MSC Industrial Direct (MSM) FY Conference May 20, 2025 02:40 PM ET Speaker0 You all set? Great. Well, thanks for joining us here today, everyone. We're joined by Eric Gershwin, CEO of MSC Industrial and Ryan Mills, Head of Investor Relations. So for anyone that's unfamiliar with MSM, Eric runs the largest distribution business in North American metalworking markets with about 95% of sales here in The U. S. They offer a broad array of cutting tools and metalworking products, It's about 45% of sales and the r ...

COLUMBUS, Ohio, May 20, 2025 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has named Douglas A. Cannon president of AEP Transmission, effective June 11. Cannon will report to Bill Fehrman, AEP president and chief executive officer.In this role, he will lead all aspects of AEP's transmission business, including planning, projects, engineering, operations and growth. Cannon currently serves as the president and chief executive officer of NV Energy and is responsible for all aspects of service to its 1 ...

Core Insights - The company reported quarterly sales of $16.94 million, with $4.4 million from C2B fabric sales, and announced a major manufacturing expansion with a capital budget of $35 million [2][6][8] - Cash and cash equivalents at quarter-end were $68.8 million, expected to reduce to $21.5 million after planned expenditures [2][8] - Significant new business opportunities in composite materials and defense programs are driving the expansion initiative [2][8] Financial Performance - Quarterly sales reached $16.94 million, including $4.4 million from C2B fabric and $420,000 from C2B material-based laminates [5][6] - Gross margin was reported at 29.3%, positively influenced by strong production performance despite low-markup C2B fabric [6][15] - Adjusted EBITDA was within the forecast range of $3.3 million to $3.9 million [6][10] Manufacturing and Expansion - A planned capital investment of $35 million is aimed at expanding manufacturing capacity to meet long-term demand in aerospace and defense [2][8] - The company has entered into an agreement to advance 4.59 million euros to ArianeGroup for manufacturing capacity expansion, with the first installment of $1.5 million already paid [2][7][59] - Production exceeded sales by $1.4 million, contributing an estimated $350,000 to the bottom line [7][22] Market and Product Developments - The company is engaged in discussions with two Asian conglomerates for a potential joint venture in aerospace pre-preg production, contributing only intellectual property [3][68] - A newly certified lightning strike protection material is expected to generate approximately $500,000 in annual sales once fully ramped [4][60] - The company is participating in a hypersonic missile program, with progress reported and further updates expected within six months [10][62] Customer and Sales Insights - C2B fabric sales for the year totaled $7.5 million, significantly impacting the profit and loss statement [6][24] - The company has spent $9.3 million on share repurchases under the 2022 authorization, with an additional $2.17 million repurchased in Q1 FY2025 [9][80] - The company has a strong dividend history, having paid over $600 million in dividends over the last 20 years [9][80]

Financial Data and Key Metrics Changes - The company reported half a million in revenue from the first month of the product launch, which is considered encouraging for a new product [13] - The cash position as of March 31 was reported to be between 113 million and 119 million, with a reduced cash burn rate extending the cash runway by up to 50 million, allowing the company to expect to get through the end of 2026 [38][39] Business Line Data and Key Metrics Changes - The company is tracking sales and intermediary metrics, with active files submitted to value analysis committees in over 40 trauma centers, which corresponds to nearly a quarter of the 200 level one trauma centers in the US [15] - The company anticipates that the substantial bulk of sales will occur in the second half of the year due to the lengthy value analysis committee process [19] Market Data and Key Metrics Changes - There are approximately 26,000 cases of vascular injury requiring surgery annually in the US, concentrated in about 200 level one trauma centers, indicating a finite number of call points for the company's sales efforts [7][8] - The company has developed a budget impact model showing that the cost of caring for patients treated with SIMVEST is lower than that for patients treated with synthetic grafts, which could drive adoption [20][21] Company Strategy and Development Direction - The company is focusing on expanding its product offerings, including evaluating engineered blood vessels for fistula repair in end-stage renal patients and has embarked on a phase three trial for this indication [23][25] - The company plans to file a supplemental BLA for the dialysis indication in the second half of 2026, contingent on positive interim analysis results from the ongoing trial [28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the commercial launch, noting that while the initial uptake may be slow, they expect significant results as the process matures [18] - The company has not provided specific revenue guidance for the first year due to the lengthy value analysis committee process but indicated a consensus estimate of around 7 to 8 million for the year [37] Other Important Information - The company has completed three phase two trials for peripheral arterial disease, showing outstanding limb salvage rates, and is in the process of designing a phase three program [31][35] - Long-term military results and civilian clinical data are expected to be published soon, indicating a strong pipeline of news flow [30] Q&A Session Summary Question: What is the company's current cash position and expected cash runway? - The company reported a cash position of between 113 million and 119 million as of March 31 and expects to extend its cash runway through the end of 2026 due to a reduced cash burn rate [38][39] Question: What metrics are being tracked to ensure the success of SymVest in the market? - The company is tracking sales and intermediary metrics, including submissions to value analysis committees in trauma centers, which are crucial for hospital adoption [15] Question: What are the next steps in the company's clinical programs? - The company plans to publish results from the phase three trial for dialysis access and expects to file a supplemental BLA in the second half of 2026 if interim results are positive [28]

General Motors Company (GM) is urging lawmakers to block California’s strict zero-emission vehicle mandate, signaling a significant reversal in the automaker’s stance as demand for electric vehicles (EVs) in the United States begins to slow, per the Wall Street Journal.Per an internal email sent by GM to thousands of salaried employees last week, emissions regulations that are not aligned with market conditions threaten the company’s business by limiting consumer choice and making vehicles less affordable.O ...

