Schlumberger (SLB) Q1 2025 Earnings Call April 25, 2025 04:39 PM ET Company Participants James McDonald - Senior Vice President of Investor Relations and Industry AffairsOlivier Le Peuch - CEOStephane Biguet - Executive VP & CFOJ. David Anderson - Managing DirectorScott Gruber - Director - Oilfield Services & Equipment ResearchNeil Mehta - Head of Americas Natural Resources Equity ResearchStephen Gengaro - Managing DirectorKeith Mackey - Director - Global Equity Research, Oil & Gas Services Conference Call ...

Aon (AON) Q1 2025 Earnings Call April 25, 2025 04:35 PM ET Company Participants Greg Case - President & CEOEdmund Reese - CFO & EVPAndrew Kligerman - Managing DirectorElyse Greenspan - Managing DirectorMeyer Shields - Managing Director Conference Call Participants David Motemaden - Managing Director & Sr. Equity Research Analyst - Insurance & Business ServicesPaul Newsome - MD & Senior Research AnalystJimmy Bhullar - Equity Research AnalystCave Montazeri - Analyst Operator Good morning, and thank you for ho ...

Charter Communications (CHTR) Q1 2025 Earnings Call April 25, 2025 04:15 PM ET Company Participants Stefan Anninger - Senior VP - IRChris Winfrey - President and CEOJessica Fischer - CFOJonathan Chaplin - Managing Partner Conference Call Participants Craig Moffett - Partner & Senior AnalystJohn Hodulik - Telecom and Cable AnalystBenjamin Swinburne - AnalystJim Schneider - Senior Equity AnalystBryan Kraft - Analyst Operator Hello and welcome to Charter Communications First Quarter twenty twenty five Investor ...

Financial Data and Key Metrics Changes - The company reported net earnings of $64 million or $0.49 per share, with an annualized adjusted return on average assets of 1.11% and an adjusted return on average tangible equity of 16.15% [6][15] - The tangible book value per share grew by $0.69 to $14.15, and the tangible common equity ratio expanded to 7.9% [7] - The average cost of total deposits decreased by 14 basis points to 2.11%, while the total cost of funds decreased by 9 basis points to 2.39% [8] - The reported net interest margin increased by 6 basis points to 3.34%, with core net interest margin growing by 9 basis points [8][16] Business Line Data and Key Metrics Changes - The commercial lending team closed approximately $600 million in new loans, with the commercial loan portfolio increasing by 3.8% [9] - Provident Protection Plus saw a 19% organic growth in new business compared to the same period last year, with income up 23% [12] - Beacon Trust assets under management and fee income decreased by approximately 4% due to market conditions [13] Market Data and Key Metrics Changes - The total loan pipeline increased to approximately $2.8 billion, with a weighted average interest rate of 6.31% [10] - Nonperforming loans increased to 0.54%, primarily due to two well-secured loans [11][20] - Net charge-offs decreased to $2 million from $5.5 million in the trailing quarter [11] Company Strategy and Development Direction - The company aims to maintain momentum throughout 2025, focusing on core businesses and creating value for stockholders and customers [13] - There is a focus on diversifying the commercial portfolio post-merger, with a target of approximately 5% growth in the commercial real estate (CRE) space [50] Management's Comments on Operating Environment and Future Outlook - Management noted that while there is uncertainty in the macroeconomic environment, the current loan pipeline is strong, and no significant negative impacts have been observed in the portfolio [34][40] - The effective tax rate for the quarter increased to 30.3%, with expectations of approximately 29.5% for the remainder of 2025 [23] Other Important Information - The Board of Directors approved a quarterly cash dividend of $0.24 per share payable on May 30 [7] - The company is currently projecting a net interest margin in the range of 3.35% to 3.45% for the remainder of 2025 [17] Q&A Session Summary Question: Update on integration and hiring in wealth management - Management confirmed that integration is complete and there have been new hires in Pennsylvania and Westchester markets, contributing to pipeline growth [27][29] Question: Customer conversations regarding macro outlook and tariffs - Management indicated that there is uncertainty but no significant pullback from clients; the pipeline remains strong [34][36] Question: Details on nonaccrual loans - Management is working with borrowers on two nonaccrual loans, with favorable loan-to-value ratios providing some comfort [45][47] Question: Target for CRE concentration - Management is not targeting a specific number but aims for a range around 420%, with a focus on growing other sectors [50][54] Question: Thoughts on M&A activity in the banking space - Management expressed that buying back stock is a priority over acquisitions, emphasizing the importance of culture in any future mergers [57][59] Question: Expense guidance for 2025 - Management expects expenses to be in the range of $112 million to $115 million, forecasting on the lower end of that range [62]

