Financial Data and Key Metrics Changes - The company reported a GAAP EPS loss of $0.30 for Q1 2025, compared to an income of $0.19 per share in Q1 2024, which included $0.47 per share from the sale of the Shelburne Hotel [14] - Baseline EBITDA for Q1 2025 was $108 million, a 5% increase year-over-year, bringing the trailing twelve-month baseline EBITDA to $412 million [14] - Assets under management grew by 26% over the past two years to $29 billion, producing approximately $575 million in estimated annual NOI and fees [6] Business Line Data and Key Metrics Changes - The rental housing sector, representing 66% of assets under management, is expected to grow to over 80% in the next three years [7] - Same property multifamily occupancy increased to 95%, with same property revenue growing by 3% and same property NOI by 4.3% in Q1 [8] - Investment management fees grew by 17% in Q1 to $25 million, reflecting strong performance in the credit platform and continued growth in equity platforms [10][27] Market Data and Key Metrics Changes - In the U.S., real estate transaction volumes increased by 23% in Q1, with no material changes in sentiment observed in Q2 [7] - The company noted strong apartment demand in Q1, with blended leasing spreads increasing to 1.5% and a significant improvement in new lease rents [20] - In Ireland, same property NOI in the apartment portfolio was up 3.5%, driven by occupancy growth and strong operating expense management [23] Company Strategy and Development Direction - The company is focused on executing a non-core asset sale plan, aiming to generate between $400 million to $450 million from asset sales and recaps by year-end [12] - The strategy includes reducing unsecured debt and simplifying the business by focusing on core sectors of rental housing and industrial [30] - The company is expanding its credit solutions to include mezzanine debt and preferred equity investments, enhancing its ability to capture opportunities within the credit space [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving fee revenue growth targets of 20% to 25% annually, supported by a strong pipeline of activity [11] - The company believes that the best risk-adjusted returns are found in the rental housing sector due to demand driven by housing shortages and declining new supply [7] - Management highlighted the importance of relationships in maintaining competitiveness amid increased market volatility and competition [34] Other Important Information - The company has a strong pipeline of $2.5 billion in loan originations and real estate equity acquisitions, primarily within the rental housing sector [5] - The total debt is 96% fixed or hedged, with a weighted average maturity of 4.8 years and a weighted average effective interest rate of 4.7% [18] - The company is actively monitoring potential impacts from government changes on affordable housing, with 15% of tenants having some form of HUD backing [54][57] Q&A Session Summary Question: Regarding fee-bearing capital growth - Management confirmed confidence in achieving 20% to 25% growth in fees, citing a strong pipeline and future funding commitments [32][33] Question: On liquidity and partner capital costs - Management acknowledged increased competition but emphasized strong relationships and flexibility in pricing to remain competitive [34][36] Question: Stock buyback plans - The focus remains on paying down unsecured debt, with potential reconsideration of stock buybacks after addressing debt obligations [37][39] Question: Dispositions and cap rates - Management indicated that dispositions are well underway, with expected closures in June, but refrained from commenting on specific cap rates [42][44] Question: Loan origination rates and prepayments - Loan origination rates have seen downward pressure, but the quality of projects remains high; a significant prepayment was noted as an outlier [51][53] Question: Exposure to government-backed housing - Approximately 15% of tenants have HUD backing, but management does not foresee immediate concerns regarding capital availability [56][60]

