Dave Pahl Welcome to the Texas Instruments Incorporated first quarter 2025 earnings conference call. I'm Dave Pahl, and I'm joined by our Chief Executive Officer, Haviv Ilan, and our Chief Financial Officer, Rafael Lizardi. In addition, Mike Beckman has joined us. As you may know, I will be retiring, and Mike will replace me as Vice President of Investor Relations. Mike has worked at Texas Instruments Incorporated for nearly two decades and has worked directly with me in investor relations for five years. M ...

Financial Data and Key Metrics Changes - In Q1 2025, pre-tax income was $53 million and net income was $39 million, translating to $1.26 per diluted share, while adjusted net income was $42 million or $1.36 per diluted share [23] - Home sales revenues for Q1 were $884 million, down 4% year-over-year due to lower deliveries and average sales price [24] - The average sales price in Q1 was $387,000, a decrease of 1% year-over-year [24] - Adjusted homebuilding gross margin was 21.6%, down from 22.9% in Q4 2024, while GAAP homebuilding gross margin was 19.9%, compared to 20.6% in the prior quarter [26] Business Line Data and Key Metrics Changes - Deliveries totaled 2,284 homes in Q1, a decline of 3% year-over-year, while net new contracts totaled 2,692 homes, a 6% decline versus the previous year but a 33% increase over Q1 2023 [10][24] - The absorption pace averaged 2.8% in Q1 2025, with a sequential increase in February and March, but was trending below Q1 levels in April [10][11] Market Data and Key Metrics Changes - The company experienced a slower than typical spring selling season due to economic uncertainty, interest rate volatility, and eroding consumer confidence [7] - The absorption rate in Texas was particularly low at 2.1%, impacting overall performance [40] Company Strategy and Development Direction - The company aims to balance pace and price at the community level to optimize returns, focusing on monetizing and completing homes while managing starts [11][12] - The community count increased by 26% year-over-year, ending Q1 with 318 communities, and the company expects mid-single-digit percentage growth in community count for year-end 2025 [18] Management's Comments on Operating Environment and Future Outlook - Management noted that while there is underlying demand for affordable new homes, current headwinds are affecting sales cycles and consumer confidence [7][8] - The company is proactively managing costs and targeting incentives to drive sales, while also preparing for potential supply chain disruptions due to tariffs [12][66] Other Important Information - The company increased its quarterly cash dividend to $0.29 per share and repurchased 753,000 shares for $56 million at an average price of $73.76, representing a 13% discount to book value [31] - Full-year home delivery guidance was reduced to a range of 10,400 to 11,000 homes due to ongoing economic uncertainty [32] Q&A Session Summary Question: Absorption rate differences between Century Complete and regional businesses - Management explained that Century Complete performed better due to less direct competition in certain markets, while Texas had the lowest absorption rate impacting overall performance [36][39] Question: Future pricing strategies for moving product - Management indicated that they are using both price reductions and interest rate buy downs to move unsold homes, anticipating a potential increase in incentives [41][42] Question: Guidance for closings in the back half of the year - Management stated that community count growth will support higher closings in the second half of the year, despite current headwinds [47][48] Question: SG&A savings from workforce reductions - Management confirmed that cost savings from layoffs and other initiatives are incorporated into the SG&A guidance for the full year [49][50] Question: Pricing and buy down strategies - Management noted that the average rate for buy downs has been consistent in the mid-fives, with a mix of price cuts and incentives being used [54][55] Question: Timing of incentive increases - Management clarified that recent incentives were implemented in response to market volatility and aimed at achieving desired absorption rates [60][61] Question: Concerns about supply chain disruptions - Management acknowledged the potential for supply chain disruptions but stated that no significant impacts have been observed to date [66]

SEI Investments Company (NASDAQ:SEIC) Q1 2025 Results Conference Call April 23, 2025 5:00 PM ET Company Participants Brad Burke - Head of Investor Relations Ryan Hicke - Chief Executive Officer Sean Denham - EVP, Chief Financial Officer Sanjay Sharma - EVP and Global Head of Private Banking & Wealth Management, SEI Phil McCabe - EVP, Head of SEI's Investment Manager Services Michael Lane - EVP, Head of Asset Management Paul Klauder - EVP, Head of SEI’s Advisor business Conference Call Participants Owen Lau ...

