Apollo Global Management (APO) FY 2025 Conference May 29, 2025 08:00 AM ET Speaker0 Good morning. My name is, Patrick Davitt. I'm The US Asset Manager Analyst, here at Autonomous. It's my pleasure to welcome Apollo's president, Jim Zeltzer. I think it's your first time at this event. Yes. Speaker1 Yeah. We did a lot of swapping around this year. Yeah. Yeah. Speaker0 Yeah. It's good to have you for the first time. I will miss Mark, but, obviously, great to have you. As a reminder, if you have any questions, ...

Group 1 - KKR's Co-CEO Scott Nuttall participated in the Bernstein 41st Annual Strategic Decisions Conference, discussing the current economic landscape and inflation concerns [1][2]. - The company acknowledges the recent volatility in the market, highlighting concerns about persistent inflation, prolonged high interest rates, and potential economic slowdown or stagflation [4]. - KKR's internal view suggests that inflation rates are expected to remain elevated for a longer period, which aligns with the company's historical perspective over its 49 years of operation [5].

Market Overview - Wall Street experienced a strong bull run in 2023 and 2024, but 2025 has shown mixed results due to concerns over persistent inflation and the Federal Reserve's uncertain stance on interest rates after a 1% cut in the benchmark lending rate last year [1] - Severe volatility has affected Wall Street since early April, primarily due to the implementation of reciprocal tariff policies by the Trump administration, with baseline tariffs at 10% but actual rates exceeding 70% for several major trading partners [2] - Retaliatory tariffs from other countries have raised fears of a global trade war, although some trade negotiations have been settled and others are ongoing [3] Company Highlights Philip Morris International Inc. (PM) - Philip Morris has shown strong pricing power and is expanding its smoke-free product portfolio, aiming to become substantially smoke-free by 2030 [7] - The company anticipates robust growth in 2025, with a projected 2% increase in volume and smoke-free products expected to grow by 12-14% [8] - Expected revenue and earnings growth rates for the current year are 8.1% and 13.7%, respectively, with a stock price increase of 44.7% year to date [9] Sprouts Farmers Market Inc. (SFM) - Sprouts Farmers is focusing on product innovation, e-commerce, and private label offerings, which have contributed to better-than-expected fourth-quarter 2024 results [10] - The company expects net sales to rise between 10.5% and 12.5% in 2025, with comparable sales anticipated to increase by 4.5-6.5% [11] - Expected revenue and earnings growth rates for the current year are 13.7% and 35.5%, respectively, with a stock price surge of 32.2% year to date [12] Newmont Corp. (NEM) - Newmont is progressing with growth projects, including the Tanami expansion and the acquisition of Newcrest, which enhances its portfolio and synergies [13] - The Ahafo North project has received full funding approval, with commercial production expected to start in the second half of 2025, involving an investment of $950 million to $1,050 million [14] - Expected revenue and earnings growth rates for the current year are 2% and 12.6%, respectively, with a stock price increase of 40.5% year to date [15]