Financial Data and Key Metrics Changes - Shipments increased by 6% to 373,000 tonnes compared to Q3 2024, driven by higher shipments across all operating segments [7] - Revenue rose by 20% to $2.2 billion compared to Q3 2024, attributed to higher shipments and increased revenue per tonne, including higher metal prices [7] - Net income for the quarter was $88 million, a significant increase from $8 million in Q3 2024, primarily due to higher gross profit [8] - Adjusted EBITDA increased by 85% to $235 million, with a record adjusted EBITDA of $196 million when excluding the impact of metal price lag [8][9] - Free cash flow was strong at $30 million for the quarter [8] Business Line Data and Key Metrics Changes - **A&T Segment**: Adjusted EBITDA of $90 million, up 67% year-over-year, with TID shipments up 16% but aerospace shipments down 9% [13][14] - **Packaging Segment**: Adjusted EBITDA of $82 million, a 14% increase year-over-year, with packaging shipments up 11% [15] - **AS&I Segment**: Adjusted EBITDA of $33 million, a 371% increase year-over-year, with shipments up 40% [16] Market Data and Key Metrics Changes - Aerospace market backlogs are at record levels, with major OEMs increasing build rates for aircraft [24] - Demand in the packaging market remains healthy in North America and Europe, with long-term growth expected [25] - Automotive production in Europe remains below pre-COVID levels, with demand weak particularly in luxury and electric vehicle segments [27] Company Strategy and Development Direction - The company is focused on high value-added products, enhancing customer connectivity, and optimizing margins [23] - The leadership transition is aimed at continuing the strong foundation and strategic direction established [5][6] - The company is committed to maintaining a right-sized cost structure and executing its Vision 25 cost improvement program [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term fundamentals driving aerospace demand, despite current supply chain challenges [24] - The company anticipates a modest benefit from recent aluminum supply chain interruptions in automotive, with expectations for improvement in 2026 [28] - Management raised guidance for 2025, targeting adjusted EBITDA of $670 million to $690 million and free cash flow in excess of $120 million [31] Other Important Information - The company completed a divestment of its Nanjing Automotive Structures plant during the quarter [9] - The current tariff environment is manageable, with indirect positive impacts from tariffs expected to continue [10][11] - The company has no bond maturities until 2028, with strong liquidity of $831 million as of the end of Q3 [22] Q&A Session Summary Question: Impact of scrap spread on future quarters - Management indicated that scrap spreads have tightened in 2024 and are expected to widen in 2025, with a potential impact of $15 to $20 million per quarter [35][41] Question: Aerospace margin outlook - Management noted that the aerospace segment has maintained strong margins due to a wide product portfolio and R&D capabilities, with expectations for continued improvement [47][56] Question: European market recovery indicators - Management highlighted mixed signals in the European market, with some sectors stabilizing while others remain weak, particularly in automotive [80][85] Question: Benefits from rising aluminum prices - Management clarified that rising aluminum prices primarily impact cash flow due to increased inventory costs, while scrap spreads are expected to provide some benefits [86][87]

Renasant (NYSE:RNST) Q3 2025 Earnings Call October 29, 2025 10:00 AM ET Speaker5Good day, and welcome to the Renasant Corporation 2025 third quarter earnings conference call and webcast. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press the star then one on your telephone keypad. To withdraw your q ...

