Latest news with #R.
Yahoo
29-05-2025
- Business
- Yahoo
Infosys Launches Over 200 Enterprise AI Agents, Part of Infosys Topaz™ AI Offerings and Google Cloud
Leveraging Google Cloud's agentic AI framework and Infosys Topaz, these agents are designed to transform enterprise processes BENGALURU, India, May 29, 2025 /CNW/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced the launch of over 200 enterprise AI agents powered by Infosys Topaz™ AI offerings and Google Cloud's Vertex AI Platform. The AI agents are designed to drive tangible outcomes for enterprises by transforming complex workflows and managing intricate, multi-agent business operations efficiently at scale. These enterprise AI agents cater to multiple sectors, including healthcare, finance, retail, telecom, manufacturing, and agriculture. Leveraging advanced machine learning and cognitive architecture, the agents are equipped with powerful capabilities such as data extraction to transform raw inputs into actionable insights and multimodal functionality to handle diverse data types effectively. They ensure secure communication through encrypted channels and uphold robust data privacy measures to protect sensitive information. Additionally, the enterprise AI agents feature autonomous decision-making, which allows them to independently analyze scenarios and execute complex tasks, driving enhanced operational efficiency. For example: In the area of predictive network capacity planning, a monitoring agent continuously tracks real-time network capacity and alerts for any immediate concerns. This proactive monitoring helps prevent potential network issues, enhancing reliability and efficiency. It leads to reduced downtime, improved user experience, and optimized resource utilization. In the accounts payable and receivable processes, a corporate finance agent ensures accurate financial reporting and cash flow management, thus reducing the risk of late payments or missed collections, enhancing overall financial efficiency and reliability. In the manufacturing domain, a forecasting agent uses real-time data to predict demand for vehicle parts, thus optimizing inventory and managing the supply chain. This approach adjusts production, evaluates inventory, and auto-orders shortfall parts, boosting operational effectiveness and reliability. Balakrishna D. R. (Bali), Executive Vice President, Global Services Head, AI and Industry Verticals, Infosys, said, "The development of more than 200 enterprise AI agents marks a milestone in our continued efforts to innovate and lead in the enterprise AI space. With Infosys Topaz™ AI offerings and Google Cloud's advanced AI frameworks, we are enhancing Human+AI collaboration and unlocking new levels of efficiency and precision across industries. This initiative not only demonstrates our capabilities but also reinforces our commitment to helping businesses navigate their next." "Enterprise AI agents have the power to improve operations by driving efficiency, reducing costs, and enhancing decision-making processes," said Victor Morales, Vice President of GSI and Consulting Partnerships, Google Cloud. "Infosys' enterprise AI agents, built on Google Cloud's Vertex AI platform, can enable businesses to improve complex workflows and support multi-agent operations at scale." The AI agents mark a significant milestone as a direct outcome of the Google Cloud Center of Excellence, powered by Infosys Topaz™. The initiative leverages the advanced AI capabilities of Infosys Topaz™ and the generative AI technology of Google Cloud to deliver innovative enterprise AI solutions. For more information, please visit here. About Infosys Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace. Visit to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next. Safe Harbor Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law. Logo: View original content: SOURCE Infosys View original content: 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
Cision Canada
29-05-2025
- Business
- Cision Canada
Infosys Launches Over 200 Enterprise AI Agents, Part of Infosys Topaz™ AI Offerings and Google Cloud
Leveraging Google Cloud's agentic AI framework and Infosys Topaz, these agents are designed to transform enterprise processes BENGALURU, India, May 29, 2025 /CNW/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced the launch of over 200 enterprise AI agents powered by Infosys Topaz™ AI offerings and Google Cloud's Vertex AI Platform. The AI agents are designed to drive tangible outcomes for enterprises by transforming complex workflows and managing intricate, multi-agent business operations efficiently at scale. These enterprise AI agents cater to multiple sectors, including healthcare, finance, retail, telecom, manufacturing, and agriculture. Leveraging advanced machine learning and cognitive architecture, the agents are equipped with powerful capabilities such as data extraction to transform raw inputs into actionable insights and multimodal functionality to handle diverse