UGI Reports Second Quarter Results and Increases Fiscal 2025 Guidance
EARNINGS CALL AND WEBCAST UGI Corporation will hold a live Internet Audio Webcast of its conference call to discuss the quarterly earnings and other current activities at 9:00 AM ET on Thursday, May 8, 2025. Interested parties may listen to the audio webcast both live and in replay on the Internet at https://www.ugicorp.com/investors/financial-reports/presentations or by visiting the company website https://www.ugicorp.com and clicking on Investors and then Presentations. A replay of the webcast will be available after the event through to 11:59 PM ET May 7, 2026.
"Looking ahead, our natural gas businesses continue to be our primary growth engine, with strategic infrastructure investments predominantly in the regulated utilities businesses, driving rate base expansion. At AmeriGas, the redesign of our business processes and operational practices are underway, as we prioritize enhanced service quality that leads to higher levels of customer retention. Internationally, our disciplined approach is generating strong cash flows that support our corporate priorities. Through focused capital allocation, infrastructure modernization, and strategic portfolio optimization, we are well positioned to create incremental value for our stakeholders."
"We delivered strong second quarter results with adjusted diluted EPS rising 12% year-over-year," said Bob Flexon, President and Chief Executive Officer. "Solid operational execution enabled us to effectively meet the higher demand from colder weather while maintaining cost efficiency. Our year-to-date results demonstrate the company's ability to meet evolving market conditions while maintaining our commitment to operational excellence and improving UGI's financial profile.
Available liquidity of approximately $1.9 billion as of March 31, 2025.
Year-to-date reportable segments earnings before interest expense and income taxes 1 ("EBIT") of $1,112 million compared to $1,073 million in the prior-year period.
Year-to-date GAAP diluted EPS of $3.93 and adjusted diluted EPS of $3.58 compared to GAAP diluted EPS of $2.74 and adjusted diluted EPS of $3.16 in the prior-year period.
Q2 GAAP diluted EPS of $2.19 and adjusted diluted EPS of $2.21 compared to GAAP diluted EPS of $2.30 and adjusted diluted EPS of $1.97 in the prior-year period.
VALLEY FORGE, Pa., May 07, 2025 --( BUSINESS WIRE )--UGI Corporation (NYSE: UGI) today reported financial results for the fiscal quarter ended March 31, 2025.
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ABOUT UGI
UGI Corporation (NYSE: UGI) is a distributor and marketer of energy products and services in the US and Europe. UGI offers safe, reliable, affordable, and sustainable energy solutions to customers through its subsidiaries, which provide natural gas transmission and distribution, electric generation and distribution, midstream services, propane distribution, renewable natural gas generation, distribution and marketing, and energy marketing services.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
USE OF NON-GAAP MEASURES
Management uses "adjusted net income attributable to UGI Corporation" and "adjusted diluted earnings per share," both of which are non-GAAP financial measures, when evaluating UGI's overall performance. Management believes that these non-GAAP measures provide meaningful information to investors about UGI's performance because they eliminate the impacts of (1) gains and losses on commodity and certain foreign currency derivative instruments not associated with current-period transactions and (2) other significant discrete items that can affect the comparison of period-over-period results. Volatility in net income attributable to UGI can occur as a result of gains and losses on commodity and certain foreign currency derivative instruments not associated with current-period transactions but included in earnings in accordance with U.S. generally accepted accounting principles ("GAAP").
Non-GAAP financial measures are not in accordance with, or an alternative to, GAAP and should be considered in addition to, and not as a substitute for, the comparable GAAP measures.
The tables on the last page of this press release reconcile net income attributable to UGI Corporation, the most directly comparable GAAP measure, to adjusted net income attributable to UGI Corporation, and diluted earnings per share, the most comparable GAAP measure, to adjusted diluted earnings per share, to reflect the adjustments referred to above.
1 Reportable segments' EBIT represents an aggregate of our reportable operating segment level EBIT, as determined in accordance with GAAP.
