Tegna (TGNA) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Company Participants Kirk von Seelen - VP & TreasurerMike Steib - President & CEOJulie Heskett - Senior VP & CFOPatrick Sholl - Vice PresidentAvi Steiner - Managing Director Conference Call Participants Steven Cahall - Managing Director, Senior Analyst - Media, Advertising & CableDaniel Kurnos - Equity Research AnalystCraig Huber - Equity Research Analyst Operator Good day, and thank you for standing by. Welcome to the Q1 twenty twenty five TEGNA, ...

Murphy USA (MUSA) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Company Participants Christian Pikul - Vice President of Investor Relations & FP&AAndrew Clyde - President, CEO & DirectorGalagher Jeff - Executive VP & CFOCorey Tarlowe - SVP - Equity ResearchBonnie Herzog - Managing Director Pooran Sharma - Managing DirectorMindy West - Executive VP & COOJacob Aiken-Phillips - Vice PresidentBobby Griffin - Managing Director Conference Call Participants Anthony Bonadio - AnalystBradley Thomas - Managing Direc ...

Financial Data and Key Metrics Changes - The company generated total revenue of $2.7 billion in the first quarter, with adjusted net earnings of $213 million or $0.78 per diluted share, compared to $206 million or $0.76 per share in the same quarter of the previous year [15][16] - Adjusted pretax title earnings were $211 million, reflecting an increase in the adjusted pretax title margin to 11.7%, up 100 basis points from 10.7% in the prior year quarter [5][17] - Net earnings for the first quarter were $83 million, including net recognized losses of $287 million, compared to net earnings of $248 million with $275 million of net recognized gains in the same quarter of the previous year [15][16] Business Line Data and Key Metrics Changes - The title segment generated $1.8 billion in total revenue, excluding net recognized losses of $25 million, compared to $1.6 billion in the first quarter of the previous year, with direct premiums increasing by 16% [16][17] - The F and G segment's assets under management (AUM) grew to $67.4 billion, up 16% year-over-year, driven by strong indexed annuity sales [12][19] - F and G's gross sales were $2.9 billion, down 17% compared to the previous year, primarily due to lower MYGA sales, while net sales retained were $2.2 billion [19][20] Market Data and Key Metrics Changes - Total orders opened averaged 5,600 per day in the first quarter, with a decline of 5% in April compared to March [10] - Daily refinance orders opened were 1,300 in the first quarter, up 33% year-over-year, while purchase orders opened were down 3% in April due to mortgage rate volatility [8][10] - Commercial revenue reached $293 million, up 23% year-over-year, marking the second-best commercial first quarter in history [9][19] Company Strategy and Development Direction - The company is focused on a dynamic capital allocation strategy, returning capital to shareholders through dividends and share repurchases while investing in technology and growth [6][11] - The management emphasized the importance of technology investments, including AI capabilities, to enhance operational efficiency and productivity [11] - The company aims to maintain an ownership stake in F and G above 80% to preserve options for potential future spin-offs [13][48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate various economic scenarios, highlighting a proven track record of managing business trends [10][56] - The outlook for the remainder of 2025 remains cautiously optimistic, with expectations for modestly better purchase activity and continued strength in commercial orders [56][58] - Management noted that while there are uncertainties in the market, the company is well-positioned to drive strong margins due to its scale and operational efficiencies [56][58] Other Important Information - The company repurchased 390,000 shares at an average price of $63.42 per share during the first quarter, viewing repurchases as opportunistic [24] - The consolidated debt outstanding was $4.4 billion, with a debt to capitalization ratio in line with long-term targets [23] - The company ended the first quarter with $687 million in cash and short-term liquid investments at the holding company [25] Q&A Session Summary Question: Inquiry about April purchase orders and interest rates - Management noted that purchase orders were down 3% year-over-year in April, with little variation week to week [30] Question: Commercial open order activity in April - Total commercial orders were up 4% year-over-year in April, with national orders up 15% and local orders down 3% [32] Question: Expectations for quarterly investment income - The expected investment income was adjusted to $85-$90 million due to anticipated Fed funds rate cuts [33] Question: Buyback cadence for the remainder of the year - Management indicated a regular cadence of buybacks is expected, with potentially stronger numbers than in the first quarter [39] Question: Headwinds affecting F and G's lower spreads - Management discussed that spread pressures are expected to abate, with strong sales in April indicating positive trends [42] Question: Decision to invest in F and G's capital raise - The investment was driven by growth opportunities and the desire to maintain an ownership stake above 80% [48] Question: M&A activity expectations - Management anticipates more M&A activity in the title sector compared to the previous year, with opportunities available [49] Question: Regulatory changes impact on the title business - Management reported no significant regulatory impacts currently affecting the title business, with minor changes in state rates [66][70] Question: Updates on the InHERE platform - The InHERE platform has been fully rolled out, enhancing operational efficiency and expected to improve margins as transaction volumes increase [74][75]

