Globalstar (GSAT) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Rebecca Clary - VP & CFOPaul Jacobs - CEOMike Crawford - SMD & Head of Discovery Group Operator Day, and thank you for standing by. Welcome to the Globalstar First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. You will then hear an automated message advising your hand is raised. To ...

Financial Data and Key Metrics Changes - In Q1 2025, net sales were $340 million, a decrease of 9% compared to $374 million in Q1 2024, primarily due to a $40 million benefit from channel inventory build in the previous year that did not repeat [23][25] - Gross profit was $138 million with a gross margin of 40.5%, down from $170 million and 45.4% year-over-year, attributed to railing conversion costs and lower production levels [24][25] - Net income decreased by 32% to $60 million or $0.56 per diluted share, compared to $89 million or $0.82 per diluted share in the prior year [25] Business Line Data and Key Metrics Changes - New products launched in the last 36 months accounted for approximately 22% of trailing twelve-month sales, more than double the level from the previous year [9][18] - The company is seeing strong demand for premium products across all channels, with a notable increase in dealer conversions to the Trex brand [9][20] Market Data and Key Metrics Changes - The repair and remodel market is projected to rebound, with spending expected to increase from a low of $1 per square foot in 2024 back to the long-term average of $1.26 by 2027 [16][17] - The company anticipates outperforming the repair and remodel market in 2025, driven by new product introductions and market share gains [17][26] Company Strategy and Development Direction - The company is focused on enhancing its product offerings through innovation, with a commitment to serving consumers across all price points [18][19] - Trex is expanding its distribution partnerships and enhancing brand alignment with contractors to drive sales [14][20] - The new manufacturing campus in Arkansas is expected to improve operational efficiency and reduce costs [15][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's market position despite macroeconomic challenges and competitive pressures [28][29] - The company is maintaining its full-year guidance for 2025, expecting net sales growth between 5% to 7% and adjusted EBITDA margin to exceed 31% [26] Other Important Information - The company is implementing a new inventory strategy to reduce quarterly volatility and ensure adequate supply to meet consumer demand [11] - Tariff impacts are projected to affect less than 5% of cost of sales, with mitigation strategies in place [12][88] Q&A Session Summary Question: What drove the changes to the Enhance product line? - Management noted customer feedback led to manufacturing changes that improved the strength and aesthetics of the product [31][32] Question: What are the expectations for gross margins in Q2? - Management indicated that Q2 margins would be similar to Q1, primarily due to ongoing costs from product enhancements [33][34] Question: What is the sell-through rate for Q1? - The company reported strong demand for premium products and a turnaround in entry-level products, aligning with full-year guidance [40][41] Question: How will inventory practices affect seasonality? - Management expects a return to more normal seasonal patterns, with a strong first quarter followed by a slight decline in the third and fourth quarters [45][46] Question: What are the impacts of tariffs on costs? - The company has limited exposure to China and is exploring alternative sourcing options to mitigate tariff impacts [88][89] Question: How is the entry-level market performing? - There has been sequential improvement in entry-level products, with expectations for continued stabilization [114][115]

ModivCare (MODV) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants L. Heath Sampson - President & CEO Conference Call Participants Pito Chickering - AnalystMichael Petusky - Managing Director & Senior Research Analyst Operator Good day, everyone, and welcome to Motive Care's First Quarter twenty twenty five Financial Results Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. Please note this conferen ...

