SCOTTSDALE, Ariz., Aug. 19, 2025 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE: RS) announced today that effective August 14, 2025, it has entered into a $400 million unsecured term loan facility maturing August 2028 (the “Facility”). The proceeds of the Facility were used to refinance the Company’s $400 million senior unsecured notes maturing August 15, 2025. The new Facility complements Reliance’s existing capital structure, further optimizing its balance sheet while maintaining ample capacity to invest in hig ...

Core Viewpoint - Nexxen International Ltd. is initiating a new $20 million Ordinary Share repurchase program to capitalize on perceived undervaluation and demonstrate confidence in its long-term prospects [1][2] Financial Position - The company maintains a strong cash position, supported by a profitable and cash-generative model, allowing for a balanced capital allocation strategy focused on long-term growth and shareholder value creation [2] Investment Strategy - Nexxen plans to invest an additional $35 million in VIDAA, increasing its equity stake to approximately 6%, to support VIDAA's North American CTV expansion and enhance the long-term value of its data and advertising rights [3] - The company will continue investing in the expansion of its commercial and media teams and in product innovation to accelerate future growth and reinforce its global market position [4] Strategic Opportunities - Nexxen is exploring targeted strategic opportunities to expand its monetizable data assets, enhance AI capabilities, and accelerate growth across core business lines in the U.S. and internationally, or enter new high-growth markets [5] Repurchase Program Details - The new repurchase program is subject to a 30-day creditor objection period and requires consent from the company's bank lenders before it can commence [6][7] - As of July 31, 2025, approximately $7.2 million remains under the current repurchase authorization, expected to be completed before November 19, 2025 [8]

CK Asset Holdings (01113) H1 2025 Earnings Call August 14, 2025 05:00 AM ET Speaker0Welcome to Teekay Asset Holdings twenty twenty five Interim Results Analyst Briefing. We have with us today two Executive Committee members, Mr. Simon Mann and Mr. Gerald Ma presenting the group's interim results and to answer questions the audience may have. Please submit your questions using the webcast platform and we will handle those during the Q and A session.Thank you, Mr. Man and Mr. Ma.Speaker1Thank you, Sophia. Let ...

Financial Data and Key Metrics Changes - The company completed the sale of U.S. Cellular wireless business and certain spectrum assets to T-Mobile for $4.3 billion, which strengthens the balance sheets of both Array and TDS [5][12] - TDS's debt was reduced to approximately $364 million post-transaction, with $1.7 billion in debt assumed by T-Mobile [12] - A special dividend of $23 per share was declared, with TDS expected to receive approximately $1.63 billion [13] - The average cost of debt for TDS is projected to decrease to just over 6% after redeeming $1.1 billion in debt [13] - S&P raised TDS's credit rating to BBB- from BB, reflecting a strong balance sheet and growth outlook [18] Business Line Data and Key Metrics Changes - Array's tower business has approximately 4,400 towers and is expected to grow colocations and margins due to increasing demand for data services [6][8] - Third-party tower revenues increased by 12%, and the number of third-party colocations rose by 6% year-over-year [26] - Fiber service addresses grew by 19% year-over-year, with 10,300 net additions in the quarter [35][41] - Total operating revenues decreased by 1% year-over-year, but excluding divestitures, revenue increased by 1% [43] Market Data and Key Metrics Changes - The company is focusing on expanding its fiber footprint, targeting 1.8 million marketable fiber service addresses, with 968,000 addresses at the end of the quarter [36] - The company aims for 80% of total addresses to be served by fiber, currently at 53% [37] - Demand for higher broadband speeds is increasing, with 83% of residential broadband customers taking 100 meg or higher [41] Company Strategy and Development Direction - The company is focusing on its tower and fiber businesses, with plans to optimize ground leases and drive revenue growth through new colocations [24][26] - A capital allocation strategy is being developed, focusing on fiber investments, M&A opportunities, and shareholder returns [16][17] - The company aims to maintain a conservative balance sheet while pursuing growth opportunities in fiber and tower businesses [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the target of 150,000 new fiber addresses for the year, with significant growth expected in the second half [34][59] - The company is optimistic about the competitive landscape in its expansion markets, which were selected for their favorable characteristics [77] - Management acknowledged the challenges of transitioning from a wireless service provider to an independent tower company, with expected wind-down costs impacting profitability in the near term [30] Other Important Information - The company is working to monetize remaining spectrum assets, with agreements to monetize approximately 70% of Array's total spectrum holdings [21] - The new master license agreement with T-Mobile is expected to significantly strengthen the tower business, with commitments for colocations [26] Q&A Session Summary Question: Update on TDS Telecom's fiber expansion - Management is excited about the opportunities for fiber expansion and expects to share more details in upcoming quarters [54] Question: Long-term leverage stabilization for TDS Telecom - TDS Telecom is expected to maintain leverage below 1.5 times while evaluating opportunities [56] Question: Access to construction resources for fiber expansion - Management is confident in meeting the 150,000 service address goal, with ramping construction efforts [59] Question: Cohort analysis for fiber penetration - Management plans to share cohort analysis soon, expecting 25-30% penetration by month 12 in new markets [63] Question: Update on mobile launch and pricing strategy - TDS Mobile was launched in select markets, with aggressive pricing strategies being tested [86][88] Question: M&A opportunities focus - The company is considering fiber opportunities that synergize with existing properties [89]

