Core Points - Precision Drilling Corporation successfully elected all eight nominee directors at its 2025 Annual and Special Meeting of Shareholders, with seven being independent [1] - The voting results showed high approval rates for the nominee directors, with William T. Donovan receiving 97.27% of votes in favor and Lori A. Lancaster receiving 98.62% [2] - All other business items, including the advisory vote on executive compensation, were also approved at the meeting [2] Company Overview - Precision Drilling is a leading provider of high-performance and environmentally responsible services to the energy industry, featuring an extensive fleet of Super Series drilling rigs [4] - The company has developed a digital technology portfolio known as Alpha™, which employs advanced automation software and analytics to enhance operational efficiency [4] - Precision also offers a suite of environmental solutions called EverGreen™, aimed at minimizing the environmental impact of its operations [4] - The company is headquartered in Calgary, Alberta, Canada, and is publicly traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbols "PD" and "PDS" respectively [5]

Financial Data and Key Metrics Changes - The company's revenue for Q1 2025 increased by 41.7% compared to Q1 2024, primarily due to the inclusion of revenues from Timber Technologies and Alliance Drilling Tools acquisitions [5] - Gross margin improved to 24.3% from 17.3% in the same quarter last year, attributed to higher revenues and the addition of Timber Technologies [5] - Gross profit was $3,100,000, up 99.2% versus Q1 2024, driven by increased revenue at KBS and the addition of TT and ADT [8] - The net loss from continuing operations was $1,200,000 in Q1 2025, an improvement from a net loss of $2,200,000 in Q1 2024 [10] - Non-GAAP adjusted EBITDA from continuing operations was a loss of $800,000, compared to a loss of $1,100,000 in the same period last year [11] Business Line Data and Key Metrics Changes - Building Solutions segment revenues increased by 32.9% compared to Q1 2024, although still below internal expectations due to delays in commercial projects [5] - The Building Solutions division backlog reached a record $27,900,000 at quarter end, compared to $14,800,000 at the end of Q1 2024, indicating strong future demand [6] - The establishment of the Energy Services division was highlighted by the acquisition of Alliance Drilling Tools, with a focus on organic growth and potential additional acquisitions [6] Market Data and Key Metrics Changes - The company noted a significant uptick in customer interest and activity over the past couple of quarters, indicating a positive market environment [6] - There were no signs of projects being put on hold due to tariff impacts, with a strong backlog supporting confidence in future quarters [19] Company Strategy and Development Direction - The management team is focused on creating shareholder value through targeted business development initiatives and identifying additional accretive opportunities across all divisions [13] - The company is monitoring input costs like lumber and OSB, but does not see significant exposure to new home construction, which has slowed down [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the backlog and the momentum in the Building Solutions division, with no signs of a temporary situation regarding project delays [19] - The company is optimistic about the integration of Alliance Drilling Tools and the growth opportunities within the Energy Services division [6] Other Important Information - Consolidated cash flow from operations for Q1 2025 was an inflow of $600,000, a significant improvement from an outflow of $2,400,000 in Q1 2024 [11] - The unrestricted cash balance at the end of the quarter was $1,900,000, down from $4,000,000 at the end of 2024, primarily due to cash used for the acquisition of ADT [11] Q&A Session Summary Question: Dynamics between Edge Builder and Building Solutions regarding project delays - Management clarified that delays were specific to a large project at EdgeBuilder, which paused for two months but is back on track for revenue recognition in Q2 [16] Question: Early signs of projects being put on hold due to pricing - Management indicated that there are no signs of projects being put on hold, with a strong backlog supporting ongoing construction demand [18] Question: Gross profit margin changes in Alliance Drilling - Management explained that the gross profit margin fluctuation is a function of intra-quarter activity and that Alliance Drilling maintains high gross margins [25][27] Question: Equipment rental revenue terms in Alliance - Management described the rental terms as project-based, with high rental rates due to the nature of the equipment used in drilling operations [30]

Core Insights - PBF Energy Inc. reported a first-quarter 2025 adjusted loss of $3.09 per share, which was narrower than the Zacks Consensus Estimate of a loss of $3.50, but worse than the prior year's loss of $0.86 per share [1] - Total revenues for the quarter decreased to $7.07 billion from $8.65 billion year-over-year, yet exceeded the Zacks Consensus Estimate of $6.47 billion [1] - The better-than-expected earnings were attributed to reduced costs and expenses despite lower throughput volumes and declining refining margins [2][3] Financial Performance - The Refining segment reported an operating loss of $473.2 million, a significant decline from an operating income of $170.6 million in the previous year, falling short of the estimated operating income of $99.2 million [3] - The Logistics segment generated a profit of $51.4 million, up from $45.1 million in the prior-year quarter, surpassing the estimate of $45.5 million [3] Throughput Analysis - Crude oil and feedstock throughput volumes averaged 730.4 thousand barrels per day (bpd), down from 897.4 thousand bpd year-over-year and below the estimate of 770 thousand bpd [4] - The East Coast, Mid-Continent, Gulf Coast, and West Coast regions contributed 35.9%, 18.8%, 21.6%, and 23.7% respectively to total throughput volumes [4] Margins - The company-wide gross refining margin per barrel was $5.96, significantly lower than $11.73 in the previous year and below the estimate of $9.94 [5] - Regional margins included $5.86 for the East Coast (down from $7.72), $5.32 for the Gulf Coast (down from $12.36), and $6.76 and $6.05 for the Mid-Continent and West Coast respectively, compared to $18.15 and $13.15 a year ago [6] Costs & Expenses - Total costs and expenses for the quarter were $7.56 billion, down from $8.5 billion in the prior year, but higher than the estimate of $6.97 billion [7] - Cost of sales, including operating expenses and depreciation, amounted to $7.49 billion, lower than $8.43 billion a year ago [7] Capital Expenditure & Balance Sheet - PBF Energy invested $215.6 million in capital for refining operations and $2.4 million for logistics [8] - As of the end of the first quarter, the company had cash and cash equivalents of $0.47 billion and total debt of $2.24 billion, resulting in a total debt-to-capitalization ratio of 30% [8] Outlook - For the second quarter of 2025, PBF Energy expects throughput volumes of 265,000 to 285,000 bpd on the East Coast, 150,000 to 160,000 bpd in the Mid-Continent, 165,000 to 175,000 bpd in the Gulf Coast, and 215,000 to 235,000 bpd on the West Coast [9]

Core Points - Precision Drilling Corporation is holding its 2025 Annual and Special Meeting of Shareholders on May 15, 2025, at 10:00 a.m. MST in a virtual-only format, allowing equal participation for all shareholders regardless of location [1] - Shareholders can access the meeting online, listen, ask questions, and vote in real time if connected to the internet, with advance proxy voting available as in previous years [2][3] - Additional information regarding participation and voting instructions is available in Precision's Management Information Circular and Virtual AGM User Guide on their website [3] Company Overview - Precision Drilling is a leading provider of safe and environmentally responsible services to the energy industry, offering access to a fleet of Super Series drilling rigs and a digital technology portfolio known as Alpha [4] - The company emphasizes its commitment to reducing environmental impact through its EverGreen suite of environmental solutions and provides well service rigs, camps, and rental equipment supported by skilled personnel [4] - Precision is headquartered in Calgary, Alberta, Canada, and is listed on the Toronto Stock Exchange under the symbol "PD" and on the New York Stock Exchange under "PDS" [5]