Financial Performance - Antero Midstream reported a net income of $121 million, or $0.25 per diluted share, representing a 19% increase per share compared to the prior year quarter[4]. - Adjusted EBITDA for the first quarter of 2025 was $274 million, a 3% increase year-over-year[15]. - Free Cash Flow after dividends was $79 million, reflecting a 7% increase compared to the prior year quarter[15]. - Revenues for the first quarter were $291 million, with $229 million from the Gathering and Processing segment and $62 million from the Water Handling segment[9]. - Antero Midstream's net income for the three months ended March 31, 2025, was $120,737,000, an increase of 16.1% compared to $103,926,000 for the same period in 2024[36]. - Total revenue for the three months ended March 31, 2025, was $291,129,000, up from $279,051,000 in the same period of 2024, representing a growth of 4.0%[36]. - Operating income for the three months ended March 31, 2025, was $177.223 million, up from $170.401 million in the same period of 2024[41]. - Cash flows provided by operating activities for the three months ended March 31, 2025, were $198.942 million, compared to $210.561 million in the same period of 2024[43]. - Total operating expenses for the three months ended March 31, 2025, were $113.906 million, compared to $58.345 million in the same period of 2024[41]. - The company incurred interest expense of $48.410 million for the three months ended March 31, 2025[41]. - Cash paid for interest during the period was $65.272 million for the three months ended March 31, 2025[43]. - Dividends to common stockholders increased to $112.615 million for the three months ended March 31, 2025, from $107.918 million in the same period of 2024[43]. Capital Expenditures and Investments - Capital expenditures increased by 25% year-over-year to $37 million, with $23 million allocated to gathering and compression and $12 million to water infrastructure[19]. - The company repurchased 1.7 million shares for $29 million, with approximately $443 million remaining under its $500 million share repurchase program[5]. - The company repurchased $28.569 million in common stock during the three months ended March 31, 2025[43]. - Net cash used in investing activities for the three months ended March 31, 2025, was $32.271 million, compared to $37.123 million in the same period of 2024[43]. Operational Metrics - Low pressure gathering volumes averaged 3,348 MMcf/d, a 1% increase from the prior year quarter, while high pressure gathering volumes increased by 5% to 3,106 MMcf/d[6]. - Fresh water delivery volumes averaged 105 MBbl/d, a 7% decrease compared to the prior year quarter[6]. - The company serviced 28 wells with fresh water delivery in the first quarter of 2025, an increase of 65% from 17 wells in the same period of 2024[38]. - The average compression fee increased by 5% to $0.22 per Mcf for the three months ended March 31, 2025[38]. - Gathering—high pressure volumes increased by 4% to 279,579 MMcf for the three months ended March 31, 2025[38]. Balance Sheet and Financial Position - Leverage ratio as of March 31, 2025, was 2.95x, indicating a strong balance sheet[4]. - Total current assets rose to $127,652,000 as of March 31, 2025, compared to $118,064,000 as of December 31, 2024[34]. - Long-term debt decreased slightly to $3,110,975,000 as of March 31, 2025, from $3,116,958,000 as of December 31, 2024[34]. - Antero Midstream's total assets were $5,752,118,000 as of March 31, 2025, compared to $5,761,748,000 as of December 31, 2024[34]. Future Outlook - The company anticipates continued growth in demand for its services due to Antero Resources' expected production increases[30].

