and talent retention [89] Question: What actions are being taken to increase share value and client satisfaction? - The company is focused on long-term sustainable earnings and enhancing client satisfaction through improved services and capabilities [94]

Core Viewpoint - Solutions30 reported a consolidated revenue of €232.4 million for Q1 2025, reflecting a year-on-year decline of -12.3% due to a high comparison basis from Q1 2024, which had recorded strong growth [1][3]. Revenue Breakdown - The revenue from Connectivity activities was €164.2 million, down -20.0%, primarily due to increased selectivity in mature markets like France and Spain [5]. - Energy activities generated €41.3 million, up +19.1%, driven by favorable market trends, especially in photovoltaic systems in France [5]. - Technology activities saw revenue of €26.9 million, an increase of +7.3%, attributed to higher volumes of IT support services [5]. Regional Performance - **Benelux**: Revenue was €88.7 million, down -12.0%, with an organic contraction of -12.5% [6]. Connectivity revenue was €67.9 million, down -14% [6]. - **France**: Revenue amounted to €76.3 million, down -22% on an organic basis, with Connectivity revenue falling -43% to €36.8 million [10]. Energy activities grew +30% to €22.8 million, now representing 30% of total revenue [11]. - **Germany**: Revenue reached €21.9 million, up +20.7% on an organic basis, with Connectivity growth of +22% driven by fiber deployment [13]. - **Other Countries**: Revenue was €45.5 million, down -5.8%, with Poland and Italy showing growth of +11.4% and +14.6%, respectively [16][17]. Spain's revenue fell -37.2% due to restructuring efforts [18]. Strategic Focus - The company is committed to a strategy prioritizing margins and cash generation over revenue growth, particularly in France where the fiber deployment market is maturing [1][7]. - Solutions30 is focusing on energy services, which now account for 30% of total revenue, and is implementing performance improvement measures in various regions [1][7][16]. Market Outlook - The investment plan announced by the German government is expected to enhance long-term growth potential in the market, which is crucial for Solutions30's business portfolio [15]. - The company remains confident in its multi-technical and multi-local model, with strong growth drivers in energy and technology sectors [1][7].

RONKONKOMA, N.Y., April 29, 2025 (GLOBE NEWSWIRE) -- SUNation Energy, Inc. (Nasdaq: SUNE) ("SUNation" or "the Company"), a leading provider of sustainable solar energy and backup power solutions for households, businesses, and municipalities, announced that it has entered into a new $1.0 million line of credit agreement with MBB Energy, LLC ("MBB"). As previously disclosed in our SEC filings, MBB Energy, LLC is an affiliate and related party of the Company by virtue of MBB being an entity controlled by Scot ...

Core Insights - The market for remote management solutions in heating networks and Building Management Systems (BMS) is experiencing strong growth due to energy transition, urbanization, decarbonization, and rising energy costs [2][4][8] - LACROIX is well-positioned to capitalize on this growth with its IIoT solutions and has seen significant sales acceleration in its HVAC segment, which recorded a CAGR of 10% from 2021 to 2024 [4][6] - The BACS decree mandates the automation of commercial buildings starting January 1, 2025, but only 15% of buildings were equipped by 2024, indicating a significant market opportunity [3] Industry Overview - The number of district heating networks in France has doubled over the past decade, exceeding 1,000 networks in 2023, with over 50,000 substations [2] - The HVAC segment is a critical part of LACROIX's Environment activity, which integrates technological synergies to enhance service offerings [5][8] Company Positioning - LACROIX's end-to-end solutions and recognized service model make it a trusted partner for major operators like ENGIE Solutions and DALKIA [6] - The company aims for international development as a strategic pillar of its 2027 roadmap, leveraging its subsidiaries in Italy and Spain [7][8] - LACROIX's revenue reached €636 million in 2024, and it is ranked among the top 50 worldwide and top 10 European EMS [10]

Core Viewpoint - Eni S.p.A reported first-quarter 2025 adjusted earnings of 92 cents per American Depository Receipt, surpassing the Zacks Consensus Estimate of 91 cents, but down from $1.04 in the same quarter last year. Total revenues of $24.2 billion exceeded the estimate of $22.3 billion but declined from $25.2 billion year-over-year. The results were positively influenced by higher natural gas prices but negatively impacted by decreased hydrocarbon production and lower refining and biofuels margins [1]. Operational Performance - Eni operates through four business segments: Exploration & Production, Global Gas & LNG Portfolio and Power, Refining and Chemicals, and Enilive and Plenitude [2]. Exploration & Production - Total oil and gas production was 1,647 thousand barrels of oil equivalent per day (MBoe/d), a 5% decrease from 1,741 MBoe/d in the prior-year quarter. Liquids production was 786 thousand barrels per day (MBbl/d), down 1% from 797 MBbl/d a year ago. Natural gas production was 4,502 million cubic feet per day (mmcf/d), compared to 4,937 mmcf/d in the previous year [3]. - The average realized price of liquids was $69.72 per barrel, down 6% from $74.53 a year ago. The realized natural gas price was $7.57 per thousand cubic feet, up 8% from $7.04 in the year-ago period [4]. - The Exploration & Production segment reported a pro-forma adjusted EBIT of €3.3 billion, down 2% from €3.4 billion in the first quarter of 2024, affected by lower hydrocarbon production due to asset divestitures finalized in 2024 [5]. Global Gas & LNG Portfolio and Power - Worldwide natural gas sales totaled 12.12 billion cubic meters (bcm), down 22% year-over-year, with lower wholesale gas volumes sold in Italy and declines in the European market, particularly in Turkey. This segment reported a pro-forma adjusted EBIT of €473 million, reflecting a 34% increase from €353 million in the prior year [6]. Refining and Chemicals - Total refinery throughputs were 5.86 million tons (mmtons), down from 6.38 mmtons in the corresponding period of 2024. Petrochemical product sales decreased 7% year-over-year to 0.80 mmtons [7]. - The segment reported a pro-forma adjusted negative EBIT of €334 million, compared to a negative €53 million in the year-ago quarter, impacted by lower throughput volumes and refining margins globally [8]. Enilive & Plenitude - Retail gas sales managed by Plenitude declined 7% year-over-year to 2.39 bcm. The segment reported a pro-forma adjusted EBIT of €336 million, down from €426 million a year ago, attributed to lower margins in the biofuels business [9][10]. Financials - As of March 31, Eni had a long-term debt of €20.1 billion and cash and cash equivalents of €9.1 billion. For the quarter, net cash generated by operating activities was €2.4 billion, with capital expenditures totaling €1.8 billion [11]. Outlook - Eni has lowered its 2025 capital spending guidance to below €8.5 billion from approximately €9 billion due to recent trade tariff events. Oil and gas production for 2025 is expected to be around 1.7 million barrels of oil equivalent per day [12].