Financial Data and Key Metrics Changes - Welltower reported a normalized FFO per share increase of 18% year-over-year, driven by the senior housing operating portfolio [6][15] - The company achieved total portfolio same-store NOI growth of 12.8% for Q4 2024 [33][66] - For the full year of 2024, Welltower experienced 23% revenue growth, 26% EBITDA growth, and nearly 20% FFO per share growth [15][66] Business Line Data and Key Metrics Changes - The senior housing operating portfolio saw same-store NOI growth of nearly 24% in Q4, marking the ninth consecutive quarter of growth exceeding 20% [8][33] - The outpatient medical business reported stable same-store NOI growth of 2% year-over-year, with an occupancy rate of 94.3% [34][66] - The senior housing triple net portfolio experienced a same-store NOI increase of 5.1% year-over-year [68] Market Data and Key Metrics Changes - The favorable end-market environment contributed to strong occupancy growth, with the SHARP portfolio achieving average same-store occupancy growth of 120 basis points sequentially and 310 basis points year-over-year [8][10] - The company noted that over a quarter of the portfolio remains sub-80% occupied, indicating potential for future growth [97] Company Strategy and Development Direction - Welltower's strategy focuses on capital deployment, with $7 billion of capital deployed in 2024 and a robust pipeline for 2025 [21][58] - The company aims to enhance its operating platform through digital transformation and internal expertise, which is expected to drive further margin expansion [25][41] - A sixth growth pillar was introduced, focusing on the launch of a private funds management business, which is anticipated to create significant revenue opportunities [29][116] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2025, expecting another year of exceptional net operating income growth [13][47] - The company highlighted the strong fundamentals of the senior housing business, which are expected to weather economic headwinds better than other sectors [19][20] - Management acknowledged the challenges in the commercial real estate debt market but emphasized the opportunities for acquiring high-quality properties at attractive valuations [50][55] Other Important Information - Welltower's net debt to adjusted EBITDA ratio improved to 3.49 times, reflecting a significant reduction from the previous year [70] - The company has a liquidity position of $9 billion, providing ample capacity for future growth [28] Q&A Session Summary Question: Can you provide insights on pricing power across occupancy bands within the SHARP portfolio? - Management indicated that RevPAR growth is strong at 90%+ occupancy, while assets below 70% occupancy are roughly flat, with a gradient of growth observed between these bands [96][97] Question: How does the reduction in new deliveries impact the acquisition of lease-up properties? - Management believes that their long-term track record of success in finding under-performing buildings will continue, despite fewer new deliveries [101][104] Question: How does Welltower approach talent retention? - Management emphasized that retaining talent is a top priority, and there is currently no retention problem, but proactive measures are being taken to maintain a positive culture [110][111] Question: Can you discuss the targeted IRRs for stabilized versus non-stabilized assets in the private funds management business? - Management stated that no further details could be provided at this time, but they are fundamentally focused on growth investments rather than yield investments [115][116] Question: What is the expected performance of non-same-store assets in terms of NOI growth? - Management did not provide specific guidance on non-same-store assets but indicated that there is potential for better performance compared to same-store guidance [118]

Franklin Street Properties Corporation. (NYSE:FSP) Q4 2024 Earnings Conference Call February 12, 2025 11:00 AM ET Company Participants Scott Carter - EVP, General Counsel & Secretary John Demeritt - EVP, CFO & Treasurer George Carter - Chairman & CEO John Donahue - EVP Jeffrey Carter - President & Chief Investment Officer Conference Call Participants Steven Dumanski - Janney Operator Thank you for standing by. My name is Karen, and I will be your conference operator today. At this time, I would like to welc ...

