Granite Ridge Resources (GRNT) Q1 2025 Earnings Call May 09, 2025 11:00 AM ET Company Participants James Masters - PrincipalLuke Brandenberg - President & CEOTyler Farquharson - Chief Financial OfficerJohn Annis - Vice PresidentNoah Hungness - Equity Research AssociateMichael Scialla - Managing Director Conference Call Participants Phillips Johnston - Senior E&P Analyst Operator Good morning, and welcome to the Granite Ridge Resources First Quarter twenty twenty five Earnings Conference Call. Currently, all ...

TXNM Energy (TXNM) Q1 2025 Earnings Call May 09, 2025 11:00 AM ET Company Participants Lisa Goodman - Executive Director of Investor RelationsPatricia Collawn - Chairman & CEODon Tarry - President & COOLisa Eden - SVP & CFONicholas Campanella - DirectorMichael Lonegan - Director - Equity ResearchAnthony Crowdell - Managing Director Conference Call Participants Brian Russo - Analyst Operator Good day and welcome to the TXM Energy Q1 twenty twenty five Conference Call. All participants will be in listen only ...

EchoStar (SATS) Q1 2025 Earnings Call May 09, 2025 11:00 AM ET Company Participants Dean Manson - Chief Legal OfficerHamid Akhavan - President and CEOPaul Orban - Executive VP & CFO of DishJohn Swieringa - President of Technology & COOMarlane Pereiro - High Yield Credit ResearchWalter Piecyk - General Partner Conference Call Participants Sebastiano Petti - Senior Research AnalystBrent Penter - Associate Analyst - Equity ResearchBryan Kraft - AnalystAdam Rhodes - Senior Credit AnalystSam McHugh - AnalystJona ...

Logan Ridge Finance (LRFC) Q1 2025 Earnings Call May 09, 2025 11:00 AM ET Company Participants Ted Goldthorpe - CEO, President & DirectorPatrick Schafer - CIOBrandon Satoren - CFO, Chief Accounting Officer, Secretary & TreasurerChristopher Nolan - SVP - Equity ResearchSteven L. Martin - President Operator Good morning, and welcome to Logan Ridge Finance Corporation's First Quarter Ended 03/31/2025 Earnings Conference Call. An earnings press release was distributed yesterday, 05/08/2025, after the close of t ...

Opal Fuels (OPAL) Q1 2025 Earnings Call May 09, 2025 11:00 AM ET Company Participants Todd Firestone - Vice President of Investor Relations & Corporate DevelopmentAdam Comora - Co-Chief Executive OfficerJonathan Maurer - Co-Chief Executive OfficerKazi Hasan - CFODerrick Whitfield - Managing DirectorMatthew Blair - Managing DirectorMarty Malloy - Director of ResearchAdam Bubes - VP - Equity ResearchBetty Zhang - Associate Director - Equity ResearchCraig Shere - Director of Research Operator Good day and than ...

Nvni Group Limited (NVNI) Q4 2024 Earnings Call May 09, 2025 11:00 AM ET Company Participants Pierre Schurmann - CEO, Chairman & Founder Operator Good morning, ladies and gentlemen, and welcome to the NuVini Group Limited Investor Webinar. A slide presentation is accompanying today's webcast, and there will be an opportunity for you to ask questions at the end of today's presentation. Please note that today's webinar is being recorded. As a reminder, all participants will be in a listen only mode. I would n ...

