First American Financial Announces First Quarter 2025 Earnings Conference Call
—Earnings release dates for remainder of 2025—
SANTA ANA, Calif., April 07, 2025--(BUSINESS WIRE)--First American Financial Corporation (NYSE: FAF), a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today announced that it will host a conference call to discuss its first-quarter 2025 earnings results on Thursday, April 24, 2025, at 11 a.m. EDT.
The call will follow the release of the company's earnings results for the first quarter of 2025, which is scheduled for Wednesday, April 23, 2025, after the close of regular trading.
The conference call is open to investors, members of the financial community, the media and other members of the public. It can be accessed online at http://www.firstam.com/investor or by dialing toll free 877-407-8293. Callers from outside the United States may dial +1 201-689-8349.
An audio replay of the conference call will be available through May 8, 2025 by dialing 201-612-7415 and using the conference ID 13753085. An audio archive of the call and a copy of the first-quarter 2025 earnings release, including the financial information contained therein, will also be available on First American's investor website.
At the present time, the company expects to issue press releases announcing subsequent quarterly financial results on the following dates:
• Wednesday, July 23, 2025 – Second-quarter results
• Wednesday, Oct. 22, 2025 – Third-quarter results
The company will host conference calls on Thursday, July 24 and Thursday, Oct. 23 at 11 a.m. EDT.
About First American
First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 135 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $6.1 billion in 2024, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2025, First American was named one of the 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for the tenth consecutive year. The company was named one of the 100 Best Workplaces for Innovators by Fast Company for the second consecutive year in 2024. More information about the company can be found at www.firstam.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250407006967/en/
Contacts
Media Contact: Marcus GinnatyCorporate CommunicationsFirst American Financial Corporation(714) 250-3298Investor Contact: Craig BarberioInvestor RelationsFirst American Financial Corporation(714) 250-5214
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A live webcast of the conference call will be accessible on the Investor Relations section of Comtech's website at Alternatively, investors can access the conference call by dialing (800) 225-9448 (primary) or (203) 518-9708 (alternate) and using the conference I.D. of "Comtech." A replay will be available through Monday, June 23, 2025, by dialing (800) 934-2123 or (402) 220-1137. About Comtech Comtech Telecommunications Corp. is a leading provider of satellite and space communications technologies; terrestrial and wireless network solutions; Next Generation 911 ("NG-911") and emergency services; and cloud native capabilities to commercial and government customers around the world. Through its culture of innovation and employee empowerment, Comtech leverages its global presence and decades of technology leadership and experience to create some of the world's most innovative solutions for mission-critical communications. 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However, the risks described above are not the only risks that the Company faces. Additional risks and uncertainties, not currently known to the Company or that do not currently appear to be material, may also materially adversely affect its business, financial condition and/or operating results in the future. The Company describe risks and uncertainties that could cause actual results and events to differ materially in the "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Quantitative and Qualitative Disclosures about Market Risk" sections of its SEC filings. The Company does not intend to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise, except as required by law. Appendix: Condensed Consolidated Statements of Operations (Unaudited) Condensed Consolidated Balance Sheets (Unaudited) Use of Non-GAAP Financial Measures COMTECH TELECOMMUNICATIONS CORP. AND SUBSIDIARIES Consolidated Statements of Operations (Unaudited) (Unaudited) Three months ended April 30, Nine months ended April 30, 2025 2024 2025 2024 Net sales $ 