2 Because we are unable to predict certain potentially material items affecting diluted earnings per share on a GAAP basis, principally mark-to-market gains and losses on commodity and certain foreign currency derivative instruments, we cannot reconcile fiscal year 2025 adjusted diluted earnings per share, a non-GAAP measure, to diluted earnings per share, the most directly comparable GAAP measure, in reliance on the "unreasonable efforts" exception set forth in SEC rules.
USE OF FORWARD-LOOKING STATEMENTS
This press release contains statements, estimates and projections that are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended). Such statements use forward-looking words such as "believe," "plan," "anticipate," "continue," "estimate," "expect," "may," or other similar words and terms of similar meaning, although not all forward-looking statements contain such words. These statements discuss plans, strategies, events or developments that we expect or anticipate will or may occur in the future. Management believes that these are reasonable as of today's date only. Actual results may differ significantly because of risks and uncertainties that are difficult to predict and many of which are beyond management's control; accordingly, there is no assurance that results will be realized. You should read UGI's Annual Report on Form 10-K for a more extensive list of factors that could affect results. We undertake no obligation (and expressly disclaim any obligation) to update publicly any forward-looking statement, whether as a result of new information or future events, except as required by the federal securities laws.
SEGMENT RESULTS ($ in millions, except where otherwise indicated)
Utilities
For the fiscal quarter ended March 31,
2025
2024
(Decrease) Increase
Revenues
$
773
$
646
$
127
20
%
Total margin (a)
$
385
$
363
$
22
6
%
Operating and administrative expenses
$
103
$
97
$
6
6
%
Operating income
$
240
$
225
$
15
7
%
Earnings before interest expense and income taxes
$
241
$
226
$
15
7
%
Gas Utility system throughput - billions of cubic feet
Core market
53
45
8
18
%
Total
128
121
7
6
%
Gas Utility degree days—% colder (warmer) than normal (b)
0.3
%
(16.4
)%
Capital expenditures
$
100
$
91
$
9
10
%
Gas Utility service territory experienced temperatures that were 15% colder than the prior-year period.
Core market volumes increased 18% largely due to colder than prior-year weather.
Total margin increased $22 million primarily resulting from higher core market volumes and continued growth in core market customers, partially offset by the effects of the weather normalization adjustments.
Operating and administrative expenses increased $6 million primarily reflecting, among other things, higher maintenance expenses and higher uncollectible accounts expenses.
Operating income increased $15 million due to the higher total margin ($22 million), partially offset by higher operating and administrative expenses ($6 million) and increased depreciation expense ($3 million) from continued distribution system capital expenditure activity.
Midstream & Marketing
For the fiscal quarter ended March 31,
2025
2024
(Decrease) Increase
Revenues
$
587
$
483
$
104
22
%
Total margin (a)
$
202
$
200
$
2
1
%
Operating and administrative expenses
$
31
$
29
$
2
7
%
Operating income
$
151
$
151
$
—
—
%
Earnings before interest expense and income taxes
$
154
$
153
$
1
1
%
Heating degree days - % colder (warmer) than normal (b)
2.5
%
(13.4
)%
Capital expenditures
$
27
$
33
$
(6
)
(18
)%
Temperatures were 15% colder than the prior-year period.
Total margin increased $2 million largely due to higher margins from capacity management ($5 million) and gas marketing activities ($3 million), partially offset by lower midstream margins ($5 million) which arose mainly from lower natural gas gathering and processing activities and the absence of power generation margin associated with the sale of Hunlock Creek in September 2024.
Operating income was consistent with the prior-year period as higher total margin ($2 million) was offset by increased operating and administrative expenses ($2 million).
UGI International
For the fiscal quarter ended March 31,
2025
2024
(Decrease) Increase
Revenues
$
650
$
673
$
(23
)
(3
)%
Total margin (a)
$
302
$
305
$
(3
)
(1
)%
Operating and administrative expenses (a)
$
142
$
155
$
(13
)
(8
)%
Operating income
$
139
$
124
$
15
12
%
Earnings before interest expense and income taxes
$
143
$
131
$
12
9
%
LPG retail gallons sold (millions)
213
221
(8
)
(4
)%
Heating degree days - % (warmer) than normal (b)
(2.2
)%
(13.2
)%
Capital expenditures
$
17
$
19
$
(2
)
(11
)%
UGI International base-currency results are translated into U.S. dollars based upon exchange rates experienced during the reporting periods. Differences in these translation rates affect the comparison of line item amounts presented in the table above. The functional currency of a significant portion of our UGI International results is the euro and, to a much lesser extent, the British pound sterling. During the 2025 and 2024 three-month periods, the average unweighted euro-to-dollar translation rates were approximately $1.05 and $1.09, respectively, and the average unweighted British pound sterling-to-dollar translation rates were approximately $1.26 and $1.27, respectively.
