Latest news with #RobertHudson
Yahoo
19 hours ago
- General
- Yahoo
Father and son rescued after boat sinks off Virginia Beach coast
VIRGINIA BEACH, Va. (WAVY) – The Coast Guard rescued a father and son 34 miles southwest of Virginia Beach Thursday morning. 30-year-old Jeffery Hudson was rescued alongside his father 60-year-old Robert Hudson after their sporting boat began to take on water, causing the boat to sink. At 9:07 a.m. Thursday, Coast Guard Sector Virginia Command Center watchstanders received a distress call from the crew of the 57-foot sport fisher boat Turn Me Loose, reporting their vessel was sinking and they were abandoning ship into their life raft. The watchstanders issued an urgent marine information broadcast (UMIB) which led to the dispatch of a 45-foot Response Boat (Coast Guard Station Little Creek), a Jayhawk helicopter crew (Coast Guard Air Station Elizabeth City MH-60), and patrol (USCGC Pompano WPD 87339). The crew of USCGC Calhoun (WMSL 759) and Virginia Beach Fire Boat 12 also responded after hearing the UMIB. The Coast Guard was able to pinpoint the location with the boaters' help. At 10:03 a.m., the Calhoun crew and a rescue helicopter arrived on scene to find the two men in a life raft. The Calhoun crew brought the men to safety and determined neither had any injuries. The men were ultimately brought to Virginia Beach Fire Boat 12, where they were reunited with their family. 'This successful rescue highlights the importance of preparedness and the effectiveness of coordinated efforts between multiple agencies and assets,' said Chief Warrant Officer 3 Daniel Butierries, Sector Virginia command duty officer. 'The quick response and the mariners' preparedness significantly contributed to the rescue.' The Turn Me Loose remains partially submerged approximately 30 miles off the coast of Virginia Beach. The Coast Guard has issued a broadcast notice to advise mariners to avoid the submerged object. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Miami Herald
a day ago
- General
- Miami Herald
Dad and son abandon sinking boat 30 miles off Virginia coast, rescuers say
A father and son abandoned a fishing vessel that began sinking about 30 miles off the Virginia coast, officials said. Officials received a distress call just after 9 a.m. Thursday, June 12, reporting that the crew of the 57-foot sport fisher was evacuating using a life raft after the boat started taking on water, the United States Coast Guard said in a June 12 news release. The Coast Guard was able to locate and rescue Robert Hudson, 60, and his son Jeffrey Hudson, 30, after they activated their Emergency Position Indicating Radio Beacon, officials said. A rescue helicopter found the men at about 10 a.m., and they were reunited with family members after a medical evaluation, officials said, adding that no one was injured. 'The quick response and the mariners' preparedness significantly contributed to the rescue,' Chief Warrant Officer 3 Daniel Butierries, Sector Virginia command duty officer, said in the release. As of June 12, the ship was still partially sunken about 30 miles off the coast of Virginia Beach, and a broadcast notice was issued telling mariners to avoid the area, according to officials.
Yahoo
a day ago
- General
- Yahoo
The one item that helped save a father and son from their doomed boat
VIRGINIA BEACH, Va. - Two boaters were rescued Thursday after their vessel began taking on water 34 miles off the coast of the mid-Atlantic, and the U.S. Coast Guard said the use of their Emergency Position Indicating Radio Beacon (EPIRB) may have made the difference. According to the agency, a father-and-son duo were aboard the 57-foot sport fishing vessel named "Turn Me Loose" when the boat began taking on water off the coast of Virginia Beach. The boaters' EPIRB transmitted their exact position to first responders, who were able to arrive at the site less than an hour after receiving the first distress call. Upon arrival, rescue crews said they found 30-year-old Jeffrey Hudson and 60-year-old Robert Hudson adrift in an emergency life raft. Both men were successfully transported to the USCGC Calhoun, where they underwent medical evaluations before being taken to shore. Us Coast Guard Unveils First Polar Icebreaker In More Than 25 Years Following their arrival in Virginia Beach, the two men were reunited with relieved family members. Coast Guard leadership praised the quick response, which involved at least half a dozen boats and aviation units from around the region. "This successful rescue highlights the importance of preparedness and the effectiveness of coordinated efforts between multiple agencies and assets," Daniel Butierries, a chief warrant officer with the U.S. Coast Guard, said in a statement. "The quick response and the mariners' preparedness significantly contributed to the rescue." The agency highlighted the use of the EPIRB and other lifesaving equipment, which all marine vessels should have while venturing offshore. The Coast Guard did not say what caused the vessel to start taking on water or if weather played a role. World's Largest Iceberg On Possible Collision Course With Island In South Atlantic Ocean The boat remains partially submerged more than 30 miles offshore, which could be hazardous to unalert mariners. The Coast Guard said it is broadcasting alerts to boaters in the area in an effort to help them stay clear of the debris and prevent a collision. It remains unclear if the boat's owner will attempt a salvage operation or if the vessel will simply sink to the bottom of the Atlantic Ocean before such an effort article source: The one item that helped save a father and son from their doomed boat
Yahoo
16-05-2025
- Business
- Yahoo
Grainger PLC (GRGTF) (H1 2025) Earnings Call Highlights: Strong Rental Income and Strategic ...
