Minerals Technologies (NYSE:MTX) Q3 2025 Earnings Call October 24, 2025 11:00 AM ET Company ParticipantsLydia Kopylova - Head of Investor RelationsDouglas Dietrich - CEO and ChairmanErik Aldag - CFOD.J. Monagle - Group President, Consumer and SpecialtiesDaniel Moore - Director of ResearchConference Call ParticipantsMike Harrison - Managing Director and Senior Chemicals AnalystPete Osterlund - Senior AnalystOperatorGood morning and welcome to the Minerals Technologies Third Quarter 2025 Earnings Conference C ...

Financial Data and Key Metrics Changes - For Q3 2025, the company reported net income of $8.9 million or $0.45 per diluted share, an increase from $6.9 million or $0.35 per share in Q3 2024, representing a 29% year-over-year growth [2][8] - Return on average assets increased to 1.27% from 1.11% a year ago, while return on average equity improved to 15.74% from 13.38% [3][8] - The efficiency ratio strengthened to 52.28%, reflecting disciplined expense management [3][21] - Net interest margin expanded to 3.14% compared to 3.03% in the same quarter last year [3][10] Business Line Data and Key Metrics Changes - Net interest income before provision for credit losses was $21.3 million, up $3.2 million or 17.5% from the prior year [3][13] - Loans held for investment grew to $2.1 billion, an increase of more than $199 million or 10.3% from $1.9 billion on September 30, 2024 [4][19] - Non-performing loans declined to 0.06% of total loans, down from 0.14% last year, indicating strong credit quality [4][18] Market Data and Key Metrics Changes - Total assets reached $2.8 billion as of September 30, 2025, representing a 10.5% year-over-year growth [3] - Total deposits ended the quarter at $2.5 billion, marking a robust 15.5% year-over-year increase [3][4] - Average deposits increased to $166 million or nearly 29% compared to the prior quarter and are up $380 million or 18% year over year [10] Company Strategy and Development Direction - The company focuses on relationship-based growth and has diversified its deposit-focused business verticals, which now account for 27% of total deposits [4][6] - The management emphasized the importance of Florida's strong economy as a key driver of success, with real GDP growth tracking around 2.4% in 2025 [23][24] - The company is optimistic about growth in the association banking vertical, with plans to potentially double the book of business in the next 18 months [38][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining momentum into 2026, citing solid fundamentals and a vibrant market [57] - The company anticipates improvements in net interest margin as excess cash is put to work in loan volume and securities portfolio [14][47] - Management noted that the current economic environment aligns well with the company's strategy, particularly in serving middle-market businesses and real estate development [24] Other Important Information - The company completed a $40 million subordinated debt issuance, with most proceeds used to repurchase approximately 2 million shares at a weighted average price of $17.19 per share [5][22] - The allowance for credit losses totaled $25 million at year-end, representing 1.17% of total loans, indicating a strong credit position [18] Q&A Session Summary Question: Can you quantify the yacht payoffs in the quarter? - The yacht payoffs were a little over $10 million and occurred in August, impacting loan yields and margin [28] Question: Is the loan production in September a sign of sustained momentum? - Management believes it is a sign of sustained momentum, with a strong pipeline for Q4 [29] Question: How is competition impacting loan pricing? - The market is very competitive, and pricing is based on relationships rather than transactions [30] Question: What is the outlook for the margin in Q4? - A margin of 3.27% is expected for Q4, with potential for further expansion [36] Question: What are the expectations for non-interest income? - Non-interest income is expected to remain stable, with activity in wire fees and swap fees anticipated to continue [37] Question: What growth opportunities exist in the association banking business? - There is significant potential for growth in the association banking vertical, with plans to scale operations [38][39]

Grupo Televisa (NYSE:TV) Q3 2025 Earnings Call October 24, 2025 11:00 AM ET Company ParticipantsErnesto González - Equity ResearchAlfonso de Angoitia Noriega - Co-CEOFrancisco Valim - CEOConference Call ParticipantsMatthew Harrigan - Equity Research AnalystAlex Azar - AnalystMarcelo Santos - Senior Sell-side Equity AnalystOperatorGood morning, everyone, and welcome to Grupo Televisa's third quarter 2025 conference call. Before we begin, I would like to draw your attention to the press release, which explain ...

Corporación Inmobiliaria Vesta (NYSE:VTMX) Q3 2025 Earnings Call October 24, 2025 11:00 AM ET Company ParticipantsMaria Fernanda Bettinger Davo - IR OfficerJuan Achutegui - CFOLorenzo Dominique Berho - CEOConference Call ParticipantsAnton Mortenkota - AnalystFrancisco Suarez - AnalystHelena Ruiz - AnalystAdrian Huerta - AnalystFrancisco Suarez - AnalystJuan Achutegui - AnalystJorel Guilloty - Senior AnalystAlan Macias - Equity Research AnalystAlejandra Obregon - Equity Research AnalystPablo Ricalde - Analys ...