Financial Data and Key Metrics Changes - The company reported second quarter revenue of $56.8 million, reflecting a decrease due to dampened market conditions in the gaming accessories industry [11] - Gross margins improved to 32% from 30% in the prior year, demonstrating effective cost optimization initiatives despite lower revenue [11][12] - Adjusted EBITDA loss for the second quarter was $3 million, with expectations for a notable increase in adjusted EBITDA in the second half of the year, guiding for a full year range of $47 million to $53 million [13][14] Business Line Data and Key Metrics Changes - The company has seen improvements in year-on-year market comparisons in Q2, particularly in the headset and third-party controller markets, which were down mid-teens year-to-date compared to over 20% at the end of Q1 [10][25] - The launch of Nintendo Switch 2 has driven strong sales in related accessories, indicating a positive trend in the gaming accessories market [10][29] Market Data and Key Metrics Changes - The overall gaming accessories market is expected to remain down for the full year 2025, but improvements are anticipated in the second half of the year, setting the stage for strong growth in 2026 [10][11] - The company noted that less than 15% of total U.S. supply will be produced in China after Q1, up from approximately 10% previously discussed [7] Company Strategy and Development Direction - The company is focused on three primary objectives: delivering Q2 results, advancing capital allocation strategies including stock buybacks, and refinancing credit facilities to strengthen capital structure [5][9] - The capital allocation strategy emphasizes investments in organic growth, share repurchases, and accretive mergers and acquisitions [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strengthened strategic positioning and opportunities ahead as the outlook for gaming accessories improves [19] - The macroeconomic environment has tracked closely to expectations, with improvements driven by successful product launches like the Nintendo Switch 2 [24][26] Other Important Information - The company successfully repurchased approximately $5 million of stock at an average price of $13.47 as part of its $75 million share repurchase program [8][16] - A comprehensive refinancing of the term loan and credit facility was completed, resulting in a reduced interest rate and enhanced operational flexibility [9][15] Q&A Session Summary Question: Reflection on changes since the last quarterly call regarding the U.S. economy, tariffs, and game title releases - Management noted that the macroeconomic pressures remain but improvements are expected, particularly driven by the successful launch of Nintendo Switch 2 [24][26] Question: Lift in sales of Nintendo-related products - Management confirmed strong sales in June for Nintendo-related accessories, indicating a positive trend following the hardware release [29] Question: Improvement in market conditions across product lines - Management indicated that improvements were seen across gaming accessories, particularly in controllers and headsets, with expectations for continued improvement in the back half of the year [34]

Core Insights - Alta Equipment Group Inc. reported total revenues of $481.2 million for Q2 2025, reflecting a sequential increase of 13.8% but a year-over-year decrease of $6.9 million [4][3] - The Construction Equipment segment saw revenues rise to $300.7 million, an increase of $5.8 million year-over-year, primarily driven by a $21.5 million increase in new and used equipment sales [3][4] - Material Handling revenues decreased to $160.7 million from $175.6 million year-over-year, attributed to regional market challenges and tariff-related hesitancy [3][4] Financial Performance - Adjusted EBITDA for the quarter increased by $14.9 million sequentially to $48.5 million [4][3] - The net loss available to common stockholders was $(6.8) million, with a basic and diluted net loss per share of $(0.21) [4][3] - Selling, general, and administrative expenses were reduced by $12.2 million year-over-year, contributing to improved operational efficiency [4][3] Market Conditions - The company noted that its Construction Equipment segment benefited from reliable demand due to federal and state infrastructure projects, despite broader economic uncertainties [3][4] - The Material Handling segment's performance was impacted by market hesitancy related to tariffs and regional softness, particularly in the Midwest and Canada [3][4] - Alta's Ecoverse business faced margin pressure due to tariffs on European imports, although demand for environmental processing equipment remains strong [3][4] Strategic Initiatives - The company repurchased 1,145,604 shares of common stock for an average price of $5.64 per share, totaling $6.5 million as part of its capital allocation strategy [3][5] - Alta continues to optimize its rental fleet levels, reducing the original equipment cost of its rental fleet by nearly $50 million from a year ago [3][4] - The company expects to report Adjusted EBITDA between $171.5 million and $181.5 million for the full fiscal year 2025 [6]

