Latest news with #Dividend
Yahoo
22-05-2025
- Business
- Yahoo
Golden Ocean Group Ltd (GOGL) Q1 2025 Earnings Call Highlights: Navigating Challenges with ...
Adjusted EBITDA: $12.7 million in Q1 2025, down from $69.9 million in Q4 2024. Net Loss: $44.1 million in Q1 2025, compared to a net income of $39 million in Q4 2024. Loss Per Share: $0.22 in Q1 2025, compared to earnings per share of $0.20 in Q4 2024. Net TCE Rates: $16,800 per day for Capesizes, $10,400 per day for Panamax vessels, and fleet-wide net TCE of $14,400 per day in Q1 2025. Dry Docking Costs: $38.3 million for 380 dry docking days in Q1 2025. Net Revenue: $114.7 million in Q1 2025, down from $174.9 million in Q4 2024. Operating Expenses: $95.3 million in Q1 2025, compared to $95.6 million in Q4 2024. Cash Flow from Operations: Negative $3.3 million in Q1 2025, down from $71.7 million in Q4 2024. Dividend Declared: $0.05 per share for Q1 2025. Cash and Cash Equivalents: $112.6 million at the end of Q1 2025. Debt and Finance Lease Liabilities: $1.44 billion at the end of Q1 2025. Book Equity: $1.8 billion with a total equity to total assets ratio of approximately 54% at the end of Q1 2025. Warning! GuruFocus has detected 5 Warning Signs with GOGL. Release Date: May 21, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Golden Ocean Group Ltd (NASDAQ:GOGL) declared a dividend of $0.05 per share for the first quarter of 2025. The company has entered into agreements for the sale of two older Kamsarmax vessels at attractive prices, aligning with their fleet renewal strategy. For Q2, Golden Ocean Group Ltd (NASDAQ:GOGL) has fixed a net TCE of about $19,000 per day for 69% of Capesize days and about $11,100 per day for 81% of Panamax days, indicating improved earnings potential. The company has $100 million of undrawn available credit lines at quarter end, providing financial flexibility. Golden Ocean Group Ltd (NASDAQ:GOGL) is benefiting from infrastructure improvements in Brazil, which have positively impacted export volumes despite adverse weather conditions. Golden Ocean Group Ltd (NASDAQ:GOGL) recorded a net loss of $44.1 million and a loss per share of $0.22 in Q1 2025. The company's adjusted EBITDA significantly decreased to $12.7 million in Q1 2025 from $69.9 million in Q4 2024. The fleet-wide net TCE rate decreased to $14,400 per day in Q1 2025 from $20,800 in Q4 2024. Golden Ocean Group Ltd (NASDAQ:GOGL) incurred high dry-docking costs of $38.3 million for 380 dry docking days in Q1 2025. Cash flow from operations was negative $3.3 million in Q1 2025, down from $71.7 million in Q4 2024. Q: Can you provide specific dates for the contemplated merger between Golden Ocean and CMB Tech? A: Peder Simonsen, CFO of Golden Ocean Management AS, stated that it is difficult to provide specific dates as there are many work streams involved in the process. The company is working according to the plan announced in the press release. Q: There seems to be a detachment between market prices and the agreed 0.95 exchange ratio for the merger. How should this be interpreted? A: Peder Simonsen explained that the pricing is influenced by various factors, including stock liquidity, and left the interpretation to market analysts. Q: What are the near-term market expectations, and are there any significant catalysts expected before Simandou volumes come online? A: Peder Simonsen noted recent disruptions in Guinea and Peru affecting market sentiment but expects volumes to pick up in line with seasonality. He remains positive for the second half of the year, anticipating healthy volumes for Capesize vessels. Q: Given the current rates and asset prices, is there an expectation for asset prices to decrease if rates remain at mid-teen levels? A: Peder Simonsen highlighted that newbuilding prices are high due to supportive long-term fundamentals and limited yard capacity. He does not expect secondhand values to decrease and believes that positive demand fundamentals will eventually impact the freight market. Q: How do you view the current market conditions compared to last year, and what are the expectations for the rest of the year? A: Peder Simonsen acknowledged that Q1 was more in line with seasonality compared to an unusually good Q1 last year. He expects miners to ramp up exports significantly in the second half, supported by constrained shipyard capacity and a positive outlook for large vessels. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Time of India
14-05-2025
- Business
- Time of India
Auto Components, Textiles, REITs: Where green portfolio sees dividend-driven value, says Sreeram Ramdas
With that being said, where the investment opportunities are scarce, we sit on cash. In fact during September 2024, we were sitting on 54% cash as the valuations were stretched and mostly uninvestable. Green Portfolio's Dividend Yield Fund achieved a 17.3% net return in FY25, driven by diesel engine manufacturers and REIT investments, despite tariff tensions. The fund strategically avoids PSUs, focusing on private companies with high growth potential in the small and mid-cap space. Looking ahead to FY26, the fund is optimistic about manufacturing-led growth, particularly in auto components, chemicals, and textiles. