Earnings Call Transcripts
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All Earnings Calls
Northern Oil and Gas Q2 2025 Earnings Call - Cash Generation and a Clear Pivot from Drilling to Acquisitions
Northern Oil and Gas posted another quarter that looks good on the scoreboard but feels like a strategic pivot in motion. Q2 delivered strong cash flow and EBITDA, a rapidly growing wells-in-process l...
- Q2 production: ~134,000 boe/d, up 9% year over year, flat sequentially.
- Oil production ~77,000 bbl/d, up 10.5% YoY and down ~2% sequentially due to Williston activity pullback.
- Record gas volumes of ~343 mmcf/d; natural gas realizations fell to 82% of benchmark from 100% last quarter, pressured by WAHA weakness, lower NGLs, and seasonal Appalachian softness.
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WesBanco Q2 2025 Earnings Call - Premier conversion lifts NIM, fee income and organic growth
WesBanco used its Premier Financial Corp. acquisition as a catalyst this quarter, completing a large customer data system conversion and reporting sharply improved profitability metrics. Excluding mer...
- Q2 2025 GAAP net income to common shareholders was $54.9 million, or $0.57 per share; excluding merger and restructuring charges net income was $87.3 million, or $0.91 per diluted share.
- Net interest margin improved to 3.59% in Q2, a 24 basis point sequential increase and 64 basis points year over year, aided by higher loan and securities yields, lower funding costs, and 37 basis points of purchase accounting accretion from Premier.
- Fee income rose 40% year over year to $44 million, driven by trust fees, service charges, electronic banking fees, and securities brokerage revenue; trust and brokerage assets under management and account values are about $10 billion.
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Healthcare Realty Trust Q2 2025 Earnings Call - Strategic pivot to operations-first plan, dividend cut and $300M reinvestment to unlock lease-up upside
Healthcare Realty rolled out a clear break-from-the-past plan, dubbed Healthcare Realty 2.0, shifting from a transactions-first model to an operations and asset-management focus. Management cut the di...
- Healthcare Realty 2.0 announced, shifting company culture from transactions-driven to operations/asset-management oriented with earnings growth prioritized.
- Dividend reduced 23% to $0.24 per share quarterly, intended to free approximately $100 million annually for reinvestment and relieve pressure from $1.4 billion of near-term low-coupon maturities.
- Normalized FFO per share for Q2 was $0.41, a $0.02 sequential increase; FAD was $0.33 per share, a $0.04 sequential increase.
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Brookfield Business Partners Q2 2025 Earnings Call - Seeds Evergreen Secondary at 8.6% Discount, Unlocks $690M Redemption Value
Brookfield Business Partners delivered a solid Q2 with adjusted EBITDA of $591 million, up from $524 million a year earlier, and adjusted EFO of $234 million. Management used the quarter to surface li...
- Adjusted EBITDA rose to $591 million in Q2 2025, up from $524 million a year earlier; adjusted EFO was $234 million for the quarter.
- Management realized more than $800 million from asset sales and distributions over recent months, and invested roughly $300 million to buy two market-leading businesses.
- Brookfield sold portions of its interest in three businesses into Brookfield’s Evergreen Fund and received units with an initial redemption value of $690 million, representing an aggregate 8.6% discount to the NAV of the interests sold.
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"Cousins Properties" Second Quarter 2025 Earnings Call - Sun Belt Office Rebound, Accretive Uptown Dallas Buy
Cousins delivered a quietly impressive quarter that pushes back against the narrative that office REITs cannot grow. Q2 FFO came in at $0.70, a penny above consensus, same-property cash NOI rose, leas...
- Q2 FFO of $0.70 beat consensus by $0.01; company raised 2025 FFO guidance to $2.79–$2.85, midpoint $2.82, a 4.8% increase over 2024.
- Same-property performance: GAAP NOI up 3.2% year over year in Q2, cash NOI up 1.2% in the quarter and 1.6% year to date on a cash basis.
