2025 First Quarter Results May 1, 2025 Paper | Packaging | Solutions Smurfit Westrock Q1 | 2025 Results | 2 Forward Looking Statements The presentation includes certain "forward-looking statements" (including 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) regarding, among other things, the plans, strategies, outcomes, outlooks, and prospects, both business and financial, of Smurfit Westrock, the expected benefi ...

First quarter 2025 earnings per share of $1.33Inland marine experienced improved market conditions with a sequential increase in spot market prices and operating margins around 20% despite an increase in delay daysKirby repurchased 1,258,031 shares at an average price of $99.16 for $124.7 million year-to-date through April 30, 2025Acquired 14 barges, including four specialty barges, and four high horsepower boats from undisclosed seller for $97.3 millionQuarterly earnings and free cash flow expected to stre ...

First Quarter 2025 Earnings Supplement We use any of the following to comply with our disclosure obligations under Regulation FD: press releases, SEC filings, public conference calls, or our website. We routinely post important information on our website at www.targaresources.com, including information that may be deemed to be material. We encourage investors and others interested in the company to monitor these distribution channels for material disclosures. Q1 2025 EARNINGS SUPPLEMENT PRESENTATION 2 Finan ...

Core Insights - Ecovyst Inc. reported resilient business performance in Q1 2025, with stronger-than-expected results in the Advanced Materials & Catalysts segment, while the Ecoservices segment met expectations despite challenges [3][4] - The company anticipates increased activity in its regeneration services business due to high refinery utilization and seasonal gasoline demand starting in Q2 2025 [3][4] - Ecovyst announced an agreement to acquire Cornerstone Chemical's sulfuric acid assets for $35 million, expected to close in Q2 2025, which will enhance its Gulf Coast network and capacity [3][9] Financial Performance - Q1 2025 sales were $162.2 million, a 1.1% increase from $160.5 million in Q1 2024 [9][23] - Adjusted EBITDA for Q1 2025 was $38.9 million, down from $45.5 million in Q1 2024, reflecting a decrease in the Ecoservices segment [9][32] - The Ecoservices segment reported sales of $143.1 million, up from $141.6 million in the previous year, while Adjusted EBITDA decreased to $28.5 million from $41.5 million [4][32] Segment Analysis - Advanced Materials & Catalysts segment saw sales of $19.1 million, slightly up from $18.9 million in Q1 2024, with a significant increase in Zeolyst Joint Venture sales to $37.7 million from $23.5 million [5][32] - Adjusted EBITDA for Advanced Materials & Catalysts increased to $17.5 million from $11.1 million, driven by higher sales volume in the Zeolyst Joint Venture [5][32] Cash Flow and Balance Sheet - Cash flows from operating activities were $10.3 million in Q1 2025, down from $36.5 million in Q1 2024, primarily due to timing of dividends from the Zeolyst Joint Venture [6][9] - As of March 31, 2025, the company had cash and cash equivalents of $127.5 million and total gross debt of $868.6 million, resulting in total available liquidity of $201.1 million [6][24] 2025 Financial Outlook - The company reaffirmed its full-year Adjusted EBITDA guidance and increased sales guidance due to anticipated higher sulfur costs [7][10] - Ecoservices is expected to benefit from higher sales volumes for regeneration services and virgin sulfuric acid in the second quarter and throughout 2025 [7][10] - The company anticipates significant year-over-year sales growth in the Zeolyst Joint Venture, driven by positive momentum in hydrocracking catalyst sales [7][10]

HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“TRGP,” the “Company” or “Targa”) today reported first quarter 2025 results. First quarter 2025 net income attributable to Targa Resources Corp. was $270.5 million compared to $275.2 million for the first quarter of 2024. The Company reported adjusted earnings before interest, income taxes, depreciation and amortization, and other non-cash items (“adjusted EBITDA”)(1) of $1,178.5 million for the first quarter of 2025 compared to $ ...

Spotify 2025 年一季报在 4 月 29 日美股盘前出炉，由于指引中收入、利润不及预期，在估值饱满下，财报 miss 引发股价大跌。 具体来看财报核心要点： 1. 20% 的收入增长趋势不保？： 引发大跌的主要原因，就是 Q1 在收入本身不及预期的情况下，公司对 Q2 的收入指引 42 亿欧元，同样低于市场预期的 43.8 亿欧 元。 按照指引，Q2 收入增速只有 13%，和管理层一直展望的短中期保持年增 20% 的指引差距过大，自然引发了市场的担忧。 收入 miss 也带来了经营利润的 miss，不过从利润率来看 Q2 盈利能力比市场原本想的要好。 2. 量和价谁更重要？： 从订阅收入的量价拆分来看，收入不及预期的关键原因在于单个用户的 ARPPU 过低。从 2023 年开始的这一轮涨价潮以来，ARPPU 的增 长成为了 Spotify 收入增长的核心驱动力之一，也是市场预期未来保持增长趋势的关键因子。 Q1 订阅用户增长主要来自于拉美、欧洲地区，ARPPU 虽然同比还是增长的，但增幅只有 3.9%，市场则预期可以提高 5%。而订阅人数来看，Q1 净增 500 万人， 比指引/预期都要高。 这里面 ...

