Latest news with #AXL
Yahoo
a day ago
- Automotive
- Yahoo
When Will Strattec Security's Restructuring Begin to Show Results?
Strattec Security Corporation STRT, a leading global company that manufactures high-tech locking and access systems for cars, is retaining a larger share of the revenue it generates from each sale as profit. One of the most notable financial successes for STRT in the last reported quarter was the substantial improvement in profit margins, specifically as the gross margin surged 560 basis points year over year, reaching almost 16%. The factors that contributed to these positive developments include the company's initiatives to strategically raise prices on some of its products while enhancing its operations with favorable currency exchange rates. What is more encouraging is the rise in STRT's adjusted EBITDA margin, which jumped from 4.4% to almost 9% year over year. With EBITDA representing the core health of the company's business, like building and selling automotive security products, it is becoming more profitable over time. Most importantly, STRT has witnessed this growth while investing in hiring talent and operational restructuring in Mexico and Milwaukee. This initiative to increase its profits while investing in growth projects reflects STRT's smart financial management. It is to be noted that Strattec Securityexpects that the changes it made to improve efficiency, especially in Mexico and Milwaukee, will start showing their full benefits in the first quarter of fiscal 2026. Are AXL and BWA on a Path to Greater Operational Profitability? Both American Axle & Manufacturing Holdings, Inc. AXL and BorgWarner BWA are possibly on a path to greater operational profitability like STRT. AXL projects its adjusted EBITDA to be between $665 million and $745 million for full-year 2025 and positive free cash flow. Notably, AXL emphasized a focus on long-term profitable growth, especially with the Dowlais integration and restructuring to reduce fixed costs. For 2025, BWA aims to maintain a 9.6% to 10.2% operating margin and generate $650 million to $750 million in free cash flow, reaffirming its confidence in sustained profitable growth. Notably, BWA's business has become more profitable over time thanks to margin expansion, strategic exits and strong cost control. The company is performing well even in a challenging market. STRT's Price Performance, Valuation & Estimates Shares of STRT have jumped 147.3% over the past year, outpacing the 4.5% decline of the composite stocks belonging to the industry. Image Source: Zacks Investment Research From a valuation standpoint, STRT trades at a trailing 12-month price-to-earnings (P/E) of 10.86x. This is below the broader industry average of 25.22x. Image Source: Zacks Investment Research The Zacks Consensus Estimate for STRT's fiscal 2025 earnings hasn't witnessed any revisions over the past seven days. Image Source: Zacks Investment Research STRT currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BorgWarner Inc. (BWA) : Free Stock Analysis Report American Axle & Manufacturing Holdings, Inc. (AXL) : Free Stock Analysis Report Strattec Security Corporation (STRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Associated Press
4 days ago
- Business
- Associated Press
Upbit Lists Axelar's AXL Token in AXL/KRW Trading Pair
SEOUL, South Korea--(BUSINESS WIRE)--Jun 10, 2025-- Upbit, a South Korean cryptocurrency exchange, announced the listing of AXL, the native token of Axelar Network, in an AXL/KRW trading pair, effective June 10, 2025. The listing is detailed in Upbit's official notice. In its opening hours, the AXL-KRW pair recorded trading volume of over $220 million, ranking as the third largest trading pair on Upbit by 24-hour volume, surpassing BTC/KRW and XRP/KRW pairs, per CoinGecko data. The AXL token supports Axelar's blockchain interoperability network, facilitating cross-chain communication and asset transfers. AXL is used for transaction fees and governance within the network, enabling developers to build applications that connect multiple blockchain ecosystems. About Axelar Axelar is a decentralized network and development platform securely connecting the world's blockchains and financial infrastructure. Its secure, programmable multichain product stack enables seamless interoperability across Web3—critical for the next wave of institutional-grade use cases. With backing from top-tier investors including Dragonfly, Polychain, Binance Labs and Coinbase Ventures, Axelar is enabling the next generation of financial infrastructure: from multichain stablecoins to tokenized real-world assets (RWAs), built with security, compliance and enterprise scale in mind. Learn more at About Axelar Foundation Axelar Foundation is a nonprofit established to support the growth and adoption of the Axelar Network, a decentralized interoperability platform securely connecting the world's blockchains and financial infrastructure.. Learn more at View source version on CONTACT: Media Karla Vilhelem PR Director, MarketWaves [email protected] (754) 215-4315 KEYWORD: ASIA PACIFIC SOUTH KOREA INDUSTRY KEYWORD: SOFTWARE NETWORKS PROFESSIONAL SERVICES PHILANTHROPY BLOCKCHAIN TECHNOLOGY DIGITAL CASH MANAGEMENT/DIGITAL ASSETS SECURITY CRYPTOCURRENCY WEB3 FINANCE OTHER PHILANTHROPY SOURCE: Axelar Foundation Copyright Business Wire 2025. PUB: 06/10/2025 05:12 PM/DISC: 06/10/2025 05:10 PM
