UMB Financial (UMBF) Q1 2025 Earnings Call April 30, 2025 09:30 AM ET Company Participants Kay Gregory - IRMariner Kemper - Chairman & CEORam Shankar - Executive VP & CFOChristopher Mcgratty - MD & Head of U.S. Bank ResearchDavid Long - Managing DirectorJared Shaw - Managing DirectorTimur Braziler - Director - Mid-Cap Bank Equity ResearchBrian Wilczynski - Vice President - Equity ResearchJon Arfstrom - Managing Director - Associate Director of US ResearchJames Rine - President Conference Call Participants A ...

Core Viewpoint - The company reported higher earnings in Q1 2025, driven by improved gross profit, particularly in the Air & Sea division, despite facing market uncertainties related to global trade [2][4][7]. Financial Performance - Revenue for Q1 2025 was DKK 41,680 million, an increase from DKK 38,340 million in Q1 2024 [3]. - Gross profit rose to DKK 10,991 million, up 6.2% from DKK 10,265 million in the previous year [3][4]. - Operating profit (EBIT) before special items increased by 4.8% to DKK 3,860 million compared to DKK 3,641 million in Q1 2024 [3][4]. - Profit for the period improved to DKK 2,812 million from DKK 2,393 million year-on-year [3]. - Adjusted earnings for the period were DKK 2,874 million, up from DKK 2,463 million [3]. - Adjusted free cash flow surged to DKK 3,165 million from DKK 443 million in Q1 2024 [3][7]. Segment Performance - The Air & Sea division reported a gross profit increase of 9.5%, with EBIT before special items growing by 10.6% compared to the same period last year [5][7]. - Sea freight volumes grew by 3% year-on-year, aligning with estimated market growth, while air freight volumes remained stable [5]. - The Road segment experienced lower EBIT before special items due to weaker market conditions and cost inflation, although earnings improved sequentially from Q4 2024 [6][7]. - Solutions segment saw a revenue growth of 4.9% and a gross profit increase of 6.7%, but EBIT before special items decreased by 6.3% due to higher costs [9]. Strategic Developments - The completion of the Schenker acquisition marks a significant milestone in the company's growth strategy, expected to enhance its position in the transport and logistics sector [2][7]. - Full-year 2025 guidance for EBIT before special items has been upgraded to DKK 19.5-21.5 billion, reflecting the anticipated contribution from Schenker [7][14]. - Annual synergies from the Schenker integration are estimated at DKK 9.0 billion by the end of 2028, with total transaction and integration costs expected to be around DKK 11.0 billion [12][14]. Outlook - The company will include Schenker in its consolidated results starting May 1, 2025, with an update on integration expected in the H1 interim financial report [10]. - The effective tax rate is projected to remain at approximately 24% [14].

Core Viewpoint - DSV A/S has successfully completed the acquisition of DB Schenker, establishing a significant player in the global transport and logistics industry with an enterprise value of approximately DKK 106.7 billion (EUR 14.3 billion) [1][5]. Company Overview - The acquisition aligns with DSV's growth strategy, leveraging similarities in business models and services between DSV and Schenker to create operational synergies and enhance customer relationships [2][4]. - The combined entity is projected to have a pro forma revenue of approximately DKK 310 billion and a workforce of nearly 160,000 employees across more than 90 countries [3]. Financial Impact - The equity value of the transaction is approximately DKK 86.5 billion (EUR 11.6 billion), with transaction multiples of 0.75x EV/revenue and 13.0x EV/EBIT based on Schenker's 2024 financials [5]. - Annual synergies from the integration are estimated to reach DKK 9.0 billion by the end of 2028, primarily from consolidating operations and back-office functions [6]. - The transaction is expected to be EPS accretive by 2026, with ambitions to lift operating margins to DSV's levels by 2028 [7]. Capital Structure - DSV raised approximately DKK 75.0 billion (EUR 10.0 billion) through equity and bond issuances to finance the acquisition, with the remaining costs covered by cash and credit facilities [9]. - The pro forma financial gearing ratio is expected to be around 3.0x at the completion of the transaction, with a target to return to below 2.0x by H1 2027 [10][11]. Governance and Outlook - Jochen Thewes, the current CEO of Schenker, is intended to be nominated for DSV's Board of Directors [12]. - The acquisition's preliminary impact is included in DSV's upgraded outlook for 2025, with expected EBIT before special items in the range of DKK 19.5-21.5 billion [18].

1Q 2025 Earnings APRIL 29, 2025 All forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement. 2 1Q 2025 Earnings Forward-Looking Statements reduced demand for natural gas, oil, and natural gas liquids ("NGLs"); negative public perception of our industry; competition in the natural gas and oil exploration and production industry; the volatility of natural gas, oil and NGL prices, which are affected by general economic and business conditions, as wel ...

Six Flags Entertainment (SIX) Q4 2024 Earnings Call February 27, 2025 10:00 AM ET Company Participants Michael Russell - Corporate Director of Investor RelationsRichard Zimmerman - President & CEOBrian Witherow - CFOSteven Wieczynski - Managing DirectorMichael Swartz - Director - Equity ResearchDavid Katz - Managing DirectorLizzie Dove - Vice President Equity ResearchIsaac Sellhausen - Director - Equity Research Conference Call Participants James Hardiman - Director - Leisure and Travel AnalystMatt Boss - E ...

Six Flags Entertainment posted revenue growth from its Cedar Fair merger despite missing EPS forecasts.Six Flags Entertainment (FUN -2.84%), a national amusement park company, disclosed its fourth-quarter 2024 earnings on Feb. 27, 2025, demonstrating growth but also missing crucial financial forecasts. A significant merger with Cedar Fair completed last year contributed to increased attendance and a sharp rise in revenue to $687 million from $371 million in the previous year. However, this still fell short ...

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