Financial Data and Key Metrics Changes - First quarter adjusted EBITDA was $591 million, compared to $544 million in the prior period, reflecting a year-over-year increase [19] - Adjusted EFO for the quarter was $345 million, which included a net gain of $114 million from the sale of an offshore oil services shuttle tanker operation [19] Business Line Data and Key Metrics Changes - The Industrial segment generated first quarter adjusted EBITDA of $304 million, benefiting from $72 million in tax benefits at the advanced energy storage operation [19] - The Business Service segment's adjusted EBITDA was CAD 213 million, an increase from CAD 205 million in 2024, driven by strong performance in residential mortgage insurance and improved project execution in construction [20] - The Infrastructure Services segment's adjusted EBITDA was $104 million, down from $143 million in the same quarter last year, impacted by weak market conditions in work access services [21] Market Data and Key Metrics Changes - The U.S. remains an attractive destination for capital, with ongoing investments in the backbone of the economy [7][9] - Growth in Europe has lagged behind the U.S., but there are signs of a pro-growth agenda from governments [9] - India and the Gulf countries are highlighted as bright spots in the global economy, providing a conducive deal-making environment [9] Company Strategy and Development Direction - The company aims to own great businesses with market-leading positions and enhance their performance and cash flows [6] - There is a focus on capital recycling initiatives, with $1.5 billion generated and $370 million committed to acquiring two industrial businesses [5] - The company is prepared for uncertain days ahead but remains optimistic about the quality of its businesses and operational capabilities [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that most businesses will not be entirely insulated from tariffs or potential downturns in global growth, but they are confident in their operational capabilities to adapt [6][17] - The company is evaluating proactive measures across its businesses to mitigate potential headwinds and prepare for changing environments [15][17] - Management expects the longer-term impacts from U.S. trade policy could be positive for their businesses, despite recognizing near-term disruption risks [17] Other Important Information - The company has a liquidity of approximately CAD 2.3 billion at the corporate level, which supports ongoing capital allocation priorities [21] - A $250 million repurchase program was launched, with $140 million already returned to shareholders [5][22] Q&A Session Summary Question: Impact of tariffs on Dexco's EBITDA - Management indicated that performance in Q1 was in line with plans, with some recovery in North America, but the market remains muted. They are managing costs effectively to improve margins [25][26] Question: Status of Clarios' tax filing - Management confirmed that the tax return for 2024 is being processed normally, and they expect to receive tax benefits in due course [27][61] Question: Plans for returning capital to shareholders - Management stated they are always looking for monetization opportunities and have a balanced approach to deleveraging, returning capital, and new investments [30] Question: Realignment at Scientific Games - Management highlighted significant opportunities in digitizing the lottery ecosystem and has appointed a new head of digital to enhance value [35] Question: Participation in Barclays payments business - Management confirmed that BBU will participate in the Barclays investment, aligning with their strategy in financial infrastructure [37] Question: Performance of Unidos in Brazil - Management reported stable performance in the fleet management side, with the car rental side also performing well despite rising interest rates [49][52]

Core Insights - The increase of 11,000 jobs in the construction industry is not surprising given the anticipated surge in spring activities [1] - The transportation and warehousing sector added 29,000 jobs, likely in response to hiring efforts to expedite work before tariffs take effect [1]

Financial Performance - Revenue for Q1 2025 reached $2.8 billion, exceeding guidance expectations by 5% and showing a 6% increase compared to the previous year[5] - Adjusted EBITDA for Q1 2025 was $164 million, a 7% year-over-year increase[5,6] - Adjusted Diluted EPS for Q1 2025 was $0.51, exceeding guidance by $0.17 due to higher earnings, lower depreciation, and a lower tax rate[5] - Cash flow from operations for Q1 2025 was $78 million[6] Backlog - Total backlog reached $15.9 billion, reflecting a sequential increase of $1.6 billion and a year-over-year growth of $3.0 billion[5] - The $15.9 billion backlog is up 24% or $3.0 billion on a year-over-year basis, and up 11%, or $1.6 billion sequentially[12] - Clean Energy and Infrastructure backlog increased by $172 million sequentially and $912 million year-over-year, reaching $4.4 billion[12] Segment Results (Q1 2025) - Communications revenue was $754 million, while Clean Energy and Infrastructure revenue was $900 million, Power Delivery revenue was $506 million, and Pipeline Infrastructure revenue was $164 million[8] - Communications adjusted EBITDA was $46.8 million, Clean Energy and Infrastructure adjusted EBITDA was $57.1 million, Power Delivery adjusted EBITDA was $51.3 million, and Pipeline Infrastructure adjusted EBITDA was $44.5 million[45] Guidance - The company projects Q2 2025 revenue to be $3.4 billion and full-year 2025 revenue to be $13.65 billion[21] - Adjusted EBITDA guidance for Q2 2025 is $270 million - $280 million, and for the full year 2025, it is $1.12 billion - $1.16 billion[21] - Adjusted Diluted EPS guidance for Q2 2025 is $1.36 - $1.46, and for the full year 2025, it is $5.90 - $6.25[21]