Customer Concentration and Revenue - For the year ended December 31, 2024, two customers accounted for 18% and 17% of total revenues, while in 2023, two customers accounted for 33% and 10%[70]. - The company has encountered risks related to customer concentration, with a few major customers accounting for a substantial portion of revenues[71]. - The Company has a concentration of credit risk, with Customer A contributing HKD 1,771,000 (approximately US$229,000) in revenue for 2024[565]. - The company has not disclosed any significant customers that represent a substantial percentage of revenues or payables for any year presented[567]. Financial Performance and Revenue Sources - The company's brokerage commission income and handling charge income for the years ended December 31, 2023 and 2024 amounted to HK$12,011,000 and HK$2,494,000, representing 55% and 26% of total revenues respectively[79]. - Revenues from interest income derived from margin financing businesses for the years ended December 31, 2023 and 2024 were HK$5,981,000 and HK$3,059,000, representing 27% and 31% of total revenues respectively[90]. - The Company primarily derives its income from commissions, securities underwriting, and asset management fees, with no material amount of investment securities held for its own account[160]. Operating History and Market Risks - The company has a limited operating history since its subsidiaries began operations in 2018, which increases investment risks due to uncertainties in future growth and market acceptance[63]. - The company faces significant competition in the online brokerage industry, with larger competitors potentially having better resources and market presence[68]. - The company’s business growth may be affected by changes in global and regional macroeconomic conditions, including uncertainties in the Chinese economy[81]. - The online brokerage service industry in Hong Kong is at an early stage, and applicable laws may change, impacting the Company's operations and compliance costs[134]. Regulatory and Compliance Risks - The Company is subject to extensive regulatory requirements in Hong Kong, and non-compliance may result in penalties or revocation of licenses, adversely affecting its business and financial condition[133]. - The Company is classified as a "foreign private issuer," leading to less frequent reporting obligations compared to U.S. domestic companies[58]. - The Company may face increased costs if it loses its foreign private issuer status, requiring compliance with more extensive U.S. reporting requirements[173]. - The enactment of the Hong Kong National Security Law could impact the Company's operations, with potential sanctions affecting its business[138]. Cybersecurity and Operational Risks - The Company has not experienced any material cybersecurity breaches in the past, but it remains vulnerable to potential attacks that could compromise user information[110]. - The Company faces risks from unexpected network interruptions and system failures that could disrupt its services and affect customer satisfaction[107]. - The Company relies on third-party service providers for critical infrastructure and market information, and any failures in these services could adversely affect its operations[112]. Management and Governance - The company is classified as a "controlled company," with founders owning approximately 52.52% of ordinary shares, which may exempt it from certain Nasdaq corporate governance requirements[59]. - The Company's founder and CEO own an aggregate of 71.59% of the total voting power of the Company's outstanding Ordinary Shares, which may lead to conflicts of interest with minority shareholders[121]. - The Company is dependent on key executives and highly qualified managers, with a significant risk associated with their recruitment and retention[119]. Capital and Liquidity - A significant decrease in the company's liquidity could negatively affect its business and financial management, reducing customer confidence[93]. - The Company may need additional capital and could sell more Ordinary Shares or incur debt, leading to potential dilution for shareholders[167]. - The Company does not expect to pay dividends in the foreseeable future, intending to retain available funds for business development[164]. Risk Management and Internal Controls - The Company has invested significantly in developing risk management policies, but these may not be fully effective in all market environments or against all types of risks[103]. - As of December 31, 2024, the Company's management assessed its internal controls over financial reporting as effective[178]. - The Company has retained an external consultant to assist in maintaining its internal controls over financial reporting[178]. Changes in Customer Behavior and Market Adaptation - The company must adapt to evolving customer needs to maintain trading volume and customer retention, which is critical for its financial performance[75]. - The Company emphasizes the importance of timely and cost-effective responses to user needs, as failure to do so may materially affect its business and results of operations[100]. - The Company must continue to invest in new service offerings to remain competitive, but there are risks associated with the development and market acceptance of these services[102].

Revenue and Sales Performance - The Company generated revenue of $321.0 million, a decline of 0.7% from $323.4 million in the same period last year[60]. - U.S. sales declined 0.3% for the quarter compared to the same period in 2024, while Canada sales declined 8.8% (2.5% in local currency)[64]. Profitability and Margins - Consolidated gross margin increased to 34.9%, up from 34.3% year-over-year, benefiting from proactive price management[60]. - Operating margin for Q1 2025 increased by 30 basis points compared to Q1 2024, attributed to improved gross margin and cost control measures[70]. - Net income per diluted share from continuing operations increased 2.9% to $0.35 compared to $0.34 last year[60]. - Gross margin for Q1 2025 was 34.9%, a 60 basis point improvement from 34.3% in Q1 2024, driven by price capture and freight management[67]. Expenses and Cost Management - Selling, distribution and administrative expenses (SD&A) were $93.9 million, representing 29.3% of net sales, up from 28.9% last year[61]. - Selling, distribution, and administrative expenses (SD&A) as a percentage of sales increased by approximately 40 basis points year-over-year, with total salary and related costs rising by $2.7 million[69]. - The Company continues to maintain strong cost controls within discretionary spending[54]. - The Company is focused on integrating Indoff's operations and optimizing its cost structure amid ongoing IT control remediation[54]. Cash Flow and Liquidity - Net cash provided by operating activities from continuing operations was $3.3 million in Q1 2025, down from $6.3 million in Q1 2024, primarily due to changes in working capital[77]. - Cash and cash equivalents decreased by $5.6 million from $44.6 million as of December 31, 2024, to $39.0 million as of March 31, 2025[74]. - The company had over $156 million of liquidity (cash and undrawn line of credit) in the U.S. as of March 31, 2025[85]. - The company maintains a $125.0 million secured revolving credit facility, with total availability of approximately $122.2 million as of March 31, 2025[80]. Future Outlook - The Company anticipates increased volatility in margin rates due to market inflation and tariff-related cost increases[54]. - The company anticipates capital expenditures in the range of $2.0 to $3.0 million for 2025, with no contractual commitments at this time[83]. - Regular quarterly dividends in Q1 2025 totaled approximately $10.1 million, reflecting a dividend of $0.26 per common share[79].