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Despite a volatile global backdrop and heightened tariff tensions, Green Portfolio 's Dividend Yield Fund delivered a resilient 17.3% net return in this edition of ETMarkets PMS Talk, Sreeram Ramdas , Vice President at Green Portfolio, breaks down what powered the fund's performance—from a standout diesel engine manufacturer to a strategic allocation in Embassy also explains why the fund avoids PSUs, maintains a long-term lens for value discovery, and sits on cash when valuations run a distinct strategy blending dividend income and capital appreciation, the fund is now betting big on manufacturing-led growth in FY26. Edited Excerpts –A) We did tremendously well last year. In the first 9 months of FY25, the portfolio net returns were precisely 25%.Post that, thanks to the tariff war and a sea of uncertainty, our returns diminished in all, we closed FY25 at 17.3% net returns after fees. These performance numbers only account for the capital appreciation and don't include the dividend of the returns were driven by a company that manufactures diesel engines for tractors, followed by returns from a small allocation we had to Embassy REIT. On the flipside, our allocation towards textiles and chemical players weighed down the returns.A) If someone had invested INR 1 crore, they would have made a net gain of 17l. However, we don't encourage a short-term investing mentality. For all I know, the performance could have gone south in 1 believe 1-year returns are a matter of luck rather than predicated on the skill to analyse future a fundamental thesis to play out and the stock prices to reflect that fundamental performance rightly, it takes a minimum of 2.5 years.A) Most importantly, we keep zero exposure to PSU. The dividend yield chaired by PSU's is usually north of 4%, and yet we don't touch this during the PSU rally in 2023, we were averse to investing in PSU as we prefer private players, given their intention to report profits above all we invest in companies that have a dividend yield greater than 3% while having a future growth outlook of greater than 20%. - Majorly, dividend-oriented funds are focused on investing in the large-cap space, while we focus on the small and mid-cap space, where the opportunities are niche.A) We get asked this question a lot. It's usually the large conglomerates with infallibly stable cash flows that declare dividends to their fund philosophy revolves around finding companies with a 3%+ dividend yield while they are moderately spending on capex, have low debt, and have a sustainable business model, all the while being in the small and mid-cap aren't just focused on investing in high dividend-yielding stocks; if that were the case, we would have had a 100% allocation towards PSU. We are focused on capital appreciation along with dividend income for the shareholders.A) There are a host of variables we consider while investing. The most important of them being corporate governance – no major related party transactions, management has sufficient experience and interest in the business, absence of past accounting malpractices, the business model should be sustainable, and the company should have a competitive edge – this need not be in tech or capacity – it can include longstanding purchase agreements with the buyers, strong distribution channels that can't be easily replicated, or difficult-to-obtain growth outlook based on our research should be upwards of 20% CAGR – revenue and profits. All these factors are beyond the fact that the company should be a dividend-paying paying.A) There's a 10% allocation in the model portfolio to Shree Digvijay Cements and Bhansali Engineering. Expanding on Shree Digvijay, we believe the new capex of INR 250 crore for the cement and clinker plant will improve the business prospects once the plants are up and an allocation towards commodities, auto component players, textiles, and a small allocation towards banking keeps our portfolio diversified across sectors while being invested in companies with high growth prospects.A) The standard deviation is slightly higher than the BSE 500 benchmark. We are frankly not focused on managing the impact of daily price action on the portfolio – if that were the case, it would be difficult for us to stay focused on the company are obsessed with how the company is performing/will perform rather than the daily price action. Given that we are entering at the right valuations, the fundamental performance should reflect on the respective stock prices in a matter of 2.5 - 3 that being said, where the investment opportunities are scarce, we sit on cash. In fact during September 2024, we were sitting on 54% cash as the valuations were stretched and mostly uninvestable.A) FY26 will be a robust year for our portfolio. Beyond the India-Pakistan and US tariff uncertainty, manufacturing firms we speak to are doing well. Many of the companies we speak to are operating at 80% capacity FTA with the UK after decades of negotiation, the soon-to-materialise trade agreements with the US and EU, and the export demand switch from China are some of the factors that will drive the earnings and subsequently our portfolio returns. All in all, we are looking beyond these short-term geopolitical situations.A) We are inclined towards auto component players, chemicals, and textiles in the dividend yield fund. There's a small allocation towards REIT in order to enhance the dividend yield in the overall summary, our major allocation is towards manufacturing. Given the trade tensions and simultaneous trade negotiations, the export market will open up drastically for manufacturers. The weightage on banking and IT has always been low for us.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Yahoo
10-05-2025
- Business
- Yahoo
Main Street Capital Corp (MAIN) Q1 2025 Earnings Call Highlights: Record NAV and Strong ...
