Ribbon Communications (NasdaqGS:RBBN) Q3 2025 Earnings Call October 22, 2025 04:30 PM ET Company ParticipantsBruce McClelland - CEOFahad Najam - SVP of Corporate Strategy and Investor RelationsJohn Townsend - CFOConference Call ParticipantsMichael Genovese - AnalystDave Kang - AnalystRustam Kanga - AnalystNone - Analyst 1Tim Savageaux - AnalystChristian Schwab - AnalystRyan Koontz - AnalystOperatorGreetings, and welcome to the Ribbon Communications Third Quarter 2025 Financial Results Conference Call. At th ...

Viking Therapeutics (NasdaqCM:VKTX) Q3 2025 Earnings Call October 22, 2025 04:30 PM ET Company ParticipantsBrian Lian - President and CEOHardik Parikh - Equity Research of U.S. Pharma and BiotechKushal Patel - Senior AssociateRyan Deschner - Research Associate in Biotechnology SectorGreg Zante - CFOAnnabel Samimy - Managing DirectorStephanie Diaz - Manager of Investor RelationsConference Call ParticipantsSteve Seedhouse - Biotech Research AnalystJay Olson - Research AnalystAndy Hsieh - Biotech Research Anal ...

Financial Data and Key Metrics Changes - The company reported a 6% increase in EBITDA and a 16% growth in adjusted EPS year-on-year, reflecting strong underlying business performance and successful execution of growth projects [11][19][20] - Net income attributable to the company was $628 million, with EPS at $0.28 per share, consistent with the third quarter of 2024 [19] - The net debt to adjusted EBITDA ratio improved to 3.9 times, down from 4.1 times at the end of the first quarter [21][22] Business Line Data and Key Metrics Changes - The natural gas segment, which constitutes two-thirds of the business, outperformed its budget, with transport volumes up 6% compared to the third quarter of 2024 [11][15] - Natural gas gathering volumes increased by 9% year-on-year, with significant contributions from the Haynesville and Eagle Ford systems [15] - Refined product volumes decreased by 1% in the quarter compared to the previous year, while crude and condensate volumes fell by 3% [16] Market Data and Key Metrics Changes - The company transports over 40% of the natural gas in the U.S., including significant volumes to LNG export facilities and Mexico [12][13] - Internal projections estimate a 28 BCF per day increase in natural gas demand by 2030, driven by LNG exports and power generation [12][13] Company Strategy and Development Direction - The company emphasizes its long-term strategy focused on natural gas transportation, with over $9 billion in approved projects aimed at expanding pipeline and terminal networks [9][10] - The company is actively pursuing over $10 billion in potential projects, primarily in natural gas, indicating strong demand for its services [12][27] - The company aims to maintain a disciplined approach to capital deployment, with a backlog multiple below six times [11][12] Management's Comments on Operating Environment and Future Outlook - Management highlighted the significant growth in LNG feed gas demand, expecting demand to double between 2024 and 2030 [4][5] - The company remains confident in its strategy and execution, anticipating strong cash flow benefits from tax reforms and a favorable regulatory environment [22][23] - Management noted that while the base business is relatively flat, capital projects will drive substantial growth in EBITDA and EPS for years to come [10][11] Other Important Information - The company declared a quarterly dividend of $0.2925 per share, representing a 2% increase over the previous year [19] - The company is exploring opportunities to expand its gas infrastructure to meet growing demand, particularly in the power generation sector [16][47] Q&A Session Summary Question: What has driven the improved outlook for the $10 billion opportunity set? - Management indicated that the opportunities are primarily in natural gas, supporting LNG exports and power generation, with projects across the southern U.S. [27] Question: How does the Western Gateway project compare to Oneok's competing project? - Management explained that the Western Gateway project would provide additional capacity to serve the growing Arizona market and connect to California and Las Vegas [31] Question: What is the competitive landscape for Kinder Morgan? - Management acknowledged that while competition exists, the company's existing footprint and track record of delivering projects on time and on budget provide a competitive advantage [38] Question: What is the outlook for the CO2 business? - Management expressed interest in supplying CO2 but emphasized the need for a thorough risk-return analysis before considering investments in new technologies [110][111] Question: How does the company view the refined products market in California? - Management refrained from speculating on the California market but noted that the Western Gateway pipeline could adapt to changes in demand [94]

