2025.04.24 FIRST QUARTER EARNINGS CALL SAFE HARBOR Today's presentation includes forward-looking statements that reflect management's current expectations about the Company's future business and financial performance. These statements are subject to certain risks and uncertainties that could cause actual results to differ from anticipated results. Factors that could cause actual results to differ from anticipated results are identified in Item 1A of the Company's Form 10-K, and Item 1A of the most recent Qu ...

Core Viewpoint - Allegion plc reported strong first-quarter 2025 results, with adjusted earnings per share of $1.86, exceeding estimates and showing a 20% year-over-year increase [1] Revenue Details - Total revenues reached $941.9 million, a 5.4% increase year over year, surpassing the Zacks Consensus Estimate of $932 million [1][2] - Organic revenues grew by 4%, primarily driven by robust performance in the non-residential business in the Americas [1] - Acquired assets contributed 1.8% to revenue growth, while foreign exchange negatively impacted revenues by 3% [2] Segment Performance - Allegion Americas revenues increased by 6.8% year over year to $757.8 million, accounting for 80.5% of total revenues, exceeding estimates [2] - Organic revenues in this segment rose by 4.9%, supported by high-single-digit growth in non-residential businesses [2] - Allegion International revenues slightly declined by 0.3% year over year to $184.1 million, but organic revenues grew by 0.9% due to pricing [3] Margin Profile - Cost of revenues increased by 3.4% year over year to $519.4 million, while gross profit rose by 8% to $422.5 million, leading to a gross margin increase of 110 basis points to 44.9% [4] - Adjusted EBITDA grew by 12.2% year over year to $228.0 million, with a margin increase of 140 basis points to 24.2% [4] - Adjusted operating income increased by 14.1% year over year to $196.4 million, with an adjusted margin of 22.7%, up 150 basis points [5] Balance Sheet and Cash Flow - At the end of Q1 2025, Allegion had cash and cash equivalents of $494.5 million, down from $503.8 million at the end of 2024, while long-term debt slightly decreased to $1.97 billion [6] - The company generated net cash of $104.5 million from operating activities, more than doubling year over year, with available cash flow of $83.4 million [7] - Allegion repurchased shares worth $40.0 million and paid dividends totaling $43.6 million, reflecting a 3.6% year-over-year increase [7] 2025 Outlook - Allegion has reaffirmed its 2025 guidance, expecting revenue growth of 1-3% and organic revenue growth of 1.5-3.5% [9] - Adjusted earnings are projected to be between $7.65 and $7.85 per share, with available cash flow estimated at 85-90% of adjusted net income [9]

Core Viewpoint - Xcel Energy Inc. reported a decline in first-quarter 2025 operating earnings, missing consensus estimates due to increased operational costs and expenses [1][5]. Financial Performance - Operating earnings for Q1 2025 were 84 cents per share, down 4.5% from 88 cents in the same quarter last year [1][2]. - Total revenues reached $3.9 billion, slightly missing the consensus estimate of $3.92 billion but showing a 7.1% increase from $3.65 billion year-over-year [3]. - Operating income decreased by 2.9% year-over-year to $677 million [5]. Segment Performance - Electric segment revenues were $2.83 billion, up 5.6% from $2.68 billion in the prior year [4]. - Natural gas segment revenues increased by 12.1% to $1.05 billion from $0.94 billion year-over-year [4]. - Other revenues fell to $16 million from $23 million in the previous year [4]. Expense Analysis - Total operating expenses rose by 8.7% year-over-year to $3.23 billion, driven by higher electric fuel and purchased power costs, as well as increased operating and maintenance expenses [5]. - Interest charges and financing costs increased by 11.6% from $277 million to $309 million [6]. Customer Volume and Sales - Electric customer volume grew by 1.1%, while natural gas customer volume increased by 0.9% [6]. - Natural gas sales rose by 0.5%, and electric sales volume increased by 1.9% compared to the previous year [6]. Guidance and Future Outlook - Xcel Energy reaffirmed its 2025 earnings per share guidance in the range of $3.75-$3.85, with the consensus estimate at $3.81 [7]. - Retail electric sales are expected to increase by 3% in 2025, while natural gas sales volumes are anticipated to rise by 1% [7]. - The company plans to invest $45 billion from 2025 to 2029 to enhance its infrastructure [7]. Zacks Rank - Xcel Energy currently holds a Zacks Rank of 4 (Sell) [8].

The insurer's results reflect improved investment income, solid performances in the Title Insurance and Services and Home Warranty segments, partially offset by higher expenses. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Behind the Headlines First American Financial Corporation (FAF) reported first-quarter 2025 operating income per share of 84 cents, which beat the Zacks Consensus Estimate by 29.2%. The bottom line surged 86.7% year over year. Operating revenues of $1.5 billio ...