Financial Data and Key Metrics Changes - The company reported a top line revenue increase of 14.4% for 2024, with EBITDA growth of 30% [21] - Net cash from operating activities reached 38.6 million reais, marking a substantial increase [21] - The company achieved its first operating profit since inception five years ago, indicating consistent historical growth in top line and improved margins [22] Business Line Data and Key Metrics Changes - The company has acquired seven companies across different segments, with a diversified client base of 22,000 clients, none representing more than 0.25% of total revenue [15][16] - The average revenue per user increased to 8,500.0 reais, and the lifetime value of clients grew by 50% [23][24] - The company has maintained a high recurring revenue rate of 90% and low churn rates across its platform [23][24] Market Data and Key Metrics Changes - The total IT spend in Brazil is approximately 9.2 billion dollars, driven by the digital transformation of small and medium businesses [13] - The SaaS market in Latin America is growing at twice the pace of the rest of the world, with Brazil representing 44% of the market [14][15] - The company plans to expand into other Latin American markets such as Mexico, Colombia, Chile, and Argentina over time [14] Company Strategy and Development Direction - The company focuses on acquiring multisector SaaS businesses that are growing or profitable, positioning itself as an M&A platform in the SaaS segment [8][9] - The management team emphasizes a clear investment thesis with a focus on cash flow generation and operational efficiency [12][25] - A partnership with Oracle is expected to enhance AI capabilities, driving efficiencies and margin expansion [23][48] Management's Comments on Operating Environment and Future Outlook - The management highlighted the current high interest rates in Brazil and the lack of IPOs as opportunities for acquisitions [11] - The company aims to utilize cash flow for further acquisitions while maintaining a focus on improving EBITDA margins [25][44] - Management expressed confidence in executing operational strategies to enhance market position and stock performance [43][44] Other Important Information - The company has a thorough due diligence process for acquisitions, focusing on predictable cash flow and revenue quality [27][41] - The management team has extensive experience in both operational and investment roles, contributing to the company's strategic direction [32][34] Q&A Session Summary Question: How should success be tracked? - The company emphasizes cash flow generation, EBITDA, and revenue diversification as primary KPIs [36] Question: What is the plan to stay compliant with Nasdaq? - The company is addressing notifications regarding market cap and stock price, with plans for operational execution to improve compliance [38][40] Question: Does the growing pipeline impact acquisition criteria? - The company prioritizes revenue predictability and quality in its acquisition criteria as the pipeline grows [41][42] Question: Management's view on current share price? - Management refrains from commenting on stock price, focusing instead on operational execution [43] Question: What are the capital allocation priorities? - The company allocates excess cash generated from profitable companies for acquisitions and related expenses [44] Question: Current capital needs outside of acquisition pipeline? - The company has minimal operational needs apart from M&A activities, with a debenture reduced from 12 million to about 4 million [45] Question: Role of AI in driving efficiencies? - The company is actively implementing AI solutions for various operational aspects and has plans for a major partnership with Oracle [48]