Temperatures were 2% warmer than normal and 10% colder than the prior-year period.
Retail volumes were 4% lower than the prior-year period largely due to continued structural conservation and the absence of certain customers who previously converted from natural gas to LPG, substantially offset by the effects of colder weather.
Total margin decreased $3 million primarily due to lower LPG volumes and the translation effects of the weaker foreign currencies (~$9 million), substantially offset by higher LPG unit margins.
Operating and administrative expenses decreased $13 million reflecting lower personnel-related, maintenance and distribution expenses and the translation effects of the weaker foreign currencies (~$6 million).
Operating income increased $15 million reflecting lower operating and administrative expenses ($13 million) and higher other operating income, partially offset by lower total margin ($3 million).
Earnings before interest expense and income taxes increased $12 million due to the higher operating income, partially offset by lower realized gains on foreign currency exchange contracts ($3 million).
AmeriGas Propane
For the fiscal quarter ended March 31,
2025
2024
(Decrease) Increase
Revenues
$
848
$
795
$
53
7
%
Total margin (a)
$
446
$
433
$
13
3
%
Operating and administrative expenses
$
257
$
258
$
(1
)
—
%
Operating income / earnings before interest expense and income taxes
$
154
$
138
$
16
12
%
Retail gallons sold (millions)
269
261
8
3
%
Heating degree days - % colder (warmer) than normal (b)
2.8
%
(8.6
)%
Capital expenditures
$
16
$
24
$
(8
)
(33
)%
Temperatures were 3% colder than normal and 11% colder than the prior-year period.
Retail gallons increased 3% due to the impact of the colder weather, partially offset by the effect of net customer attrition.
Total margin increased $13 million due to higher LPG volumes and increased LPG unit margins ($7 million), partially offset by lower fee income ($4 million) primarily attributable to lower fuel recovery fee and tank rental income.
Operating income increased $16 million largely reflecting increased total margin ($13 million) and higher gain from asset sales ($4 million).
(a)
Total margin represents total revenue less total cost of sales. In the case of Utilities, total margin is also reduced by certain revenue-related taxes.
(b)
Deviation from average heating degree days is determined on a 10-year period utilizing volume-weighted weather data.
REPORT OF EARNINGS – UGI CORPORATION
(Millions of dollars, except per share)
(Unaudited)
Three Months Ended
March 31,
Six Months Ended
March 31,
Twelve Months Ended
March 31,
2025
2024
2025
2024
2025
2024
Revenues:
Utilities
$
773
$
646
$
1,258
$
1,139
$
1,717
$
1,627
Midstream & Marketing
587
483
954
877
1,446
1,417
UGI International
650
673
1,288
1,398
2,169
2,538
AmeriGas Propane
848
795
1,475
1,424
2,322
2,372
Corporate & Other (a)
(192
)
(130
)
(279
)
(250
)
(336
)
(303
)
Total revenues
$
2,666
$
2,467
$
4,696
$
4,588
$
7,318
$
7,651
Earnings before interest expense and income taxes:
Utilities
241
226
$
382
$
361
$
421
$
393
Midstream & Marketing
154
153
249
255
307
334
UGI International
143
131
253
248
328
288
AmeriGas Propane
154
138
228
209
161
229
Total reportable segments
692
648
1,112
1,073
1,217
1,244
Corporate & Other (a)
4
81
103
(124
)
(217
)
(779
)
Total earnings before interest expense and income taxes
696
729
1,215
949
1,000
465
Interest expense:
Utilities
(25
)
(24
)
(51
)
(47
)
(97
)
(87
)
Midstream & Marketing
(12
)
(9
)
(24
)
(20
)
(45
)
(43
)
UGI International
(11
)
(11
)
(21
)
(22
)
(43
)
(43
)
AmeriGas Propane
(37
)
(40
)
(70
)
(81
)
(145
)
(162
)
Corporate & Other, net (a)
(17
)
(16
)
(38
)
(30
)
(68
)
(59
)
Total interest expense
(102
)
(100
)
(204
)
(200
)
(398
)
(394
)
Income before income taxes
594
629
1,011
749
602
71
Income tax expense
(115
)
(133
)
(157
)
(159
)
(69
)
(139
)
Net income (loss) attributable to UGI Corporation
$
479
$
496
$
854
$
590
$
533
$
(68
)
Earnings (loss) per share attributable to UGI shareholders:
Basic
$
2.23
$
2.36
$
3.97
$
2.81
$
2.49
$
(0.32
)
Diluted
$
2.19
$
2.30
$
3.93
$
2.74
$
2.46
$
(0.32
)
Weighted Average common shares outstanding (thousands):
Basic
214,976
209,826
214,965
209,789
213,897
210,347
Diluted
218,944
215,245
217,331
215,393
216,319
210,347
Supplemental information:
Net income (loss) attributable to UGI Corporation:
Utilities
$
166
$
155
$
255
$
241
$
251
$
236
Midstream & Marketing
150
120
239
212
265
262
UGI International
93
91
193
174
281
209
AmeriGas Propane