- Leasing momentum strong: 334,000 square feet completed in Q2, with 80% of that volume new or expansion leases and a weighted average lease term of 7.9 years.
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Scorpio Tankers Second Quarter 2025 Earnings Call - Built Liquidity and Structural Tightness Point to Sustained Rate Strength
Scorpio Tankers closed Q2 with powerful cash generation and an intentionally conservative balance sheet. Adjusted EBITDA hit $144.5 million, adjusted net income $67.8 million, and operating cash flow ...
- Q2 adjusted EBITDA was $144.5 million, adjusted net income was $67.8 million, or $1.41 per diluted share.
- Operating cash flow excluding working capital changes exceeded $130 million in Q2 and about $240 million year to date.
- Total liquidity is about $1.4 billion, including $472 million cash and roughly $834 million of undrawn revolvers, plus the DHT stake.
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Patria Investments Q2 2025 Earnings Call - Lifts 2025 Fundraising Target on Strong Organic Flows and Strategic REIT Acquisitions
Patria used the second quarter to prove a point — diversify and scale, and the dollars follow. Q2 showed robust organic flows, disciplined expense control, and opportunistic M&A that together prompted...
- Raised full-year 2025 fundraising guidance to $6.3–$6.6 billion, up 5%–10% from the original $6.0 billion target.
- Q2 2025 fundraising was $1.3 billion; H1 2025 total fundraising reached approximately $4.5 billion (about 75% of original 2025 target).
- Fee-related earnings (FRE) in Q2 were $46.1 million, up 8% sequentially and 17% year over year; FRE per share was $0.29.
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Casella Waste Systems Q2 2025 Earnings Call - Acquisitions Lift Revenue, Mid Atlantic Integration Temporarily Squeezes Margins
Casella posted a loud top-line quarter, driven mostly by dealmaking. Q2 revenue jumped 23.4% to $465.3 million, with roughly $67 million coming from acquisitions and healthy organic pricing contributi...
- Revenue of $465.3 million in Q2, up 23.4% year over year, driven by $67.1 million of acquisition-related contribution and $21 million (5.6%) organic growth.
- Adjusted EBITDA was $109.5 million, up 19.5% year over year, but adjusted EBITDA margin slipped to 23.5%, down roughly 75 basis points versus last year.
- Acquisitions diluted margin performance by about 85 basis points; same-store legacy operations expanded margins by roughly 10 basis points and the broader legacy footprint showed over 100 basis points of margin improvement.
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Hayward Holdings Q2 2025 Earnings Call - Record Margins, Tariff Shock Absorbed, Leverage Falls to 2.1x
Hayward posted a clean quarter: net sales up 5% to about $300m, adjusted EBITDA $88m and adjusted diluted EPS $0.24, while gross margin hit a quarterly record 52.7%. Management credits a mix of operat...
- Net sales +5% year over year to ~ $300m, driven by +5% net price, -2% volume and +2% from the ClorKing acquisition.
- Record consolidated gross profit margin of 52.7%, the tenth consecutive quarter of year over year gross margin expansion.
- Adjusted EBITDA $88m, up 7% year over year; adjusted EBITDA margin 29.5%; adjusted diluted EPS $0.24, up 14%.
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Federated Hermes, Inc. Second Quarter 2025 Earnings Call - Record AUM Led by Money Markets and MDT Equity Flows, Tokenization in Motion
Federated Hermes closed Q2 2025 with record AUM of $846 billion, driven by a surge in money market assets and strong net sales into MDT equity strategies. Management highlighted continued momentum in ...
- Record AUM of $846 billion at end of Q2 2025, led by equity gains and money market inflows.
- Equity assets grew $8.1 billion quarter over quarter, a 10% increase; Q2 equity net sales were $1.8 billion, ~9% organic growth.
- MDT fundamental quant strategies drove strong demand, with $3.8 billion of net sales in Q2, up from $3.3 billion in Q1.
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