Lockheed Martin Corporation (NYSE:LMT) J.P. Morgan 2024 Industrials Conference Call March 13, 2024 10:15 AM ET Company Participants Jay Malave - Chief Financial Officer Conference Call Participants Seth Seifman - J.P. Morgan Seth Seifman Good morning, everyone. Welcome back to the aerospace defense track at the 2024 JPMorgan Industrials Conference. I'm Seth Seifman, the U.S. Aerospace Defense equity analyst. We are very grateful now and been very happy to have Lockheed Martin with us now. We have Jay Malave ...

Gilead Sciences, Inc. (NASDAQ:GILD) Barclays 26th Annual Global Healthcare Conference March 13, 2024 11:15 AM ET Company Participants Andy Dickinson - CFO Conference Call Participants Carter Gould - Barclays Carter Gould Good afternoon. Welcome to Day 2 of the Barclays Global Healthcare Conference. My name is Carter Gould, covering U.S. biopharma. I am pleased to welcome Gilead Sciences to the stage. Joining us from the company, Andy Dickinson, CFO. Andy, you’re going to make some opening comments, and the ...

Colgate-Palmolive Company (NYSE:CL) UBS Global Consumer and Retail Conference March 13, 2024 12:00 PM ET Company Participants John Hazlin - President, Hill’s Pet Nutrition Stan Sutula - Chief Financial Officer Conference Call Participants Peter Grom - UBS Peter Grom Hi, everyone. Good afternoon. Welcome to the UBS Global Consumer Retail Conference here in New York City. My name is Peter Grom, I'm the U.S. Beverages and Household Products analyst here at UBS. And we are very excited to have joining us today ...

Union Pacific Corporation (NYSE:UNP) J.P. Morgan 2024 Industrials Conference Call March 13, 2024 8:00 AM ET Company Participants Jim Vena - Chief Executive Officer Jennifer Hamann - Chief Financial Officer Conference Call Participants Brian Ossenbeck - JPMorgan Brian Ossenbeck Alright. Good morning. Thanks for coming back for the second day of the Industrials Conference. Kicking off the transportation track here with Union Pacific, I am Brian Ossenbeck, I cover the rails and logistics for JPMorgan. Very exc ...

Bristol-Myers Squibb Company (NYSE:BMY) Leerink Partners Global Biopharma Conference 2024 Conference Transcript March 13, 2024 10:00 AM ET Executives Samit Hirawat - Executive Vice President, Chief Medical Officer, Head, Development Tim Power - Investor Relations Janet Barth - Investor Relations Analysts Dave Risinger - Leerink Partners Dave Risinger Great. So, good morning, everyone. My name is Dave Risinger. I cover diversified biopharmaceuticals for Leerink Partners and it’s very much my pleasure to welc ...

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Leerink Partners Global Biopharma Conference March 13, 2024 10:40 AM ET Company Participants Ryan Crowe - Vice President, Investor Relations Christopher Fenimore - Chief Financial Officer Conference Call Participants David Risinger - Leerink Partners David Risinger Thanks very much for being with us here today. I thought we could just start with the EYLEA franchise. Okay. We'll just jump right into it. Ryan Crowe Actually, David, if I could just read a forward-l ...

Key Points Industry and Company * **Company**: Air Products and Chemicals, Inc. (NYSE:APD) * **Industry**: Chemicals, Industrial Gases, Hydrogen Production Core Views and Arguments * **Large Projects and Financial Demands**: Air Products is investing $5-5.5 billion annually in capital expenditures (CapEx) for two large projects, with cash flow of $4 billion and $1.5 billion in dividends. This results in a cash burn of $2.5-2.8 billion for at least the next two years, raising leverage from 1.5 to 2.5x [2][3]. * **Financial Capacity and Leverage**: Air Products has the financial capacity to absorb the cash burn and maintain its A rating. The company aims to keep leverage between 1.5-2.5x, balancing opportunity and risk [3][6]. * **Louisiana Project Expansion**: The Louisiana project's scope was expanded from 5-5.5 million tons of CO2 sequestration to 10 million tons due to increased incentives under the Inflation Reduction Act. This expansion leverages existing infrastructure and reduces future costs [7][9]. * **Blue Ammonia Demand**: Air Products expects strong demand for blue ammonia in Japan and Korea for use in furnaces and marine shipping. This demand is driven by environmental regulations and corporate sustainability goals [16][17][18]. * **Green Hydrogen Demand**: Air Products believes there is strong demand for green hydrogen in Europe, driven by environmental regulations and the need to reduce carbon emissions. Green hydrogen is priced based on the cost of capital and the absence of raw material price escalation [41][44]. * **NEOM Project**: The NEOM project is a green hydrogen production facility in Saudi Arabia, serving European markets. Air Products is the general contractor, managing engineering, construction, and project delivery [31][37]. * **2024 Earnings**: Air Products faced challenges in 2024, including incorrect estimates of the Chinese economy and helium prices. However, the company remains committed to meeting its earnings expectations through cost control and productivity improvements [48][50]. Other Important Content * **Tax Credits**: Air Products can manage tax credits associated with carbon capture projects, as they can be received as cash in the first five years and traded thereafter [13][15]. * **Permitting Process**: The federal government's decision to give Louisiana primacy over the permitting process for Class 6 wells is a positive development for the Louisiana project, reducing the time frame for permit approval [23][25]. * **Geopolitical Risks**: Air Products acknowledges the potential impact of geopolitical events on project timelines, but remains confident in its ability to deliver projects on schedule [40].

Johnson & Johnson (NYSE:JNJ) Barclays 26th Annual Global Healthcare Conference March 13, 2024 10:45 AM ET Company Participants Peter Menziuso - Company Group Chairman, Johnson & Johnson Vision Conference Call Participants Matt Miksic - Barclays Matt Miksic Good morning, everybody. Thanks so much for joining us. I'm so pleased to have today Peter Menziuso. I like with a name like Peter, -- You think I'd be better at pronouncing complicated names. But a Company Group Chairman, Johnson & Johnson Vision, apprec ...

PHX Minerals Inc. (NYSE:PHX) Full-Year 2023 Earnings Conference Call March 13, 2024 11:00 AM ET Company Participants Stephen Lee - FNK Investor Relations Chad Stephens - President & Chief Executive Officer Danielle Mezo - Vice President, Engineering Ralph D'Amico - Senior Vice President & Chief Financial Officer Conference Call Participants Nate Pendleton - Stifel Charles Meade - Johnson Rice Jeff Grampp - Alliance Global Partners Donovan Schafer - Northland Capital Markets Operator Good morning, and thank ...

Cardinal Health, Inc. (NYSE:CAH) Barclays 26th Annual Global Healthcare Conference March 13, 2024 8:30 AM ET Company Participants Matt Sims - Head, Investor Relations Aaron Alt - Chief Financial Officer Conference Call Participants Stephanie Davis - Barclays Capital Stephanie Davis All right. Good morning everyone. Thank you for going bright and early with us. I am delighted to have Cardinal here to kick off our day. We have the CFO, Aaron Alt and with Head of IR, Matt Sims who's also going to keep Aaron in ...