BRP Group (BWIN) Q4 2024 Earnings Call February 25, 2025 05:00 PM ET Company Participants Bonnie Bishop - Executive Director of Investor RelationsTrevor Baldwin - Chief Executive OfficerBrad Hale - Chief Financial OfficerElyse Greenspan - Managing DirectorGregory Peters - Managing Director - Equity ResearchPablo Singzon - Executive DirectorTommy McJoynt-Griffith - Director Conference Call Participants Joshua Shanker - Research Analyst Operator Greetings, and welcome to the Baldwin Group Fourth Quarter twent ...

Financial Data and Key Metrics Changes - Comparable hotels total revenue was $329 million for Q4 2024 and $1.4 billion for the full year, up approximately 4% and 2.5% compared to the same periods in 2023 respectively [26] - Fourth quarter adjusted EBITDARE increased by approximately 7% and modified funds from operations (MFFO) rose by approximately 6% compared to Q4 2023 [10][36] - Comparable hotels RevPAR for Q4 was $109, up approximately 3%, with ADR at $153, up approximately 1%, and occupancy at 71%, up 2% compared to Q4 2023 [27] Business Line Data and Key Metrics Changes - The company achieved comparable hotels RevPAR growth of approximately 3% for Q4 and more than 1% for the full year, driven by improvements in both ADR and occupancy [9] - Comparable hotels occupancy for the full year was 75%, approximately 1% higher than 2023, and comparable hotels ADR was $159, up approximately 1% [27] Market Data and Key Metrics Changes - Approximately 55% of the company's hotels had no new upper upscale, upscale, or upper midscale product under construction within a five-mile radius at the end of Q4 [11] - The company noted that supply-demand dynamics remain favorable, with limited supply growth in its markets enhancing the overall risk profile of the portfolio [11] Company Strategy and Development Direction - The company continues to monitor its distribution rate and timing relative to hotel performance and potential capital uses, maintaining a disciplined approach to capital allocation [12][13] - Recent acquisitions have positively contributed to overall portfolio performance, with seven hotels acquired since June 2024 producing an unlevered 9% yield after CapEx [16] - The company is actively underwriting additional opportunities and is well-positioned to act where attractive yields can be achieved relative to other capital allocation choices [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to produce strong returns for investors over the coming years, citing stable operating fundamentals and favorable supply-demand dynamics [22][42] - The outlook for 2025 includes expectations for net income between $173 million and $202 million, with comparable hotels RevPAR change projected between 1% and 3% [39] Other Important Information - The company paid distributions totaling $58 million or $0.24 per common share during Q4, bringing the annual payout to approximately $244 million or $1.01 per common share [37] - The company has approximately $1.5 billion of total debt outstanding, with a weighted average interest rate of 4.7% and a debt maturity profile averaging three years [38] Q&A Session Summary Question: What operating expense growth has been assumed in 2025 guidance? - Management indicated that normalizing for fixed cost hurdles, the assumed increase for total hotel expenses is around 4.2% at the midpoint, with variable expenses outside of fixed costs around 3.5% [50] Question: What percentage of the portfolio would be described as having outsized CapEx needs? - Management stated that between 7% and 10% of the portfolio fits this category, with a focus on strategic and tactical reasons for prioritizing asset sales [52] Question: How close is the midweek ADR to weekend ADR? - Management noted that midweek ADR is getting closer to weekend levels, with continued opportunities for growth as occupancy improves [60] Question: What is the outlook for RevPAR growth in 2025? - Management believes that both business and leisure demand could contribute to outperforming the guidance, with midweek growth expected to be a significant driver [73] Question: What is the expected wage benefit growth this year? - Wage benefit growth is expected to be between 3.5% and 4% [130] Question: What is the current state of the transaction market? - Management indicated that the transaction market remains challenging, with fewer bidders interested in portfolios, but they expect conditions to improve as the year progresses [66][110]

Codere Online Luxembourg, S.A. (NASDAQ:CDRO) Q4 2024 Earnings Call Transcript February 20, 2025 8:30 AM ET Company Participants Guillermo Lancha - Head of Investor Relations Aviv Sher - Chief Executive Officer Oscar Iglesias - Chief Financial Officer Conference Call Participants Jeffrey Stantial - Stifel Ryan Sigdahl - Craig-Hallum Capital Group Michael Kupinski - Noble Capital Markets Operator Good morning and welcome to Codere Online Fourth Quarter 2024 Results Conference Call. All lines have been placed ...

Sanuwave Health (SNWV) Q3 2024 Earnings Call November 08, 2024 08:30 AM ET Speaker0 Please note this call is being recorded and I will be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Morgan Frank, Chairman and CEO of Sanywave. Speaker1 Thank you very much. So welcome, everyone, to Sanywave's third quarter twenty twenty four earnings call. As many of you saw, our Form 10 Q was filed with the SEC last night. Our earnings release was issued this morning, a ...

Sanuwave Health (SNWV) Q4 2023 Earnings Call March 22, 2024 08:30 AM ET Speaker0 note today's call will be recorded and I will be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Morgan Frank, Chairman and CEO of SANUWAVE. Please go ahead. Speaker1 Thanks very much. So welcome everyone to SANUWAVE's fourth quarter and fiscal twenty twenty three earnings call. Our form 10 k was filed with the SEC last night. Our earnings release was issued this morning, and ...