Financial Data and Key Metrics Changes - The company achieved RevPAR growth of 1.6% in Q1 2025, driven by a 2.1% increase in ADR, slightly offset by a 0.5% decline in occupancy [5][17] - First quarter occupancy was 69.1%, average daily rate was $204.31, and RevPAR was $141.23 [17] - Total revenue growth was 1.2%, benefiting from a 3.8% increase in out-of-room spend [18][20] - Adjusted EBITDA for Q1 was $77.6 million, and adjusted FFO per diluted share was $0.31 [20][22] Business Line Data and Key Metrics Changes - Group segment was the best performing, with revenue growth of 10% driven by strong citywide events [8][18] - Urban hotels achieved RevPAR growth of 3.6%, with weekday urban RevPAR growing by 4.9% [7][8] - The leisure segment saw a 2% increase in revenues, with urban leisure outperforming at 3% growth [9] Market Data and Key Metrics Changes - Strong RevPAR growth was noted in urban markets such as San Jose (14.1%), Houston CBD (9.9%), Philadelphia (26.4%), Pittsburgh (12.6%), and Louisville (10.3%) [18] - International demand remains soft, representing less than 3% of revenues, primarily in markets like New York and South Florida [13] Company Strategy and Development Direction - The company is focused on capital recycling and strengthening its balance sheet, including opportunistic asset sales and share repurchases [6][10] - The company is optimistic about the long-term outlook for lodging fundamentals, supported by consumer preferences for experiences and a favorable operating environment for urban markets [14][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that fundamentals have moderated and uncertainty persists due to macroeconomic risks, leading to an adjustment in full-year guidance [11][12] - The company expects RevPAR growth for 2025 to range between negative 1% and positive 1% [25] - The booking window has shortened, with a noted increase in cancellations primarily in the government segment [47][48] Other Important Information - The company ended Q1 with over $800 million in liquidity and $2.2 billion in debt, maintaining a strong balance sheet [22] - The company has a new $250 million share repurchase program approved by the Board [22] Q&A Session Summary Question: Can you provide insights on April's performance and how it compared to expectations? - Management indicated that April was expected to be slightly positive but came in lower than anticipated due to elongated spring break and softening government demand [30][31] Question: What is the current state of the balance sheet and capital markets? - The bank group market remains strong, with capacity for top-quality sponsors, while high-yield issuance has seen some widening in spreads [34][35] Question: What are the trends in the group segment and future bookings? - The group segment is performing well, with a healthy booking pace for the year, although cancellations were noted primarily in the government sector [78] Question: How is the company addressing the uncertainty in the transaction market? - The company is taking an opportunistic approach to asset sales, with one additional asset currently under consideration [92]

Financial Data and Key Metrics Changes - JBT Morell's revenue exceeded guidance by $19 million, driven by better-than-expected equipment shipments and strong recurring revenue [17] - Adjusted EBITDA margin was 13.1%, outperforming guidance by 60 basis points, attributed to volume flow-through, favorable mix, and good expense control [17] - Free cash flow for the first quarter was $18 million, including approximately $42 million in one-time M&A related payments [19] Business Line Data and Key Metrics Changes - JBT segment revenue increased by 4% year over year, or 5.6% on a constant currency basis, with adjusted EBITDA of $61 million, up 6% [18] - MRL segment revenue was flat year over year but grew 2% on a constant currency basis, with adjusted EBITDA increasing by 19% to $51 million [19] Market Data and Key Metrics Changes - Demand from the poultry industry showed a 12% year-over-year increase, continuing a recovery trend [5] - The company experienced healthy orders across diversified end markets, including meat, beverage, pharma, and pet food [5] Company Strategy and Development Direction - The company is focused on integrating its two organizations to enhance customer service and product offerings [13] - JBT Morell aims to leverage its comprehensive portfolio of solutions to support customers across the entire production value chain [15] - The company has temporarily suspended full-year financial guidance due to macroeconomic uncertainties and tariff impacts [7][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage near-term impacts from tariffs and macroeconomic uncertainties [7] - There is less visibility for the second half of the year due to potential slower economic growth and higher prices affecting customer investment decisions [8] - Management noted that approximately half of the company's revenue comes from resilient recurring revenue, which is beneficial in uncertain times [11] Other Important Information - The estimated annualized cost impact from tariffs is approximately $50 million to $60 million, or $12 million to $15 million per quarter [10] - The company expects to achieve total in-year cost synergies of $35 million to $40 million in 2025, with annual run rate savings of $80 million to $90 million by the end of the year [20] Q&A Session Summary Question: Thoughts on guidance and customer behavior changes - Management indicated that the decision to pull full-year guidance was due to lack of clarity in the environment, not significant changes in customer behavior [26][28] Question: Recurring revenue impact from tariffs - Management believes that the recurring revenue component is less likely to be impacted by tariffs, as there was strong order strength in parts before tariff visibility [34] Question: Backlog and order delays - Management clarified that the backlog was affected by foreign exchange and adjustments during the integration process, with no significant cancellations reported [45] Question: Integration and demand impact - Management stated that cost synergies can continue regardless of demand changes, but material purchasing volume could be a risk in a lower demand environment [94]

