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Yahoo
10-06-2025
- Business
- Yahoo
Stingray Reports Fourth Quarter and Full-Year Results for Fiscal 2025
Sustained Momentum with a Third Year of Diversified Growth and Solid Financial Strength Fourth Quarter Highlights Organic growth of 16.1% year-over-year in Broadcast and Recurring Commercial Music Revenues; Revenues increased 14.8% to $96.0 million in the fourth quarter of 2025 from $83.7 million in the fourth quarter of 2024; Net income totaled $7.7 million, or $0.11 per share, in the fourth quarter of 2025 compared to a Net loss of $46.3 million, or $0.67 per share, in the same period in 2024; Adjusted EBITDA(1) grew 19.0% to $35.0 million in the fourth quarter of 2025 from $29.4 million in the fourth quarter of 2024. Adjusted EBITDA(1) by segment was $28.1 million, or 43.6% of revenues for Broadcasting and Commercial Music, $8.6 million or 27.3% of revenues for Radio, and $(1.7) million for Corporate; Adjusted Net income(1) improved to $18.6 million, or $0.27 per share, in the fourth quarter of 2025 from $15.4 million, or $0.22 per share, in the same period in 2024; Cash flow from operating activities decreased 10.3% to $39.7 million, or $0.58 per share(1), in the fourth quarter of 2025 from $44.3 million, or $0.64 per share(1), in the fourth quarter of 2024; Adjusted free cash flow(1) rose 17.8% to $18.4 million, or $0.27 per share, in the fourth quarter of 2025 from $15.6 million, or $0.23 per share, in the same period in 2024; Net debt to Pro Forma Adjusted EBITDA(1) ratio decreased to 2.28x compared to 2.76x last year; and Repurchased and cancelled 275,000 shares for a total of $2.3 million in the fourth quarter of 2025 compared to 57,600 shares for a total of $0.4 million in the same period in 2024. Full Year Highlights Organic growth of 12.3% year-over-year in Broadcast and Recurring Commercial Music Revenues; Revenues increased 12.0% to $386.9 million in 2025 from $345.4 million in 2024; Net income totaled $36.4 million, or $0.53 per share, in 2025 compared to a Net loss of $13.7 million, or $0.20 per share, in the same period last year; Adjusted EBITDA(1) improved 13.0% to $142.2 million in 2025 from $125.9 million in 2024. Adjusted EBITDA(1) by segment was $107.6 million or 42.3% of revenues for Broadcasting and Commercial Music, $42.1 million or 31.8% of revenues for Radio, and $(7.5) million for Corporate; Adjusted Net income(1) increased to $72.7 million, or $1.05 per share, in 2025 compared to $60.3 million, or $0.87 per share, in the same period last year; Cash flow from operating activities decreased 11.4% to $105.0 million, or $1.53 per share(1), in 2025 from $118.5 million, or $1.72 per share(1), in 2024; Adjusted free cash flow(1) rose 3.5% to $83.6 million, or $1.21 per share, in 2025 from $80.8 million, or $1.17 per share, in the same period last year; and Repurchased and cancelled 1,186,800 shares for a total of $9.1 million in 2025 compared to 557,500 shares for a total of $2.9 million in 2024. MONTREAL, June 10, 2025 (GLOBE NEWSWIRE) -- Stingray Group Inc. (TSX: RAY.A; RAY.B) (the 'Corporation'; 'Stingray'), an industry leader in music and video content distribution, business services, and advertising solutions, announced today its financial results for the fourth quarter and fiscal year ended March 31, 2025. Financial Highlights(in thousands of Canadian dollars, except per share data) Three months endedMarch 31 Twelve months endedMarch 31 2025 2024 % 2025 2024 % Revenues 96,008 83,665 14.8 386,891 345,428 12.0 Adjusted EBITDA(1) 35,027 29,423 19.0 142,199 125,855 13.0 Net income (loss) 7,655 (46,318) — 36,440 (13,741) — Per share – diluted ($) 0.11 (0.67) — 0.53 (0.20) — Adjusted Net income(1) 18,568 15,382 20.7 72,654 60,312 20.5 Per share – diluted ($)(1) 0.27 0.22 22.7 1.05 0.87 20.7 Cash flow from operating activities 39,720 44,263 (10.3) 105,040 118,526 (11.4) Adjusted free cash flow(1) 18,411 15,624 17.8 83,611 80,794 3.5(1) This is a non-IFRS measure and is not a standardized financial measure. The Corporation's method of calculating such financial measures may differ from the methods used by other issuers and, accordingly, the definition of these non-IFRS financial measures may not be comparable to similar measures presented by other issuers. Refer to 'Non-IFRS Measures' on page 5 of this news release for more information about each non-IFRS measure and refer to pages 6-7 for the reconciliations to the most directly comparable IFRS financial measures. Reporting on Stingray's