Shimmick Corporation (SHIM) Q1 2025 Earnings Call May 14, 2025 05:00 PM ET Company Participants Anthony Rasmus - Investor RelationsUral Yal - CEO & DirectorTodd Yoder - CFO Conference Call Participants Aaron Spychalla - Research Analyst Anthony Rasmus Good afternoon, and thank you for joining us today on today's conference call to discuss Shimick's first quarter twenty twenty five results. Slides for today's presentation are available on the Investor Relations section of our website, www.shimick.com. During ...

Shimmick Corporation (SHIM) Q1 2025 Earnings Call May 14, 2025 05:00 PM ET Speaker0 Good afternoon, and thank you for joining us today on today's conference call to discuss Shimick's first quarter twenty twenty five results. Slides for today's presentation are available on the Investor Relations section of our website, www.shimick.com. During this call, management will make forward looking statements based on current expectations and assumptions, which are subject to risks and uncertainties. Actual results ...

Core Insights - North American Construction Group Ltd. (NACG) reported strong financial results for Q1 2025, with combined revenue of $391.5 million, marking a 13% increase from the previous year, driven by higher equipment utilization in Canada and increased fleet capacity in Australia [5][12][15] - The company faced operational challenges due to severe weather conditions, particularly excessive rainfall in Australia and cold weather in Canada, which impacted overall performance and margins [3][16][17] Financial Performance - Revenue for Q1 2025 was $340.8 million, a 15% increase from $297.0 million in Q1 2024, with heavy equipment segments in Australia and Canada growing by 18% and 13% respectively [12][23] - Adjusted EBITDA increased slightly to $99.9 million, a 3% rise from $97.4 million in the same quarter last year, despite weather-related operational challenges [5][16] - Net income decreased to $6.2 million from $11.5 million in Q1 2024, reflecting higher depreciation and interest expenses [6][23] Operational Highlights - The Fargo-Moorhead flood diversion project surpassed 65% completion, and early development work commenced at a copper mine in New South Wales [5] - The company successfully converted $73 million of debentures into common shares, enhancing its equity position [5] - A new $225 million senior unsecured financing was completed to bolster liquidity for ongoing infrastructure and mining projects [5][31] Strategic Focus - NACG aims to leverage its strong reputation in heavy civil infrastructure and mining sectors in Australia and North America, with a focus on securing new contracts and expanding existing scopes [3][29] - The company is committed to maintaining high safety standards, operational excellence, and sustainability in its projects [29] Liquidity and Capital Structure - As of March 31, 2025, NACG reported net debt of $867.5 million, reflecting an increase due to cash flow usage and growth spending [5][28] - Total available capital liquidity stood at $198.5 million, providing a solid foundation for funding organic growth and working capital investments [28][30] Future Outlook - NACG projects combined revenue for 2025 to be between $1.4 billion and $1.6 billion, with adjusted EBITDA expected to reach $445 million [32] - The company plans to focus on organic growth, diversification of customers, and strategic partnerships to enhance its market position [29][32]

Earnings Presentation First Quarter 2025 May 2025 Delivering Sustainable Infrastructure Solutions Disclaimer This presentation is being delivered on behalf of Shimmick Corporation (the "Company"). The sole purpose of this presentation is to provide information in connection with a review of the Company's operations and/or financial status. This presentation does not purport to be all-inclusive or to contain all of the information that prospective investors may desire in reviewing the Company. Other than sta ...