data types effectively. They ensure secure communication through encrypted channels and uphold robust data privacy measures to protect sensitive information. Additionally, the enterprise AI agents feature autonomous decision-making, which allows them to independently analyze scenarios and execute complex tasks, driving enhanced operational efficiency. For example: In the area of predictive network capacity planning, a monitoring agent continuously tracks real-time network capacity and alerts for any immediate concerns. This proactive monitoring helps prevent potential network issues, enhancing reliability and efficiency. It leads to reduced downtime, improved user experience, and optimized resource utilization. In the accounts payable and receivable processes, a corporate finance agent ensures accurate financial reporting and cash flow management, thus reducing the risk of late payments or missed collections, enhancing overall financial efficiency and reliability. In the manufacturing domain, a forecasting agent uses real-time data to predict demand for vehicle parts, thus optimizing inventory and managing the supply chain. This approach adjusts production, evaluates inventory, and auto-orders shortfall parts, boosting operational effectiveness and reliability. Balakrishna D. R. (Bali), Executive Vice President, Global Services Head, AI and Industry Verticals, Infosys, said, "The development of more than 200 enterprise AI agents marks a milestone in our continued efforts to innovate and lead in the enterprise AI space. With Infosys Topaz™ AI offerings and Google Cloud's advanced AI frameworks, we are enhancing Human+AI collaboration and unlocking new levels of efficiency and precision across industries. This initiative not only demonstrates our capabilities but also reinforces our commitment to helping businesses navigate their next." "Enterprise AI agents have the power to improve operations by driving efficiency, reducing costs, and enhancing decision-making processes," said Victor Morales, Vice President of GSI and Consulting Partnerships, Google Cloud. "Infosys' enterprise AI agents, built on Google Cloud's Vertex AI platform, can enable businesses to improve complex workflows and support multi-agent operations at scale." The AI agents mark a significant milestone as a direct outcome of the Google Cloud C enter of E xcellence, powered by Infosys Topaz™. The initiative leverages the advanced AI capabilities of Infosys Topaz™ and the generative AI technology of Google Cloud to deliver innovative enterprise AI solutions. For more information, please visit here. About Infosys Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace. Visit to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next. Safe Harbor Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
Yahoo
15-05-2025
- Business
- Yahoo
Q1 2025 Drilling Tools International Corp Earnings Call
Ken Dennard; Investor Relations; Drilling Tools International Corp R. Wayne Prejean; Chief Executive Officer, Director; Drilling Tools International Corp David Johnson; Chief Financial Officer; Drilling Tools International Corp Steve Ferazani; Analyst; Sidoti & Company Josh Jayne; Analyst; Daniel Energy Partners Operator Greetings, and welcome to the Drilling Tools International first-quarter 2025 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Ken Dennard. Thank you. You may begin. Ken Dennard Thank you, operator, and good morning, everyone. We appreciate you joining us for Drilling Tool International's 2025 first-quarter conference call and webcast. With me today are Wayne Prejean, Chief Executive Officer; and David Johnson, Chief Financial Officer. Following my remarks, management will provide a review of first quarter results and 2025 outlook before opening the call for your questions. There will be a replay of today's call, and it will be available by webcast on the company's website at and there's also a telephonic recorded replay available until May 21. You can find information on how to access those replays in the press release from yesterday. Please note that any information reported on this call speaks of today, May 14, 2025, and therefore, you're advised that any time-sensitive information may no longer be accurate at the time of any replay listening or transcript reading. Also, comments on this call will contain forward-looking statements within the meaning of the United States federal securities laws. These forward-looking statements reflect the current views of DTI's management. However, various risks and uncertainties and contingencies could cause actual results, performance or achievements to differ materially from those expressed in the statements made by management. The listener or reader is encouraged to read its annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K to understand certain of those risks, uncertainties and contingencies. The comments today will also include certain non-GAAP financial measures, including, but not limited to, adjusted EBITDA and adjusted