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IES Holdings(IESC) - 2025 Q2 - Quarterly Report
2025-05-02 11:51
Financial Performance - Consolidated revenues for the three months ended March 31, 2025, were $833.96 million, an increase of 18.2% compared to $705.73 million for the same period in 2024[110] - Gross profit for the three months ended March 31, 2025, increased to $208.87 million, representing a gross profit margin of 25.0%, up from 24.3% in the prior year[111] - Net income attributable to IES Holdings, Inc. for the three months ended March 31, 2025, was $70.65 million, an increase of 33.7% from $52.91 million in the prior year[109] - For the six months ended March 31, 2025, consolidated revenues were $1.58 billion, an increase of 18.2% compared to $1.34 billion for the same period in 2024[114] - The overall gross profit percentage for the six months ended March 31, 2025, increased to 24.4%, compared to 23.5% in the same period in 2024[115] Segment Performance - The Communications segment's revenues increased by $79.5 million, or 41.1%, during the three months ended March 31, 2025, driven by strong demand in the data center market[117] - Residential segment revenues decreased by $21.4 million, or 6.3%, to $317.966 million for the three months ended March 31, 2025, compared to $339.372 million for the same period in 2024[123] - Infrastructure Solutions segment revenues increased by $41.8 million, or 55.2%, to $117.620 million for the three months ended March 31, 2025, driven by strong demand and acquisitions[128] - Commercial & Industrial segment revenues increased by $28.3 million, or 29.1%, to $125.358 million for the three months ended March 31, 2025, driven by strong demand in data center and education markets[134] Profitability and Expenses - Selling, general and administrative expenses for the three months ended March 31, 2025, were $116.04 million, a 21.8% increase from $95.27 million in the same period in 2024[113] - Gross profit in the Residential segment decreased by $9.0 million, or 10.1%, to $79.672 million, with gross profit as a percentage of revenue declining to 25.1% from 26.1% year-over-year[124] - Selling, general and administrative expenses in the Residential segment increased by $1.9 million, or 3.4%, to $57.151 million, raising the percentage of revenue to 18.0% from 16.3%[124] - Gross profit in the Infrastructure Solutions segment increased by $15.6 million, or 65.5%, to $39.301 million, with gross profit as a percentage of revenue rising to 33.4% from 31.3%[129] - Selling, general and administrative expenses in the Infrastructure Solutions segment increased by $4.9 million, or 63.7%, to $12.487 million, with the percentage of revenue increasing to 10.6% from 10.1%[130] - Gross profit in the Commercial & Industrial segment increased by $6.6 million, or 32.5%, to $26.853 million, with gross profit as a percentage of revenue increasing to 21.4% from 20.9%[135] - Selling, general and administrative expenses in the Commercial & Industrial segment increased by $2.3 million, or 26.6%, to $11.024 million, while the percentage of revenue decreased to 8.8% from 9.0%[136] Cash Flow and Investments - Net cash provided by operating activities increased to $62.1 million for the six months ended March 31, 2025, up from $58.7 million in the same period of 2024, driven by increased earnings[166] - Net cash used in investing activities rose significantly to $97.1 million for the six months ended March 31, 2025, compared to $11.4 million in the prior year, including $44.9 million for acquiring a membership interest in Jett Texas Company LLC[167] - Net cash used in financing activities increased to $43.4 million for the six months ended March 31, 2025, compared to $17.1 million in the same period of 2024, primarily due to $36.3 million used for stock repurchases[168] - The company repurchased 139,362 shares under its stock repurchase program during the six months ended March 31, 2025[169] Future Outlook and Strategic Initiatives - The company expects an increase in multi-family bid activity in the second half of fiscal 2025, which is anticipated to benefit revenues in fiscal 2026[106] - The company plans to reduce reliance on leasing by increasing the purchase of vehicles and equipment, reflecting a strategic shift in capital expenditure management[173] - Capital expenditures for the fiscal year ending September 30, 2025, are expected to range from $70 million to $80 million, a substantial increase from $45.2 million for the year ended September 30, 2024[173] Backlog and Performance Obligations - Backlog across all business segments remains high, indicating strong demand in key end