Core Insights - Bird Construction's diversification and strategic focus on key market sectors have led to a resilient business model, driving top-line growth and margin improvement, with over $1.3 billion in new contracts awarded in Q1 2025 [1][2] - The company has a record backlog of contracted and awarded work, providing good visibility into revenue growth and margin accretion for 2025 and 2026 [1][2] Financial Highlights - Q1 2025 revenues increased by 4% year-over-year to $717.6 million, compared to $688.2 million in Q1 2024 [5][4] - Net income for Q1 2025 was $9.4 million, down from $10.0 million in Q1 2024, while adjusted earnings increased by 14% to $12.9 million [5][4] - Adjusted EBITDA rose by 41% to $34.1 million, with an adjusted EBITDA margin of 4.8%, up from 3.5% in the previous year [5][4] Backlog and Contracts - The backlog of contracted work grew by 16.4% to over $4.3 billion, the highest in the company's history, with $1.3 billion added in Q1 2025 [9][5] - The pending backlog at the end of Q1 2025 was $4.0 billion, including over $950 million in recurring revenue from master service agreements [9][5] Recent Projects and Awards - In Q1 2025, Bird was awarded five projects valued at approximately $470 million, including significant contracts in infrastructure and industrial maintenance [9][5] - Subsequent to Q1 2025, the company announced additional projects worth over $650 million, further expanding its portfolio [9][5] Liquidity and Capital Allocation - As of March 31, 2025, Bird had $137.8 million in cash and cash equivalents, with an additional $336.7 million available under its credit facility, supporting growth-related investments and potential acquisitions [9][5] - The company declared dividends of $0.07 per common share for March and April 2025 [9][5]

Market Overview - Major U.S. stock indices ended May 13 on a higher note due to easing trade tensions between the U.S. and China, along with softer-than-expected inflation data [1] - The two nations agreed to a 90-day tariff pause, which has contributed to increased investor optimism [1] Investment Strategy - Positive market sentiment may encourage investors to trade on Wall Street, but the sustainability of this rebound is uncertain due to the temporary nature of the tariff pause and changing global market dynamics [2] - To mitigate potential losses during market turmoil, it is advisable to select low-leverage stocks such as 1st Source (SRCE), Kingstone Companies (KINS), MasTec (MTZ), Dorman Products (DORM), and Sterling Infrastructure, Inc. (STRL) [2] Understanding Leverage - Leverage refers to the practice of borrowing capital for operations and expansion, typically through debt financing [4] - Excessive debt financing can lead to significant losses, making it crucial for investors to avoid companies with high debt levels [5] Debt-to-Equity Ratio - The debt-to-equity ratio is a key metric for assessing a company's financial risk, with a lower ratio indicating better solvency [7] - Companies with high debt-to-equity ratios may face challenges during economic downturns, despite strong earnings growth [8] Stock Selection Criteria - Stocks should have a debt-to-equity ratio lower than the industry median, a current price of at least $10, and an average 20-day trading volume of 50,000 or more [11] - Additional criteria include a percentage change in EPS greater than the industry median, a VGM Score of A or B, estimated one-year EPS growth greater than 5%, and a Zacks Rank of 1 or 2 [12] Company Highlights - **1st Source (SRCE)**: A bank holding company with a net income of $37.52 million for Q1 2025, up 27.38% year-over-year, and a return on average assets of 1.72% [14][15] - **Kingstone Companies (KINS)**: A property and casualty insurance holding company with a 51% year-over-year increase in net premium earned and a 125% surge in EPS for Q1 2025 [16][17] - **MasTec (MTZ)**: An infrastructure construction company with a 6% year-over-year revenue increase and a projected 54.9% improvement in earnings for 2025 [18] - **Dorman Products (DORM)**: A supplier of automotive replacement parts with an 8.3% increase in net sales and a 54% rise in adjusted EPS for Q1 2025 [19][20] - **Sterling Infrastructure (STRL)**: A company specializing in E-Infrastructure and building solutions, reporting a 7% revenue increase and a 29% surge in adjusted EPS for Q1 2025 [21]

Everus Construction (ECG) Q1 2025 Earnings Call May 14, 2025 10:30 AM ET Company Participants Paul Bartolai - Partner - Investor Relations PracticeJeffrey Thiede - President & CEOMaximillian Marcy - Vice President, Chief Financial Officer and TreasurerIan Zaffino - Managing DirectorQuinten Helmer - Equity Research AssociateChris Senyek - Chief Investment Strategist Conference Call Participants Brent Thielman - MD & Senior Research Analyst Operator Thank you for standing by. My name is Ian, and I will be you ...

