Financial Data and Key Metrics Changes - Organic revenue growth for Q1 2025 was 3.4%, aligning with expectations, with adjusted EBITDA margin at 13.8% [7][24] - Non-GAAP adjusted earnings per share increased by 1.8% to $1.70 compared to Q1 2024 [7][41] - Reported revenue grew by 2%, while total operating expenses included $33.8 million in IPG acquisition-related costs [23][24] Business Line Data and Key Metrics Changes - Media and advertising grew by 7%, driven by strong performance across geographies, while precision marketing increased by 6% [28] - Public relations declined by 5% due to client delays, and healthcare revenues were down 3% as expected [29][31] - Branding and retail commerce saw a significant decline of 10% due to uncertain market conditions [32] Market Data and Key Metrics Changes - The U.S. market experienced organic growth of 5%, while Latin America grew by 15% [32] - Europe showed mixed growth, and Asia Pacific posted growth but faced declines in the U.K. and the Middle East [32] Company Strategy and Development Direction - The company is focused on closing the proposed acquisition of Interpublic, with progress on regulatory approvals and integration planning [17][19] - Emphasis on leveraging AI technology through the OmniAI platform to enhance operational efficiency and client service [12][13] - The company aims to achieve $750 million in run-rate cost synergies post-acquisition [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business strategy despite economic volatility, adjusting full-year 2025 organic growth guidance to 2.5% - 4.5% [11] - The company is actively managing costs in line with revenue trends and remains optimistic about new business opportunities [61][65] Other Important Information - The company maintains a strong cash flow and balance sheet, with plans for share repurchases and dividends [8][42] - The book value of outstanding debt was $6.1 billion, with no maturities in 2025 [46] Q&A Session Summary Question: Why was the bottom end of the 2025 guidance lowered to 2.5%? - Management indicated it was a conservative adjustment based on market uncertainty, not due to specific client actions [51][55] Question: Can you elaborate on delays in government spending for public relations? - Delays were noted in the U.S. related to FDA projects, with no significant trends expected moving forward [60][63] Question: What is the tone of business in the auto and consumer packaged goods sectors? - Management noted that while there is uncertainty, no disastrous reports have emerged, and long-term contracts provide stability [131][132]

Financial Data and Key Metrics Changes - The company reported a net income of $120 million or $1.38 per share, down from $122 million or $1.40 per share in the previous quarter, but up 10% year-over-year [17] - The return on assets (ROA) was 1.41%, and the net interest margin (NIM) expanded by two basis points to 3.43% [8][18] - Total risk-based capital ended the quarter at 16.39%, with a common equity tier one ratio of 14.51% and a tangible common equity ratio of 10.01% [8][13] Business Line Data and Key Metrics Changes - Fee income is expected to increase by 9% to 10% year-over-year, driven by strong performance across most categories [10][25] - Loans decreased by $201 million due to higher payoffs in large healthcare and commercial non-real estate loans, with expectations for low single-digit loan growth in 2025 [10][11] - Deposits were down $298 million, primarily due to seasonal public fund outflows, but the DDA balance increased [12][21] Market Data and Key Metrics Changes - The company experienced a decrease in interest-bearing transaction accounts due to reduced promotional rates, while the DDA mix remained stable at 36% [12][21] - The overall cost of funds decreased by 14 basis points to 1.59%, with a reduction in deposit costs contributing to this decline [19][20] Company Strategy and Development Direction - The company plans to pivot to growth through both organic and inorganic means, including the acquisition of Sable Trust Company, expected to close on May 2nd [14][15] - The focus remains on granular, full-relationship loans to achieve favorable loan yields and relationship revenue [11] - The company is optimistic about growth prospects in the second half of the year despite current market volatility [15] Management's Comments on Operating Environment and Future Outlook - Management noted that client sentiment reflects some apprehension, but there is no immediate fear of a significant recession [46][47] - The company is closely monitoring macroeconomic trends and believes it is well-positioned to navigate challenges due to strong capital and liquidity [16][15] - Future guidance reflects expectations for modest NIM expansion and NII growth of 3% to 4% in 2025 [24] Other Important Information - The company repurchased 350,000 shares of common stock and increased its common stock dividend to 45 cents per share, a 50% increase from the previous year [13] - The criticized commercial loans decreased, while non-accrual loans increased at a slower pace than in the prior quarter [26] Q&A Session Summary Question: Why not increase the buyback given the capital accretion and slower loan growth outlook? - Management indicated that they are indeed increasing buybacks and are focused on maintaining or slightly increasing the current level of repurchases [34][36][38] Question: What are the current efforts to assess credit impacts from tariffs? - Management is evaluating various sectors that could be impacted and preparing plans for potential risks [40][41][44] Question: How much of the increase in the PPNR guide is related to Sable versus core performance? - The increase in the PPNR guide is attributed to both the expected contributions from Sable and continued growth in fee income lines [48][50] Question: Update on hiring process and its impact on growth outlook? - The company has added four bankers in Q1 and plans to hire 20 to 30 throughout the year, with a focus on high-growth markets [57][59][61] Question: Thoughts on M&A versus organic growth? - Currently, the focus is on returning capital to shareholders and organic growth, with M&A being considered for the future [69][70] Question: Expected CD maturities and rate benefits? - The company expects about $5.5 billion of CD maturities over the next three quarters, with a projected repricing benefit [124][125] Question: Loan growth expectations and pipeline comfort? - The company anticipates loan growth to be driven by new hires, with a strong pipeline expected for the second half of the year [132][136]

