Intercorp Financial Services (NYSE:IFS) Q3 2025 Earnings Call November 07, 2025 09:00 AM ET Speaker1Good morning and welcome to Intercorp Financial Services' third quarter 2025 conference call. All lines have been placed on mute to prevent any background noise. Please be advised that today's conference is being recorded. After the presentation, we'll open the floor to questions. At that time, instructions will be given as to the procedure to follow if you would like to ask a question. Also, you can submit o ...

Financial Data and Key Metrics Changes - For the September quarter, the company's net investment income (NII) was $79.4 million, equating to $0.17 per common share, with a net asset value of $3 billion or $6.45 per common share [4] - The net debt to total assets ratio stood at 28.2%, with unsecured debt plus unsecured perpetual preferred accounting for 80.8% of total debt plus preferred [4] - Monthly common shareholder distributions of $0.045 per share were announced for November, December, and January, totaling over $4.6 billion distributed since the IPO [4] Business Line Data and Key Metrics Changes - The company has increased its focus on first lien senior secured middle market loans, with the first lien mix rising by 701 basis points to 71.1% from June 2024 [5] - The second lien senior secured middle market loans mix decreased by 292 basis points to 13.5%, while subordinated structured notes decreased by 808 basis points to 0.3% [5][8] - Investments during the quarter included a new investment in The Ridge, a healthcare services provider, and follow-on investments in existing portfolio companies [8] Market Data and Key Metrics Changes - As of September 2025, the company held 92 portfolio companies across 32 different industries, with an aggregate fair value of $6.5 billion [7] - The middle market lending strategy represented 85% of investments at cost, an increase of 864 basis points from June 2024 [7] - The real estate property portfolio at National Property REIT Corp represented 14% of investments at cost, with an unlevered investment level gross cash IRR of 24% since inception [9] Company Strategy and Development Direction - The company is repositioning its business by rotating assets into first lien senior secured loans and focusing on companies with less than $50 million of EBITDA, where competition is lower [5][10] - Future asset sale proceeds are expected to be redeployed primarily into more first lien senior secured loans and selected equity-linked investments [10] - The company aims to enhance portfolio company operations and utilize a cost-efficient floating rate revolver [6] Management's Comments on Operating Environment and Future Outlook - Management highlighted a strong recurring revenue profile, with interest income making up 97% of total investment income [10] - Non-accruals as a percentage of total assets stood at approximately 0.7% based on fair market value, indicating a focus on capital preservation [10] - The company is optimistic about the future, focusing on smaller companies in the lower middle market to achieve higher yields [21] Other Important Information - The company completed the institutional issuance of approximately $168 million in senior unsecured notes due 2030, primarily for refinancing existing indebtedness [12] - As of September, the combined balance sheet cash and undrawn revolving credit facility commitments stood at $1.5 billion, with $4.2 billion of unencumbered assets [12] - The weighted average cost of unsecured debt financing was 4.54% as of September 30, 2025 [13] Q&A Session Summary Question: Inquiry about equity-linked rotation and consumer finance holdings - Management indicated a preference for first lien and senior secured loans, with a focus on optimizing the portfolio by evaluating each investment based on foregone yield and IRR [16][19] - The company is actively rotating appreciated assets into more income-producing properties, particularly in real estate, while maintaining a thoughtful approach to asset sales [20][22] Question: Discussion on the Israeli bond and unsecured financing - Management confirmed that the Israeli bond issuance is a new channel and not a one-off, with plans to continue expanding their presence in diversified financing [29][30] - The company emphasized the importance of diversified funding sources to mitigate counterparty risk and maintain a strong credit profile [32][33]

Financial Performance - Net income decreased from $195.3 million in 2Q25 to $164.2 million in 3Q25[5] - Annualized Return on Equity (ROE) decreased from 13.8% in 2Q25 to 11.5% in 3Q25[5] - Shareholders' equity remained constant at $5.7 billion in both 2Q25 and 3Q25[5] - The combined ratio for the Mortgage Insurance segment increased from 22.1% in 2Q25 to 33.9% in 3Q25[5] - Book value per share grew to $58.86 as of September 2025, with an annualized growth rate of 18.1% since December 31, 2013[10] Portfolio and Risk Management - Insurance In Force (IIF) increased from $246.8 billion in 2Q25 to $248.8 billion in 3Q25[5] - New Insurance Written (NIW) slightly decreased from $12.5 billion in 2Q25 to $12.2 billion in 3Q25[5] - Portfolio default rate increased from 2.12% in 2Q25 to 2.29% in 3Q25[5] - 97% of the Insurance In Force (IIF) is subject to reinsurance protection as of September 30, 2025[5, 32, 35] Capital and Liquidity - PMIERs Sufficiency Ratio was 177% in 3Q25[5] - Risk-to-Capital Ratio improved from 9.2:1 in 2Q25 to 8.9:1 in 3Q25[5] - The company has $5.7 billion in GAAP Equity as of September 30, 2025[34] - Available liquidity at the holding companies is $1.0 billion, with an additional $500 million in undrawn capacity with the credit facility as of September 30, 2025[34]

