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 ...

Company Overview - JFB Construction Holdings is a construction company focused on commercial, retail, and residential property development [1] - The company has a strong reputation built on client trust, with most projects obtained through referrals and repeat customers [6] - JFB has provided general contracting and construction management services in 36 U.S. states [6] Leadership Appointment - Jesus Rolon has been appointed as Chief Construction Officer, effective May 5, 2025 [1] - Rolon brings over 25 years of experience in the design and construction of various facilities, including quick serve and casual restaurants, big box retail, and health and fitness facilities [2] - Prior to joining JFB, Rolon was the director of design and construction for Planet Fitness Corporate, managing a capex budget of $44 million [3] Strategic Goals - Rolon is expected to play a key role in expanding JFB's commercial construction division [4] - The company aims to leverage Rolon's bilingual skills and extensive knowledge of the commercial construction industry to navigate corporate franchise requirements [4] Company Experience - JFB has generations of combined experience in residential and commercial construction, having built multifamily communities, shopping centers, and over 2 million square feet of commercial and retail space [5]

Core Viewpoint - VINCI successfully placed a tap issue of non-dilutive convertible bonds amounting to €150 million, which will be fully assimilated with its existing €400 million non-dilutive convertible bonds due in February 2030 [1][3]. Group 1: Bond Issuance Details - The initial tap issue amount was increased from €125 million to €150 million due to strong investor demand [2]. - The New Bonds will be issued under the same terms as the Original Bonds, with the settlement date expected on 6 May 2025 [3][7]. - The initial issue price of the New Bonds is set at 106.45% of their nominal value, with adjustments based on VINCI's share price over a specified period [6]. Group 2: Hedging and Corporate Use - VINCI will purchase cash-settled call options on its own shares to hedge against potential dilution from the conversion rights attached to the New Bonds [4]. - The net proceeds from the New Bonds will be utilized for general corporate purposes and the purchase of the New Options [5]. Group 3: Offering Process and Restrictions - The New Bonds are being offered through an accelerated book building process to institutional investors only, with no public offering in certain jurisdictions [11][21]. - VINCI has agreed to a lock-up period concerning its shares and equity-linked securities for 60 days post-settlement [9].

Core Insights - The U.S. construction sector is experiencing a deceleration, influenced by high borrowing costs, labor shortages, material price volatility, and regulatory complexity [1] Group 1: Sector Performance - Public sector investments in infrastructure and manufacturing have supported growth, while residential remodeling and selective new home construction have posed challenges [1] - The construction sector's total earnings have decreased by 20% year-over-year, with revenues down by 4.2% [2] - Approximately 35.3% of the construction sector's market capitalization on the S&P 500 Index has reported earnings, with 57.1% beating EPS estimates and 42.9% surpassing revenue estimates [2] Group 2: Influencing Factors - Federal spending through the Infrastructure Investment and Jobs Act (IIJA) has been a significant tailwind, particularly in transportation, water infrastructure, and broadband projects [3] - Industrial construction projects related to the CHIPS Act and Inflation Reduction Act have also contributed to growth, focusing on semiconductor fabs, EV battery plants, and clean energy facilities [3] Group 3: Residential Market Challenges - The residential construction market faces high mortgage rates, seasonal impacts, inflationary pressures, and rising costs, which have negatively affected performance [4] - Homebuilders are under pressure due to increased incentives and lower average selling prices, impacting margins [4] Group 4: Commercial Construction Insights - The commercial construction market shows mixed but resilient performance, with industrial and warehouse projects benefiting from e-commerce and supply chain reshoring [5] - Data center construction is gaining traction due to cloud computing and AI infrastructure needs, while hospitality construction is recovering alongside rebounding travel [5] Group 5: Q1 Earnings Expectations - The construction sector is expected to see a 12.8% decline in earnings for Q1, a decrease from the previous quarter's growth of 1.1% [6] - Revenues are projected to decline by 3.3%, indicating a slowdown from the prior quarter's growth of 1.6% [6] Group 6: Company Highlights - Dream Finders Homes is expected to report a first-quarter EPS of 61 cents, reflecting a 10.9% growth year-over-year [11] - Primoris Services anticipates a first-quarter EPS of 72 cents, representing a 53.2% increase from the previous year [13] - Potlatch is projected to report a first-quarter EPS of 20 cents, improving from break-even earnings a year ago [14] - Martin Marietta Materials expects a first-quarter EPS of $1.92, a slight decline from the previous year [15] - MasTec is likely to report a first-quarter EPS of 34 cents, indicating a significant 361.5% growth year-over-year [16]