Park-Ohio (PKOH) Q1 2025 Earnings Call May 07, 2025 10:00 AM ET Company Participants Matthew V. Crawford - Chairman, CEO & DirectorPatrick Fogarty - VP & CFOJacob Moore - Equity Research AssociateDave Storms - Director of Equity Research Operator Good morning, and welcome to Park Ohio First Quarter twenty twenty five Results Conference Call. At this time, all participants are in a listen only mode. After the presentation, the company will conduct a question and answer session. Today's conference is also bei ...

Kimball Electronics (KE) Q3 2025 Earnings Call May 07, 2025 10:00 AM ET Speaker0 Good morning, ladies and gentlemen, and welcome to the Kimball Electronics Third Quarter Fiscal twenty twenty five Earnings Conference Call. My name is Kevin, and I'll be your facilitator for today's call. All lines have been placed in a listen only mode to prevent any background noise. After the completion of the prepared remarks from the Kimball Electronics leadership team, there will be a question and answer session. Today's ...

Park-Ohio (PKOH) Q1 2025 Earnings Call May 07, 2025 10:00 AM ET Speaker0 Good morning, and welcome to Park Ohio First Quarter twenty twenty five Results Conference Call. At this time, all participants are in a listen only mode. After the presentation, the company will conduct a question and answer session. Today's conference is also being recorded. If you have any objections, you may disconnect at this time. Before we get started, I want to remind everyone that certain statements made on today's call may be ...

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $56.5 million for Q1 2025, marking a 4% sequential increase and a 6% year-over-year increase, driven by record volumes in produced water handling and water solutions [12] - Adjusted operating margin was $0.44 per barrel, reflecting the durability of operating improvements over the last 24 months [12] - Capital expenditures (CapEx) for the quarter were $21 million, down 44% compared to Q1 2024 [12] Business Line Data and Key Metrics Changes - Produced water volumes and water solution volumes grew by 7% sequentially compared to Q4 2024 [8] - The integration of McNeil Ranch into operations is ongoing, with several inbound opportunities being evaluated for additional revenue streams [9] Market Data and Key Metrics Changes - The company expects produced water volumes for Q2 2025 to be between 1.2 million and 1.25 million barrels per day, with water solutions volumes expected to be around 1 million barrels per day [13] - Adjusted operating margin for Q2 is projected to be between $0.41 and $0.43 per barrel, slightly down from Q1 due to well maintenance expenses and lower skim oil price realizations [14] Company Strategy and Development Direction - The company is focused on managing capital investments to align with customer activity levels and has a strong position due to long-term contracts in the Northern Delaware Basin [6][7] - Strategic efforts include beneficial reuse of water, industrial water treatment, and mineral extraction, with plans for a new iodine facility expected to be operational by early 2026 [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate volatility and uncertainty, citing strong customer relationships and a robust balance sheet [16] - There is ongoing dialogue with customers regarding the potential impact of commodity prices on their operations, but no immediate changes to the outlook have been observed [11] Other Important Information - The company successfully refinanced its senior notes, upsizing the offering to $500 million, and ended the quarter with net debt of $480 million and a liquidity of $372 million [15] - A quarterly dividend of $0.14 per share was declared, to be paid on June 18 to shareholders of record on June 5 [15] Q&A Session Summary Question: Expectations for water cuts and volumes if producers move to maintenance mode - Management indicated that they can flex capital expenditures down by 25% to 30% if customer volumes decrease, and water cuts will remain the same, impacting only volume [20][21][22] Question: Update on M&A activity - Management noted that while there is some discomfort in the market due to volatility, the bid-ask spread remains wide, and they are well-positioned to take advantage of opportunities [23][24][25] Question: Volume growth cadence and one-time impacts - Management confirmed that Q1 volumes were strong due to better-than-expected well performance and increased interruptible volumes, but future growth will depend on customer activity [28][29][30] Question: Capital allocation in a downside environment - The company remains committed to maintaining balance sheet strength and plans to continue dividend growth while having the flexibility to reduce capital expenditures if necessary [32][34] Question: Commercialization of McNeil Ranch - Management reported that McNeil Ranch is exceeding expectations with multiple inbound opportunities for monetization, including solar and battery projects [37][38][39] Question: Competitive landscape and impact of new pipelines - Management believes that their long-term contracts and large acreage dedication provide a competitive advantage, despite new pipeline announcements from competitors [50][51][52] Question: Update on beneficial reuse and industrial water treatment - Management confirmed ongoing progress in reducing costs for desalination and expanding applications for treated water, including potential data center uses [52][53][54] Question: Cost recovery for desalination - Management indicated that operational costs could potentially be below $1 per barrel, depending on the scale of operations [83] Question: Future M&A preferences - The company remains focused on core acquisitions but is also exploring smaller bolt-on opportunities, emphasizing discipline in evaluating potential targets [76][77][78]