fiscal 2025 and fourth quarter results, President, Co-Founder and CEO Eric Boyko stated: 'Fiscal 2025 was a highly successful year that checked many boxes in our profitable growth strategy. First, advertising revenues for our Broadcast and Recurring Commercial Music segment, which comprises our FAST channel and retail media advertising units, increased by more than 45% for a second consecutive year as advertisers increasingly relied on connected TVs to maximize their advertising dollars. Accordingly, we invested in our FAST channel platform in 2025, including the recent launch of channels like Cozy Café, Movie Music, Stargaze and Cityscapes, to position Stingray as the No. 1 supplier of musical and ambient channels for connected TVs. To take advantage of growing listening hours on FAST channels worldwide, we also introduced Stingray's Premium Connected TV Ad Inventory Network to enable alternative vendors to sell unsold inventory.' 'Second, our collaboration with IAB Canada and Leger to produce a breakthrough report about the evolution of in-store audio advertising in Canada has consolidated our standing as the de facto leader in this growing sector. We are true trailblazers in this market, evangelizing retailers about the untapped potential of in-store media ads, adding sales representatives and partners to increase inventory selling, and optimizing our pricing structure to improve monetization.' 'Third, double-digit organic growth for a second straight year reflects the judicious investment decisions Stingray has made to sustain revenue growth and drive profitability.' 'Finally, we reduced our net debt level by more than $27 million in 2025, closing the fiscal year with a Net Debt to Pro Forma Adjusted EBITDA ratio of 2.28 times and well within our target range.' 'In this encouraging context, Broadcasting and Commercial Music revenues increased 17.8% to $254.5 million in 2025, driven by higher FAST channel revenues, greater equipment and installation sales related to digital signage, and a positive foreign exchange impact,' Mr. Boyko added. 'Radio revenues improved 2.3% year-over-year to $132.3 million in 2025 mainly due to higher digital revenues. We are particularly pleased that our strategy to leverage the Radio sales team in Canada to sell in-store audio and video ads is beginning to deliver meaningful results. This latest facet of our plan helped to generate Radio revenue growth of nearly 4% in the fourth quarter despite a tight market environment.' 'Looking ahead to fiscal 2026, our capital allocation priorities are well-defined. We intend to sustain our momentum by re-investing in high-growth growth areas of our business; lowering our net debt level to a leverage ratio approaching 2.0 times; seeking acquisitions on an opportunistic basis; and continuing to reward shareholders with our well-established NCIB and dividend programs,' Mr. Boyko concluded. Fourth Quarter ResultsRevenues in the fourth quarter of 2025 increased $12.3 million, or 14.8%, to $96.0 million from $83.7 million in the fourth quarter of 2024. The growth was mainly due to an increase in FAST channel revenues and a positive foreign exchange impact. Revenues in Canada rose $1.2 million, or 2.7%, to $46.8 million from $45.6 million in the fourth quarter of 2024. The growth was mainly due to an increase in Radio revenue mostly driven by higher local sales. Revenues in the United States grew $11.8 million, or 45.0%, to $38.0 million from $26.2 million in the fourth quarter of 2024. The increase can be attributed to higher FAST channel revenues and a positive foreign exchange impact. Revenues in Other countries decreased $0.7 million, or 5.5%, to $11.2 million from $11.9 million in Q4 2024. The year-over-year decline was mainly due to lower in-store commercial revenues. Broadcasting and Commercial Music revenues in the fourth quarter of 2025 increased $11.2 million, or 20.9%, to $64.6 million from $53.4 million in the fourth quarter of 2024. The growth was primarily driven by higher FAST channel revenues and a positive foreign exchange impact. For the fourth quarter of 2025, Radio revenues improved $1.1 million, or 3.9%, to $31.4 million from $30.3 million in the same period of 2024. This increase was largely due to higher local revenues. Consolidated Adjusted EBITDA in the fourth quarter of 2025 increased $5.6 million, or 19.0%, to $35.0 million from $29.4 million in the fourth quarter of 2024. Adjusted EBITDA margin in the fourth quarter of 2025 rose to 36.5% from 35.2% in the same period