Latest news with #ProjectDynamo
Yahoo
2 days ago
- General
- Yahoo
Israel-Iran conflict: US groups working to get civilians out of region
The Brief The conflict between Israel and Iran escalated on Friday. Veteran-led groups Project Dynamo and Grey Bull Rescue are deploying teams to evacuate Americans and allies from the escalating conflict zone. Both organizations are seeking donations and urging individuals to contact them if loved ones need rescue from the region. As the conflict between Israel and Iran continues to escalate in the Middle East, US ground-based air defense systems are helping to shoot down missiles. READ MORE: Iran retaliates against Israel after attack on nuclear program Meanwhile, outside groups are preparing to get Americans stuck in the region to safety. Mario Duarte, the founder and CEO of Project Dynamo, is working to evacuate civilians stuck in Israel and the region. The veteran-led organization specializes in high-risk global rescue missions. Project Dynamo is deploying multiple teams to assist those in need, including American citizens, US lawful permanent residents and allies of the U.S. in need of evacuation. What they're saying "We are launching different operations right now to make sure that we have our teams, volunteers and assets in place to assist all Americans to get out of harm's way and get back home safely," said Duarte. "we're always hoping that, you know, tensions will de-escalate eventually, but in the meantime, while things are still brewing, we prefer to be in place. What you can do If you know of a loved one who needs to be rescued, or wish to donate, you can go to: Grey Bull Rescue, which is based in Florida, has already reportedly received dozens of requests for help getting people out of the region. The group has conducted 730 rescue missions, including one where the group successfully extracted three girls from Haiti, including one being adopted by a family in North Texas. What they're saying "There's airspace closed in at least four countries as we speak, and there's Americans in every single one of them.," said Bryan Stern, the CEO of Grey Bull Rescue. "There is no way out for them. That's why we're deploying." What you can do If you know of a loved one who needs to be rescued, or wish to donate, you can go to: The Source Information in this article comes from interviews with Grey Bull Rescue and Project Dynamo.
Yahoo
11-04-2025
- Business
- Yahoo
TT Electronics PLC (STU:7TT) (Q4 2024) Earnings Call Highlights: Navigating Challenges and ...
Revenue: Down 13% on a constant currency basis; 5% excluding divestments; 2% on a like-for-like basis. Adjusted Operating Profit: Declined by 17% on constant currency; 13% excluding divestments. Adjusted Operating Margin: Dropped by 60 basis points to 7.1% at constant currency; 7.4% excluding divestments. Earnings Per Share: Declined by 30% at constant currency. Free Cash Flow: GBP27.7 million inflow; cash conversion at 117%. Inventory Reduction: GBP13 million reduction in inventory. Leverage: 1.8 times, within target range of 1 to 2 times. Order Intake: Up 9% organically over 2023; book-to-bill ratio at 103%. Noncash Write-down: GBP52.2 million in goodwill and asset write-down costs. Adjusted Operating Profit Forecast: Expected to be in the range of GBP32 million to GBP40 million. Dividend: Final dividend paused due to macroeconomic uncertainty. Warning! GuruFocus has detected 7 Warning Signs with STU:7TT. Release Date: April 10, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. TT Electronics PLC (STU:7TT) reported excellent performance in Europe and Asia, with significant margin improvements driven by operational efficiency. The company achieved a 9% organic increase in order intake over 2023, with a positive book-to-bill ratio of 103%. Strong cash flow generation was highlighted, with a cash conversion rate of 117% and a GBP13 million reduction in inventory. The pension scheme issue was significantly addressed, resulting in a GBP11 million net pension surplus refund. Project Dynamo has been successful in driving operational efficiency, growth, and innovation across the company. TT Electronics PLC (STU:7TT) faced significant challenges in North America, with destocking in the components market leading to volume and revenue shortfalls. Operational issues in Kansas and Cleveland negatively impacted results, leading to noncash goodwill and asset write-down costs of GBP52.2 million. The company experienced a 13% decline in revenue on a constant currency basis, with a 17% decline in adjusted operating profit. The Board decided to pause the final dividend for 2024 due to macroeconomic uncertainty and associated business risks. The company does not expect revenue growth in North America in 2025, partly due to the deferral of some revenues into 2026. Q: With the change in management, will there be any alterations to Project Dynamo? A: Eric Lakin, Acting CEO, stated that Project Dynamo is a valuable tool for continuous improvement across the business. It encourages initiatives at all levels and helps offset business headwinds, including inflationary pressures. The project will continue as it is beneficial for driving improvement and initiatives. Q: Can you explain the main components of the profit bridge from 2024 to 2025? A: Mark Hoad, CFO, explained that the Albert divestment, which contributed GBP16 million in revenue in 2024, will have minimal profit impact in 2025. Efficiency improvements in North America and one-off costs in Asia related to moving production from China to Malaysia are expected. Overall, organic growth will depend on market conditions. Q: How are customer relationships in North America being maintained despite operational issues? A: Eric Lakin noted that customer relationships remain strong due to the complexity and long-term nature of the contracts. The operational issues impact TT Electronics' margins more than customer satisfaction, and no customers have been lost. Q: What is the percentage of US revenue manufactured domestically versus elsewhere, and how feasible is it to transfer manufacturing? A: Mark Hoad stated that while manufacturing can be moved globally, it takes time. The company is currently transferring production from China to Malaysia. The specific percentage of US-manufactured revenue was not provided, but the company has flexibility in its global operations. Q: Why is TT Electronics bearing the GBP2 million cost of shifting production from China to Malaysia? A: Mark Hoad explained that the cost is part of a contractual negotiation, and the overall economic benefits of the program justify the expense for TT Electronics. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