Business Wire
4 days ago
- Business
- Business Wire
Upbit Lists Axelar's AXL Token in AXL/KRW Trading Pair
SEOUL, South Korea--(BUSINESS WIRE)--Upbit, a South Korean cryptocurrency exchange, announced the listing of AXL, the native token of Axelar Network, in an AXL/KRW trading pair, effective June 10, 2025. The listing is detailed in Upbit's official notice. In its opening hours, the AXL-KRW pair recorded trading volume of over $220 million, ranking as the third largest trading pair on Upbit by 24-hour volume, surpassing BTC/KRW and XRP/KRW pairs, per CoinGecko data. The AXL token supports Axelar's blockchain interoperability network, facilitating cross-chain communication and asset transfers. AXL is used for transaction fees and governance within the network, enabling developers to build applications that connect multiple blockchain ecosystems. About Axelar Axelar is a decentralized network and development platform securely connecting the world's blockchains and financial infrastructure. Its secure, programmable multichain product stack enables seamless interoperability across Web3—critical for the next wave of institutional-grade use cases. With backing from top-tier investors including Dragonfly, Polychain, Binance Labs and Coinbase Ventures, Axelar is enabling the next generation of financial infrastructure: from multichain stablecoins to tokenized real-world assets (RWAs), built with security, compliance and enterprise scale in mind. Learn more at About Axelar Foundation Axelar Foundation is a nonprofit established to support the growth and adoption of the Axelar Network, a decentralized interoperability platform securely connecting the world's blockchains and financial infrastructure.. Learn more at
Yahoo
30-05-2025
- Business
- Yahoo
Arrow Announces Q1 2025 Interim Results and Provides Operational Update
Calgary, Alberta--(Newsfile Corp. - May 30, 2025) - Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL) ("Arrow" or the "Company"), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, is pleased to announce the filing of its Interim Condensed (unaudited) Consolidated Financial Statements and Management's Discussion and Analysis ("MD&A") for the three months ended March 31, 2025, which are available on SEDAR ( and will also be available shortly on Arrow's website at and to provide an update on operational activity. Q1 2025 Highlights: Recorded $19.5 million of total oil and natural gas revenue, net of royalties, representing a 36% increase when compared to the same period in 2024 (Q1 2024: $14.4 million). Adjusted EBITDA(1) of $11.5 million, a 15% increase when compared to Q1 2024 (Q1 2024: $10 million). Average corporate production of 4,085 boe/d (Q1 2024: 2,730 boe/d). Realized corporate oil operating netbacks(1) of $38.66/bbl. Cash position of $24.9 million at the end of Q1 2025. Generated operating cashflows of $14.4 million (Q1 2024: $8.6 million). Drilled two additional development wells (AB 2 and AB 3) in the Alberta Llanos field in the Tapir block. Net income of $2.7 million. Completed shooting 90 km2 of new seismic data on the southeast section of the Tapir Block to identify and confirm existing prospects. (1)Non-IFRS measures - see "Non-IFRS Measures" section within the MD&A Post Period End Highlights: Spud the first horizontal well, AB HZ4, in the Alberta Llanos field in the Tapir block. CN HZ 10 and CN 11 brought on production. Entered into a $20 million prepayment agreement with an integrated energy company. Upcoming Drilling The rig has spud the AB HZ 4 well, the first horizontal well in the Alberta Llanos field, which is expected to be on production in June. Thereafter, the Company expects to drill another horizontal well on the Alberta Llanos pad. Arrow has also secured a second rig that will mobilize to the Rio Cravo Este (RCE) field to drill up to four development wells in RCE and will then mobilize to the Carrizales Norte pad for further development drilling. The first RCE well is expected to spud in early June. Total budgeted capital expenditures planned for 2025 is approximately $50 million, net to Arrow, of which $11.4 million was spent in Q1 