RPM International (RPM) Q4 2025 Earnings Call July 24, 2025 10:00 AM ET Company ParticipantsMatthew Schlarb - VP - IR & SustainabilityFrank Sullivan - Chairman & CEOMichael Laroche - VP, Controller & Chief Accounting OfficerRussell Gordon - VP & CFOMichael Sison - Managing DirectorKevin McCarthy - PartnerJosh Spector - Executive Director - Chemicals Equity ResearchDavid Begleiter - Managing DirectorJohn Roberts - Managing DirectorFrank Mitsch - PresidentVincent Andrews - Managing DirectorConference Call Par ...

AllianceBernstein (AB) Q2 2025 Earnings Call July 24, 2025 10:00 AM ET Company ParticipantsIoanis Jorgali - VP - IRSeth Bernstein - CEO, President & DirectorTom Simeone - CFOOnur Erzan - Head of Global Client Group & Head of Bernstein Private WealthBen Budish - DirectorConference Call ParticipantsNone - AnalystWilliam Katz - Senior Equity AnalystJohn Dunn - AnalystDan Fannon - MD - Research AnalystOperatorThank you for standing by, and welcome to the AllianceBernstein Second Quarter twenty twenty five Earni ...

Financial Data and Key Metrics Changes - Ameriprise reported adjusted operating EPS increased by 7% to $9.11, with a strong margin of 27% [22] - Adjusted operating net revenues increased by 4% to $4.3 billion, driven by asset growth and strong transactional activity [22][24] - Return on equity remains high at 52%, among the best in the industry [7][20] Business Line Data and Key Metrics Changes - Wealth Management adjusted operating net revenues increased by 6% to $2.8 billion, benefiting from strong net inflows and market appreciation [28] - Client assets grew to a record $1.1 trillion, up 11%, with total WRAP assets increasing by 15% [9][26] - Asset Management total assets under management and administration increased to $690 billion, up 2% year-over-year and 5% sequentially [15][31] Market Data and Key Metrics Changes - Assets under management, administration, and advisement reached a new high of $1.6 trillion, reflecting strong client flows and equity market appreciation [7][24] - The bank's total assets increased by 6%, with good loan growth driven by new product launches [12] Company Strategy and Development Direction - The company is focused on significant investments in client experience, technology, digital capabilities, and AI to enhance productivity and client engagement [8][10] - Ameriprise aims to maintain a strong balance sheet while returning capital to shareholders, targeting an 85% payout ratio for the second half of the year [20][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic direction and competitive strengths of the business despite market volatility and economic uncertainties [6][21] - The company anticipates continued growth opportunities from cash holdings on the sidelines and strong client engagement [9][10] Other Important Information - Ameriprise was recognized for outstanding overall satisfaction and quality of advice, receiving accolades from Kiplinger's and Fortune [21] - The company maintains a strong excess capital position of $2.3 billion above regulatory requirements [34] Q&A Session Summary Question: Drivers of software flows in 2Q and indications of NNA reaccelerating - Management noted that flows were impacted by tax payments and market conditions but started to recover later in the quarter [37][38] Question: Year-on-year trajectory for AWM distribution expense - Management indicated that distribution expenses are influenced by advisor productivity and compensation structures, with some rational behavior observed in the market [39][41] Question: Recruiting strategy and market outlook - Management highlighted a focus on selling the total value proposition to advisors, emphasizing productivity and support rather than just competitive packages [46][48] Question: Update on annuities and their positioning - Management confirmed continued interest in structured annuities and those without living benefits, aligning with clients' retirement needs [50][51] Question: Share buybacks and payout ratio expectations - Management stated that the target payout ratio is 85%, with the potential for adjustments based on shareholder interests [56] Question: Competitive environment and advisor growth expectations - Management confirmed that advisor numbers are growing, with a focus on maintaining productivity and quality rather than just increasing headcount [60][62] Question: Risk transfer updates and investment income - Management noted improvements in life claims contributing to profitability, with no current strategic risk transfer opportunities identified [64][66] Question: Bank and credit union pipeline updates - Management expressed confidence in the bank's pipeline and ongoing efforts to secure deals [81][82] Question: Asset management flow performance and outlook - Management acknowledged higher redemptions but noted good underlying sales and product development initiatives [88][90] Question: Balancing human capital addition versus automation - Management emphasized ongoing investments in technology and AI to enhance advisor capabilities while managing expenses [91][93] Question: Pipeline opportunities across affiliation channels - Management confirmed a broad recruitment strategy focusing on appropriate advisors and a strong pipeline for the upcoming quarter [99][100]