markets, particularly for data centers[106] - Remaining performance obligations as of March 31, 2025, totaled $1,225.9 million, compared to $1,214.8 million as of December 31, 2024[152] - Backlog increased to $1,812.7 million as of March 31, 2025, from $1,753.9 million as of December 31, 2024[152] Tax and Interest Expenses - Income tax expense for the six months ended March 31, 2025, was $46.1 million, up from $34.8 million in the same period of 2024, driven by increased pretax income[147] - Total interest expense for the six months ended March 31, 2025, was $0.8 million, a slight decrease from $0.8 million in the same period of 2024[144] Marketable Securities and Risk Exposure - As of March 31, 2025, the company had investments in marketable securities with a fair value of $65.8 million, with a potential $6.6 million impact on pre-tax income from a hypothetical 10% change in market value[176] - The company is exposed to interest rate risk due to floating rate debt under its revolving credit facility, with no borrowings outstanding as of March 31, 2025[177] - An unrealized gain of $7.8 million was recorded in the six months ended March 31, 2025, due to changes in the market value of investments[176]
U.S. Cellular(USM) - 2025 Q1 - Quarterly Report
2025-05-02 11:49
Financial Performance - UScellular reported total operating revenues of $891 million for the three months ended March 31, 2025, a decrease of 6% compared to $950 million for the same period in 2024[25]. - Wireless operating revenues decreased by 7% to $864 million, while Towers segment revenues increased by 5% to $61 million[25]. - Operating income fell by 19% to $41 million, with net income attributable to UScellular shareholders remaining flat at $18 million[25]. - Adjusted OIBDA decreased by 6% to $215 million, and Adjusted EBITDA decreased by 7% to $254 million[25]. - Total operating revenues for the three months ended March 31, 2025, were $864 million, a decrease of 7% compared to $925 million in the same period of 2024[34]. - UScellular's net income for the three months ended March 31, 2025, was $20 million, compared to $24 million for the same period in 2024[86]. - Operating income for Q1 2025 was $41 million, a decrease of 19.6% compared to $51 million in Q1 2024[110]. - EBITDA for the three months ended March 31, 2025, was $243 million, compared to $260 million for the same period in 2024[86]. - Service revenues decreased to $741 million in Q1 2025, down from $754 million in Q1 2024, representing a decline of 1.7%[110]. - Equipment sales decreased to $150 million in Q1 2025, compared to $196 million in Q1 2024, reflecting a decline of 23.5%[134]. Capital Expenditures - Capital expenditures significantly decreased by 60% to $53 million compared to $131 million in the prior year[25]. - Capital expenditures for the wireless segment significantly decreased by 60% to $51 million in Q1 2025 from $127 million in Q1 2024[34]. - Capital expenditures decreased by $78 million or 60% year-over-year, aligning with the focus on enhancing speed and capacity for existing 5G services[66]. - The company expects to finance its capital expenditures for 2025 primarily through cash flows from operating activities and existing cash balances[67]. Debt and Financing - UScellular's long-term debt as of March 31, 2025, totaled $2.918 billion, with a weighted average interest rate of 6.1%[107]. - Approximately 70% of UScellular's long-term debt is in fixed-rate senior notes, while 30% is in variable-rate debt[105]. - UScellular's consolidated leverage ratio is required to be maintained at a maximum of 4.00 to 1.00 until March 31, 2025, and then reduced to 3.75 to 1.00 thereafter[62]. - UScellular has an unsecured revolving credit agreement with a maximum borrowing capacity of $300 million, with no outstanding borrowings as of March 31, 2025[160]. - UScellular's outstanding borrowings under term loan agreements were $718 million as of March 31, 2025, with maximum borrowing capacities of $800 million[162]. Shareholder Actions - The company repurchased 328,835 common shares for $21 million at an average cost of $63.49 per share during the three months ended March 31, 2025[71]. - The maximum number of shares that may yet be purchased under the stock repurchase plan is 658,107 shares[197]. - UScellular anticipates declaring special dividends to shareholders following the completion of the T-Mobile transaction, pending regulatory approval[72]. Network and Operations - The company continues to enhance its network capabilities by deploying 5G technology to meet growing customer demand for data services[20]. - UScellular serves approximately 4.4 million retail connections, including