free cash flow. We provide these non-GAAP results for informational purposes, and they should not be considered in isolation from the most directly comparable GAAP measures. A discussion of why we believe these non-GAAP measures are useful to investors, certain limitations of using these measures and reconciliation to the most directly comparable GAAP measure can be found in our earnings release and our filings with the SEC. And now with that behind me, I'd like to turn the call over to Wayne Prejean, DTI's Chief Executive Officer. Wayne? R. Wayne Prejean Thanks, Ken, and good morning, everyone. I will provide some opening remarks before handing the call over to David to review the financials. I'll then come back and provide a few additional thoughts before we open it up for questions. We are pleased to report first quarter sequential and year-over-year revenue growth and solid adjusted EBITDA despite industry headwinds. Revenue grew 16% over last year's first quarter and was up nearly 8% over 2024 fourth quarter results. Adjusted EBITDA grew nearly 18% year over year and was flat sequentially. Our team has much to be proud of and has skillfully managed the recent volatility in commodity prices and rig counts. We have yet to experience tangible disruptions to our forecast in North America for the rental or sale of our tools. However, we do see increased volatility and uncertainty in the marketplace due to the impact of tariffs, a potential recession that could lower demand for hydrocarbons and OPEC Plus' decision to increase production among other challenges. In anticipation of when, not if these potential disruptions impact our order flow, DTI has begun executing on a two-phase strategy. We are proactively negotiating with our suppliers and our customers to ensure stability and profitability. We are implementing a multilevel internal cost reduction program. Phase 1 implemented in Q2 will result in an estimated $6 million in annual cost reductions. Both David and I, along with our entire management team, have decades of experience working through multiple commodity cycles and prudently rightsizing the business when demand for our products and services changes. The anticipated rig count drop in the US will challenge all service providers. I am confident we will prove to the investment community and shareholders our ability to sustain solid EBITDA and free cash flow in the face of volatility. While we cannot control global economic forces, we do believe that our input costs, our cost of goods are strategically positioned to minimize the increase and the expenditures associated with any near-term tariff risk for three reasons. Should the industry experience a significant reduction in rig count, DTI can quickly curtail planned growth CapEx. DTI has a strong and diverse manufacturing base in North America. In addition to manufacturing for our own consumption, DTI already sources a large amount of made in America steel. And our international footprint and diverse supply chain provides us flexibility in the face of uncertainty and exposure to other concentrations of rigs that may not lay down as quickly as US shale producers. So based on this volatility and uncertainty, we are proactively adjusting our annual revenue, adjusted EBITDA and adjusted free cash flow guidance ranges for 2025. David will discuss our updated guidance in his formal remarks. We remain committed to identifying future cost reduction opportunities and maintaining operational agility to quickly respond to this challenging environment. furthering our mission to enhance shareholder value. Also related to our capital deployment strategy, our Board of Directors has unanimously approved a share buyback authorization. This authorization is up to $10 million of buybacks. We believe our undervalued stock price presents one of the most compelling return on investment opportunities to deploy our capital. David will now take you through the first quarter financials and discuss our 2025 outlook updates in more detail. David? David Johnson Thanks, Wayne. In yesterday's earnings release, we provided a detailed first quarter financial tables, so I'll use this time to offer further insight into specific financial metrics. Despite continued rig count softness and market choppiness in the first quarter of 2025, revenue increased over last year's first quarter by 16% in the face of a 6% global rig count decline over the same period. We believe this continues to validate our stated M&A strategy to further strengthen our business model and diversify our geographic footprint. Looking at our first quarter results, we generated total consolidated revenue of $42.9 million, comprised of tool rental revenue of approximately $34.5 million and product sales revenue of $8.3 million. We reported total operating expenses of $39.6 million and operating income was $3.3 million. First quarter adjusted EBITDA was $10.8 million, and adjusted free cash flow was $5.7 million. At the end of the first quarter, we