Financial Data and Key Metrics Changes - The first quarter adjusted EBITDA was $52.5 million, with adjusted diluted earnings per share of $1.26, supported by a year-over-year sales growth of 15.5% and sequential sales growth of 1.2% [6][18] - Total sales for Q1 increased to $476.6 million, with average daily sales rising from $6.9 million in January to $8.1 million in March [11][19] - Gross margins improved to 31.5%, reflecting a year-over-year increase of 151 basis points [24] Business Line Data and Key Metrics Changes - Innovative Pumping Solutions (IPS) saw a sales growth of 38.5% year over year, while Service Centers grew by 13.4% and Supply Chain Services by 2.1% [11][19] - IPS backlog continued to grow, with energy-related backlog increasing by 5.5% over Q4 [22] - Service Centers achieved a new sales watermark of $327 million, with notable growth in regions like Alaska and Texas Gulf Coast [20][18] Market Data and Key Metrics Changes - The ISM and PMI manufacturing index indicated a slight contraction, moving from 50.9 in January to 49 in March, with expectations that price increases will offset this contraction [9] - Oil and gas, representing 23% of the business, showed consistent demand, with anticipated growth driven by large projects [10] Company Strategy and Development Direction - The company remains focused on organic and inorganic growth, with a commitment to customer-driven expertise and operational improvements [5][7] - DXP is actively pursuing acquisitions to diversify its market presence, having closed one acquisition in Q1 and planning more [8][32] - The company aims to maintain a balance between strategic investments and preserving liquidity amid market uncertainties [15][31] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding future demand despite tariff uncertainties, noting that no significant demand effects have been observed yet [16][44] - The company is well-positioned to navigate market volatility and is focused on improving efficiencies while making strategic investments [15][17] Other Important Information - The company reported a working capital increase to $325.3 million, reflecting a rise in receivables [27] - Cash flow from operations was $3 million, impacted by growth in accounts receivable and tax payments [29] Q&A Session Summary Question: Can you share daily sales trends by month for Q1 and Q2? - Daily sales trends showed an increase from $6.8 million in January to $8.1 million in March, with April at $7.8 million [38][39] Question: Will there be any significant margin differences between Q1 and Q2? - There are no substantive factors expected to cause a significant margin difference between Q1 and Q2 [40][41] Question: Are there signs of slowing down due to tariffs and macro uncertainty? - Management noted no significant effect on demand yet, although there may be some stalling due to uncertainty around tariffs [42][44]

NN (NNBR) Q1 2025 Earnings Call May 08, 2025 09:00 AM ET Company Participants Stephen Poe - Assistant Vice PresidentHarold Bevis - CEO, President & DirectorChristopher H. Bohnert - Senior Vice President and Chief Financial OfficerTim French - SVP & COO Conference Call Participants Rob Brown - Founding Partner & Senior Research AnalystHans Baldau - Equity Research AnalystJohn Franzreb - Senior Equity Analyst Operator Good day, and welcome to the NN Inc. First Quarter twenty twenty five Earnings Conference Ca ...

Financial Data and Key Metrics Changes - Funds from Operations (FFO) and Core FFO per share available to common shareholders were both $0.34 for Q1 2025, unchanged from Q1 2024 [13] - Total operating revenues increased to $37,500,000 in Q1 2025 from $35,700,000 in Q1 2024, while operating expenses rose to $23,900,000 from $23,300,000 [14] - Net assets increased from $1,090,000,000 to $1,160,000,000 due to acquisitions [15] Business Line Data and Key Metrics Changes - Same store rents increased by 6.6% in Q1 2025 compared to Q1 2024, driven by higher property expense recovery revenue and rental rates [13] - Portfolio occupancy remained high at 98.4% as of March 31, 2025 [9] Market Data and Key Metrics Changes - U.S. Treasury yields remain volatile, impacting inflation and economic growth outlooks [6] - Industrial real estate sector showed resilience with net absorption of 23,100,000 square feet in Q1 2025, matching the previous year's levels [7] - Vacancy rates rose modestly to 7%, but remain in line with historical averages [8] Company Strategy and Development Direction - The company aims to increase industrial concentration in its portfolio to at least 70% [9] - Focus on acquiring high-quality industrial assets that are mission-critical to tenants, while selectively disposing of non-core assets [11] - The company is actively working to extend lease terms and support tenant growth through capital improvement initiatives [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the second quarter despite macroeconomic uncertainties and tariff pressures [6] - The company has not seen material deterioration in credit quality, even with higher interest rates [12] - Long-term tailwinds from reshoring and onshoring activities are expected to benefit the company [10] Other Important Information - The company has over $99,000,000 in availability via its line of credit and cash on hand, positioning it well for future acquisitions [12] - The common stock dividend is set at $0.30 per share per quarter, with a yield of 8.68% at the last closing price [17] Q&A Session Summary Question: What is the status of the acquisition pipeline? - The company has approximately $70,000,000 under contract and a backlog of about $140,000,000 consisting of 10 assets, indicating increased market activity [21][22] Question: Are sellers more willing to negotiate on price? - The response indicated a combination of increased willingness from sellers and more suitable assets fitting the company's portfolio [27] Question: How is the company preparing for lease expirations in 2026 and 2027? - The company is actively managing lease expirations and is in discussions for renewals, with a focus on industrial properties [30] Question: What is the situation with the Austin office property? - The Austin property is generating positive cash flow, and the company is tracking several requirements and RFPs in the market [44] Question: Are there any changes in acquisition parameters due to government policy? - The company finds light manufacturing more attractive compared to warehouse distribution, aligning with its focus on reshoring and onshoring [45] Question: What is the competition like in the leasing market? - The leasing market is competitive, primarily with end users, and the company remains competitive in securing leases [55]

