Latest news with #197
Yahoo
02-06-2025
- General
- Yahoo
Nevada Becomes the 21st State To Strengthen Donor Privacy Protections
On Thursday, Nevada Gov. Joe Lombardo (R) signed Assembly Bill 197 into law, prohibiting state agencies from demanding or releasing personal information of nonprofit supporters—actions that could potentially chill speech or violate the right to privacy. With the bill's passage, Nevada becomes the 21st state to strengthen First Amendment protections for donors, volunteers, and members of nonprofit organizations. The A.B. 197, which was cosponsored by Assemblymembers Shea Backus (D–Las Vegas) and Gregory Hafen (R–Pahrump), clarifies that state governmental entities cannot require nonprofit organizations that have applied for or received a 501(c) tax-exempt status from the IRS to disclose personal information of their supporters, including names, addresses, phone numbers, and donation details. Only certain exceptions apply, such as when such information is required under federal law or a court order, in which case the state must keep the individuals' personal information confidential. Anyone harmed by a violation of this law may bring a civil action against the state and seek damages. Nonprofit donor privacy is constitutionally protected under the First Amendment, as was first determined in the Supreme Court's unanimous National Association for the Advancement of Colored People v. Patterson ruling. The 1958 decision blocked the Alabama state government from forcing civil rights organizations to release personal, identifying information of supporters, thereby preventing threats, harassment, and intimidation of individuals for their beliefs. The right was reaffirmed and further clarified in the Court's 2021 Americans for Prosperity Foundation v. Bonta opinion, which struck down a mandate from former California Attorney General Kamala Harris requiring nonprofits to provide certain donor information to remain registered with the state. The Nevada bill passed through both chambers of the Legislature with an overwhelming majority and only one vote against it. Even more strikingly, nonprofits from across the political spectrum, such as the American Civil Liberties Union of Nevada, Americans for Prosperity, Nevada Right to Life, and Planned Parenthood Votes Nevada, supported the measure. "Americans are fed up with the abuse of their privacy and First Amendment rights. No one should face threats, doxing, or retaliation simply for supporting a nonprofit organization," said Heather Lauer, CEO of People United for Privacy Foundation, a national privacy rights organization, in a press release. With the passage of A.B. 197, Nevada joins 20 other states across the political spectrum that have passed similar legislation since 2018. In a time of hyper-partisanship and regular free speech violations—especially from the federal government—it's encouraging to see some state governments still honoring the constitutional protections enshrined in the First Amendment. The post Nevada Becomes the 21st State To Strengthen Donor Privacy Protections appeared first on
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Business Standard
22-05-2025
- Business
- Business Standard
ONGC Q4 results: Net profit falls 35% to ₹6,448 cr on lower oil, gas prices
State-owned Oil and Natural Gas Corporation (ONGC) reported a 35 per cent drop in its March quarter net profit as it realised lower oil prices on almost static output. Net profit stood at Rs 6,448 crore in January-March - the fourth quarter of FY25 (April 2024 to March 2025 ) - compared to Rs 9,869 crore in the same period last year, according to a company statement. The firm got $73.72 per barrel of crude oil that it produced and sold to refiners for processing into petrol and diesel in the fourth quarter, down from $80.81 per barrel a year back. Revenue was up 1 per cent at Rs 34,982 crore. ONGC produced 4.7 million tonnes of crude oil in the quarter, marginally lower than 4.714 million tonnes in January-March 2024. Production of natural gas, which is used to generate electricity, make fertiliser and turned into CNG as well as used for cooking in kitchens, was lower at 4.893 Billion Cubic Metres (BCM) in Q4 as opposed to 4.951 BCM. For the full fiscal (FY25), ONGC's net profit was down 12 per cent at Rs 35,610 crore on almost unchanged revenue of Rs 1.37 lakh crore. Oil price realisation was down 4.8 per cent at an average of $76.90 per barrel in the full financial year. Gas price in Q4 and the full fiscal year was unchanged at $6.5 per million British thermal unit. "The standalone crude oil production during FY25 was 18.558 million tonnes with an increase of 0.9 per cent over FY24. The standalone natural gas production was 19.654 BCM in FY25 as against 19.978 BCM in FY24," ONGC said. ONGC said it drilled 578 wells, the highest recorded in the past 35 years, comprising 109 exploratory and 469 development wells. The firm had drilled 544 wells in the previous 2023-24 fiscal year. The company is drilling more wells as the government has guaranteed a 10 per cent higher price for any gas produced from new wells. "ONGC invested around Rs 62,000 crore capex in FY25, including Rs 18,365 crore in OPaL, Rs 4,600 crore in ONGC Green Ltd for acquisition of PTC Energy and Ayana Renewables," the statement said adding apex in the previous 2023-24 was Rs 37,494 crore. Its overseas arm, ONGC Videsh Ltd, oil production saw a marginal increase of 1.2 per cent to 7.265 million tonnes in FY25 from 7.178 million tonnes a year back. "This positive performance was driven by strong contributions from the key operated/ jointly operated assets" in Colombia and in South Sudan, despite geopolitical headwinds, natural decline, and local issues, it said. Gas production output moderated to 3.013 BCM in FY25 from 3.340 BCM in FY24, primarily due to the end of production life in Block 06.1, Vietnam. OVL's turnover was down at Rs12,995 crore during FY25 from Rs13,197 crore in the previous year, mainly due to lower realised crude oil price ($70.23 per barrel as against $71.47 a barrel in FY'25). Net profit was also down at Rs 418 crore in FY25, as against Rs 490 crore (restated) in FY24. ONGC said it made a total of 9 discoveries (5 in onland and 4 in offshore) during FY 2024-25 in its operated acreages. "Eight hydrocarbon discoveries have been monetised during the FY 2024-25, including the two discoveries notified during the fiscal year of 2024-25.