had approximately $2.8 million in cash and cash equivalents and net debt of $52.1 million. During the quarter, as part of our recent segment reorganization, we conducted a comprehensive goodwill impairment assessment. This process required us to allocate goodwill between all affected reporting units and test each for potential impairment. As a result, we have recorded a noncash goodwill write-down attributable to our Vernal, Utah bit repair operations in the Western Hemisphere and the deep casing tools reporting unit in the Eastern Hemisphere. The approximately $1.9 million impairment is a function of purchase price accounting and does not affect our day-to-day operations or our ability to execute on our strategic priorities. From a purchase accounting standpoint, it is important to note that the increase in our stock price, pre-close of the SDPI transaction caused the total allocated purchase price consideration to increase beyond the amount by which we underwrote the deal. Importantly, this charge is noncash in nature and does not impact liquidity, free cash flow or adjusted EBITDA. Adjusted net income which excludes this noncash charge remains positive and in line with our strong operational performance for the quarter. We believe taking this impairment now provides a more accurate reflection of asset values in the current market environment and positions us for improved transparency and comparability going forward. As previously mentioned on our last call, our new Western and Eastern Hemisphere segment reporting structure began this quarter. Our Western Hemisphere segment, which includes products and services like directional tool rentals, wellbore optimization tools, premium tools and bit repair remains steady. Moving to the Eastern Hemisphere, which is predominantly made up of deep casing tools, European drilling projects and now Titan Tools, you'll see some choppiness as we compare Q1 '24 to Q1 '25. With the addition of the European drilling projects and Titan Tools, our tool rental revenue is up significantly over Q1 of '24. Our decline in product sales was primarily due to deep casing tools. We believe that the product sales at deep casing tools bottomed out in second half 2024, given their exposure to the Saudi offshore market and Mexico. These tools are high spec and we expect demand for them to pick up internationally throughout 2025, as existing customer-owned inventory is depleted. With our expanded offering of rental tools, including MechLOK drill pipe swivels, the Rubblizer-PNA, fixed blade stabilizers, drilling ream and other BHA components, rental revenue is becoming a much larger percentage of the Eastern Hemisphere revenue mix, and we anticipate steady growth and better cost absorption in future quarters. Previously, we've spoken about the total revenue contribution from each hemisphere and indicated an expectation for the Eastern Hemisphere to grow to 18% of total revenue. As you can see in Q1 results, the Eastern Hemisphere accounts for 11% of revenue, but we expect the Eastern Hemisphere contribution to grow as the year progresses. Adjusted free cash flow in the first quarter was $5.7 million. We maintained our planned CapEx spend in the first quarter to support the momentum we have been experiencing from our organic RotoSteer product growth story and our international expansion. Going forward, we will continue to review all CapEx spending with an eye on activity levels while demonstrating our ability to generate adjusted free cash flow. Looking at maintenance CapEx for the first quarter, it was approximately 10% of total revenue. Although up slightly in Q1, this portion of our capital investment has trended lower in the past several quarters due to the decline in rig count and our customers' focus on drilling efficiencies translating into fewer lost-in-hole and damaged beyond repair events. As a reminder, our maintenance capital is primarily funded by tool recovery revenue which keeps our rental tool fleet relevant and sustainable regardless of market trends. To summarize the first quarter of 2025 we saw the positive effects of our acquisitions and organic growth in the RotoSteer product line, which offset some of the decline in our directional tool rentals and deep casing tools product lines. Pricing pressure, product mix and activity declines have impacted our margins. We believe this will continue throughout 2025, with pricing pressure and further activity declines resulting from the fears of oversupply caused by a slowdown in demand and increased production. However, in the long run, we believe we can position ourselves to improve our consolidated margin profile over time as we continue to manage our cost structure and add scale. As Wayne mentioned, we have proactively initiated cost reduction measures in Q2 that will result in approximately $6 million of annual cost savings, which is reflected in our updated 2025 guidance. We have also updated our guidance to reflect a further decline in the North American land