25
37
(21
)
53
(97
)
2
Total reportable segments
434
403
666
680
700
709
Corporate & Other (a)
45
93
188
(90
)
(167
)
(777
)
Total net income (loss) attributable to UGI Corporation
$
479
$
496
$
854
$
590
$
533
$
(68
)
(a)
Corporate & Other includes specific items attributable to our reportable segments that are not included in profit measures used by our Chief Operating Decision Maker in assessing our reportable segments' performance or allocating resources. These specific items are shown in the section titled "Non-GAAP Financial Measures - Adjusted Net Income (Loss) Attributable to UGI and Adjusted Diluted Earnings Per Share" below. Corporate & Other also includes the elimination of certain intercompany transactions.
Non-GAAP Financial Measures - Adjusted Net Income Attributable to UGI and Adjusted Diluted Earnings Per Share.
The following tables reconcile net income attributable to UGI Corporation, the most directly comparable GAAP measure, to adjusted net income attributable to UGI Corporation, and reconcile diluted earnings per share, the most comparable GAAP measure, to adjusted diluted earnings per share, to reflect the adjustments referred to previously:
Three Months Ended
March 31,
Six Months Ended
March 31,
Twelve Months Ended
March 31,
2025
2024
2025
2024
2025
2024
Adjusted net income attributable to UGI Corporation (millions):
Net income (loss) attributable to UGI Corporation
$
479
$
496
$
854
$
590
$
533
$
(68
)
Net gains on commodity derivative instruments not associated with current-period transactions (net of tax of $15, $19, $29, $1, $45 and $11, respectively)
(5
)
(110
)
(69
)
(33
)
(96
)
(42
)
Unrealized losses (gains) on foreign currency derivative instruments (net of tax of $(3), $0, $3, $(6), $0 and $(3), respectively)
10
(1
)
(6
)
13
3
4
Loss associated with impairment of AmeriGas Propane goodwill (net of tax of $0, $0, $0, $0, $(3), and $4, respectively)
—
—
—
—
192
660
Loss on extinguishment of debt (net of tax of $0, $0, $0, $0, $(3) and $(2), respectively)
—
—
—
—
6
7
Impairment of equity method investments and assets (net of tax of $0, $(2), $0, $(2), $(1) and $(2), respectively)
—
5
—
5
25
5
Business transformation expenses (net of tax of $0, $0, $0, $0, $0, and $(2), respectively)
—
—
—
—
—
4
Costs associated with exit of the UGI International energy marketing business (net of tax of $0, $(1), $0, $(14), $(1) and $(17), respectively)
—
1
—
66
3
77
AmeriGas operations enhancement for growth project (net of tax of $0, $(1), $0, $(3), $(3) and $(6), respectively)
—
5
—
10
9
18
Restructuring costs (net of tax of $0, $(9), $0, $(10), $(10) and $(10), respectively)
—
27
—
30
26
30
Net gain on sale of UGI headquarters building (net of tax of $0, $0, $0, $0, $0 and $4, respectively)
—
—
—
—
—
(10
)
Loss on disposal of UGID (net of tax of $0, $0, $0, $0, $(11), and $0, respectively)
—
—
—
—
55
—
Total adjustments (1)
5
(73
)
(75
)
91
223
753
Adjusted net income attributable to UGI Corporation
$
484
$
423
$
779
$
681
$
756
$
685
Adjusted diluted earnings per share:
UGI Corporation earnings (loss) per share — diluted (2)
$
2.19
$
2.30
$
3.93
$
2.74
$
2.46
$
(0.32
)
Net gains on commodity derivative instruments not associated with current-period transactions
(0.03
)
(0.50
)
(0.32
)
(0.16
)
(0.44
)
(0.29
)
Unrealized losses (gains) on foreign currency derivative instruments
0.05
—
(0.03
)
0.06
0.01
0.02
Loss associated with impairment of AmeriGas Propane goodwill
—
—
—
—
0.89
3.14
Loss on extinguishment of debt
—
—
—
—
0.03
0.03
Impairment of equity method investments and assets
—
0.02
—
0.02
0.12
0.02
Business transformation expenses
—
—
—
—
—
0.02
Costs associated with the exit of the UGI International energy marketing business
—
—
—
0.31
0.01
0.37
AmeriGas operations enhancement for growth project
—
0.02
—
0.05
0.04
0.09
Restructuring costs
—
0.13
—
0.14
0.12
0.14
Net gain on sale of UGI headquarters building
—
—
—
—
—
(0.05
)
Loss on disposal of UGID
—
—
—
—
0.25
—
Total adjustments (2)
0.02
(0.33
)
(0.35
)
0.42
1.03
3.49
Adjusted diluted earnings per share (2)
$
2.21
$
1.97
$
3.58
$
3.16
$
3.49
$
3.17
(1)
Income taxes associated with pre-tax adjustments determined using statutory business unit tax rates.
(2)
The loss per share for the twelve months ended March 31, 2024, was determined excluding the effect of 5.76 million dilutive shares as the impact of such shares would have been antidilutive to the net loss for the period. Adjusted earnings per share for the twelve months ended March 31, 2024, was determined based upon fully diluted shares of 216.11 million.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250507091250/en/