last year. The increase in Adjusted EBITDA and Adjusted EBITDA margin was mainly due to higher revenues, partially offset by greater operating expenses related mainly to higher salaries. For the fourth quarter of 2025, net income totaled $7.7 million, or $0.11 per share, compared to a net loss of $46.3 million, or ($0.67) per share, in the fourth quarter of 2024. The variance was mainly due to a one-time impairment charge of $56.1 million on goodwill related to the Radio segment in the comparable period in 2024 and higher operating results in Q4 2025. These factors were partially offset by a foreign exchange loss and an unrealized loss on derivative financial instruments in the most recent quarter. Cash flow generated from operating activities amounted to $39.7 million in the fourth quarter of 2025 compared to $44.3 million in the fourth quarter of 2024. The decline was primarily due to a foreign exchange loss, higher income taxes paid, as well as greater acquisition, legal, restructuring and other costs. These factors were partially offset by improved operating results. Adjusted free cash flow generated in the fourth quarter of 2025 totaled $18.4 million compared to $15.6 million in the same period last year. The increase was mainly related to improved operating results, partially offset by higher income taxes paid. As of March 31, 2025, the Corporation had cash and cash equivalents of $14.0 million and credit facilities of $341.4 million. The credit facility consists of a $500 million revolving credit facility, of which $156.3 million was available. Full-Year ResultsFiscal 2025 revenues increased $41.5 million, or 12.0%, to $386.9 million from $345.4 million in 2024. The growth was largely due to higher FAST channel revenues, greater equipment and installation sales related to digital signage, and a positive foreign exchange impact. Adjusted EBITDA in fiscal 2025 improved by $16.3 million, or 13.0%, to $142.2 million from $125.9 million in 2024. Adjusted EBITDA margin in 2025 reached 36.8% compared to 36.4% in 2024. The increase in Adjusted EBITDA and Adjusted EBITDA margin was mainly driven by higher revenues, partially offset by greater operating expenses related mostly to higher salaries. Net income in fiscal 2025 totaled $36.4 million, or $0.53 per share, compared to a net loss of $13.7 million, or ($0.20) per share, in 2024. The variance was primarily due to a one-time impairment charge of $56.1 million on goodwill related to the Radio segment in the comparable period in 2024 and to higher operating results in 2025. These factors were partially offset by an unrealized loss on derivative financial instruments, a one-time settlement gain related to a trademark dispute in the comparable period in 2024, and a higher foreign exchange loss. Adjusted net income in fiscal 2025 amounted to $72.7 million, or $1.05 per share, compared to $60.3 million, or $0.87 per share, in 2024. The increase can mainly be attributed to higher operating results and lower interest expense, partially offset by a greater foreign exchange loss. Declaration of DividendThe Corporation declared a dividend of $0.075 per subordinate voting share, variable subordinate voting share and multiple voting share on March 25, 2025. The dividend will be payable on or around June 13, 2025, to shareholders on record as of May 30, 2025. The Corporation's dividend policy is at the discretion of the Board of Directors and may vary depending upon, among other things, our available cash flow, results of operations, financial condition, business growth opportunities and other factors that the Board of Directors may deem relevant. The dividends paid are designated as "eligible" dividends for the purposes of the Income Tax Act (Canada) and any corresponding provisions of provincial and territorial tax legislation. Business Highlights and Subsequent Events On April 15, 2025, the Corporation announce a partnership with Zoox, an autonomous mobility company. This collaboration enhances the rider experience in Zoox robotaxis with a diverse selection of curated music channels. On March 11, 2025, the Corporation announced the launch the launch of three of its popular FAST channels, Qello Concerts, Stingray Classica, and Movie Music, on Germany's largest TV platform for HD television. On February 5, 2025, the Corporation announced the launch of four new FAST (Free Ad-Supported Streaming TV) video channels. Cozy Café, Stargaze, and Movie Music have been selected by various platforms, including LG Channels, Samsung