Financial Data and Key Metrics Changes - The company reported a solid third-quarter performance with a 5.2% organic growth, translating to an increase of $52 million, despite a $51 million unfavorable impact from Sprint cancellations [12][14] - The updated full-year 2025 outlook includes increases of $10 million in site rental revenues, $30 million in adjusted EBITDA, and $40 million in AFFO [13][14] - A $15 million decrease in interest expense was noted, primarily due to lower than expected floating rates [14] Business Line Data and Key Metrics Changes - The tower business showed strong performance, with organic growth driven by continued demand for assets, although impacted by Sprint cancellations and non-cash revenue adjustments [12][14] - The company expects a $40 million increase in AFFO, attributed to higher services activity and reduced expenses [13] Market Data and Key Metrics Changes - Mobile data demand in 2024 increased by over 30% for the third consecutive year, indicating strong long-term demand for tower assets [6][8] - The FCC plans to auction at least 800 megahertz of additional spectrum starting in 2027, which is expected to create significant opportunities for tower operators [8] Company Strategy and Development Direction - The company aims to become a best-in-class U.S. tower operator, focusing on maximizing cash flow and organic growth while enhancing profitability [9][11] - Strategic priorities include improving asset information accessibility, streamlining processes, and driving operational efficiencies [9][10] - Following the fiber business sale, the company plans to grow dividends in line with AFFO while maintaining a payout ratio of 75% to 80% [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the wireless communications infrastructure industry, citing solid fundamentals and customer demand [6][11] - The company is focused on unlocking value from existing assets and enhancing operational efficiency, particularly post-fiber sale [20][21] Other Important Information - The fiber segment results are reported as discontinued operations, and the company’s financial outlook does not include contributions from this segment [3][4] - The company is committed to maintaining an investment-grade credit rating while repurchasing shares after paying dividends and pursuing organic investments [10] Q&A Session Summary Question: Growth opportunities with existing customers and efficiency gains from divesting fiber operations - Management emphasized unlocking revenue and profitability from the existing portfolio and focusing on efficiency improvements post-fiber sale [20][21] Question: Update on the relationship with EchoStar - Management confirmed a solid agreement with EchoStar, expecting to be paid per the terms of the contract [21] Question: Impact of AT&T's deployment of EchoStar spectrum - Management noted that while they cannot comment on specific carriers, increased spectrum deployment generally favors the tower sector [25] Question: Changes in carrier densification plans - Management reported no material changes in leasing demand, indicating a strong environment for their assets [28] Question: Contribution of DISH to revenue and future guidance - Management indicated that DISH represents about 5% of tower revenues and expressed confidence in the existing contract [34] Question: Cost efficiency program and margin comparisons with peers - Management highlighted ongoing efforts to drive efficiencies and the potential for improved margins through system implementations and process automation [66] Question: Discretionary CapEx guidance decrease - Management explained that the decrease was due to timing, with expenditures pushed to the next year rather than fundamental changes [72]

Goosehead Insurance (NasdaqGS:GSHD) Q3 2025 Earnings Call October 22, 2025 04:30 PM ET Speaker1Today, everyone, and welcome to Goosehead Insurance's third quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To participate, you will need to press star 11 on your telephone. You will then hear a message advising your hand is raised. To withdraw your question, simply press star 11 again. P ...

Goosehead Insurance (NasdaqGS:GSHD) Q3 2025 Earnings Call October 22, 2025 04:30 PM ET Speaker0Good day, everyone, and welcome to Goosehead Insurance Third Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. Please note that this conference is being recorded. Now it's my pleasure to turn the call over to Dan Farrell.Please go ahead.Speaker1Thank you, and good afternoon. B ...