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Tel: +1 610-337-1000
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Alvotech Forward Looking StatementsCertain statements in this communication may be considered 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements generally relate to future events or the future financial operating performance of Alvotech and may include, for example, Alvotech's expectations regarding competitive advantages, business prospects and opportunities including pipeline product development, future plans and intentions, results, level of activities, performance, goals or achievements or other future events, regulatory submissions, review and interactions, the potential approval and commercial launch of its product candidates, the timing of regulatory approval, and market launches. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'expect', 'intend', 'will', 'estimate', 'anticipate', 'believe', 'predict', 'potential', 'aim' or 'continue', or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Alvotech and its management, are inherently uncertain and are inherently subject to risks, variability, and contingencies, many of which are beyond Alvotech's control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the ability to develop or co-develop future products, including the proposed biosimilar to Keytruda®; (2) the ability to maintain stock exchange listing standards; (3) changes in applicable laws or regulations; (4) the possibility that Alvotech may be adversely affected by other economic, business, and/or competitive factors; (5) Alvotech's estimates of expenses and profitability; (6) Alvotech's ability to develop, manufacture and commercialize the products and product candidates in its pipeline; (7) actions of regulatory authorities, which may affect the initiation, timing and progress of clinical studies or future regulatory approvals or marketing authorizations; (8) the ability of Alvotech or its partners to respond to inspection findings and resolve deficiencies to the satisfaction of the regulators; (9) the ability of Alvotech or its partners to enroll and retain patients in clinical studies; (10) the ability of Alvotech or its partners to gain approval from regulators for planned clinical studies, study plans or sites; (11) the ability of Alvotech's partners to conduct, supervise and monitor existing and potential future clinical studies, which may impact development timelines and plans; (12) Alvotech's ability to obtain and maintain regulatory approval or authorizations of its products, including the timing or likelihood of expansion into additional markets or geographies; (13) the success of Alvotech's current and future collaborations, joint ventures, partnerships or licensing arrangements; (14) Alvotech's ability, and that of its commercial partners, to execute their commercialization strategy for approved products; (15) Alvotech's ability to manufacture sufficient commercial supply of its approved products; (16) the outcome of ongoing and future litigation regarding Alvotech's products and product candidates; (17) the impact of worsening macroeconomic conditions, including rising inflation and interest rates and general market conditions, conflicts in Ukraine, the Middle East and other global geopolitical tension, on the Company's business, financial position, strategy and anticipated milestones; and (18) other risks and uncertainties set forth in the sections entitled 'Risk Factors' and 'Cautionary Note Regarding Forward-Looking Statements' in documents that Alvotech may from time to time file or furnish with the SEC. There may be additional risks that Alvotech does not presently know or that Alvotech currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Alvotech does not undertake any duty to update these forward-looking statements or to inform the recipient of any matters of which any of them becomes aware of which may affect any matter referred to in this communication. Alvotech disclaims any and all liability for any loss or damage (whether foreseeable or not) suffered or incurred by any person or entity as a result of anything contained or omitted from this communication and such liability is expressly disclaimed. The recipient agrees that it shall not seek to sue or otherwise hold Alvotech or any of its directors, officers, employees, affiliates, agents, advisors, or