Financial Data and Key Metrics Changes - For Q2 2025, net income attributable to Valero stockholders was $714 million or $2.28 per share, down from $880 million or $2.71 per share in Q2 2024 [10] - Refining segment reported operating income of $1.3 billion for Q2 2025, compared to $1.2 billion in Q2 2024 [10] - Refining throughput volumes averaged 2.9 million barrels per day with a 92% capacity utilization rate [10] - Cash operating expenses for refining were $4.91 per barrel in Q2 2025 [10] Business Line Data and Key Metrics Changes - Renewable diesel segment reported an operating loss of $79 million in Q2 2025, down from operating income of $112 million in Q2 2024, with sales volumes averaging 2.7 million gallons per day [11] - Ethanol segment reported operating income of $54 million in Q2 2025, down from $105 million in Q2 2024, with production volumes averaging 4.6 million gallons per day [11] Market Data and Key Metrics Changes - Diesel sales volumes increased approximately 10% year-over-year, while gasoline sales remained flat compared to the previous year [7] - U.S. diesel inventories were at their lowest level for July in almost 30 years, indicating strong demand [7] Company Strategy and Development Direction - The company is progressing with FCC unit optimization projects at St. Charles, expected to cost $230 million and start up in 2026, aimed at increasing the yield of high-value products [8] - The company remains optimistic about refining fundamentals due to planned refinery closures and limited capacity additions beyond 2025 [8] Management's Comments on Operating Environment and Future Outlook - Management noted strong operational and commercial execution, setting a record for refining throughput in the U.S. Gulf Coast region [6] - The outlook for refining margins is positive due to strong product demand and low inventories globally [7] - Management expects sour crude oil differentials to widen as OPEC plus and Canada increase production in the latter half of the year [9] Other Important Information - The company returned $695 million to stockholders in Q2 2025, with a payout ratio of 52% [13] - Total debt at the end of Q2 2025 was $8.4 billion, with $4.5 billion in cash and cash equivalents [13] Q&A Session Summary Question: How is refined product demand trending across your footprint? - Management indicated that refining fundamentals remain supportive, with gasoline demand relatively flat and diesel demand trending above last year's levels [20][21] Question: What is your outlook for light-heavy differentials? - Management expects improvements in differentials as Canadian production recovers and OPEC unwinds cuts, but uncertainties remain regarding Russian sanctions [28][30] Question: What's your outlook for net capacity additions for the remaining part of this year and for 2026? - Management noted limited new capacity coming online, primarily geared towards petrochemical production rather than transportation fuels [35][36] Question: Can you explain the strong capture rates in the Gulf Coast? - Strong operating performance and commercial success in the Gulf Coast region contributed to high capture rates, despite heavy-light differentials [37][39] Question: What is the sustainability of capital returns and buybacks? - The company maintains a commitment to return 40%-50% of adjusted cash flow to shareholders and plans to use excess free cash flow for share buybacks [42][44] Question: Can you discuss the renewable diesel segment's performance? - The segment improved quarter-over-quarter due to better volume and full PTC capture on eligible feedstocks, despite ongoing challenges [105][108]

WEX (WEX) Q2 2025 Earnings Call July 24, 2025 10:00 AM ET Company ParticipantsSteve Elder - SVP - Global IRMelissa Smith - Chair, CEO & PresidentJagtar Narula - CFOShray Gurtata - Assistant Vice PresidentNate Svensson - VP - Equity Research - Payments, Processors & IT ServicesSanjay Sakhrani - Managing DirectorRayna Kumar - MD - Fintech Equity ResearchTrevor Williams - Managing DirectorConference Call ParticipantsNik Cremo - Executive Director & Lead Equity Research Analyst - Payments & FinTechDavid Koning ...

RenaissanceRe (RNR) Q2 2025 Earnings Call July 24, 2025 10:00 AM ET Company ParticipantsKeith McCue - SVP - Finance & IRKevin O’Donnell - President & CEORobert Qutub - EVP & CFODavid Marra - EVP & Group Chief Underwriting OfficerElyse Greenspan - Managing DirectorJosh Shanker - Managing DirectorMeyer Shields - Managing DirectorBrian Meredith - Managing DirectorAndrew Andersen - VP - Equity ResearchConference Call ParticipantsJimmy Bhullar - Equity Research AnalystAlex Scott - Equity Research AnalystWes Carm ...

Tractor Supply Co (TSCO) Q2 2025 Earnings Call July 24, 2025 10:00 AM ET Company ParticipantsMary Winn Pilkington - Senior Vice President of Investor & Public RelationsHal Lawton - President & CEOKurt Barton - Executive VP, CFO & TreasurerColin Yankee - EVP & Chief Supply Chain OfficerSteven Zaccone - Director, Equity Research, Hardlines RetailSeth Estep - Executive VP & Chief Merchandising OfficerChuck Grom - Managing DirectorRobert Mills - EVP and Chief Technology, Digital & Corporate Strategy OfficerStev ...

Patterson-UTI Energy (PTEN) Q2 2025 Earnings Call July 24, 2025 10:00 AM ET Company ParticipantsMichael Sabella - VP - Investor RelationsWilliam Hendricks - President & CEOAndrew Smith - EVP & CFOScott Gruber - Director - Oilfield Services & Equipment ResearchAtidrip Modak - Vice President - Energy Services & E&PsStephen Gengaro - Managing DirectorGrant Hynes - Equity Research AssociateEddie Kim - Vice President - Equity ResearchConnor Jensen - Senior Equity Research AssociateJeff LeBlanc - Director - Equit ...

Group 1 Automotive (GPI) Q2 2025 Earnings Call July 24, 2025 10:00 AM ET Company ParticipantsPete DeLongchamps - Senior Vice President-Manufacturer Relations, Financial Services and Public AffairsDaryl Kenningham - CEO, President & DirectorDaniel McHenry - SVP & CFORajat Gupta - ED - AutosDaniela Haigian - VP & Equity ResearchFederico Merendi - Equity Research AssociateJeff Lick - Managing DirectorBret Jordan - Managing DirectorConference Call ParticipantsMichael Ward - AnalystDavid Whiston - Senior Analyst ...

CEMEX (CX) Q2 2025 Earnings Call July 24, 2025 10:00 AM ET Company ParticipantsLouisa Rodriguez - Executive VP of Investor Relations & Public Affairs and Chief Communications OfficerJaime Muguiro - CEOMaher Al-Haffar - CFO and Executive Vice President of Finance & AdministrationBenjamin Theurer - Managing DirectorGordon Lee - Head of ResearchAlejandra Obregón Martínez - VP - Equity ResearchYassine Touahri - Founding PartnerAdrian Huerta - Executive DirectorFrancisco Suarez - Director - Global Research - Lat ...