rig counts. Although we do not have a crystal ball, our previous assumption of a flat to slightly up market has shifted to a down market for the remainder of 2025. With that in mind, we now expect full year 2025 revenue to be in the range of $145 million to $165 million. We expect adjusted EBITDA to be within the range of $32 million to $42 million. Gross capital expenditures are expected to be between $18 million and $23 million. And finally, we expect our 2025 adjusted free cash flow to range between $14 million to $19 million. That concludes my financial review and outlook section. Let me turn it back over to Wayne to provide some summary comments. R. Wayne Prejean Thank you, David. Before we open up the lines for questions, I would like to highlight five points. First, over the past six weeks since the new administration's tariff policies were introduced, worldwide sentiment across the industry had become anxious. Recently, various news outlets announced some adjustments to the tariff policy and it appears negotiations are headed in a positive direction. Despite the ever-changing news or trade policy shifts, we assume there is likely a negative impact to our business this year. Second, DTI has taken certain initiatives to remain competitive, including remaining resourceable and innovative when combating pricing pressures. Third, we are constantly evaluating customer activity levels and adjusting our operations to align with demand. Fourth, we are confident that elevated demand for complex wellbore solutions will further strengthen the need for our differentiated technology and the value-added solutions we provide our clients across the globe. Finally, we believe our best-in-class performance driven, technologically differentiated offerings, combined with our expanding global geographic footprint, will deliver solid results as energy markets recover. In closing, we value and appreciate our customers, our employees and our shareholders. I would like to thank every member of the DTI team for their continuous dedication to working in a safe, inspired and productive manner. This commitment by our employees is critical in managing this volatile commodity cycle and is vital to our future growth. With that, we will now take your questions. Operator? Operator (Operator Instructions) Steve Ferazani, Sidoti & Company. Steve Ferazani Appreciate the detail on the call, also the detail around guidance, which always challenging. I imagine exceptionally challenging given the aftermath of Liberation Day. I want to ask about first just on obviously, second half should be more challenging, particularly in US short cycle. But you're not moving free cash flow much. Looks like you're taking about $6 million out of your growth CapEx. Talk a little bit about the fact that you can maintain pretty good free cash flow in this environment? David Johnson Let me take that one. R. Wayne Prejean Sure. David Johnson Thanks, Steve. Part of that, I think, is two-pronged, obviously, focusing on the cost reductions to keep preserve as much of the EBITDA margins as we can, obviously helps. And then as we look at the activity and projected activity going forward and our CapEx spend kind of making sure we coincide any purchases or defer same along the line as we did last year on future CapEx to make sure we preserve that ability to generate the free cash flow. Steve Ferazani Great. It sounded like you're still expecting sequential Eastern Hemisphere growth this year, and I think you pointed to deep casing tools, particularly. Can you talk a little bit about what you're seeing specifically in Saudi and otherwise in the Middle East? R. Wayne Prejean Yes. So most of the Middle East is relatively flat. But the Saudi rig reduction in their offshore market, particularly the offshore market was impactful to us because we had many, many product sales going into that market. But we've managed to pivot and see some consumption in the other areas. And in parallel to that, our acquisition of ED Projects has some technology in our fixed blade and sleeves and other stabilization technologies that are gaining more and more traction in that market. And in addition to that, our D&R product line is starting to gain some traction in the Middle East market. After the acquisition, we had to kind of unpack and aggregate our teams there and kind of integrate all those groups together. And I think that most of that is behind us. And we feel like our momentum is picking up there. And despite that Saudi rig count softness that impacted everyone, I believe, we were able to start spreading our wings across the Middle Eastern market and gain traction there, which will offset some of the activities that are impossible decline here. And we've kind of baked all that in. So that's kind of the impact. Steve Ferazani So you're expecting, at least given the weakness of this growth in these acquisitions are certainly going to help offset in a challenging 2025? R. Wayne Prejean Right. We have some emerging