Financial Data and Key Metrics Changes - The company recorded adjusted EBITDA of $56.5 million for Q1 2025, up 4% sequentially and 6% year-over-year, driven by record volumes in produced water handling and water solutions [12] - Adjusted operating margin was $0.44 per barrel, reflecting the durability of operating improvements over the last 24 months [12] - Capital expenditures (CapEx) were $21 million, down 44% compared to Q1 2024 [12] Business Line Data and Key Metrics Changes - Produced water volumes and water solution volumes grew 7% sequentially compared to Q4 2024 [7] - The first quarter represented the first full quarter integrating the McNeil Ranch into operations, with ongoing evaluations for additional revenue streams [7][9] Market Data and Key Metrics Changes - The company expects produced water volumes for Q2 2025 to be between 1.2 million and 1.25 million barrels per day, and water solutions volumes to be around 1 million barrels per day [13] - The current WTI price strip represents a $6 million to $8 million headwind to the business [13] Company Strategy and Development Direction - The company is focused on managing capital investments to align with customer activity levels and has a strong position due to long-term contracts in the Northern Delaware Basin [5][6] - There is an emphasis on beneficial reuse efforts and desalination of produced water for various applications, including reservoir replenishment and industrial use [9][10] - The company is exploring opportunities in industrial water treatment and mineral extraction, with plans for an iodine facility expected to be operational by early 2026 [10][12] Management's Comments on Operating Environment and Future Outlook - Management noted that while there is significant uncertainty around commodity prices and tariffs, the company is off to a strong start in 2025 and expects this strength to continue into Q2 [10][11] - The management team expressed confidence in their ability to manage through volatility and maintain free cash flow, even if customer activity levels decrease [17] Other Important Information - The company successfully refinanced senior notes, upsizing the offering to $500 million, and ended the quarter with net debt of $480 million and a liquidity of $372 million [14] - A dividend of $0.14 per share was declared for Q2 2025, to be paid on June 18 [14] Q&A Session Summary Question: Expectations for water cuts and volumes if producers move to maintenance mode - Management indicated that they can flex capital expenditures down by 25% to 30% if volumes decrease, and water cuts will remain the same, impacting volume rather than the cut itself [20][21][22] Question: Update on M&A activity and seller motivations - Management noted that while there is some discomfort in the market due to volatility, the bid-ask spread remains close, and they are well-positioned to take advantage of opportunities [23][24][26] Question: Volume growth cadence and one-time impacts in Q1 - Management confirmed that Q1 volumes were strong due to better-than-expected well performance and increased interruptible volumes, but future growth will depend on customer activity [30][31][32] Question: Capital allocation in a downside environment - The company remains committed to maintaining balance sheet strength and plans to continue dividend growth while having the ability to flex down capital expenditures if necessary [33][34][35] Question: Update on McNeil Ranch commercialization - Management reported that McNeil Ranch is exceeding expectations with multiple inbound opportunities for surface royalty activities and has already secured permits for disposal capacity [38][39][40] Question: Competitive landscape and impact of new pipelines - Management stated that new pipeline projects do not impact their competitive position due to long-term contracts and a large dedicated customer base [49][50][58] Question: Q2 guidance assumptions regarding interruptible volumes - Management indicated that Q2 guidance is primarily based on contracted volumes, with interruptible volumes viewed as a bonus [60][61] Question: Cost recovery for desalination and potential for iodine production - Management confirmed that operational costs for desalination could be below $1 per barrel, and they are evaluating the economics of iodine production based on the size of the facility [84][86]

Acushnet (GOLF) Q1 2025 Earnings Call May 07, 2025 08:30 AM ET Company Participants Sondra Lennon - VP - FP&A and IRDavid Maher - President & CEOSean Sullivan - Executive VP & CFOCarlos Gallagher - Senior Associate - Equity Research Conference Call Participants Megan Christine Alexander - AnalystJoseph Altobello - MD & Senior AnalystNone - AnalystNoah Zatzkin - Vice President & Equity Research Analyst Operator Good morning, all, and thank you for joining us for today's Acushnet Company First Quarter twenty ...