TV Plus, as part of their new channel offerings. On January 20, 2025, the Corporation announced the launch of five video channels on the ScreenHits TV in-car entertainment platform, available in Renault Grand Koleos, Nio and Porsche (Cayenne, Taycan, Panamera and 911) vehicles with upcoming plans for a worldwide release. On January 9, 2025, the Corporation announced that Samsung TV Karaoke, powered by the Stingray Karaoke app, has received the CES Innovation Award 2025 in the Content & Entertainment category. Conference CallThe Corporation will hold a conference call tomorrow, June 11, 2025, at 10:00 AM (ET) to review its financial results. Interested parties can join the call by dialing 289-514-5100 (Toronto) or 1-800-717-1738 (toll free). A rebroadcast of the conference call will be available until midnight, July 11, 2025, by dialing 289-819-1325 or 888-660-6264 and entering passcode 11999. About StingrayStingray (TSX: RAY.A; RAY.B), a global music, media, and technology company, is an industry leader in TV broadcasting, streaming, radio, business services, and advertising. Stingray provides an array of global music, digital, and advertising services to enterprise brands worldwide, including audio and video channels, 97 radio stations, subscription video-on-demand content, FAST channels, karaoke products and music apps, and in-car and on-board infotainment content. Stingray Business, a division of Stingray, provides commercial solutions in music, in-store advertising solutions, digital signage, and AI-driven consumer insights and feedback. Stingray Advertising is North America's largest retail audio advertising network, delivering digital audio messaging to more than 30,000 major retail locations. Stingray has close to 1,000 employees worldwide and reaches 540 million consumers in 160 countries. For more information, visit Forward-Looking InformationThis news release contains forward-looking information within the meaning of applicable Canadian securities law. Such forward-looking information includes, but is not limited to, information with respect to Stingray's goals, beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", and "continue", or the negative of these terms and similar terminology, including references to assumptions. Please note, however, that not all forward-looking information contains these terms and phrases. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Stingray's control. These risks and uncertainties could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors identified in Stingray's Annual Information Form for the year ended March 31, 2025, which is available on SEDAR at Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that Stingray anticipates will be realized or, even if substantially realized, that they will have the expected consequences or effects on Stingray's business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and Stingray does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law. Non-IFRS MeasuresThe Corporation believes that Adjusted EBITDA and Adjusted EBITDA margin are important measures when analyzing its operating profitability without being influenced by financing decisions, non-cash items and income taxes strategies. Comparison with peers is also easier as companies rarely have the same capital and financing structure. The Corporation believes that Adjusted Net income and Adjusted Net income per share are important measures as it shows stable results from its operation which allows users of the financial statements to better assess the trend in the profitability of the business. The Corporation believes that Adjusted free cash flow and Adjusted free cash flow per share are important measures when assessing the amount of cash generated after accounting for capital expenditures and non-core charges. It demonstrates cash available to make business acquisitions, pay dividend and reduce debt. The Corporation believes that Net debt and Net debt to Pro Forma Adjusted EBITDA are important to analyse the company's debt repayment capacity on an annualized basis, taking into consideration the annualized adjusted EBITDA of acquisitions made during the last twelve months. Each of these non-IFRS financial measures is not an earnings or cash flow measure recognized by International Financial Reporting Standards (IFRS) and does not have a standardized meaning prescribed by IFRS. This method of calculating such financial measures may differ from the methods used by other issuers and, accordingly, our definition of