representatives liable in any respect for the provision of this communication, the information contained in this communication, or the omission of any information from this communication. About Dr. Reddy's Laboratories Ltd:Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is a global pharmaceutical company headquartered in Hyderabad, India. Established in 1984, we are committed to providing access to affordable and innovative medicines. Driven by our purpose of 'Good Health Can't Wait', we offer a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Our major markets include – USA, India, Russia & CIS countries, China, Brazil, and Europe. As a company with a history of deep science that has led to several industry firsts, we continue to plan and invest in businesses of the future. As an early adopter of sustainability and ESG actions, we released our first Sustainability Report in 2004. Our current ESG goals aim to set the bar high in environmental stewardship; access and affordability for patients; diversity; and governance. Over the last 25 years, our Biologics team has developed into a fully integrated organization with robust capabilities in the development, manufacture and commercialization of a range of biosimilar products in oncology and immunology. We have a current portfolio of six commercial products marketed in India, with some products marketed in more than 30 other countries. In addition, we have several products in the pipeline in oncology and auto-immune diseases in various stages of development for global launches across developed as well as emerging markets. We are also ramping up manufacturing capacity to support our global expansion plans. In 2024, we launched our first biosimilar in the United Kingdom, Versavo® (biosimilar bevacizumab). This follows our launch of pegfilgrastim in the U.S and Europe through our partner. Our biosimilars business has a key role to play in driving both near-term and long-term growth. For more information, log on to: Dr. Reddy's DisclaimerThis press release may include statements of future expectations and other forward-looking statements that are based on the management's current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words 'may', 'will', 'should', 'expects', 'plans', 'intends', 'anticipates', 'believes', 'estimates', 'predicts', 'potential', or 'continue' and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency exchange rates, interest rates, persistency levels and frequency / severity of insured loss events, (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization, including related integration issues, and (vi) the susceptibility of our industry and the markets addressed by our, and our customers', products and services to economic downturns as a result of natural disasters, epidemics, pandemics or other widespread illness, including coronavirus (or COVID-19), and (vii) other risks and uncertainties identified in our public filings with the Securities and Exchange Commission, including those listed under the 'Risk Factors' and 'Forward-Looking Statements' sections of our Annual Report on Form 20-F for the year ended March 31, 2024. The company assumes no obligation to update any information contained herein. There can be no guarantee that the investigational or approved products described in this press release will be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time. Neither can there be any guarantee that, if approved, such generic or biosimilar products will be approved for all indications included in the reference product's label. Nor can there be any guarantee that such products will be commercially successful in the future. In particular, our expectations regarding such products could be affected by, among other things, the uncertainties inherent in research and development, including clinical trial results and additional analysis of existing clinical data; regulatory actions or delays or government regulation generally; the particular prescribing preferences of physicians and patients; competition in general, including potential approval of additional generic or biosimilar versions of such products. ALVOTECH CONTACTSBenedikt StefanssonVP Investor Relations and Global DR. REDDY'S CONTACTS Priya K Richa Periwal Corporate Communications Head of Investor Relations priyak@ richaperiwal@ in to access your portfolio
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Planet Labs PBC (PL) Q1 2026 Earnings Call Highlights: Strong Revenue Growth and First-Ever ...
