Brookfield Business Partners (BBU) Q1 2025 Earnings Call May 02, 2025 10:00 AM ET Company Participants Alan Fleming - MD & Investor RelationsAnuj Ranjan - Chief Executive OfficerAdrian Letts - Managing Partner of Private Equity & Head of Business OperationsJaspreet Dehl - Managing Partner of Private Equity & Chief Financial OfficerDevin Dodge - Director - Equity Research Conference Call Participants Gary Ho - Research Analyst - Financial ServicesJaeme Gloyn - Equity Research AnalystNik Priebe - Equity Resea ...

Brookfield Business Partners (BBU) Q1 2025 Earnings Call May 02, 2025 10:00 AM ET Company Participants Alan Fleming - MD & Investor RelationsAnuj Ranjan - Chief Executive OfficerAdrian Letts - Managing Partner of Private Equity & Head of Business OperationsJaspreet Dehl - Managing Partner of Private Equity & Chief Financial OfficerDevin Dodge - Director - Equity Research Conference Call Participants Gary Ho - Research Analyst - Financial ServicesJaeme Gloyn - Equity Research AnalystNik Priebe - Equity Resea ...

Financial Data and Key Metrics Changes - First quarter adjusted EBITDA was $591 million, an increase from $544 million in the prior period [16] - Adjusted EFO for the quarter was $345 million, which included a $114 million net gain from the sale of an offshore oil services operation [16] Business Line Data and Key Metrics Changes - The Industrial segment generated adjusted EBITDA of $304 million, benefiting from $72 million in tax benefits and contributions from a newly acquired electric heat tracing manufacturer [16] - The Business Service segment's adjusted EBITDA was CAD 213 million, up from CAD 205 million in 2024, driven by strong performance in residential mortgage insurance and improved project execution in construction [17] - The Infrastructure Services segment's adjusted EBITDA was $104 million, down from $143 million in the same quarter last year, impacted by the sale of offshore oil services [18] Market Data and Key Metrics Changes - Demand for advanced batteries in the advanced energy storage operation increased, contributing positively to results [17] - The company noted some demand headwinds in parts of Europe and softness in discretionary demand [14] Company Strategy and Development Direction - The company aims to own market-leading businesses and enhance their performance and cash flows, focusing on capital recycling and strategic acquisitions [4][5] - The strategy includes investing in areas like relocalization and digitalization, with a strong emphasis on the U.S. market as an attractive destination for capital [6][7] - The company is positioned to take advantage of growth opportunities and has recently agreed to acquire Antilia Scientific, a manufacturer of critical lab consumables [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating economic cycles and adapting to changes, despite potential impacts from tariffs and global growth downturns [5][11] - The company is preparing for a more uncertain outlook over the next 12 to 18 months, while recognizing the resilience of its businesses [14][15] Other Important Information - The company ended the quarter with approximately CAD 2.3 billion in liquidity at the corporate level, allowing for continued buybacks and strategic investments [19] - A $250 million repurchase program was launched, with $140 million already returned to shareholders [4][19] Q&A Session Summary Question: Impact of tariffs on Dexco's EBITDA - Management indicated that while there are signs of recovery in North America, the market remains muted, and they are managing costs effectively to improve margins [22][23] Question: Status of Clarios' tax filing - Management confirmed that there are no changes in views regarding tax credits, and the tax return for 2024 is being processed normally [24][25] Question: Plans for returning capital to shareholders - The company is exploring monetization opportunities and may consider a larger share buyback program, depending on market conditions [26][28] Question: Realignment at Scientific Games - Management highlighted significant opportunities in digitizing the lottery ecosystem and has appointed a new head of digital to drive this initiative [32][33] Question: Participation in Barclays payments business - The company confirmed participation in the Barclays investment, aligning with its strategy in financial infrastructure [35][36] Question: Performance of Unidos in Brazil - The fleet management side of Unidos is performing well, with stable pricing, while the car rental side is also doing fine despite rising interest rates [46][49]

