Cooper-Standard (CPS) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Company Participants Roger Hendriksen - Director of Investor RelationsJeffrey Edwards - Chairman & CEOJonathan Banas - Executive VP & CFOKirk Ludtke - Managing DirectorBen Briggs - Director Conference Call Participants Michael Ward - Finance Analyst Operator Good morning, ladies and gentlemen, and welcome to the Cooper Standard First Quarter twenty twenty five Earnings Conference Call. During the presentation, all participants will be in l ...

AptarGroup (ATR) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Company Participants Mary Skafidas - Senior VP of IR & Corporate CommunicationsStephan Tanda - President, CEO & Executive DirectorVanessa Kanu - Executive VP & CFOGeorge Staphos - Managing Director Conference Call Participants Ghansham Panjabi - Senior Research AnalystMatthew Roberts - Equity Research AnalystDaniel Rizzo - AnalystMatt Larew - Research Analyst - HealthcareGabe Hajde - Analyst Operator Ladies and gentlemen, thank you for standing ...

AptarGroup (ATR) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Company Participants Mary Skafidas - Senior VP of IR & Corporate CommunicationsStephan Tanda - President, CEO & Executive DirectorVanessa Kanu - Executive VP & CFOGeorge Staphos - Managing Director Conference Call Participants Ghansham Panjabi - Senior Research AnalystMatthew Roberts - Equity Research AnalystDaniel Rizzo - AnalystMatt Larew - Research Analyst - HealthcareGabe Hajde - Analyst Operator Ladies and gentlemen, thank you for standing ...

UMH Properties (UMH) Q1 2025 Earnings Call May 02, 2025 10:00 AM ET Speaker0 Good morning, and welcome to Properties First Quarter twenty twenty five Earnings Conference Call. All participants will be in listen only mode. Please note this event is being recorded. It is now my pleasure to introduce your host, Mr. Craig Coster, Executive Vice President and General Counsel. Mr. Coster, you may begin. Speaker1 Thank you very much, operator. In addition to the 10 Q that we filed with the SEC yesterday, we have f ...

Financial Data and Key Metrics Changes - Total operating revenues decreased by 3% year over year, impacted by divestitures and declines in commercial and wholesale revenue, as well as decreases in residential video and voice connections [44] - Free cash flow for Q1 2025 was $79 million, an increase of $18 million compared to the same quarter last year [13][19] - Cash expenses increased by 6% or $11 million compared to the prior year, with $4 million of this increase attributed to a cumulative non-cash adjustment to stock-based compensation [44] Business Line Data and Key Metrics Changes - Postpaid handset results showed year-over-year improvements, while third-party tower revenues increased by 6% due to new co-locations and escalators on renewed leases [12] - Fiber service addresses grew by 6% year over year, with 14,000 new addresses delivered in the quarter [33][42] - Residential broadband net additions were 2,800, with 8,300 coming from fiber markets, lower than prior quarters due to timing of service address delivery [34][38] Market Data and Key Metrics Changes - The company continues to face aggressive promotional competition in the wireless industry, with competitors offering multi-year price locks and aggressive pricing [14] - Demand for higher broadband speeds remains strong, with 82% of residential broadband customers taking 100 megabits or higher and 24% taking one gig or higher at the end of the quarter [42] Company Strategy and Development Direction - The company is focused on completing the proposed transaction with T-Mobile, which is expected to close in mid-2025, and is preparing for a smooth transition [9][16] - A special dividend to shareholders is anticipated following the closing of the T-Mobile transaction, with proceeds expected to be used to repay outstanding bank debt [10][18] - The fiber program has expanded the company's footprint by over 30% in the last three years, with further growth opportunities identified [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged increased uncertainties in the broader economy and markets but remains optimistic about the long-term potential of the tower business and fiber expansion [7][12] - The company is focused on cost optimization and expects capital expenditures to decline in 2025 as planned 5G coverage builds are largely completed [13][46] - Management expressed confidence in achieving $100 million in annual cost savings by the end of 2028 through transformation efforts [35][72] Other Important Information - The company does not plan to redeem Series UU and Series BV preferred stock, viewing them as foundational capital for future operations [10][68] - The expected cash income tax obligations related to the T-Mobile transaction are estimated to be between $225 million and $325 million [28][30] Q&A Session Summary Question: Timeline for designated entity spectrum approval - The timing is uncertain and dependent on regulatory approval by the FCC, but there is optimism for a positive outcome [52][54] Question: Free cash flow run rate - The $79 million in free cash flow is not necessarily a run rate, but capital expenditures are expected to be down in 2025, which is positive for free cash flow [55] Question: Debt exchange offer impact - The debt exchange offer will be launched about 50 days before the anticipated close, and the amount of debt exchanged will impact transaction proceeds [56][110] Question: Fiber net adds and sales efforts - Fiber net additions were lower due to timing of address delivery, but management expects improvements as construction activity ramps up [60][62] Question: Divestiture strategy and criteria - The company is focused on divesting non-core assets, particularly isolated copper markets without an economic path to fiber, ensuring that net proceeds exceed the present value of cash flows from continued operations [95][96]

