Net leverage ratio

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Portman Ridge(PTMN) - 2025 Q2 - Earnings Call Presentation
2025-08-08 14:00
Financial Performance - Total investment income for Q2 2025 was $12.63 million, compared to $12.1 million in Q1 2025 and $16.337 million in Q2 2024[11] - Core investment income for Q2 2025 was $12.63 million, compared to $12.102 million in Q1 2025 and $16.225 million in Q2 2024[11] - Net investment income (NII) for Q2 2025 was $4.6 million ($0.50 per share), compared to $4.34 million ($0.47 per share) for Q1 2025 and $6.477 million ($0.70 per share) for Q2 2024[11] - Net asset value (NAV) as of June 30, 2025, was $164.7 million ($17.89 per share), compared to $173.5 million ($18.85 per share) for Q1 2025[11] Portfolio Composition and Activity - Investment portfolio at fair value as of June 30, 2025, was $395.109 million, comprised of 96 different portfolio companies[11] - Deployments of approximately $10.9 million and repayments and sales of approximately $17.0 million, resulting in net repayments and sales of approximately $6.1 million[11] - Debt investments on non-accrual, as of June 30, 2025, were six, representing 2.1% of the Company's investment portfolio at fair value and 4.8% at amortized cost[11] - Weighted average annualized yield, excluding income from non-accruals and collateralized loan obligations, was approximately 10.7% as of June 30, 2025[11] Capital Structure and Distributions - Par value of outstanding borrowings, as of June 30, 2025, was $255.4 million, with an asset coverage ratio of total assets to total borrowings of 165%[11] - Declared a regular quarterly base distribution of $0.47 per share of common stock, and a supplemental cash distribution of $0.02 per share of common stock[11] Recent Developments - The company announced the closing of the merger with Logan Ridge Finance Corporation on July 15, 2025, with the combined company having total assets in excess of $600 million based on July 11, 2025, financial data[9]
Driven Brands (DRVN) - 2025 Q2 - Earnings Call Presentation
2025-08-05 12:30
Financial Performance - The net leverage ratio as of Q2 2025 was 4.1x[1,2] - Net loss for the six months ended December 28, 2024, was $326.916 million, while net income for the six months ended June 28, 2025, was $29.299 million[1] - Interest expense, net, for the six months ended December 28, 2024, was $81.396 million, and for the six months ended June 28, 2025, was $67.893 million[1] - Depreciation and amortization for the six months ended December 28, 2024, was $92.250 million, and for the six months ended June 28, 2025, was $68.055 million[1] - Adjusted EBITDA for the twelve months ended June 28, 2025, was $537.822 million[1] - Debt Agreement Adjusted EBITDA for the twelve months ended June 28, 2025, was $532.968 million[1] Debt and Cash Flow - Total debt as of June 28, 2025, was $2.376724 billion[1] - Cash and cash equivalents as of June 28, 2025, were $166.131 million[1] - Net debt as of June 28, 2025, was $2.210593 billion[1] Adjustments to EBITDA - Pro forma EBITDA adjustments resulted in a decrease of $23.535 million[1] - Run rate adjustments related to store openings and closings resulted in an increase of $11.395 million[1] - Other adjustments permitted under the Debt Agreement resulted in an increase of $7.287 million[1]
Itafos Reports Outstanding Operational and Financial Q1 2025 Results
Globenewswire· 2025-05-07 21:05
Core Viewpoint - Itafos Inc. reported strong operational performance in Q1 2025, with production volumes exceeding prior year levels and a revenue growth of 6% year-over-year despite higher input costs [2][5][6]. Financial Performance - Q1 2025 revenues reached $135.7 million, up from $128.0 million in Q1 2024, while adjusted EBITDA was $39.3 million compared to $43.2 million in the previous year [7]. - Net income for Q1 2025 was $35.9 million, an increase from $23.7 million in Q1 2024, primarily due to a gain on the sale of the Araxá project [6][7]. - Free cash flow improved to $31.3 million in Q1 2025 from $17.7 million in Q1 2024 [7]. Operational Highlights - The company achieved a significant milestone by reducing net debt to below $0, with net debt recorded at $(1.7) million as of March 31, 2025 [4][18]. - The company maintained a net leverage ratio of (0.0)x, indicating strong financial health [7][18]. - The successful closure of the Araxa project sale resulted in a gain of $27.9 million [10]. Market Outlook - Phosphate pricing experienced a slight decrease in Q1 2025 but is expected to remain strong through 2025 due to strong global demand and limited supply from evolving tariff policies [11][16]. - The company anticipates sales volumes of 340-360 thousand tonnes of P2O5 for FY 2025, with corporate selling, general and administrative expenses projected between $17-20 million [14][13]. Mine Development - Progress continues on the mine life extension program at Husky 1 / North Dry Ridge, with first ore shipments expected in the second half of 2025 [3][21]. - The company is focused on resource evaluation and permitting at Conda, with an expected annual cost of approximately $6-8 million for exploration activities [21][25]. Recent Developments - The company declared a special dividend of C$0.05 per share following the successful sale of the Araxá project [15]. - The company reported strong environmental, health, and safety performance, with no reportable incidents in Q1 2025 [20].
Driven Brands (DRVN) - 2025 Q1 - Earnings Call Presentation
2025-05-06 11:35
Net leverage ratio as of Q1 2025 was 4.3x Reconciliation of LTM Q1 Fiscal 2025 Net Loss and Debt Agreement Adjusted EBITDA | | | | Twelve | | | | --- | --- | --- | --- | --- | --- | | | Nine months | Three months | months | | | | | ended | ended | ended | | | | ($ thousands) | 28-Dec-24 | 29-Mar-25 | 29-Mar-25 | ($ thousands) | 29-Mar-25 | | Net (loss)/income | ($296,757) | $17,490 | ($279,267) | Total Debt | $2,648,506 | | Income tax (expense)/benefit | (31,307) | 7,031 | (24,276) | | | | Interest expense, ...
Stonegate Capital Partners Updates Coverage on Civeo Corporation (CVEO) 2025 Q1
Newsfile· 2025-05-01 13:25
Core Insights - Civeo Corporation reported a negative free cash flow of ($13.5M) in Q1 2025, a decline from $7.2M in the same period last year, primarily due to negative operating cash flow of ($8.4M) and capital expenditures of $5.3M [1][5] - The company reaffirmed its long-term free cash flow generation confidence, supported by a capital-light model and a high mix of recurring asset-light services revenue [1] - Civeo increased its share repurchase authorization from 10% to 20% of shares outstanding and plans to use 100% of free cash flow to complete the program, having repurchased 153,000 shares for approximately $3.3M in the quarter [1][5] Financial Performance - Civeo reported revenues of $144.0M and a net loss of $9.8M, with an Adjusted EBITDA of $12.7M [5] - The company revised its 2025 guidance, projecting revenues between $620M and $650M and Adjusted EBITDA of $75M to $85M [5] - Net debt increased by $20.9M quarter-over-quarter to $59.0M, resulting in a net leverage ratio of 0.8x [1]