Earnings Call Transcripts
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All Earnings Calls
NorthWestern Energy Group Second Quarter 2025 Earnings Call - Guidance Set as Colstrip Flip and Data Center Pipeline Recasts Growth Outlook
NorthWestern reported a muted Q2 with GAAP EPS $0.35 and adjusted EPS $0.40, down from last year as timing of interim rate relief and weather weighed on results. Management initiated 2025 non-GAAP gui...
- Q2 GAAP EPS $0.35, adjusted non-GAAP EPS $0.40, down from $0.52/$0.53 in prior year due mainly to timing of interim rate decisions and weather impacts.
- Launched 2025 non-GAAP EPS guidance of $3.53 to $3.65; guidance assumes revenue recognition consistent with the company’s settlement positions and a final Montana decision likely in Q4, retroactive to May 23.
- Reaffirmed long-term targets: 4% to 6% rate base and EPS growth, supported by a five-year capital plan of about $2.75 billion, with roughly 80% in transmission and distribution.
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Antero Midstream 2Q 2025 Earnings Call - Reuse Savings and Rising Free Cash Flow Cut Costs, Lower Leverage to 2.8x
Antero Midstream closed 2Q with stronger-than-expected operational throughput and cash generation. Q2 EBITDA rose to $284 million, driven by record gathering and processing volumes, and free cash flow...
- Q2 2025 adjusted EBITDA was $284 million, an 11% increase year over year, driven by record gathering and processing volumes.
- Free cash flow after dividends was $82 million in Q2, roughly a 90% increase year over year, used for share repurchases and debt reduction.
- Leverage declined to 2.8 times as of June 30, reflecting active debt paydown from free cash flow.
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Antero Resources Q2 2025 Earnings Call - Maintenance CapEx Down 26%, 20% Hedged and Break-even Cut to $1.75
Antero leaned into capital efficiency and downside protection this quarter, trimming maintenance CapEx while locking hedges that materially lower its cash‑flow breakeven. Management highlighted a 26% ...
- Maintenance CapEx declined 26% since 2023, from $900 million to $663 million, while maintenance production target rose about 5% (from under 3.3 Bcf‑equiv/day to over 3.4 Bcf‑equiv/day).
- Antero reports the lowest maintenance CapEx per MCFE in its peer group at $0.53, roughly 27% below the peer average of $0.73 per MCFE.
- The company has hedged approximately 20% of expected natural gas volumes through 2026 using wide costless collars with a floor near $3.14 and a ceiling near $6.31.
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Cullen/Frost Bankers, Inc. Q2 2025 Earnings Call - Expansion finally tipping to accretion while competition and multifamily stress demand watchful eyes
Cullen/Frost delivered a solid Q2 with $155.3 million in net income, loan growth outpacing deposits, and clear evidence that its multi-year branch expansion is achieving scale. Management says the exp...
- Q2 2025 net income $155.3 million, $2.39 per share, up from $143.8 million and $2.21 a year ago.
- Return on average assets 1.22% and ROE 15.64% in Q2, versus 1.18% and 17.08% in the year-ago quarter.
- Average loans grew to $21.1 billion, up 7.2% year over year; average deposits $41.8 billion, up 3.1% year over year.
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Hilton Grand Vacations Q2 2025 Earnings Call - HGV Max lifts VPG, securitization fuels free cash flow while guidance holds
Hilton Grand Vacations delivered a clean quarter: contract sales up 10% to $834 million, adjusted EBITDA $278 million, and VPG up 11% to about $3,690. Management credited HGV Max, improved pre-screeni...
- Contract sales rose 10% year over year to $834 million in Q2 2025.
- Adjusted EBITDA to shareholders was $278 million, with margins excluding reimbursements of 23%.
- Volume per guest (VPG) increased 11% year over year to about $3,690, driven by owner sales and HGV Max.