Financial Data and Key Metrics Changes - The company's first quarter revenue was $262 million, representing a 21% year-over-year increase, while adjusted EBITDA was $33.2 million, nearly double compared to the same period last year [8][22]. - Gross profit margins increased by 125 basis points year-over-year to 34.9%, driven by revenue diversification and higher growth in more profitable markets [24]. - Marketing spend was $38.8 million, or 15% of revenue, down from 17% of revenue in the same quarter last year, indicating improved marketing efficiency [25][26]. Business Line Data and Key Metrics Changes - Online casino revenue grew by 25% year-over-year, while sports betting revenue increased by 11% [9][22]. - In North America, monthly active users (MAUs) grew by 17% year-over-year, with an average revenue per monthly active user (ARPMAU) of $368, up 3% year-over-year [10][22]. - Latin America saw MAUs increase by 61% year-over-year, reaching a new quarterly record of 354,000 [10][23]. Market Data and Key Metrics Changes - North American markets showed revenue growth in 15 out of 16 online markets, with Michigan revenue up 40% and Delaware exceeding 80% growth in its first year of comparisons [12]. - In Colombia, gross gaming revenue (GGR) was up 55% in local currency, despite a 19% value-added tax on player deposits [13][14]. - The company is optimistic about the potential growth in Alberta, Canada, as legislation for online gaming progresses [17]. Company Strategy and Development Direction - The company focuses on innovation and enhancing player experience to drive growth and profitability [8][20]. - The strategy includes differentiating offerings to improve user engagement and retention across product verticals [10][20]. - The company is monitoring legislative developments in various U.S. states to capitalize on potential online gaming opportunities [18][19]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenges, including the impact of taxes in Colombia, while maintaining strong player activity and market share [14][32]. - The company anticipates continued growth in revenue and adjusted EBITDA for 2025, with guidance remaining between $1.1 billion and $1.8 billion in revenue [27][28]. - Management highlighted the resilience of the online gaming sector, particularly during challenging economic times, and the potential for increased tax revenues from legalized online casinos [19][20]. Other Important Information - The company ended the quarter with $228 million in unrestricted cash and no debt, generating approximately $25 million in cash during the quarter [26]. - The company repurchased approximately 500,000 shares at an average price of $10.35 under its share repurchase program [27]. Q&A Session Summary Question: Insights on Colombia's competitive landscape and market share - Management indicated that they are absorbing the tax through higher bonusing, similar to competitors, and are confident in retaining or growing market share despite the challenges [32]. Question: Growth expectations for Delaware in 2025 - Management expects continued growth in Delaware, although the growth rate may slow as the market matures [34][36]. Question: Adjustments to business model in Colombia - Management is continuously adjusting strategies to maximize net revenue and reduce deposit turnover in response to the VAT tax [42][44]. Question: Impact of Pennsylvania joining the multistate Internet gaming agreement - Management expressed excitement about the launch in Pennsylvania and the potential for increased player liquidity across platforms [46]. Question: Tax impact from Colombia on revenue and EBITDA - Management noted that the VAT tax has significantly impacted net revenue growth, with expectations for meaningful growth once the tax is removed [52][94]. Question: User growth concentration in North America - Management indicated that Delaware contributed mid-single digits to the overall 17% user growth, with most growth coming from higher-value markets [87][88].

Any forward-looking statements contained in this release are included pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of the Company regarding the future, including statements regarding the anticipated timing and benefits of the proposed joint venture transaction, and may be identified by the use of words such as " ...