about 3.9 million postpaid and 0.4 million prepaid connections[13]. - UScellular incurred third-party expenses related to announced transactions of $10 million for the three months ended March 31, 2025, compared to $7 million in the same period of 2024[21]. - Total tower revenues increased by 5% to $61 million in Q1 2025, up from $58 million in Q1 2024, driven by new colocations and rent escalations[45]. Transactions and Sales - The company is in the process of selling its wireless operations and select spectrum assets to T-Mobile for a total purchase price of $4,400 million, expected to close in mid-2025[15]. - UScellular entered into agreements to sell wireless spectrum licenses to Verizon and AT&T for total proceeds of $1,000 million and $1,018 million, respectively, both transactions subject to regulatory approval[17][18]. - UScellular agreed to sell its wireless operations and select spectrum assets to T-Mobile for a purchase price of $4,400 million, with approximately $2,000 million in debt assumption[151]. - UScellular entered into a License Purchase Agreement with Verizon for certain wireless spectrum licenses, expecting total proceeds of $1,000 million, with a book value of $586 million as of March 31, 2025[152]. - UScellular also signed a License Purchase Agreement with AT&T for certain wireless spectrum licenses, with total proceeds of $1,018 million and a book value of $859 million as of March 31, 2025[153]. Customer Metrics - UScellular's retail connections decreased to 4,377,000 as of March 31, 2025, down from 4,487,000 in 2024, representing a decline of 2.5%[29]. - Postpaid revenue average revenue per user (ARPU) increased slightly to $52.06 in Q1 2025 from $51.96 in Q1 2024, while average revenue per account (ARPA) rose to $132.25 from $132.00[32]. - Total postpaid handset net losses decreased by 11% to 39,000 in Q1 2025 compared to 44,000 in Q1 2024, attributed to increased gross additions and reduced defections[30]. Cash Flow and Assets - Cash flows from operating activities for Q1 2025 were $160 million, down from $203 million in Q1 2024[89]. - Free cash flow for the three months ended March 31, 2025, was $79 million, an increase from $61 million in the same period of 2024[89]. - Total current assets increased to $1,373 million as of March 31, 2025, compared to $1,345 million at the end of 2024, reflecting a growth of 2.08%[114]. - Cash and cash equivalents rose to $182 million, up 26.39% from $144 million at the end of 2024[114]. - Total assets decreased to $10,365 million as of March 31, 2025, from $10,449 million at the end of 2024, a decline of 0.81%[114].
ITTI(TDS) - 2025 Q1 - Quarterly Results
2025-05-02 11:36
Financial Performance - TDS reported total operating revenues of $1,154 million for Q1 2025, a decrease of 8.6% from $1,262 million in Q1 2024[4] - Net income attributable to TDS common shareholders was $(10) million, resulting in a diluted loss per share of $(0.09), compared to a net income of $12 million and earnings per share of $0.10 in the same period last year[4] - UScellular reported operating revenues of $891 million for Q1 2025, a decrease of 6% compared to $950 million in Q1 2024[28] - TDS Telecom's operating revenues were $257 million in Q1 2025, down 3% from $266 million in Q1 2024[28] - Net income for the three months ended March 31, 2025, was $12 million, a decrease of 68.4% compared to $38 million in the same period of 2024[31] - Total operating revenues for UScellular decreased by 6% to $891 million in Q1 2025, down from $950 million in Q1 2024[39] - Adjusted EBITDA for UScellular was $254 million, reflecting a 7% decline from $272 million in the previous year[39] - TDS Telecom's net income for Q1 2025 was $4 million, significantly down from $24 million in Q1 2024[50] - UScellular's net income for Q1 2025 was $20 million, a decrease from $24 million in Q1 2024[48] Customer Metrics - TDS Telecom added 14,000 marketable fiber service addresses in Q1 2025, contributing to ongoing fiber deployment efforts[5] - The company reported 2,800 residential broadband net additions in Q1 2025, with 8,300 coming from fiber markets[10] - Total residential connections decreased to 931,400 in Q1 2025 from 956,100 in Q1 2024, reflecting a decline in broadband and voice connections[25] - Total broadband connections increased slightly to 555,800 in Q1 2025, compared to 547,900 in Q1 2024[25] - The churn rate for residential fiber connections was 0.9% in Q1 2025, an improvement from 1.0% in Q4 2024[25] - Average Revenue Per User (ARPU) for postpaid customers increased to $52.06 in Q1 2025, up from $51.96 in Q1 2024[23] Capital Expenditures and Cash Flow - Capital expenditures