these non-IFRS financial measures may not be comparable to similar measures presented by other issuers. Investors are cautioned that non-IFRS financial measures should not be construed as an alternative to net income determined in accordance with IFRS as indicators of our performance or to cash flows from operating activities as measures of liquidity and cash flows. Reconciliation of Net income to Adjusted EBITDA, Adjusted Net income, LTM Adjusted EBITDA and Pro Forma Adjusted EBITDA 3 months 12 months (in thousands of Canadian dollars) March 31,2025Q4 2025 March 31, 2024Q4 2024 March 31,2025Fiscal 2025 March 31, 2024Fiscal 2024 Net income (loss) 7,655 (46,318 ) 36,440 (13,741 ) Impairment on goodwill – 56,119 – 56,119 Net finance expense 9,516 3,736 42,416 28,883 Change in fair value of investments 2 (106 ) (54 ) 18 Income taxes 977 3,639 10,982 16,030 Depreciation and write-off of property and equipment 1,941 1,183 8,090 8,342 Depreciation of right-of-use assets 1,020 1,192 4,097 4,420 Amortization of intangible assets 5,115 4,124 18,583 17,371 Share-based compensation 111 93 409 435 Performance and deferred share unit expense 5,640 4,711 10,181 6,841 Share of results of investments in associates (210 ) (354 ) 3,381 1,166 Gain on disposal of an investment (845 ) – (845 ) – Other income (24 ) – (24 ) – Acquisition, legal, restructuring and other expenses 4,129 1,404 8,543 (29 ) Adjusted EBITDA 35,027 29,423 142,199 125,855 Adjusted EBITDA margin 36.5% 35.2% 36.8% 36.4% Net income (loss) 7,655 (46,318 ) 36,440 (13,741 ) Adjusted for: Impairment on goodwill – 56,119 – 56,119 Unrealized loss (gain) on derivative instruments 1,010 (2,252 ) 9,267 (1,431 ) Amortization of intangible assets 5,115 4,124 18,583 17,371 Change in fair value of investments 2 (106 ) (54 ) 18 Share-based compensation 111 93 409 435 Performance and deferred share unit expense 5,640 4,711 10,181 6,841 Share of results of investments in associates (210 ) (354 ) 3,381 1,166 Gain on disposal of an investment (845 ) – (845 ) – Other income (24 ) – (24 ) – Acquisition, legal, restructuring and other expenses 4,129 1,404 8,543 (29 ) Income taxes on above noted adjustments (4,015 ) (2,039 ) (13,227 ) (6,437 ) Adjusted Net income 18,568 15,382 72,654 60,312 Average number of shares outstanding (diluted) 68,807 68,811 68,871 69,104 Adjusted Net income per share (diluted) 0.27 0.22 1.05 0.87 (in thousands of Canadian dollars) March 31,2025Fiscal 2025 March 31,2024Fiscal 2024 LTM Adjusted EBITDA 142,199 125,855 Permanent cost-saving initiatives 1,046 2,758 Adjusted EBITDA for the months prior to the business acquisition of The Coda Collection which are not already reflected in the results 150 – Pro Forma Adjusted EBITDA 143,395 128,613 Reconciliation of Cash Flow from Operating Activities to Adjusted Free Cash Flow 3 months 12 months (in thousands of Canadian dollars) March 31,2025Q4 2025 March 31, 2024Q4 2024 March 31,2025Fiscal 2025 March 31, 2024Fiscal 2024 Cash flow from operating activities 39,720 44,263 105,040 118,526 Add / Less : Acquisition of property and equipment (2,057 ) (2,351 ) (7,194 ) (7,812 ) Acquisition of intangible assets other than internally developed intangible assets (1,183 ) (355 ) (2,680 ) (1,231 ) Addition to internally developed intangible assets (1,371 ) (1,148 ) (5,184 ) (5,001 ) Interest paid (5,287 ) (6,641 ) (23,781 ) (25,927 ) Repayment of lease liabilities (954 ) (929 ) (4,295 ) (4,351 ) Net change in non-cash operating working capital items (17,094 ) (17,661 ) 6,663 5,983 Unrealized loss (gain) on foreign exchange 2,508 (958 ) 6,499 636 Acquisition, legal, restructuring and other expenses 4,129 1,404 8,543 (29 ) Adjusted free cash flow 18,411 15,624 83,611 80,794 Calculation of Net Debt and Net Debt to Pro Forma Adjusted EBITDA Ratio (in thousands of Canadian dollars) March 31, 2025 March 31, 2024 Credit facilities 341,365 338,712 Subordinated debt – 25,579 Cash and cash equivalents (13,984 ) (9,606 ) Net debt 327,381 354,685 Net debt to Pro Forma Adjusted EBITDA 2.28 2.76 Note to readers: Consolidated financial statements and Management's Discussion & Analysis of Operating Results and Financial Position are available on the Corporation's website at and on SEDAR at Contact InformationMathieu PéloquinSenior Vice-President, Marketing and CommunicationsStingray(514) 664-1244, ext. 2362mpeloquin@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-06-2025
- Business
- Yahoo
Oil-Dri Corp of America (ODC) Q3 2025 Earnings Call Highlights: Record Net Income and Strategic ...