ASGN Incorporated (NYSE:ASGN) Q1 2025 Earnings Conference Call April 23, 2025 4:30 PM ET Company Participants Kimberly Esterkin - Vice President of Investor Relations Ted Hanson - Chief Executive Officer Shiv Iyer - President Marie Perry - Chief Financial Officer Rand Blazer - Executive Vice Chairman Conference Call Participants Tobey Sommer - Truist Securities Mark Marcon - Robert W. Baird Kevin McVeigh - UBS Trevor Romeo - William Blair Jeff Silber - BMO Capital Markets Surinder Thind - Jefferies Joseph V ...

Financial Data and Key Metrics Changes - IMAX Corporation achieved nearly $300 million in global box office for Q1 2025, marking its best first quarter ever [10] - Revenue for Q1 was $87 million, up 10% year-over-year, with adjusted EBITDA margin at 42.7%, an increase of over 200 basis points year-over-year [34][40] - Adjusted EBITDA for the quarter was $37 million, reflecting a 15% increase year-over-year [39] Business Line Data and Key Metrics Changes - Content Solutions revenues grew to $34 million, with a gross margin of $24 million, up 7% year-over-year [35] - Technology products and services revenues increased to $51 million, up 17% year-over-year, with a gross margin of $29 million, up 23% [36] - The company installed 21 systems worldwide in Q1, its second-best first quarter for installations, with a total backlog of 516 systems, up 17% year-over-year [29][38] Market Data and Key Metrics Changes - IMAX Corporation's global market share reached 3.5% in Q1, with a record 5.4% in China [35] - Local language films accounted for 68% of IMAX's box office in Q1 2025, a significant increase from 21% in 2023 [20] Company Strategy and Development Direction - The company is focusing on expanding its local language film strategy, with significant growth expected in markets like China, Japan, and India [15][18] - IMAX Corporation is leveraging its relationships with studios and filmmakers to enhance its content offerings and maintain a diverse programming slate [14][46] - The company is optimistic about its future slate, with a strong pipeline of films scheduled through the end of the decade [32][46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the recent reduction in Hollywood imports in China will not materially impact IMAX's business, as it primarily affects smaller budget films [12][55] - The company anticipates continued growth in box office performance, driven by a strong film slate and increasing consumer interest [45][46] - Management highlighted the resilience of the IMAX brand and its ability to thrive in various economic cycles [32] Other Important Information - The company reported cash flow from operations of $7 million in Q1, an improvement of $18 million year-over-year [42] - IMAX Corporation's capital position remains strong, with $97 million in cash and over $400 million in available liquidity [44] Q&A Session Summary Question: Impact of Hollywood film imports reduction in China - Management indicated that there is increased interest in films and no reduction in activity in the Chinese market, with a positive narrative surrounding IMAX [51][55] Question: Factors affecting the percentage of films shot with IMAX cameras - Management stated that the primary limiting factor is the availability of slots for films rather than the number of cameras [58] Question: Strength of IMAX's performance in China - Management noted that the strong performance was uniform across all markets, driven by effective marketing strategies and a special film release [64][66] Question: Concerns about the health of the consumer - Management expressed confidence that IMAX remains an affordable luxury, with box office performance resilient even during economic downturns [104] Question: Brand perception of IMAX in China - Management clarified that IMAX is viewed as a local prestige brand in China, with strong consumer appreciation [135]

Vertiv (VRT) Q1 2025 Earnings Call April 23, 2025 07:23 PM ET Company Participants Lynne Maxeiner - Vice President of Global Treasury & Investor RelationsDavid Cote - Executive ChairmanGiordano Albertazzi - Director & CEODavid Fallon - Chief Financial OfficerScott Davis - CEO & ChairmanAmit Daryanani - Senior Managing Director - Equity ResearchSteve Tusa - Managing DirectorJeffrey Sprague - Founder and Managing PartnerAndrew Obin - MD - Equity ResearchAndrew Kaplowitz - Managing DirectorNigel Coe - Managing ...