Financial Data and Key Metrics Changes - Sales increased by 112% organically, driven by the infrastructure vertical, with new products contributing over two points to sales growth [9] - Adjusted operating income grew by 4% year over year, with a return on sales of 20% [9] - Adjusted EPS increased by 10%, and free cash flow grew by 32% [9][15] Business Line Data and Key Metrics Changes - Systems Protection segment sales increased by 16%, driven by the Track D acquisition, while organic sales were flat [16] - Electrical Connections segment sales rose by 3%, with organic sales up by 4% [18] - Infrastructure sales grew in the mid-teens, with strength in Data Solutions and Power Utilities [10][16] Market Data and Key Metrics Changes - The Americas experienced low single-digit sales decline, while Europe was flat and Asia Pacific grew in the high teens [10][16] - Organic orders were up in the mid-teens, with strong double-digit growth in Data Solutions [11][68] Company Strategy and Development Direction - The company is focused on portfolio transformation, having divested the Thermal Management business and acquired the AVAIL Electrical Products Group [8][28] - The infrastructure vertical is expected to account for over 40% of sales, with Data Solutions and Power Utilities each contributing approximately 20% [29][30] - The company is prioritizing growth through new products, acquisitions, and capacity expansion [11][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong sales growth in the second half of the year, particularly in infrastructure and data solutions [11][24] - The company is taking steps to mitigate tariff impacts through pricing, productivity, and supply chain actions [11][25] - Overall, management is optimistic about the company's positioning in the electrification, sustainability, and digitalization trends [35] Other Important Information - The company ended the quarter with over $1.3 billion in cash and repaid $390 million of term loans [21] - A quarterly dividend increase of 5% was announced, with significant capital returned to shareholders through share repurchases [23] Q&A Session Summary Question: Comments on the data solutions business and order pace - Management noted strong double-digit growth in data solutions, with a growing backlog providing visibility into the second half [41][42] Question: Contribution and synergies from recent acquisitions - Management confirmed that the AVAIL acquisition will contribute a nickel to EPS and highlighted potential cost synergies from both AVAIL and Track D [52][46] Question: Organic sales outlook and confidence in second half acceleration - Management indicated strong orders and backlog in data solutions and power utilities, expecting growth to accelerate in the second half [57][58] Question: Impact of tariffs on margins - Management expects first half margins to be impacted by tariffs, with a positive flip in the second half as pricing and productivity measures take effect [61][62] Question: Clarification on tariff impacts and pricing strategies - Management stated that the tariff impact is primarily from steel and aluminum, and they are actively managing pricing through various strategies [92][105] Question: Insights on the power utility segment - Management highlighted that power utilities now represent about 20% of sales, with strong growth expected from recent acquisitions [95][96]

nVent Electric (NVT) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Company Participants Tony Riter - VP-IRBeth Wozniak - Chair & CEOSara Zawoyski - President - Systems ProtectionGary Corona - EVP & CFODeane Dray - Managing DirectorBrian Drab - Co-Group Head–IndustrialsJoe Ritchie - Managing DirectorJeffrey Sprague - Founder and Managing PartnerNigel Coe - Managing Director Conference Call Participants Julian Mitchell - Equity Research AnalystNicole Deblase - Lead AnalystVlad Bystricky - AnalystScott Graham ...

Leading global automotive and industrial supplier continues product development modernization with transition to cloud-based Windchill+ PLM Windchill+ offers speed of deployment, upgrade, and collaboration benefits to help customers accelerate development time PTC and Schaeffler expect to collaborate on AI-driven product development initiatives BOSTON, April 30, 2025 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced that Schaeffler, a leading motion technology company, will adopt PTC's Windchill+® product ...

Core Viewpoint - Hepsiburada, a leading Turkish e-commerce platform, has filed its annual report for the fiscal year ended December 31, 2024, with the SEC, highlighting its ongoing commitment to transparency and investor relations [1]. Company Overview - Hepsiburada operates as a hybrid e-commerce platform combining first-party direct sales and a third-party marketplace, featuring approximately 100,000 merchants [3]. - The company aims to lead the digitalization of commerce in Türkiye, providing a wide range of services including last-mile delivery, fulfillment services, advertising solutions, cross-border sales, payment services, and affordability solutions [4]. Financial Reporting - The annual report includes audited consolidated financial statements and is available for shareholders and ADS holders upon request [2]. Social Impact - Since its inception in 2000, Hepsiburada has focused on empowering women in the Turkish economy, notably through its 'Technology Empowerment for Women Entrepreneurs' program, which has supported around 61,000 female entrepreneurs [5].

