Tutor Perini (TPC) Q1 2025 Earnings Call May 07, 2025 05:00 PM ET Company Participants Jorge Casado - Vice President of Investor Relations & Corporate CommunicationsGary Smalley - President & CEORonald Tutor - Executive ChairmanRyan Soroka - EVP & CFOAdam Thalhimer - Director of ResearchLiam Burke - Managing Director Conference Call Participants Steven Fisher - Managing Director & Equity Research AnalystMichael Dudas - Equity Research Analyst Operator Good day, ladies and gentlemen, and welcome to Tudor Par ...

Tutor Perini (TPC) Q1 2025 Earnings Call May 07, 2025 05:00 PM ET Speaker0 Good day, ladies and gentlemen, and welcome to Tudor Parrini Corporation First Quarter twenty twenty five Earnings Conference Call. My name is Sherry, and I will be your coordinator for today. All participants are currently in a listen only mode. Following management's prepared remarks, we will be opening the call for a question and answer session. As a reminder, this conference call is being recorded for replay purposes. I will now ...

Core Insights - Matrix Service Company reported strong revenue growth in the third quarter of fiscal 2025, driven by increased activity in its Storage & Terminal Solutions and Utility & Power Infrastructure segments, achieving a revenue of $200.2 million, up 21% from $166.0 million in the same quarter of the previous year [5][9] - The company experienced a book-to-bill ratio of 1.5x for the quarter, indicating strong demand in core energy and industrial markets, with total project awards of $301.2 million [7][13] - Despite a reduction in fiscal year revenue guidance by 10% due to macroeconomic uncertainties, the company maintains a robust backlog of $1.4 billion and a project pipeline valued at $7 billion, suggesting continued growth potential [3][4][18] Financial Summary - Revenue for the third quarter of fiscal 2025 was $200.2 million, a 21% increase from $166.0 million in the prior year [5] - Gross margin improved to $12.9 million (6.4%) compared to $5.6 million (3.4%) in the same quarter of fiscal 2024, attributed to better performance in Utility and Power Infrastructure and Process and Industrial Facilities segments [6] - The company reported a net loss of $(3.4) million or $(0.12) per share, an improvement from a net loss of $(14.6) million or $(0.53) per share in the prior year [9] Segment Performance - The Storage and Terminal Solutions segment saw revenue increase by 77% to $96.1 million, driven by higher volumes in specialty vessel and LNG storage projects, although gross margin slightly decreased to 3.9% [10] - The Utility and Power Infrastructure segment's revenue rose 27% to $58.7 million, with gross margin improving significantly to 9.4% due to effective project execution [11] - The Process and Industrial Facilities segment experienced a revenue decline to $45.4 million, primarily due to the completion of a large renewable diesel project, but gross margin improved to 8.3% [12] Backlog and Project Awards - The total backlog increased by 7.7% to $1.4 billion as of March 31, 2025, with project awards totaling $301.2 million for the quarter [7][13] - The book-to-bill ratio for the quarter was 1.5x, with significant contributions from the Storage and Terminal Solutions segment, which had a book-to-bill ratio of 2.1x [13][42] Financial Position - As of March 31, 2025, the company had total liquidity of $247.1 million, consisting of $185.5 million in unrestricted cash and cash equivalents, with no outstanding debt [16] - Cash flow from operations for the quarter was $31.2 million, reflecting strong scheduled payments from customers [14] Fiscal Year 2025 Guidance - The company updated its fiscal year 2025 revenue guidance to a range of $770 million to $800 million, down from the previous guidance of $850 million to $900 million, due to external uncertainties affecting project timelines [18]

DRAFT Navios Maritime Partners L.P. (NYSE:NMM) First Quarter 2025 Earnings Presentation May 7, 2025 1 1 Forward-Looking Statements This presentation contains and will contain forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, TCE rates and Navios Partners' expected cash flow generation, future contracted revenues, future distributions and its ability to make distributio ...