Net Income: $11,644,000 for the quarter, surpassing all but 8 of the company's 84 prior fiscal years. Capital Expenditure: Expected to be around $32 million for the year, with a similar amount planned for the next year. Dividend Increase: 16% increase in quarterly dividends, marking the 22nd consecutive year of increased dividends. Net Cash from Operating Activities: $55 million year-to-date as of April 30, a 49% increase compared to the first nine months of fiscal year 2024. Effective Tax Rate: Estimated at 18% for Q3 FY2025, compared to 23% in Q3 FY2024. Capital Investment: $24.5 million invested year-to-date in fixed assets and mobile equipment. Ultra Pet Acquisition: Funded with $24 million in cash, $10 million in short-term financing, and $10 million in long-term financing; short-term financing has been paid off. Warning! GuruFocus has detected 8 Warning Sign with ODC. Release Date: June 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Oil-Dri Corp of America (NYSE:ODC) reported a net income of $11.6 million, surpassing all but 8 of its previous 84 fiscal years. The company has significantly increased its capital investment, planning to spend $143 million from fiscal 2022 to 2026, compared to $78 million in the previous five years. A 16% increase in quarterly dividends was announced, marking the 22nd consecutive year of dividend growth. The Ultra Pet acquisition has performed well, meeting internal financial benchmarks and achieving stronger than expected cost synergies. Oil-Dri Corp of America (NYSE:ODC) has secured new business in the renewable diesel sector, contributing to a 13% increase in this area despite a market downturn. Animal health and nutrition revenues were flat year-over-year for the quarter, affected by tariff issues and logistics challenges. The Ultra Legacy business experienced softer top-line performance, partially offset by successful distribution drives. The company lost a significant private label clay cat litter account, impacting distribution and sales. Natural gas prices are expected to rise, posing a challenge for production costs, with limited alternatives available. The Ultra Pet crystal cat litter business faces tariff pressures, affecting margins and requiring careful management of pricing strategies. Q: Although animal health and nutrition revenues were up year-over-year, they were flat this past quarter. Was this due to seasonality or changes in customer order patterns? A: Wade Robey, Vice President of Agriculture and President of Amlan International, explained that the flat performance was due to volatility caused by the tariff situation and longer transit times. Despite this, the year-to-date performance is on track, and they expect to finish the year meeting their targets. Q: The US renewable diesel production was down, yet Oil-Dri's was up 13%. How did this happen? A: Bruce Patsey, Vice President of the Fluids Purification Division, noted that new plants in the renewable diesel sector came online, and Oil-Dri secured new business from these plants. Additionally, they gained new customers in the vegetable oil segment, contributing to their growth. Q: What are the prospects for growing private label clay cat litter distribution and sales after losing a significant account? A: Laura Scheland, Vice President - Strategic Partnerships, stated that despite losing an account, they continue to have a strong share in the lightweight litter segment. They are targeting national retailers who don't carry their products and are optimistic about growth prospects in the private label lightweight business. Q: With natural gas prices expected to rise, are there alternatives to reduce operating costs at the plant level? A: Aaron Christiansen, Vice President of Operations, mentioned that while they have explored alternative fuels and drying technologies, natural gas remains the most cost-effective option. They are continuously optimizing fuel consumption and exploring new technologies to improve efficiency. Q: Is artificial intelligence playing a role in controlling expenses or targeting advertising? A: Susan Kreh, Chief Financial Officer, stated that they are at the beginning of their AI journey, using it to supplement team efficiency in areas like customer service and accounts payable. They have a five-year roadmap to further integrate AI for expense control. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
Bloomberg
05-06-2025
- Business
- Bloomberg
China's Didi Swings Back to Profit After Global Business Revs Up
Didi Global Inc. returned to profit in the March quarter, a boost for a Chinese ride-hailing leader gearing up for a potential Hong Kong market debut. Revenue rose 8.5% to 53.3 billion yuan ($7.4 billion) as it ramped up overseas expansion. Net income roughly tripled to 2.4 billion yuan.
Yahoo
31-05-2025
- Business
- Yahoo
Laurentian Bank of Canada (LRCDF) Q2 2025 Earnings Call Highlights: Navigating Challenges with ...