2025. The capital program is expected to result in production for 2025 being significantly higher than current levels. Prepayment Agreement The Company has entered into a two-year crude prepayment agreement with an integrated energy major to market its oil production in Colombia. In exchange for the exclusive right to market the Company's oil production, the agreement provides access of up to US$20 million in prepaid crude sales in year one with the limit reducing to US$15 million in prepaid sales in year two at attractive interest rates. As at May 1, the Company's cash balances were $24 million. Marshall Abbott, CEO of Arrow Exploration Corp., commented: "The first quarter of 2025 has been exciting for Arrow. The two wells, AB 2 and AB 3 at Alberta Llanos, have highlighted the potential for horizontal development in the Ubaque as well as follow up zones in the C7 and Guadalupe." "During the dry summer months in the Llanos basin, the Company has developed a new road system from the Carrizales Norte pad to the Capullo pad, the Mateguafa Oeste pad and the Mateguafa Attic pad. These pads will be utilized in the Company's planned drilling program for the remainder of 2025. The Company has secured a second rig which is expected to spud the first of four wells at RCE in early June." "The Company completed a 90 km2 3D seismic program in the southeast section of the Tapir block. The seismic has been processed and is now being analyzed to help develop prospects for the 2026 drilling program." "In the first quarter of 2025, the Company put in place additional water disposal infrastructure in the form of the conversion of AB 2 into a water disposal well and the workover of RCE 1 and CN 4. We are also working towards the conversion of CN 5 into a water disposal well. AB 2 should be in operation in late Q2 and CN 5 in Q3. The wells at Carrizales Norte and Alberta Llanos have begun to produce more water than previously modeled, resulting in curtailment of production. The new water infrastructure is expected to create excess disposal capacity to allow for increases in pump speed on currently curtailed production and for the next development stage of 2025 budgeted projects." "Arrow is pleased to announce that it has entered into a prepayment financing agreement with an integrated energy major. The two-year agreement provides Arrow with access to up to US$20 million in prepaid crude sales, with the limit reducing to US$15 million after the first year. This facility provides Arrow with significant financial flexibility, allowing Arrow to pursue growth opportunities from acquisitions to expanded capital programs. In conjunction with the financing, the integrated energy major, through its Colombian subsidiaries, will become the exclusive marketer for all of Arrow's oil production." "Both Brent and AECO prices have been impacted by the volatility experienced in early 2025 but the Company still has very healthy netbacks from its Colombian oil production. Arrow's 2025 capital budget is expected to be paid for by available cash and cash flow from operations. Our focus for the remainder of 2025 will be to grow production, continue development at the Carrizales Norte, Rio Cravo Este and Alberta Llanos fields and explore low risk new prospects in the Tapir block." FINANCIAL AND OPERATING HIGHLIGHTS (in United States dollars, except as otherwise noted) Three months ended March 31, 2025 Three months ended March 31, 2024Total natural gas and crude oil revenues, net of royalties 19,506,125 14,404,921 Funds flow from operations (1) 9,745,553 7,210,683Funds flow from operations (1) per share - Basic($) 0.03 0.03Diluted ($) 0.03 0.02Net income 2,663,764 3,176,727Net income per share - Basic ($) 0.01 0.01Diluted ($) 0.01 0.01Adjusted EBITDA (1) 11,531,548 10,021,139Weighted average shares outstanding - Basic ($) 285,864,348 285,864,348Diluted ($) 294,094,348 292,791,385Common shares end of period 285,864,348 285,864,348Capital expenditures 11,379,180 6,281,328Cash and cash equivalents 24,946,934 11,606,342Current Assets 30,288,808 20,779,081Current liabilities 19,252,474 11,258,252Adjusted working capital (1) 11,036,334 9,520,829Long-term portion of restricted cash (2) 129,849 237,814Total assets 90,532,063 64,579,940 Operating Natural gas and crude oil production, before royalties Natural gas (Mcf/d) 1,851 1,760Natural gas liquids (bbl/d) 6 4Crude oil (bbl/d) 3,770 2,432Total (boe/d) 4,085 2,730 Operating netbacks ($/boe) (1) Natural gas ($/Mcf) ($1.00 )($0.14 ) Crude oil ($/bbl) $ 42.29$ 56.27Total ($/boe) $ 38.66$ 50.10(1)Non-IFRS measures - see "Non-IFRS Measures" section of the MD&A(2)Long term restricted cash not included in working capital DISCUSSION OF OPERATING RESULTS During Q1 2025, the Company's production has decreased due