Cleveland-Cliffs Inc. (NYSE:CLF) Q3 2024 Earnings Conference Call November 4, 2024 8:30 AM ET Company Participants Lourenco Goncalves - Chairman, President & CEO Celso Goncalves - EVP & CFO Conference Call Participants Lucas Pipes - B. Riley Securities Lawson Winder - Bank of America Carlos De Alba - Morgan Stanley William Peterson - JPMorgan Alexander Hacking - Citigroup Chris LaFemina - Jefferies Philip Gibbs - KeyBanc Capital Markets Operator Good morning, ladies and gentlemen. My name is Darryl, and I’m ...

Financial Data and Key Metrics - Recurring revenue grew 4% in constant currency, driven by governance and capital markets franchises [8] - Adjusted EPS was $1, impacted by the E-Trade deconversion and lower event-driven revenues [9] - The company raised its fiscal 2025 recurring revenue guidance to 6%-8%, reflecting the acquisition of SIS and strong organic growth [11] - Adjusted operating income decreased 7%, with AOI margins at 13% [38] - Closed sales reached a record $57 million, up 21% from the previous year [27][38] Business Line Performance - **Governance Business**: ICS recurring revenues rose 5%, driven by strong sales and investor participation growth [12] - Equity record growth for companies processed during the quarter was 3% [13] - Fund and ETF position growth was 6%, with strong growth in passive and money market funds [15] - **Capital Markets**: Recurring revenues grew 5%, driven by new sales and higher trading volumes, particularly in fixed income [20] - **Wealth and Investment Management**: Recurring revenue declined 4% due to the E-Trade deconversion, but underlying growth was 6% [23] Market Performance - Equity position growth was 3%, impacted by the mix of companies hosting annual meetings [13][46] - Mutual fund and ETF position growth was 6%, with mid-single-digit growth expected to continue [47] - Trade volumes rose 10%, led by double-digit growth in fixed income [48] Strategy and Industry Competition - The company is focused on democratizing and digitizing investing, simplifying trading, and modernizing wealth management [9] - The acquisition of SIS strengthens the Canadian wealth business and accelerates innovation in that market [10][24] - Broadridge is leveraging AI and data management investments to drive innovation across its platforms [6][21] Management Commentary on Operating Environment and Outlook - Global financial markets remain robust, with healthy demand driven by long-term trends like digitization and regulatory changes [6] - The company is on track to deliver strong full-year results, with recurring revenue growth of 6%-8% and adjusted EPS growth of 8%-12% [11][32] - Management highlighted the resilience of the business model amid geopolitical uncertainty and market volatility [6][7] Other Important Information - The company completed the acquisition of SIS for approximately $185 million, expected to contribute 1 point to recurring revenue growth [36][96] - Broadridge is investing in digital transformation, with open rates for digital communications 20% higher and click-through rates 5x higher than standard communications [19] - The company expects free cash flow conversion of 95%-105% for fiscal 2025 [56] Q&A Session Summary Question: Why was the EPS guidance not raised despite the recurring revenue increase? - The SIS acquisition is expected to be neutral to EPS in the first year, and the company is reinvesting in growth opportunities [64][66] Question: What is the outlook for digital revenue growth? - Digital revenue is expected to accelerate to mid-to-high single-digit growth for the full year, driven by new sales and onboarding of recent wins [73][75] Question: How is Broadridge addressing T+1 challenges in Europe? - The company is leveraging its managed services and technology to help clients navigate the transition to T+1 in Europe [77][79] Question: What is the revenue contribution expected from SIS? - SIS is expected to contribute approximately $60 million in revenue for the full year, adding over 1 percentage point to Broadridge's growth [92][96] Question: Was there any unusual pull-forward in sales this quarter? - The strong sales performance in Q1 is not considered a pull-forward but reflects a good start to the year, with the full-year sales outlook remaining unchanged [98]

Thomson Reuters Corporation (NYSE:TRI) Q3 2024 Earnings Conference Call November 5, 2024 8:30 AM ET Company Participants Gary Bisbee - Head of Investor Relations Steve Hasker - Chief Executive Officer Mike Eastwood - Chief Financial Officer Conference Call Participants Scott Fletcher - CIBC Manav Patnik - Barclays Vince Valentini - TD Cowen Kevin McVeigh - UBS Aravinda Galappatthige - Canaccord Genuity Andrew Steinerman - JPMorgan Maher Yaghi - Scotiabank Toni Kaplan - Morgan Stanley Drew McReynolds - RBC G ...

Navios Maritime Partners L.P. Common Units (NYSE:NMM) Q3 2024 Earnings Conference Call November 5, 2024 8:30 PM ET Company Participants Angeliki Frangou - Chairwoman and CEO Stratos Desypris - COO Eri Tsironi - CFO Ted Petrone - Vice Chairman Conference Call Participants Omar Nokta - Jefferies Operator Thank you for joining us for Navios Maritime Partners Third Quarter 2024 Earnings Conference Call. With us today from the company are Chairwoman and CEO, Ms. Angeliki Frangou; Chief Operating Officer, Mr. Str ...

Sequans Communications S.A. (NYSE:SQNS) Q3 2024 Results Conference Call November 5, 2024 8:00 AM ET Company Participants Kim Rogers - Hayden, Investor Relations Georges Karam - Chairman and Chief Executive Officer Deborah Choate - Chief Financial Officer Conference Call Participants Scott Searle - ROTH Capital Partners Operator Good morning, ladies and gentlemen, and welcome to the Sequans Communications Third Quarter 2024 Financial Results Conference Call. At this time, all lines are in listen-only mode. F ...