The Hartford Insurance Group (HIG) Q1 2025 Earnings Call April 25, 2025 03:58 PM ET Company Participants Kate Jorens - SVP, Treasurer and Head of IRChristopher Swift - Chairman & CEOBeth Costello - CFOC. Gregory Peters - Managing Director - InsuranceA. Morris Tooker - PresidentBrian Meredith - Managing DirectorAndrew Kligerman - Managing DirectorMike Fish - Head of Group BenefitsElyse Greenspan - Managing DirectorMelinda Thompson - Head of Personal LinesRobert Cox - Vice President - Equity Research Conferen ...

Kinsale Capital Group (KNSL) Q1 2025 Earnings Call April 25, 2025 03:56 PM ET Company Participants Michael Kehoe - Chairman & CEOBryan Petrucelli - Executive VP, CFO & TreasurerBrian Haney - President & COOAndrew Andersen - Equity Research Vice PresidentPablo Singzon - Executive DirectorJian (Bob) Huang - Executive Director Conference Call Participants None - AnalystBill Carcache - Equity Research AnalystMichael Phillips - Incoming Investment Banking AnalystMark Hughes - AnalystCasey Alexander - Senior Vice ...

Financial Data and Key Metrics Changes - Adjusted earnings per share was $0.63, with a return on assets of 1.33% and a return on tangible common equity of 17.8% [7] - Net interest margin was strong at 3.88%, a decline of six basis points from the previous quarter [17][24] - Non-interest expenses decreased by 3.3% due to lower incentive compensation and fraud losses [10][31] - Tangible book value per share increased to $14.80, representing a 5% increase from the linked quarter and 18% year-over-year [13][35] Business Line Data and Key Metrics Changes - Loan balances were stable, with first-quarter loan production being seasonally lower [8] - Fee income was $61 million, a decline from the linked quarter due to seasonal fluctuations and less foreign exchange income [9][19] - Average deposit balances decreased by $99 million, primarily due to a seasonal decline in public funds [18][28] Market Data and Key Metrics Changes - The company maintained 21% of total balances in non-interest-bearing accounts and focused on growing lower-cost deposit balances [18] - Non-performing assets declined by 9.5%, indicating improvements in asset quality metrics [11] Company Strategy and Development Direction - The company is focused on growing tangible book value, which has increased by 35% over the last three years [13] - The company received the Gallup Exceptional Workplace Award for Associate Engagement, reflecting its commitment to employee engagement [14] - The company is in discussions regarding potential M&A opportunities, although current uncertainty may prolong these discussions [52] Management's Comments on Operating Environment and Future Outlook - Management expects modest loan growth in the second quarter, with healthy pipelines in consumer, C&I, and ICRE lines of business [8][37] - The company anticipates net interest margin to expand to a range between 3.95% and 4.05% in the next quarter, assuming a 25 basis point rate cut [39] - Management remains optimistic about the year overall despite economic uncertainties [41] Other Important Information - The company’s capital ratios are strong, with all regulatory ratios well above minimums [12][35] - The company is closely monitoring the impact of tariffs on clients and their operations [12][86] Q&A Session Summary Question: Steps to reduce asset sensitivity on the balance sheet - Management indicated that the balance sheet is asset sensitive and discussed the impact of rate cuts on deposit costs and net interest margin [46][48] Question: Changes in view toward capital deployment amid tariff uncertainty - Management noted increased M&A discussions but acknowledged that current uncertainty may slow down these discussions [51][52] Question: Review process for C&I credits and specific trends - Management highlighted a significant charge-off related to a specific industry and noted healthy workouts of classified loans [60][61] Question: Outlook for loan growth in the back half of the year - Management adjusted loan growth expectations for the year to 4% to 5% due to elevated payoffs [73][78] Question: Credit charge-offs and normalized expectations - Management expects charge-offs to stabilize in the range of 25 to 30 basis points, with improving trends in asset quality [81][82] Question: Exposure to tariffs and portfolio monitoring - Management is actively engaging with clients to understand the impact of tariffs and is monitoring specific sectors for potential risks [86][88]

