Core Insights - INNOVATE Corp. reported a consolidated revenue of $274.2 million for Q1 2025, a decrease of 13.0% compared to $315.2 million in Q1 2024, primarily driven by the Infrastructure segment [2][8] - The company experienced a net loss attributable to common stockholders of $24.8 million, or $1.89 per share, compared to a net loss of $17.7 million, or $2.21 per share, in the prior year [2][12] - Adjusted EBITDA for Q1 2025 was $7.2 million, down 43.8% from $12.8 million in Q1 2024, reflecting challenges in both the Life Sciences and Infrastructure segments [2][14] Infrastructure Segment - DBM Global reported Q1 2025 revenue of $264.9 million, a decrease of 14.0% from $307.9 million in the prior year [4][9] - The adjusted backlog for DBM Global increased to $1.4 billion, up from $1.0 billion as of December 31, 2024, indicating strong project acquisition [5][4] - Gross margin improved to 15.6%, an increase of approximately 110 basis points year-over-year, while adjusted EBITDA margin rose to 6.3%, an increase of approximately 40 basis points [4][5] Life Sciences Segment - MediBeacon's Transdermal GFR System received FDA approval, enhancing growth prospects in the Life Sciences segment [3][10] - R2 Technologies reported a revenue of $3.1 million, a 210% increase compared to $1.0 million in the prior year, driven by increased unit sales [10][3] - The Life Sciences segment's adjusted EBITDA was negative at $(8.7) million, a decrease from $(4.2) million in the prior year, primarily due to higher equity method losses from MediBeacon [14][12] Spectrum Segment - The Spectrum segment reported revenue of $6.2 million, slightly down from $6.3 million in the prior year [10][9] - The company is exploring commercial opportunities in datacasting, with expectations to generate revenue by the end of 2025 [10][3] Financial Performance - Total adjusted EBITDA for Q1 2025 was $7.2 million, down from $12.8 million in Q1 2024, primarily due to declines in the Life Sciences and Infrastructure segments [14][12] - The company had cash and cash equivalents of $33.3 million as of March 31, 2025, down from $48.8 million at the end of 2024 [14][30] - The total liabilities increased to $1,036.9 million as of March 31, 2025, compared to $1,034.8 million at the end of 2024 [30][31]

Headlined by Steve Wozniak, Unbound 2025 will offer hands-on training, expert-led sessions, and a deep dive into the technologies shaping the future of AEC. PASADENA, Calif., May 06, 2025 (GLOBE NEWSWIRE) -- Bluebeam, a leading developer of solutions and services for architecture, engineering and construction (AEC) professionals worldwide and a part of the Nemetschek Group, is hosting its inaugural Unbound conference, taking place September 30 through October 2, 2025, at the Washington Hilton in Washington ...

NEW YORK, May 05, 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://zlk. ...

Core Points - Pierre Anjolras has been appointed as the Chief Executive Officer of VINCI as of May 1, 2025, and chaired his first Executive Committee meeting on May 5, 2025 [2] - Sabine Granger and Rémi Maumon de Longevialle have been appointed to VINCI's Executive Committee, with Granger serving as the Chief Executive Officer of VINCI Autoroutes and Maumon de Longevialle as the Chief Executive Officer of VINCI Airports [2][3][4] Company Overview - VINCI is a global leader in concessions, energy solutions, and construction, employing 285,000 people across more than 120 countries [9] - The company focuses on designing, financing, building, and operating infrastructure and facilities that enhance daily life and mobility [9] VINCI Autoroutes - VINCI Autoroutes operates a network of 4,443 km of motorways in France, serving over 2.5 million customers daily, which can increase to 4 million during summer [5] - The company is committed to transforming its motorway infrastructure into a low-carbon model in response to climate change [7] VINCI Airports - VINCI Airports is the leading private airport operator globally, managing over 70 airports in 14 countries [8] - The company aims to achieve zero net emissions (scope 1 and 2) across its network by 2050, supporting local climate transitions [8]

Since the start of 2025, the United States construction sector has been navigating through choppy waters, hit by several unfavorable market factors, including a still-high mortgage rate scenario and an unhinged interest rate environment. With the 30-year mortgage rate lingering between 6.9% and 6.7% (during the January-March 2025 period), reaching as high as 7.04% for the week ending on Jan. 16, 2025, the residential construction market is likely to have remained soft, mainly for the multi-family starts. Ho ...