Financial Data and Key Metrics Changes - Consolidated sales for Q1 2025 were $456.5 million, down from $497.6 million in the prior year, representing an 8% decrease [7][14] - Adjusted EBITDA for Q1 was $55.5 million, compared to $51.5 million in the prior year, with an adjusted EBITDA margin of 12.2%, up from 10.3% [8][14] - First quarter diluted loss per share was $0.68, compared to diluted earnings per share of $0.59 in the prior year, primarily due to restructuring charges [8] - Adjusted earnings per share for the quarter were $0.71, up from $0.62 in the prior year [9] - Cash flow used in operations was $22.7 million, including a $14 million payment related to the termination of the U.S. pension plan [9] Business Line Data and Key Metrics Changes - The RUPS segment saw sales increase by $10 million or 4%, while the Performance Chemicals (PC) segment sales decreased by $29 million or 19.5%, and CMMC sales decreased by $22 million or 18% [14] - RUPS generated adjusted EBITDA of $26 million with an 11% margin, while PC delivered adjusted EBITDA of $20 million with a 17% margin [15] - CMMC sales were $101 million, down from $122 million in the prior year, but adjusted EBITDA improved to $10 million from $4 million due to lower raw material costs [18] Market Data and Key Metrics Changes - In the Performance Chemicals business, there was a 21.5% volume decrease in residential and industrial wood treatment preservatives in the Americas [17] - The average pricing of major products increased by 5% compared to the prior quarter, while average coal tar costs were higher by 6% [18] - Year-over-year, first quarter crosstie procurement was down 19% [16] Company Strategy and Development Direction - The company is focusing on improving business performance and margins through cost structure adjustments and resizing the employee base [6] - The acquisition of Brownwood Preserving Company is expected to enhance product offerings and geographic reach [11] - The company aims to maintain a balanced approach to capital allocation, targeting $65 million in net capital expenditures for 2025 [19][32] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about economic uncertainty affecting demand, particularly in the Performance Chemicals segment [23][24] - There is an expectation for a volume pickup in the second half of the year based on market feedback, despite worries about high interest rates [25][46] - The company anticipates consolidated sales of $2 billion to $2.2 billion in 2025, with adjusted EBITDA forecasted at $280 million [30][31] Other Important Information - The company was recognized for its sustainability efforts, being named to USA Today's list of America's climate leaders for the third consecutive year [12] - A quarterly cash dividend of $0.08 per share was declared, representing a 14% increase over the previous year's dividend [21] Q&A Session Summary Question: How does the utility pole product mix help margins going forward? - The utility pole business historically generates better margin performance, and growth in this area is expected to positively impact margins [38] Question: Are contracts with Class 1s satisfactory? - There is still work to be done on contracts, but the situation has improved [40] Question: What drives the expected growth in the second half of the year? - Feedback from the market indicates a volume pickup, along with increased activity in newer markets [46] Question: How does the company plan to manage costs if sales trend towards the lower end of guidance? - The company has several cost measures in place to maintain EBITDA guidance even with lower sales [57] Question: What are the priority uses of cash flow? - The focus is on share repurchases and deleveraging the balance sheet [68] Question: Are there attractive M&A opportunities due to economic disruption? - The company remains active in discussions for potential acquisitions, particularly in the utility and industrial products business [70] Question: Why not accelerate stock buybacks given the low share price? - There are limitations within credit agreements, but the company intends to be consistent in its share repurchase approach [78]