Saga Communications (SGA) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Company Participants Christopher Forgy - CEO, President & DirectorSamuel D. Bush - Executive VP, CFO & Treasurer Operator Good day, everyone, and welcome to the Saga Communications First Quarter Earnings Release. At this time, all participants have been placed on a listen only mode. It is now my pleasure to turn the floor over to your host, Chris Forge. Sir, the floor is yours. Christopher Forgy Thank you, Matt, and good morning to eve ...

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $644 million for Q1 2025, reflecting strong performance in the global nitrogen industry [5][16] - Net earnings attributable to common stockholders were approximately $312 million, or $1.85 per diluted share, marking a 60% increase compared to Q1 2024 [16] - Free cash flow was approximately $1.6 billion, with a conversion rate of 63% from adjusted EBITDA [16][18] Business Line Data and Key Metrics Changes - The production network achieved over 2.6 million tons of gross ammonia, reflecting a 100% utilization rate [7][8] - The company projects approximately 10 million tons of gross ammonia production for 2025 [8] Market Data and Key Metrics Changes - Strong global demand for nitrogen fertilizers is driven by low corn stocks and favorable farmer economics in North America [11][12] - The USDA reported corn planting expectations of 95 million acres in the U.S., with potential for higher final planted acres due to nitrogen demand [11] - Global nitrogen inventory is expected to remain low, supporting strong demand in key consuming regions like Brazil and India [12][13] Company Strategy and Development Direction - The company is focused on growth through the Blue Point joint venture with JERA and Mitsui, aimed at supplying low carbon ammonia [5][8] - The Donaldsonville complex carbon capture and sequestration project is nearing completion, expected to start generating tax credits in H2 2025 [8][18] - The company plans to return $5 billion to shareholders through share repurchases and dividends since 2022, with an additional $2 billion share repurchase program authorized [6][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning for future growth, citing favorable industry dynamics and strong cash generation [20] - The global nitrogen supply-demand balance is expected to tighten through the end of the decade, with increasing demand for low carbon ammonia [13][20] Other Important Information - The company will hold an Investor Day on June 24 in New York to discuss strategy and long-term outlook [19] - Capital expenditures for 2025 are expected to be approximately $650 million, with significant investments in the Blue Point project [18] Q&A Session Summary Question: Do you have any off-take agreements for blue ammonia from D. Ville? - The company has agreements in place for blue ammonia, structured for growth, with expectations for increasing demand as the product becomes available [22] Question: Is the Air Products project something the company might be interested in? - The company is not interested in the Air Products project due to high operating costs associated with hydrogen production [25] Question: Can you clarify the partnership stakes in BluePoint and potential changes in offtake? - The company expects JERA to maintain their 35% ownership, and any incremental ownership would be manageable in terms of marketing the tons [30][32] Question: How do you see the market for urea and UAN evolving? - The company is pleased with its order book and expects a positive market environment for Q2 and Q3, despite low inventories [36] Question: How is the company mitigating potential capital inflation for the Blue Point project? - The company is using modular construction to reduce on-site labor and inflationary pressures, with fixed-price contracts for modules [40][41] Question: What is the company's view on nitrogen cost curves and free cash flow conversion? - The U.S. is expected to remain a low-cost region for gas production, supporting strong free cash flow generation [44][46] Question: How will the company report Blue Point in its financials? - The company plans to consolidate Blue Point into its financials, reporting it within the ammonia segment [110]