Financial Performance - Net income attributable to shareholders for Q1 2025 was $89.9 million, compared to $31.3 million in Q1 2024, representing a significant increase[6] - Basic earnings per ordinary share for Q1 2025 were $0.88, up from $0.31 in Q1 2024, reflecting a growth of 184%[14] - Total revenues for Q1 2025 reached $502.1 million, a 53.7% increase from $326.7 million in Q1 2024[15] - Adjusted EBITDA for Q1 2025 was $268.6 million, with an adjusted EBITDA margin of 36% for Aerospace Products[6] - Adjusted EBITDA for Q1 2025 reached $268,558,000, reflecting a 63.7% increase compared to $164,101,000 in Q1 2024[23] - In the Aerospace Products segment, net income attributable to shareholders increased to $106,643,000 in Q1 2025, up 60.5% from $66,433,000 in Q1 2024[26] - Adjusted EBITDA for Aerospace Products in Q1 2025 was $130,945,000, representing an increase of 86.3% from $70,277,000 in Q1 2024[26] Revenue Growth - The company generated $365.1 million in Aerospace products revenue, compared to $189.1 million in the same quarter last year, marking a 93% increase[15] - Total assets increased to $4.27 billion as of March 31, 2025, up from $4.04 billion at the end of 2024[18] Debt and Expenses - Long-term debt increased to $3.64 billion as of March 31, 2025, compared to $3.44 billion at the end of 2024[18] - Provision for income taxes in Q1 2025 was $22,859,000, compared to $5,572,000 in Q1 2024, indicating a rise of 311%[23] - Depreciation and amortization expense for Q1 2025 was $68,387,000, an increase of 15.7% from $59,122,000 in Q1 2024[23] - Equity-based compensation expense rose to $4,889,000 in Q1 2025, compared to $510,000 in Q1 2024, marking a substantial increase of 855%[23] - Interest expense and dividends on preferred shares increased to $68,155,000 in Q1 2025, up from $56,042,000 in Q1 2024, a rise of 21.6%[23] - Acquisition and transaction expenses for Q1 2025 were $7,292,000, compared to $6,179,000 in Q1 2024, reflecting an increase of 18.0%[23] Market Demand and Initiatives - FTAI's Module Factory has over 100 customers worldwide, indicating strong market demand[6] - As of March 31, 2025, FTAI owned or had letters of intent for 98 aircraft under its Strategic Capital Initiative 2025 partnership[6] Dividends - The company declared a cash dividend of $0.30 per ordinary share for Q1 2025, payable on May 23, 2025[3] Other Financial Metrics - The pro-rata share of Adjusted EBITDA from unconsolidated entities improved to $41,000 in Q1 2025, compared to a loss of $548,000 in Q1 2024, a positive change of $589,000[23]