126,787,000 128,076,000 $ 369,161,000 414,212,000 Cost of sales 87,842,000 89,122,000 281,960,000 284,178,000 Gross profit 38,945,000 38,954,000 87,201,000 130,034,000 Expenses: Selling, general and administrative 30,203,000 28,697,000 115,679,000 91,699,000 Research and development 4,425,000 5,746,000 12,492,000 20,401,000 Amortization of intangibles 5,044,000 5,289,000 16,680,000 15,866,000 Impairment of long-lived assets, including goodwill — — 79,555,000 — Proxy solicitation costs — — 2,682,000 — CEO transition costs 805,000 2,492,000 1,072,000 2,492,000 Loss (gain) on business divestiture, net — 200,000 — (2,013,000 ) 40,477,000 42,424,000 228,160,000 128,445,000 Operating (loss) income (1,532,000 ) (3,470,000 ) (140,959,000 ) 1,589,000 Other expenses (income): Interest expense 12,907,000 5,146,000 33,447,000 15,343,000 Interest (income) and other (509,000 ) 409,000 — 1,246,000 Write-off of deferred financing costs and debt discounts 3,479,000 — 4,891,000 — Change in fair value of warrants and derivatives (49,542,000 ) (6,439,000 ) (15,450,000 ) (6,439,000 ) Income (loss) before (benefit from) provision for income taxes 32,133,000 (2,586,000 ) (163,847,000 ) (8,561,000 ) (Benefit from) provision for income taxes (1,801,000 ) (5,381,000 ) (635,000 ) 639,000 Net income (loss) $ 33,934,000 2,795,000 $ (163,212,000 ) (9,200,000 ) Gain (loss) on extinguishment of convertible preferred stock — — 51,179,000 (13,640,000 ) Adjustments to reflect redemption value of convertible preferred stock: Convertible preferred stock issuance costs — (76,000 ) — (4,349,000 ) Dividends on convertible preferred stock (48,405,000 ) (3,759,000 ) (80,656,000 ) (7,643,000 ) Net loss attributable to common stockholders $ (14,471,000 ) (1,040,000 ) $ (192,689,000 ) (34,832,000 ) Net loss per common share: Basic $ (0.49 ) (0.04 ) $ (6.56 ) (1.21 ) Diluted $ (0.49 ) (0.04 ) $ (6.56 ) (1.21 ) Weighted average number of common shares outstanding – basic 29,399,000 28,854,000 29,395,000 28,753,000 Weighted average number of common and common equivalent shares outstanding – diluted 29,399,000 28,854,000 29,395,000 28,753,000 COMTECH TELECOMMUNICATIONS CORP. AND SUBSIDIARIES Consolidated Balance Sheets (Unaudited) April 30, 2025 July 31, 2024 Assets Current assets: Cash and cash equivalents $ 28,434,000 32,433,000 Accounts receivable, net 151,472,000 195,595,000 Inventories, net 77,691,000 93,136,000 Prepaid expenses and other current assets 17,063,000 15,387,000 Total current assets 274,660,000 336,551,000 Property, plant and equipment, net 44,462,000 47,328,000 Operating lease right-of-use assets, net 31,177,000 31,590,000 Goodwill 204,625,000 284,180,000 Intangibles with finite lives, net 178,148,000 194,828,000 Deferred financing costs, net 1,850,000 3,251,000 Other assets, net 16,222,000 14,706,000 Total assets $ 751,144,000 912,434,000 Liabilities, Convertible Preferred Stock and Stockholders' Equity Current liabilities: Accounts payable $ 27,188,000 42,477,000 Accrued expenses and other current liabilities 59,162,000 62,245,000 Current portion of credit facility, net 148,882,000 4,050,000 Current portion of subordinated credit facility, net 65,471,000 — Operating lease liabilities, current 7,589,000 7,869,000 Contract liabilities 64,386,000 65,834,000 Interest payable 5,000 1,072,000 Total current liabilities 372,683,000 183,547,000 Non-current portion of credit facility, net — 173,527,000 Operating lease liabilities, non-current 29,581,000 30,258,000 Income taxes payable, non-current 1,866,000 2,231,000 Deferred tax liability, net 5,763,000 6,193,000 Long-term contract liabilities 20,186,000 21,035,000 Warrant and derivative liabilities 31,564,000 5,254,000 Other liabilities 3,996,000 4,060,000 Total liabilities 465,639,000 426,105,000 Commitments and contingencies Convertible preferred stock, par value $0.10 per share; authorized and issued 178,181 shares at April 30, 2025 (redemption value of $199,661,000 which includes accrued dividends of $1,486,000) and authorized and issued 171,827 shares at July 31, 2024 (redemption value of $180,076,000, which includes accrued dividends of $1,341,000) 170,072,000 180,076,000 Stockholders' equity: Preferred stock, par value $0.10 per share; authorized and unissued 1,821,819 and 1,828,173 shares at April 30, 2025 and July 31, 2024, respectively — — Common stock, par value $0.10 per share; authorized 100,000,000 shares; issued 44,395,660 and 43,766,109 shares at April 30, 2025 