Annualized Return on Equity: 16.5%. Net Asset Value (NAV) per Share: Record high for the 11th consecutive quarter. Total Investment Income: $137 million, a 4.1% increase over the first quarter of 2024. Dividend Income: Increased by $13.2 million compared to a year ago. Net Fair Value Appreciation: $33.6 million. Investments on Nonaccrual Status: 1.7% of the total investment portfolio at fair value. Net Asset Value (NAV) per Share: $32.03, an increase of $0.38 from the previous quarter. Regulatory Debt-to-Equity Leverage: 0.67 times. Liquidity: In excess of $1.3 billion. Net Increase in Lower Middle Market Investments: $57 million. Net Increase in Private Loan Investments: $26 million. Supplemental Dividend: $0.30 per share payable in June. Regular Monthly Dividends for Q4 2025: Increased to $0.255 per share. NII per Share: $1.07 for the quarter. Warning! GuruFocus has detected 6 Warning Signs with BSP:INTB3. High Yield Dividend Stocks in Gurus' Portfolio This Powerful Chart Made Peter Lynch 29% A Year For 13 Years How to calculate the intrinsic value of a stock? Release Date: May 09, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Main Street Capital Corp (NYSE:MAIN) reported an annualized return on equity of 16.5% for the first quarter. The company achieved a new record for net asset value (NAV) per share for the 11th consecutive quarter. Main Street Capital Corp (NYSE:MAIN) declared a supplemental dividend of $0.30 per share, marking the 15th consecutive quarterly supplemental dividend. The company successfully exited its investment in Heritage Vet Partners, realizing a gain of over $55 million. Main Street Capital Corp (NYSE:MAIN) maintains strong liquidity with over $1.3 billion in cash and credit availability. Interest income decreased by $2.1 million from the previous year, primarily due to an increase in investments on nonaccrual status. Operating expenses increased by $5.4 million over the first quarter of 2024, driven by higher interest and compensation expenses. The company recorded net realized losses of $29.5 million in the quarter, primarily from the exit or restructure of underperforming investments. Investments on nonaccrual status comprised 1.7% of the total investment portfolio at fair value. Main Street Capital Corp (NYSE:MAIN) anticipates potential headwinds on top-line earnings due to possible decreases in floating market rates and tariff impacts. Q: Can you provide more details on the tariff exposure within your portfolio companies? A: Dwayne Hyzak, CEO, explained that most lower middle market companies are U.S.-based with limited exposure to tariffs. Approximately a high single-digit percentage of the portfolio has meaningful exposure, primarily from companies importing finished goods. Another 10-20% has some level of exposure due to the global nature of business. In the private loan portfolio, the risk is similar, with a few companies having direct exposure, some of which are already on nonaccrual status. Overall, the exposure is considered manageable, with management teams actively mitigating risks. Q: Why is the private loan pipeline considered average despite a muted M&A environment? A: Dwayne Hyzak, CEO, noted that existing portfolio companies are seeking additional loans for growth, and new investment opportunities are still attractive. Nicholas Meserve, Managing Director, added that while M&A is muted, there are fewer repayments, and the pipeline includes both new deals and add-ons. The uncertainty lies in whether these transactions will close amid tariff concerns. Q: Is there concern about the variability of dividend income from portfolio companies? A: Dwayne Hyzak, CEO, acknowledged the variability but noted that many lower middle market companies are performing well, with conservative capital structures allowing for significant dividend payouts. While economic downturns could impact this income, current performance and dialogue with companies suggest continued strong dividend income in the near term. Q: Are there more significant realizations expected in the pipeline following the recent $55 million gain? A: Dwayne Hyzak, CEO, indicated that while there will always be some level of activity, the recent gains from exits like Heritage Vet Partners and Promier were the primary transactions anticipated. Future activity is expected to return to a more ordinary course. Q: Does the current economic environment create opportunities for Main Street Capital given its long holding periods? A: Dwayne Hyzak, CEO, affirmed that Main Street Capital aims to maintain a conservative capital structure and significant liquidity to remain active in all market conditions. The company seeks to partner with best-in-class management teams, and past experiences during economic downturns have led to successful investments. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 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