SM Energy Company (SM) Q1 2025 Earnings Call May 02, 2025 10:00 AM ET Company Participants Patrick Lytle - Senior VP - FinanceHerbert Vogel - President & CEOBeth McDonald - EVP & COOA. Wade Pursell - EVP & CFOOliver Huang - DirectorMichael Furrow - Vice PresidentMichael Scialla - Managing DirectorZach Parham - Executive DirectorGabe Daoud - Managing Director, Energy Equity Research Conference Call Participants Tim Rezvan - Managing Director & Equity Research AnalystNone - Analyst Operator Greetings, and wel ...

Financial Data and Key Metrics Changes - The company is pleased with its performance, reporting a 30% increase in oil production and a 20% increase in total production for 2025 [5] - The first quarter oil cut was 53%, with expectations for a modest increase in the second quarter, but no changes to the full-year guidance [7][10] Business Line Data and Key Metrics Changes - The company is focusing 90% of its program on the lower cube in the Uinta Basin, with strong confidence in the forecast from this zone [18][19] - The remaining 10% is focused on the upper cube, with positive results expected from the Douglas Creek area [19] Market Data and Key Metrics Changes - The company typically sells about 15% to 20% of its crude oil to Salt Lake City refineries, which has lower transportation costs [42] - The balance of oil is transported by rail, with efforts to maximize sales to local refineries [42] Company Strategy and Development Direction - The company aims to maintain a disciplined approach to capital allocation, prioritizing debt reduction until leverage returns to a one-time area [12][13] - There are no specific plans for 2026 yet, but multiple scenarios are being modeled based on commodity prices [50][51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the Uinta Basin assets, noting that they have exceeded original expectations [36] - The company is comfortable with its current plans at a price of $55 per barrel, generating significant free cash flow [52] Other Important Information - The company has filed its first quarter 10-Q and is committed to transparency regarding forward-looking statements and non-GAAP measures [3] - The company is not providing specific guidance on rig plans at this time, focusing instead on production timelines [27] Q&A Session Summary Question: Clarification on oil production shape for 2025 - Management indicated no material changes to the full-year plan, with a modest increase in oil cut expected from Q1 to Q2 [8][10] Question: Cash returns and share repurchases - Management confirmed prioritization of debt reduction over share repurchases until leverage metrics improve [12][13] Question: Uinta Basin productivity expectations - Management stated that 90% of the program is focused on the lower cube, with confidence in achieving underwritten assumptions [18] Question: LOE impacts and cost expectations - Management noted that some cost increases may be one-time in nature, while others could persist [21] Question: Rig count and operational plans - Management is not providing specific timelines for rig drops but will adjust based on program needs [27] Question: Capital allocation between regions - Management indicated that returns between regions have not changed significantly, and no immediate changes to capital allocation are expected [32] Question: Oil sales to local refineries - Management confirmed that 15% to 20% of crude is sold to local refineries, optimizing transportation costs [42] Question: CapEx plans for the year - Management expects a similar run rate in the second half of the year as in the first half, with no material changes to the CapEx guidance [44] Question: Operational plans for 2026 - Management stated that no specific plans for 2026 are in place, but multiple scenarios are being considered based on market conditions [50][51]

