West Fraser Timber Co. Ltd. (NYSE:WFG) Q1 2025 Earnings Conference Call April 23, 2025 10:00 AM ET Company Participants Sean McLaren – President and Chief Executive Officer Chris Virostek – Senior Vice President and Chief Financial Officer Matt Tobin – Senior Vice President of Sales and Marketing Conference Call Participants Ketan Mamtora – BMO Capital Markets Sean Steuart – TD Cowen Hamir Patel – CIBC Capital Markets Matthew McKellar – RBC Capital Markets Operator Good morning, ladies and gentlemen, and we ...

OFG Bancorp (NYSE:OFG) Q1 2025 Earnings Conference Call April 23, 2025 10:00 AM ET Company Participants Jose Rafael Fernandez - Chairman & Chief Executive Officer Maritza Arizmendi - Chief Financial Officer Cesar Ortiz - Chief Risk Officer Conference Call Participants Frank Schiraldi - Piper Sandler Timur Braziler - Wells Fargo Brett Rabatin - Hovde Group Kelly Motta - KBW Operator Good morning. Thank you for joining OFG Bancorp's Conference Call. My name is Madison, I will be your operator today. Our speak ...

Boston Scientific Corporation (NYSE:BSX) Q1 2025 Results Conference Call April 23, 2025 8:00 AM ET Company Participants Jon Monson - Senior Vice President, Investor Relations Mike Mahoney - Chairman and Chief Executive Officer Dan Brennan - Executive Vice President and Chief Financial Officer Ken Stein - Chief Medical Officer Conference Call Participants Robbie Marcus - JPMorgan Larry Biegelsen - Wells Fargo Joanne Wuensch - Citi Rick Wise - Stifel David Roman - Goldman Sachs Travis Steed - Bank of America ...

Chubb Limited (NYSE:CB) Q1 2025 Earnings Conference Call April 23, 2025 8:30 AM ET Company Participants Karen Beyer - Senior Vice President, Investor Relations Evan Greenberg - Chairman and Chief Executive Officer Peter Enns - Executive Vice President and Chief Financial Officer Conference Call Participants Gregory Peters - Raymond James Michael Zaremski - BMO Capital Markets Brian Meredith - UBS David Motemaden - Evercore ISI Meyer Shields - KBW Alex Scott - Barclays Robert Cox - Goldman Sachs Operator Tha ...

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) Q1 2025 Earnings Conference Call April 23, 2025 8:30 AM ET Company Participants Kyra Yates - VP, IR Rafael Santana - President & CEO John Olin - CFO Conference Call Participants Rob Wertheimer - Melius Research Adam Roszkowski - Bank of America Jerry Revich - Goldman Sachs Daniel Imbro - Stephens Angel Castillo - Morgan Stanley Saree Boroditsky - Jefferies Bascome Majors - Susquehanna Steve Barger - KeyBanc Oliver Holmes - Redburn Atlantic Ivan Yi - ...

Financial Data and Key Metrics Changes - In Q1 2025, the company's top line decreased by 6%, with a 3% decrease when excluding the divestiture of Kichler and unfavorable currency impacts [20][30] - Gross margins increased by 20 basis points to 35.9%, while operating profit was $288 million, resulting in an operating profit margin of 16% [20][32] - Earnings per share for the quarter was $0.87 [20][32] Business Line Data and Key Metrics Changes - Plumbing sales increased by 1% in local currency, with North American plumbing sales also up by 1%, driven by higher volumes in the spa and sauna business [21][33] - Decorative Architectural segment sales decreased by 16%, or 8% excluding the Kichler divestiture, with overall paint sales down high single digits [22][36] - Operating profit for the plumbing segment was $219 million, with an operating margin of 18.5%, while the Decorative Architectural segment had an operating profit of $96 million and an operating margin of 15.6% [22][23] Market Data and Key Metrics Changes - International plumbing sales were flat in local currency, with growth in Europe offset by softness in other markets, particularly China [21][34] - The company noted ongoing demand pressure in the DIY paint market due to a dampened macroeconomic environment, while pro paint sales were up mid-single digits [24][56] Company Strategy and Development Direction - The company is focused on mitigating tariff impacts through pricing actions, cost savings initiatives, and changes to its sourcing footprint [11][42] - The management emphasized the importance of maintaining core strengths, including market-leading brands and innovative product portfolios, amidst geopolitical and macroeconomic changes [15][26] - The company plans to invest approximately $175 million in capital expenditures and return $196 million to shareholders through dividends and share repurchases [39] Management's Comments on Operating Environment and Future Outlook - Management expressed uncertainty regarding the impact of tariffs on demand trends and decided not to provide full-year financial guidance for 2025 [12][25] - The company anticipates a potential softening of demand in the near term but remains confident in its ability to navigate challenges due to its experienced teams and strategic initiatives [15][26] - Management highlighted the resilience of the repair and remodel industry and the strength of its product portfolio [26][41] Other Important Information - The company is undergoing a leadership transition, with Keith Allman retiring and John Nooty appointed as the new President and CEO [8][10] - The company has successfully reduced its tariff import exposure to China by approximately 45% since 2018 [110] Q&A Session Summary Question: Top-line trends and April performance - Management noted strong performance in e-commerce and international plumbing, with some softening in the retail channel and DIY paint market [52][54] Question: Mitigation efforts on tariffs - Management confirmed that pricing and cost reduction are the primary mitigation actions, with ongoing efforts to adjust sourcing [61][62] Question: DIY paint market performance - Management indicated that the DIY paint market is experiencing softness due to consumer price sensitivity and a demographic shift towards professional painting services [75][76] Question: New build channel strategy - Management clarified that the focus remains on repair and remodel, with selective engagement in new builds based on value and innovation [96] Question: Brand performance across different segments - Management reported strong performance in e-commerce and international plumbing, with some pressure in retail and DIY paint areas [101][102] Question: Sourcing strategy and tariff impacts - Management discussed ongoing efforts to diversify sourcing and reduce exposure to China, while monitoring market conditions closely [110][114]