EastGroup Properties (NYSE:EGP) Q3 2025 Earnings Call October 24, 2025 11:00 AM ET Company ParticipantsMichael Griffin - Director of REIT Equity Research TeamRich Anderson - Managing DirectorMarshall Loeb - CEOBrent Wood - CFOMichael Carroll - Managing DirectorOmotayo Okusanya - Managing Director and Head of U.S. REIT ResearchSamir Khanal - Director of U.S. REITsMike Miller - VP of Strategy and Service TransformationJon Petersen - Managing Director and Head of U.S. REIT TeamJohn Kim - Managing Director of U ...

Financial Data and Key Metrics Changes - Community Health Systems reported a 6% year-over-year increase in net revenue for Q3 2025, driven by improvements in payer mix and state-directed payments from New Mexico and Tennessee [7][12] - Adjusted EBITDA for Q3 2025 was $376 million, up from $347 million in the prior year, with a margin of 12.2%, reflecting a 100 basis point increase year-over-year [11][12] - The company reduced its leverage to 6.7 times, down from 7.4 times at year-end 2024, following the refinancing of $1.74 billion of senior secured notes [9][16] Business Line Data and Key Metrics Changes - Same-store net revenue increased by 6.0% year-over-year, with net revenue per adjusted admission rising by 5.6% [12][63] - Same-store inpatient admissions grew by 1.3% year-over-year, while same-store surgeries declined by 2.2% [12] - The company successfully recruited approximately 160 more employed physicians and advanced practice providers compared to the previous year [9] Market Data and Key Metrics Changes - The company experienced a divergence in inpatient and outpatient surgeries, with outpatient surgeries down due to economic headwinds affecting consumer demand [12][20] - Improvement in payer mix was noted, particularly in commercially insured business, contributing to the overall positive trends in Q3 [21][47] Company Strategy and Development Direction - The company is focused on investments in quality care, improving physician and patient experiences, and achieving sustainable positive free cash flow [6][7] - Plans for 2026 include continued growth investments and potential divestitures, with a focus on expanding access points such as ambulatory surgery centers and freestanding emergency departments [59][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing improvements in consumer confidence and payer mix as positive indicators for recovery in outpatient volumes [20][21] - The company anticipates a strong Medicare rate increase for 2026, which could positively impact financial performance [30] Other Important Information - The company expects to close the divestiture of its outreach lab assets later this quarter, with proceeds of approximately $195 million [17] - Cash flows from operations for Q3 were reported at $70 million, with adjusted cash flows from operations for the year to date at $403 million [15][16] Q&A Session Summary Question: Thoughts on outpatient volume recovery - Management noted that economic headwinds and consumer confidence have impacted outpatient surgeries, but improvements in payer mix provide some optimism for recovery [20][21] Question: Divestiture plans for 2026 - Management confirmed ongoing discussions for potential divestitures, with some advanced discussions expected to yield announcements later this year [24] Question: Free cash flow outlook for 2025 - Management indicated confidence in achieving positive free cash flow for the full year 2025, which would allow for strategic capital deployment [27][28] Question: Trends in payer denials and underpayments - Management reported stabilization in denials since a spike in the previous year, with ongoing investments in revenue cycle management to mitigate pressures [68] Question: Impact of flu season on guidance - Management acknowledged that flu season has started slowly, but this has been factored into their guidance [71]

Grupo Televisa (NYSE:TV) Q3 2025 Earnings Call October 24, 2025 11:00 AM ET Company ParticipantsErnesto González - Equity ResearchAlfonso de Angoitia Noriega - Co-CEOFrancisco Valim - CEOConference Call ParticipantsMatthew Harrigan - Equity Research AnalystAlex Azar - AnalystMarcelo Santos - Senior Sell-side Equity AnalystOperatorGood morning, everyone, and welcome to Grupo Televisa's third quarter 2025 conference call. Before we begin, I would like to draw your attention to the press release, which explain ...