Financial Data and Key Metrics Changes - For Q1 2025, the company reported net income and adjusted net income of $26 million, with reported earnings per diluted share at $1.52 and $1.53 on an adjusted basis [7][29] - The adjusted net interest margin (NIM) on a tax-equivalent basis increased by one basis point compared to the previous quarter [7][31] - Non-interest income for the first quarter was $17 million, including $7 million from capital markets revenue [10][34] - The effective tax rate for the quarter was 1%, down from 9% in the prior quarter [53] Business Line Data and Key Metrics Changes - The wealth management business generated $5 million in revenue for Q1, reflecting a 14% annualized increase from the prior quarter [35][36] - Non-interest expenses decreased by $7 million or 13% to $47 million, well below the guidance range of $52 to $55 million [13][37] - Total loans held for investment grew by $39 million or 2% annualized, with loan growth funded by a robust expansion in core deposits of $332 million [40][43] Market Data and Key Metrics Changes - Total core deposit growth was robust at 20% annualized, enhancing liquidity and reducing reliance on wholesale funding [10][43] - The company experienced strong deposit betas, actively managing deposit costs as the Federal Reserve reduced interest rates [32][33] Company Strategy and Development Direction - The company is focused on the growth potential of its wealth management business, expecting continued long-term growth fueled by strategic investments [12][36] - The long-term securitization strategy supports the ongoing success of the LIHTC business and drives substantial capital market revenue [42][110] - The company aims to maintain a CET1 ratio above 10% while optimizing the mix and quality of its capital as it grows [52][50] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term resilience of markets and the financial health of clients despite macroeconomic uncertainties [16][23] - The company suspended its full-year loan growth guidance due to heightened uncertainty, providing a revised guidance of 4% to 6% for Q2 2025 [9][61] - Management noted that the LIHTC lending business is beginning to normalize as clients adjust to the current environment [11][82] Other Important Information - The company’s allowance for credit losses as a percent of total loans held for investment stood at 1.32% at the end of Q1 [15][48] - The tangible common equity to tangible assets ratio increased by 15 basis points to 9.70% at quarter-end, driven by strong earnings [50] Q&A Session Summary Question: Loan growth outlook and guidance reconciliation - Management acknowledged modest loan growth in Q1 due to elevated payoffs but expressed confidence in achieving 4% to 6% growth in Q2 [61][62] Question: Provision for credit losses expectations - Management indicated that a lower provision is likely if loan growth remains muted, aligning with the lower guidance [63][64] Question: Fixed-rate loans repricing cadence - Management confirmed success in rolling up rates on new fundings, with a weighted average rate of 7.21% for the quarter [66][67] Question: Expectations for non-capital markets revenue - Management expects non-interest income to grow at 6% or better, with strong performance in wealth management [76][77] Question: LIHTC business and project timing - Management noted that uncertainty in Washington had previously slowed LIHTC projects, but activity is starting to pick up again [100][101] Question: Securitization plans and timing - Management indicated that the timing of the next securitization will depend on the pace of LIHTC growth, with a potential large securitization planned [110][112] Question: Credit quality and tariff exposure - Management conducted a credit analysis and identified minimal high-risk exposure related to tariffs, with most clients having shifted imports away from China [126][130]

ResMed Inc. (NYSE:RMD) Q3 2025 Earnings Conference Call April 23, 2025 4:30 PM ET Company Participants Mick Farrell - Chairman & Chief Executive Officer Salli Schwartz - Chief Investor Relations Officer Brett Sandercock - Chief Financial Officer Conference Call Participants Lyanne Harrison - Bank of America Margaret Kaczor - William Blair Davin Thillainathan - Goldman Sachs Anthony Petrone - Mizuho Group David Low - JPMorgan Saul Hadassin - Barrenjoey Dan Hurren - MST Matt Taylor - Jefferies Steve Wheen - J ...

Watsco (WSO) Q1 2025 Earnings Call April 23, 2025 06:32 PM ET Company Participants Albert Nahmad - Chairman & CEOPaul Johnston - Executive Vice PresidentBarry Logan - Executive VP of Planning & Strategy and SecretaryJeffrey Sprague - Founder and Managing PartnerTommy Moll - Managing DirectorAaron Nahmad - PresidentRyan Merkel - Co-Group Head–IndustrialsBrett Linzey - Executive DirectorJeffrey Hammond - Managing DirectorChris Snyder - Executive DirectorRick Gomez - Vice President of Corporate DevelopmentStev ...

Century Communities (CCS) Q1 2025 Earnings Call April 23, 2025 05:00 PM ET Company Participants Tyler Langton - Senior Vice President, Investor RelationsDale Francescon - Executive ChairmanRobert Francescon - CEO & PresidentJ. Scott Dixon - Chief Financial OfficerCarl Reichardt - Managing Director - Equity ResearchJay McCanless - SVP - Equity ResearchAlan Ratner - Managing DirectorAndrew Azzi - Vice PresidentAlex Barron - President & Founder Conference Call Participants Kenneth Zener - Senior Analyst Operat ...