Financial Data and Key Metrics Changes - For Q1 2025, the company reported net income of $2.6 million or $0.19 per diluted share on net sales of $55.5 million, with gross margins increasing to 26.7% from 25% in the prior year period, reflecting a 161 basis point improvement due to lower operational costs [17][18] - Selling, general and administrative expenses decreased by 1.2% or $100,000 to $10.6 million compared to the prior year [17] - Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by $500,000 to $4.9 million in Q1 2025 [17] Business Line Data and Key Metrics Changes - Net sales declined approximately 3% year over year, but gross margins expanded by more than 160 basis points, driven by lower manufacturing and logistics costs [5][17] - The company saw growth in key categories such as archery, safety, darting, and outdoor games, which outperformed the prior year period despite overall softness in discretionary spending [5] Market Data and Key Metrics Changes - Inventory levels rose modestly during the quarter as the company built inventory ahead of the spring selling season for archery, basketball, and playground categories [6] - The company maintained a strong focus on working capital efficiency, generating nearly $4 million in operating cash flow [6] Company Strategy and Development Direction - The company is focused on operational discipline, innovation, and customer centricity, with a strategy to strengthen direct-to-consumer and e-commerce presence [9][13] - Plans include expanding domestic manufacturing capacity and diversifying global sourcing to mitigate tariff impacts and enhance supply chain resilience [11][12][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing softness in consumer sentiment and discretionary spending but expressed confidence in the company's diversified portfolio and operational improvements [10][12] - The company is actively analyzing and planning for various sourcing scenarios in response to trade uncertainties, particularly regarding China [11][30] Other Important Information - The company reduced bank debt by $1.8 million and paid a quarterly dividend of $2.1 million during the quarter [7] - Total debt outstanding as of March 31, 2025, was $23.8 million, with a net leverage ratio of 0.8 times trailing twelve months EBITDA [18] Q&A Session Summary Question: Follow-up on proactive steps to address the tariff situation - Management highlighted the importance of a diversified category portfolio and agile supply position to navigate uncertainties, mentioning ongoing optimization of the supply chain and potential pricing actions [25][30] Question: Quantification of tariff impact in Q1 - Management indicated that there was a little over 100 basis points negative impact from tariffs in Q1, but still achieved a 161 basis point improvement in gross margins [32] Question: Inventory levels and their implications - Management explained that inventory levels were strategically reduced over the past few years, resulting in a more right-sized inventory that contributed to lower costs [33]

Financial Data and Key Metrics Changes - The company reported a quorum of 18,860,260 shares present, representing a significant level of shareholder engagement [7] - The election of directors received overwhelming support, with at least 99% of shares voting in favor of the motions [13][14] Business Line Data and Key Metrics Changes - The meeting included discussions on the approval of amendments to employee stock purchase and equity incentive plans, indicating ongoing adjustments to employee compensation structures [15][22] Market Data and Key Metrics Changes - No specific market data or key metrics were discussed during the meeting [0] Company Strategy and Development Direction and Industry Competition - The company is focused on maintaining strong governance through the election of directors and the approval of compensation plans, which reflects a commitment to aligning management interests with shareholder value [10][26] Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting [0] Other Important Information - The company ratified the selection of Ernst and Young Global as independent auditors for the fiscal year ending December 31, 2025, which is a standard practice to ensure financial oversight [30] Q&A Session Summary Question: Were there any discussions on the company's future strategies? - There were no specific discussions or questions regarding future strategies during the meeting [0] Question: What was the outcome of the director elections? - The elections resulted in all nominated directors being approved with significant majority votes, indicating strong shareholder support [13][14] Question: Were there any concerns raised by shareholders? - No concerns were raised during the meeting, and all motions passed with overwhelming support [0]