Revenue: $66.3 million, representing approximately 10% year-over-year growth. Non-GAAP Gross Margin: 59%, up from 55% a year ago. Adjusted EBITDA Profit: $1.2 million, marking the second sequential quarter of adjusted EBITDA profitability. Cash Flow from Operating Activities: $17.3 million. Free Cash Flow: $8 million, the first-ever quarter of positive free cash flow. Backlog: Over $0.5 billion at the end of the quarter. Defense and Intelligence Sector Revenue Growth: Over 20% year-over-year during Q1. End-of-Period Customer Count: 919 customers, lower on a sequential basis. Net Dollar Retention Rate: 103%. Capital Expenditures: Approximately $9.3 million in Q1. Cash, Cash Equivalents, and Short-term Investments: Approximately $226.1 million at the end of the quarter. Remaining Performance Obligations (RPOs): Approximately $451.9 million, up 262% year-over-year. Guidance for Q2 Revenue: Expected to be between $65 million and $67 million. Guidance for Full Fiscal Year 2026 Revenue: Expected to be between $265 million and $280 million. Warning! GuruFocus has detected 3 Warning Signs with PL. Release Date: June 04, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Planet Labs PBC (NYSE:PL) reported $66.3 million in revenue for Q1 fiscal 2026, representing approximately 10% year-over-year growth. The company achieved a non-GAAP gross margin of 59%, up from 55% a year ago. Planet Labs PBC (NYSE:PL) reported its first-ever quarter of positive free cash flow at $8 million. The backlog grew to over $0.5 billion, indicating strong future growth potential. The defense and intelligence sector revenue grew over 20% year-over-year, driven by strong performance in core data and solutions business. Revenue from the civil government sector was down year-over-year due to the expiration of the NICFI contract. The commercial sector revenue was flat year-over-year, indicating challenges in achieving growth in this segment. North America and Latin American revenues were down year-over-year, impacted by agricultural contract adjustments. The end-of-period customer count decreased to 919, reflecting a focus on larger customers and a shift away from smaller ones. The company expects an adjusted EBITDA loss for Q2 fiscal 2026, indicating ongoing financial challenges. Q: Can you discuss the partnership with Anthropic and the type of data needed for AI models? A: Will Marshall, CEO, explained that the partnership with Anthropic focuses on fine-tuning AI models using Planet's satellite data, which is limited in current AI models. This collaboration aims to improve model accuracy and expand usability. Planet is also working with Google and others to enhance AI integration in their core products, which helps in expanding market potential. Q: How should we think about working capital and cash flow in the coming years? A: Ashley Fieglein Johnson, CFO, highlighted that working capital can be variable due to large contracts and satellite investments. The company aims for sustainable free cash flow within 24 months, focusing on efficient growth and high-margin business operations. Q: What drove the strong sequential growth in Q1, and how is demand shaping up? A: Ashley Fieglein Johnson noted that growth was driven by strong sales performance, increased customer engagement, and progress on the JSAT contract. Will Marshall added that geopolitical changes are increasing demand for Planet's data and satellite services, particularly in Europe and Asia. Q: Can you elaborate on the European Maritime deals and sector growth expectations? A: Will Marshall stated that the maritime domain awareness solution is driving demand due to geopolitical needs for security. Ashley Fieglein Johnson added that demand is strong in defense and intelligence sectors, with civil and commercial sectors showing focused growth. Q: How are budget cuts in NASA and potential risks affecting Planet Labs? A: Will Marshall mentioned that while NASA faces budget uncertainties, Planet's efficient solutions align with government priorities for cost-effective missions. Ashley Fieglein Johnson noted that usage patterns can be seasonal, and budget constraints may affect customer usage. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
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Argan Inc (AGX) Q1 2026 Earnings Call Highlights: Record Backlog and Strong Revenue Growth
