The Boston Beer Company (NYSE:SAM) Q3 2025 Earnings Call October 23, 2025 05:00 PM ET Company ParticipantsNik Modi - Managing DirectorBill Kirk - Managing DirectorJim Koch - Founder, CEO, and ChairmanEric Serotta - Executive DirectorMike Andrews - Associate General Counsel and Corporate SecretaryFilippo Falorni - Director of Equity ResearchDiego Reynoso - CFOConference Call ParticipantsPeter Grom - Equity Research AnalystNone - AnalystOperatorGreetings, and welcome to The Boston Beer Company third quarter 2 ...

Boyd Gaming (NYSE:BYD) Q3 2025 Earnings Call October 23, 2025 05:00 PM ET Company ParticipantsStephen Grambling - Managing DirectorBarry Jonas - Managing DirectorDavid Katz - Managing DirectorJosh Hirsberg - CFOSteven Wieczynski - Managing DirectorDavid Hargreaves - Managing DirectorBrandt Montour - Director of Equity ResearchJohn DeCree - Director of Equity ResearchDaniel Politzer - Executive Director of Equity ResearchDavid Strow - VP of Corporate CommunicationsKeith Smith - President and CEOConference Ca ...

Boyd Gaming (NYSE:BYD) Q3 2025 Earnings Call October 23, 2025 05:00 PM ET Speaker0Good afternoon, and welcome to the Boyd Gaming Third Quarter twenty twenty five Earnings Conference Call. My name is David Straub, Vice President of Corporate Communications for Boyd Gaming. I will be the moderator for today's call, which we are hosting on Thursday, 10/23/2025. At this time, all lines are in listen only mode. Following our remarks, we will conduct a question and answer session.Our speakers for today's call are ...

Business First Bancshares (NasdaqGS:BFST) Q3 2025 Earnings Call October 23, 2025 05:00 PM ET Speaker0Hello and thank you for standing by. My name is Mark, and I will be your conference operator today. At this time, I would like to welcome everyone to Business First Bancshares Q3 twenty twenty five Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session.I would now like to turn the call over to Matt Silley. Yo ...

Coursera (NYSE:COUR) Q3 2025 Earnings Call October 23, 2025 05:00 PM ET Speaker6Ladies and gentlemen, thank you for standing by and welcome to Coursera's third quarter 2025 earnings call. All participants are in a listen-only mode, and this call is being recorded. Following the prepared remarks, we'll hold a question and answer session. To ask a question, please click the raise hand button and be prepared to unmute your line when prompted. I would now like to turn the call over to Cam Carey, Vice President ...

Financial Data and Key Metrics Changes - The company reported record adjusted revenue of $1,569 million, a 7% increase year-over-year, and adjusted diluted earnings per share of $1.57, reflecting a 17.2% increase [5][14] - Adjusted consolidated EBITDA reached $619 million, up 9.3%, with a quarterly adjusted consolidated EBITDA margin of 39.5% [5][14] - Cash from operating activities for the nine months ended September 30, 2025, was $1,101 million, a 22% increase over the prior year [6][16] Business Line Data and Key Metrics Changes - The Global Investor and Distribution Services (GIDS) business experienced a 9% revenue growth, while GlobeOp reported a 9.6% revenue growth [5][14] - Financial services recurring revenue growth was 6.7% in Q3 [6] Market Data and Key Metrics Changes - The company noted strength across all alternative markets and capitalized on international opportunities, particularly in Australia and the U.S. [5][6] Company Strategy and Development Direction - The company is focused on intelligent automation and AI as both a revenue opportunity and a means to enhance operational efficiency [11] - Recent acquisitions, including Kural Fund Services and Callistone, are aimed at expanding the company's market presence and capabilities, particularly in the African market and digital assets [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the fourth quarter, expecting continued growth and improved margins, while also acknowledging the competitive landscape [17][19] - The company anticipates revenue for 2025 to be in the range of $6,210 million to $6,250 million, with an organic revenue growth of 4.6% at the midpoint [17][18] Other Important Information - The company returned $305 million to shareholders in Q3, including share repurchases and dividends, and raised its common stock dividend by 8% to $1.8 [7][14] - The company ended Q3 with $388 million in cash and cash equivalents and $6.6 billion in gross debt, resulting in a net leverage ratio of 2.59 times [16] Q&A Session Summary Question: Contribution of Batea to Q4 organic growth - Management expects Batea to contribute approximately $25 million in Q4, up from $16 million in the previous year [22][23] Question: Mechanics behind GIDS organic growth - The organic growth was significantly driven by a large lift out completed in Sydney, Australia, and other successful lift outs [25][27] Question: Attractiveness of CuraFund services deal - The African market is still developing in fund administration, and the acquisition is expected to enhance relationships with large insurers [30][32] Question: Impact of lost business from State Street - Management indicated a small impact on revenue but emphasized that the WIP business will continue to grow [37] Question: Margin outlook with GIDS and GlobeOp growth - The strength of GlobeOp's margins contributed positively, and overall margin improvement is expected to continue [38] Question: Seasonality of Callistone's revenue - Management stated that there is no significant seasonality in Callistone's revenue that would impact growth rates [46] Question: Pipeline for Intralinks and competitive landscape - Early indicators of pipeline improvement were noted, although growth has not yet translated into improved results [48] Question: Confidence in healthcare business growth - Management expressed confidence in the healthcare business, citing strong client relationships and ongoing development efforts [50]