Financial Data and Key Metrics Changes - The company reduced its compulsory debts from BRL 20 billion to under BRL 12 billion, showcasing effective liability management [4] - Reported a loss of BRL 1.3 billion due to regulatory remeasurement of transmission contracts, but adjusted net income would have reached BRL 1.4 billion, approximately 40% higher than last year [10][11] - EBITDA was impacted by nearly EUR 800 million in equity income, leading to a year-on-year reduction [10] Business Line Data and Key Metrics Changes - Generation margins increased by 21% compared to Q1 and 16% compared to Q2 2024, despite a drop in transmission revenue [8] - Investments grew by 116% compared to Q1 2025, focusing on reinforcements and improvements [8][24] - The company concluded its first post-privatization transmission auction, the Caladinho project, and financial rebalancing for Transnorte Energia [9] Market Data and Key Metrics Changes - The company reported a significant increase in contribution margins from energy trading, rising from BRL 1 billion in Q1 to BRL 1.6 billion in Q2 [14] - The energy available for trading decreased from 12 gigawatts in Q1 to 9 gigawatts in Q2 due to seasonal patterns [15] - The company anticipates a more constructive price scenario for 2026 and 2027, despite some volatility [17] Company Strategy and Development Direction - The company aims to improve predictability in results, increase investments, reduce costs, and manage liabilities, transitioning from a turnaround phase to a stable growth phase [6][52] - Future growth opportunities will focus on M&A and auctions, with a strategy to provide more predictable dividends [52] - The company is modernizing its infrastructure and integrating new technologies, including AI, to enhance operational efficiency [54] Management's Comments on Operating Environment and Future Outlook - Management highlighted improved risk profiles and reduced uncertainties for shareholders, with a focus on capital allocation and predictable dividends [21][52] - The company is optimistic about future investments, projecting significant growth in capital expenditures for 2025 and beyond [37] - Management acknowledged the challenges posed by GSF but emphasized a strategic approach to energy trading and client engagement [56][60] Other Important Information - The company is nearing completion of the Transnorte Energia line, which will interconnect the last isolated state in Brazil, creating jobs and reducing carbon emissions [25] - The company has streamlined its corporate structure post-privatization, enhancing operational efficiency [22] Q&A Session Summary Question: Details on trading strategy for Q2 and expected recurring CapEx - Management explained that trading strategies involve distributed teams focusing on client value and portfolio analysis [30][31] Question: Status of internal efforts to accelerate investments - Management confirmed that the internal processes for investment acceleration are well aligned and ongoing [39][41] Question: Expected returns on investments with current interest rates - Management indicated that returns on regulated investments are expected to converge over time, with a robust methodology in place [46] Question: Company's focus on risk reduction and capital allocation - Management stated the focus is on consolidating initiatives and providing predictable dividends, with growth opportunities through M&A and auctions [52] Question: Impact of GSF on potential gains and trading decisions - Management acknowledged the challenges posed by GSF but emphasized a strategic approach to energy trading and client engagement [56][60]

Financial Data and Key Metrics Changes - Atlios reported revenue of $1.1 billion for the second quarter, with core top line growth led by traditional hardware revenue and service growth backlog conversion [10][29] - Adjusted EBITDA grew to $205 million, with a margin expansion of approximately 40 basis points year over year [30][40] - Non-GAAP fully diluted earnings per share increased by 9% year over year to $0.93 [31] Business Line Data and Key Metrics Changes - The self-service banking segment saw revenue growth of 9% year over year, reaching $733 million, driven by a 21% increase in hardware deliveries [32] - The ATM as a Service business experienced a 32% revenue growth, with significant increases in unique customers and a favorable mix shift to higher margin geographies [36] - The network segment revenue was down 2% year over year to $320 million, primarily due to lower cash withdrawal transactions [38] Market Data and Key Metrics Changes - The company reported a backlog increase of 105% year over year, setting a strong foundation for future growth [53] - Cash deposit transactions grew by 170% year over year in the U.S. retail portfolio, indicating strong demand for utility deposit services [40] - The adjusted EBITDA margin for the network segment was 27%, reflecting the impact of increased bulk cash costs [40] Company Strategy and Development Direction - Atlios aims to grow efficiently, prioritize service, and embrace simplicity as part of its strategic objectives for 2025 [13][24] - The company is focused on expanding its installed base and enhancing service offerings to drive future revenue growth [22][70] - A $200 million share repurchase program has been authorized to enhance shareholder value while balancing debt reduction [25][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year guidance despite ongoing tariff uncertainties and macroeconomic challenges [47] - The company anticipates continued growth in free cash flow and a reduction in net leverage to below three times by the third quarter [27][44] - Management highlighted the importance of customer satisfaction and service performance improvements as key drivers of future growth [56][70] Other Important Information - The company has successfully transitioned to a pure-play independent entity following its separation from legacy NCR [22][24] - The focus on product innovation and operational efficiency is expected to enhance competitive positioning in the market [14][22] Q&A Session Summary Question: Can you talk about the average ARPU in the as-a-service backlog and its trend? - The average ARPU in the backlog is approximately $9,100, with over 8,000 units currently in backlog [51] Question: Can you quantify the as-a-service backlog? - The backlog is up 105% year over year, indicating strong momentum for the business [53] Question: Can you provide metrics on service performance improvements? - Customer health scores have increased by 160 basis points, reflecting enhanced service levels and customer satisfaction [15][56] Question: What is the company's vision for the next two to three years? - The company aims to leverage its unique capabilities to provide both shared financial utility and bank-specific fleet solutions, driving predictable and high free cash flows [70] Question: How does the company view the impact of tariffs on hardware? - Hardware revenue is approximately $800 million, and while tariffs are a concern, the company believes it can manage costs effectively and maintain competitiveness [74][80]