Total Revenue: $242.5 million, down 4% year-over-year and 3% quarter-to-quarter. Net Income (Reported): $32.3 million. Diluted EPS (Reported): $0.69. Net Income (Adjusted): $34 million, down 16% year-over-year and 14% quarter-to-quarter. Diluted EPS (Adjusted): $0.73, decreased by 19% year-over-year and 6% quarter-to-quarter. Efficiency Ratio (Adjusted): 75.2%, increased by 140 basis points year-over-year and 90 basis points sequentially. Net Interest Margin: Stable at 1.85% quarter-over-quarter, up 5 basis points year-over-year. Net Interest Income: Up by $2.6 million or 1% year-over-year; down by $4 million or 2% sequentially. Other Income: $60.3 million, down 17% year-over-year and 4% sequentially. Non-Interest Expenses: $182.3 million, down 2% year-over-year and 1% sequentially. CET1 Ratio: Increased by 10 basis points to 11% sequentially. Commercial Loan Growth: Increased by about $300 million year-over-year and sequentially. Inventory Financing Utilization Rate: 46%, below historical averages. Residential Mortgage Loans: Down 4% year-over-year and 1% sequentially. Allowances for Credit Losses: $204.3 million, down $2.6 million compared to last quarter. Provisions for Credit Losses: $16.7 million, decreased by $1.2 million year-over-year; up $1.5 million sequentially. Gross Impaired Loans: Increased by $104.6 million year-over-year; relatively stable sequentially. Warning! GuruFocus has detected 3 Warning Signs with LRCDF. Release Date: May 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Laurentian Bank of Canada (LRCDF) has made significant progress in executing its strategic plan, focusing on technology investments to improve efficiency and customer experience. The bank's commercial loan portfolio grew by 1% compared to the previous quarter, with commercial assets now comprising 49% of the total portfolio. The bank maintained a stable net interest margin of 1.85% quarter over quarter, indicating consistent financial performance. Laurentian Bank of Canada (LRCDF) reported a strong commercial banking net promoter score, reflecting high customer satisfaction. The bank's CET1 ratio increased by 10 basis points to 11% sequentially, indicating a solid capital position and readiness for future growth opportunities. Total revenue for the quarter was $242.5 million, down 4% compared to last year and 3% quarter to quarter. Net income decreased by 16% compared to last year and 14% compared to the previous quarter, reflecting financial challenges. The bank's efficiency ratio increased by 140 basis points compared to last year, driven by elevated expenses related to technology investments. Other income decreased by 17% year over year, primarily due to lower fees and securities brokerage commissions. The provisions for credit losses increased sequentially, reflecting higher provisions on performing loans amid uncertain macroeconomic conditions. Q: Is there anything unusual in this quarter's results that we should be aware of? A: Eric Provost, President and CEO, stated that there were no unusual elements in the quarter. The focus remains on specialized sectors, particularly commercial, with a strong unfunded pipeline in commercial real estate and good performance in inventory finance. Q: Can you provide details on the growth and diversification of the inventory finance sector? A: Eric Provost explained that the bank has added about 100 new dealers this quarter, growing the dealer base by 6% year over year. The growth is primarily in new sectors like agriculture, construction, and IT, which positions the bank well for future growth. Q: What is the outlook for the bank's capital levels and potential deployment? A: Yvan Deschamps, CFO, mentioned that the bank's capital ratio is at 11%, with plans to manage above 10%. The bank expects to deploy capital in inventory financing and commercial real estate as these sectors normalize and grow. Q: How is the bank progressing with its technology investments and efficiency improvements? A: Eric Provost noted that significant progress has been made in technology investments aimed at improving efficiency. The bank expects to see momentum in efficiency ratios starting in 2026, with a focus on simplifying technology infrastructure and processes. Q: What is the current status of the bank's digital offerings and funding strategy? A: Eric Provost stated that while there is no immediate plan for a major digital product launch, the bank is focused on foundational investments and exploring partnerships to enhance digital offerings. The goal is to improve customer experience and differentiate in the market. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
31-05-2025
- Business
- Yahoo
UP Fintech Holding Ltd (TIGR) Q1 2025 Earnings Call Highlights: Record Revenue and Client ...