Financial Data and Key Metrics Changes - The company's Q1 2025 revenue increased by 32% to $826.6 million compared to the same period last year, driven by a 47% increase in Electrical and Mechanical (E and M) revenue, partially offset by a 2% decline in Transmission and Distribution (T and D) revenue [20][21] - Total EBITDA for Q1 2025 was $61.8 million, also reflecting a 32% increase year-over-year, with an EBITDA margin of 7.5%, consistent with the prior year [20][21] - The total backlog at the end of Q1 2025 was $3.1 billion, up 10% from the end of 2024 and up 41% from the same period last year [21][24] Business Line Data and Key Metrics Changes - E and M segment revenue rose to $648.2 million, a 47% increase from $441 million in the prior year, with EBITDA for this segment increasing by 51% to $49.5 million [22][23] - T and D segment revenue was $185 million, down from $188.5 million last year, but T and D EBITDA increased by 5.8% to $20.1 million, resulting in an EBITDA margin of 10.9%, up 80 basis points from last year [23][24] Market Data and Key Metrics Changes - The company reported strong demand trends in key markets, particularly in data centers, hospitality, and high-tech reshoring, with E and M backlog increasing by 46% year-over-year [10][11][12] - The T and D segment is expected to benefit from increased workloads, particularly in undergrounding projects, despite some weather-related delays impacting revenue [35][48] Company Strategy and Development Direction - The company is focused on its "forever strategy," which emphasizes attracting and retaining talent, delivering high-quality execution, and maintaining customer relationships [14][16] - A significant portion of the increased capital expenditure in Q1 was allocated to purchasing a new prefabrication facility in Kansas City, which is critical for supporting organic growth [17][25] - The company aims for organic revenue growth of 5% to 7% and EBITDA growth of 7% to 9% on a compound annual basis [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties and highlighted the importance of maintaining strong customer relationships and project execution [9][11] - The company remains optimistic about backlog growth and demand trends in key markets, despite acknowledging potential fluctuations in project timing [10][14] Other Important Information - The company has appointed Tim Steves as vice president of corporate development and strategy to enhance its M&A capabilities [18] - The company affirmed its 2025 guidance, projecting revenues between $3 billion and $3.1 billion and EBITDA between $210 million and $225 million [26] Q&A Session Summary Question: Outlook on larger mix of longer lead time projects - Management indicated that while backlog may be bumpy, their expertise in winning large complex projects allows them to add value early in the project lifecycle [30][32] Question: T and D segment outlook and weather-related impacts - Management noted strong demand for T and D services and emphasized their long-standing customer relationships, which position them well for future work [35][48] Question: Status of high-tech manufacturing market - Management confirmed ongoing strong relationships with semiconductor manufacturers and expressed confidence in continuing to support these customers despite some cyclicality in capital allocation [38] Question: Non-backlog business outlook - Management highlighted the importance of non-backlog work and resource allocation, indicating a healthy backlog and good project visibility [41][44] Question: Hospitality market status - Management reported an increase in backlog in Las Vegas and strong relationships with customers, positioning them well for future opportunities [47] Question: Impact of tariffs on business - Management discussed proactive measures to mitigate tariff impacts, including securing pricing and availability with suppliers [59][60] Question: Corporate costs and future run rate - Management indicated that corporate costs may increase slightly as they stand up departments, but overall guidance remains unchanged [62]

