First Quarter 2025 Earnings Presentation The Chefs' Warehouse, Inc. 1 Safe Harbor Statement Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this presentation regarding the business of The Chefs' Warehouse, Inc. (the "Company") that are not historical facts are "forward-looking statements" that involve risks and uncertainties and are based on current expectations and management estimates; actual results may differ materially. The risks and uncertainties which c ...

First Quarter 2025 Earnings Call April 30, 2025 Forward-Looking Statements Certain statements contained in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This presentation may contain "forward-looking statements" with respect to our business, results of operations and financial condition, and our expectations or beliefs concerning future events and conditions. You can identify forward-looking statements because they con ...

Core Insights - The Timken Company reported first-quarter 2025 net sales of $1.14 billion, a decrease of 4.2% compared to the same period last year, attributed to lower end-market demand and unfavorable foreign currency translation, partially offset by acquisitions [1][13] - Net income for the quarter was $78.3 million, or $1.11 per diluted share, down from $103.5 million, or $1.46 per diluted share, in the prior year [2][26] - The company has adjusted its full-year 2025 outlook, forecasting diluted earnings per share in the range of $3.90 to $4.40 and adjusted earnings per share between $5.10 and $5.60, reflecting the impact of tariffs and expected lower demand [9][51] Financial Performance - First-quarter adjusted EBITDA was $208.1 million, representing 18.2% of sales, down from $246.4 million or 20.7% of sales in the same quarter last year [3][6] - The net income margin for the quarter was 6.9%, a decline from 8.7% in the previous year [2][19] - Free cash flow increased to $23.4 million from $5.2 million in the prior year, with net cash provided by operations rising to $58.6 million [4][41] Segment Performance - Engineered Bearings segment sales were $760.7 million, down 5.2% year-over-year, primarily due to lower demand in various sectors [5][19] - Industrial Motion segment sales decreased by 2.1% to $379.6 million, with higher revenue in some platforms offset by lower demand in others [7][19] - Adjusted EBITDA for the Engineered Bearings segment was $159.2 million, or 20.9% of sales, compared to $181.4 million or 22.6% of sales in the prior year [6][19] Outlook and Strategic Initiatives - The company is implementing cost reduction measures expected to generate gross savings of approximately $75 million in 2025 [10][11] - Timken anticipates a net direct impact from tariffs of about $25 million in 2025, with plans to mitigate these costs by year-end [9][10] - The management remains focused on navigating the unpredictable business environment and is actively pursuing pricing and cost-saving strategies [11][30]

Core Viewpoint - Constellium SE reported solid financial results for Q1 2025 despite ongoing demand weakness in most end markets, with a focus on cost reduction and operational performance [2][3][4] Financial Performance - Q1 2025 shipments totaled 372 thousand metric tons, a decrease of 2% compared to Q1 2024 [4][43] - Revenue for Q1 2025 was $1.979 billion, representing a 5% increase from $1.880 billion in Q1 2024 [3][6] - Net income increased to $38 million in Q1 2025 from $22 million in Q1 2024 [3][14] - Adjusted EBITDA rose to $186 million in Q1 2025, up from $146 million in Q1 2024 [3][6] Segment Performance - Aerospace & Transportation (A&T) segment reported Adjusted EBITDA of $75 million, down 14% from $87 million in Q1 2024, with shipments decreasing by 11% [7] - Packaging & Automotive Rolled Products (P&ARP) segment saw Adjusted EBITDA increase by 25% to $60 million, with shipments up 2% [8] - Automotive Structures & Industry (AS&I) segment's Adjusted EBITDA fell 50% to $16 million, with shipments down 12% [9] Cash Flow and Capital Management - Cash from operations was $58 million, while Free Cash Flow was negative at $(3) million [15][16] - The company repurchased 1.4 million shares for $15 million during the quarter [5][17] - Leverage ratio stood at 3.3x as of March 31, 2025 [5] Outlook - The company maintains its guidance for 2025, expecting Adjusted EBITDA between $600 million and $630 million, and Free Cash Flow exceeding $120 million [2][20] - Long-term targets include Adjusted EBITDA of $900 million and Free Cash Flow of $300 million by 2028 [20]

Enterprise Products Partners (EPD -1.67%) has been one of the most consistent growers in the energy midstream sector. The master limited partnership (MLP) has increased its cash distribution (which yields 6.8%) for 26 straight years. That's due to the durability of its cash flow and its investments to expand its extensive midstream system.While the MLP tends to grow relatively steadily, this year will be a bit of an outlier. It has $6 billion of growth capital projects on track to enter service through the ...

April 2025 IMPORTANT DISCLOSURES Forward-Looking Statements: Certain statements contained in this press release constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this press release, regarding our strategy, future operations, financial position, estimated revenue and losses, projected costs, prospects, plans ...

Q1 2025 Earnings Presentation 1) Free Cash Flow, Adjusted EBITDA, Recycle Ratio and ROCE are non-GAAP financial measures. See Appendix for methodology and reconciliations. Net debt is total debt less cash and acquisition deposits. Q1 2025 Earnings Presentation | 3 April 29, 2025 Q1 2025 Earnings Presentation | 1 Contents Q1 2025 Earnings Presentation | 2 I. Q1 2025 Highlights II. Operations & Investment Activity Updates III. Guidance IV. Value Proposition V. Appendix Q1 2025 Financial & Operating Highlights ...

1Q 2025 Earnings APRIL 29, 2025 All forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement. 2 1Q 2025 Earnings Forward-Looking Statements reduced demand for natural gas, oil, and natural gas liquids ("NGLs"); negative public perception of our industry; competition in the natural gas and oil exploration and production industry; the volatility of natural gas, oil and NGL prices, which are affected by general economic and business conditions, as wel ...

Core Viewpoint - Bill Ackman, a prominent investor, focuses on concentrated investments in high-quality businesses, with his hedge fund, Pershing Square Capital Management, having a strong track record over the past two decades [1] Company Overview - As of December 31, Pershing Square held 11 positions, with one company representing 12% of the fund, making it the third-largest holding despite Ackman selling shares over several quarters [2] - Chipotle Mexican Grill (CMG) has shown significant stock performance, with shares increasing by 183% over the past five years, although they have declined by 17% in 2025 [2][8] Financial Performance - Chipotle has consistently generated positive free cash flow (FCF), reporting a cumulative FCF of $3.6 billion from 2021 to 2024, which has been partly used for share buybacks [3] - The company maintains a strong balance sheet, with more current assets than liabilities and no debt, allowing it to earn interest income rather than incur interest expenses [4] Competitive Position - Ackman values high barriers to entry in the restaurant industry, noting that while competition is fierce, replicating Chipotle's success is extremely challenging [5] Investment Strategy - Ackman sold approximately 17 million shares of Chipotle in 2024, likely due to high valuation rather than company quality, as the stock traded at an average forward P/E ratio of 51.2 [6][7] - Despite the sales, Pershing Square retained a significant position in Chipotle, indicating continued bullish sentiment, especially with the stock down 27% from its all-time high [8] Market Conditions - Chipotle experienced a 0.4% decline in same-store sales in Q1, attributed to weaker consumer spending, though the leadership remains optimistic about the company's long-term potential [9] - The stock is currently trading at a more reasonable forward P/E ratio of 41.3, suggesting a potential opportunity for investors to consider dollar-cost averaging into Chipotle shares [10]

Benchmark Electronics Financial Results April 29, 2025 Forward-Looking 2025 Statements This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts and may include words such as "anticipate," "believe," "intend," "plan," "project," "forecast," "strategy ...