Gladstone Commercial (GOOD) Q1 2025 Earnings Call May 08, 2025 08:30 AM ET Company Participants David Gladstone - Founder, Chairman & CEOMichael Licalsi - General Counsel & SecretaryBuzz Cooper - PresidentGary Gerson - CFO & Assistant TreasurerGaurav Mehta - Managing DirectorCraig Kucera - MD - Equity ResearchDave Storms - Director of Equity Research Conference Call Participants John Massocca - Senior Research Analyst Operator As a reminder, this conference is being recorded. It is now my pleasure to introd ...

Financial Data and Key Metrics Changes - Funds from Operations (FFO) and Core FFO per share remained stable at $0.34 for both Q1 2025 and Q1 2024 [14] - Total operating revenues increased to $37,500,000 in Q1 2025 from $35,700,000 in Q1 2024, while operating expenses rose to $23,900,000 from $23,300,000 [15] - Net assets increased from $1,090,000,000 to $1,160,000,000 due to acquisitions [15] Business Line Data and Key Metrics Changes - The company acquired industrial properties totaling 355,778 square feet for $73,250,000, increasing industrial concentration to 65% of annualized straight-line rent [10] - Same store rents increased by 6.6% compared to the same period in 2024, driven by higher property expense recovery revenue and rental rates [14] Market Data and Key Metrics Changes - U.S. Treasury yields remain volatile, impacting inflation and economic growth outlooks [6] - Industrial real estate sector showed resilience with net absorption of 23,100,000 square feet, matching levels from the previous year, while vacancy rates rose slightly to 7% [7][8] Company Strategy and Development Direction - The company aims to increase industrial concentration to at least 70% and continues to focus on acquiring high-quality, mission-critical industrial assets [10][12] - The strategy includes selectively disposing of non-core assets and extending lease terms to capture market opportunities [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the second quarter despite macroeconomic uncertainties and noted that the industrial sector continues to perform well [6][10] - The company is well-positioned with over $99,000,000 in availability via its line of credit and cash on hand for future acquisitions [13] Other Important Information - The company sold one office property for a gain of $377,000 and recognized a selling profit of $3,900,000 from a sales-type lease [10][21] - The common stock dividend is set at $0.30 per share per quarter, with a yield of 8.68% at the last closing price [18] Q&A Session Summary Question: What is the current acquisition pipeline and market activity for industrial properties? - Management indicated that they have approximately $70,000,000 under contract and a backlog of about $140,000,000 consisting of 10 assets, with increased competition from family offices and private equity [23][24] Question: Are sellers more willing to negotiate on price? - Management noted a combination of both increased asset availability and seller willingness to negotiate, aided by strong broker relationships [30] Question: What is the status of lease expirations for 2026 and 2027? - Management is actively working on lease expirations for 2026 and 2027, with a good handle on upcoming negotiations [34] Question: What is the situation with the Austin office property? - Management reported positive cash flow from the Austin property and ongoing efforts to increase tenancy [46] Question: Any changes in acquisition parameters due to government policy? - Management confirmed a focus on light manufacturing, which is seen as more attractive compared to warehouse distribution in the current environment [48]