AT&T Inc. (NYSE:T) Q1 2025 Earnings Conference Call April 23, 2025 8:30 AM ET Company Participants Brett Feldman - SVP, Finance and IR John Stankey - Chairman and CEO Pascal Desroches - CFO Conference Call Participants Peter Supino - Wolfe Research Benjamin Swinburne - Morgan Stanley John Hodulik - UBS Michael Rollins - Citi Bryan Kraft - Deutsche Bank Sebastiano Petti - JPMorgan Jim Schneider - Goldman Sachs Kannan Venkateshwar - Barclays Brett Feldman Welcome to AT&T Inc.'s First Quarter 2025 Earnings Cal ...

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $10.36 billion, with adjusted operating income of $2.27 billion and an adjusted operating margin of 21.9% [10][11] - Adjusted EPS grew by 1% to $5.15 per share, while GAAP EPS increased by 15% to $3.98 [36] - Organic revenue growth was approximately $100 million or 1% ahead of expectations, with reported revenue flat year over year [35][37] Performance by Business Lines - Life Science Solutions reported a 2% increase in revenue, driven by bioproduction, but adjusted operating income decreased by 1% [43][44] - Analytical Instruments saw a 2% revenue growth, led by electron microscopy, with adjusted operating income flat year over year [45][46] - Specialty Diagnostics grew by 3% in revenue, with adjusted operating income increasing by 3% [46][47] - Laboratory Products and Biopharma Services experienced a 1% decrease in both reported and organic revenue, primarily due to the runoff of pandemic-related revenue [48] Market Data and Key Metrics Changes - North America revenue was flat year over year, while Europe and Asia Pacific grew low single digits, with China declining mid-single digits [38] - Academic and government revenue declined low single digits due to macro conditions in the U.S. and China [12][13] Company Strategy and Development Direction - The company’s growth strategy focuses on high-impact innovation, trusted partner status with customers, and a strong commercial engine [14][18] - Recent product launches include the Thermo Scientific Vulcan automated lab and the next-generation Thermo Scientific Transcend platform, enhancing market leadership [15][17] - The company is actively managing its supply chain to mitigate tariff impacts and is investing $2 billion in U.S. manufacturing and R&D [31][41] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a more uncertain macro environment but emphasized strong execution and customer success [8][9] - Updated guidance for 2025 includes revenue expectations of $43.3 billion to $44.2 billion and adjusted EPS in the range of $21.76 to $22.84 [26][61] - Management remains optimistic about long-term growth despite current challenges, citing strong demand for healthcare and scientific breakthroughs [87][89] Other Important Information - The company repurchased $1 billion of shares and increased its dividend by 10% during the quarter [24] - The acquisition of SOVENTUM's purification and filtration business for $4.1 billion is expected to close by the end of 2025 [22][23] Q&A Session Summary Question: Guidance methodology in light of market uncertainty - Management acknowledged the dynamic nature of the macro environment and emphasized their agility in navigating risks and capitalizing on opportunities [72][76] Question: Long-term growth outlook for the tools market - Management expressed optimism about long-term growth driven by healthcare demand and scientific advancements, despite potential short-term challenges [84][87] Question: Changes in order behavior due to tariffs - Management noted that there has not been a significant pull forward in orders due to the short notice of tariff announcements [93][94] Question: Flexibility in manufacturing - Management highlighted the company's robust manufacturing capabilities and flexibility across different product types, which positions them well to adapt to changes [96][101] Question: Impact of pharmacy tariffs - Management indicated ongoing discussions with pharmaceutical customers regarding tariffs and emphasized the importance of U.S. manufacturing capabilities [105][106] Question: Breakdown of policy-related guidance reduction - Management clarified that $200 million of the guidance reduction was due to canceled vaccine-related studies, with the remainder reflecting softer academic and government spending [114][115] Question: Pricing assumptions in light of tariffs - Management stated that they are implementing appropriate pricing actions to mitigate tariff impacts, expecting a slight increase in pricing across the portfolio [120][121]

GE Vernova Inc. (NYSE:GEV) Q1 2025 Results Conference Call April 23, 2025 7:30 AM ET Company Participants Michael Lapides - Vice President of Investor Relations Scott Strazik - Chief Executive Officer Ken Parks - Chief Financial Officer Conference Call Participants Nicole DeBlase - Deutsche Bank Mark Strouse - JPMorgan Joe Ritchie - Goldman Sachs Chris Dendrinos - RBC Capital Markets Andrew Percoco - Morgan Stanley Nigel Coe - Wolfe Research Julian Mitchell - Barclays Julien Dumoulin-Smith - Jefferies Andre ...

Virtu Financial, Inc. (NASDAQ:VIRT) Q1 2025 Earnings Conference Call April 23, 2025 8:00 AM ET Company Participants Andrew Smith - Head, Investor Relations Douglas Cifu - Chief Executive Officer Joseph Molluso - Co-President and Co-Chief Operating Officer Cindy Lee - Chief Financial Officer Conference Call Participants Chris Allen - Citi Dan Fannon - Jefferies Ken Worthington - J.P. Morgan Eli Abboud - Bank of America Operator Ladies and gentlemen, thank you for standing by, and welcome to Virtu Financial, ...