Financial Data and Key Metrics Changes - Total revenue for 2024 was $441,900,000, an increase of 21.5% from $363,700,000 in 2023 [28] - Adjusted EBITDA increased by 492% to $9,800,000 for 2024 compared to $1,600,000 in the prior year [32] - Operating costs and expenses rose to $500,300,000 in 2024 from $379,200,000 in 2023 [30] Business Line Data and Key Metrics Changes - Auto insurance revenue increased by 44.4% to $170,500,000 in 2024 from $118,100,000 in 2023, driven by strong partnerships and increased policy sales [29] - Technology services revenue grew by 46.4% to $44,900,000 in 2024, up from $30,700,000 in the previous year [29] - Auto services revenue increased by 5.3% to $226,500,000 in 2024 from $215,000,000 in 2023 [30] Market Data and Key Metrics Changes - The company is focused on digitalizing China's domestic auto insurance and services markets, targeting over 330 million drivers who still purchase insurance offline [6] - The partnership with Tesla expanded to 48 cities from six earlier in the year, indicating significant market penetration [8][20] - The gas vehicle market remains larger than the EV market, presenting a substantial growth opportunity for the company [8][45] Company Strategy and Development Direction - The company aims to leverage AI and cloud technology to enhance operational efficiency and customer experience [26][34] - There is a strong focus on developing customized insurance products and enhancing partnerships with auto manufacturers [20][27] - The company is committed to remaining a technology leader in the market, utilizing AI extensively to improve service efficiency [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the insurance business and the positive impact of AI on operations and profitability [41][42] - The ongoing digitalization trend in China's auto insurance market is seen as a significant opportunity for the company [12][19] - Management highlighted the importance of partnerships with EV manufacturers to enhance customer engagement and service offerings [19][37] Other Important Information - The company has invested approximately $100,000,000 in industry-specific cloud, AI, mobile apps, and data infrastructure [37] - The company has secured a two-year agreement with SAIC Maxis to enhance insurance sales management across its dealership network [21] - The company plans to issue guidance with its first quarter 2025 earnings release, subject to market conditions [48] Q&A Session Summary Question: What impact if any will U.S. Tariffs have on SunCar's business? - Management does not expect U.S. Tariffs to have a material direct impact as the business is focused on China's domestic market [36] Question: Why have so many EV manufacturers been interested in partnering with SunCar? - The company's long-standing market presence and significant investment in technology have created a differentiated solution that meets evolving needs [37] Question: How do you see your Tesla relationship evolving over time? - Tesla is viewed as a strong partner in expanding the portfolio of insurance products and enhancing service delivery [38] Question: What do you attribute the rapid growth of your insurance business to? - Differentiation and the need for manufacturers to monetize customer relationships beyond vehicle sales are key factors [39] Question: How do you view your profitability tracking over the next year? - Continued strong growth in the insurance business is expected to contribute positively to profitability [41] Question: How do you view AI impacting your business in 2025? - AI has been significantly impactful, with plans to integrate it into more features to optimize customer experience [43] Question: How impactful will gas vehicle customers be on your insurance business this year? - The gas vehicle market is larger and is increasingly adopting digital solutions, which is expected to drive significant business [44] Question: What do you see as the future of your Angi AI technology services center? - The center will play a critical role in innovating new insurance products and enhancing collaboration with auto partners [46] Question: What do you see as the most exciting aspect of your services business? - New customer segments such as retail and luxury present exciting growth opportunities [47] Question: Will you be issuing guidance this year? - Guidance is planned to be issued with the first quarter 2025 earnings release [48] Question: Do you expect it will be another large employee stock compensation expense this year? - No, the previous year's expense was a one-time event and not expected to recur [49]

21世纪经济报道记者王峰 北京报道 "预备，开始！"随着电子播报员的指令，学生下蹲、起跳、腾空、落地。 "2米03！"跳远成绩立即被语音系统现场播报，同时实时上传到体育老师的教师机上，这是天津市第二 新华中学体育课上的场景。 越来越多的中小学接入DeepSeek，人工智能正在深刻改变基础教育。 今年4月，教育部等九部门印发的《关于加快推进教育数字化的意见》提出，全面推进智能化，促进人 工智能助力教育变革。4月27日，教育部召开全国基础教育综合改革试点暨优化资源配置现场推进会。 会议强调，加快构建数字化战略支撑体系，赋能基础教育高质量发展。 近日，由中国教育装备行业协会等单位联合主办的AI赋能基础教育教学变革学术交流大会暨第五届教 育装备学术大会召开。大会从政策导向、行业趋势、技术赋能等维度，深入探讨人工智能如何重塑基础 教育生态。 基础教育必须拥抱人工智能 中国教育装备行业协会会长靳诺指出，人工智能赋能基础教育不仅仅是技术的简单应用，而是教育理 念、教育模式、学习方式的全方位革新。 "回顾过去，从传统的黑板、粉笔到现代的多媒体教室、智能教学设备，每一次技术革新都为教育教学 注入了新的活力与可能性。当前，我们正 ...

Core Viewpoint - NaaS Technology Inc. has implemented a change in the ratio of its American depositary shares (ADSs) to Class A ordinary shares, effective April 28, 2025, which is expected to impact the trading price of the ADSs [1][2][3]. Company Overview - NaaS Technology Inc. is the first U.S.-listed EV charging service company in China and operates as a subsidiary of Newlinks Technology Limited, a prominent energy digitalization group in China [4]. - The company is recognized as a leading provider of new energy asset operation services, utilizing advanced technology to optimize the charging experience for electric vehicle users [4]. ADS Ratio Change - The ADS Ratio has changed from one ADS representing 200 Class A ordinary shares to one ADS representing 800 Class A ordinary shares, effectively resulting in a one-for-four reverse ADS split [2]. - The exchange of ADSs occurred automatically, with previously-held ADSs being cancelled and new ADSs issued by JPMorgan Chase Bank, N.A., the depositary bank for the company's ADS program [2]. Expected Impact - Following the change in the ADS Ratio, the trading price of the ADSs is anticipated to increase proportionally, although the company cannot guarantee that the new trading price will be at least four times the previous price [3].