Financial Data and Key Metrics Changes - Acacia recorded total revenue of $124.4 million during the first quarter, a significant increase compared to the previous year [21] - The company reported first quarter GAAP operating income of $38.3 million, compared to a GAAP operating loss of $2.1 million in the same quarter last year [24] - GAAP net income attributable to Acacia was $24.3 million or $0.25 per share, compared to a net loss of $200,000 or $0 per share in the prior year period [25] Business Line Data and Key Metrics Changes - Energy operations generated $18.3 million in revenue for the quarter, compared to $1.9 million in the same quarter last year [21] - Manufacturing operations generated $28.5 million in revenue, while industrial operations generated $7.7 million, a slight decrease from $8.8 million in the same quarter last year [22] - Intellectual property operations generated $69.9 million in licensing and other revenue, compared to $13.6 million in the same quarter last year, primarily due to a large settlement [23] Market Data and Key Metrics Changes - The company has hedged over 70% of its production through the end of 2027, providing price protection and greater cash flow predictability [11] - Approximately 51% of Benchmark's last twelve months revenue and 78% of production was driven by gas and natural gas liquids, which have remained resilient despite recent market volatility [11] Company Strategy and Development Direction - Acacia's strategy focuses on acquiring and building businesses with stable long-term cash flow generation and scalability [6] - The company is actively exploring strategic acquisitions and organic growth initiatives across its verticals, particularly in energy and industrial sectors [28] - Management is evaluating opportunities in the mature technology sector, aiming to enhance the value of its intellectual property portfolio [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Acacia's resilience amid macroeconomic uncertainties and believes the current environment presents compelling opportunities [28] - The company is optimistic about the long-term growth potential of its Deflecto business and is implementing initiatives to optimize operations [15] - Management highlighted the importance of disciplined cost management and operational excellence in navigating volatile market conditions [16] Other Important Information - Total consolidated G&A expense was $17.3 million during the first quarter, an increase from $12.5 million in the same quarter last year, primarily due to the addition of Deflecto [23] - Cash, cash equivalents, and equity securities at fair value totaled $290 million as of March 31, 2025, compared to $297 million at December 31, 2024 [26] Q&A Session Summary Question: Can you detail the total winnings from the WiFi portfolio? - Management indicated that since Q1 2023, approximately $178 million has been generated from the WiFi assets, with more value expected in the portfolio [33] Question: Are you seeing prices coming down in M&A? - Management confirmed they are looking at opportunities in energy, industrials, and mature technology, with a focus on assets that can be improved through operational efficiencies [35][36] Question: What is the calculus on protecting tax attributes versus share buybacks? - Management completed a $20 million buyback and is monitoring tax attributes to determine the optimal time for further buybacks [41] Question: Will the recent settlement pressure the defendant in the $37 million judgment case to settle sooner? - Management expressed hope that the recent settlement would encourage a quicker resolution, but could not provide a definitive answer [50]

