Financial Data and Key Metrics Changes - For the fiscal year to date, the company reported a net income of $837 million, or $5.26 per diluted share, reflecting a 6.7% increase over the prior year period [4][10] - Operating income increased to $1.1 billion, representing a 14.6% increase for the first six months of the fiscal year [10] - The fiscal year 2025 earnings per share guidance was updated to a range of $7.2 to $7.3, up from the previous range of $7.05 to $7.25 [4][17] Business Line Data and Key Metrics Changes - Rate increases in both operating segments totaled $185 million, contributing to operating income growth [11] - Revenues in the Pipeline and Storage segment increased by $11.4 million, driven by a 10% increase in volumes transported [11] - The company added nearly 59,000 new customers year to date, with approximately 46,000 of those in Texas [5] Market Data and Key Metrics Changes - Texas added jobs at a faster rate than the national average, with nearly 192,000 jobs added over the last twelve months, representing a 1.4% annual growth rate [5] - Industrial demand for natural gas remained strong, with the addition of nine new industrial customers during the second quarter [6] Company Strategy and Development Direction - The company is focused on modernizing its natural gas distribution, transmission, and storage systems while providing reliable service to 3.4 million customers across eight states [4] - Ongoing projects include the installation of new pipelines to support growth in the DFW Metroplex, enhancing safety, reliability, and supply diversification [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's performance, citing robust growth driven by favorable employment trends in Texas [4] - The company anticipates that the remaining contribution to fiscal year 2025 earnings per share will be recognized somewhat evenly by quarter in the back half of the fiscal year [17][18] Other Important Information - The company has extended its credit facilities totaling $3.1 billion and had $5.3 billion in available liquidity at quarter end [17] - The company is actively monitoring legislative developments across its operating states, which could impact its business [47][48] Q&A Session Summary Question: Is the higher guidance for 2025 a fair base to think about growth going forward? - Management indicated that they will assess market conditions before finalizing fiscal year 2026 plans, acknowledging current market volatility [26] Question: How are you thinking about the higher O&M this year and any efforts to derisk 2026? - Management noted that some of the higher O&M for 2025 could be a pull forward from 2026, emphasizing proactive maintenance and compliance efforts [27][28] Question: Can you update us on the equity financing for the rest of the year? - Management confirmed that their financing strategy remains balanced, utilizing a combination of equity and long-term debt, with equity needs anticipated for fiscal years 2025 and 2026 [37] Question: Can you discuss any quantifiable backlog of projects? - Management clarified that while there is no backlog per se, they are focused on high-priority projects and scheduled work based on reliability and safety [40][42] Question: What key bills are being monitored that could benefit your business? - Management is monitoring various legislative sessions and bills but refrained from making predictions until final decisions are made [47][48] Question: Should the new EPS guidance midpoint be used as the new EPS base for calculating the five-year CAGR? - Management indicated that using the new EPS guidance midpoint as a base for calculations is a safe assumption [49][50] Question: What are the underlying growth assumptions for APT expansion projects? - Management explained that growth assumptions are based on city models and anticipated demand, with ongoing reviews to adjust plans as necessary [69][71]

Blue Owl Capital Corporation (OBDC) Q1 2025 Earnings Call May 08, 2025 10:00 AM ET Company Participants Michael Mosticchio - Principal & Head of BDC Investor RelationsCraig Packer - Co-President & Chief Executive Officer of each of the Blue Owl BDCsLogan Nicholson - MD and President - Blue Owl BDCJonathan Lamm - MD and CFO & COO of Blue Owl BDCBrian Mckenna - Director - Equity ResearchMickey Schleien - MD - Equity ResearchMaxwell Fritscher - Equity Research Associate Conference Call Participants Casey Alexa ...