Zawya
02-04-2025
- Business
- Zawya
Agility reports FY 2024 net profit of KD63mln
RELATED TOPICS EARNINGS RELATED COMPANIES DB Schenker Rail Dsv TriStar Gold FY 2024 (Million KD) FY 2023 (Million KD) Variance (%) Revenue 1,528 1,353 13.0% Net Revenue 975 818 19.2% EBITDA 277 257 7.8% EBIT 175 166 5.8% Net Profit 63 84 -25.0% EPS (fils) 25.07 33.46 -25.1% Numbers above are rounded. KUWAIT – Agility, a supply chain services, infrastructure and innovation company, today reported full year net income of KD 63 million equivalent to 25.07 fils per share. EBITDA stood at KD 277 million and revenue of KD 1,528 million. The 2024 figures include the impact of the In-Kind Dividend Distribution in the form of shares in Agility Global PLC, a 51%-owned subsidiary now listed on the Abu Dhabi Securities Exchange (ADX), has led to an increase in minority interest, thus periods are not comparable. Included in 2024 full year results is a one-off net impact of KD 43 million resulting from legal claims for and against the company. Performance update 'With the listing of Agility global on ADX, we sought to unlock additional value for Agility shareholders, this has also given our largest business units exposure and access to a broader international investment community,' said Agility Vice Chairman Tarek Sultan. For 2024, Agility delivered strong results as its operating entities continued to expand and capitalize on new opportunities. 'Agility Global, our primary subsidiary, reported EBIT growth of 21.4%, driven by the strong performance of its three largest businesses: Menzies, Tristar, and Agility Logistics Parks (ALP). Menzies experienced growth in new operations across Europe and Asia, Tristar continued its positive trajectory, and ALP expanded its footprint in Saudi Arabia. On the investment front, DSV announced its acquisition of Schenker which will make DSV the world's largest freight forwarder and logistics provider. In Kuwait, the businesses remain focused on executing their growth strategies and identifying opportunities to maximize value and returns for shareholders. GCS is focused on growth and driving efficiency. MRC was the successful bidder to develop and operate Metal Reclamation Facility (MRF) to reclaim metals from the spent catalyst from KNPC & KIPIC refineries., Sultan said. Key developments in Kuwait included the S2/South Village. ALP Kuwait is developing S2, or South Village, a multi-purpose commercial, logistics and crafts/services zone serving Sabah Al-Ahmad City, Kuwait's next-generation city. Development on S2 project is progressing and is expected to deliver its first units during 2025. End of Year Dividends Recommendation Agility's board is recommending a cash dividend of 10%, equivalent to 10 fils per share, for the year 2024. This recommendation is subject to the approval of the General Assembly. Outlook 'We enter 2025 optimistic about the future and the opportunities to grow both globally and in Kuwait, driving value for our shareholders, employees, customers, and communities,' Sultan said. Recap of Agility KSCP FY 2024 Financial Performance Agility's net profit was KD 63 million and EPS was 25.07 fils. Agility's EBIT increased 5.8% and EBITDA increased 7.8% to KD 277 million. Agility's revenue increased 13% to KD 1,528 million and net revenue increased 19.2%. Agility enjoys a healthy balance sheet with KD 4.2 billion in assets. Agility reported an operating cash flow of KD 238 million for the full year of 2024. About Agility Agility is a global leader in supply chain services, infrastructure, and innovation with 65,000 employees across six continents. Listed in Kuwait and Dubai, Agility specializes in growing and scaling operating businesses. Agility's portfolio of companies include the world's largest aviation services company (Menzies Aviation); a global fuel logistics business (Tristar); and a leading logistics parks developer and operator across the Middle East, South Asia, and Africa (Agility Logistics Parks). Other Agility companies offer customs digitization services, remote-site infrastructure services, defense and government services, ecommerce-enablement and digital logistics, and waste management and recycling. Agility invests in supply chain innovation, sustainability, and resilience, and has minority holdings in a portfolio of listed and non-listed companies.
