Universal Health Services, Inc. (NYSE:UHS) Q4 2024 Earnings Call February 27, 2025 10:00 AM ET Company Participants Steve Filton - Executive Vice President and Chief Financial Officer Marc Miller - Chief Executive Officer Conference Call Participants Andrew Mok - Barclays Ben Hendrix - RBC Capital Markets Ann Hynes - Mizuho Justin Lake - Wolfe Research Pito Chickering - Deutsche Bank Joanna Gajuk - Bank of America Stephen Baxter - Wells Fargo Sarah James - Cantor Fitzgerald AJ Rice - UBS Michael Ha - Baird ...

Ambac Financial Group, Inc. (NYSE:AMBC) Q4 2024 Earnings Conference Call February 27, 2025 8:30 AM ET Company Participants Charles Sebaski - Managing Director and Head of Investor Relations Claude LeBlanc - President and Chief Executive Officer David Trick - Chief Financial Officer Conference Call Participants Deepak Sarpangal - Repertoire Partners LP Operator Ladies and gentlemen, good morning, and welcome to the Ambac Financial Group Fourth Quarter 2024 Earnings Conference Call. At this time, all particip ...

Kinetik (KNTK) Q4 2024 Earnings Call February 27, 2025 09:00 AM ET Company Participants Alex Durkee - Head of IRJamie Welch - President & CEOTrevor Howard - Senior VP & CFOSpiro Dounis - DirectorKris Kindrick - Senior Vice President, CommercialMichael Blum - Managing DirectorKeith Stanley - DirectorJohn Mackay - VP - Equity ResearchGabriel Moreen - Managing Director Conference Call Participants Jeremy Tonet - ED - Equity Research AnalystNeel Mitra - AnalystTheresa Chen - Senior Analyst Operator Good morning ...

31 ALLY Robotic Cataract Laser Systems™ placed in Q4 2024, representing an 86% increase in ALLY placements in full year 2024 over 2023; Company’s total installed systems increased to approximately 385 as of December 31, 2024, representing a 26% increase over 2023 Fourth quarter 2024 revenue increased 38% over fourth quarter 2023; Full-year revenue increased 27% over 2023 Recurring revenue exceeds $40 million for the full year; increased 23% over 2023 ORLANDO, Fla., Feb. 27, 2025 (GLOBE NEWSWIRE) -- LENSAR, ...