Citigroup Inc. (NYSE:C) Q1 2025 Earnings Conference Call April 15, 2025 11:00 AM ET Company Participants Jenn Landis - Head, Investor Relations Jane Fraser - Chief Executive Officer Mark Mason - Chief Financial Officer Conference Call Participants Glenn Schorr - Evercore Jim Mitchell - Seaport Global Mike Mayo - Wells Fargo Ebrahim Poonawala - Bank of America John McDonald - Truist Securities Ken Usdin - Autonomous Research Betsy Graseck - Morgan Stanley Erika Najarian - UBS Vivek Juneja - JPMorgan Gerard C ...

TH International Limited (NASDAQ:THCH) Q4 2024 Results Conference Call April 15, 2025 8:00 AM ET Company Participants Gemma Bakx - Head, Investor Relations Yongchen Lu - Chief Executive Officer & Director Albert Li - Chief Financial Officer Conference Call Participants Steve Silver - Argus Research Corporation Operator Ladies and gentlemen, welcome to Tims China's Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] Today's conference is being recorded. At this time, I would like to turn th ...

Financial Data and Key Metrics Changes - The company reported revenues of approximately $82.7 million for the year ended December 31, 2024, representing an 8.8% year-over-year increase from approximately $76 million for the year ended December 31, 2023 [9][30] - Gross profit increased by 3.9% to approximately $25.8 million, achieving a gross margin of 31.2%, down from 32.7% in the previous year [10][34] - The net loss for the year was approximately $4.1 million, compared to a net loss of approximately $0.4 million for the year ended December 31, 2023 [37] Business Line Data and Key Metrics Changes - Sales from the Strand segment decreased to approximately $72.7 million for the year ended December 31, 2024, from approximately $76 million in the previous year, primarily due to lower spending from clients [30] - Sales from the Strand Loyalty Solutions (SLS) segment increased to approximately $9.9 million, up from zero in the previous year, driven by the acquisition of Gander Group assets [30][31] - Gross profit for the SLS segment was approximately $2.1 million, reflecting the contribution from the Gander acquisition [33] Market Data and Key Metrics Changes - The company secured multiple six-figure multi-year contracts across various sectors, including residential real estate, diagnostics, public transportation, and premium consumer products, indicating a diversified client base [12][16] - The company is focusing on expanding into high-potential verticals such as hospitality, healthcare, infrastructure, and gaming [20] Company Strategy and Development Direction - The company aims to accelerate growth across both STRON and SLS segments by executing a robust enterprise sales pipeline and broadening its customer base [20][22] - The strategic roadmap includes leveraging technology, particularly the NetSuite ERP system, to enhance operational efficiency and improve fulfillment performance [22][17] - The company plans to optimize operating expenses with a focus on sustainable margin-accretive growth [22] Management's Comments on Operating Environment and Future Outlook - The management acknowledged the complex macroeconomic environment, including inflationary pressures and global trade disruptions, but expressed confidence in the company's ability to navigate these challenges [23][24] - The company maintains a strong cash position, zero long-term debt, and a scalable operating model, which provides resilience [24][40] - Management views 2025 as a pivotal year for the company, transitioning from foundational investments to strategic acceleration [28][41] Other Important Information - The company completed a comprehensive re-audit of its historical financials due to the previous audit firm's barring by the SEC, which has strengthened its financial reporting infrastructure [6][8] - The company has approximately $18.2 million in cash and cash equivalents as of December 31, 2024, with plans to resume its $10 million share repurchase program in 2025 [37][27] Q&A Session Summary Question: Can you provide some light on your goals for profitability this year coming forward? - Management highlighted that audit fees will decrease significantly as they move away from the re-audit process, allowing more focus on operational business and profitability growth [46][48] - Goals include continuing revenue growth while driving operational efficiencies and finalizing the implementation of NetSuite to create efficiencies and reduce manual work [51][52]