Financial Performance - Net investment income increased to $993,000 from $887,000 in Q3 2024, supported by lower expenses[9] - Total expenses reduced to $596,000 from $1.3 million in the prior-year period, driven by lower incentive fees, interest expense and base management fees[9] - Total investment income decreased by 29% year-over-year[27] - Adjusted expenses decreased 42% to $596,000 in Q3 2025, excluding capital gains incentive fees[28] - $617,000, or 39% of total investment income, was attributable to non-cash PIK interest in Q3 2025 compared with 24% in the prior-year period[29] Portfolio Activity - Funded $2.9 million in new and follow-on investments during Q3[9] - New investment of $2.5 million was made, including a $2.25 million term loan and a $250,000 equity investment[17] - Received $7.6 million in principal repayment[19] - Exited investment with repayment of $713,000 in loan principal and recognition of a $77,000 realized loss[19] - Recognized a $2.9 million realized loss on the investment in Tilson Technology Management, Inc[19] Portfolio Composition - The fair value of the investment portfolio was $44.3 million[20] - Annualized weighted average yield of debt investments, including PIK interest, was 12.2% at September 30, 2025[15] - Top five portfolio investments totaled $21.8 million, representing 49% of the total portfolio[22] Liquidity and Capital - Maintained strong liquidity of ~$28 million with no outstanding borrowings[9] - $9.5 million in cash, up from $835,000 at year-end 2024[35] - $18.3 million available credit capacity[35]

Q3 2025 Earnings Presentation November 6, 2025 NYSE: MNR machnr.com Disclaimer and Forward-Looking Statements This presentation is being provided by Mach Natural Resources LP (the "Company") for informational purposes only. No persons have been authorized to make any representations regarding the information contained in this presentation, and if given or made, such representations should not be considered as authorized. None of the Company, its respective affiliates or any of its or their respective employ ...

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Conference Call 3Q25-Results Disclaimer and Forward-Looking Statement This presentation may contain forward-looking statements within the meaning of federal securities law that are subject to risks and uncertainties. These statements are only predictions based upon our current expectations and projections about possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminol ...

November 7, 2025 | 10:00 a.m. ET Forward-Looking Statements Certain written statements included herein and/or oral statements made in connection with the presentation contained herein constitute "forward-looking information" within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collec ...

Celanese (NYSE:CE) Q3 2025 Earnings Call November 07, 2025 09:00 AM ET Speaker1Greetings. Welcome to the Celanese Corporation Third Quarter 2025 conference call. At this time, all participants are in a listen-only mode. The question-and-answer session will follow the prepared remarks. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I would now like to turn the conference over to Bill Cunningha ...

Financial Performance & Outlook - DTI's Q3 2025 revenue reached $38.8 million, reflecting a broad scope and scale[13] - Q3 2025 Adjusted Free Cash Flow was $5.6 million, demonstrating resilience in a lower rig count environment[13] - The company anticipates revenue between $145 million and $165 million for FY 2025[94] - Adjusted EBITDA for FY 2025 is projected to be between $32 million and $42 million, with an Adjusted Free Cash Flow between $14 million and $19 million[94] Geographic Expansion - Western Hemisphere accounted for 85% of Q3 2025 revenue, supported by 15 service and support facilities[13] - Eastern Hemisphere contributed 15% to Q3 2025 revenue, facilitated by 11 service and support facilities[13] - The company expects to double revenue contribution from the Eastern Hemisphere in FY 2025[95] Customer Base & Tool Rental - E&P Operators make up 47% of DTI's customers, Oilfield Service Companies account for 48%, and Other customers represent 5%[24] Strategic Acquisitions & Synergies - DTI achieved 100% of the $45 million in previously announced SDPI synergies by August 2025[56]