Yahoo
20-02-2025
- Business
- Yahoo
Bic (BICEF) (Q4 2024) Earnings Call Highlights: Record EPS and Strategic Acquisition Drive Growth
Net Sales: EUR2,197 million for 2024, up 0.8% at constant currency, excluding Argentina. Q4 Net Sales: EUR517 million, up 4.4% at constant currency, excluding Argentina. Adjusted EBIT Margin: 15.6% for 2024, an increase of 90 basis points from last year. Adjusted EPS: EUR6.15 for 2024, an increase of 8% from last year. Free Cash Flow: EUR271 million for 2024. Net Cash Position: EUR189 million at the end of December 2024. Human Expression Net Sales: EUR814 million, up 0.7% at constant currency, excluding Argentina. Flame for Life Net Sales: EUR810 million, down 1.8% at constant currency, excluding Argentina. Blade Excellence Net Sales: EUR543 million, up 5% at constant currency, excluding Argentina. Dividend Proposal: EUR3.08, an increase of 8% from last year. CapEx: EUR87 million for 2024. Tangle Teezer Acquisition: Acquired for EUR201 million in December 2024. Warning! GuruFocus has detected 5 Warning Sign with BICEF. Release Date: February 19, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Bic (BICEF) achieved a solid adjusted EBIT margin of 15.6% in 2024, surpassing their long-term Horizon target of 15.5%. The company delivered adjusted EPS growth of 8%, reaching more than EUR6, a record high since 2017. Bic (BICEF) generated EUR271 million of free cash flow, reflecting strong financial discipline. The acquisition of Tangle Teezer is expected to support Bic (BICEF)'s Horizon strategy by providing exposure to a fast-growing and profitable business. Bic (BICEF) saw significant geographical expansion, with strong performance in Europe, Latin America, and the Middle East and Africa. Full year 2024 net sales growth was below expectations, with only a 0.8% increase at constant currency, excluding Argentina. The US market faced negative consumption trends, resulting in a mid-single digit market decline in value. The Human Expression division's growth was negatively impacted by the soft performance of Skin Creative and Digital Writing businesses. The Flame for Life division experienced a challenging year in North America due to a downturn in consumption trends. Bic (BICEF) faced higher raw material costs and unfavorable fixed cost absorption, impacting their overall financial performance. Q: Can you provide details on the net sales growth outlook, particularly considering the acquisition of Tangle Teezer? A: Chad Spooner, CFO, explained that the acquisition of Tangle Teezer is expected to add roughly 3 percentage points to growth. The core business is projected to grow between 1% to 3%. Growth will be driven by solid performance in Europe, EMEA, and Latin America, with a focus on distribution gains and innovation. Pricing will be more surgical and limited compared to previous years. Q: What are the key building blocks of your operating margin guidance for 2025? A: Chad Spooner, CFO, noted that while input cost inflation, particularly in raw materials, will negatively impact gross profit margins, there will be positive contributions from price and mix. Operating leverage will improve due to restructuring efforts. However, fixed cost absorption and country mix will present challenges. Q: What are your ambitions for the Human Expression business, especially regarding expansion into new markets? A: Gonzalve Bich, CEO, stated that while the MAI technologies acquisition is promising, it is still in the early stages. The focus is on leveraging underlying technology, and there are no immediate P&L impacts expected. The company remains committed to exploring new market opportunities. Q: How might US tariffs impact your business, and can you update us on your CEO succession plan? A: Gonzalve Bich, CEO, mentioned that the impact of US tariffs is still uncertain, but the company is prepared with scenario analyses. Regarding CEO succession, the process is progressing well, but no further details are available at this time. Q: Can you provide an update on the US lighter market and the impact of Asian imports? A: Chad Spooner, CFO, explained that the US lighter market was negatively impacted by Asian imports in early 2024 but stabilized mid-year. The market is now balanced, and no significant changes from Asian imports are expected in 2025. However, consumer softness due to inflationary pressures is anticipated to continue. 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