Forward Looking Statements All statements, other than statements of historical fact, included in this presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "aim," "anticipate," "intend," "may," "should," "plan," "looking for," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking ...

Financial Data and Key Metrics Changes - Pinnacle Financial Partners reported a 14.2% revenue growth in Q1 2025 compared to Q1 2024, continuing a double-digit growth trajectory with a 10.1% CAGR over the last four years [15][16] - Adjusted EPS grew by 24.2% in Q1 2025 over Q1 2024, while tangible book value per share increased by 10.6% in the same period [16][16] - The company maintained a net interest margin (NIM) of 3.21%, with expectations for it to remain flat with some upward bias in Q2 2025 [42][42] Business Line Data and Key Metrics Changes - End-of-period loans increased by 7.3% on a quarter annualized basis, driven by new markets and recruited bankers [35][36] - Deposit growth was a highlight, with an increase of $1.6 billion in Q1 2025, following a $1.9 billion increase in the previous quarter [39][39] - The company anticipates total deposit growth of 7% to 10% for 2025, despite expecting a slowdown in Q2 due to seasonal factors [40][40] Market Data and Key Metrics Changes - The company has reduced its concentration in commercial real estate, which has impacted loan growth but has allowed for a focus on C&I loan growth [30][25] - The average years of experience for newly hired revenue producers is 18 years, contributing to high-quality loan growth [26][28] Company Strategy and Development Direction - Pinnacle's strategy focuses on continuously attracting top bankers and enabling them to consolidate their client relationships, which is seen as a sustainable growth model [18][23] - The company aims to maintain its unique work environment and culture, which has been recognized as one of the best workplaces in America [31][32] - The management emphasizes a market share takeaway strategy that is less reliant on overall economic growth [22][25] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the current economic volatility but remains confident in the company's ability to grow and produce shareholder value [13][34] - The outlook for 2025 includes expectations for client balance sheet growth consistent with prior guidance, despite uncertainties in the broader economy [34][34] - The company is monitoring potential impacts from tariffs and trade wars on its portfolio, particularly in sectors like trucking and multifamily [111][114] Other Important Information - The company reported a decrease in net charge-offs to 16 basis points in Q1 2025, with expectations for charge-offs to remain around 16 to 20 basis points for the year [45][45] - BHG had a strong quarter, providing fee revenues of over $20 million, leading to an upward revision of earnings estimates for 2025 from 10% growth to 20% growth over 2024 [50][51] Q&A Session Summary Question: Did you change the baseline assumption under CECL for calculating the reserves? - The company kept the baseline unchanged but used an adverse scenario to influence qualitative assumptions [62] Question: Is the growth or higher target for BHG dependent on continued securitizations? - BHG has plenty of room through the bank channel and plans for another ABS issuance towards the end of the year [64] Question: What are the expectations for deposit growth in Q2? - April is traditionally a tough month for deposit growth, but the company believes it has advantages in deposit pricing [72] Question: How does the company view the current loan pricing environment? - The company is not overly concerned about volume but is more focused on the pricing aspect of loans [76] Question: What areas are credit officers focusing on regarding tariffs and trade wars? - Credit officers are focused on trucking, multifamily, and leveraged lending to assess potential impacts [111] Question: What is the outlook for capital ratios given the growth outlook? - The company has not set a specific floor for CET1 but aims to maintain stability in risk-based capital ratios [134]