Reinsurance Group of America (RGA) Q1 2025 Earnings Call May 02, 2025 10:00 AM ET Company Participants Jeff Hopson - SVP - Investor RelationsTony Cheng - President & CEOAxel André - EVP & CFOJonathan Porter - EVP & Global Chief Risk OfficerElyse Greenspan - Managing DirectorLeslie Barbi - Executive VP & Chief Investment OfficerRyan Krueger - Managing DirectorThomas Gallagher - Senior Managing DirectorWilma Burdis - Director Conference Call Participants Suneet Kamath - Senior Research AnalystJohn Barnidge - ...

Reinsurance Group of America (RGA) Q1 2025 Earnings Call May 02, 2025 10:00 AM ET Speaker0 Good day, and welcome to Reinsurance Group of America First Quarter twenty twenty five Earnings Conference Call. All participants will be in listen only mode. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then 1 on your telephone keypad. To withdraw your question, please press then 2. Please note that this event is being recorded. I would now like to t ...

Financial Data and Key Metrics Changes - In 2024, the company generated $11.7 billion in operating cash flow and $4.9 billion in free cash flow before working capital [6] - The company achieved a record year-end proved oil and gas reserves of 4.6 billion BOE, a 15% increase from 2023 [5] - The company paid approximately $800 million in combined dividends and approved a 22% dividend increase in early 2024, followed by an additional 9% increase early this year [6] Business Line Data and Key Metrics Changes - The company reported record US oil production of 571,000 barrels per day from its Permian, Rockies, and Gulf of America assets [5] - Combined production from ongoing operations reached 1.3 million BOE per day, with significant contributions from both US and international assets [5] Market Data and Key Metrics Changes - The company noted that ongoing negotiations and macroeconomic factors, including tariffs and geopolitical events, have impacted commodity prices and created volatility in financial markets [29][32] - The company is focused on managing its operations efficiently in any price environment, with a strategy to strengthen its balance sheet through deleveraging [30] Company Strategy and Development Direction - The company closed a strategic acquisition of Crown Rock, enhancing its access to high-quality unconventional domestic oil assets [4] - The company is advancing major projects, including the commissioning of its first commercial-scale direct air capture facility, Stratos, expected to start in 2025 [4][7] - The company aims to integrate sustainability throughout its operations and has set emission reduction targets [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strategic focus and operational performance, positioning it well to deliver long-term value despite near-term pressures from commodity prices [32] - The company is optimistic about the growth prospects for global oil demand beyond 2030, which is seen as positive for its operations [40] Other Important Information - The company achieved its best-ever safety performance record in 2024, reflecting a commitment to safety across all segments [6] - The board is committed to ongoing refreshment of its membership to align with the evolving needs of the company [19] Q&A Session Summary Question: Are there any plans for board refreshment? - The board has committed to ongoing refreshment, with almost half of the independent directors beginning their service within the past five years [19] Question: How does the executive compensation program align with pay for performance? - A substantial portion of named executive officer compensation is performance-based, with significant at-risk pay for executives [24] Question: What is the potential impact of tariffs and the macro environment on Oxy? - The company is focused on what it can control, with ongoing assessments of the impact of tariffs and geopolitical events on operations and financial performance [29] Question: How does Oxy approach diversity and inclusion? - Oxy maintains a culture of inclusion and belonging, which is essential for recruiting and retaining talented employees [33] Question: What are Oxy's sustainability efforts? - Oxy has implemented key emission reduction targets and has sustained zero routine flaring in its US operations [36] Question: What are the growth prospects for the different commodities produced? - Oxy is well-positioned with a diversified portfolio and expects growth in oil and gas operations, particularly in the Permian Basin [40]