and July 31, 2024, respectively 4,440,000 4,377,000 Additional paid-in capital 567,647,000 640,145,000 Retained (deficit) earnings (14,805,000 ) 103,580,000 557,282,000 748,102,000 Less: Treasury stock, at cost (15,033,317 shares at April 30, 2025 and July 31, 2024) (441,849,000 ) (441,849,000 ) Total stockholders' equity 115,433,000 306,253,000 Total liabilities, convertible preferred stock and stockholders' equity $ 751,144,000 912,434,000 Use of Non-GAAP Financial Measures To provide investors with additional information regarding the Company's financial results, this release contains "Non-GAAP financial measures" under the rules of the SEC. The Company's Adjusted EBITDA is a Non-GAAP measure that represents earnings (loss) before interest, income taxes, depreciation, amortization of intangibles, impairment of long-lived assets, including goodwill, amortization of cost to fulfill assets, amortization of stock-based compensation, CEO transition costs, change in fair value of warrants and derivatives, proxy solicitation costs, restructuring costs (non-inventory related), strategic emerging technology costs (for next-generation satellite technology), and write-off of deferred financing costs and debt discounts, and in the recent past, acquisition plan expenses, change in fair value of the convertible preferred stock purchase option liability, COVID-19 related costs, facility exit costs, strategic alternatives expenses and other and loss on business divestiture. These items, while periodically affecting its results, may vary significantly from period to period and may have a disproportionate effect in a given period, thereby affecting the comparability of results. Although closely aligned, the Company's definition of Adjusted EBITDA is different than EBITDA (as such term is defined in its Credit Facility) utilized for financial covenant calculations and also may differ from the definition of EBITDA or Adjusted EBITDA used by other companies and therefore may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA is also a measure frequently requested by its investors and analysts. The Company believes that investors and analysts may use Adjusted EBITDA, along with other information contained in its SEC filings, including GAAP measures, in assessing performance and comparability of results with other companies. Non-GAAP measures reflect the GAAP measures as reported, adjusted for certain items as described herein and also excludes the effects of the Company's outstanding convertible preferred stock. These Non-GAAP financial measures have limitations as an analytical tool as they exclude the financial impact of transactions necessary to conduct its business, such as the granting of equity compensation awards, and are not intended to be an alternative to financial measures prepared in accordance with GAAP. These measures are adjusted as described in the reconciliation of GAAP to Non-GAAP measures in the tables presented herein, but these adjustments should not be construed as an inference that all of these adjustments or costs are unusual, infrequent or non-recurring. Non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, financial measures determined in accordance with GAAP. Investors are advised to carefully review the GAAP financial results that are disclosed in the Company's SEC filings. As the Company has not provided future financial targets, there is no need to reconcile its business outlook to the most directly comparable GAAP measures. Furthermore, even if targets had been provided, items such as stock-based compensation, adjustments to the provision for income taxes, amortization of intangibles and interest expense, which are specific items that impact these measures, have not yet occurred, are out of the Company's control, or cannot be predicted. For example, quantification of stock-based compensation expense requires inputs such as the number of shares granted and market price that are not currently ascertainable. Accordingly, reconciliations to the Non-GAAP forward looking metrics would not be available without unreasonable effort and such unavailable reconciling items could significantly impact the Company's financial results. Three months ended April 30, Nine months ended April 30, Fiscal Year 2025 2024 2025 2024 2024 Reconciliation of GAAP Net Loss to Adjusted EBITDA: Net income (loss) $ 33,934,000 $ 2,795,000 $ (163,212,000 ) $ (9,200,000 ) $ (99,985,000 ) (Benefit from) provision