Latest news with #ToddGarner
Forbes
9 hours ago
- Business
- Forbes
The Smart Revolution In US Oil and Gas
AI is poised to provide the US oil and gas industry with powerful tools to operate more intelligently, safely, and sustainably. getty Artificial intelligence (AI) is essentially about making computers think and learn like humans to solve complex problems. In the U.S. oil and gas industry, this could become a game-changer. One key area is predictive maintenance. Imagine having a super-smart system that constantly monitors all the equipment – pumps, pipelines, and drilling rigs – using sensors that collect tons of data. AI algorithms could analyze this massive amount of data to find subtle patterns that humans might miss. These patterns could indicate that a piece of equipment is starting to wear down or might fail soon. By identifying these problems early, companies could schedule maintenance proactively, before a breakdown happens. This could avoid costly emergency repairs, reduce downtime (when operations have to stop), and extend the life of expensive equipment. It's like having a crystal ball for their machinery, leading to significant cost savings and better management of their assets. On a recent phone call with Todd Garner, CEO of PINN-AI, he told me, 'At PINN AI, we're building the brain of the subsurface — using AI to see what humans can't, at speeds they never could.' Beyond just fixing things, AI presents an opportunity to revolutionize operational efficiency. Think about all the complex processes involved in getting oil and gas out of the ground, from drilling to refining. AI could analyze real-time data from all these stages and identify ways to optimize how things are done. For example, it could fine-tune drilling parameters to drill faster and more accurately, or it could optimize the flow of oil and gas through pipelines to reduce energy consumption. This intelligent optimization could lead to less wasted energy, reduced waste products, and a more effective use of resources overall, which is both economically sound and possibly better for the environment. Garner highlights the data-rich but insight-limited nature of the industry, stating, "Oil and gas has no shortage of data — just a shortage of time and people to make sense of it. PINN AI (through Well Intel AI) bridges that gap with industrial-scale intelligence." Furthermore, AI is making the development of energy resources more responsible. Finding the right places to drill is a complex task involving analyzing huge amounts of geological data. Advanced AI algorithms could sift through this data much more effectively than humans, potentially leading to more accurate predictions of where oil and gas deposits are likely to be. This means fewer unproductive wells could be drilled, which would minimize the environmental impact of exploration. In the production phase, AI could continuously monitor and adjust operational settings to maximize the amount of oil and gas recovered from a well while strictly adhering to safety regulations and environmental protection measures. According to Garner, the goal is to empower human experts. "Our goal isn't to replace the geologist or engineer — it's to supercharge them. Think of it as Iron Man's suit for technical teams in oil and gas," he said. For oil and gas companies in the US, adopting AI offers some promising advantages: In essence, AI is poised to provide the US oil and gas industry with powerful tools to operate more intelligently, safely, and sustainably. AI is on track to help them be more competitive and environmentally conscious in the long run. It's about using smart technology to make a complex industry work better. As Garner concludes, "At PINN AI, we're not trying to replace expertise — we're trying to unlock it. Our job is to make the work of subsurface teams faster, more accurate, and more scalable."
Yahoo
01-05-2025
- Business
- Yahoo
Conmed Corp (CNMD) Q1 2025 Earnings Call Highlights: Strong Financial Performance Amid Supply ...
Total Sales: $321.3 million, a year-over-year increase of 2.9% as reported and 3.8% in constant currency. Adjusted Net Income: $29.6 million, an increase of 19.6% year-over-year. Adjusted Diluted EPS: $0.95, an increase of 20.1% year-over-year. Orthopedics Sales Growth: 3.9% in constant currency; U.S. sales decreased 2.1%, international sales increased 7.9%. General Surgery Sales Growth: 3.8% in constant currency; U.S. sales grew 6.9%, international sales decreased 3.3%. Adjusted Gross Margin: 56.4%, 80 basis points higher than the prior year quarter. Research and Development Expense: 4.0% of sales, 40 basis points lower than the prior year quarter. Adjusted SG&A Expenses: 38.7% of sales, consistent with the prior year. Interest Expense: $6.8 million in the first quarter. Adjusted Effective Tax Rate: 23.1%. Cash Flow from Operations: $41.5 million compared to $29.1 million in the first quarter of 2024. Capital Expenditures: $3.8 million compared to $2.0 million a year ago. Long-term Debt: $891.4 million at the end of the quarter. Leverage Ratio: 3.2x as of March 31. Full Year Revenue Guidance: $1.35 billion to $1.378 billion. Full Year Adjusted EPS Guidance: $4.45 to $4.60, excluding tariffs. Warning! GuruFocus has detected 4 Warning Signs with HCC. Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Conmed Corp (NYSE:CNMD) reported a year-over-year sales increase of 2.9% as reported and 3.8% in constant currency, slightly exceeding guidance. Adjusted net income increased by 19.6% year-over-year, with adjusted diluted net earnings per share rising by 20.1%. The company received FDA clearance for a new delivery device for BioBrace in rotator cuff repair, which is expected to enhance surgical procedures. Strong demand was noted for BioBrace, with double-digit sales growth in foot and ankle products and significant clinical adoption. Conmed Corp (NYSE:CNMD) is making progress in supply chain initiatives, with a decline in the number of SKUs on backorder and expectations for further improvements by year-end. Supply chain challenges persist, particularly affecting the orthopedics segment in the U.S., where sales decreased by 2.1%. International general surgery sales declined by 3.3%, attributed to weaknesses in energy and critical care product lines. The company faces potential tariff impacts, with an estimated $5.5 million exposure in 2025, primarily from China. Adjusted gross margin improvements are expected to be delayed, with significant benefits not materializing until 2026. Despite a positive quarter, the company maintained its full-year revenue growth guidance at 4% to 6%, indicating caution amid macroeconomic uncertainties. Q: Can you explain why the full-year guidance was raised by less than the Q1 beat, especially considering FX improvements? A: Todd Garner, CFO, explained that there is no softness in the market to worry about. The company guided for 4% to 6% constant currency growth, and Q1 results were in line with this. The guidance was adjusted only for currency improvements, not operational changes. Q: What has surprised you, both good and bad, since becoming CEO? A: Patrick Beyer, CEO, stated that nothing negative has surprised him due to his prior 10-year tenure at the company. Positively, he has been impressed by the passion of the CONMED team and the strong customer embrace of their technology. Q: Can you clarify the tariff impact and mitigation strategies? A: Todd Garner, CFO, noted that the major tariff concern from Mexico is resolved, leaving China as the primary issue. Mitigation strategies include adjusting logistics to avoid U.S. tariffs, considering price adjustments, and exploring vendor changes, though these are slower due to regulatory constraints. Q: Could you expand on supply chain improvements and their impact, particularly regarding BioBrace? A: Patrick Beyer, CEO, highlighted three focus areas: procurement, production planning, and production itself. Progress has been made, especially in implant products, with key portfolios coming off backorder. BioBrace had a strong quarter with significant clinical advancements and FDA clearance for a new device. Q: What is the long-term growth potential once supply chain issues are resolved? A: Patrick Beyer, CEO, indicated that the company operates in fast-growing markets and aims for 4% to 9% growth. The goal is to achieve higher growth by addressing supply chain issues and leveraging their four key growth drivers. 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