Financial Data and Key Metrics Changes - Total revenue for the quarter was approximately $57 million, with cash NOI around $46 million [12] - Net loss attributable to common shareholders was approximately $49.4 million, or $1.35 per share, including a noncash impairment of about $52 million related to potential asset sales in the office segment [12] - Same store cash NOI increased by 5.8% in the industrial segment and 3.1% in the office segment, resulting in an overall increase of 4% compared to the same quarter last year [12] - Core FFO and AFFO were both approximately $24.6 million, or $0.62 per share on a fully diluted basis [12] Business Line Data and Key Metrics Changes - The industrial segment's ABR increased by $2.4 million quarter over quarter, driven by a 10% rise in AVR from iOS properties [4] - Industrial segment ABR represented 41% of total ABR at quarter end and 43% on a pro forma basis after accounting for office dispositions [5] - Significant leasing activity included a fully leased iOS redevelopment property in Everett, Washington, contributing approximately $1.7 million in incremental ABR [5][6] Market Data and Key Metrics Changes - The company has closed approximately $144 million in office asset sales year to date, with strong investor demand for office assets [5][9] - Office properties with more than five years of remaining term are generally priced on a cap rate basis between 7.5% and 12.5% on in-place NOI [10] - The company has completed over $2 billion in office sales across more than 30 markets over the past three years [9] Company Strategy and Development Direction - The company is transitioning to an industrial REIT, focusing on growth in the industrial outdoor storage (iOS) subsector [4] - The strategy includes reshaping the portfolio through targeted iOS growth initiatives and strategic asset sales, primarily in the office segment [4] - The company aims to divest office assets to reallocate capital to higher growth opportunities within the iOS space and reduce leverage [18] Management's Comments on Operating Environment and Future Outlook - Management believes high-quality iOS properties in supply-constrained markets present significant long-term growth opportunities [18] - The company expects to continue paying dividends quarterly, with future decisions made by the board of trustees [17] - Management is optimistic about the future and is actively engaged in the marketplace during the transition [56][57] Other Important Information - The company introduced two new reporting metrics: core FFO and adjusted EBITDAre to enhance comparability in evaluating ongoing performance [11] - Total liquidity at quarter end was approximately $336 million, consisting of cash and available revolver capacity [13] - The weighted average interest rate for all debt remains at 4.4%, with 88% of the debt fixed [16] Q&A Session Summary Question: Can you help us think about the ABR at the remaining five iOS sites? - Management indicated that they are not providing specific guidance on ABR ranges due to the variety of locations but are comfortable with the ranges previously indicated [20][21] Question: What are you seeing in the market regarding additional acquisition opportunities? - Management noted a balanced approach to growth and leverage, with a good pipeline of individual deals and portfolios being evaluated [22][24][25] Question: What is your target leverage and timeline for bringing it down to a comfortable level? - Management's target leverage is in the six times range or below, and they are currently at 6.8 times after recent asset sales [32][33] Question: What will determine how much you push the gas on office dispositions? - Management stated that dispositions are evaluated on a case-by-case basis, focusing on maximizing shareholder value and achieving favorable pricing [36][38] Question: What characteristics differentiate office assets at the lower end of the cap rate range versus the higher end? - Management explained that the differentiation generally comes down to lease duration and specific property characteristics [42][43] Question: How would you characterize tenant demand in the IOS segment? - Management reported stable demand, with interest from tenants willing to take properties as is, and no significant changes in demand since acquiring the properties [49][51]

Performant Financial (PFMT) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Jon Bozzuto - Head - Investor RelationsSimeon Kohl - CEORohit Ramchandani - Chief Financial Officer Conference Call Participants Anderson Schock - Research Analyst Operator Good afternoon, ladies and gentlemen, and welcome to the Performant Healthcare Inc. First Quarter twenty twenty five Earnings Conference Call. At this time, all lines are in listen only mode. Following the presentation, we will conduct a quest ...

Federal Realty Investment Trust (FRT) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Jill Sawyer - Senior Vice President, Head of Investor RelationsDonald Wood - President and CEOWendy Seher - Executive Vice President, Eastern Region President and Chief Operating OfficerDan Guglielmone - Executive Vice President, Chief Financial Officer & TreasurerJeffrey Spector - Managing DirectorMichael Griffin - DirectorJuan Sanabria - Managing DirectorRavi Vaidya - Vice PresidentJan Sweetnam - Exec ...

Entravision Communications (EVC) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Roy Nir - VP of Financial and IRMichael Christenson - Chief Executive OfficerMark Boelke - CFO & Treasurer Operator Greetings, and welcome to the Intravision First Quarter twenty twenty five Earnings Conference Call. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Roynier. Please go ahead. Roy Nir Good afternoon everyone and welcome to Entravision's first quart ...

Bridger Aerospace Group (BAER) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Eric Gerratt - Chief Financial OfficerSam Davis - CEO and PresidentJohn Founders - Senior Vice President of Finance & Capital MarketsAustin Moeller - Director - Equity Research Operator Greetings, and welcome to Breacher Aerospace First Quarter Fiscal twenty twenty five Investor Conference Call. As a reminder, today's call is being recorded. It is now my pleasure to introduce your host, Eric Jarrett, chief fin ...

DocGo (DCGO) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Michael Cole - VP - Investor RelationsLee Bienstock - Chief Executive OfficerNorman Rosenberg - Treasurer & CFOGabrielle Ingoglia - Equity Research AssociateJenny Shen - Equity Research Associate Conference Call Participants Ryan Macdonald - Senior AnalystKieran Ryan - Analyst Operator Good afternoon, ladies and gentlemen, and welcome to the DocGo First Quarter Earnings Conference Call. At this time, all lines are in listen onl ...

Nerdy (NRDY) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants TJ Lynn - VP - Associate General CounselChuck Cohn - Founder, Chairman and CEOJason Pello - CFOBrianna Diaz - Equity Research Associate Conference Call Participants Jason Tilchen - Director & Senior Equity research AnalystYi Fu Lee - VP & Senior Software Equity Research AnalystGreg Gibas - Vice President & Senior Research Analyst Operator Good afternoon, and thank you for attending the Nerdy Incorporated Q1 twenty twenty five E ...