Financial Data and Key Metrics Changes - For Q1 2025, the company reported a GAAP net loss of $0.56 per share and a distributable loss of $0.25 per share [11] - Distributable earnings prior to realized losses were $0.08 per share, with earnings from REO investments contributing a distributable loss of $0.03 per share [11] - The held for investment loan portfolio decreased to $5.9 billion at March 31 from $6.1 billion at December 31, primarily due to loan resolutions [12] Business Line Data and Key Metrics Changes - The company fully realized five loans, receiving $7 million in proceeds from repayments and resolutions, which improved liquidity and reduced leverage [8] - Hospitality exposure was reduced by $326 million, reflecting a strategic move in light of economic headwinds [9] - A $214 million facility was closed to finance non-performing loans through the REO stage, indicating progress in the multifamily REO strategy [9][15] Market Data and Key Metrics Changes - The company noted widening spreads in the real estate capital markets and a pause in transactions by institutional participants due to heightened uncertainty from U.S. tariff and foreign policy volatility [6][7] - The economic and political climate is impacting capital markets and investor sentiment, which may affect the company's operational strategies [10][16] Company Strategy and Development Direction - The company is focused on enhancing liquidity, reducing leverage, and optimizing outcomes on watch list loans, with strategies including loan sales and discounted payoffs [11][12] - Management is considering various paths for loan resolutions, including divesting, extending, recapitalizing, or taking assets over as REO, depending on market conditions [10] - The company aims to achieve $2 billion in realizations over the year, with $600 million already completed [60] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing higher rate environment and its headwinds to broader real estate recovery, while expressing optimism about achieving strategic goals [7][10] - The company is navigating a period of uncertainty and volatility, with plans to remain pragmatic and proactive in its approach [16] - Management believes that fundamentals at the property level remain strong, despite the challenges in the broader market [59] Other Important Information - The company reported total liquidity of $136 million as of March 31, which includes cash and undrawn credit capacity [16] - The company has extended repo facilities with Wells Fargo and Goldman Sachs, indicating constructive relationships with repo counterparties [35] Q&A Session Summary Question: Update on two large multifamily loans - Management is still anticipating payoffs for the two loans maturing on July 31 and August 1, but may need to evaluate other options due to market volatility [18][19] Question: Current thoughts on term loan B - The term loan matures in August 2026, and management is evaluating options including amending and extending the loan or exploring private credit solutions [21] Question: Update on repo counterparties - The company has extended its repo facilities with Wells Fargo and Goldman Sachs, and is evaluating capacity size based on current financing needs [34][35] Question: Summary statistics for the overall portfolio - The portfolio is transitioning, with a significant reduction in construction assets and an increase in cash-flowing multifamily exposure [41][45] Question: Total REO expected this year and liquidity implications - The company is actively working on monetizing current REO assets and expects to take on additional multifamily assets, with no initial liquidity outflow anticipated from the new financing facility [50][51] Question: Consideration of splitting the company into separate entities - Management is considering various strategies for REO but currently has no plans to split the company into separate entities focused on development and mortgage REIT operations [55]

Riley Exploration Permian (REPX) Q1 2025 Earnings Call May 08, 2025 10:00 AM ET Company Participants Philip Riley - EVP of Strategy and CFOBobby Riley - Chairman, CEO & PresidentJohn Suter - Chief Operating OfficerJeffrey Robertson - Managing DirectorDerrick Whitfield - Managing DirectorNoel Parks - Managing Director - Energy Research Conference Call Participants John White - MD & Senior Research Analyst Operator Thank you for standing by. My name is Tina, and I will be your operator today. At this time, I ...