Financial Data and Key Metrics Changes - The company's first quarter revenue increased by 32% year-over-year, reaching $826.6 million, driven primarily by a 47% increase in the Electrical and Mechanical (E and M) segment [18][7] - Total EBITDA for the first quarter was $61.8 million, also reflecting a 32% increase from the previous year, with an EBITDA margin of 7.5%, consistent with the prior year [18][19] - The total backlog at the end of the first quarter was $3.1 billion, up 10% from the end of the previous year and up 41% from the same period last year [19][9] Business Line Data and Key Metrics Changes - E and M revenue increased to $648.2 million, a 47% rise compared to $441 million in the prior year, with E and M EBITDA growing by 51% to $49.5 million [20][18] - Transmission and Distribution (T and D) revenue slightly declined by 2% to $185 million due to weather-related delays, but T and D EBITDA increased by 5.8% to $20.1 million [21][18] Market Data and Key Metrics Changes - The E and M backlog increased by 46% year-over-year, driven by growth in key submarkets such as data centers, manufacturing, government, and hospitality [9][19] - T and D backlog grew by 8% year-over-year, indicating solid demand despite the revenue decline [19] Company Strategy and Development Direction - The company is focused on its "forever strategy," which emphasizes attracting and retaining talent, delivering high-quality execution, and maintaining customer relationships [13][14] - A significant portion of the capital expenditure in the first quarter was allocated to purchasing a new prefabrication facility in Kansas City, expanding the total footprint by approximately 128,000 square feet [15][23] - The company aims for organic revenue growth of 5% to 7% and EBITDA growth of 7% to 9% on a compound annual basis [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties and highlighted strong demand trends in key markets, particularly in data centers and high-tech reshoring [10][11] - The company is optimistic about its ability to grow backlog based on favorable demand trends and strong customer relationships [13][12] Other Important Information - The company is actively monitoring tariff impacts and has implemented strategies to mitigate risks associated with price increases [58] - The first quarter's capital expenditures were $18.5 million, up from $9.2 million in the same period last year, reflecting a commitment to support organic growth [23][18] Q&A Session Summary Question: Outlook on larger projects and revenue timing - Management indicated that the backlog could be bumpy due to the nature of large projects, which often have longer lead times [30] Question: Transmission and Distribution segment outlook - Management noted strong demand for T and D services and highlighted expertise in undergrounding as a growth opportunity [33] Question: Status of high-tech manufacturing market - Management confirmed ongoing strong relationships with semiconductor manufacturers and expressed confidence in continued support for these customers [37] Question: Non-backlog business outlook - Management emphasized the importance of non-backlog work and resource allocation to ensure effective project execution [40][42] Question: Hospitality market status - Management reported an increase in backlog in Las Vegas and expressed confidence in capturing future opportunities in the hospitality sector [46] Question: Pharmaceutical manufacturing opportunities - Management acknowledged the potential for growth in the pharmaceutical manufacturing market and indicated plans for geographic expansion [50] Question: Impact of tariffs on business - Management discussed proactive measures to mitigate tariff risks and secure pricing with suppliers [58] Question: Corporate costs and future expectations - Management indicated that corporate costs may increase slightly as the company stands up departments, but overall costs remain in line with expectations [61]

Company Overview - UAB "Orkela" is a private limited company registered on September 24, 2015, with its registered office in Vilnius and no branches or representative offices [1] Main Business Activities - The primary activity of the Company is real estate development and construction, owning a land plot and building complex in Vilnius, and is currently developing a lyceum and hotel complex [2] Key Events in Q1 2025 - A bondholders' meeting on January 9, 2025, resulted in the decision to extend the bond redemption deadline to July 19, 2025 [4] - On April 10, 2025, the State Territorial Planning and Construction Inspectorate approved the completion of the administrative part of the development project [4] Financial Overview for Q1 2025 - The Company invested €9.7 million in project development during the first quarter of 2025 [4] - Project-related expenses amounted to €269.8 thousand, while project financing costs were €892.7 thousand [4] - As of March 31, 2025, the Company's total assets reached €60,825 thousand, an increase from €52,376 thousand as of December 31, 2024 [4]