Cummins (CMI) Q1 2025 Earnings Call May 05, 2025 10:00 AM ET Company Participants Chris Clulow - Vice President-Investor RelationsJennifer Rumsey - President & Chief Executive OfficerMark Smith - CFO & VPJamie Cook - Managing Director - Equity ResearchAngel Castillo - Executive DirectorDavid Raso - Senior Managing Director & PartnerRob Wertheimer - Director of ResearchJeffrey Kauffman - Partner & Transportation and Logistics Equity Research Conference Call Participants Jerry Revich - AnalystTim Thein - Mana ...

Financial Data and Key Metrics Changes - The company reported Q1 RevPAR of $178, reflecting a modest 70 basis point decline year-over-year, primarily due to difficult comparisons following last year's nearly 8% growth [18] - Total hotel revenues for the quarter were $608 million, with hotel adjusted EBITDA at $151 million, resulting in a nearly 25% hotel adjusted EBITDA margin [18] - Adjusted EBITDA for the quarter was $144 million, and adjusted FFO per share was $0.46 [19] Business Line Data and Key Metrics Changes - The Bonnet Creek complex in Orlando saw a 32% RevPAR increase, driven by a surge in transient revenues of nearly 65% [10] - Casa Marina in Key West delivered a 12% RevPAR increase, with occupancy up 680 basis points [11] - RevPAR across the two Hawaii properties declined by 15%, with Hilton Hawaiian Village significantly impacted by a labor strike [12] Market Data and Key Metrics Changes - Miami, New Orleans, Puerto Rico, Washington DC, and San Francisco reported above industry average RevPAR gains [5] - Preliminary April results showed mixed performance, with RevPAR growth of 1.6%, driven by strong gains in New York, Orlando, and San Francisco [15] - International demand represents just 10% of total room nights, with government-related business accounting for only 3% [16] Company Strategy and Development Direction - The company plans to invest $310 million to $330 million in capital improvements in 2025, focusing on unlocking embedded value in its portfolio [8] - A transformative renovation of the Royal Palm South Beach, Miami, is set to begin soon, with expected returns exceeding 15% to 20% [6] - The company aims to sell $300 million to $400 million of non-core hotels this year, with several assets in various stages of marketing [9] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the ongoing geopolitical uncertainties and their impact on decision-making in the market [26] - The outlook for Hawaii remains favorable, supported by limited new supply expected through at least 2029 [14] - Despite macro uncertainties, the company remains focused on factors within its control and is working closely with operators to manage operating expenses [16] Other Important Information - The company repurchased approximately 3.5 million shares for a total of $45 million during the quarter [9] - A $70 million impairment was recognized in the quarter, related to an asset whose true value was reassessed [75] Q&A Session Summary Question: Comments on planned asset sales and current market environment - Management acknowledged tremendous uncertainty in the market due to geopolitical issues and trade wars, but expressed confidence in their ability to transact even under challenging conditions [26][27] Question: Update on Hawaii's performance and ramp-up post-strike - Management noted that the ramp-up is taking longer than expected, with sequential improvement anticipated, and expressed confidence in Hawaii's long-term growth potential [30][31] Question: Changes in core hotels and capital allocation - The company has focused on trimming its portfolio to core assets that account for 85-90% of its value, with plans to recycle capital from non-core asset sales [35][36] Question: Group pace and market performance expectations - Management indicated that group pace is slightly down for Q2 and Q3 but remains strong for Q4, with confidence in the overall bookings for the year [60][61] Question: Performance of Hilton Hawaiian Village and EBITDA expectations - Management stated that while it is challenging to predict if EBITDA will exceed last year's performance, they remain bullish on Hawaii's long-term outlook [73][74]