Gladstone Commercial Corporation (NASDAQ:GOOD) Q3 2024 Earnings Conference Call November 5, 2024 8:30 AM ET Company Participants David Gladstone - Chairman and Chief Executive Officer Michael LiCalsi - General Counsel and Secretary Buzz Cooper - President Gary Gerson - Chief Financial Officer and Assistant Treasurer Conference Call Participants Gaurav Mehta - Alliance Global Partners Dave Storms - Stonegate Barry Oxford - Colliers Securities John Massocca - B. Riley Securities Operator Greetings and welcome ...

Financial Data and Key Metrics - Total revenue for Q3 2024 was RMB26.95 million, with an operating profit of RMB35.24 million and a net profit of RMB67.88 million [4] - Total outstanding loan balance as of September 30 was approximately RMB4.8 billion, with M1+ at 3.17% and M3+ at 1.76% [5] - The company's total cash, cash equivalents, and short-term investments amounted to approximately RMB3.8 billion, an increase of RMB89.27 million compared to the previous quarter [5] - Non-GAAP adjusted net income for Q3 2024 was RMB71.3 million, with basic and diluted net income per ADS at 0.66% and 0.60%, respectively [22] Business Line Data and Key Metrics - The Cango U-Car app accumulated 280,000 page views by the end of Q3, a 21% increase from the previous quarter [7] - AutoCango.com, the international used car platform, had over 370,000 page views and nearly 60,000 registered users, offering more than 100,000 used car SKUs covering over 65,000 models [10] - AutoCango.com's visibility in search engine results pages (SERP) exceeded 2.41 million impressions, with expectations to surpass 4 million by the end of the year [12] Market Data and Key Metrics - The company has received inquiries from over 130 countries and regions regarding vehicle purchases, indicating strong international interest [12] - The company plans to expand AutoCango.com's multilingual support to 15 languages by early 2025 to enhance user experience and market reach [34] Company Strategy and Industry Competition - The company is focusing on enhancing AutoCango.com's quality and functionality to meet diverse user needs in different regions [13] - Strategic partnerships with used car marketplaces have been established to ensure a diverse and abundant supply of vehicles for the Cango U-Car app [7] - The company is actively pursuing forward-looking strategic investment opportunities globally, focusing on high-quality projects that complement its core competencies [15] Management Commentary on Operating Environment and Future Outlook - Management believes that China's moderate economic recovery will positively impact the business by boosting consumer confidence and purchasing power, particularly in the used car market [26] - The company is monitoring macroeconomic indicators and market dynamics to respond quickly to potential economic changes [28] - Management is optimistic about future growth, driven by operational efficiency improvements, customer experience enhancements, and digital capabilities [28] Other Important Information - The company has introduced a rapid vehicle inspection and listing service in collaboration with third-party inspection teams to enhance transaction transparency [8] - A dedicated team has been established to handle customer feedback and improve service quality [30] - The company is streamlining business processes, automating workflows, and leveraging cloud computing to reduce costs and improve efficiency [37] Q&A Session Summary Question: Impact of China's economic recovery on the business - Management believes the economic recovery will boost consumer confidence and purchasing power, driving demand in the used car market [26][28] Question: Vehicle quality assurance measures - The company collaborates with reputable dealers and conducts over 100 professional technical inspections for each vehicle before listing [29][30] Question: Integration with overseas markets and feature optimization - The company is conducting comprehensive research on overseas markets and plans to offer multilingual support on AutoCango.com by early 2025 [33][34] - A direct sourcing feature for the Chinese used car market is being introduced to enhance user experience [35] Question: Cost control and risk management strategies - The company has streamlined business processes, automated workflows, and leveraged cloud computing to reduce costs [37] - A robust internal control system has been established to manage risks and ensure compliance with laws and regulations [39]

Federal Agricultural Mortgage Corporation (NYSE:AGM) Q3 2024 Earnings Conference Call November 4, 2024 4:30 PM ET Company Participants Jalpa Nazareth - Senior Director, IR & Finance Strategy Bradford Nordholm - President & CEO Aparna Ramesh - EVP, CFO & Treasurer Zachary Carpenter - EVP, Chief Business Officer Conference Call Participants Bose George - KBW William Ryan - Seaport Research Partners Brendan McCarthy - Sidoti Operator Good afternoon, ladies and gentlemen, and welcome to the Farmer Mac’s Third Q ...

8x8, Inc. (NASDAQ:EGHT) Q2 2025 Earnings Call November 4, 2024 5:00 PM ET Company Participants Kate Patterson - Investor Relations Samuel Wilson - Chief Executive Officer Kevin Kraus - Chief Financial Officer Conference Call Participants Eamon Coughlin - Barclays Michael Turrin - Wells Fargo Securities Siti Panigrahi - Mizuho Meta Marshall - Morgan Stanley William Power - Baird Michael Funk - Bank of America Peter Levine - Evercore Ryan Koontz - Needham & Co Operator Good day and thank you for standing by. ...

Aspen Technology, Inc. (NASDAQ:AZPN) Q1 2025 Earnings Conference Call November 4, 2024 4:30 PM ET Company Participants Brian Denyeau - IR Antonio Pietri - President and CEO Dave Baker - CFO Conference Call Participants Dylan Becker - William Blair Jason Celino - KeyBanc Capital Markets Mark Schappel - Loop Capital Markets Rob Oliver - Baird Clarke Jeffries - Piper Sandler Arsenije Matovic - Wolfe Research Operator Good day and thank you for standing by. Welcome to the Q1 2025 Aspen Technology Earnings Confe ...