Financial Data and Key Metrics Changes - Ongoing earnings for Q1 2025 were $0.19 per share, aligning with expectations and reflecting the midyear implementation of new rates at PNM [4][23] - The company affirmed its 2025 guidance range of $2.74 to $2.84 per share, maintaining a long-term EPS growth target of 7% to 9% [5][26] Business Line Data and Key Metrics Changes - TNMP set a new system peak in Q1, 22% higher than the previous year, with demand-based load increasing by 9.7%, driven by growth in North and West Texas [9][10] - Data center load increased by 70 megawatts in Q1, with expectations of an additional 150 megawatts by year-end [10] - The system resiliency plan was approved, allowing for $546 million in capital improvements [5][10] Market Data and Key Metrics Changes - Interconnection requests increased by 6% compared to Q1 of the previous year, particularly in the Gulf Coast area [10] - The New Mexico legislative session resulted in key bills aimed at expediting infrastructure build-out for large customers, enhancing competitiveness [6][7] Company Strategy and Development Direction - The company is focused on supporting growth in Texas with a reliable and resilient grid, with capital investments projected to grow from $600 million this year to over $1 billion starting in 2028 [12] - The regulatory agenda includes upcoming rate reviews and resource applications, with a focus on balancing system needs and customer rate impacts [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in executing the capital plan and achieving growth targets, emphasizing the importance of size and scale in financing large capital expenditures [36] - The company is optimistic about the impact of recent legislation on its operations and financial performance [6][64] Other Important Information - The company has not made changes to its five-year capital investment plan, which includes significant investments in transmission development [19][20] - The upcoming regulatory agenda includes decisions on rate reviews and resource applications, with a focus on improving service and meeting customer demands [20][21] Q&A Session Summary Question: Impact of House Bill 5,247 on TNMP - Management confirmed that House Bill 5,247 would be beneficial to TNMP, allowing for the grouping of costs and reducing regulatory lag [33] Question: Update on TNMP's capital structure and rate design - Management indicated that the upcoming base rate case would primarily focus on rate design, with the current capital structure at 45% equity [44] Question: Confidence in executing the $750 million CapEx for Permian Basin - Management expressed confidence in delivering the capital and noted that CCNs would be filed early next year [47] Question: Progress on New Mexico RFP process - Management stated that the RFP process is on track, with an independent evaluator involved to ensure resource justification [54] Question: Impact of tariffs on capital plans - Management noted that tariffs are expected to have about a 2% impact on capital plans, consistent with other utilities [56] Question: Incremental investment opportunities in transmission - Management indicated that while the five-year period may see limited incremental investments, the long-term outlook for transmission development is significant, estimated at around $4 billion [57]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was approximately $3.9 billion, down 3.6% year over year, primarily due to fewer subscribers in the Pay TV segment, partially offset by increased revenue from the wireless segment driven by ARPU growth and higher handset sales [14] - OIBDA decreased to $400 million in Q1 2025, a decline of $70 million year over year, or approximately 15%, mainly due to increased marketing expenses in wireless and decreased OIBDA from the Pay TV segment [14] - Free cash flow before debt service payments was positive at $77 million, while free cash flow including debt service was negative $172 million, an improvement of $55 million compared to the prior year [15] Business Line Data and Key Metrics Changes - Wireless segment saw a strong performance with 150,000 net adds in Q1 2025, a significant improvement from an 81,000 net loss in the same period of 2024 [7] - Hughes business made progress in the enterprise domain, with new contracts and expanded offerings, including a new single panel version of the LEO antenna [10] - Pay TV revenue decreased by 6.9% to $2.5 billion due to a lower average subscriber base, although ARPU increased by over $3 or 3% year over year [16][12] Market Data and Key Metrics Changes - Wireless revenue increased by 6.4% to $973 million, driven by 3.3% ARPU growth and higher handset sales [16] - Pay TV OIBDA decreased to $730 million from $756 million, while OIBDA per subscriber increased by 6.8% year over year [17] - Broadband and satellite services revenue decreased by 3.1% to $371 million due to lower sales of broadband services, partially offset by higher hardware sales to enterprise customers [17] Company Strategy and Development Direction - The company aims to target positive operating free cash flow, optimize subscriber profitability from the Pay TV segment, expand Hughes enterprise, and continue growth from Boost Mobile in 2025 [23] - The company is focused on enhancing its network capabilities and has met FCC requirements for 5G deployment ahead of schedule, with over 24,000 5G sites operational [19] - The company is exploring partnerships and distribution channels to enhance market presence and customer acquisition [74] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the performance across business lines and highlighted the importance of retaining profitable customers amid macroeconomic challenges [12][23] - The company is optimistic about its wireless segment's growth potential, citing attractive offers and improved customer retention as key factors [38] - Management emphasized the strategic importance of LEO satellite capabilities and the company's readiness to capitalize on market opportunities as they arise [32][90] Other Important Information - The company reported a total cash and marketable securities balance of $5.4 billion at the end of Q1 2025, a decrease of $464 million compared to year-end [15] - The company is focused on optimizing its capital expenditures, which were significantly reduced in Q1 2025 compared to the previous year [20] Q&A Session Summary Question: What are the potential cost levers within the wireless segment to improve EBITDA? - Management indicated that adding customers directly on their own network is a significant improvement in cost structure, with about 75% of new customers being added directly on net [26][27] Question: How does the LEO strategy fit within the broader product suite? - Management stated that they are preparing to be a leading provider of global direct-to-device connectivity and are focused on engineering and planning for LEO satellite deployment [32] Question: What is resonating in the market that helps build momentum in wireless? - Management highlighted attractive offers and significant reductions in churn as key factors contributing to net adds in the wireless segment [38] Question: What is the plan for capital expenditures moving forward? - Management confirmed that CapEx will be lower in 2025 but will ramp up as build-out deadlines approach, with a focus on a success-based build strategy [41] Question: Can you provide an update on the litigation with DBS bondholders? - Management declined to comment on the litigation status [51] Question: What investments will be made in distribution and advertising? - Management confirmed that they are working on additional distribution channels and digital sales, with plans to increase routes to market [74]