to natural declines and increasing water cuts across its fields in the Tapir block. Production growth is expected to resume once the Company develops additional water handling capacity and executes on the 2025 budget. Nevertheless, the Company has maintained good operating results and healthy EBITDA. Average Production by Property Average Production Boe/d Q1 2025 FY 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Oso Pardo 126 153 154 180 113 166 Ombu (Capella) - - - - - - Rio Cravo Este (Tapir) 1,118 1,294 1,178 1,078 1,283 1,644 Carrizales Norte (Tapir) 2,321 1,897 3,153 2,784 991 622 Alberta Llanos 205 7 26 - - - Total Colombia 3,770 3,351 4,511 4,042 2,387 2,432 Fir, Alberta 105 81 88 82 77 78 Pepper, Alberta 210 110 139 - 82 220 TOTAL (Boe/d) 4,085 3,542 4,738 4,124 2,546 2,730 The Company's average production for the three months March 31, 2025 was 4,085 boe/d which consisted of crude oil production in Colombia of 3,770 bbl/d, natural gas production of 1,851 Mcf/d, and minor amounts of natural gas liquids. The Company's Q1 2025 production was 50% higher than its Q1 2024 production and 14% lower than Q4 2024 due to natural declines and water handling capability. DISCUSSION OF FINANCIAL RESULTS During Q1 2025 the Company experienced a reduction in both crude oil and gas prices, as summarized below: Three months ended March 31 2025 2024 ChangeBenchmark PricesAECO (C$/Mcf) $ 2.19$ 2.55 (14%)Brent ($/bbl) $ 71.47$ 84.67 (16%)West Texas Intermediate ($/bbl) $ 71.40$ 76.95 (7%)Realized Prices Natural gas, net of transportation ($/Mcf) $ 1.51$ 1.87 (19%)Natural gas liquids ($/bbl) $ 62.02$ 66.20 (61%)Crude oil, net of transportation ($/bbl) $ 64.70$ 73.31 (12%)Corporate average, net of transport ($/boe) $ 60.48$ 66.58 (9%)(1)Non-IFRS measure OPERATING NETBACKS The Company also continued to realize good oil operating netbacks, as summarized below: Three months ended March 312025 2024Natural Gas ($/Mcf) Revenue, net of transportation expense $ 1.51$ 1.87Royalties($0.06 )($0.10 ) Operating expenses($2.45 )($1.91 ) Natural gas operating netback(1)($1.00 )($0.14 ) Crude oil ($/bbl) Revenue, net of transportation expense $ 64.70$ 73.31Royalties($7.76 )($9.00 ) Operating expenses($14.65 )($8.04 ) Crude oil operating netback(1) $ 42.29$ 56.27Corporate ($/boe) Revenue, net of transportation expense $ 60.48$ 66.58Royalties($7.19 )($8.08 ) Operating expenses($14.63 )($8.40 ) Corporate operating netback(1) $ 38.66$ 50.10(1)Non-IFRS measure The operating netbacks of the Company have been affected in 2025 due to increasing water production from its Colombian assets and decreased crude oil prices. During Q1 2025, the Company incurred $11 million of capital expenditure, primarily in connection with the drilling of additional Alberta Llanos wells in the Tapir block. This tempo is expected to continue during the remainder of 2025, funded by cash on hand and cashflow. The Company also confirms that its audited financial statements and MD&A for the year ended 31 December 2024 were posted to UK shareholders on May 29, 2025 and are also available on its website. For further Information, contact: Arrow ExplorationMarshall Abbott, CEO +1 403 651 5995 Joe McFarlane, CFO +1 403 818 1033 Canaccord Genuity (Nominated Advisor and Joint Broker)Henry Fitzgerald-O'Connor +44 (0)20 7523 8000 James Asensio George Grainger Auctus Advisors (Joint Broker)Jonathan Wright +44 (0)7711 627449 Rupert Holdsworth Hunt Camarco (Financial PR)Owen Roberts +44 (0)20 3781 8331 Rebecca Waterworth About Arrow Exploration Corp. Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy S.A.) is a publicly traded company with a portfolio of premier Colombian oil assets that are underexploited, under-explored and offer high potential growth. The Company's business plan is to expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. Arrow's 50% interest in the Tapir Block is contingent on the assignment by Ecopetrol SA of such interest to Arrow. Arrow's seasoned team is led by a hands-on executive team supported by an experienced board. Arrow is listed on the AIM market of the London Stock Exchange and on TSX Venture Exchange under the symbol "AXL". Forward-looking Statements This news release contains certain statements or disclosures relating to Arrow that are based on the expectations of its management as well as assumptions made by and information currently available to Arrow which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Arrow anticipates or expects may, could or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words "continue", "expect", "opportunity", "plan", "potential" and "will" and similar expressions. The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of Arrow, including without limitation, Arrow's evaluation of the impacts of