Financial Performance - For Q1 2025, Methanex reported net income of $111 million, or $1.44 per diluted share, compared to $45 million, or $0.67 per diluted share in Q4 2024 [3][14] - Adjusted EBITDA for Q1 2025 was $248 million, up from $224 million in Q4 2024 [3][8] - The average realized price for methanol in Q1 2025 was $404 per tonne, an increase from $370 per tonne in Q4 2024 [7][8] Production and Sales - Total production for Q1 2025 was 1,619,000 tonnes, down from 1,868,000 tonnes in Q4 2024, primarily due to a planned turnaround at Geismar 2 and an unplanned outage at Geismar 3 [6][14] - Total sales volume in Q1 2025 was 2,217,000 tonnes, compared to 2,564,000 tonnes in Q4 2024 [14] - Methanex-produced methanol sales were 1,703,000 tonnes in Q1 2025, up from 1,455,000 tonnes in Q4 2024 [14] Operational Highlights - Geismar produced 617,000 tonnes in Q1 2025, down from 839,000 tonnes in Q4 2024 due to maintenance and outages [16] - Chile's production increased to 429,000 tonnes in Q1 2025 from 387,000 tonnes in Q4 2024, attributed to improved reliability [17] - Egypt's production decreased to 136,000 tonnes in Q1 2025 from 155,000 tonnes in Q4 2024, impacted by gas availability [20] Future Outlook - The company expects lower Adjusted EBITDA in Q2 2025 compared to Q1 2025, primarily due to the outage at Geismar 3 and a lower average realized price [23] - The acquisition of OCI Global's international methanol business is anticipated to close in the second quarter of 2025 [7][14] - Production guidance for 2025 is expected to be lower than the previously guided 7.5 million tonnes due to the unplanned outage [22]

Financial Data and Key Metrics Changes - The company reported a strong quarter with notable financial results, including a $22 million EBITDA from BetMGM, representing an improvement of over $150 million from the prior year period [13][21] - The company ended the quarter with a $200 million EBITDA enhancement plan in motion, expecting to implement more than $150 million in 2025 [9][23] - Segment adjusted EBITDAR was down $17 million, influenced by $37 million in business interruption proceeds during the quarter [19] Business Line Data and Key Metrics Changes - BetMGM reported a 34% increase in net revenue from operations, with iGaming net revenues growing by 27% and online sports net revenues increasing by 68% [13][21] - MGM China maintained a mid-teen market share at 15.7%, with margins holding at 28% due to strong operational efficiency [12][20] - The regional properties experienced a modest decline in revenue due to inclement weather, but ended the quarter strong with record slot wins in March [11][20] Market Data and Key Metrics Changes - Las Vegas operations showed resilience with record hotel occupancy and strong demand, particularly from the Marriott partnership, which booked over 440,000 room nights in April [30][31] - Domestic flight capacity to Las Vegas increased by 2% from April to June, with 14 of the 25 largest metro markets increasing capacity [10] - The company noted that the Las Vegas Strip resorts remained solid despite previous periods benefiting from the Super Bowl [10][11] Company Strategy and Development Direction - The company is focused on leveraging its luxury offerings and maintaining operational agility to navigate varying economic conditions [9][10] - MGM is well-positioned for future growth with ongoing projects in Japan and potential opportunities in New York [15][26] - The company is committed to enhancing its digital business, with significant investments in BetMGM and MGM Digital, which is expected to generate substantial revenue [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of Las Vegas and the company's ability to adapt to economic cycles [11][112] - The operating environment remains favorable, with key metrics in line with expectations and a strong events calendar driving demand [10][11] - Management highlighted the importance of the Marriott partnership and the positive impact on occupancy and revenue [19][31] Other Important Information - MGM China increased its dividend payout policy to 50% of distributable profits, up from 35% [20] - The company repurchased nearly 15 million shares for about $494 million in the first quarter, with board approval for an additional $2 billion in share repurchases [25][26] - The company is actively managing labor costs and has seen a reduction in full-time employees across regions [41][43] Q&A Session Summary Question: Can you unpack the April performance in Las Vegas regarding major KPIs? - Management noted that April is shaping up to be a record month for hotel occupancy and group performance, with strong demand from the Marriott partnership [30][31] Question: How is the company compensating for the soft inbound from Canada? - The higher-end segment remains unaffected, with strong performance from Marriott blocks and casino business compensating for the leisure type business decline [36][37] Question: Are payroll and labor increases related to the $150 million cost management initiative? - Management confirmed that the labor cost management efforts are ongoing, contributing to the observed growth in FTEs [41][43] Question: What is the current status of the Japan project and its budget? - The equity commitment for the Japan project has increased to ¥428 billion, with expected contributions of $600 million to $700 million per year over the next four years [60][61] Question: How does the company view share repurchases in light of increasing CapEx? - Management indicated that while share repurchases may slow down, they are open to allowing leverage to increase to fund upcoming opportunities [77][78] Question: What is the impact of tariffs on the development pipeline? - Management stated that the impact of tariffs on the development pipeline is minimal, with most purchases already completed for the year [86][88]