Financial Data and Key Metrics Changes - The company reported revenue of $530 million for Q3 2025, representing a 12% year-over-year increase and an adjusted EPS of $0.48, up 11% year-over-year [4][21] - Adjusted EPS for the quarter was $0.48, reflecting a 10.8% year-over-year increase [24] - Revenue for the first nine months of 2025 was $1.55 billion, up 14% year-over-year on a constant currency basis [25] Business Line Data and Key Metrics Changes - Data and AI-led revenue grew 18% year-over-year, accounting for 56% of total revenue [4][6] - Digital operations revenue increased by 6% year-over-year, with some revenue shifting to the data and AI-led category [6] - The insurance segment grew 9% year-over-year, contributing a third of total revenue [6] - Healthcare and life sciences segment grew 22% year-over-year, driven by demand for data and AI solutions [6][22] - Banking, capital markets, and diversified industries grew 12% year-over-year, representing nearly a quarter of total revenue [7][22] Market Data and Key Metrics Changes - International growth markets segment generated revenue of $92.8 million, up 8.4% year-over-year [23] - The company noted a positive demand environment and an expanding sales pipeline for data and AI-led opportunities [8][9] Company Strategy and Development Direction - The company is focused on embedding AI into client workflows and has launched EXLdata.ai to help clients make their data AI-ready [12][13] - The strategy includes expanding capabilities in data and AI, with a strong emphasis on client engagement and innovation [11][56] - The company aims to maintain double-digit growth momentum into 2026, supported by a healthy new business pipeline [20][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustained double-digit growth due to the increasing demand for AI-driven solutions [36][40] - The company is raising its revenue and EPS guidance for the full year based on strong performance and visibility [27][28] - Management highlighted the importance of transforming client business models and expanding total addressable markets through AI adoption [9][36] Other Important Information - More than 75% of the company's revenue is recurring or annuity, providing stability and predictability [11] - The company has received several industry recognitions for its AI services and solutions leadership [17][18] Q&A Session Summary Question: Change in overall demand environment - Management characterized the overall demand as very strong, with an expanding total addressable market for services and solutions [30][32] Question: Expectations for digital operations growth - Management indicated that digital operations growth is impacted by revenue shifting to data and AI-led categories, with a current growth rate of 6% [46][47] Question: Client relationship management changes - The company is enhancing client engagement by training teams to discuss complex technologies and expanding conversations to include higher-level executives [52][54] Question: Outlook for healthcare segment growth - Management believes the healthcare business has significant growth potential due to the data-rich and fragmented nature of the market [62][64] Question: Margin expectations for next year - Management expects more stable margin growth in 2026, with an adjusted margin improvement of 10 to 20 basis points per year [67][68] Question: Landscape for EXLdata.ai product - Management noted that while other companies are developing similar solutions, EXLdata.ai differentiates itself by using AI to prepare data for AI readiness [71][72] Question: International segment growth acceleration - The company is investing in marketing and talent to accelerate growth in international markets [75] Question: Requirements for deploying enterprise AI - Management discussed two engagement motions: standalone capabilities for data readiness and integrated solutions for embedding AI into workflows [78][80]

Ferrovial (NasdaqGS:FER) Q3 2025 Earnings Call October 29, 2025 10:00 AM ET Speaker2Good afternoon, everybody. This is Silvia Ruiz speaking, and I would like to welcome you to Ferrovial's conference call to discuss the financial results for the third quarter of 2025. I'm joined here today by our CFO, Ernesto López Mozo. Just as a reminder, both the results report and the presentation are available on our website since yesterday evening after the U.S. market was closed. At the end of the presentation, there ...

Financial Data and Key Metrics Changes - Overall net sales decreased 5% year-over-year to $1.11 billion from $1.17 billion [4][24] - Residential net sales declined 13% to $627 million compared to $723 million in the prior year [24] - Commercial and industrial (C&I) product sales increased 9% to $358 million from $328 million in the prior year [25] - Gross profit margin was 38.3%, down from 40.2% in the prior year [26] - Adjusted EBITDA was $193 million, representing 17.3% of net sales, compared to $232 million or 19.8% in the prior year [27] - GAAP net income was $66 million, down from $114 million in the prior year [28] - Diluted net income per share was $1.12, compared to $1.89 in the prior year [31] Business Line Data and Key Metrics Changes - Home standby and portable generator shipments grew sequentially but were below seasonal expectations due to a low power outage environment [4][5] - Global C&I product sales increased 9%, driven by domestic telecom and industrial distributor channels [4] - Sales of residential energy technology solutions grew significantly, led by energy storage systems in Puerto Rico [12] Market Data and Key Metrics Changes - International sales increased 11%, benefiting from strong C&I product shipments in Europe and initial shipments to data center customers in Australia [17] - The backlog for large megawatt generators doubled to over $300 million in the last 90 days, indicating strong demand in the data center market [5][18] Company Strategy and Development Direction - The company is focused on leveraging new products and marketing capabilities to drive market share gains and significant sales growth [14] - Plans to recalibrate investment levels in response to a contracting market environment expected in 2026 due to reduced federal incentives [14] - The company aims to expand capacity and capabilities for C&I products, particularly in the data center market, with expectations of doubling C&I product sales over the next three to five years [20][21] Management's Comments on Operating Environment and Future Outlook - Management noted that the low outage environment has negatively impacted demand for home standby and portable generators, but structural trends indicate ongoing challenges with power reliability [21][22] - The company anticipates a contraction in the solar and storage market in 2026 but remains optimistic about long-term growth due to rising electricity prices and declining component costs [14][59] - Management expressed confidence in the data center market's growth potential, with significant backlog and ongoing discussions with hyperscalers [19][46] Other Important Information - The company expects consolidated net sales for the full year 2025 to be approximately flat compared to the prior year, with a shift in sales mix impacting gross and adjusted EBITDA margins [32][33] - Free cash flow is projected to be approximately $300 million for fiscal 2025, providing flexibility for future investments [35] Q&A Session Summary Question: What have you learned about the data center market opportunity? - The company sees a unique opportunity in the data center market due to supply constraints and ongoing demand for backup power solutions [44][45] - Conversations with hyperscalers are productive, and the company is optimistic about becoming an approved supplier [46] Question: How should we think about 2026 with the current moving parts? - Management indicated that the weak outage environment is temporary and expects a return to growth in residential products if outages normalize [53][55] - The company anticipates a contraction in the solar and storage market but remains confident in long-term growth potential [59][60] Question: What are the biggest challenges in adding capacity quickly? - The company is confident in its ability to bring new products online and has made significant upgrades to its facilities to support this [87] - Supply chain constraints are not expected to be a major issue, as the engine partner has ample capacity [88]