products that are gaining ground or one of the products that we acquired in Deep casing was the MechLOK swivel and the Rubblizer product, one for installing complex casing strings in horizontal wells, that which is the swivel. And then the Rubblizer is more of a plug and abandonment technology that couples well with a lot of applications. And those were in their infancy at the time of acquisition. So they were not material part of the acquisition value or kind of in addition to, as we call it, Louisiana, Lana, a little bit extra for nothing. So -- so we are now moving those into full commercial stage, and they're gaining traction and offsetting some of the drop in the product sales that I spoke of earlier, so. Steve Ferazani Got it. Got it. That's helpful. You noted you haven't seen the tangible impact in North America yet. I mean we're hearing -- we're seeing rig count come down, but it seems like it's the smaller operators. We know the guides we're seeing for CapEx is down a bit. I'm assuming the guidance changes primarily second half in terms of cadence to the guidance, does 2Q look similar to 1Q based on what you know right now with obviously with six weeks to go? R. Wayne Prejean David, what do you -- how do you think to answer that one? David Johnson I mean, yes, I think we're looking at the rest of the year in totality. And it's hard to obviously predict the combination of activity and pricing and so forth. But on a blended basis, we've got that kind of spread out over the year. R. Wayne Prejean Steve, we've anticipated some softness in the US market throughout the rest of the year. But what's interesting is -- and we're also going through the Canadian seasonality dip right now. So that will ramp back up and help out as well in the rest of the year. And there has been some reports where Canada might be a little more immune to some of this downturn because of their particular situation in production and cost and economics and things of that nature. So we're happy that we have a strong business in Canada and very, very solid and sustainable operation there. What's kind of interesting about the US market, and I think what has most of the company's OFSs and everything perplexed is the lack of a swift downturn, it's more of just a slow leak, and that's what's happened over the last year. And now we have some additional leakage if excuse the expression, but that gets kind of leakage. It's a slow burn. Historically, when we would have downturns, you have a swift rig downturn and everyone would correct. Well, when it goes slow, it's a little more challenging for each company to decide how they make those adjustments. And we've done this before. We've seen this movie a few times, and we're adjusting -- understanding that that metric of our customers of how they manage their rig counts. Steve Ferazani Perfect. That's helpful. I get one more in just on capital allocation and the guide. You have a pretty wide range on the full year interest expense. Is that because it's how much debt you may or may not reduce in the remainder of the year? David Johnson Yes, I think that's very accurate, Steve. Obviously, depending on the capital spend and where we exercise that free cash flow deployment, we have an opportunity to lower our debt if we pull back on the CapEx and adjust according to the activity, so that all happens in the downturn. And we've also, obviously, as you saw, kind of consider the share buyback as part of our use of cash as well, that opportunity. So we'll kind of look at that as time progresses. Operator Josh Jayne, Daniel Energy Partners. Josh Jayne First question, I just wanted to dive into North America a little bit more. I think in your slide deck, you highlight that 60% of the drilling rig or America utilize DTI tools and equipment, so just given your broad exposure, could you talk about how you're thinking about the back half of the year? I know you said probably or maybe look similar spread across the last three quarters. But could you talk through what regions may be the most at risk in North America for a little bit of a pullback in what regions may hold up better than some others? R. Wayne Prejean That's a great question, Josh, because as you well know, the economics in these different basins will drive the behavior of the operators and the rig count will result thereof those economics. So the resiliency of each area is going to be challenged here in the next few months if oil prices keep dropping, something in the 60s helps many of them continue with what they're doing if it drops it with a five handle for a significant amount of time. We're pretty sure that we'll see some reductions in areas where the economics are as strong. I would hate to lean and into exactly which areas, whether it's DJ or the Oklahoma oily basins or if it's Permian, Midland or Delaware Basin, there's a lot of narratives and information out there on which ones have the strength to sustain lower oil prices, but there is -- so the Haynesville tends to be -- the gas areas tend to be more sustainable. So we have good exposure to every area. We're heavy in the Permian. We have really good operations in the Haynesville as well where we're in a lot of tools, pipe and downhole tools, rears, you name it. So our spread and diversity gives us the stress to move around in these basins, respective to activity. And we can ebb and flow and pull the levers up and down in our locations and move tools to where they need to be and the activity that is most vibrant. So it's going to be an interesting next few months. Josh Jayne Okay. And then I just wanted to follow up on CapEx because you noted that you could potentially curtail growth CapEx if the macro was -- turned out to be more unfavorable. Could you comment on your CapEx program for this year on the growth side and the things that you're spending money on and which regions you're ultimately trying to grow with that growth CapEx would be great. David Johnson So most of our focus on anything growth related in that category will be in new technology and new types of tools that have growth potential. And we'll be -- we'll continue to sustain our existing rental fleet, I call our legacy fleet, which is your common stuff on a day-to-day basis. But our new stabilizer technology, our new swivels, the technology, I spoke of early with MechLOK, our RotoSteer product line, which is gaining steady traction in the US and finding its niche in certain directional and horizontal drilling applications. We are continuing to make sure we put the appropriate amount of capital for the future, even though we see the softness in our general marketplace today, we see the future in the next year to come, that we need to put these tools in motion and get their stickiness and commercial traction with our clients so that we have a long-term participation in the drilling program. So that's where most of our CapEx focus. Operator This now concludes our question-and-answer session. I'd now like to turn the floor back over to Wayne Prison for closing comments. R. Wayne Prejean Thank you. I would like to thank everyone for their participation and interest today in our earnings call and make everyone aware that our company is continuing to be competitive and is ready to meet all the challenges that we face in our industry going forward. And we thank you for your interest, and have a great day. Operator Ladies and gentlemen, thank you for your participation. This does conclude today's teleconference. You may disconnect your lines, and have a wonderful day.
Yahoo
14-05-2025
- Science
- Yahoo
It's raining tiny toxic frogs
Poison dart frogs are hard to miss. They're bright, agile, and as their name suggests, toxic. But at least a few of these showy amphibians have gone under the radar, until now. Scientists surveying a difficult to reach area of the Brazilian Amazon report two new species in a set of recent papers. The first, published in April in the journal ZooKeys, describes the teal and black Ranitomeya aquamarina. The second, released May 14 in the journal PLOS One, introduces the light blue striped Ranitomeya how frequently novel amphibian species are found elsewhere, the frogs are the first newly described members of their genus in 13 years. Reaching their habitat requires flying on a small plane, followed by a 10-hour boat journey along the river, Esteban Diego Koch, a study co-author and PhD candidate in evolutionary biology at the National Institute of Amazonian Research, tells Popular Science. That long trek for humans is a major part of why the species stayed formally undiscovered for so long, he says. It takes years to properly prepare to survey such a remote region and to build relationships with the local Indigenous community, who were instrumental in assisting and guiding the outside researchers. Both of the poison dart species were discovered in pockets of open forest about 30 miles apart, along the banks of the Juruá River in western Brazil, near the border of Peru, Each species has an affinity for the same palm-like plant, with tadpoles that grow up inside the small, ephemeral pools of water that collect at the base of the leaf stalks. They spend their days perched on these plants or foraging in the nearby leaf litter, likely eating the toxic insects that help them build up their own reserves of deadly chemicals. The frogs are named in reference to the color of the striking stripes on their backs. R. aquamarina has an array of bright turquoise lines running against a jet black background, while R. aetherea (Latin for 'heavenly'), displays angelic, sky blue stripes against brick red. The two species share copper-colored, spotted metallic legs that resemble safari-print pants and are both about 15-17 millimeters long, about the diameter of a dime. Despite all their similarities, the amphibians seem to lead divergent lives, especially when it comes to mating. The scientists most often found adult R. aquamarina in pairs, suggesting the frogs couple-up to breed and stay together