Financial Performance - Net income attributable to shareholders for Q1 2025 was $89.9 million, compared to $31.3 million in Q1 2024, representing a significant increase of 187%[6] - Basic earnings per ordinary share for Q1 2025 was $0.88, up from $0.31 in Q1 2024, reflecting a growth of 184%[14] - Total revenues for Q1 2025 reached $502.1 million, a 54% increase from $326.7 million in Q1 2024[15] - Adjusted EBITDA for Q1 2025 was $268.6 million, with a margin of 36% for Aerospace Products, which generated $131 million[6] - Adjusted EBITDA for Q1 2025 reached $268,558,000, representing a 63.7% increase compared to $164,101,000 in Q1 2024[23] - In the Aerospace Products segment, net income attributable to shareholders for Q1 2025 was $106,643,000, up 60.5% from $66,433,000 in Q1 2024[26] - Adjusted EBITDA for Aerospace Products in Q1 2025 was $130,945,000, a 86.3% increase from $70,277,000 in Q1 2024[26] Assets and Liabilities - Total current assets increased to $1.87 billion as of March 31, 2025, compared to $1.23 billion at the end of 2024[18] - Long-term debt increased to $3.64 billion as of March 31, 2025, up from $3.44 billion at the end of 2024[18] - The company reported a total of $4.27 billion in assets as of March 31, 2025, compared to $4.04 billion at the end of 2024[18] Expenses - Provision for income taxes in Q1 2025 was $22,859,000, compared to $5,572,000 in Q1 2024, reflecting a change of $17,287,000[23] - Depreciation and amortization expense increased to $68,387,000 in Q1 2025 from $59,122,000 in Q1 2024, a rise of $9,265,000[23] - Equity-based compensation expense rose to $4,889,000 in Q1 2025, compared to $510,000 in Q1 2024, indicating an increase of $4,379,000[23] - Interest expense and dividends on preferred shares increased to $68,155,000 in Q1 2025 from $56,042,000 in Q1 2024, an increase of $12,113,000[23] - Acquisition and transaction expenses for Q1 2025 were $7,292,000, up from $6,179,000 in Q1 2024, reflecting a change of $1,113,000[23] Market Demand and Operations - FTAI's Module Factory has over 100 customers worldwide, indicating strong market demand[6] - As of March 31, 2025, FTAI owned or had letters of intent for 98 aircraft under its Strategic Capital Initiative 2025 partnership[6] Dividends - The company declared a cash dividend of $0.30 per ordinary share for the quarter ended March 31, 2025[3] Other Financial Metrics - The pro-rata share of Adjusted EBITDA from unconsolidated entities improved to $41,000 in Q1 2025 from a loss of $548,000 in Q1 2024, a change of $589,000[23]

Exhibit 99.1 | (in thousands, except per share data) | | | | --- | --- | --- | | Selected Financial Results | | Q1'25 | | Net Income Attributable to Shareholders | $ | 89,944 | | Basic Earnings per Ordinary Share | $ | 0.88 | | Diluted Earnings per Ordinary Share | $ | 0.87 | | Adjusted EBITDA(1) | $ | 268,558 | (1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release. First Quarter 2025 Dividends On April 30, 2025, the Company's Board of Directors (the ...

| Segment Descriptions | 1 | | --- | --- | | Financial Highlights | 2 | | Consolidated Financial Statements | | | Income Statements | 3 | | Balance Sheets | 4 | | Pre-tax Operating Results and Related Metrics | | | Consolidated | 5-6 | | Core Commercial | 7-8 | | Specialty | 9-10 | | Personal Lines | 11-13 | | Investments | | | Net Investment Income and Yields | 14 | | Investment Portfolio | 15 | | Credit Quality and Duration of Fixed Maturities | 16 | | Top 10 Corporate and Municipal Fixed Maturity Holding ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________ FORM 10-Q (Mark One) þ 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 EXCHANGE ACT OF 1934 For the transition period from ____________to ____________ Commission File Number: 001-38598 _______________________ ...

Exhibit 99.1 Landmark's Board of Directors declared a cash dividend of $0.21 per share, to be paid June 4, 2025, to common stockholders of record as of the close of business on May 21, 2025. Management will host a conference call to discuss the Company's financial results at 9:30 a.m. (Central time) on Thursday, May 1, 2025. Investors may participate via telephone by dialing (833) 470-1428 and using access code 866149. A replay of the call will be available through May 8, 2025, by dialing (866) 813-9403 and ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or For the quarter ended March 31, 2025 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-13337 STONERIDGE, INC (Exact name of registrant as specified in its charter) Ohio 34-1598949 (State or other jurisdiction of incorporation or organization) (I.R.S. ...