Latest news with #GregoryHunt
Yahoo
21-05-2025
- Business
- Yahoo
Nufarm Ltd (ASX:NUF) (Q2 2025) Earnings Call Highlights: Navigating Challenges with Strategic ...
Underlying EBIT: $103 million, a decrease of 15% year on year. Earnings Per Share (EPS) Before Material Items: $0.72. Leverage: 4.5 times underlying EBITDA. Revenue from Seed Technologies: $249 million. Underlying EBITDA: $206 million, a decrease of 6% year on year. Statutory Net Profit After Tax: $30 million. Net Debt: $1.362 billion, an increase of 12% on the prior year. Capital Expenditure for FY26: Expected to be around $200 million. Inventory Reduction: Achieved a 22-day year-on-year reduction, on track for a 25-day reduction by year-end. Net Working Capital to Sales: 39.2%, a substantial improvement from the prior year. Omega-3 Inventory Write-Down: Negative $28 million due to fish oil market conditions. Return on Funds Employed: 3.2% compared to 3.6% in the prior year. Revenue Growth: 3% increase year on year. Gross Profit Margin: Increased by 50 basis points year on year. Net Operating Cash Flow Movement: Outflow of $459 million due to seasonal net working capital build. Warning! GuruFocus has detected 4 Warning Signs with ASX:NUF. Release Date: May 21, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nufarm Ltd (ASX:NUF) reported a strong recovery in profitability from crop protection, with underlying EBIT up 34% year on year. The company achieved a 22-day year-on-year reduction in inventory, on track for a 25-day reduction by the end of the financial year. Nufarm Ltd (ASX:NUF) is expanding its biofuels platform, planning a threefold increase in carinata planting area in 2025. The company has formed new agreements with BP and Unilever to develop biomass oil, targeting sustainable oil production for biofuels and FMCG applications. Nufarm Ltd (ASX:NUF) is exploring alternative capital structures for its Seed Technologies to accelerate growth and maximize value. The omega-3 platform negatively impacted results, leading to a $28 million write-down of omega-3 inventories. Nufarm Ltd (ASX:NUF) finished the period with a leverage of 4.5 times, reflecting increased debt levels. The company reported a decline in underlying EBITDA by 6% year on year, and underlying EBIT decreased by 15%. North America experienced a 10% year-on-year decline in EBIT due to pricing pressures and a delayed season. The fish oil market saw a significant reduction in pricing, impacting sales and profitability for the Aquaterra product. Q: Why is Nufarm exploring alternative structures for Seed Technologies now, especially with depressed fish oil prices? A: Gregory Hunt, CEO, explained that Seed Technologies requires more funding than Nufarm alone can provide as it moves to the next growth stage. Despite temporary oversupply affecting omega-3, the long-term demand is positive, and sophisticated investors may see the long-term value in the platform. Q: What is the outlook for Nufarm's Australian business given the dry conditions? A: Gregory Hunt, CEO, noted improved margins due to lower costs, but dry conditions have impacted trading since March. The rest of Asia remains stable, and Nufarm plans to prioritize the domestic market while exploring opportunities in North America. Q: Is the current poor market environment in North America temporary, or is there a structural issue? A: Gregory Hunt, CEO, stated that the market operates on a just-in-time basis, with uncertainty around tariffs causing cautious channel purchasing. However, with low channel inventories, Nufarm expects improved volumes in the second half. Q: Can you provide details on the supplier financing utilization? A: Brendan Ryan, CFO, confirmed that supplier financing was approximately AUD125 million, consistent with the previous year's position. Q: How does Nufarm plan to address the 4.5 times net debt to EBITDA leverage? A: Brendan Ryan, CFO, outlined actions to deleverage, including reducing CapEx, scaling back omega-3, achieving cost savings, and introducing new products. These actions are expected to bring leverage back to the target range of 1.5 to 2 times EBITDA by FY26. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
09-05-2025
- Associated Press
Alabama sets a June date for its 5th execution using nitrogen gas
MONTGOMERY, Ala. (AP) — Alabama plans to carry out another execution by nitrogen gas and has set a June execution date for a man convicted of the 1988 killing of a woman. Gregory Hunt is scheduled to be put to death June 10 for the 1988 beating death of Karen Lane. Alabama Gov. Kay Ivey on Wednesday announced the execution date following authorization by the Alabama Supreme Court. Alabama last year became the first state to carry out an execution with nitrogen gas. Nitrogen has now been used in five executions — four in Alabama and one in Louisiana. The method involves using a gas mask to force a person to breathe pure nitrogen gas, depriving them of the oxygen needed to stay alive. If the execution goes forward, Hunt would be the sixth person put to death by the new execution method. Lane was found dead on Aug. 2, 1988, in the Cordova apartment she shared with another woman. Hunt had been dating the victim, Lane, for about one month before her death, according to court records. Prosecutors said Hunt broke into her apartment and killed her. A physician who performed an autopsy testified that Lane had sustained some 60 injuries, including 20 to the head. A jury in 1990 convicted Hunt of capital murder and recommended by a vote of 11-1 that he receive a death sentence. The Alabama attorney general's office, in a motion seeking the execution date, wrote there was no doubt about his guilt and said that Hunt had admitted to his cellmate that he killed Lane. Lawyers for Hunt had asked the court to wait on an execution date. They argued that a February U.S. Supreme Court decision could be applicable to his longstanding claim that his conviction was unconstitutionally obtained by false or misleading evidence. Hunt had named nitrogen as his preferred method. The selection was made before Alabama had developed procedures for using gas. Alabama also allows to choose lethal injection or the electric chair. If the execution goes forward, it would be the third execution in Alabama this year.