Exelon Corporation. (NASDAQ:EXC) Q4 2024 Earnings Conference Call February 12, 2025 10:00 AM ET Company Participants Andrew Plenge - Vice President, Investor Relations Calvin Butler - President and Chief Executive Officer Jeanne Jones - Chief Financial Officer Colette Honorable - Executive Vice President, Public Policy and Chief External Affairs Officer Michael Innocenzo - Chief Operating Officer Carim Khouzami - President and CEO of Baltimore Gas & Electric Company David Velazquez - President & CEO of PECO ...

Financial Data and Key Metrics Changes - HIVE Digital Technologies reported $29 million in revenue for the quarter, with a gross operating margin of $6.1 million, resulting in a 21% operating margin [58] - The company achieved an adjusted EBITDA of $17.3 million and mined 2,805 Bitcoin, all sourced from green energy, with no debt on these assets [59] - The annualized Return on Invested Capital (ROIC) reached 37%, leading the industry [59] Business Line Data and Key Metrics Changes - HIVE's strategy focuses on capital deployment prioritizing ROIC, with a target to achieve 3% of the global hashrate, aiming for 25 exahash by September 2025 [64] - The company is expanding its AI and HPC business, achieving $10 million in annualized revenue this quarter, with a target of $20 million [65][112] Market Data and Key Metrics Changes - HIVE's market cap is currently under $400 million, with projections indicating potential cash flows of over $500 million if Bitcoin reaches $150,000 [78][80] - The company is positioned to benefit from the growing adoption of Bitcoin ETFs, with significant assets flowing into this market [40][41] Company Strategy and Development Direction - HIVE is relocating its head office from Vancouver to San Antonio to align with a pro-crypto regulatory environment and enhance operational efficiencies [54][30] - The acquisition of Bitfarms facilities will enhance HIVE's operating capacity in Paraguay to 300 megawatts, significantly increasing its mining hashrate [48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the future of Bitcoin, citing historical trends of price increases following halving events, with expectations for Bitcoin to reach between $120,000 and $180,000 in 2025 [81] - The company is optimistic about the supportive regulatory environment under the new U.S. administration, which is expected to bolster the crypto industry [29][30] Other Important Information - HIVE's HODL (Hold On for Dear Life) Bitcoin balance has increased to 2,805 Bitcoin, reflecting a 4x growth year-over-year [99] - The company has maintained the lowest dilution across its peer set while achieving the highest growth prospects in the industry [102] Q&A Session Summary Question: What is HIVE's strategy for growth in the current market? - HIVE is focusing on expanding its hashrate to 25 exahash by September 2025 and is strategically acquiring facilities to enhance its operational capacity [64][48] Question: How does HIVE plan to manage costs and maintain profitability? - The company emphasizes disciplined capital deployment and maintaining low G&A costs per Bitcoin mined, which has been effective even during bear markets [96][97] Question: What are the expectations for Bitcoin prices in the near future? - Management anticipates Bitcoin could reach between $120,000 and $180,000, driven by historical trends and current market dynamics [81]