Core Insights - Brookfield Business Partners reported a net income of $80 million for Q1 2025, up from $48 million in Q1 2024, reflecting a significant increase in profitability [2][3][31] - The company generated over $1.5 billion from capital recycling initiatives and invested approximately $140 million in unit and share repurchases [2][9] - Adjusted EBITDA for Q1 2025 was $591 million, compared to $544 million in the prior year, driven by strong performance in the Industrials segment [3][4] Financial Performance - Net income attributable to unitholders for Q1 2025 was $80 million ($0.38 per unit), compared to $48 million ($0.23 per unit) in Q1 2024 [2][3] - Adjusted EBITDA increased to $591 million in Q1 2025 from $544 million in Q1 2024, with contributions from recent acquisitions [3][4] - The Industrials segment generated $304 million in Adjusted EBITDA, up from $228 million in the same period last year, aided by tax benefits and new acquisitions [4][5] Segment Performance - Business Services segment reported Adjusted EBITDA of $213 million, slightly up from $205 million in Q1 2024, despite higher technology upgrade costs [5] - Infrastructure Services segment saw a decline in Adjusted EBITDA to $104 million from $143 million, impacted by the sale of the offshore oil services operation [6] - Adjusted EFO for the Industrials segment decreased to $130 million from $180 million, reflecting the impact of withholding taxes [7] Strategic Initiatives - The company announced the acquisition of Antylia Scientific for approximately $1.3 billion, with Brookfield expected to invest about $160 million for a 25% interest [8] - A unit repurchase program was executed, with approximately $140 million spent to repurchase 5.9 million units at an average price of $24 per unit [9] Liquidity and Distribution - As of March 31, 2025, Brookfield had approximately $2.4 billion in liquidity, including $59 million in cash and liquid securities [10] - The Board declared a quarterly distribution of $0.0625 per unit, payable on June 30, 2025 [11][33]

Financial Data and Key Metrics Changes - In Q1 2025, revenue increased by $28 million or 4% year-over-year, while gross profit rose by $30 million or 54% [19] - Adjusted net income improved by $9 million, and adjusted EBITDA increased by $14 million [19] - Positive operating cash flow of $4 million was achieved in a typically weather-impacted quarter [19] Business Line Data and Key Metrics Changes - In the Construction segment, revenue increased by $19 million or 3% year-over-year to $615 million, driven by strong capital across the company [20] - Construction segment gross profit improved by $29 million to $85 million, with a gross profit margin of 14% [20] - In the Materials segment, revenue increased by $8 million year-over-year to $85 million, with gross loss decreasing by $1 million to a loss of $2 million [23] Market Data and Key Metrics Changes - The capital (CAP) increased by $444 million to a record $5.7 billion in Q1 2025, reflecting a strong bidding environment [16] - Strong performance was noted across all markets, particularly in California, Texas, and the Federal Division [17] Company Strategy and Development Direction - The company is strategically investing in its materials business to strengthen its footprint and drive higher margins [12] - The focus remains on pursuing accretive M&A opportunities to strengthen home markets and expand geographic footprint, targeting two to three deals in 2025 [12][25] - The company aims to mitigate risks associated with inflation and tariffs by locking in pricing at bid time and monitoring commodity markets [11] Management's Comments on Operating Environment and Future Outlook - Management confirmed guidance for 2025 and 2027 financial targets, indicating confidence in market performance despite macroeconomic uncertainties [6][7] - The federal infrastructure bill continues to provide opportunities, with expectations for strong spending levels in the coming years [33] - Management expressed optimism about the construction season ahead, expecting year-over-year revenue growth to increase in the second and third quarters [21] Other Important Information - The company has invested significantly in its materials business, increasing reserves by 56% to 1.6 billion tons and adding new aggregate and asphalt plants [14] - Cash and marketable securities were $513 million at the end of Q1, with debt largely unchanged at $740 million [24] Q&A Session Summary Question: Can you discuss the active bidding environment and trajectory of CAP? - Management noted a strong public market, with CAP reflecting increased bidding and higher margins than previous years [31][32] Question: What is driving higher profitability in the Construction segment despite weather challenges? - The increase in gross profit margin is attributed to improved execution and a focus on higher quality projects [36] Question: How do the movements in bid build and best value projects affect CAP quality? - Management indicated that while bid build projects grew, best value projects are larger and more complex, affecting the timing of their inclusion in CAP [42] Question: What is the expected percentage of materials revenue relative to construction sales for 2025? - Management expects materials revenue to stabilize around 17% to 18% of construction sales for 2025, reflecting ongoing investments [46] Question: How is the federal business performing, particularly in Guam and the Southeast region? - The federal business is strong, with successful projects in Guam and Texas, and the Southeast region is performing well post-acquisition [57][60] Question: Can you comment on cash gross profit margins and demand cadence? - Management expects cash gross profit margins to improve and noted strong demand in April following a weather-impacted March [72][75]