for UScellular were $53 million in Q1 2025, significantly lower than $162 million in Q4 2024[25] - Capital expenditures for UScellular dropped significantly by 60% to $53 million in Q1 2025, compared to $131 million in Q1 2024[39] - TDS consolidated free cash flow for Q1 2025 was $47 million, compared to a negative $20 million in Q1 2024[45] - UScellular's free cash flow increased to $79 million in Q1 2025 from $61 million in Q1 2024[45] - TDS consolidated cash flows from operating activities were $186 million in Q1 2025, down from $224 million in Q1 2024[45] Strategic Initiatives and Changes - TDS is undergoing foundational changes in its remaining businesses, focusing on enhancing customer experience and improving margins over time[5] - UScellular is not providing financial guidance for 2025 due to the pending transaction with T-Mobile[9] - The expected closing of the sale of UScellular's wireless operations to T-Mobile is anticipated in mid-2025, pending regulatory approval[6] - TDS is focusing on strategic alternatives, with expenses related to this review amounting to $10 million for UScellular in Q1 2025, up from $7 million in Q1 2024[48] Assets and Liabilities - Total assets as of March 31, 2025, were $13,536 million, a decrease from $13,682 million at the end of 2024[33] - Total current liabilities decreased to $960 million as of March 31, 2025, from $1,090 million at the end of 2024[35] - TDS shareholders' equity decreased to $5,078 million as of March 31, 2025, from $5,091 million at the end of 2024[35]
fuboTV(FUBO) - 2025 Q1 - Quarterly Results
2025-05-02 11:35
Financial Performance - Fubo ended Q1 2025 with 1.47 million North America subscribers and revenue of $407.9 million, exceeding guidance for revenue [3]. - Net income for Q1 2025 was $188.5 million, a significant improvement from a net loss of $56.3 million in Q1 2024, with EPS of $0.55 [11]. - Adjusted EBITDA for Q1 2025 was -$1.4 million, reflecting a $37.4 million improvement year-over-year [12]. - Free Cash Flow in Q1 2025 was -$62 million, an improvement of $9.3 million compared to Q1 2024 [15]. - Total revenues for Q1 2025 reached $416.3 million, a 3.4% increase from $402.3 million in Q1 2024 [40]. - Subscription revenue increased to $391.4 million, up 4.3% from $373.7 million year-over-year [40]. - Operating loss improved to $25.4 million in Q1 2025, compared to a loss of $63.3 million in Q1 2024 [40]. - Cash and cash equivalents increased to $321.6 million as of March 31, 2025, compared to $161.4 million at the end of 2024 [42]. - Total assets grew to $1.22 billion, up from $1.08 billion at the end of 2024 [42]. - Shareholders' equity increased to $389.0 million, compared to $180.8 million at the end of 2024 [42]. - The company reported a gain on settlement of litigation amounting to $219.7 million in Q1 2025 [40]. - Basic net income per share for continuing operations was $0.55, compared to a loss of $0.19 in Q1 2024 [40]. - For the three months ended March 31, 2025, fuboTV reported a net income from continuing operations of $188,488 thousand, compared to a net loss of $56,329 thousand in the same period of 2024 [43]. - The company generated $161,402 thousand in net cash provided by operating activities from continuing operations, a significant improvement from the net cash used of $67,046 thousand in the prior year [43]. - The average revenue per user (ARPU) for North America was $85.37 for the three months ended March 31, 2025, compared to $84.54 in the same period of 2024 [54]. - The total number of paid subscribers was approximately 1,585,130 for the three months ended March 31, 2025, reflecting growth in the user base [45]. - Net income from continuing operations for the three months ended March 31, 2025, was $188,488, compared to a loss of $56,329 for the same period in 2024 [56]. Revenue and Guidance - North America ad revenue for Q1 2025 was $22.5 million, representing a 17.3% decline year-over-year [17]. - Subscriber guidance for Q2 2025 projects 1,225,000 to 1,255,000 in North America, indicating a 14% year-over-year decline at the midpoint [24]. - Revenue guidance for Q2 2025 in North America is projected at $340 million to $350 million, representing a 10% year-over-year decline at the midpoint [24]. - Subscription revenue for the three months ended March 31, 2025, was $391,432 thousand, while advertising revenue was $22,881 thousand [54]. Strategic Initiatives - Fubo renewed its exclusive multi-year rights agreement with the English Premier League in Canada, enhancing its content offerings [19]. - New features such as personalized game alerts and live game scores are being introduced to optimize the sports streaming