Financial Data and Key Metrics Changes - The company ended Q4 2024 with cash, cash equivalents, and investments of $198.2 million, down from $239 million as of December 31, 2023, indicating a decrease in liquidity [25] - R&D expenses for the year were $168.6 million, significantly up from $70.4 million in 2023, with Q4 R&D expenses at $44.6 million compared to $23.7 million in Q4 2023 [26] - Net loss for the year was $177.8 million, compared to $71.9 million in 2023, with Q4 net loss at $48.9 million versus $24.4 million in Q4 2023 [29] Business Line Data and Key Metrics Changes - The company is focused on clinical programs targeting dysregulated aldosterone in patients with uncontrolled and resistant hypertension, with pivotal trials Advance-HTN and Launch-HTN ongoing [10][11] - The Advance-HTN trial enrolled 285 subjects, while the Launch-HTN trial has 1,083 subjects, both designed to evaluate the efficacy and safety of lorundrostat [11][12] Market Data and Key Metrics Changes - The company anticipates announcing top-line data for the Advance-HTN trial in March 2025 and for the Launch-HTN trial in the mid-first half of 2025 [9][50] - The resistant hypertension population is estimated to be about 10% to 15% of the treated population, translating to approximately 7.5 million to 10 million subjects [74] Company Strategy and Development Direction - The company aims to create healthier days for patients with cardiorenal metabolic disorders, focusing on the unmet medical need in uncontrolled and resistant hypertension [10] - The strategic focus includes the development of lorundrostat as a new therapy that could change the current treatment paradigm for hypertension [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the upcoming data readouts and the potential of lorundrostat to demonstrate meaningful benefits in patients with uncontrolled or resistant hypertension [16] - The company remains enthusiastic about the progress made in 2024 and the upcoming data milestones planned for the first half of 2025 [117] Other Important Information - The company completed enrollment in the Explore-CKD Phase II trial, which evaluates lorundrostat's efficacy in patients with chronic kidney disease [18] - The Explore-OSA Phase II trial is set to evaluate lorundrostat's effect on moderate-to-severe obstructive sleep apnea [20] Q&A Session Summary Question: Confidence in SBP reduction extrapolation from Phase II trial - Management expressed confidence in the 50 mg QD dose based on totality of evidence and previous trial data [34][36] Question: Mechanism of improvement in OSA trial - Management indicated that both fluid volume reduction and non-genomic effects may contribute to improvements in the apnea-hypopnea index [40][42] Question: Guidance on Advance and Launch readout timelines - Management confirmed that Advance-HTN results are expected in March, while Launch-HTN results are anticipated in the mid-first half of 2025 [49] Question: Compliance expectations for ABPM device - Management assured that training and experience with the device would ensure high compliance and quality data collection [54][56] Question: Threshold for hyperkalemia rates in trials - Management indicated that a hyperkalemia rate of 5% or less is viewed favorably, with expectations that diuretics may offset potassium increases [78][82] Question: Differences in treatment effect between pivotal studies - Management noted that while Advance may be more rigorous, it could also be enriched for aldosterone-driven hypertension, making direct comparisons challenging [101][102]

Start Time: 10:00 January 1, 0000 10:42 AM ET SFL Corporation Ltd. (NYSE:SFL) Q4 2024 Earnings Conference Call February 12, 2025, 10:00 AM ET Company Participants Ole Hjertaker - CEO Trym Sjølie - COO Aksel Olesen - CFO Espen Nilsen Gjøsund - VP, IR Conference Call Participants Gregory Lewis - BTIG Børge Bakke - Fearnley Securities Espen Nilsen Gjøsund My name is Espen Gjøsund. I'm Vice President of Investor Relations in SFL. Our CEO, Ole Hjertaker, will start the call with an overview of the fourth quarter ...

Urban Edge Properties (NYSE:UE) Q4 2024 Earnings Conference Call February 12, 2025 8:30 AM ET Company Participants Areeba Ahmed - Investor Relations Jeff Olson - Chairman & Chief Executive Officer Jeff Mooallem - Chief Operating Officer Mark Langer - Chief Financial Officer Conference Call Participants Ronald Kamdem - Morgan Stanley Floris Van Dijkum - Compass Point Samir Khanal - Evercore ISI Paulina Rojas - Green Street Advisors Operator Greetings. Welcome to Urban Edge Properties' Fourth Quarter 2024 Ear ...

Generac Holdings Inc. (NYSE:GNRC) Q4 2024 Earnings Conference Call February 12, 2025 10:00 AM ET Company Participants Kris Rosemann - Senior Manager of Corporate Development and IR Aaron Jagdfeld - Chairman President and Chief Executive Officer York Ragen - Chief Financial Officer Conference Call Participants Tommy Moll - Stephens Inc. George Gianarikas - Canaccord Genuity Mike Halloran - Baird Jeff Hammond - KeyBanc Capital Markets Brian Drab - William Blair Jerry Revich - Goldman Sachs Kashy Harrison - Pi ...

