Select Medical (SEM) Q4 2024 Earnings Call February 21, 2025 09:00 AM ET Company Participants Robert Ortenzio - Co-Founder & Executive ChairmanMartin Jackson - Senior Executive Vice President of Strategic Finance & OperationsBen Hendrix - Equity Research - Healthcare Services and Managed Care Conference Call Participants Justin Bowers - AnalystJoanna Gajuk - Equity Research Analyst Operator Good morning, and thank you for joining us today for Select Medical Holdings Corporation's Earnings Conference Call to ...

Codere Online Luxembourg, S.A. (NASDAQ:CDRO) Q4 2024 Earnings Call Transcript February 20, 2025 8:30 AM ET Company Participants Guillermo Lancha - Head of Investor Relations Aviv Sher - Chief Executive Officer Oscar Iglesias - Chief Financial Officer Conference Call Participants Jeffrey Stantial - Stifel Ryan Sigdahl - Craig-Hallum Capital Group Michael Kupinski - Noble Capital Markets Operator Good morning and welcome to Codere Online Fourth Quarter 2024 Results Conference Call. All lines have been placed ...

Oceaneering International, Inc. (NYSE:OII) Q4 2024 Earnings Conference Call February 20, 2025 11:00 AM ET Company Participants Hilary Frisbie – Senior Director-Investor Relations Rod Larson – President and Chief Executive Officer Alan Curtis – Senior Vice President and Chief Financial Officer Conference Call Participants Eddie Kim – Barclays Kurt Hallead – Benchmark Company Josh Jayne – Daniel Energy Partners Desiree Welcome to Oceaneering's fourth quarter and full year 2024 earnings conference call. My nam ...

Kaiser Aluminum (KALU) Q4 2024 Earnings Call February 20, 2025 12:00 PM ET Company Participants Kimberly Orlando - Senior Managing DirectorKeith Harvey - CEO, President & DirectorNeal West - EVP and CFO Conference Call Participants Bill Peterson - AnalystTimna Tanners - Analyst Operator Greetings, and welcome to the Kaiser Aluminum Corporation Fourth Quarter twenty twenty four Earnings Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the fo ...

Financial Data and Key Metrics Changes - For the full year 2024, same store net operating revenues increased by 5.5% and adjusted EBITDA improved by 6% [9][17] - Adjusted EBITDA for the fourth quarter was $428 million, compared to $386 million in the prior year period, with a margin of 13.1%, up from 12.1% [16][17] - Cash flows from operations were $216 million for the fourth quarter, up from $90 million in the fourth quarter of 2023, and $480 million for the full year of 2024, consistent with guidance [19][20] Business Line Data and Key Metrics Changes - Same store admissions increased by 3.2%, adjusted admissions by 2.7%, and surgeries by 1.3% for the full year 2024 [7] - Same store emergency department visits were up 1% and surgeries were up 0.9% in the fourth quarter [16] - Same store ambulatory surgery center cases increased by 14% last year [8] Market Data and Key Metrics Changes - The company completed divestitures in Cleveland, Tennessee, and Statesboro, North Carolina, with plans for additional divestitures expected to generate over $1 billion in total proceeds [10][22] - The net debt to trailing adjusted EBITDA improved to 7.4 times, down from 7.9 times at the end of 2023 [22] Company Strategy and Development Direction - The company is focused on expanding outpatient access, including primary care, specialty practices, and urgent care centers, with significant capital investments [7][15] - The implementation of a new ERP system is expected to drive efficiencies and reduce costs, with estimated savings of $40 million to $60 million in 2025 [23] - The company anticipates further expansion of internally managed hospital-based provider services in 2025 [12] Management's Comments on Operating Environment and Future Outlook - Management noted stabilization in payer downgrades and denials, which had been a troubling trend for healthcare providers [11][17] - The company expects organic growth of $75 million to $100 million in 2025, with net revenue guidance of $12.2 billion to $12.6 billion [23] - Management expressed confidence in the approval of directed payment programs in New Mexico and Tennessee, which could add an incremental $100 million to $125 million to annual EBITDA [24][50] Other Important Information - The company experienced a $10 million impact from a hurricane in Q4, with one hospital still shut down as a result [74] - The company is in discussions for additional strategic divestitures expected to be announced soon [22] Q&A Session Summary Question: Can you help bridge 2024 to 2025 guidance? - Management provided a high-level bridge starting with 2024 EBITDA of $1.54 billion, accounting for reductions from divestitures and adding organic growth to reach the midpoint of 2025 guidance [27][28] Question: What are the strategic moves expected moving forward? - Management highlighted ongoing investments in core portfolio growth, including outpatient and procedural capacity expansions, and noted that there are still investable opportunities in the pipeline [30][33] Question: Can you quantify the continued hurricane impact in Q4? - The hurricane impact was as expected at $10 million, with one hospital shut down for the entire quarter [74]