Core Insights - Civista Bancshares (CIVB) reported revenue of $40.63 million for Q1 2025, a year-over-year increase of 10.2% and exceeding the Zacks Consensus Estimate of $40.09 million by 1.37% [1] - The company achieved an EPS of $0.66, up from $0.41 a year ago, representing a surprise of 32% compared to the consensus estimate of $0.50 [1] Financial Performance Metrics - Net interest margin (tax equivalent) was reported at 3.5%, surpassing the average estimate of 3.4% from two analysts [4] - The efficiency ratio (non-GAAP) stood at 64.9%, significantly better than the average estimate of 72.1% [4] - Net interest income reached $32.77 million, exceeding the average estimate of $31.52 million [4] - Net gain on sale of loans was $0.60 million, below the average estimate of $1.15 million [4] - Total noninterest income was reported at $7.86 million, slightly below the average estimate of $8.01 million [4] Stock Performance - Shares of Civista Bancshares have returned +5.4% over the past month, contrasting with the Zacks S&P 500 composite's -5.1% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Insights - Bread Financial Holdings (BFH) reported a revenue of $970 million for the quarter ended March 2025, reflecting a decrease of 2.1% year-over-year, while EPS increased to $2.86 from $2.73 in the previous year, indicating a positive trend in earnings despite revenue decline [1] - The revenue exceeded the Zacks Consensus Estimate by 1.28%, while the EPS surpassed the consensus estimate by 36.19%, suggesting stronger-than-expected performance in earnings [1] Financial Performance Metrics - Efficiency Ratio stood at 49.1%, better than the average estimate of 52.4% from three analysts [4] - Net Interest Margin was reported at 18.1%, slightly above the estimated 17.8% [4] - Total Risk-based Capital Ratio was 15.5%, exceeding the average estimate of 14.2% [4] - Common equity tier 1 Capital Ratio was 12%, below the estimated 12.8% [4] - Total interest income reached $1.23 billion, slightly below the average estimate of $1.25 billion [4] - Interest on cash and investment securities was $46 million, lower than the estimated $49.26 million [4] - Interchange revenue was reported at -$83 million, better than the estimated -$96.84 million [4] - Interest and fees on loans totaled $1.19 billion, slightly below the estimate of $1.20 billion [4] - Net interest income matched the average estimate of $1.01 billion [4] - Total non-interest income was -$36 million, outperforming the estimate of -$51.58 million [4] - Other Non-Interest Income was $47 million, exceeding the estimated $44.74 million [4] Stock Performance - Shares of Bread Financial have returned -7% over the past month, compared to a -5.1% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market [3]

The reported revenue represents a surprise of -0.61% over the Zacks Consensus Estimate of $111.12 million. With the consensus EPS estimate being $0.54, the EPS surprise was +11.11%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Since these metrics play a crucial role in drivin ...

Group 1 - CMS Energy reported $2.45 billion in revenue for Q1 2025, a year-over-year increase of 12.5% [1] - The EPS for the same period was $1.02, compared to $0.97 a year ago, with a consensus EPS estimate of $1.05, resulting in an EPS surprise of -2.86% [1] - The reported revenue exceeded the Zacks Consensus Estimate of $2.24 billion by 9.04% [1] Group 2 - Key metrics indicate that CMS Energy's shares returned +0.3% over the past month, while the Zacks S&P 500 composite declined by -5.1% [3] - CMS Energy holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3] Group 3 - NorthStar Clean Energy's operating revenue was $99 million, surpassing the three-analyst average estimate of $72.24 million, reflecting a year-over-year change of +25.3% [4] - Consumers Energy (Electric+Gas) reported operating revenue of $2.35 billion, exceeding the three-analyst average estimate of $2.17 billion [4] - The Gas utility segment generated $1.05 billion in operating revenue, above the two-analyst average estimate of $1.01 billion, marking a year-over-year change of +8.7% [4] - The Electric utility segment reported $1.30 billion in operating revenue, compared to the estimated $1.17 billion, representing a +14.8% change year-over-year [4]

Core Insights - Ameriprise Financial Services (AMP) reported $4.31 billion in revenue for Q1 2025, a year-over-year increase of 5.1%, with an EPS of $9.50 compared to $8.39 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $4.38 billion by -1.68%, while the EPS exceeded the consensus estimate of $9.12 by +4.17% [1] Financial Performance Metrics - Total Assets Under Administration were reported at $314.06 million, slightly below the average estimate of $316.39 million [4] - Total Assets Under Management and Administration stood at $1.49 billion, matching the average estimate [4] - Net investment income revenues were $868 million, exceeding the average estimate of $843.40 million, but reflecting a year-over-year decline of -3.7% [4] - Premiums, policy and contract charges revenues were $360 million, below the estimated $390.76 million, marking a -7.7% change year-over-year [4] - Management and financial advice fees revenues were $2.60 billion, slightly below the average estimate of $2.64 billion, but showing a year-over-year increase of +8.5% [4] - Distribution fees revenues were $522 million, compared to the average estimate of $533.44 million, reflecting a +3.2% year-over-year change [4] - Asset Management revenues were reported at $846 million, below the average estimate of $881.58 million, indicating a -1.1% year-over-year change [4] - Advice and Wealth Management Distribution fees revenues were $613 million, compared to the average estimate of $625.44 million, showing a +2.5% year-over-year change [4] Stock Performance - Ameriprise shares have returned -6.6% over the past month, underperforming the Zacks S&P 500 composite's -5.1% change [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance in the near term [3]

Core Insights - Old Second Bancorp (OSBC) reported revenue of $73.11 million for Q1 2025, a 4% year-over-year increase, and an EPS of $0.45, down from $0.47 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $70.55 million by 3.62%, while the EPS fell short of the consensus estimate of $0.46 by 2.17% [1] Financial Performance Metrics - Efficiency Ratio stood at 56.5%, better than the average estimate of 57.2% from three analysts [4] - Net Interest Margin was reported at 4.9%, surpassing the average estimate of 4.6% [4] - Total noninterest income was $10.20 million, below the average estimate of $10.55 million [4] - Net Interest Income (TE) reached $63.25 million, exceeding the average estimate of $60.65 million [4] - Net gain on sales of mortgage loans was $0.46 million, slightly above the average estimate of $0.40 million [4] Stock Performance - Shares of Old Second Bancorp have declined by 9.8% over the past month, compared to a 6.6% decline in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]