Financial Data and Key Metrics Changes - ILPT reported third-quarter normalized FFO of $17.4 million or $0.26 per share, representing a 26% increase sequentially and a 116% increase year-over-year [11] - Same property cash basis NOI increased by 3% compared to the same period last year, supported by strong renewal activity and rent growth [5] - Interest expense decreased by $4.4 million compared to the second quarter of 2025, totaling $63.5 million, due to a $1.16 billion fixed-rate debt refinancing completed in June [11] Business Line Data and Key Metrics Changes - The company completed 836,000 square feet of leasing during the third quarter, with renewals accounting for 70% of the activity [6][9] - The weighted average rental rates for the new leases were 22% higher than prior rates for the same space [6] - The portfolio consists of 411 distribution and logistics properties across 39 states, totaling 60 million square feet, with a weighted average lease term of 7.4 years [5] Market Data and Key Metrics Changes - Consolidated occupancy was reported at 94.1%, outperforming the U.S. industrial average by 150 basis points [6] - The leasing pipeline now exceeds 8 million square feet, with anticipated near-term conversion of approximately 75% [9][10] Company Strategy and Development Direction - The company is focused on evaluating opportunities to improve its balance sheet and reduce leverage, identifying three properties for sale totaling 867,000 square feet [7] - The anticipated sales price for these properties is approximately $55 million, with proceeds used to partially repay a $700 million loan due in 2032 [8] Management's Comments on Operating Environment and Future Outlook - Management noted that despite macroeconomic and tariff uncertainties, the industrial real estate sector continues to show resilience [4] - Looking ahead to the fourth quarter of 2025, normalized FFO is expected to be between $0.27 and $0.29 per share, excluding incentive fees [13] Other Important Information - The company recognized a $6.1 million impairment charge on one of the properties held for sale [12] - The net debt-to-total assets ratio decreased slightly to 69.3%, with a net debt coverage ratio remaining unchanged at 12 times [12] Q&A Session Summary Question: Guidance on incentive fees - Management indicated that a full-year incentive fee of $6.3 million would be recorded, with less than $2 million expected in Q4 [16][18] Question: GAAP rent increase on mainland assets - A specific deal with the United States Postal Service drove down the GAAP rent increase to 1.8% [23][25] Question: Disposition opportunities in 2026 - Management is constantly evaluating the portfolio and may sell more properties in 2026, particularly within the Mountain joint venture [28] Question: Update on leasing in Indianapolis - There are three proposals out in Indianapolis, with optimism for leasing in the first half of next year [30] Question: Leasing updates in Hawaii - A prospect for a full-site user is currently in diligence, with hopes for a lease [35] Question: Overall leasing and renewal outlook for 2026 - Management is making good progress on 2026 and 2027 expirations, with many signed LOIs or active lease negotiations [36]

OneSpaWorld (NasdaqCM:OSW) Q3 2025 Earnings Call October 29, 2025 10:00 AM ET Speaker5Good day and welcome to the OneSpaWorld third quarter 2025 earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star then tw ...

Brinker International (NYSE:EAT) Q1 2026 Earnings Call October 29, 2025 10:00 AM ET Speaker1Good day and welcome to the Brinker International earnings call for Q1 financial year 2026. At this time, all participants have been placed on listen only mode. The floor will be open for questions and comments following the presentation. It is now my pleasure to turn the floor over to your host, Kim Sanders, Vice President of Investor Relations. Kim, the floor is yours.Speaker0Thank you, Paul, and good morning, ever ...