Financial Data and Key Metrics Changes - In 2024, Group revenue increased by 6.7% to $8.5 billion, and adjusted EBITDA also increased by 6.7% to $392 million, exceeding adjusted EBITDA guidance by $12 million [11][7][10] - Adjusted net income for the full year was $120.9 million, with adjusted diluted EPS increasing by 2.4% to $1.27 per share [11][27] - Net debt at the end of 2024 was $637 million, with net leverage at 1.6 times, indicating a strong financial position [12][10] Business Line Data and Key Metrics Changes - Fresh Fruit segment delivered adjusted EBITDA of $214.8 million for the full year, an increase of $5.9 million compared to 2023, driven by volume growth in bananas and plantains [12][13] - Diversified EMEA segment achieved adjusted EBITDA of $131.5 million for the full year, with a like-for-like revenue growth of 4.4% [16][17] - Diversified Fresh Produce Americas segment reported a like-for-like revenue increase of 16.1%, with adjusted EBITDA increasing by 52.3% for the full year [32][33] Market Data and Key Metrics Changes - North America saw good volume growth in bananas and plantains, while the European market experienced high volumes in bananas and lower shipping costs [13][14] - The EMEA segment faced headwinds due to supply challenges and weather events, but anticipates continued revenue growth in 2025 [17][16] - The Fresh Vegetables business showed positive cash flow for the full year, indicating a turnaround despite accounting adjustments [21] Company Strategy and Development Direction - The company is focused on capital allocation and managing invested capital, with strategic investments in expanding shipping capacity and improving operational performance [8][10] - There is an ongoing process to determine the best strategic alternative for the vegetables business, which remains a priority [20][21] - The company plans to maintain a baseline level of capital expenditure in line with depreciation expenses, while exploring development opportunities for future growth [41][70] Management Comments on Operating Environment and Future Outlook - Management acknowledged challenges in 2025, including the impact of Tropical Storm Sara and geopolitical uncertainties affecting sourcing costs and supply chains [40][41] - The company aims for adjusted EBITDA in the range of $370 million to $380 million for 2025, reflecting a more normalized year compared to 2024 [41][38] - Management remains optimistic about the underlying fundamentals of the business and is focused on navigating challenges while capitalizing on growth opportunities [15][38] Other Important Information - The company declared a dividend of $0.08 for the fourth quarter, to be paid on April 3, 2025 [37] - Free cash flow from continuing operations was $180.3 million for the full year, benefiting from strong adjusted EBITDA performance [36] Q&A Session Summary Question: Can you unpack the EBITDA guidance for 2025? - Management indicated that the guidance reflects known headwinds, including the impact from Tropical Storm Sara and macroeconomic uncertainties, with expectations for a slower start to the year [45][49][54] Question: What mitigation strategies are in place regarding potential tariffs? - Management believes that the demand for fresh produce will remain strong, and they are prepared to adjust pricing and sourcing strategies if tariffs are implemented [56][58][60] Question: What is the focus on capital allocation moving forward? - The company is prioritizing leveraging while also considering targeted M&A opportunities, with ongoing internal development projects aimed at enhancing growth [65][70][72] Question: What are the expectations for the Diversified EMEA segment? - Management noted that while there are some profit weaknesses in certain regions, they see more opportunities than challenges and expect continued growth [75][76] Question: Is there a risk of elasticity in pricing for high-value products like avocados? - Management expressed confidence that the U.S. market will continue to demand these products, despite potential tariff impacts, due to limited domestic production capabilities [78][80]

Financial Data and Key Metrics Changes - For the full year of 2024, the company reported consolidated same-store net revenues of $11.2 billion and EBITDA of $3.7 billion, achieving an EBITDA margin of 33.2% [9][12][41] - In Q4, consolidated EBITDA was flat year-over-year, with same-store net revenues of $1.1 billion and adjusted EBITDA of $478 million, down 1% compared to the previous year [10][11][12] - The company utilized proceeds from non-core asset sales to repay $500 million in debt and repurchase $190 million worth of stock [20][41] Business Line Data and Key Metrics Changes - The Las Vegas segment reported same-store net revenues of $1.1 billion and adjusted EBITDA of $478 million, with margins at 44.4% [10][11] - The regional segment saw a 1% decline in net revenues and a 5% decline in adjusted EBITDA, although the rate of decline improved sequentially [11][12] - The digital segment achieved record net revenues of $1.2 billion, up 20% year-over-year, with adjusted EBITDA of $117 million compared to $38 million a year ago [15][16] Market Data and Key Metrics Changes - In Las Vegas, occupancy for the full quarter was 96%, slightly down from the previous year [11] - The iGaming segment experienced a 65% net revenue growth in Q4, driven by improved product offerings [16] - The sports betting segment saw a decline in net revenue due to customer-friendly outcomes, although the overall volume declined slightly as the company limited activity in unprofitable segments [17][18] Company Strategy and Development Direction - The company concluded a significant capital investment cycle that began with the merger in July 2020, with expectations of increased free cash flow in 2025 and 2026 [13][14] - The company plans to continue focusing on improving both brick-and-mortar properties and digital offerings to drive growth [14][40] - There is a strategic consideration to explore ways to unlock value within the digital segment, potentially allowing for a pure-play investment opportunity [50][52] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the performance of newly opened properties in New Orleans and Virginia, expecting strong results in 2025 [12][30] - The company anticipates that competitive pressures in regional markets will lessen, leading to improved performance [25][35] - Management noted that the Las Vegas market is expected to remain stable, with group business increasing significantly in 2025 and 2026 [37][68] Other Important Information - The company is focused on reducing leverage while also engaging in stock buybacks, with a target of reaching lease-adjusted leverage toward four times [57][58] - Management highlighted the importance of maintaining a strong customer base and improving customer experience across both digital and physical platforms [75][100] Q&A Session Summary Question: Guidance for 2025 expenses in Las Vegas and regionals - Management indicated a smaller increase in labor costs for 2025 and emphasized efficiency in operations [46][47] Question: Monetization of the digital segment - Management acknowledged the need to build the business value and explore strategic options to unlock value for shareholders [50][52] Question: Stock buybacks and leverage reduction - Management confirmed that the majority of free cash flow would be directed towards debt pay down, with stock buybacks occurring in asset sale transactions [58][60] Question: Las Vegas market growth drivers - Management noted that increased yield from room products and new food and beverage offerings would drive growth in Las Vegas [67][68] Question: iGaming growth drivers - Management highlighted that growth in iGaming is primarily driven by the standalone apps and customer acquisition strategies [73][75] Question: Regulatory landscape for digital gaming - Management described the current regulatory environment as a headline cycle, with potential for more iCasino jurisdictions in the future [82][84] Question: Changes in sports betting handle - Management explained that the decline in sports betting handle was due to strategic changes in customer reinvestment and targeting [115][116] Question: Trends in high-limit slot play - Management observed growth in high-limit slot play, attributing it to improved customer engagement and property enhancements [120][123]