Financial Data and Key Metrics Changes - Acacia recorded total revenue of $124.4 million during the first quarter, a significant increase compared to the same quarter last year [21] - The company reported first quarter GAAP operating income of $38.3 million, compared to a GAAP operating loss of $2.1 million in the same quarter last year [23] - GAAP net income attributable to Acacia was $24.3 million or $0.25 per share, compared to a net loss of $0.2 million or $0 per share in the prior year period [24] - Adjusted net income attributable to Acacia was $33.1 million or $0.34 per share [24] - Cash, cash equivalents, and equity securities at fair value totaled $290 million as of March 31, 2025, compared to $297 million at December 31, 2024 [25] Business Line Data and Key Metrics Changes - Energy operations generated $18.3 million in revenue for the quarter, compared to $1.9 million in the same quarter of last year [21] - Manufacturing operations generated $28.5 million in revenue [21] - Industrial operations generated $7.7 million in revenue during the quarter, a slight decrease from $8.8 million in the same quarter last year [21] - Intellectual property operations generated $69.9 million in licensing and other revenue during the quarter, compared to $13.6 million in the same quarter last year [22] Market Data and Key Metrics Changes - Benchmark's energy segment has hedged over 70% of its production through the end of 2027, providing price protection and cash flow predictability [11] - Approximately 51% of Benchmark's last twelve months (LTM) revenue and 78% of LTM production was driven by gas and natural gas liquids, which have remained resilient [11] Company Strategy and Development Direction - The company focuses on acquiring and building businesses with stable long-term cash flow generation and scalability [6] - Acacia is actively evaluating strategic acquisitions and organic growth initiatives across its verticals [27] - The company is exploring avenues to monetize its Cherokee position and is monitoring attractive M&A targets due to recent oil price softness [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Acacia's resilience amid macroeconomic uncertainties and believes the current environment presents compelling opportunities [27] - The company is focused on disciplined cost management and operational excellence to navigate volatile periods [16] - Management highlighted the strong performance driven by realized gains from the intellectual property business and the integration of Revolution assets [7][14] Other Important Information - Total consolidated G&A expense was $17.3 million during the first quarter, an increase from $12.5 million in the same quarter last year, primarily due to the addition of Deflecto [22] - The company has zero capital commitments from a drilling perspective, allowing it to remain cash flow positive even in challenging price environments [11] Q&A Session Summary Question: Can you detail the total winnings from the WiFi portfolio? - Management indicated that since Q1 2023, approximately $178 million has been generated from the WiFi assets, with ongoing cases potentially adding more value [31] Question: Are you seeing prices coming down in M&A? - Management noted they are looking at three verticals: energy, industrials, and mature technology, with ongoing evaluations of acquisition opportunities [33][34] Question: What is the calculus on protecting tax attributes versus share buybacks? - Management confirmed they completed a $20 million buyback while monitoring tax attributes to determine the optimal time for further buybacks [40] Question: Does the recent settlement put pressure on the defendant in the $37 million judgment case? - Management expressed uncertainty but hoped that the recent settlement would encourage a quicker resolution [49]

Q1 2025 EARNINGS CONFERENCE CALL Conference Call Dial-in numbers: (800) 343-5172 (domestic) (203) 518-9856 (international) Conference code: CWQ125 May 8, 2025 1 Investor Day 2024 SAFE HARBOR STATEMENT Please note that the information provided in this presentation is accurate as of the date of the original presentation. The presentation will remain posted on this website from one to twelve months following the initial presentation, but content will not be updated to reflect new information that may become av ...

Core Viewpoint - Black Diamond Group Limited has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB) for its common shares, which will commence on May 12, 2025, and is set to terminate on May 11, 2026, or upon reaching the maximum number of shares permitted under the NCIB [1][2]. Group 1: NCIB Details - The company may purchase up to 4,513,658 common shares over a 12-month period, representing 10% of the public float and approximately 7.3% of the 62,214,472 issued and outstanding common shares as of April 30, 2025 [2]. - The maximum number of common shares that can be acquired on any one trading day is 9,405, which is 25% of the average daily trading volume of 37,621 for the six months prior to the NCIB [2]. - All common shares purchased under the NCIB will be cancelled [2]. Group 2: Management's Perspective - Management believes that the market price of the common shares may not fully reflect their underlying value, making the purchase of shares an attractive investment opportunity that benefits remaining shareholders [3]. Group 3: Previous NCIB Performance - During the previous NCIB, which ends on May 9, 2025, the company was approved to purchase 4,542,945 common shares and had purchased 623,950 shares at a weighted average price of approximately $8.50 per share as of April 30, 2025 [4]. Group 4: Automatic Share Purchase Plan (ASPP) - The company has established an automatic share purchase plan (ASPP) with its designated broker to facilitate common share repurchases during regulatory restrictions or self-imposed blackout periods [5]. - Under the ASPP, the company may instruct its broker to make purchases prior to entering a blackout period, with such purchases counting towards the total number of shares purchased under the NCIB [6]. Group 5: Company Overview - Black Diamond is a specialty rentals and industrial services company operating in Canada, the United States, and Australia, with two main business units: Modular Space Solutions (MSS) and Workforce Solutions (WFS) [7]. - MSS operates a large rental fleet of modular buildings and provides services to various sectors including construction, industrial, education, financial, and government [8]. - WFS owns a rental fleet of modular accommodation assets and serves customers in resource, infrastructure, construction, disaster recovery, and education sectors, including a digital marketplace for crew accommodation and travel [9][10].