Financial Data and Key Metrics Changes - In 2024, net sales totaled $1.473 billion, slightly down from 2023, impacted by a nearly 6% decline in foot traffic and existing home sales at 30-year lows [17][55] - Adjusted EBITDA for 2024 increased 10.2% to $241.8 million, with a margin of 16.4%, compared to 14.9% a year ago [59][70] - Adjusted gross margins improved by 390 basis points to 48.1% for 2024, driven by operating efficiencies and a higher margin product mix [19][55] Business Line Data and Key Metrics Changes - The Hardware and Protective Solutions (HPS) segment saw a 23% increase in adjusted EBITDA with flat top-line results, demonstrating strong customer value [21] - Robotics and Digital Solutions (RDS) is expected to return to growth in 2025, with new strategies and machine rollouts enhancing revenue potential [45][111] Market Data and Key Metrics Changes - Existing home sales fell to 30-year lows, contributing to a 5-point reduction in market volume for Hillman in 2024 [18] - The company anticipates a return to 2% to 3% volume growth in the market, which is crucial for achieving organic top-line growth of 5% to 6% [27][69] Company Strategy and Development Direction - The company aims to grow to $2 billion in net sales over the next three to five years, focusing on core business growth and strategic acquisitions [26][29] - Investments in technology, including cloud migration and AI, are prioritized to enhance operational efficiency and customer service [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to growth in 2025, despite current market pressures, and emphasized readiness for future market improvements [40][76] - The company is confident in its ability to navigate macroeconomic challenges and maintain profitability through strategic initiatives [39][41] Other Important Information - Hillman made two acquisitions in 2024, Koch Industries and Intex DIY, which are expected to provide organic growth opportunities [14][15] - The company has paid down over $900 million of debt in the past four years, improving its balance sheet [24][63] Q&A Session Summary Question: Can you break out organic growth in Q4 by price and volume? - Management indicated that price was down just over 1%, with volume making up the remainder of the growth calculation [80] Question: Why should MinuteKey 3.5% drive sustainable growth in RDS? - Management highlighted the expansion into new markets and improved machine capabilities as key drivers for growth [84][87] Question: How did December trends look, and what is expected in Q1? - December was pressured, but Q1 has stabilized, aligning with expectations from Q4 [96] Question: How are tariffs being managed? - Management plans to handle tariffs similarly to past experiences, ensuring pricing adjustments are made as necessary [98][102] Question: What is the outlook for the Canadian business? - The Canadian market is facing pressures, but new business wins are helping to offset these challenges [127][130]

Nabors Industries (NBR) Q4 2024 Earnings Call February 13, 2025 12:00 PM ET Company Participants William Conroy - Vice President of Corporate Development & Investor RelationsAnthony Petrello - Chairman, President & CEOWilliam Restrepo - Chief Financial OfficerScott Gruber - Director - Oilfield Services & Equipment ResearchKeith Mackey - Director - Equity ResearchArun Jayaram - Vice President Conference Call Participants Kurt Hallead - Equity Research AnalystDaniel Kutz - Analyst Operator Good day, and welco ...

Agree Realty (ADC) Q4 2024 Earnings Call February 12, 2025 09:00 AM ET Company Participants Reuben Treatman - Senior Director of Corporate FinanceJoey Agree - President & Chief Executive OfficerPeter Coughenour - Chief Financial OfficerKi Bin Kim - Managing DirectorJenny Li - VP - REITs Equity ResearchRobert Stevenson - Managing DirectorSpenser Glimcher - Managing DirectorSheryl Kaul - Equity Research AssociateEric Borden - Vice PresidentFarrell Granath - Equity Research AssociateRich Hightower - Managing D ...