Financial Data and Key Metrics Changes - Adjusted earnings per share increased by 29% to $1.63, with adjusted EBITDA rising by 31% to $80 million [8][10] - Revenue grew by 7% on a pro forma basis, with gross profit margins expanding over 400 basis points to reach 22% [9][10] - Operating cash flow was strong at $85 million, and backlog totaled $2.1 billion, a 17% year-over-year increase [10][11] Business Line Data and Key Metrics Changes - E Infrastructure Solutions segment revenue grew by over 18%, driven primarily by a 60% increase in the data center market [9][14] - Transportation Solutions revenue increased by 9%, with adjusted operating profit growing by 60% due to strong market demand [14][15] - Building Solutions segment revenue declined by 14%, impacted by affordability challenges in the housing market [15][27] Market Data and Key Metrics Changes - E Infrastructure Solutions backlog reached $1.2 billion, up 27% year-over-year, with significant growth in data center projects [11][12] - Transportation Solutions backlog was $861 million, an 11% year-over-year increase [15] - Overall backlog totaled $2.23 billion, a 21% increase from year-end 2024 [16] Company Strategy and Development Direction - The company remains focused on high-return opportunities and plans to enhance long-term value through strategic acquisitions, particularly in e infrastructure [10][28] - The acquisition of Drake Concrete for $25 million is expected to contribute $55 million in revenue and $6.5 million in EBITDA in 2025 [10] - The company is optimistic about future growth in e infrastructure, anticipating mid to high teens revenue growth and adjusted operating profit margins in the mid-20% range [24][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong backlog and future phase opportunities, despite uncertainties in trade policies and the economy [10][22] - The company is optimistic about the ongoing strength in data center demand and anticipates continued growth in core markets [22][24] - Management noted that while the residential market is currently soft, there is significant pent-up demand that could drive future growth [52][53] Other Important Information - The company expects full-year 2025 revenue guidance to range from $2.05 billion to $2.15 billion, with adjusted diluted EPS guidance of $8.40 to $8.90 [21] - The effective income tax rate for the first quarter was 26.1%, with expectations for the full year to remain around 26% [19] Q&A Session Summary Question: Insights on the 35% of backlog not related to data centers - Management feels positive about the backlog, with steady manufacturing and increasing e-commerce activity contributing to growth [31][32] Question: Exposure to tariffs and cost perspective - Management indicated minimal exposure to tariffs due to fixed pricing in contracts and indexing mechanisms in place [34][35] Question: Drivers of margin performance in Transportation Solutions - Margin improvements are primarily due to a shift towards higher-margin services rather than the low bid strategy [46][47] Question: Comfort in bidding for new projects - Management remains optimistic about bid activity and is focusing on long-term project visibility [50][52] Question: Future infrastructure bill expectations - Management noted positive bipartisan activity in Congress regarding the next infrastructure bill, indicating a proactive approach to future funding [68][70] Question: Capacity constraints related to biopharma projects - Management expressed confidence in handling new projects and indicated readiness to expand capacity if necessary [74][76]

Core Insights - Northwest Pipe Company reported its financial results for Q1 2025, highlighting a mix of challenges and respectable performance across its business segments [1][2]. Financial Performance - Net sales for Q1 2025 were $116.1 million, a 2.6% increase from $113.2 million in Q1 2024 [4][5]. - Net income decreased to $4.0 million, or $0.39 per diluted share, compared to $5.2 million, or $0.52 per diluted share in the same period last year [5][20]. - Gross profit fell by 3.8% to $19.4 million, representing 16.7% of net sales, down from 17.8% in Q1 2024 [5][20]. Segment Performance - The Engineered Steel Pressure Pipe (SPP) segment generated $78.4 million in revenue, a 2.0% decrease from $80.0 million in Q1 2024, with a gross profit margin of 15.5% [5][6]. - The Precast Infrastructure and Engineered Systems segment saw revenues increase by 13.4% to $37.7 million, with a gross profit margin of 19.1%, marking a 140 basis point improvement year-over-year [14][20]. Backlog and Orders - The SPP backlog was $203 million as of March 31, 2025, down from $213 million at the end of 2024 [6]. - The backlog including confirmed orders for SPP was $289 million, a decrease from $310 million at the end of 2024 [6]. - The Precast order book rose to $64 million, up 23% year-over-year, driven by growth in the non-residential segment [14]. Strategic Outlook - The company anticipates a rebound in bidding activity in Q2 2025, with backlog climbing above $300 million [2]. - Expectations for the second half of 2025 include continued growth in both revenue and margins for both business segments [2][14]. - The company plans to rebrand as NWPX Infrastructure, Inc. in June 2025, reflecting its strategic evolution towards infrastructure-focused solutions [2][4].

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