Revenue: $193.7 million, a 23% increase year-over-year. Gross Margin: 19%, up from 11.4% in the previous year. Net Income: $22.6 million, or $1.60 per diluted share, compared to $7.9 million, or $0.58 per diluted share, last year. EBITDA: $30.3 million, representing 15.6% of revenue, up from $11.9 million, or 7.5% of revenue, last year. Backlog: Record $1.9 billion as of April 30, 2025. Cash and Investments: $546.5 million with net liquidity of $315 million and no debt. Dividend: Quarterly dividend of $0.375 per share. Share Repurchase: Approximately 100,000 shares repurchased for $12.9 million; program increased to $150 million. Power Industry Services Revenue: Increased 45% to $160 million, representing 83% of first-quarter revenues. Industrial Construction Services Revenue: Decreased to $29 million from $44 million, contributing 15% of first-quarter revenues. Telecommunications Infrastructure Services Revenue: Contributed 2% of first-quarter revenues. Release Date: June 04, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Argan Inc (NYSE:AGX) reported a 23% increase in consolidated revenue to $193.7 million for the first quarter of fiscal 2026. The company achieved a gross margin of 19%, reflecting strong execution and a favorable mix of projects. Argan Inc (NYSE:AGX) reported a record backlog of $1.9 billion as of April 30, 2025, indicating strong future project opportunities. The company's balance sheet remains robust with $546.5 million in cash and investments, and no debt. Argan Inc (NYSE:AGX) increased its quarterly dividend to $0.375 per share and expanded its share repurchase program to $150 million, demonstrating a commitment to returning capital to shareholders. The Industrial Construction Services segment experienced a revenue decrease to $29 million from $44 million in the first quarter of fiscal 2025 due to project timing. The Telecommunications Infrastructure Services segment contributed only 2% of first-quarter revenues, indicating limited growth in this area. Gross margins for the Industrial Construction Services segment decreased to 10.8% from 13.3% in the previous year. The timeline for completing gas-fired power plant projects has extended from 2.5-3 years to 3-4 years, primarily due to supply chain issues. Selling, general, and administrative expenses increased to $12.5 million, although they decreased as a percentage of revenues. Q: Can you provide an update on the pipeline visibility for the rest of the year, especially after the Sandow Lakes project award? A: The pipeline remains strong, and we are optimistic about adding to our backlog, which was $1.9 billion as of April 30. We expect to add several power industrial jobs over the next six months, potentially pushing our backlog significantly over $2 billion. However, project start times are not always within our control, but demand is expected to remain strong for the next decade. Q: What is the potential for backlog growth given your current capacity and project pipeline? A: We anticipate our backlog to grow significantly over $2 billion. We have the capacity to handle multiple projects, including renewable and gas jobs. We recently started several new projects, such as a 700-megawatt power plant, and expect to add more, which should increase our backlog substantially. Q: How does the outlook for the Industrial Business segment look, and what are the revenue trends? A: We anticipated a slight contraction in the past quarter, but we are seeing strong interest in TRC due to increased onshoring of US manufacturing. The TRC backlog increased to $91 million, and we expect revenues to increase significantly over the next several quarters. Q: Can you discuss the recent gross margins and the factors contributing to their increase? A: The recent gross margins reflect strong execution and a changing mix of projects and contract types. We are in a competitive but favorable market and expect to exceed last year's margin profile as we progress through the year. Q: Is the extended project timeline from 2.5-3 years to 3-4 years a permanent change, and what are the contributing factors? A: The extended timeline is primarily supply chain driven. If supply chain issues are resolved, there will be a push for quicker project completion. Currently, the timeline is typically 3-4 years, although smaller jobs may be shorter. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