Core Insights - Gilat Satellite Networks Ltd. reported a first-quarter 2025 adjusted EPS of 3 cents, down from 11 cents a year ago, missing the Zacks Consensus Estimate by 57.14% [1] - Revenues for the quarter reached $92 million, a 21% increase year-over-year, primarily driven by the Commercial segment and the acquisition of Stellar Blu, but fell short of the Zacks Consensus Estimate of $107 million [2] Financial Performance - Commercial revenues, which account for 70% of net sales, rose 56% year-over-year to $64.2 million, boosted by the Stellar Blu acquisition, which contributed $25 million [7] - Defense revenues increased by 34% year-over-year to $23 million, supported by strong delivery volumes to defense customers in the U.S. and Asia [7] - Revenues from the Peru segment decreased to $4.8 million from $17.7 million in the prior-year quarter due to project delays and postponed bids [8] - Non-GAAP gross margin fell to 31.7% from 37.8%, and non-GAAP operating income decreased to $5.2 million from $6.6 million year-over-year [11] - Adjusted EBITDA declined 18.3% year-over-year to $7.6 million, impacted by a $3.6 million loss from Gilat Stellar Blu [11] Cash Flow & Liquidity - The company utilized $6.6 million of net cash from operating activities in the quarter, compared to $4.2 million generated in the prior-year quarter, primarily for Stellar Blu's working capital needs [12] - As of March 31, 2025, cash and cash equivalents stood at $63.8 million, down from $119.4 million as of December 31, 2024 [12] Strategic Developments - The Gilat Defense unit is experiencing growth due to increased global investment in secure communication technologies, positioning it as a significant revenue stream [3] - The commercial segment is expanding, particularly through the Gilat Stellar Blu and its Sidewinder electronically steered array (ESA) product, which is now installed on over 150 aircraft [4] - New applications for Sidewinder are in development, and efforts are being made to broaden modem compatibility [5] - The company has restructured its organization into three divisions: Gilat Defense, Gilat Commercial, and Gilat Peru, effective January 1, 2025 [6] 2025 Guidance - Management reiterated its 2025 revenue guidance of $415 million to $455 million, with adjusted EBITDA expected to range from $47 million to $53 million [13]

Honda is dialing back its ambitious EV push and doubling down on hybrids amid slowing demand. On Tuesday, CEO Toshihiro Mibe said the automaker would cut its EV investment by 30% from $69 billion (10 trillion yen) to $48.4 billion (7 trillion yen) through the 2031 fiscal year. The move is aimed at stabilizing Honda's future in a slowing EV market.The Japanese company will focus on ramping up its hybrid lineup, citing "changes in environmental regulations" and "a slowdown in EV market expansion" as key driv ...

Core Viewpoint - DT Midstream, Inc. has achieved investment grade ratings from two credit agencies, which is expected to enhance liquidity and reduce interest expenses [1][6]. Company Overview - DT Midstream is involved in the ownership, operation, and development of natural gas pipelines, storage, and gathering systems, serving utilities, power plants, and large industrial customers across the U.S. and Canada [2]. - The company is committed to transitioning towards net zero greenhouse gas emissions by 2050, with a target of achieving a 30% reduction in carbon emissions by 2030 [2]. Credit Rating Details - Moody's upgraded DT Midstream's credit rating to Baa3 with a stable outlook on May 16, 2025 [6]. - Fitch Ratings upgraded DT Midstream's credit rating to BBB- with a stable outlook on October 3, 2024 [6].

Core Insights - The article discusses the impact of U.S. policy issues, particularly under the Trump administration, on various sectors, emphasizing cost-cutting measures [1]. Group 1: Sector Analysis - The author has shifted focus from being solely a Tech analyst to also covering Commodities and Energy sectors, reflecting the ongoing energy transition [1].

DURHAM, N.C., May 19, 2025 (GLOBE NEWSWIRE) -- Humacyte, Inc. (Nasdaq: HUMA), a commercial-stage biotechnology platform company developing universally implantable, bioengineered human tissues at commercial scale, today announced that Laura Niklason, M.D., Ph.D., Founder, President, and Chief Executive Officer, will present at the H.C. Wainwright 3rd Annual BioConnect Investor Conference at Nasdaq in New York, NY on Tuesday, May 20, 2025. Management will also be available for one-on-one meetings. Event: H.C. ...