Financial Data and Key Metrics Changes - The company ended Q1 2025 with record assets under management (AUM) of $840 billion, driven by record money market assets of $637 billion [6][20] - Total revenue for Q1 decreased slightly from the prior quarter, with higher revenue from money market assets offset by lower revenue from equity assets [25] - Q1 operating expenses decreased by $22.5 million from the prior quarter, mainly due to lower FX-related expenses [26] Business Line Data and Key Metrics Changes - Equity assets increased by $1.5 billion from year-end, primarily due to net sales of $1.4 billion [6] - Fixed income assets increased by about $1.4 billion in Q1, mainly due to higher market valuations, partially offset by net redemptions [11] - Alternative private markets saw an increase of $562 million in Q1, driven by FX rates and net sales of about $61 million [12] Market Data and Key Metrics Changes - The company’s money market mutual fund market share was approximately 7.10% at the end of Q1, down slightly from 7.22% at the end of 2024 [23] - Managed assets were approximately $828 billion, including $629 billion in money markets, $78.5 billion in equities, and $98 billion in fixed income [24] Company Strategy and Development Direction - The company is focused on developing its private markets business for growth, including the acquisition of a majority interest in a U.K. renewable energy company [17] - The company plans to continue adding active ETFs, with a goal of launching a handful each year [91] Management's Comments on Operating Environment and Future Outlook - Management noted that the first quarter is typically the worst quarter of the year for the industry, but this year saw positive flows [37] - There are expectations for higher interest rates for a longer period, which is anticipated to continue driving positive flows into money market products [52] Other Important Information - The company declared a $0.34 per share dividend, an increase of nearly 10% from the prior quarter [29] - The company purchased over 3 million shares for about $120 million during Q1 [30] Q&A Session Summary Question: Comments on money market market-share - Management clarified that the company had $3 billion of increased money market fund AUM, indicating positive inflows despite competitive pressures [32][36] Question: Update on fixed-income outflows - Management attributed elevated fixed-income outflows primarily to the Total Return Bond Fund and High Yield, with performance improving [42][44] Question: Flows since tax date - Management reported an increase of about $5 billion in assets since the tax date, indicating positive flows from both retail and institutional sides [55] Question: Capacity issues with MDT - Management confirmed there are no capacity issues with MDT despite significant organic growth [96]

Centene (CNC) Q1 2025 Earnings Call April 25, 2025 03:39 PM ET Company Participants Jennifer Gilligan - Senior Vice President, Finance & Investor RelationsSarah London - CEOAndrew Asher - Executive VP & CFOA.J. Rice - Managing DirectorDave Windley - Managing DirectorAndrew Mok - DirectorLance Wilkes - Managing DirectorJohn Stansel - VP - Equity ResearchMichael Halloran - Associate Director of Research Conference Call Participants Joshua Raskin - Research AnalystJustin Lake - Analyst - Healthcare ServicesAnn ...

Rithm Capital (RITM) Q1 2025 Earnings Call April 25, 2025 03:38 PM ET Company Participants Emma Bolla - Associate General CounselMichael Nierenberg - Chairman, President & Chief Executive OfficerBaron Silverstein - President of NewRezBose George - Managing DirectorEric Hagen - Managing DirectorJason Weaver - Managing Director - Equity ResearchKenneth Lee - Vice PresidentGiuliano Bologna - Managing DirectorRandy Binner - Managing DirectorCrispin Love - Director Conference Call Participants Douglas Harter - E ...