Avis Budget Group, Inc. (NASDAQ:CAR) Q4 2024 Earnings Conference Call February 12, 2025 8:30 AM ET Company Participants David Calabria - SVP, Corporate Finance and Treasurer Joseph Ferraro - President and CEO Izilda Martins - EVP and CFO Brian Choi - Executive VP and Chief Transformation Officer Conference Call Participants John Babcock - Bank of America Christopher Stathoulopoulos - Susquehanna Financial Harold Antor - Jefferies Jash Patwa - J.P. Morgan Chase Dan Levy - Barclays Bank Chris Woronka - Deutsc ...

Financial Data and Key Metrics Changes - Eversource Energy reported earnings per share (EPS) of $2.27 for 2024, compared to a GAAP loss of $1.26 per share in 2023, reflecting a significant turnaround [34] - Non-GAAP earnings were $4.57 per share in 2024, up from $4.34 per share in 2023, marking a year-over-year growth rate of 5.3% [34] - The company ended 2024 with over 5% growth in earnings and increased its first quarter 2025 dividend by 5.2% on an annualized basis [20] Business Line Data and Key Metrics Changes - Electric transmission earned $2.03 per share in 2024, up from $1.84 per share in 2023, driven by investments in service reliability [35] - Electric distribution earnings were $1.77 per share in 2024, slightly up from $1.74 per share in 2023, due to increased revenues from base distribution rate increases [36] - Natural gas distribution earned $0.81 per share in 2024, compared to $0.64 per share in 2023, attributed to higher base distribution rate increases [36] - Water distribution segment earned $0.12 per share in 2024, up from $0.09 per share in 2023, primarily due to lower depreciation expenses [37] Market Data and Key Metrics Changes - The company received approval for a $77 million revenue increase effective November 1, 2024, in Massachusetts, with additional increases planned [40] - In New Hampshire, a rate review filing requested a $182 million increase effective August 1, 2025, with an interim increase of $61 million approved [43] Company Strategy and Development Direction - Eversource is focused on enhancing operational efficiency, investing in regulated opportunities, and delivering value to shareholders and customers [62] - The company plans to increase its five-year capital investment plan by nearly 10%, primarily aimed at transmission investments to address aging infrastructure [21] - Eversource aims to maintain a strong focus on customer satisfaction and reliability while expanding its diverse energy initiatives [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a long-term earnings growth rate of 5% to 7%, despite headwinds in 2025 [60] - The company is committed to improving its balance sheet and expects significant improvement in cash flows from operations in 2025 [57] - Management highlighted the importance of regulatory relationships and constructive rate mechanisms to support future growth [26] Other Important Information - Eversource announced the sale of Aquarion Water for approximately $2.4 billion, which will help reduce debt and strengthen the balance sheet [32] - The company was recognized as one of America's most responsible companies by Newsweek for its commitments to environmental, social, and corporate governance [14] Q&A Session Summary Question: Support for PURA expansion in Connecticut - Management stated they are indifferent to whether PURA has three or five commissioners, emphasizing the need for a fair and transparent process [69] Question: FFO to debt target for 2025-2029 - Management confirmed that the focus remains on improving the FFO to debt ratio, aiming to maintain it well above the Moody's downgrade threshold of 13% [76] Question: Timing and methodology for equity financing - Management indicated that they plan to utilize the ATM program for future equity needs, allowing for controlled market entry [83] Question: Impact of gas line extension proposals in Massachusetts - Management noted that it is premature to discuss the implications of the DPU's proposal to end most gas line extensions, as they are still formulating their response [130] Question: Timeline for the lawsuit against PURA - Management stated there is no set timeline for the court's decision regarding the lawsuit filed for transparency from PURA [100] Question: Drivers for long-term growth rate - Management highlighted the recovery of deferred storm costs and constructive rate mechanisms as key drivers for achieving the 5% to 7% growth rate in the future [108]