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Q4 2024 Earnings Conference Call February 25, 2025 5:30 PM ET Company Participants Joseph Fridman - Director, Communications and Corporate Affairs Jason Kelly - Founder, CEO & Director Mark Dmytruk - CFO Jason Kelly - Founder, CEO & Director Conference Call Participants Jason Lai - Morgan Stanley Evie Kslosky - Goldman Mark Massaro - BTIG Brendan Smith - TD Cowen Matt Larew - William Blair & Company Joseph Fridman Good evening. I'm Joseph Fridman, Director of Comm ...

Caesars Entertainment, Inc. (NASDAQ:CZR) Q4 2024 Earnings Conference Call February 25, 2025 5:00 PM ET Company Participants Brian Agnew - SVP, Corporate Finance, Treasury and IR Anthony Carano - President and COO Eric Hession - President, Caesars Sports and Online Gaming Bret Yunker - CFO Thomas Reeg - CEO Conference Call Participants Carlo Santarelli - Deutsche Bank David Katz - Jefferies Brandt Montour - Barclays Daniel Politzer - Wells Fargo Steven Wieczynski - Stifel Barry Jonas - Truist John DeCree - C ...

BRP Group (BWIN) Q4 2024 Earnings Call February 25, 2025 05:00 PM ET Company Participants Bonnie Bishop - Executive Director of Investor RelationsTrevor Baldwin - Chief Executive OfficerBrad Hale - Chief Financial OfficerElyse Greenspan - Managing DirectorGregory Peters - Managing Director - Equity ResearchPablo Singzon - Executive DirectorTommy McJoynt-Griffith - Director Conference Call Participants Joshua Shanker - Research Analyst Operator Greetings, and welcome to the Baldwin Group Fourth Quarter twent ...

Delek Logistics Partners (DKL) Q4 2024 Earnings Call February 25, 2025 12:30 PM ET Company Participants Robert Wright - SVP & Deputy CFOAvigal Soreq - President and CEOMark Hobbs - EVP & CFOReuven Spiegel - EVP - Special ProjectsNeal Dingmann - Managing Director - Energy Research Conference Call Participants Doug Irwin - Equity Research Analyst Operator Thank you for standing by. My name is Jaylen, and I will be your conference operator today. At this time, I would like to welcome everyone to the DKL Fourth ...