Net Rental Income Growth: 15% increase, supported by 4.4% like-for-like rental growth. EPRA Earnings Growth: 23% increase, leveraging operational platform. Dividend Growth: 12% increase in dividend per share. Occupancy Rate: 96%, considered full occupancy. Customer Retention: High at 62%. Net Tangible Assets (NTA): GBP 3 per share, up 1%. Adjusted Earnings: Up 13% to GBP 50.1 million. Operational Cash Flow: Over GBP 200 million annually. Net Debt: GBP 1.475 billion, with LTV at 38.5%. Build to Rent Portfolio: Valued at over GBP 2.8 billion, comprising 9,689 homes. Pipeline of Homes: 4,565 homes, expected to significantly boost earnings. Asset Recycling: GBP 549 million delivered over the last 2.5 years. Interest Costs: Increased due to higher average debt levels. Future Earnings Growth: 50% growth in EPRA earnings by FY 2029. REIT Conversion: Expected to generate GBP 15 million savings in the first year. Warning! GuruFocus has detected 5 Warning Signs with GRGTF. Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Grainger PLC (GRGTF) reported a 15% growth in net rental income, supported by strong like-for-like rental growth of 4.4%. The company achieved a 23% increase in EPRA earnings, demonstrating strong operational leverage. Grainger PLC (GRGTF) plans to convert to a REIT, which is expected to generate GBP 15 million in tax savings in the first year alone. The company maintains a strong balance sheet with liquidity and a robust hedging profile, with no major refinancing needs until 2029. Grainger PLC (GRGTF) has a substantial pipeline of over 4,565 homes, which is expected to drive significant earnings growth in the coming years. Interest costs have increased due to higher average levels of debt in the first half of the year. Overhead costs rose by 4% in the half year, in line with wage inflation. The company's net asset value (NTA) grew by only 1% during the period, reflecting modest valuation growth. The UK housing market faces severe undersupply, with planning consents and housing starts falling, which could impact future growth. Grainger PLC (GRGTF) faces rising construction cost inflation, although it mitigates this risk through fixed-price contracts. Q: Can you explain how you achieve the 3.5% income return in your 8% Total Accounting Return (TAR) given the impact of leverage and costs? A: Robert Hudson, CFO, explained that the 3.5% income return is based on their 5-year earnings bridge, with 50% growth in earnings locked in despite higher interest costs. The compounding benefits of scale on their platform and tightly controlled central costs contribute to this return. Q: Does the 8% TAR include maintenance CapEx, or should that be deducted? A: Robert Hudson confirmed that ongoing maintenance and refreshment costs are fully expensed as they go, factored into their 25% gross-to-net yield, making it a fully expensed net yield. Q: Are there changes in the sources of capital for investment activities? A: Helen Gordon, CEO, noted new entrants in the market, including private equity, alongside traditional institutions and sovereign wealth funds, driving investment demand. Residential investment has maintained value compared to other real estate asset classes. Q: How do you view the outlook for yields, and have we reached a period of stabilization? A: Helen Gordon mentioned that yields are at historic highs, and while they have been stable for a couple of years, they are still grouped with other real estate asset yields. She emphasized the stability and attractiveness of residential yields. Q: What is the timeline for the secured pipeline to transition into the committed pipeline? A: Helen Gordon explained that the committed pipeline is already on-site with GBP 166 million of CapEx remaining. The secured pipeline has planning consent and controlled land, with ongoing improvements to planning and regulatory compliance. Q: Are you seeing any urgency to start development in London, and how have you avoided building safety issues? A: Helen Gordon highlighted the lack of housing starts in London and the positive reception for build-to-rent projects. Michael Kenny noted that their timeline allowed them to redesign schemes to meet the latest fire safety regulations, avoiding regulatory bottlenecks. Q: What are you observing regarding construction cost inflation? A: Michael Kenny stated that their fixed-price contracts mitigate the impact of inflation. They regularly rebase cost plans and are seeing tenders coming in at or below estimates, indicating moderated inflation levels. Q: How do you plan to allocate your GBP 1.1 billion firepower between pipeline and stabilized acquisitions? A: Helen Gordon explained that they match CapEx with asset recycling, maintaining values without write-downs. They evaluate returns on an IRR basis, considering immediate rental uplift from stabilized acquisitions versus development returns. Q: How do you plan to mitigate cost inflation as rent growth momentum decelerates? A: Helen Gordon and Eliza Pattinson emphasized their in-house operational platform, cluster efficiencies, procurement, and void management to manage gross-to-net effectively, absorbing costs within their 25% gross-to-net yield. Q: Is the FY '26 EPRA earnings guidance conservative, or is there a potential drag on earnings? A: Robert Hudson clarified that the guidance accounts for strong growth and is based on the committed pipeline alone. Seasonal cost weighting and lumpiness in management fees prevent simple annualization of first-half numbers. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