Associated Banc-Corp (NYSE:ASB) Q3 2025 Earnings Call October 23, 2025 05:00 PM ET Speaker0Good afternoon, everyone, and welcome to Associated Banc-Corp's third quarter 2025 earnings conference call. My name is Diego, and I will be your operator today. At this time, all participants are in a listen-only mode. We will be conducting a question-and-answer session at the end of this conference. Copies of the slides that will be referenced during today's call are available on the company's website at investor.as ...

Financial Data and Key Metrics Changes - The company reported a core FFO per share of $1.89, a quarterly record and 13% higher than the same quarter last year [3][10] - Constant currency core FFO per share was $1.85, reflecting an 11% year-over-year increase [3] - AFFO per share and adjusted EBITDA increased by 16% and 14% year-over-year, respectively [3] - Operating revenue grew by 10%, contributing to strong earnings results [10][23] - Same capital cash NOI growth was 8% year-over-year, driven by a 7.8% increase in data center revenue [24] Business Line Data and Key Metrics Changes - Bookings in Q3 were $201 million at 100% share, with $162 million at Digital Realty's share [11][19] - The 0 to 1 megawatt plus interconnection category contributed $85 million in new leases, while greater than a megawatt leasing accounted for $76 million [11][21] - Interconnection leasing reached $20 million, marking a record quarter and a 13% increase from the previous record [11][21] Market Data and Key Metrics Changes - Leasing activity was globally diversified, with notable strength in the Americas, EMEA, and APAC [11] - The backlog at Digital Realty's share increased to $852 million, with $137 million of commencements offset by new bookings [21] - The company signed $192 million of renewal leases at an 8% blended increase on a cash basis [22] Company Strategy and Development Direction - The company aims to support the growing demand for scalable, connected infrastructure driven by digital transformation, cloud, and AI [5][6] - Digital Realty's established presence in key metros and relationships with utilities provide a competitive advantage in navigating infrastructure challenges [6][9] - The company is focused on delivering capacity that meets customer requirements while maintaining financial discipline to drive long-term value [28][47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth due to a robust backlog and strong operational execution [3][10] - The anticipated demand for AI-oriented deployments is expected to remain strong, with over 50% of quarterly bookings related to AI use cases [9][10] - The company is increasing its core FFO guidance range for the full year 2025, reflecting better-than-expected operating performance [26][27] Other Important Information - Digital Realty received the EcoVadis Gold rating for business sustainability, placing it in the 97th percentile of assessed companies [16] - The company signed long-term renewable energy agreements to procure 500 gigawatt hours of clean baseload hydropower [16] Q&A Session Summary Question: Guidance for 2026 and growth levels - Management indicated a target of 10% top-line growth supported by a healthy backlog of over $550 million, despite some headwinds from maturing debt and lower interest income [32][33] Question: Demand from hyperscalers in major metro markets - Management noted robust dialogue with hyperscalers, leading to the largest pipeline on record, with significant interest in capacity blocks coming online in 2026 and 2027 [34][37] Question: Capacity to increase releasing spreads - Management highlighted strong pricing power in the less than a megawatt category, with expectations for continued healthy market rates [38] Question: Diversity of hyperscalers being engaged - Management confirmed ongoing discussions with a diverse array of hyperscalers, focusing on larger capacity blocks with established businesses [41][43] Question: M&A opportunities in the current landscape - Management stated that the strategy remains consistent, focusing on land acquisition, building purchases, and strategic company acquisitions [56] Question: Timeline for future developer capacity - Management indicated that significant capacity blocks are being prioritized for leasing, with ongoing customer interest in 2026 and 2027 deliveries [57][59]

