Latest news with #BLG
Yahoo
15-04-2025
- Business
- Yahoo
M&T Bank Corp (MTB) Q1 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
Net Interest Margin: Increased by 8 basis points to 3.66%. Share Repurchases: Executed $662 million in share repurchases. Tangible Book Value Per Share: Grew by 2%. Fee Income Growth: Increased by 5% year-over-year, or 10% excluding last year's BLG distribution. Net Charge-Offs: 34 basis points, below full-year expectations of 40 basis points. Diluted GAAP Earnings Per Share: $3.32, down from $3.86 in the prior quarter. Net Income: $584 million, compared to $681 million in the linked quarter. Return on Assets (ROA): 1.14%. Return on Common Equity (ROCE): 8.36%. Net Operating Income: $594 million, compared to $691 million in the linked quarter. Taxable-Equivalent Net Interest Income: $1.71 billion, a decrease of $33 million or 2% from the linked quarter. Average Loans and Leases: Decreased by $0.9 million to $134.8 billion. Average Total Deposits: Declined by $3.4 billion or 2% to $161.2 billion. Noninterest Income: $611 million, compared to $657 million in the linked quarter. Noninterest Expenses: $1.42 billion, an increase of $52 million from the prior quarter. Efficiency Ratio: 60.5%, compared to 56.8% in the linked quarter. Nonaccrual Loans: Decreased by $150 million or 9% to $1.5 billion. CET1 Ratio: Estimated at 11.5%, compared to 11.68% at the end of the fourth quarter. Warning! GuruFocus has detected 4 Warning Sign with MTB. Release Date: April 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. M&T Bank Corp (NYSE:MTB) reported a strong start to the year with an increase in net interest margin by 8 basis points, reflecting an efficient balance sheet and strong deposit franchise. The bank executed $662 million in share repurchases, contributing to a tangible book value per share growth of 2%. Asset quality improved with a $516 million reduction in commercial criticized balances and a $150 million reduction in nonaccrual loans. M&T Bank Corp (NYSE:MTB) received notable recognition, including 13 Greenwich Coalition awards and inclusion in Fortune's Most Admired and Most Innovative Company list. The bank's liquidity remains strong, with investment securities and cash totaling $57.9 billion, representing 28% of total assets. Diluted GAAP earnings per share decreased to $3.32 from $3.86 in the prior quarter, with net income falling to $584 million from $681 million. Average loans and leases decreased by $0.9 million, with lower CRE balances partially offsetting growth in other areas. Noninterest income declined by $46 million compared to the linked quarter, with a notable decrease in commercial mortgage banking revenues. Noninterest expenses increased by $52 million from the prior quarter, driven by seasonally higher compensation expenses. The allowance to loan ratio increased by 2 basis points to 1.63%, reflecting a modest deterioration in the macroeconomic forecast. Q: Can you provide insights on the net interest income (NII) and deposit flow activity? A: Daryl Bible, CFO, mentioned that while the guidance on deposits was lowered, they feel comfortable being at the higher end of the deposit range. They are experiencing good growth across commercial, small business, and consumer segments. Additional deposits will be used to pay off higher liabilities or increase liquidity. Q: What is the outlook for fee income, and was there a Bayview distribution in the first quarter? A: Daryl Bible confirmed there was no Bayview distribution in Q1 and it has been excluded from the year's forecast. Despite this, they expect fee businesses to grow significantly in the coming quarters due to strong performance across various segments, including trust, brokerage, and mortgage banking. Q: How are tariffs and economic uncertainties affecting customer behavior and C&I growth? A: Daryl Bible noted that consumer spending remains consistent, but business customers are pausing investments due to uncertainty. Despite this, M&T has seen growth in C&I, particularly in middle market, fund banking, and institutional sectors. Challenges are more pronounced in the CRE portfolio. Q: What is the impact of regulatory changes on M&T Bank, and are there any beneficial changes for regional banks? A: Daryl Bible stated that M&T Bank performs well regardless of the administration in DC. Current regulatory leadership appears more focused on economic growth, with potential easing in areas like the supplementary leverage ratio and stress testing, which could benefit regional banks. Q: How is M&T Bank managing its loan loss reserves amid a changing macroeconomic environment? A: Daryl Bible explained that they adjusted their macro outlook to account for potential economic downturns, increasing the weighting of scenarios with higher unemployment and lower GDP. This adjustment led to a slight increase in loan loss reserves, reflecting caution amid market uncertainties. 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
Yahoo
03-04-2025
- Entertainment
- Yahoo
Dramatists Play Service Announces Publication of Alex Edelman's Just for Us
NEW YORK, April 3, 2025 /PRNewswire/ -- Dramatists Play Service, the iconic play imprint of Broadway Licensing Global, proudly announces the official publication of Just for Us, the acclaimed solo play by writer-performer Alex Edelman. After premiering Off-Broadway to critical acclaim, Just for Us enjoyed multiple extended runs before transferring triumphantly to Broadway. Edelman's performance was captured in an HBO Original comedy special, which aired on Max in April 2024 and subsequently earned him a 2024 Emmy Award for Outstanding Writing for a Variety Special. In recognition of his singular live stage achievement, Edelman was also honored with a Special Tony Award in 2024. Renowned journalist and novelist Taffy Brodesser-Akner contributes an insightful foreword to the publication, contextualizing Edelman's work within the broader cultural conversation and highlighting the play's unique blend of humor, identity, and social commentary. "When I saw Just for Us, I had no idea what to expect, and I was blown away by the story, and Edelman's storytelling," says Ted Chapin, Chief Executive Officer of BLG. "It is a bold and daring event he depicts, finding humor and power in some very unexpected places. Having the show with DPS allows more people to find and enjoy the unique contemporary voice of Just for Us." Critics have lauded Just for Us for its seamless blend of humor and incisive social commentary. The New York Times hails it as "deeply moving and wildly funny," while The Guardian recognizes it as one of the "must-see solo performances" of the decade. "Alex Edelman's Just for Us is a masterclass in solo storytelling—sharp, timely, and deeply personal," continues Dan Markley, Chief Operating Officer of BLG. "To echo Ted, we're thrilled to bring this remarkable work to a wider audience through DPS." Founded in 1936, DPS represents many of the most celebrated works in American theatre and beyond. The DPS catalog features playwrights such as Arthur Miller, Lynn Nottage, and Tennessee Williams. Other acclaimed solo works in the DPS catalog include Latin History for Morons by John Leguizamo, Every Brilliant Thing by Duncan Macmillan with Jonny Donahoe, I Am My Own Wife by Doug Wright, and Becoming Dr. Ruth by Mark St. Germain. For more information or to purchase Just for Us, visit: ABOUT BROADWAY LICENSING GLOBAL Broadway Licensing Global and its family of imprints (Broadway Licensing, Dramatists Play Service, Playscripts, Stageworks, and Broadway on Demand) is a global leader in theatrical licensing and distribution. Representing an astonishing 40 Tony Awards® and 49 Pulitzer Prize-winning works, BLG titles epitomize the greatest collection of iconic authors, composers, lyricists, and underlying rights holders across the globe, including Katori Hall, Stephen King, Michael Korie, John Leguizamo, Alan Menken, Arthur Miller, Lynn Nottage, PigPen Theatre Co., Tom Stoppard, Paula Vogel, Tennessee Williams, Doug Wright, Don Zolidis, and Harry Potter Theatrical Productions. MEDIA CONTACT & ASSETS For Broadway Licensing Global:Hannah Thulin | Account Director, Interdependence | broadwaylicensinggroup@ View original content to download multimedia: SOURCE Broadway Licensing Global