Total Revenue: USD 122.6 million, up 55.3% year over year. Commission Income: USD 58.3 million, more than doubling year over year. Interest Income: USD 53.8 million, increased 22.7% year over year. Non-GAAP Net Income: USD 36 million, up 18.3% sequentially and 145% year over year. GAAP Net Income: USD 30.4 million, up 8.4% quarter over quarter and 146.7% year over year. Total Trading Volume: USD 217 billion. Marketing, Financing, and Securities Lending Balance: USD 5.2 billion, increased 89.4% year over year. New Funded Accounts: 60,900 added in the first quarter, a 2.9% increase quarter-over-quarter and 111.2% growth year over year. Total Funded Accounts: 1,152,900, an increase of 23.5% year over year. Total Client Assets: USD 45.9 billion, up 9.9% quarter-over-quarter and 39.5% year-over-year. Interest Expense: USD 50 million, decreased 10% quarter over quarter. Employee Compensation and Benefits Expense: USD 33.8 million, an increase of 22% year over year. Marketing Expense: USD 10.9 million, increased 148% year-over-year. Total Operating Costs: USD 67.1 million, an increase of 32% from the same quarter of last year. Non-GAAP Profit Margin: Expanded from 25% in the previous quarter to nearly 30% this quarter. Warning! GuruFocus has detected 2 Warning Signs with TIGR. Release Date: May 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Total revenue for the first quarter reached USD122.6 million, marking a 55.3% increase year over year. Trading volume hit USD217 billion, driving commission income to a record high of USD58.3 million, more than doubling year over year. Non-GAAP net income increased to USD36 million, reflecting an 18.3% sequential increase and a 145% increase year over year. The company added 60,900 new funded accounts in Q1, achieving over 40% of its full-year target. Client assets reached a record high of USD45.9 billion, marking the 10th consecutive quarter of growth. Interest income slightly decreased by 4% quarter over quarter due to the maturity of US treasury holdings. Cash equities take rate decreased slightly from 6.9 bps to 6.7 bps quarter over quarter. Execution and carrying expenses increased by 139% year over year, in line with increased trading volumes. Marketing expenses rose by 148% year over year, reflecting higher costs for user acquisition. The average customer acquisition cost (CAC) is expected to rise to USD250 to USD300, up from USD150 to USD180. Q: With markets remaining volatile in the second quarter, how has this affected the company's run rate so far? Could you share any early trends around trading volume, client assets, and newly funded accounts? A: (Tianhua Wu, CEO) We are pleased with the second quarter's progress. Trading volume hit a record high in April, surpassing USD100 billion. Client assets have also reached a new high, increasing by double digits compared to the first quarter. However, due to market volatility, we expect a decrease in new funded accounts compared to Q1, but user quality remains strong, and we are confident in meeting our annual target of 150,000 new funded users. Q: Looking ahead, how should we think about the cost, particularly headcount and customer acquisition? Can you provide guidance on customer acquisition costs? A: (Fei Zeng, CFO) We will continue investing in product and R&D, with headcount growth remaining disciplined. Compensation expenses are expected to grow 10% to 20% annually. Marketing spending will increase, especially in the second half of the year, with customer acquisition costs rising to USD250-300 due to investments in high-value markets and brand awareness. Q: Could you elaborate on the breakdown of asset inflows in terms of regions and account types? A: (Tianhua Wu, CEO) In Q1, we recorded USD3.2 billion in net asset inflows, with 60% from Greater China, 30% from Singapore, and 10% from the US, Australia, and New Zealand. Retail clients contributed 60% of these inflows. Q: Your margin financing and security lending balances grew, yet net interest income remained flat. Was this due to declining interest rates? What impact would a Fed rate cut have? A: (Fei Zeng, CFO) The flat net interest income was due to matured US treasury investments, impacting income by USD1.5 million. A 25 bps Fed rate cut would negatively impact quarterly net interest income by USD1-1.5 million, about 1% of quarterly revenue. Q: Could you provide a regional breakdown of newly funded accounts in Q1? How do you view the Hong Kong market opportunity, especially with increased competition? A: (Tianhua Wu, CEO) In Q1, 45% of new accounts were from Singapore and Southeast Asia, 35% from Greater China, and 10% each from Australia, New Zealand, and the US. Hong Kong remains a key market despite competition, with strong client assets growth and high ARPU. We plan to continue investing in talent and marketing to secure a meaningful market share. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