Financial Data and Key Metrics Changes - Revenues for Q1 2025 were $8.2 billion, a decrease of 3% compared to Q1 2024 [11] - EBITDA was $1.5 billion, or 17.9% of sales, compared to $2.6 billion, or 30.6% of sales a year ago [21] - Gross margin improved to $2.2 billion, or 26.4% of sales, up from $2.1 billion, or 24.5% last year [22] - Net earnings for the quarter were $824 million, or $5.96 per diluted share, compared to $2 billion, or $14.3 per diluted share a year ago [24] Business Line Data and Key Metrics Changes - Engine segment revenues decreased by 5% to $2.8 billion, but EBITDA increased to 16.5% from 14.1% [25] - Components segment revenue decreased by 20%, with EBITDA excluding costs related to the separation of Atmos decreasing to 14.3% from 14.8% [26] - Distribution segment revenues increased by 15% to $2.9 billion, with EBITDA also increasing to 12.9% of sales [26] - Power Systems segment revenues increased by 19% to $1.6 billion, with EBITDA rising from 17.1% to 23.6% of sales [26] - Accelera revenues increased by 11% to $103 million, with an EBITDA loss of $86 million compared to a loss of $101 million a year ago [26] Market Data and Key Metrics Changes - North America revenues decreased by 1% compared to 2024, with heavy-duty truck industry production down 18% [12] - International revenues decreased by 5%, with revenues in China increasing by 9% to $1.8 billion [13] - Industry demand for medium and heavy-duty trucks in China decreased by 4%, while excavator demand increased by 23% [14] Company Strategy and Development Direction - The company is focused on executing its Destination Zero strategy and has introduced new engine platforms to enhance performance and efficiency [7][9] - The acquisition of First Mode aims to advance decarbonization solutions in mining and rail operations [10] - The company is investing over $1 billion in U.S. manufacturing operations to strengthen its position amid tariff uncertainties [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed heightened uncertainty regarding the global economy due to trade tariffs, impacting demand for capital goods [15] - The company is well-positioned to navigate through uncertainty, with a strong financial position and experienced leadership [19] - Future guidance will be reinstated when there is more clarity regarding economic conditions and tariff impacts [28] Other Important Information - The company is actively working on mitigating tariff impacts through inventory strategies and dual sourcing [91] - There is ongoing uncertainty regarding North America emissions regulations for 2027, which could affect product launches and customer contracts [18][46] Q&A Session Summary Question: Can you quantify the gross or net tariff cost impacting your business? - Management stated that it is uncertain to quantify the tariff costs at this time due to the evolving nature of tariffs [35] Question: Which businesses have the most visibility regarding backlog? - Management indicated that the power generation business has a multi-year order board, allowing for reallocation of orders if needed [37] Question: What are the expectations for margins in the Power Systems business moving forward? - Management noted that the strong performance in Q1 was driven by high aftermarket sales, and margins are expected to remain strong if demand trends continue [44] Question: What is the impact of tariffs on financial results in Q1? - Management reported that the impact of tariffs in Q1 was immaterial, but they expect changes in the second half of the year [52] Question: What tariff mitigation actions have been taken? - Management mentioned inventory strategies and dual sourcing as part of their mitigation efforts [91]

TG Therapeutics (TGTX) Q1 2025 Earnings Call May 05, 2025 08:30 AM ET Company Participants Jenna Bosco - Chief Communication OfficerMichael Weiss - Chairman, CEO & PresidentAdam Waldman - Chief Commercialization OfficerSean Power - CFO, Corporate Secretary & TreasurerMichael Difiore - Managing DirectorMayank Mamtani - Senior Managing DirectorPrakhar Agrawal - Managing Director Conference Call Participants Tara Bancroft - Director, Senior Analyst, Biotech Equity ResearchRoger Song - Senior Equity Research An ...

Freshpet (FRPT) Q1 2025 Earnings Call May 05, 2025 08:00 AM ET Company Participants Rachel Ulsh - VP - IR & Corporate CommunicationsBilly Cyr - CEO & Board of DirectorTodd Cunfer - Chief Financial OfficerKen Goldman - Managing DirectorScott Morris - Co-Founder & PresidentBill Chappell - Managing DirectorRobert Moskow - Managing Director Jon Andersen - Partner - Equity ResearchKaumil Gajrawala - Managing Director Conference Call Participants Peter Benedict - Senior Research AnalystBrian Holland - MD - Resear ...

Henry Schein (HSIC) Q1 2025 Earnings Call May 05, 2025 08:00 AM ET Company Participants Graham Stanley - VP of Investor Relations & Strategic Finance Project OfficerStanley Bergman - Chairman and CEORonald South - Senior VP & CFOJonathan Block - Managing DirectorMichael Petusky - Managing DirectorJohn Stansel - VP - Equity Research Conference Call Participants Jason Bednar - Senior Research AnalystJeffrey Johnson - Senior Research AnalystElizabeth Anderson - Senior Managing Director & Research AnalystAllen ...