Financial Data and Key Metrics Changes - Community Health Systems reported a 6% year-over-year increase in net revenue for Q3 2025, driven by improvements in payer mix and state-directed payments from New Mexico and Tennessee [7][12] - Adjusted EBITDA for Q3 2025 was $376 million, up from $347 million in the prior year, with a margin of 12.2%, reflecting a 100 basis point increase year-over-year [11][12] - The company reduced its leverage to 6.7 times, down from 7.4 times at year-end 2024, following the refinancing of $1.74 billion of senior secured notes [9][16] Business Line Data and Key Metrics Changes - Same-store net revenue per adjusted admission increased by 5.6% year-over-year, primarily due to state-directed payment programs and improved payer mix [12][63] - Same-store inpatient admissions rose by 1.3% year-over-year, while same-store surgeries declined by 2.2% [12] - The company successfully recruited approximately 160 more employed physicians and advanced practice providers compared to the previous year [9] Market Data and Key Metrics Changes - The company experienced a divergence in inpatient and outpatient surgeries, with outpatient elective surgeries showing continued pressure on consumer demand [12][20] - Economic headwinds and consumer confidence issues were noted as significant factors affecting outpatient volume recovery [20][21] Company Strategy and Development Direction - Community Health Systems is focused on investments in quality care, improving physician and patient experiences, and achieving sustainable positive free cash flow [6][7] - The company plans to continue expanding access points, including ambulatory surgery centers and freestanding emergency departments, to enhance market share [58][59] - Strategic capital deployment options include further deleveraging or investing in tuck-in deals to generate additional EBITDA [28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing improvements in consumer confidence and payer mix as potential drivers for volume recovery [21][22] - The company anticipates a strong Medicare rate increase for 2026 and is exploring additional state-directed payment programs [30][31] - Management acknowledged ongoing inflationary pressures but remains confident in the ability to manage costs effectively [14] Other Important Information - The company expects to close the divestiture of its outreach lab assets later this quarter, which will provide approximately $195 million in proceeds [17] - Cash flows from operations for Q3 were reported at $70 million, with adjusted cash flows from operations year-to-date at $403 million [15][16] Q&A Session Summary Question: Thoughts on outpatient volume recovery - Management noted that economic headwinds and consumer confidence have impacted outpatient surgeries, but there are signs of improvement as consumer confidence stabilizes [20][21] Question: Divestiture plans for 2026 - The company is pursuing divestitures and is in advanced discussions on several deals, with potential announcements later this year [24] Question: Free cash flow outlook for 2025 - Management indicated confidence in achieving positive free cash flow for the full year 2025, which will allow for strategic capital deployment [27][28] Question: Trends in payer denials and underpayments - Management reported stabilization in denials since last year, with ongoing investments in revenue cycle management to improve efficiency [68][69] Question: Impact of flu season on guidance - Management confirmed that the slow start to flu season has been considered in their guidance, with no significant uptick observed yet [71]

EastGroup Properties (NYSE:EGP) Q3 2025 Earnings Call October 24, 2025 11:00 AM ET Company ParticipantsMichael Griffin - Director of REIT Equity Research TeamRich Anderson - Managing DirectorMarshall Loeb - CEOBrent Wood - CFOMichael Carroll - Managing DirectorOmotayo Okusanya - Managing Director and Head of U.S. REIT ResearchSamir Khanal - Director of U.S. REITsMike Miller - VP of Strategy and Service TransformationJon Petersen - Managing Director and Head of U.S. REIT TeamJohn Kim - Managing Director of U ...

Financial Data and Key Metrics Changes - The company reported earnings of $8.25 per share for Q3 2025, doubling the earnings from the same quarter last year [4] - Revenue for Q3 2025 was $2.5 billion, an increase of $639 million or 35% compared to the previous year [6] - EBITDA for Q3 2025 reached $414 million, a 74% increase from $238 million in Q3 2024 [9] - Free cash flow for Q3 2025 was $519 million, with year-to-date free cash flow at $632 million [9] - The company increased its quarterly dividend by 20% to $0.60 per share [6] Business Line Data and Key Metrics Changes - The electrical segment revenue grew by 71%, while mechanical revenue increased by 26% [6] - Gross profit for Q3 2025 was $608 million, up $226 million from the previous year, with a gross profit percentage of 24.8% [7] - Service revenue increased by 11%, now accounting for 14% of total revenue [14] Market Data and Key Metrics Changes - Industrial customers represented 65% of total revenue in the first nine months of 2025, with technology accounting for 42% of revenue, up from 32% the previous year [12][13] - The backlog at the end of Q3 2025 was a record $9.4 billion, a 65% increase year-over-year [11] Company Strategy and Development Direction - The company announced the acquisition of two contractors, FZ Electrical and Meisner Electric, expected to provide over $200 million in incremental annual revenue [10] - The company plans to continue investing in its modular business, aiming for 3 million square feet of space by early 2026 [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continuing growth and strong results in 2025 and 2026, driven by solid bookings and high demand [6] - The company noted that the construction sector is driving most of its results, with service revenue also growing significantly [4] Other Important Information - The company has a net cash position of $725 million as of the end of September [10] - The effective tax rate for the year is expected to be around 23% [9] Q&A Session Summary Question: On technology side, does bidding activity match bookings and revenue growth in Q3? - Management confirmed that the pipeline remains robust with more opportunities than can be handled [18] Question: Thoughts on capital allocation and accumulating cash? - Management indicated a preference for deploying cash into acquisitions and share buybacks, while also considering shareholder rewards if cash accumulation becomes excessive [20][23] Question: Any material advance payments included in Q3 cash flow? - Management clarified that there were no extraordinary events affecting cash flow, and it is expected to align closely with net income [28] Question: Backlog growth and its relation to modular vs traditional construction? - Management stated that while modular bookings may push out further, most new bookings are slated to start within the next year [30] Question: How critical have internal recruiting efforts been to support growth? - Management emphasized the importance of a good work environment and ongoing recruitment efforts to sustain growth [46] Question: Update on automation investments in modular? - Management highlighted ongoing investments in automation and technology, which are expected to enhance productivity [76][80] Question: Insights on pharma project pipeline and onshoring opportunities? - Management noted strong planning and potential projects in the pharma sector, particularly in the Mid-Atlantic region [82] Question: Changes in electrical or mechanical scope with large data centers? - Management indicated that the shift to DC power does not materially impact their operations, as the need for skilled electricians remains constant [87]