Financial Data and Key Metrics Changes - In Q1 2025, revenue increased by $28 million or 4% year-over-year, while gross profit rose by $30 million or 54% [18] - Adjusted net income improved by $9 million, and adjusted EBITDA increased by $14 million, achieving positive operating cash flow of $4 million [18][22] - The Construction segment's revenue increased by $19 million or 3% year-over-year to $615 million, with gross profit improving by $29 million to $85 million, resulting in a gross profit margin of 14% [19][20] Business Line Data and Key Metrics Changes - The Materials segment's revenue increased by $8 million year-over-year to $85 million, with gross loss decreasing by $1 million to a loss of $2 million [22] - The Construction segment is expected to see year-over-year revenue growth increase in the second and third quarters due to a busy construction season ahead [20] - The average selling prices for aggregates are expected to increase in the high single digits, while asphalt prices are projected to rise in the low single digits [14] Market Data and Key Metrics Changes - The company reported a record CAP of $5.7 billion, an increase of $444 million in Q1 [15] - Strong bidding environments in public markets, supported by federal funding and healthy state budgets, are expected to continue driving opportunities [32] - The federal business has seen significant work, particularly in Guam and Texas, indicating strong market demand [54][55] Company Strategy and Development Direction - The company is focused on strategically investing in its materials business to drive volumes and higher margins, with a target of completing two to three M&A deals in 2025 [11][12] - The company aims to derisk its project portfolio by avoiding long-term design-build mega projects and focusing on locking in pricing at bid time [10] - Continued emphasis on operational excellence and a high-quality project portfolio is expected to support growth and margin expectations [16][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting 2025 guidance and 2027 financial targets despite macroeconomic uncertainties [5][6] - The company has not experienced significant impacts from tariffs to date, although it continues to monitor the situation closely [25][7] - The outlook for 2025 remains positive, with expectations for strong demand in both public and private sectors [26][32] Other Important Information - The company has invested significantly in its materials business, increasing reserves by 56% to 1.6 billion tons and adding new aggregate and asphalt plants [13] - The first quarter typically sees slower cash flow, but the company generated $4 million in operating cash flow, slightly better than expected [23] - The company maintains a strong balance sheet with cash and marketable securities of $513 million and debt largely unchanged at $740 million [23] Q&A Session Summary Question: Active bidding environment and trajectory of CAP - Management noted a strong public market environment, with CAP reflecting increased bidding and higher margins than previous years [30][31] Question: Higher profitability in the Construction segment despite weather challenges - Management attributed higher profitability to improved execution and a focus on higher quality projects, expecting continued margin improvement throughout 2025 [34][35] Question: Diverging movements in project types and CAP quality - Management indicated that while bid-build projects grew, best value projects are larger and more complex, maintaining a healthy mix in the project portfolio [40][41] Question: Federal business and regional performance post-acquisition - Management highlighted strong performance in the federal business and successful integration of acquisitions in the Southeast, with confidence in future growth [55][56] Question: Cash gross profit per ton compared to peers - Management acknowledged differences in cash gross profit per ton due to geographic factors and product mix, with expectations for margin expansion in 2025 [66][69] Question: Demand cadence and April performance - Management reported strong demand in January and February, with April showing continued strength despite some weather-related slowdowns in March [72][75] Question: Tariff impacts on equipment costs - Management anticipates some increases in equipment and parts costs due to tariffs but has been proactive in managing capital expenditures [76][77]

