INVESTOR PRESENTATION All company names are trademarks , registered® trademarks or service marks of their respective holders. Use of them does not imply any affiliation with or endorsement of them. 2 LXPINDUSTRIAL TRUST FIRST QUARTER 2025 LXPINDUSTRIAL TRUST Forward-Looking Statements and Other Disclosure This presentation contains certain 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 ...

Core Insights - Exco Technologies Limited reported solid results for Q2 fiscal 2025, with consolidated sales of $166.1 million, a 1% increase from $163.8 million in the same quarter last year [2][5] - The company announced a quarterly dividend of $0.105 per common share, to be paid on June 30, 2025 [1] Financial Performance - Net income for Q2 was $6.4 million, down from $8.1 million in the same quarter last year, representing a 21% decrease [7] - Earnings per share (EPS) were reported at $0.17, including $0.05 in restructuring charges [5][7] - EBITDA for the quarter totaled $19.7 million, a decrease of 7% from $21.2 million in the prior year [11] Segment Performance - The Automotive Solutions segment reported sales of $82.9 million, a decrease of 3% year-over-year, but a sequential increase of 15% [3] - The Casting and Extrusion segment saw sales of $83.2 million, an increase of 7% from the same period last year [4] Market Conditions - Global trade uncertainty has led the company to withdraw its Fiscal 2026 financial targets, although management remains optimistic about long-term growth opportunities [2][14] - The automotive market is facing challenges due to tariff uncertainties, recession risks, and environmental regulations, but there are supportive factors such as lower interest rates and an aging vehicle fleet [3][14] Strategic Initiatives - Exco is focusing on strategic investments and new program launches to capitalize on growth opportunities [14] - The company is developing its greenfield locations in Morocco and Mexico to gain market share in Europe and Latin America [6][15] Cash Flow and Capital Expenditures - Exco generated cash from operating activities of $8.7 million and free cash flow of $3.1 million in the quarter [12] - The company invested $4.1 million in growth capital expenditures during the quarter [12]

Financial Data and Key Metrics Changes - The company reported revenue of $189 million for the first quarter of 2025, reflecting an increase of over 17% compared to the previous year [16] - Adjusted EBITDA doubled to $8.2 million, with an adjusted EBITDA margin improving by 180 basis points to 4.3% [18][19] - Consolidated gross profit margin increased to $23 million, or 12.2% of revenue, up from 9.7% in the same period last year [16][18] Business Line Data and Key Metrics Changes - Marine revenue increased by over 19%, while concrete revenue rose by 13% [16] - Adjusted EBITDA margin in the Marine segment was 8.6%, compared to 0.9% last year, while the Concrete segment's adjusted EBITDA margin was negative 4.4%, down from positive 5.7% in the prior year [19] Market Data and Key Metrics Changes - The company secured nearly $350 million in new project wins, with $161 million in marine and $188 million in concrete projects [11] - The backlog plus awarded work reached $890 million, with $607 million related to the Marine segment and $232 million to the Concrete segment [21] Company Strategy and Development Direction - The company is focused on building a profitable backlog from a strong pipeline of opportunities, particularly in marine facilities, dredging, bridges, and data centers [11][12] - The management emphasized the importance of the current administration's policies, which are expected to provide tailwinds for the business, particularly in shipbuilding and defense [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong demand in the data center market and a lack of signs of a slowdown [13][14] - The company reiterated its full-year guidance for 2025, expecting revenue between $800 million and $850 million and adjusted EBITDA between $42 million and $46 million [25] Other Important Information - The company is transitioning to new IT systems to enhance operational efficiency and is consolidating its Houston area offices to reduce costs [22][24] - Cash flow from operations was negative $3.4 million, an improvement from negative $22.8 million in the prior year quarter [21][22] Q&A Session Summary Question: Outlook on defense spending and RFPs - Management expects awards related to defense spending to materialize late this year or early next year, with potential project sizes around $500 million [28][30] Question: Concrete business outlook - Management has not seen a slowdown in bidding activity and expects concrete margins to improve as the year progresses [31][33] Question: Input costs and pricing - Management anticipates increased costs for steel and other materials but plans to manage these risks through contingency measures [65] Question: Marine segment margins - The strong margins in the Marine segment are expected to continue, although they may fluctuate due to project mix [40][41] Question: Capital position for future projects - The company has sufficient capital capacity to support upcoming projects and is in discussions with financing partners for potential equipment acquisitions [56][57]