Financial Data and Key Metrics Changes - EBITDA increased by 6% year-on-year, while adjusted EPS grew by 16% [9] - Net income attributable to Kinder Morgan was $628 million, with EPS of $0.28 per share, consistent with the third quarter of 2024 [17] - The net debt to adjusted EBITDA ratio improved to 3.9 times, down from 4.1 times at the end of the first quarter [18] Business Line Data and Key Metrics Changes - Natural gas segment, which constitutes two-thirds of the business, outperformed its budget, with transport volumes up 6% and gathering volumes up 9% year-on-year [13][14] - Refined product volumes decreased by 1% compared to the third quarter of 2024, while crude and condensate volumes were down 3% [14] - The terminals business segment maintained high liquids lease capacity at 95% [15] Market Data and Key Metrics Changes - The company transports over 40% of the natural gas in the U.S., including significant volumes to LNG export facilities and power plants [10][11] - Internal projections estimate a 28 BCF per day increase in natural gas demand by 2030, primarily driven by LNG exports and power generation [11] Company Strategy and Development Direction - Kinder Morgan's long-term strategy focuses on capitalizing on the growing demand for natural gas, particularly in LNG and power generation sectors [3][7] - The company has a $9.3 billion expansion backlog and is pursuing over $10 billion in potential projects, primarily in natural gas [10][12] - The company aims to maintain a healthy dividend while funding growth projects internally [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strategy and execution, anticipating double-digit earnings growth for 2025 [19] - The company expects to exceed its 2025 budget, driven by strong demand and contributions from expansion projects [19] - Management highlighted the supportive regulatory environment for project approvals [7] Other Important Information - The company declared a quarterly dividend of $0.2925 per share, representing a 2% increase over the previous year [17] - The Outrigger acquisition contributed positively to the company's performance, although lower D3 RIN prices and RNG volumes impacted results [9][17] Q&A Session Summary Question: What has driven the improved outlook for the $10 billion opportunity set? - Management indicated that the opportunities are primarily in natural gas, supporting LNG exports and power generation, with projects across the southern U.S. [22] Question: Can you discuss the Western Gateway project's positioning relative to competitors? - Management explained that the Western Gateway project would enhance capacity for the growing Arizona market and provide additional barrels to California [25][26] Question: How does Kinder Morgan view its competitive positioning in the market? - Management acknowledged competition but emphasized the company's existing footprint and track record of delivering projects on time and on budget as key advantages [32] Question: What is the outlook for the 2026 growth rate? - Management stated it is too early to predict specific growth rates for 2026 but highlighted potential tailwinds from expansion projects and favorable tax conditions [59] Question: How does the company plan to finance its expansion projects? - Management expressed confidence in the ability to finance expansions through free cash flow and balance sheet capacity, indicating no concerns about accessing capital [63]

Financial Data and Key Metrics Changes - The third quarter revenue, excluding fuel surcharge, increased by 2.4% year-over-year, while operating income declined by $31.1 million or 38.2% year-over-year due to $58 million of unusual items [13][14] - Adjusted EPS for Q3 2025 was $0.32, a 5.9% decrease from $0.34 in Q3 2024, primarily impacted by a $0.10 negative effect from loss contingency and claims accruals [14][28] - The consolidated adjusted operating ratio was 93.8%, flat year-over-year and sequentially [14] Business Line Data and Key Metrics Changes - The LTL segment revenue, excluding fuel surcharge, increased by 21.5% year-over-year, with shipments per day up 14.2% [19][20] - The truckload segment experienced a revenue decline of 2.1% year-over-year, driven by a 2.3% decrease in loaded miles [17] - The logistics segment's revenue declined by 2.2% year-over-year, with a 6.2% decrease in load count, partially offset by a 3.6% increase in revenue per load [23] Market Data and Key Metrics Changes - The freight markets are still grappling with uncertainty, with many shippers hesitant to take risks, leading to deviations from normal seasonal patterns [4][5] - There are signs of reduced capacity availability due to regulatory enforcement, which may impact supply-demand dynamics in 2026 [9][24] Company Strategy and Development Direction - The company is adopting the AAA Cooper brand across its entire LTL business to enhance revenue capture and leverage tech-enabled services [10] - The strategy includes building diversification and enhancing revenue synergies across brands and lines of service [16] - The company is focused on disciplined pricing, intense cost control, and quality service to navigate the current market conditions [19] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding expectations for Q4 due to uncertainties in volume build and demand trends [5][6] - The company anticipates opportunities for margin growth in a stronger market, supported by improvements in cost structure during the down cycle [9][10] - Management noted that while there is some softness in LTL demand, bid discussions are encouraging, and they expect to manage costs effectively [41][42] Other Important Information - The company reported $58 million in unusual items affecting GAAP results, including trade name impairments and higher insurance costs [12][13] - The effective tax rate for GAAP results was 47%, significantly higher year-over-year, while the non-GAAP effective tax rate was 29.6% [14][15] Q&A Session Summary Question: Clarification on adjusted EPS and regulatory impacts on capacity - Management confirmed that the adjusted EPS of $0.32 reflects historical reporting patterns and discussed the potential impacts of regulatory enforcement on capacity availability [31][33][34] Question: Insights on LTL demand and synergy opportunities - Management acknowledged softer demand in LTL but highlighted encouraging bid discussions and the potential for synergies between truckload and LTL operations [41][46] Question: Update on capacity tightness and bid season for 2026 - Management indicated that current guidance does not reflect capacity tightness and provided insights into ongoing bid discussions for 2026 [78]