Group 1 - The company VINCI is issuing an additional €150 million tap issue of non-dilutive convertible bonds, which will be fully assimilated to the existing €400 million non-dilutive convertible bonds due in February 2030 [1] - The settlement and delivery of the new bonds is expected to take place on May 6, 2025 [1] - The final issue price per new bond is set at €107,155.16, which includes accrued interest [9] Group 2 - VINCI is a global leader in concessions, energy solutions, and construction, employing 285,000 people across more than 120 countries [2] - The company focuses on designing, financing, building, and operating infrastructure and facilities that enhance daily life and mobility [2] - VINCI aims to create long-term value for its customers, shareholders, employees, partners, and society at large [2]

Group 1 - The report highlights the positive economic outlook in China, with the central government emphasizing coordinated macro policies to boost confidence and promote high-quality development [1][22][23] - The focus on artificial intelligence is reiterated, with the government aiming to leverage its advantages to ensure safe and beneficial development in this sector [1][22] - The report anticipates a recovery in the military industry, driven by geopolitical tensions and increased allocations from active funds, particularly in the military electronics sector [3][9] Group 2 - The pet food market is experiencing significant growth, with the urban pet consumption market reaching 300.2 billion yuan, reflecting a 7.5% year-on-year increase [5][8] - Online sales channels are dominating the pet food market, with 80% of pet owners purchasing main food through traditional online platforms, and Douyin's pet category seeing a 65% year-on-year growth [5][8] - The report identifies a shift in consumer behavior towards premium pet products, driven by younger pet owners who are willing to spend more on their pets [5][8] Group 3 - The semiconductor testing equipment sector is showing strong demand recovery, with the company reporting a 45.21% year-on-year revenue increase in Q1 2025 [9] - The company is expanding its international market presence, with a new production center in Malaysia aimed at enhancing service capabilities [9] - The military aviation sector is also highlighted, with a significant increase in revenue from training aircraft, reflecting a growing demand both domestically and internationally [9][10] Group 4 - The home appliance sector is benefiting from strong overseas demand, with a 21.68% year-on-year increase in export revenue, while domestic sales are under pressure [10][11] - The company is expected to see a gradual recovery in domestic sales due to low base effects, despite current challenges [10][11] - The report projects a positive outlook for the company, with anticipated revenue growth driven by international markets [10][11] Group 5 - The energy sector is experiencing stable performance, with a reported 15.62% year-on-year revenue increase in 2024, and a focus on expanding natural gas infrastructure [17][18] - The company is actively investing in pipeline construction to enhance its distribution capabilities, which is expected to support future growth [17][18] - The report indicates a strong commitment to shareholder returns, with a dividend payout ratio of 69.12% in 2024 [17][18]

Core Points - Springview Holdings Ltd has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement, as the closing bid price was below $1.00 for 30 consecutive business days from March 13, 2025, to April 24, 2025 [1] - The company has a compliance period of 180 calendar days, until October 22, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days [2] - If compliance is not achieved within the initial 180 days, the company may be eligible for an additional 180-day grace period, provided it meets other listing requirements [3] - The company is actively monitoring its share price and considering options to regain compliance, emphasizing its commitment to delivering value to shareholders and maintaining its Nasdaq listing [4] Company Overview - Springview Holdings Ltd, operating since 2002, specializes in designing and constructing residential and commercial buildings in Singapore [5] - The company offers a comprehensive range of services, including new construction, reconstruction, additions, alterations, and general contracting, along with post-project services like defect repairs and maintenance [5]

NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Everus Construction Group, Inc. ("Everus Construction " or the "Company") (NYSE: ECG) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Everus Construction investors who were adversely affected by alleged securities fraud between October 31, 2024 and February 11, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zl ...