Financial Data and Key Metrics Changes - Company revenue increased by 4% in Q1, totaling $55 million growth, with the Environmental Services (ES) segment contributing two-thirds of that growth [27][8] - Adjusted EBITDA for Q1 was $235 million, with a margin of 16.4%, slightly down year-over-year but in line with expectations [28][27] - Net income for Q1 was down compared to the same period last year, with earnings per share reported at $1.09 [29] Business Line Data and Key Metrics Changes - The ES segment saw a 3% increase in revenue and a 4% increase in adjusted EBITDA, driven by the acquisition of Hefeco and higher incineration utilization [9][8] - Safety Kleen Environmental Services (SKSS) revenue increased year-over-year, reflecting greater volumes and a shift to a higher Charge for Oil (CFO), although adjusted EBITDA decreased slightly [15][16] - Industrial Services revenue declined by 10% year-over-year due to refinery customers delaying spending and maintenance [12][13] Market Data and Key Metrics Changes - The total recordable incident rate (TRIR) for safety was reported at 0.46, marking the best quarter in the company's history [5][6] - Incineration utilization improved to 88% from 79% in Q1 2024, with incineration pricing rising more than 5% on a mix-adjusted basis [10][11] - The company processed 5,000 tons in its new kiln during Q1, with a goal to process over 28,000 tons for the year [11][19] Company Strategy and Development Direction - The company is focusing on internal and external growth opportunities, with a strong cash balance and low leverage to support its growth strategy [20][22] - There is an emphasis on capitalizing on synergies through M&A while also investing in expanding processing and recycling capabilities [20][21] - The company aims to stabilize the SKSS segment while maximizing the value of its assets and minimizing downside potential [24][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand for services, particularly in disposal and recycling, despite potential impacts from tariffs [22][70] - The company anticipates a strong second half of the year, with a robust pipeline of remediation and waste projects [24][22] - Management remains cautious about the industrial services segment but believes in the long-term prospects due to the necessity of the services provided [24][70] Other Important Information - The company ended Q1 with a cash balance approaching $600 million and a net debt to EBITDA ratio of approximately 2.1 times [29][30] - A credit rating upgrade by Moody's was received during the quarter, reflecting strong financial performance and capital policies [30][29] - Adjusted free cash flow for Q1 was negative $116 million, consistent with the previous year, primarily due to timing of incentive comp payments and seasonal working capital increases [31][30] Q&A Session Summary Question: Impact of weather on ES segment performance - Management indicated that weather negatively impacted Q1 performance, estimating a loss of $10 million to $12 million in EBITDA due to difficult conditions in January [41][42] Question: Guidance for Q2 and refinery turnarounds - Management confirmed that Q2 guidance does not include large-scale emergency response events and expects a better second half with over 150 planned refinery turnarounds [44][45] Question: Cyclicality of the ES segment - Management described the ES segment as recession-resistant, with continued strong growth expected in the second and third quarters [49][50] Question: Update on PFAS revenue growth - Management confirmed a strong pipeline for PFAS solutions, expecting revenue growth in the range of 15% to 20% for the year [59][60] Question: Base oil pricing and inventory status - Management acknowledged pressure on base oil pricing but highlighted successful pricing initiatives that doubled the average price charged for used oil collection [100][101] Question: M&A pipeline and current environment - Management noted that valuations remain high for assets, but the company is actively reviewing multiple deals while being selective [91][92]