Kimbell Royalty Partners (KRP) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Speaker0 Greetings, and welcome to the Kimball Royalty Partners First Quarter Earnings Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. And as a reminder, this conference is being recorded. It is now my pleasure to introduce to you Rick Black with Investor Relations. Thank you, Rick. You may begin. Speaker1 Thank you, operator, and good mo ...

Financial Data and Key Metrics Changes - The company reported a record revenue of $11.7 billion for 2024, with an adjusted pre-tax margin of just over 7% and adjusted earnings per share growth of 7.5% despite the acquisition of Hawaiian Airlines [11][10]. - The company raised $2 billion in capital markets for the acquisition, maintaining a net leverage of 2.4 times, with a target to reduce it to 1.5 times over the next 12 to 18 months [11]. Business Line Data and Key Metrics Changes - The integration of Hawaiian Airlines is ongoing, with a focus on achieving synergy targets and enhancing operational strengths [2][7]. - The company aims to unlock $1 billion in incremental pre-tax profit over the next three years through commercial initiatives and at least $500 million in synergies [8]. Market Data and Key Metrics Changes - The company is launching an international gateway from Seattle and enhancing its market position in Honolulu, which is a top 25 U.S. hub [12]. - The combined network and wide-body aircraft from the acquisition are expected to serve 90% of destinations from Hawaii, enhancing brand equity and loyalty [13]. Company Strategy and Development Direction - The company’s vision, termed "Alaska Accelerate," focuses on connecting guests globally with a remarkable travel experience rooted in safety, care, and performance [8]. - The strategy includes diversifying revenue streams through partnerships in the cargo business and investing in innovation and sustainability [14]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, emphasizing the strength of the existing business model and the resilience demonstrated in 2024 [10][11]. - The company is focused on achieving its 2025 goals, including fuel efficiency, while also setting long-term goals for 2030 to be published early next year [39]. Other Important Information - The company is currently executing share repurchases under a $1 billion authorization as a way to return value to shareholders, with dividends being evaluated for reinstatement when appropriate [36]. - The company’s board of directors has been re-elected with strong shareholder support, and various proposals related to governance and compensation have passed with high approval rates [41][42]. Q&A Session Summary Question: When will Alaska Air Group reinstate dividends? - The company is currently focused on share repurchases as a way to return value to shareholders and will evaluate reinstating dividends when it makes sense [36]. Question: How do tariffs impact the price of US-built aircraft? - Management indicated that there is currently no anticipated impact from tariffs on the delivery of new aircraft [37]. Question: Would Alaska Air Group reconsider its net zero target given the changing legal and regulatory environment? - The company maintains a long-term net zero target but is currently focused on achieving its 2025 goals related to fuel efficiency and plans to set goals for 2030 to be published early next year [39].

Global Net Lease (GNL) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Speaker0 Ladies and gentlemen, greetings, and welcome to Global Net Lease, Inc. First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jordan Schonfeld, Senior Vice President of Investor Relations. Please go ahe ...

Teekay Tankers (TNK) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Speaker0 Welcome to the Teekay Group First Quarter twenty twenty five Earnings Results Conference Call. During the call, all participants will be in a listen only mode. Afterwards, you will be invited to participate in a question and answer session. At that time, if you have a question, participants will be asked to press 1 to register for a question. For assist assistance during the call, please press 0 on your touch tone phone. As a remin ...

Tegna (TGNA) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Speaker0 Good day, and thank you for standing by. Welcome to the Q1 twenty twenty five TEGNA, Inc. 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. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please pre ...