McGrath RentCorp (NasdaqGS:MGRC) Q3 2025 Earnings Call October 23, 2025 05:00 PM ET Speaker0Ladies and gentlemen, thank you for standing by. Welcome to the McGrath RentCorp Third Quarter twenty twenty five Earnings Call. At this time, all conference participants are in a listen only mode. Later, we will conduct a question and answer session. This conference call is being recorded today, Thursday, 10/23/2025.Before we begin, note that the matters of the company management we'll be discussing today that are n ...

Financial Data and Key Metrics Changes - In Q3, the company reported revenue of $13.7 billion, exceeding guidance and up 6% sequentially [22][23] - Non-GAAP gross margin was 40%, four percentage points better than guidance, driven by higher revenue and a favorable mix [23] - Earnings per share for Q3 were $0.23, compared to guidance of breakeven EPS, attributed to stronger gross margin and cost discipline [23] - Operating cash flow was $2.5 billion, with gross CapEx of $3 billion and positive adjusted free cash flow of $900 million [23] Business Line Data and Key Metrics Changes - Intel products revenue was $12.7 billion, up 7% sequentially, supported by strong demand in both client and server segments [25] - Client Computing Group (CCG) revenue was $8.5 billion, up 8% quarter over quarter, driven by a stronger TAM and Windows 11 refresh [25][26] - Data Center and AI (DCAI) revenue was $4.1 billion, up 5% sequentially, driven by improved product mix and higher enterprise demand [26][27] - Intel Foundry revenue was $4.2 billion, down 4% sequentially, but operating loss improved by $847 million due to favorable comparisons [29][30] Market Data and Key Metrics Changes - The company noted healthy customer purchasing behavior and inventory levels, with industry supply tightening materially [21] - The demand for server CPUs is expected to grow due to the accelerating build-out of AI infrastructure [21][27] - The client consumption total addressable market (TAM) is projected to approach 290 million units in 2025, marking two consecutive years of growth [26] Company Strategy and Development Direction - The company is focused on rebuilding its market position through AI and enhancing its x86 architecture to support hybrid compute environments [10][19] - Strategic partnerships, particularly with NVIDIA, are aimed at creating new classes of products that accelerate AI adoption [10][11] - The company is committed to improving its engineering and design execution, including the establishment of a central engineering group to unify functions [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding macroeconomic volatility but noted strong demand driven by AI and traditional compute [21] - The company is focused on shoring up its balance sheet and has secured approximately $20 billion in cash through strategic partnerships [23][24] - Management emphasized the importance of building long-term trust with customers in the foundry business and the need for improved yield and reliability [48][50] Other Important Information - The company is on track to launch its first Pentelic SKU by year-end, with additional SKUs expected in the first half of next year [12] - The company is prioritizing wafer capacity for server shipments over entry-level client parts due to tight supply conditions [33] - The company plans to maintain disciplined capital expenditures while being flexible to respond to demand [62] Q&A Session Summary Question: Foundry collaborations and increased confidence - Management indicated that collaborations, particularly with SoftBank, are enhancing confidence in the foundry business due to increased demand for AI infrastructure [38] Question: Gross margin outlook for 2026 - Management noted that while Altera's absence will be a headwind, they expect improvements in foundry gross margins driven by scale and leading-edge mix [42][44] Question: Customer commitments for foundry investments - Management emphasized the importance of building trust with customers and demonstrating yield improvements to secure commitments for foundry investments [48][50] Question: Supply constraints in server CPUs - Management acknowledged that shortages are widespread, particularly in Intel 10 and 7, and are working to manage demand and inventory [54][55] Question: Demand outlook for 2026 - Management indicated that demand is expected to outpace supply in both server and client markets, with potential improvements anticipated later in the year [60] Question: Investments in CapEx and product businesses - Management stated that the focus remains on deleveraging, but they are open to increasing CapEx if customer demand justifies it [62] Question: Update on NVIDIA relationship - Management highlighted the importance of the collaboration with NVIDIA, which is expected to create new product opportunities in the AI space [91][94]