MasterCraft Boat (MCFT) Q3 2025 Earnings Call May 07, 2025 08:30 AM ET Company Participants Scott Kent - VP - Finance & Incoming CFOBrad Nelson - CEO & DirectorTim Oxley - Vice President, Chief Financial Officer, Treasurer and SecretaryMartin Mitela - Senior Equity Research AssociateAdam Fox - Equity Research AssociateEric Wold - Executive Director, Equity Research Conference Call Participants Craig Kennison - Director of Research Operations & Senior Research AnalystAnna Glaessgen - Senior Research Analyst ...

Financial Data and Key Metrics Changes - For Q3 2025, net sales were $76 million, a decrease of $8 million or 10% from the prior year, primarily due to lower unit sales volume, partially offset by a favorable mix [16][17] - Gross margin was 20.8%, down from 23.3% in the prior year, attributed to lower cost absorption from production decreases [17] - Adjusted net income for the quarter was $5 million or $0.30 per diluted share, compared to $8.5 million or $0.50 per diluted share in the prior year [18] - Adjusted EBITDA was $7.5 million, down from $11.7 million in the prior year, with an adjusted EBITDA margin of 9.9% compared to 13.9% [19] Business Line Data and Key Metrics Changes - Within the MasterCraft segment, production of the premium X Star model ramped up, contributing positively to brand momentum [8][13] - The pontoon segment, including Crest and Valise brands, faced challenges with dealer inventories, leading to a 40% year-over-year unit reduction [15] Market Data and Key Metrics Changes - Dealer inventories across brands decreased by 30% over the last year, and more than 45% compared to pre-pandemic levels in fiscal 2019 [9] - The company anticipates a modest impact from tariffs on fiscal 2025 costs, while closely monitoring demand implications [10] Company Strategy and Development Direction - The company is focused on disciplined cost, cash, and pipeline management, with a strong emphasis on product development and dealer support [8][12] - Capital allocation priorities remain disciplined, with a solid balance sheet and no debt, allowing for share repurchase programs to return capital to shareholders [11][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged persistent macroeconomic headwinds and tariff uncertainty affecting the marine sector, leading to a revision of full-year guidance [9][21] - Despite challenges, management remains confident in achieving inventory reduction targets and is optimistic about the upcoming selling season [9][22] Other Important Information - Tim Oxley, the CFO, will retire in June, with Scott Kent set to succeed him, reflecting careful succession planning [5][6] - The X Star model received the National Marine Manufacturers Association Innovation Award, highlighting the company's focus on quality and innovation [12] Q&A Session Summary Question: Can we quantify the tariff impacts and potential price increases for model year '26? - Management indicated that the impact of tariffs is evolving and has not yet determined specific pricing effects, but expects some inflationary impact [26] Question: How is retail performing, and does the previous down 5% to 10% estimate change? - Management expects retail to trend closer to 10% down, with more clarity expected in June [28] Question: What is the direct and indirect exposure to tariffs? - Management has discussions with suppliers to understand costs and expects a modest impact in Q4, with ongoing monitoring [33][34] Question: What is the status of dealer network expansion? - Management reported progress in expanding the dealer network, particularly in Texas and Utah, which are key markets [36] Question: How is the dealer network's balance sheet performing? - Management expressed satisfaction with dealer health, noting no significant dealer failures despite the challenging environment [38] Question: What is the early response to the Belize product? - Management anticipates net sales around $10 million for fiscal '25, with positive dealer interest and response [42][45] Question: Any trends observed at retail in April and May? - Management noted that while retail momentum is not yet vibrant, there are signs of improvement, particularly with premium buyers [51][52]

Revolve Group (RVLV) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Speaker0 Good morning, afternoon, evening. My name is Danica, and I will be your conference operator today. At this time, I would like to welcome everyone to Revolve's First Quarter twenty twenty five Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. Thank you. At this time, I'd like to turn the conference over to Eric Rander ...

Louisiana-Pacific (LPX) Q1 2025 Earnings Call May 06, 2025 11:00 AM ET Company Participants Aaron Howald - Vice President of Investor Relations and Business DevelopmentBrad Southern - Chair & CEOAlan Haughie - EVP & CFOKetan Mamtora - Director - Building Products Equity ResearchMichael Roxland - MD - Equity ResearchSteven Ramsey - Deputy Director of ResearchSean Steuart - Managing DirectorJeffrey Stevenson - Vice President Conference Call Participants Susan Maklari - Senior Equity Research AnalystMatthew Mc ...