Financial Data and Key Metrics Changes - PNC reported a net income of $1.5 billion, or $3.51 per share, reflecting a year-over-year increase of 13% [25][36] - Total revenue for the quarter was $5.5 billion, a decrease of $115 million, or 2%, compared to the previous quarter, primarily due to seasonality [27][36] - Non-interest expense increased by $53 million, or 2%, driven by higher business activity and technology investments [25][36] - The net interest margin expanded to 2.78%, an increase of three basis points [27][36] Business Line Data and Key Metrics Changes - Average loan balances declined by $2 billion, or 1%, driven by lower commercial real estate and consumer loans, but total loans grew by $2 billion, or 1%, on a period-end basis [14][18] - C&I loans increased by $5 billion, or 3%, reflecting broad growth across loan categories, marking the largest increase since Q4 2022 [19][36] - Investment securities decreased by $2 billion to $142 billion, with a stable securities yield of 3.17% [20][36] Market Data and Key Metrics Changes - Average deposits decreased by $5 billion, or 1%, to $421 billion, with consumer deposits increasing by $4 billion, or 2%, while commercial deposits declined by $5 billion, or 2% [22][36] - The rate paid on interest-bearing deposits declined by 20 basis points to 2.23% [22][36] Company Strategy and Development Direction - The company aims to focus on organic growth opportunities while maintaining strong capital levels and providing significant shareholder returns through dividends and share repurchases [11][36] - PNC is committed to managing expenses effectively, with a goal to reduce costs by $350 million in 2025 through a continuous improvement program [31][36] - The appointment of Mark Weidman as president is expected to enhance the company's capabilities without changing its strategic direction [12][71] Management's Comments on Operating Environment and Future Outlook - Management acknowledged increased market volatility due to tariff uncertainties but expressed confidence in the company's ability to perform well in uncertain times [7][8] - The company expects average loans to be stable for the full year 2025, with spot loan growth projected at 2% to 3% [37][36] - Non-interest income may face pressure throughout the year due to the uncertainty surrounding tariffs [37][36] Other Important Information - The company returned approximately $800 million of capital to shareholders through dividends and share repurchases during the quarter [17][36] - The allowance for credit losses totaled $5.2 billion, or 1.64% of total loans, reflecting considerations for potential economic downturns [34][36] Q&A Session Summary Question: Can you provide more details on the drivers of loan growth in C&I? - Management noted broad-based growth across most loan categories, with increased utilization rates and new loan productions contributing to the growth [46][47] Question: How do you view the capital markets pipeline given the current uncertainty? - Management indicated that while capital markets were lighter than expected, the M&A advisory pipeline remains strong, with a 20% increase compared to last year [50][51] Question: What are your thoughts on expense management in a potential recession? - Management expressed confidence in maintaining positive expense leverage and indicated that some expenses would self-correct with lower activity [56][58] Question: How do you see the impact of tariffs on your credit outlook? - Management stated that while tariffs have slowed activity, they have not yet led to credit deterioration, and the quality of the loan book remains strong [88][89] Question: What is the company's strategy regarding share buybacks? - Management confirmed an intention to accelerate share buybacks, particularly given the current share price [105][145]

Slide footer goes here if required 1 1st Quarter 2025 Earnings Call April 15, 2025 Cautionary note on Forward-looking statements This presentation contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, and market position and business strategy. The viewer is cautioned not to rely on these forward-looking statements. These statements are based on current expectatio ...

First Quarter 2025 Earnings Conference Call April 15, 2025 Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information Our earnings conference call presentation is not intended as a full business or financial review and should be viewed in the context of all of the information made available by PNC in its SEC filings and on our corporate website. The presentation contains forward-looking statements regarding our outlook for financial performance, such as earnings, revenues, expenses, t ...