Financial Data and Key Metrics Changes - In Q3 2025, Ryerson reported net sales of $1.16 billion, a decrease of $7.8 million, or less than 1%, compared to the previous quarter [12] - Adjusted EBITDA excluding LIFO for Q3 was $40.3 million, down from $45 million in the prior quarter [13] - The company experienced a net loss of $14.8 million, or $0.46 per diluted share, compared to a net income of $1.9 million and diluted earnings per share of $0.06 in the prior quarter [12][13] - Gross margin contracted by 70 basis points to 17.2%, with gross margin excluding LIFO also contracting to 18.3% [12] Business Line Data and Key Metrics Changes - The company saw average selling prices increase by 2.6%, while tons shipped decreased by 3.2% due to rising prices [12] - The OEM book of business has seen activity below customer forecasts and historical mid-cycle trends, indicating a challenging environment [4] Market Data and Key Metrics Changes - The market backdrop remains difficult, characterized by falling industry shipments year over year and sequentially, with notable carbon steel margin compression [3] - Demand remains depressed, with customers quoting less and buying less throughout Q3 [4] Company Strategy and Development Direction - The company is focused on improving customer experience and optimizing its service center network to enhance performance [5] - Ryerson announced a merger agreement with Olympic Steel, which is expected to create a stronger financial profile and enhance market presence as the second largest metal service center in North America [18][29] - The merger is projected to yield $120 million in synergies phased in over two years, contributing to future margin enhancement [18][30] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing recessionary conditions in the industry and anticipates that demand challenges will persist at least through the end of the year [8] - The company expects Q4 volumes to soften by 5% to 7%, aligning with typical seasonality patterns [8] - Management remains optimistic about the potential for the OEM side of the commercial portfolio to eventually inflect positively [4] Other Important Information - The company ended Q3 with $500 million in total debt and $470 million in net debt, representing a decrease compared to the prior quarter [9] - The cash conversion cycle increased to 68 days from 66 days in the prior quarter [11] Q&A Session Summary Question: Expectations for cash generation in Q4 - Management expects a decent working capital release and cash flow from operations in Q4, typically seeing between $70 million and $80 million of working capital release [72][76] Question: Opportunities for market share growth post-merger - Management highlighted cross-selling and upselling opportunities as key to gaining market share, with Ryerson having about 40,000 active accounts and Olympic around 8,000 to 9,000 [80] Question: Plans for segment reporting post-merger - Management indicated that they will determine the best approach for segment reporting between signing and closing the merger [82] Question: Costs associated with achieving synergies - Management acknowledged that there will be costs to realize synergies, potentially up to $40 million, but emphasized that these synergies are based on current market conditions [93] Question: Incremental EBITDA margins with market improvement - Management suggested that with market tailwinds, EBITDA margins could improve to the 6% to 8% range, compared to the current pro forma margin of 6% [96]

Financial Data and Key Metrics Changes - Total revenue increased from $29.6 million in Q3 2024 to $31.1 million in Q3 2025, representing a 4.9% year-over-year growth [10] - Funds from operations (FFO) rose to $13.5 million in Q3 2025, a 5.7% increase compared to $12.8 million in Q3 2024 [13] - Adjusted funds from operations (AFFO) totaled $15.1 million in Q3 2025, a 3.1% increase year-over-year [13] - The AFFO dividend payout ratio remained strong at 85% [13] Business Line Data and Key Metrics Changes - Occupancy decreased from 90.7% to 90.1% during the quarter, but new leases signed in October are expected to increase leased occupancy by 50 to 100 basis points by year-end [5] - Weighted average lease term increased slightly from 6.6 to 6.7 years [6] - One inpatient rehabilitation facility was acquired for $26.5 million, with an anticipated annual return of approximately 9.4% [6] Market Data and Key Metrics Changes - The company is seeing attractive opportunities in the market with cap rates in the 9% to 10% range [17] - The geriatric behavioral hospital operator, a tenant in six properties, paid approximately $200,000 in rent during the quarter, down from approximately $800,000 previously [21] Company Strategy and Development Direction - The company is focused on capital recycling to fund acquisitions without increasing leverage [9][19] - The strategy includes being selective in acquisitions and focusing on high-quality assets with attractive returns [17][31] - The company plans to close on one property in Q4 2025, with additional properties closing throughout 2026 and 2027 [6] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about leasing activity and expects a tailwind for growth in 2026 [28] - There is a cautious approach regarding the acquisition pipeline, with a focus on maintaining modest leverage levels [9][19] - Management is actively pursuing multiple plans to resolve issues with the behavioral health tenant and is motivated to increase rent [24] Other Important Information - The company declared a dividend of $0.4750 per common share for Q3 2025, marking a continuous increase since the IPO [9] - The company expects to close on the sale of an inpatient rehabilitation facility in Q4 with an expected gain of approximately $11.5 million [8] Q&A Session Summary Question: What is the status of the acquisition pipeline? - Management stated they are being highly selective and see attractive opportunities in the market, but are cautious about issuing shares at depressed levels [17] Question: What are the expectations for the behavioral health tenant's rent? - The tenant previously paid approximately $800,000 per quarter but only paid $200,000 in the current quarter [21] Question: When is the acquisition expected to close? - Management hopes to close by year-end but realistically expects it to occur in Q1 2026 [23] Question: What is the likelihood of recovering unpaid rents from the tenant? - Management does not put a high likelihood on recovering unpaid rents but is focused on getting paid more rent in the future [25] Question: How is the company identifying assets for disposal? - The company evaluates tenant concentration, weighted average lease term, and market conditions when identifying assets for disposal [31]