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Riot Platforms Q2 2025 Earnings Call - Pivoting to Data Centers to Monetize Megawatts While Mining Funds the Transition
Riot used a strong quarter in mining cash flow and a hefty Bitcoin mark-to-market gain to put muscle behind a clear strategic pivot: build a scalable data center platform that monetizes its ready-for-...
- Riot is explicitly transitioning from pure Bitcoin miner to a combined mining and data center developer, framing the strategy as monetizing megawatts and progressively shifting capacity to data centers where valuations can be higher.
- Company hired Jonathan Gibbs as Chief Data Center Officer and is building a hyperscale-capable data center team to lead commercial leasing and design, with a stated basis of design targeted for completion by end of Q3 2025.
- Corsicana is the strategic focal point: Riot is developing a 600 megawatt substation (part of a 1 GW target), with 400 MW on track for Q1 2026 and the remaining 200 MW expected in H2 2026, and has expanded contiguous landholdings to 858 acres to support varied tenant density needs.
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Bright Horizons Family Solutions Q2 2025 Earnings Call - Backup Care Roars, Full-Service Steady but Patchy
Bright Horizons posted a clean quarter: revenue +9% to $732m and adjusted EPS +22% to $1.07, driven by a breakout Backup Care business and steady recovery in full-service child care. Management raised...
- Q2 revenue grew 9% to $732 million; adjusted EPS rose 22% to $1.07, both ahead of expectations.
- Company raised full-year guidance: revenue now expected $2.90 to $2.92 billion (8% to 9% growth), adjusted EPS $4.15 to $4.25.
- Backup Care is the momentum engine, revenue up 19% to $163 million, with segment operating margins around 25% and management guiding 25% to 30% for the year.
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Hub Group Q2 2025 Earnings Call - Raises Cost-Save Target to $50M; Final Mile and Martin Deal to Drive Growth Amid Soft Import Demand
Hub Group reported a revenue hit from tariff-driven import shifts, but the quarter was a textbook example of operational defense. Revenue fell 8% to $906 million as intermodal and brokerage faced lowe...
- Revenue fell 8% year over year to $906 million in Q2 2025, driven by weaker import activity late in the quarter and tariff-driven shipping pattern changes.
- Intermodal revenue declined 6% to $528 million, yet intermodal operating income increased 6% year over year, reflecting margin resilience.
- Intermodal volumes rose 2% year over year, with refrigerated intermodal volume up 18% and Mexico volumes up over 300% year over year.
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DXC Technology Q1 FY2026 Earnings Call - Bookings Momentum and AI Push Cushion Near‑Term Revenue Declines
DXC reported a quarter of two narratives: near-term revenue pressure and improving commercial momentum. Organic revenue fell 4.3% year over year, but bookings rose 14% and trailing 12-month book-to-bi...
- Total revenue for Q1 FY2026 was $3.2 billion, organic decline of 4.3% year over year, toward the high end of guidance.
- Adjusted EBIT margin was 6.8%, down slightly (10 bps) year over year, with non-GAAP diluted EPS of $0.68.
- Free cash flow improved to $97 million vs $45 million in prior-year Q1, driven by lower in‑period capex and software payment timing.
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Corcept Therapeutics Q2 2025 Earnings Call - Demand surge outpaces pharmacy capacity as relacorilant and ROSELLA set stage for multi-billion growth
Corcept reported a strong Q2 with revenue of $194.4 million, but the call was dominated by an operational bottleneck: pharmacy fulfillment lagged a demand surge driven by wider physician screening and...
- Q2 revenue was $194.4 million, up from $163.8 million year over year, but net income was essentially flat at $35.1 million versus $35.5 million last year.
- Corcept narrowed its 2025 revenue guidance to $850 to $900 million, citing fulfillment delays that reduced near-term revenue.
- Pharmacy capacity constraints materially limited sales, with management estimating roughly a $15 million negative impact on Q2 results.
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