for an extended period of time. This type of monogamy is rare in amphibians and was only first discovered 15 years ago in another dart frog species. In contrast, R. aetherea appears to play the field. Males of the sky blue species were generally sighted solo, emitting frequent advertising calls, and switching to a courtship call when approached by females, who don't stick around in one place for very long. It's a testament to how deceiving looks can be. Dart frogs have a complex evolutionary history of species emerging and subsequently re-hybridizing. In this genus of frogs, 'very distinct species can have the same appearance: the same colors and the same pattern,' Koch says. Adding to the confusion, 'sometimes a single species can have multiple patterns of color,' he notes. Since going by appearance alone isn't enough, the scientists conducted extensive analyses of both types of frogs to confirm that the striped and spotted dart frog specimens truly represented two new species. They used genetic sequencing, compared the sound waves of mating calls, and took exceptionally accurate measurements of dozens of frogs under a microscope. They found that the two species were quite distinct, and not as closely related as one might expect. The frogs are nested in different areas of the evolutionary tree, with separate sister species, according to the genetic analysis. However, Koch notes that more data is needed to confirm the exact relationships. With more research, additional surprises are likely to emerge. At least one more possible new species was collected in the recent surveys, Koch says. He and his colleagues just have to finish their assessment to know for sure. Beyond what's already been found, Koch imagines that many more unidentified amphibians are lurking in similarly difficult to access corners of the Amazon. The hard part is getting to them before they're gone. Deforestation, climate change, increasingly frequent wildfires, and pet trade poaching all threaten poison dart frogs. The frogs of these two new studies were collected across two expeditions in 2023 and 2024. In just that one year gap, Koch says his colleagues noted a big change, with clear cuts and deforestation moving much closer to the amphibians' scientists currently don't have enough information to know exactly how secure or at-risk either species is. Yet, given that they found each amphibian in a small range, spotted across just a couple of miles of forest, it seems likely that the toxic frogs themselves are in much more danger than their poison poses to their predators. Losing them would mean losing two especially beautiful branches on the tree of life. It would also stymie our ability to harness their potential power. Chemicals from the skin of specific dart frogs have shown promise as possible medicines. 'It's a long road,' from discovering a species to discovering its potential human applications, says Koch. 'Someday, they might be useful,' he says. But, to get there, we have to let the frogs stick around.
New Straits Times
13-05-2025
- New Straits Times
Locals could earn from rare Rafflesia bloom visits
KOTA KINABALU: Local communities could lead guided Rafflesia tours and earn income while preserving biodiversity. A tour company managing director Albert Teo said the flower's rarity and brief blooming period make it highly appealing to eco-conscious travellers. "There are already Rafflesia species growing close to kampungs. This is a chance for locals to generate income while protecting a fragile part of their natural heritage." "With basic infrastructure and proper training, communities could host visitors through guided treks, supported by simple facilities like trails and information signage," he said during a meeting with Assistant Tourism, Culture and Environment Minister Datuk Joniston Bangkuai. Teo proposed forming a Rafflesia community alliance to link villages near known Rafflesia sites. Joniston, who is also chairman of the Sabah Tourism Board, welcomed the idea, saying the state supports community-driven tourism, particularly those rooted in nature and culture. "Rafflesia has always been an iconic feature of Sabah's biodiversity. It's time we map out areas where kampungs can responsibly benefit from this rare flower," he said. He said the board could identify existing Rafflesia sites near villages, especially in Tambunan, Ranau and along the Crocker Range. "Empowering locals will promote long-term conservation. When people see value in protecting something, they take ownership of it, and that builds both community pride and sustainability. This is in line with our Culture, Adventure, and Nature (CAN) approach to tourism development," he said. Sabah hosts three of the world's 15 known Rafflesia species: R. keithii, R. pricei and R. tengku-adlinii. Rafflesia keithii is the largest species in Sabah, while R. tengku-adlinii is the rarest, named after Datuk Seri Tengku Zainal Adlin Tengku Mohamood, a key figure in Sabah's tourism and conservation efforts.