global pandemics, the potential of Arrow's Colombian and/or Canadian assets (or any of them individually), the prices of oil and/or natural gas, and Arrow's business plan to expand oil and gas production and achieve attractive potential operating margins. Arrow believes the expectations and assumptions reflected in the forward-looking statements are reasonable at this time, but no assurance can be given that these factors, expectations, and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Glossary Bbl/d or bop/d: Barrels per day$/Bbl: Dollars per barrelMcf/d: Thousand cubic feet of gas per dayMmcf/d: Million cubic feet of gas per day$/Mcf: Dollars per thousand cubic feet of gasMboe: Thousands of barrels of oil equivalentBoe/d: Barrels of oil equivalent per day$/Boe: Dollars per barrel of oil equivalentMMbbls: Million of barrels BOE's may be misleading particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 bblis based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). Non‐IFRS Measures The Company uses non-IFRS measures to evaluate its performance which are measures not defined in IFRS. Working capital, funds flow from operations, realized prices, operating netback, adjusted EBITDA, and net debt as presented do not have any standardized meaning prescribed by IFRS and therefore may not be comparable with the calculation of similar measures for other entities. The Company considers these measures as key measures to demonstrate its ability to generate the cash flow necessary to fund future growth through capital investment, and to repay its debt, as the case may be. These measures should not be considered as an alternative to, or more meaningful than net income (loss) or cash provided by operating activities or net loss and comprehensive loss as determined in accordance with IFRS as an indicator of the Company's performance. The Company's determination of these measures may not be comparable to that reported by other companies. NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. To view the source version of this press release, please visit Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
07-03-2025
- Business
- Yahoo
Canary Capital Files to Launch ETF Tracking Cross-Chain Protocol Axelar
Canary Capital, the digital asset-focused investment firm founded by former Valkyrie Funds co-founder Steven McClurg, is planning on launching an exchange-traded fund (ETF) tracking the price of Axelar (AXL). The firm submitted an S-1 filing with the Securities and Exchange Commission (SEC) on Wednesday, kicking off the process to launch such a fund. The hedge fund has previously filed paperwork for several other ETFs. Some of these have already been acknowledged by the Commission and await approval. "Axelar has one of the best dev teams in blockchain. Most viable protocols work with them on chain interoperability," said Steven McClurg, Chief Executive Officer at Canary Capital. "There is no question that AXL will be a top 20 token by market capitalization as the market discovers them. This is why we took the risk." AXL is the native token of the Alexar Network, a cross-chain protocol that connects other blockchains, enabling decentralized, secure cross-chain transactions. Unlike many interoperability solutions that rely on a small set of validators, Axelar operates on a proof-of-stake consensus model, allowing anyone to participate in its network, Sergey Gorbunov, co-founder of Axelar protocol, said in an interview with CoinDesk. The protocol, which has previously been integrated by J.P. Morgan's Kinexys platform, Microsoft's Azure marketplace as well as Uniswap and MetaMask, also announced the appointment of former Coinbase chief legal officer and Acting Comptroller of the Currency Brian Brooks to its newly formed Institutional Advisory Board. 'Brian comes with a pretty deep understanding of how do you actually make sure blockchain is adopted by traditional finance,' said Gorbunov. 'He understands what pain points these asset issuers have and he believes that decentralized interoperability is very essential to not introduce all of those issues in the process.' According to Gorbunov, stablecoins and tokenization are poised to be the next major trends for institutions in crypto, driven by regulatory developments and efficiency gains. A stablecoin bill expected in the coming months could open the door for more financial institutions to issue and integrate stablecoins, with firms like PayPal, BlackRock, and Robinhood already exploring their use for settlement to reduce costs. AXL currently trades at $0.36 and stands at a market cap of $340 million, according to CoinDesk data. The token reached an all-time high in March 2024 at $2.69 but has since dropped. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