Financial Data and Key Metrics Changes - Company revenue increased by 4% in Q1, totaling $55 million, with the Environmental Services (ES) segment accounting for two-thirds of that growth [23][6] - Adjusted EBITDA for Q1 was $235 million, with a margin of 16.4%, down year over year but in line with expectations [24][29] - Net income for Q1 was down compared to the same period last year, with earnings per share of $1.09 [25][29] - Cash and short-term marketable securities approached $600 million at quarter-end, with a net debt to EBITDA ratio of approximately 2.1 times [26][27] Segment Performance Changes - In the ES segment, adjusted EBITDA increased by 4% with a 3% revenue increase, resulting in a 10 basis point margin improvement [7][24] - The Safety Kleen Environmental Services (SKSS) segment saw revenue growth year over year, driven by higher volumes and a shift to a higher charge for oil, despite lower base oil pricing [13][14] - Industrial Services revenue decreased by 10% year over year due to refinery customers delaying spending and maintenance [10][11] Market Data and Key Metrics Changes - The total recordable incident rate (TRIR) was 0.46 in Q1, marking the best quarter in the company's history [5] - Incineration utilization was 88% in Q1, up from 79% in Q1 2024, with incineration pricing rising more than 5% on a mix-adjusted basis [8][9] - The company gathered 58 million gallons of waste oil in Q1, compared to 55 million gallons a year ago [14] Company Strategy and Industry Competition - The company is focused on internal and external growth opportunities, with a strong cash balance and low leverage to support its growth strategy [18][20] - The company is optimistic about its prospects for 2025, citing strong demand for disposal services and a robust pipeline of remediation and waste projects [20][22] - The company is committed to further adjusting pricing and reducing costs to offset inflation and tariff impacts [12][20] Management's Comments on Operating Environment and Future Outlook - Management noted that weather negatively impacted Q1 performance, estimating a loss of $10 million to $12 million in EBITDA due to weather conditions [36][37] - The company remains optimistic about the demand environment, particularly in the ES segment, and expects continued strong growth despite potential economic slowdowns [20][66] - Management emphasized the resilience of the ES segment, stating it is recession-resistant and has a strong backlog of waste and project opportunities [45][66] Other Important Information - The company plans to continue its buyback program, having repurchased nearly 260,000 shares for a total of $55 million in Q1 [28][29] - The company expects adjusted free cash flow for 2025 to be in the range of $430 million to $490 million, representing a nearly 30% increase from 2024 [32] Q&A Session Summary Question: Impact of weather on ES segment performance - Management acknowledged that weather had a significant impact in January, estimating a loss of $10 million to $12 million in EBITDA due to adverse conditions, but noted strong recovery in March [36][37] Question: Expectations for refinery turnarounds in Industrial Services - Management indicated that over 150 turnarounds are planned for the second half of the year, expecting a better performance in that segment [40][41] Question: Cyclicality of the ES segment - Management stated that the ES segment is recession-resistant, with continued strong growth expected in the second and third quarters [44][66] Question: Update on PFAS revenue growth - Management expressed confidence in achieving 15% to 20% revenue growth for PFAS-related services this year, supported by a strong regulatory framework [54][55] Question: Base oil pricing and inventory status - Management noted that base oil pricing has been under pressure but highlighted successful pricing initiatives that have offset some of the challenges [94][96]

CECO Environmental (CECO) Q1 2025 Earnings Call April 29, 2025 08:30 AM ET Company Participants Steven Hooser - Partner, Senior MD & President - IDEAS Conferences​Todd Gleason - CEO & Member of Board of DirectorsPeter Johansson - Senior VP, Chief Financial & Strategy Officer Conference Call Participants Rob Brown - Founding Partner & Senior Research AnalystBobby Brooks - Vice President, Senior Equity Research AnalystAaron Spychalla - Research AnalystGerry Sweeney - Managing Director, Senior Research Analyst ...

Numerous Financial Records Reflect Strength of Well-Positioned Portfolio Company Maintains Full Year Outlook ADDISON, Texas, April 29, 2025 (GLOBE NEWSWIRE) -- CECO Environmental Corp. (Nasdaq: CECO) ("CECO"), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, today reported its financial results for the first quarter of 2025. First Quarter Summary All comparisons are versus the comparable prior year period, unless oth ...

