Canada is likely to see major new electricity transmission projects on the east and west coasts as the government moves to increase energy production https://t.co/rq7crvY6LX ...

There's heavy participation from the private sector at the summit. And one of those present on stage was Gecko Robotics co-founder CEO Jake Loosararian And you first. Let's just start with the basics.Your reaction to the AI action plan. It's detailed multiple, but what is the key component for you. I think the key component is it's very much all about energy.I mean, President Trump has been very clear that the country that's able to dominate energy and create and unleash it will be the ones that win the rac ...

Renewable Energy & Government Subsidies - The industry expresses concern about dependence on government-subsidized energy, questioning its long-term sustainability [1] - The industry emphasizes the need for a continuous engine for new energy production to achieve nonlinear growth [2] - The industry notes potential negative impacts on solar and wind energy demand due to the reduction of government programs [2] Nuclear Energy & Market Forces - The industry anticipates a natural market force for nuclear energy as a result of reduced government support for other renewable sources [3] - The industry suggests that removing clean energy tax credits could drive demand for more naturally sustainable and scalable energy production sources [4] - The industry believes the existing energy demand will incentivize new electricity generation, potentially favoring nuclear energy [3][4]

George Bilicic, Lazard managing director, joins 'Money Movers' to discuss the energy sector and ramping up production to meet demand. ...

Financial Performance & Growth - Forum Energy Technologies (FET) reported Q1 2025 revenue of $193 million[7] - The company's revenue has grown from $541 million in 2021 to $816 million in 2024[7] - Adjusted EBITDA increased from $20 million in 2021 to $100 million in 2024[7] - EBITDA margin has improved from 4% in 2021 to 12% in 2024[7] - The company anticipates 2025 EBITDA to be in the range of $85 million to $105 million and free cash flow between $40 million and $60 million[39] Strategy & Market Position - FET's geographical revenue split is 51% US and 49% international (TTM ended March 31, 2025)[7] - The company has a $75 million share repurchase program and repurchased $2 million of shares in Q1 2025[10, 42] - The company focuses on niche markets with competitive advantages and high barriers to entry[20, 22] - FET aims to allocate 50% of free cash flow to net debt reduction[41] Debt Reduction - The company has substantially deleveraged since 2019, with net debt decreasing from $344 million to $146 million as of March 31, 2025[44] - Net leverage ratio has decreased from 473x in December 31, 2019 to 156x in March 31, 2025[44]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q1 2025 was $2.4 billion with a distribution coverage ratio of 1.7 times and retained DCF of $842 million [6][14] - Net income attributable to common unitholders was $1.4 billion or $0.64 per common unit, compared to $0.66 per common unit in Q1 2024 [14] - Distribution declared was $0.0535 per common unit, a 3.9% increase from Q1 2024 [15] - Total debt principal outstanding was approximately $31.9 billion with a weighted average cost of debt of 4.7% [17] Business Line Data and Key Metrics Changes - The company moved 13.2 million barrels of oil equivalent per day and 2 million barrels per day of liquid hydrocarbon exports [6] - PDH facilities experienced downtime; PDH1 was down for 63 days due to unplanned maintenance, but both PDH plants are now operational [6][7] - Total capital investments in Q1 2025 were $1.1 billion, including $964 million for growth capital projects [16] Market Data and Key Metrics Changes - The company noted a strong demand for U.S. hydrocarbons globally, particularly from China and India, despite tariff uncertainties [8][10] - LPG exports have not been significantly disrupted, with 85% to 90% of LPG exports contracted [22][60] Company Strategy and Development Direction - The company plans to bring online two gas processing plants in the Permian and several other projects throughout 2025 [7][16] - The focus remains on increasing capacity to gather, process, transport, and export hydrocarbons, with a significant backlog of wells expected to be connected [12][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term outlook for U.S. energy production and exports, citing supportive policies from the current administration [12] - The company anticipates continued growth in the Permian Basin, with expectations of connecting a similar number of wells in 2025 as in 2024 [39] Other Important Information - The company has returned approximately $58 billion to unitholders since its IPO in 1998 through distributions and buybacks [16] - The expected range of growth capital expenditures for 2025 is $4 billion to $4.5 billion, with sustaining capital expenditures around $525 million [16] Q&A Session Summary Question: Current U.S. LPG rerouting and competitive landscape - Management indicated that trade flows are balancing, with no disruptions in exports, and highlighted their capital-efficient expansion plans [22][23] Question: Incremental EBITDA from upcoming projects - Management confirmed that many projects are expected to be fully contracted upon coming online, leading to a rapid ramp-up in EBITDA [26][32] Question: Impact of recent market price volatility on buybacks - Management discussed their strategy for excess distributable cash flow and indicated a significant increase in cash flow expected in 2026 [53] Question: Outlook for the petchem and refined product segment - Management noted that both PDH plants are running well and expressed optimism for the segment's performance for the remainder of the year [42][44] Question: Global demand and tariff impacts - Management acknowledged a demand slowdown internationally but emphasized that pricing would adjust to clear the market [61] Question: CapEx plans in light of potential demand slowdown - Management stated that current projects are well contracted and unlikely to slow down despite tariff concerns [70] Question: Update on major capital projects - Management confirmed that major capital projects are progressing well and are expected to come online ahead of schedule [81]