Core Insights - CNH Industrial reported first-quarter 2025 adjusted earnings per share (EPS) of 10 cents, down from 33 cents in the prior-year quarter, but above the Zacks Consensus Estimate of 9 cents [1] - Consolidated revenues for the first quarter declined nearly 21% year over year to $3.82 billion, exceeding the Zacks Consensus Estimate of $3.79 billion [1] Segmental Performance - Agriculture segment net sales fell 23% year over year to $2.58 billion, missing the estimate of $2.62 billion, with adjusted EBIT down 64% to $139 million, also below the estimate of $237.6 million [2] - Construction segment sales declined 22% year over year to $591 million, missing the estimate of $592.1 million, with adjusted EBIT down 73% to $14 million, below the estimate of $26.1 million [3] - Financial Services segment revenues decreased 5% to $651 million, surpassing the estimate of $536.7 million, while net income fell to $90 million from $118 million in the prior year [4] Financial Overview - As of March 31, 2025, CNH Industrial had cash and cash equivalents of $1.7 billion, down from $3.19 billion as of December 31, 2024 [4] - Total debt was $26 billion as of March 31, 2025, down from $26.9 billion as of December 31, 2024 [5] - The company reported negative free cash flow from industrial activities of $567 million in the quarter, an improvement from negative free cash flow of $1.21 billion in the first quarter of 2024 [5] Guidance Updates - For 2025, Agriculture sales are expected to decrease by 12-20%, with adjusted EBIT margin projected between 7-9%, revised from the previous guidance of 8.5-9.5% [6] - Construction segment sales are expected to decline by 4-15%, with adjusted EBIT margin expected between 2-4%, down from the earlier guidance of 4-5% [6] - Free cash flow from industrial activities is now expected in the range of $100-$500 million, revised from $200-$500 million, and adjusted EPS is expected between 50 cents and 70 cents, down from 65-75 cents [7]

Financial Data and Key Metrics Changes - First quarter adjusted EBITDA was $591 million, an increase from $544 million in the prior period [18] - Adjusted EFO for the quarter was $345 million, which included a $114 million net gain from the sale of an offshore oil services operation [18] - The company ended the quarter with liquidity of approximately CAD 2.3 billion at the corporate level [20] Business Line Data and Key Metrics Changes - The Industrial segment generated adjusted EBITDA of $304 million, benefiting from tax benefits and contributions from a newly acquired electric heat tracing manufacturer [18] - 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 [19] - 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 [20] 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] - Growth in Europe has lagged behind the U.S., but there are signs of a pro-growth agenda from governments [8] - India and the Gulf countries are highlighted as bright spots in the global economy, providing a conducive deal-making environment [8] Company Strategy and Development Direction - The company aims to own market-leading businesses and enhance their performance and cash flows, focusing on capital recycling initiatives and strategic acquisitions [5][6] - The strategy includes adapting to economic cycles and leveraging operational capabilities to create value [6][10] - The company is exploring opportunities in digitalization and relocalization as key growth themes [6][8] Management's Comments on Operating Environment and Future Outlook - Management acknowledges potential impacts from tariffs and global economic growth but remains confident in the resilience of their businesses [12][16] - The company is preparing for a more uncertain outlook over the next 12 to 18 months, focusing on operational capabilities and cost optimization [16][17] - Management believes that the long-term impacts of U.S. trade policy could be positive for their businesses [16] Other Important Information - The company has initiated a $250 million share repurchase program, returning $140 million to shareholders so far [5][21] - The acquisition of Antilia Scientific is expected to enhance the company's manufacturing and commercial strategy [9] Q&A Session Summary Question: Impact of tariffs on Dexco's EBITDA - Management indicated that while there are signs of recovery in North America, the market remains muted, and 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 soon [27][28] Question: Plans for returning capital to shareholders - Management stated they are always looking for monetization opportunities and would consider expanding the share buyback program if further realizations occur [29][30] Question: Realignment at Scientific Games - Management highlighted significant opportunities in digitizing the lottery ecosystem and has appointed a new head of digital to drive this initiative [35][36] Question: Participation in Barclays payments business - Management confirmed participation in the Barclays investment, aligning with their strategy in financial infrastructure [37][38] Question: Performance of Unidos in Brazil - Management reported stable performance in fleet management and car rental, with positive cash flow despite rising interest rates [49][52] Question: Actions to manage tariff impacts - Management is actively implementing pricing actions and cost optimization initiatives to mitigate tariff impacts, particularly in Clarios and Dexco [56][57]

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]