Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Arrow Electronics Q2 2025 Earnings Call - Signs of modest recovery taking flight
Arrow beat the quarter, but the victory comes with caveats. Consolidated Q2 sales were $7.6 billion and non-GAAP EPS was $2.43, both above guidance, driven by a first year‑over‑year sales increase in ...
- Consolidated Q2 sales $7.6 billion, above guidance, up 10% reported and up 8% on a constant currency basis.
- Non‑GAAP diluted EPS $2.43, above guided range, helped by favorable sales mix and a lower-than-normal tax rate in the quarter.
- Global Components sales $5.3 billion, above guidance, marking the first year‑over‑year growth in GC since Q4 2022.
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Citigroup Q3 2025 Earnings Call - Broad-based revenue gains, Banamex 25% stake accelerates exit and boosts buybacks
Citi delivered a convincingly operational quarter: $22.1 billion of revenue (up 9%), $3.8 billion net income ($1.86 EPS) and adjusted results of $4.5 billion ($2.24 EPS) with adjusted ROTC near 9.7%. ...
- Net income of $3.8 billion, GAAP EPS $1.86; adjusted net income $4.5 billion and adjusted EPS $2.24 after excluding the Banamex goodwill impairment.
- Total revenues $22.1 billion, up 9% year over year; every business delivered record third-quarter revenue and positive operating leverage across all five segments.
- Adjusted ROTC 9.7% for the quarter (reported ROTC 8%); management is targeting a 10% to 11% ROTC for 2026.
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NewMarket Corporation Q2 2025 Earnings Call - AMPAC lifts specialty growth as additives face shipment erosion
NewMarket posted a flat quarter on the surface, with Q2 net income of $111 million, $11.84 per share, roughly unchanged from a year earlier, while first half net income hit a record $237 million, $25....
- Q2 2025 net income: $111 million, $11.84 per share, essentially flat versus Q2 2024 ($112 million, $11.63).
- First half 2025 delivered a record $237 million net income, $25.11 per share, up from $219 million and $22.87 in H1 2024.
- Petroleum additives sales fell to $654 million in Q2 2025 from $670 million a year ago; operating profit declined to $140 million from $148 million.
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Matson Q2 2025 Earnings Call - Raised Full-Year Outlook While China Volumes Slump
Matson beat near-term expectations in Q2 2025 and raised its full-year outlook despite a pronounced drop in China volumes driven by tariff-related disruption. Management stressed service differentiati...
- Matson raised its full-year 2025 outlook after Q2 results exceeded expectations, but said the raise assumes tariffs, trade regulation and the U.S. economy do not materially worsen.
- Q2 consolidated operating income was $113.0 million, down $11.6 million year over year, driven by lower ocean transportation and logistics contributions.
- China service container volume fell 14.6% year over year in Q2 2025, the largest trade-lane headwind cited by management and tied to tariff-driven demand swings.
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CVR Energy Q2 2025 Earnings Call - RIN Mark-to-Market Turns a Strong Refining Quarter into a Loss
CVR reported a consolidated net loss of $90 million in Q2 2025, driven largely by an $89 million negative mark-to-market on its outstanding RIN obligation and a $32 million unfavorable inventory valua...
- Consolidated net loss of $90 million, loss per share $1.14, and EBITDA loss of $24 million for Q2 2025.
- Adjusted EBITDA excluding RIN MTM, inventory valuation and unrealized derivative losses was $99 million, and adjusted loss per share was $0.23.
- Negative RIN mark-to-market impact totaled $89 million in the quarter, plus an unfavorable inventory valuation impact of $32 million and unrealized derivative losses of $2 million.
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AMH Q2 2025 Earnings Call - Guidance Raised as Lease-Expiry Strategy Flattens Seasonal Curve and Boosts Revenue
AMH reported a strong Q2 driven by operational execution, development deliveries, and a focused revenue optimization program. Management raised full year core FFO per share guidance to a $1.86 midpoin...
- AMH raised full year core FFO per share guidance by $0.03 to a $1.86 midpoint, implying 5.1% year over year growth at the midpoint.
- Lease expiration management initiative shifted expirations from ~50/50 H1/H2 to ~60/40, expected to flatten the seasonal leasing curve and reduce new-lease deceleration from ~600 bps in 2024 to ~150 bps in 2025.
- Q2 same-home results: average occupied days 96.3%, new/renewal/blended rental rate spreads 4.1%/4.4%/4.3%, same-home core revenue growth 3.9%, same-home core NOI growth 4.1%, core operating expense growth 3.6%.
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NorthWestern Energy Group Second Quarter 2025 Earnings Call - Guidance Set as Colstrip Flip and Data Center Pipeline Recasts Growth Outlook
NorthWestern reported a muted Q2 with GAAP EPS $0.35 and adjusted EPS $0.40, down from last year as timing of interim rate relief and weather weighed on results. Management initiated 2025 non-GAAP gui...
- Q2 GAAP EPS $0.35, adjusted non-GAAP EPS $0.40, down from $0.52/$0.53 in prior year due mainly to timing of interim rate decisions and weather impacts.
- Launched 2025 non-GAAP EPS guidance of $3.53 to $3.65; guidance assumes revenue recognition consistent with the company’s settlement positions and a final Montana decision likely in Q4, retroactive to May 23.
- Reaffirmed long-term targets: 4% to 6% rate base and EPS growth, supported by a five-year capital plan of about $2.75 billion, with roughly 80% in transmission and distribution.
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Antero Midstream 2Q 2025 Earnings Call - Reuse Savings and Rising Free Cash Flow Cut Costs, Lower Leverage to 2.8x
Antero Midstream closed 2Q with stronger-than-expected operational throughput and cash generation. Q2 EBITDA rose to $284 million, driven by record gathering and processing volumes, and free cash flow...
- Q2 2025 adjusted EBITDA was $284 million, an 11% increase year over year, driven by record gathering and processing volumes.
- Free cash flow after dividends was $82 million in Q2, roughly a 90% increase year over year, used for share repurchases and debt reduction.
- Leverage declined to 2.8 times as of June 30, reflecting active debt paydown from free cash flow.
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Antero Resources Q2 2025 Earnings Call - Maintenance CapEx Down 26%, 20% Hedged and Break-even Cut to $1.75
Antero leaned into capital efficiency and downside protection this quarter, trimming maintenance CapEx while locking hedges that materially lower its cash‑flow breakeven. Management highlighted a 26% ...
- Maintenance CapEx declined 26% since 2023, from $900 million to $663 million, while maintenance production target rose about 5% (from under 3.3 Bcf‑equiv/day to over 3.4 Bcf‑equiv/day).
- Antero reports the lowest maintenance CapEx per MCFE in its peer group at $0.53, roughly 27% below the peer average of $0.73 per MCFE.
- The company has hedged approximately 20% of expected natural gas volumes through 2026 using wide costless collars with a floor near $3.14 and a ceiling near $6.31.
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Cullen/Frost Bankers, Inc. Q2 2025 Earnings Call - Expansion finally tipping to accretion while competition and multifamily stress demand watchful eyes
Cullen/Frost delivered a solid Q2 with $155.3 million in net income, loan growth outpacing deposits, and clear evidence that its multi-year branch expansion is achieving scale. Management says the exp...
- Q2 2025 net income $155.3 million, $2.39 per share, up from $143.8 million and $2.21 a year ago.
- Return on average assets 1.22% and ROE 15.64% in Q2, versus 1.18% and 17.08% in the year-ago quarter.
- Average loans grew to $21.1 billion, up 7.2% year over year; average deposits $41.8 billion, up 3.1% year over year.
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