for income taxes (1,801,000 ) (5,381,000 ) (635,000 ) 639,000 (295,000 ) Interest expense 12,907,000 5,146,000 33,447,000 15,343,000 22,153,000 Interest (income) and other (509,000 ) 409,000 — 1,246,000 678,000 Write-off of deferred financing costs and debt discounts 3,479,000 — 4,891,000 — 1,832,000 Change in fair value of warrants and derivatives (49,542,000 ) (6,439,000 ) (15,450,000 ) (6,439,000 ) (4,273,000 ) Amortization of stock-based compensation 1,195,000 404,000 2,520,000 5,238,000 6,096,000 Amortization of intangibles 5,044,000 5,289,000 16,680,000 15,866,000 21,154,000 Depreciation 2,726,000 3,121,000 8,400,000 9,073,000 12,159,000 Impairment of long-lived assets, including goodwill — — 79,555,000 — 64,525,000 Amortization of cost to fulfill assets — 240,000 261,000 720,000 960,000 Restructuring costs (non-inventory related) 4,338,000 2,755,000 14,222,000 9,197,000 12,470,000 Strategic emerging technology costs — 880,000 280,000 3,228,000 4,110,000 Proxy solicitation costs — — 2,682,000 — — CEO transition costs 805,000 2,492,000 1,072,000 2,492,000 2,916,000 Loss (gain) on business divestiture, net — 200,000 — (2,013,000 ) 1,199,000 Adjusted EBITDA $ 12,576,000 $ 11,911,000 $ (15,287,000 ) $ 45,390,000 $ 45,699,000 Reconciliations of GAAP consolidated operating income (loss), net income (loss) attributable to common stockholders and net income (loss) per diluted common share to the corresponding Non-GAAP measures are shown in the tables below (numbers and per share amounts in the tables may not foot due to rounding). Non-GAAP net income (loss) attributable to common stockholders and Non-GAAP net income (loss) per diluted common share reflect Non-GAAP provisions for income taxes based on year-to-date results, as adjusted for the Non-GAAP reconciling items included in the tables below. The Company evaluates its Non-GAAP effective income tax rate on an ongoing basis, and it can change from time to time. The Company's Non-GAAP effective income tax rate can differ materially from its GAAP effective income tax rate. April 30, 2025 Three months ended Nine months ended Operating(Loss)Income Net LossAttributableto CommonStockholders Net LossperDilutedCommonShare* OperatingLoss Net LossAttributableto CommonStockholders Net LossperDilutedCommonShare* Reconciliation of GAAP to Non-GAAP Earnings: GAAP measures, as reported $ (1,532,000 ) $ (14,471,000 ) $ (0.49 ) $ (140,959,000 ) $ (192,689,000 ) $ (6.56 ) Adjustments to reflect redemption value of convertible preferred stock — 48,405,000 1.65 — 80,656,000 2.74 Change in fair value of warrants and derivatives — (49,542,000 ) (1.68 ) — (15,450,000 ) (0.53 ) Gain on extinguishment of convertible preferred stock — — — — (51,179,000 ) (1.74 ) Impairment of long-lived assets, including goodwill — — — 79,555,000 79,555,000 2.71 Amortization of intangibles 5,044,000 4,807,000 0.16 16,680,000 15,968,000 0.54 Restructuring costs (non-inventory related) 4,338,000 4,061,000 0.14 14,222,000 13,582,000 0.46 Proxy solicitation costs — — — 2,682,000 2,523,000 0.09 Amortization of stock-based compensation 1,195,000 1,195,000 0.04 2,520,000 2,401,000 0.08 CEO transition costs 805,000 749,000 0.02 1,072,000 1,041,000 0.04 Strategic emerging technology costs — — — 280,000 266,000 0.01 Amortization of cost to fulfill assets — — — 261,000 261,000 0.01 Net discrete tax benefit — (442,000 ) (0.02 ) — (374,000 ) (0.01 ) Non-GAAP measures $ 9,850,000 $ (5,238,000 ) $ (0.18 ) $ (23,687,000 ) $ (63,439,000 ) $ (2.16 ) April 30, 2024 Three months ended Nine months ended Operating(Loss)Income Net (Loss)IncomeAttributableto CommonStockholders Net (Loss)IncomeperDilutedCommonShare* OperatingIncome Net (Loss)IncomeAttributableto CommonStockholders Net (Loss)IncomeperDilutedCommonShare* Reconciliation of GAAP to Non-GAAP Earnings: GAAP measures, as reported $ (3,470,000 ) $ (1,040,000 ) $ (0.04 ) $ 1,589,000 $ (34,832,000 ) $ (1.21 ) Loss on extinguishment of convertible preferred stock — — — — 13,640,000 0.47 Adjustments to reflect redemption value of convertible preferred stock — 3,835,000 0.13 — 11,992,000 0.41 Change in fair value of warrants and derivatives — (6,439,000 ) (0.22 ) — (6,439,000 ) (0.22 ) Amortization of intangibles 5,289,000 4,098,000 0.14 15,866,000 12,292,000 0.42 Restructuring costs 2,755,000 2,121,000 0.07 9,197,000 7,075,000 0.24 Amortization of stock-based compensation 404,000 323,000 0.01 5,238,000 4,089,000 0.14 Strategic emerging technology