experience [20][21]. - The company aims to achieve profitability in 2025 for its global streaming business, focusing on innovative streaming experiences and customer value [6]. - FuboTV is pursuing a business combination with Hulu + Live TV, which is expected to enhance its market position and growth potential [35]. - The company is focused on strategic acquisitions and market expansion as part of its growth strategy moving forward [44]. - The company is in the process of a business combination with Hulu + Live TV, incurring certain transaction expenses related to this pending deal [57]. Cash Flow and Expenses - Free cash flow for the period was calculated as net cash provided by operating activities from continuing operations minus capital expenditures, indicating liquidity available for operational expenses and investments [51]. - Adjusted EBITDA for the three months ended March 31, 2025, was $(1,420), improving from $(38,818) in the same period of 2024, with an adjusted EBITDA margin of -0.3% [56]. - Free Cash Flow for the three months ended March 31, 2025, was $(61,994), a decline from $16,267 in the same period of 2024 [60]. - Net cash provided by operating activities for the trailing twelve months ended March 31, 2025, was $152,821, compared to $(163,052) for the same period in 2024 [61]. - Adjusted net loss from continuing operations for the three months ended March 31, 2025, was $(7,914), compared to $(41,518) in the same period of 2024 [62]. - The company reported certain litigation expenses of $7,050 for the three months ended March 31, 2025, compared to $2,257 in the same period of 2024 [62]. - Stock-based compensation for the three months ended March 31, 2025, was $3,464, down from $12,977 in the same period of 2024 [62]. - The weighted average shares outstanding for basic shares increased to 341,059,213 for the three months ended March 31, 2025, from 299,363,298 in the same period of 2024 [62].
U.S. Cellular(USM) - 2025 Q1 - Quarterly Results
2025-05-02 11:33
Exhibit 99.1 NEWS RELEASE As previously announced, UScellular will hold a teleconference on May 2, 2025, at 9:00 a.m. CDT. Listen to the call live via the Events & Presentations page of investors.uscellular.com. CHICAGO (May 2, 2025) — United States Cellular Corporation (NYSE:USM) reported total operating revenues of $891 million for the first quarter of 2025, versus $950 million for the same period one year ago. Service revenues totaled $741 million, versus $754 million for the same period one year ago. Ne ...
Shutterstock(SSTK) - 2025 Q1 - Quarterly Report
2025-05-02 11:32
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________________ FORM 10-Q ___________________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES E ...
Cboe(CBOE) - 2025 Q1 - Quarterly Results
2025-05-02 11:30
News Release Page 1 of 15 Cboe Global Markets Reports Results for First Quarter 2025 First Quarter Highlights* CHICAGO, IL – May 2, 2025 - Cboe Global Markets, Inc. (Cboe: CBOE) today reported financial results for the first quarter of 2025. "In the first quarter, Cboe reported record quarterly net revenue of $565 million, record diluted EPS of $2.37, and record adjusted diluted EPS of $2.50, with strong results from each of our Derivatives, Cash and Spot Markets, and Data Vantage categories," said Fredric ...
Shutterstock(SSTK) - 2025 Q1 - Quarterly Results
2025-05-02 11:30
Shutterstock Reports First Quarter 2025 Financial Results New York, NY - May 2, 2025 - Shutterstock, Inc. (NYSE: SSTK) (the "Company"), a leading global creative platform offering high- quality creative content for transformative brands, digital media and marketing companies, today announced financial results for the first quarter ended March 31, 2025. Commenting on the Company's performance, Paul Hennessy, the Company's Chief Executive Officer, said, "I am pleased to report that Shutterstock started the ye ...
Butterfly Network(BFLY) - 2025 Q1 - Quarterly Report
2025-05-02 11:28
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________ FORM 10-Q ____________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to Commission File Number: 001-39292 __ ...
Westlake Chemical Partners(WLKP) - 2025 Q1 - Quarterly Results
2025-05-02 11:25
EXHIBIT 99.1 WESTLAKE CHEMICAL PARTNERS LP Contact—(713) 585-2900 Investors—Steve Bender Media—L. Benjamin Ederington Westlake Chemical Partners LP Announces First Quarter 2025 Results • Declared quarterly distribution of $0.4714 per unit; 43 consecutive quarterly distribution rd HOUSTON--(BUSINESS WIRE)--Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership in the first quarter of 2025 of $4.9 million, or $0.14 per limited partner unit, whi ...