Financial Data and Key Metrics Changes - Marina Bay Sands (MBS) delivered EBITDA of $743 million, exceeding the forecast of $2.5 billion annually, with a current year-to-date EBITDA of over $2.1 billion [4][9] - Macao reported EBITDA of $601 million for the quarter, with a negative impact of approximately $20 million due to Typhoon [5][7] - The EBITDA margin for the Macao portfolio properties was 31.5%, down 160 basis points compared to Q3 2024 [7] Business Line Data and Key Metrics Changes - MBS's mass gain in slot win reached a record $905 million, reflecting a 122% growth from Q3 2019 and a 35% increase from last year [4] - Mass market revenue in Macao increased by 25.4% this quarter, up from 23.6% in Q1 2025 [5] - The Londoner is approaching $1 billion in EBITDA, indicating growth opportunities across the Macao property portfolio [5] Market Data and Key Metrics Changes - The overall Macao market's Gross Gaming Revenue (GGR) is growing, which is critical for achieving targeted EBITDA figures [5][16] - The base mass per table in Macao grew by 18% year-on-year, with premium mass growing faster at 11% [41] Company Strategy and Development Direction - The company is focused on adapting its marketing strategies to be more competitive in the Macao market, which has seen underperformance in recent years [5][19] - The introduction of smart table technology in Singapore has enhanced the gaming experience and increased betting opportunities, which the company plans to roll out in Macao [8][30] - The company is committed to returning capital to shareholders through stock repurchases and increased dividends, with a 20% increase in quarterly dividends approved for 2026 [9][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the sustainability of growth in Singapore, indicating that the market is not solely dependent on special events [58][60] - The company anticipates that market growth is essential for improving Macao's performance, with expectations for continued share gains and EBITDA growth [5][16] - Management acknowledged the need for ongoing adaptation to market dynamics and competitive pressures [72] Other Important Information - The company repurchased $500 million in LVS stock during the quarter and increased its ownership percentage of SCL to 74.76% [9] - The company is investing $8 billion to continue growing its presence in Singapore, signaling a long-term commitment to the market [67] Q&A Session All Questions and Answers Question: Inquiry about the hold rate in Singapore and potential for mass hold increase - Management indicated that while the hold rate for VIP has been raised, they are not yet ready to provide data on mass hold due to the mix of games and betting preferences [12][13] Question: Discussion on the path back to targeted EBITDA in Macao - Management stated that achieving the target of $2.7 to $2.8 billion in EBITDA is dependent on market growth, which is currently being experienced [14][15] Question: Clarification on the impact of smart table technology on betting behavior - Management explained that the smart table technology serves as a scorekeeper and that the increase in betting behavior is due to the game itself offering more opportunities for side bets [22][24] Question: Comments on the competitive landscape and reinvestment strategy - Management noted that competition remains intense, and they are focused on responding to market changes with appropriate marketing strategies [71][72] Question: Inquiry about potential opportunities in the UAE - Management stated that while the UAE is a significant tourism market, it is not currently a focus for the company [54] Question: Discussion on the impact of events like the NBA China Games in Macao - Management acknowledged the importance of events but emphasized that the overall strategy is focused on enhancing the customer experience and adapting to market demands [92]

ASGN (NYSE:ASGN) Q3 2025 Earnings Call October 22, 2025 04:30 PM ET Speaker2Greetings and welcome to the ASGN Incorporated Third Quarter 2025 Earnings Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. It is now my pleasure to introduce your host, Kimberly Esterkin of Investor Relations. Thank you. You may begin.Speaker3Good afternoon. ...