Financial Data and Key Metrics Changes - Adjusted net operating income for Q1 2025 was $168 million, up 14% year over year, while diluted adjusted operating EPS increased 20% to $5.20 [5] - Total stockholder returns during the quarter amounted to $153 million, comprising $118 million in share repurchases and $35 million in regular dividends [5] Business Line Data and Key Metrics Changes - Term Life segment operating revenues rose 4% year over year to $458 million, driven by a 5% growth in adjusted direct premiums [15] - ISP segment total sales were $3.6 billion, up 28% year over year, with net inflows of $839 million compared to $274 million in the prior year [10][11] - The mortgage business in the U.S. saw closed loans of $93.5 million, up 31%, while Canadian closed loans reached $43.3 million, up 78% [12][13] Market Data and Key Metrics Changes - The total number of life license representatives grew slightly, up 7% compared to March 2024, despite a 9% decline in recruiting year over year [7][8] - Client asset values at the end of the quarter were $110 billion, up 6% year over year, although down 2% during the first three months of 2025 due to negative market performance [11] Company Strategy and Development Direction - The company remains committed to growing its sales force, expecting around 3% growth during 2025, despite current economic pressures [8] - The focus on financial education for middle-income families is emphasized as a key driver of success, with a belief that there will always be a need for such services [13][14] Management's Comments on Operating Environment and Future Outlook - Management noted that economic uncertainty has impacted recruiting and term life insurance sales, leading to a cautious decision-making environment [6][9] - The company expects full-year policies issued to be broadly in line with 2024 levels, despite current challenges [9] Other Important Information - The corporate segment incurred a pretax adjusted operating loss of $8 million, an improvement from a loss of $12 million in the prior year [19] - The RBC ratio improved to 470%, reflecting a strong capital position to support growth and absorb uncertainties [22][48] Q&A Session Summary Question: Dynamic between Term Life sales and ISP sales - Management explained that the complementary business model allows different reactions to economic conditions, with term life sales facing more immediate pressure from cost of living while ISP sales remain strong due to demand for guarantees [25][26] Question: ISP sales outlook and ongoing headwinds - Management confirmed that the outlook for ISP sales growth is lower than the first quarter due to ongoing economic uncertainty and strong prior year comparisons [30][31] Question: Recruiting environment and its attractiveness - Management noted that economic uncertainty can make the Primerica opportunity more appealing as individuals seek additional income sources [39][40] Question: Differences in economic conditions between U.S. and Canada - Management indicated that both economies are similar, with recent Canadian election results providing clarity, but overall dynamics are expected to be consistent [55][56] Question: Stock repurchase program amidst market conditions - Management reassured that the stock repurchase program for 2025 remains intact, emphasizing a predictable return on capital for stockholders [58][59] Question: Higher net investment income in the corporate segment - Management attributed the increase in net investment income to portfolio growth and a shift to slightly higher-yielding investments while maintaining a conservative risk profile [66][67] Question: Lapse rates across the term book - Management reported that lapse rates have stabilized and are in line with expectations, despite some recent increases due to economic pressures [78][80] Question: ISP business sales sustainability - Management expressed confidence in the ISP business's ability to maintain sales levels, although market volatility could impact future performance [84][86]

Lee Enterprises (LEE) Q2 2025 Earnings Call May 08, 2025 10:00 AM ET Company Participants Jared Marks - Vice President, FinanceKevin Mowbray - President and Chief Executive OfficerTimothy Millage - Vice President, Chief Financial Officer and Treasurer Operator Welcome to the Lee Enterprises twenty twenty five Second Quarter Webcast and Conference Call. The call is being recorded and will be available for replay at investors.lee.net. At the close of the plant remarks, there will be an opportunity for questio ...

Allient (ALNT) Q1 2025 Earnings Call May 08, 2025 10:00 AM ET Company Participants Craig Mychajluk - Managing Director Richard Warzala - Chairman, CEO & PresidentJames Michaud - Senior VP & Chief Financial OfficerOrin Hirschman - Managing MemberRobert Van Voorhis - Founder & CEO Conference Call Participants Greg Palm - Senior Research AnalystGerry Sweeney - Managing Director, Senior Research Analyst Operator Please note that this event is being recorded. I would now like to turn the conference over to Craig ...

Genesis Energy (GEL) Q1 2025 Earnings Call May 08, 2025 10:00 AM ET Company Participants Dwayne Morley - Vice President-Investor RelationsGrant Sims - Chairman & CEOMichael Blum - Managing Director Conference Call Participants Wade Suki - Equity AnalystElvira Scotto - Managing Director, Equity Analyst - Energy Infrastructure Operator Greetings, and welcome to Genesis Energy L. P. First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A question a ...

YPF (YPF) Q1 2025 Earnings Call May 08, 2025 10:00 AM ET Company Participants Margarita Chun - Investor Relations OfficerHoracio Daniel Marín - CEO & ChairmanFederico Barroetaveña - Chief Financial OfficerDaniel Guardiola - Executive Director - Equity ResearchAlejandro Demichelis - Managing Director - Equity ResearchLeonardo Marcondes - VP - Equity ResearchAndrés Cardona - DirectorGuilherme Costa Martins - Equity Research AssociateTasso Vasconcellos - Equity ResearchAnne Milne - Managing Director - Emerging ...

SLR Investment (SLRC) Q1 2025 Earnings Call May 08, 2025 10:00 AM ET Company Participants Michael Gross - Chairman, President & Co-CEOShiraz Kajee - CFO & TreasurerBruce Spohler - Co-CEO, COO & DirectorErik Zwick - Managing Director, Equity ResearchMelissa Wedel - Vice President, U.S. Equities Research Operator Good day, everyone, and welcome to today's Q1 twenty twenty five SLR Investment Corp. Earnings Call. At this time, all participants are in a listen only mode. Later, you will have the opportunity to ...