costs 880,000 678,000 0.02 3,228,000 2,486,000 0.09 CEO transition costs 2,492,000 1,919,000 0.07 2,492,000 1,919,000 0.07 Amortization of cost to fulfill assets 240,000 240,000 0.01 720,000 720,000 0.02 Loss (gain) on business divestiture, net 200,000 200,000 0.01 (2,013,000 ) (1,247,000 ) (0.04 ) Net discrete tax (benefit) expense — (229,000 ) (0.01 ) — 768,000 0.03 Non-GAAP measures $ 8,790,000 $ 5,706,000 $ 0.20 $ 36,317,000 $ 12,463,000 $ 0.43 Fiscal Year 2024 Operating(Loss)Income Net (Loss)IncomeAttributable toCommonStockholders Net (Loss)Incomeper DilutedCommonShare* Reconciliation of GAAP to Non-GAAP Earnings: GAAP measures, as reported $ (79,890,000 ) $ (135,440,000 ) $ (4.70 ) Loss on extinguishment of convertible preferred stock — 19,555,000 0.68 Adjustments to reflect redemption value of convertible preferred stock — 15,900,000 0.55 Change in fair value of warrants and derivatives — (4,273,000 ) (0.15 ) Impairment of long-lived assets, including goodwill 64,525,000 63,800,000 2.21 Amortization of intangibles 21,154,000 16,389,000 0.57 Restructuring costs 12,470,000 9,736,000 0.34 Amortization of stock-based compensation 6,096,000 4,797,000 0.17 Strategic emerging technology costs 4,110,000 3,795,000 0.13 CEO transition costs 2,916,000 2,245,000 0.08 Loss on business divestiture 1,199,000 1,199,000 0.04 Amortization of cost to fulfill assets 960,000 960,000 0.03 Net discrete tax expense — 4,136,000 0.14 Non-GAAP measures $ 33,540,000 $ 2,799,000 $ 0.10 * Per share amounts may not foot due to rounding. In addition, due to the GAAP net loss for the period, Non-GAAP EPS for the three and nine months ended April 30, 2024 and fiscal 2024 was computed using weighted average diluted shares outstanding of 28,936,000, 28,948,000 and 29,132,000, during the respective period. ECMTL View source version on Contacts Investor Relations Contact Maria Media Contacts Jamie Longacre Square Partnerscomtech@ 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
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Why ABM Industries Topped the Market Today
Not one, but two analysts upgraded their recommendations on the company. Both now believe investors should buy its shares. 10 stocks we like better than Abm Industries › ABM Industries (NYSE: ABM) stock kicked off the trading week on a high note Monday, closing more than 3.5% higher in price following two recommendation upgrades from analysts tracking the stock. That performance was more than good enough to eclipse the bellwether S&P 500 index, which essentially flatlined that day. Those pundit updates came one business day after ABM released its second quarter of fiscal 2025 earnings report. The company notched a minor beat on the consensus analyst estimate for revenue but missed slightly on that for profitability. Investors didn't greet this development warmly, and their immediate reaction as a group was to trade out of ABM's shares. The situation flipped on Monday, however, as the pair of pundits published new takes on the stock before market open. The first upgrade came from Baird's Andrew Wittman. He upgraded his recommendation on ABM to outperform (i.e., buy) from the previous neutral at a price target of $56 per share. According to reports, Wittman feels the sell-off was unjustified and leaves the stock attractively priced, especially since the company has been effective at securing new work. His peer Joshua Chan at UBS also became notably more bullish on ABM with a recommendation change to buy from neutral (in his case, tagging the stock with a $50 per share price target). According to reports, Chan was particularly encouraged by renewed growth in the company's core business and industry segment. Personally, I'd fall between those bearish investors selling off ABM stock Friday and the analysts upping their recommendations. Yes, the company has reported some encouraging developments of late, but it's neither a strongly growing business nor a high-yielding dividend payer. I'd probably look elsewhere for stocks with better potential. Before you buy stock in Abm Industries, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Abm Industries wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 173% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Abm Industries. The Motley Fool has a disclosure policy. Why ABM Industries Topped the Market Today was originally published by The Motley Fool 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