April 21, 2025 03:20 AM GMT Multi-Industry | North America Week Ahead EPS Preview + Key Macro Debates Given the fast changing + volatile macro, we are opting for "week ahead" previews this EPS season. As always, we spoke with every company in back half of March. Detailed modeling + thoughts within. We anticipate modest Q1 beats but with the world changing on April 2, outlooks will drive the equities and we expect market focus on April demand commentary and rest of year price / cost. While latest investor co ...

Financial Data and Key Metrics Changes - The company reported non-GAAP earnings per diluted share of $3.77, exceeding expectations and reflecting a gross profit margin increase of 140 basis points quarter over quarter [5][21][23] - Cash flow from operations was $64.5 million, despite a significant working capital investment [26][27] - The company revised its LIFO estimate for 2025 to reflect a $100 million expense, up from a prior estimate of $60 million income due to rising carbon steel and aluminum costs [24] Business Line Data and Key Metrics Changes - Tons sold in Q1 2025 reached a record, increasing 12.8% compared to Q4 2024, and 9% year-over-year, significantly outperforming the service center industry's decline of 0.5% [11][12] - The nonresidential construction market, which includes carbon steel tubing, plate, and structural products, represented about one-third of sales and showed strong growth [13] - The general manufacturing business also represented roughly one-third of total sales, with strong demand in industrial machinery and military sectors [15] Market Data and Key Metrics Changes - Demand in the nonresidential construction market remained solid, supported by data center construction and publicly funded infrastructure projects [14] - The aerospace sector saw stable demand, with commercial aerospace increasing sequentially and defense-related aerospace remaining strong [17] - The semiconductor industry faced pressure due to excess inventories, impacting shipments [19] Company Strategy and Development Direction - The company maintains a focus on growth and profitability, with a capital expenditure budget of $325 million for 2025, aiming for strategic acquisitions [6][31] - The management emphasized the importance of sourcing metal primarily from domestic producers, with over 95% of purchases made domestically [38] - The company is exploring opportunities for value-added processing and fabrication to better serve customer needs [64] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic uncertainties, highlighting strong customer relationships and operational execution [46][90] - The outlook for Q2 2025 anticipates stable demand across diversified end markets, with tons sold expected to be down 1% to up 1% compared to Q1 2025 [31][32] - Non-GAAP earnings per diluted share for Q2 2025 are projected to be in the range of $4.50 to $4.70, inclusive of LIFO expense [33] Other Important Information - The company funded stockholder return activities totaling $318 million, including a 9.1% increase in quarterly dividends [7][28] - Share repurchases have resulted in a cumulative 2.3% reduction in total shares outstanding since December 31, 2024 [29] Q&A Session Summary Question: Discussion on exposure within COGS and CapEx related to imports impacted by tariffs - Management confirmed that over 95% of metal purchases are from domestic producers, resulting in limited exposure to imports [38] Question: Impact of tariffs on long-term CapEx decisions - Management indicated that while tariffs can influence decisions, the majority of sourcing remains domestic, and no major shifts in CapEx strategy are anticipated [41] Question: Customer conversations regarding reshoring activity - Management noted increased discussions with customers about reshoring, with some experiencing higher volumes due to domestic manufacturing growth [44] Question: Changes in LIFO assumptions for aerospace - Management stated that baseline assumptions regarding LIFO income for aerospace remain relatively unchanged [52] Question: Current inventory levels and restocking needs - Management reported that inventory levels are slightly above target, with strong relationships with domestic mills ensuring access to inventory [82] Question: General market conditions and performance amidst economic challenges - Management acknowledged macroeconomic challenges but emphasized the company's ability to grow and service customers effectively [90]

Reliance (RS) Q1 2025 Earnings Call April 24, 2025 11:00 AM ET Company Participants Kimberly Orlando - Senior Managing DirectorKarla Lewis - President & CEOStephen Koch - Executive VP & COOArthur Ajemyan - CFO & Senior VPJohn Tumazos - Owner and CEO Conference Call Participants Martin Englert - Senior Equity Research Analyst - Metals & MiningPhil Gibbs - Director, Metals Equity Research AnalystKatja Jancic - AnalystMike Harris - Analyst Operator Greetings, and welcome to the Reliance, Inc. First Quarter twe ...