Boyd Gaming (BYD) Q4 2024 Earnings Call February 06, 2025 05:00 PM ET Company Participants David Strow - Vice President of Corporate CommunicationsKeith Smith - President and CEOJosh Hirsberg - CFO & TreasurerSteve Wieczynski - Managing DirectorDavid Katz - Managing DirectorJohn Decree - Director - Equity Research Conference Call Participants Carlo Santarelli - AnalystJordan Bender - Equity AnalystBrandt Montour - Director, Equity Research AnalystDaniel Politzer - Director, Equity Research AnalystShaun Kell ...

Financial Data and Key Metrics Changes - Total revenue for the first quarter was $599 million, showing a modest increase when adjusting for the unwinding of the BES business and the sale of U.S. Lawns in the prior year [12] - Adjusted EBITDA for the first quarter was $52.1 million, an increase of $5.4 million or 12% year-over-year, with adjusted EBITDA margins expanding by 120 basis points [15][16] - Net leverage at the end of the first quarter was 2.3 times, down from 2.9 times in the prior year period, driven by lower debt levels and improved profitability [17] Business Line Data and Key Metrics Changes - In the maintenance segment, revenue was relatively flat compared to the prior year, but improvements in employee turnover and customer retention were noted [13] - The development business saw a revenue increase of 3.5% due to the ongoing conversion of a high-quality backlog [13] - Adjusted EBITDA in the development segment reached $17.5 million, marking a record for the first quarter, with an adjusted EBITDA margin expansion of 80 basis points [16] Market Data and Key Metrics Changes - Employee turnover trends improved significantly, contributing to higher customer retention rates [10] - The company is pivoting to a four-day workweek in certain markets, which has been well received by both employees and customers [9] - The company reported that two-thirds of its markets have returned to stable year-over-year ancillary revenue levels, with only two markets facing headwinds [63] Company Strategy and Development Direction - The company is focused on embracing a unified "One BrightView" culture, prioritizing employees and customers to enhance its position as the employer and service provider of choice [8] - Strategic initiatives are underway to improve employee turnover and customer retention, which are expected to drive sustainable profitable growth [12] - The company plans to leverage its size and scale to differentiate itself from competitors and drive long-term shareholder value [8][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving previously provided 2025 financial guidance, anticipating another record EBITDA year [7] - The management team emphasized that they are still in the early stages of transformation, with significant opportunities for improvement and growth ahead [10][12] - Management highlighted the importance of customer retention as a key metric for future growth, indicating that improvements in this area will drive organic growth [30] Other Important Information - The company is hosting an Investor Day on February 19, where more details on its long-term growth strategy will be shared [4][20] - The company has completed a repricing of its $738 million term loan, reducing the interest rate by 50 basis points, resulting in annual cash interest savings of approximately $7.5 million [18] Q&A Session Summary Question: Expectations for maintenance land organic growth this year - Management confirmed that they expect core growth to inflect into positive territory in the second half of the year, with ongoing improvements in employee turnover and customer retention [25][26] Question: Customer retention progress - Management indicated that customer retention is trending positively, with significant room for improvement compared to historical levels [31][32] Question: Future margin lift components - Management discussed various levers for future margin expansion, including procurement initiatives and fleet management improvements [38][39] Question: Labor availability and inflation concerns - Management expressed confidence in their labor force, noting a solid average tenure among frontline employees and ongoing efforts to reduce turnover [53][54] Question: Ancillary revenue trends - Management highlighted a direct correlation between customer retention and ancillary revenue, indicating that happy customers are more likely to engage in discretionary spending [61][62] Question: Development backlog trends - Management reported that the development backlog is up about 6% to 7% year-over-year, indicating strong growth potential [102] Question: Margin expansion guidance - Management reiterated their confidence in maintenance margin expansion, with a target range of 12.6% to 13% for the year [72]