Financial Performance - Q1 FY'26 - Net sales increased by 5% year-over-year to $893 million[20, 37] - Adjusted operating earnings increased by 8% year-over-year to $114 million[20, 39] - Adjusted EBITDA increased by 2% year-over-year to $123 million[20, 41] - Adjusted EPS increased by 5% year-over-year to $2.08, but decreased by 6% excluding the 45X tax credit[20, 42] - Free cash flow was negative $32 million, a decrease of $6 million year-over-year[20] - Gross margin was 28.4%, an increase of 40 bps year-over-year, but 24.1% excluding the 45X tax credit[21] Q2 FY'26 Guidance - The company expects net sales to be flat year-over-year, in the range of $870 million to $910 million[9, 60] - Adjusted EPS is expected to increase by 26% year-over-year, or 8% excluding the 45X tax credit, with a range of $2.33 to $2.43[9, 60] - The company anticipates a $35 million to $40 million benefit to the cost of sales from IRC 45X[9, 60] Strategic Initiatives - The company introduced EnerGize, a strategic framework to transform and grow the company[9, 10] - The company is restructuring for operational efficiency, including an 11% workforce reduction, expecting $80 million in annualized savings[12] - The company increased its buyback authorization by $1 billion to be executed over 5 years and returned $159 million to shareholders through buybacks and dividends[9]

Core Viewpoint - Centerra Gold Inc. reported strong operational and financial results for the second quarter of 2025, driven by high commodity prices, with significant cash flow and strategic advancements in project development [2][3]. Operational Highlights - Consolidated gold production in Q2 2025 was 63,311 ounces, with 35,058 ounces from Mount Milligan and 28,253 ounces from Öksüt [6][21]. - Copper production for the quarter was 12.4 million pounds [6]. - The company updated its 2025 gold production guidance for Mount Milligan to 145,000 to 165,000 ounces, down from 165,000 to 185,000 ounces due to lower grade zones encountered during mining [21][22]. Financial Highlights - Cash flow from operations before working capital and taxes was $98 million, an increase of 22% from the previous quarter [3][8]. - Net earnings for Q2 2025 were $68.6 million, or $0.33 per share, representing an 82% increase compared to the same quarter last year [8][10]. - The average realized gold price was $2,793 per ounce, a 33% increase year-over-year [10]. Strategic Growth Initiatives - The Goldfield project is advancing with an after-tax NPV5% of $245 million and an IRR of 30%, with first production expected by the end of 2028 [3][8]. - Centerra has approved up to $75 million for share repurchases in 2025, reflecting confidence in long-term business value [3][8]. - The company is progressing with a Pre-Feasibility Study for Mount Milligan, aiming to extend its mine life beyond 2036 [25]. Cost Management - Consolidated gold production costs in Q2 2025 were $1,308 per ounce, with all-in sustaining costs (AISC) on a by-product basis at $1,652 per ounce [6][10]. - The company revised its 2025 gold production costs guidance for Mount Milligan to between $1,350 and $1,450 per ounce, up from previous estimates [22]. Capital Expenditures - Total capital expenditures in Q2 2025 were $53.9 million, with sustaining capital expenditures at $25.8 million [6][10]. - Non-sustaining capital expenditures were $28.1 million, primarily related to the restart of operations at Thompson Creek [6][10].