Treace Highlights New Innovations at the 2025 ACFAS Annual Scientific Conference

Expands market-leading position with new best-in-class bunion technologies

PONTE VEDRA, Fla., March 25, 2025 (GLOBE NEWSWIRE) — Treace Medical Concepts, Inc. (“Treace” or the “Company”) (NasdaqGS: TMCI), a medical technology company driving a fundamental shift in the surgical treatment of bunions and related midfoot deformities through its flagship Lapiplasty® and Adductoplasty® Procedures, today announced new technology innovations featured at the 2025 American College of Foot and Ankle Surgeons (“ACFAS”) Annual Scientific Conference in Phoenix, Arizona from March 27-30, 2025.

“We are excited to have another strong presence at ACFAS, highlighting our commitment to surgical podiatry and advancing our company’s focused mission to improve surgical outcomes for bunion patients.” said John T. Treace, CEO, Founder and Board Member of Treace. “We will showcase several new innovations in our expanding and comprehensive bunion portfolio and also look forward to sharing compelling clinical evidence on our flagship Lapiplasty® and Adductoplasty® procedures during podium presentations.”

Treace will feature next-generation technologies at its ACFAS exhibit booth and host surgeon training events on these innovations, including:

  • Latest advancements in our flagship Lapiplasty® and Adductoplasty® platforms; Micro-Lapiplasty™ and Mini-Adductoplasty™ further enabled by our new SpeedPlate™ MicroQuad™ implant, delivering robust, stable fixation for these small incision approaches.
  • Our two new 3D minimally invasive (MIS), instrumented and reproducible osteotomy systems: Nanoplasty™ is designed to expand and accelerate surgeon access to MIS osteotomies and is performed through a small, hidden incision on the side of the foot; and Percuplasty™ is designed to increase reproducibility and speed of percutaneous MIS osteotomy approaches, setting a new standard for surgeons who prefer this approach. Both systems are complemented by our new SpeedAkin™ implant used in Akin osteotomy procedures, which are typically performed in conjunction with MIS osteotomies.
  • SpeedMTP™ provides surgeons with a unique and efficient fusion option to address bunion patients with arthritic great toe (MTP) joints. SpeedMTP™ combines our market leading SpeedPlate™ compression fixation technology with our Fastpitch™ locking screws to deliver an ultra-low profile and highly stable implant designed to support early weight bearing for these patients.
  • IntelliGuide™ PSI cut guides for Lapiplasty® and Adductoplasty® are a first and only in the market, uniquely offering surgeons a pre-op plan, patient specific 3D-printed cut guide and Bone Clone™ anatomic foot model, all produced from the patient’s CT-scan. Our IntelliGuide™ PSI platform is leading a new era of personalized solutions for bunion and midfoot deformity corrections.  

Internet Posting of Information

Treace routinely posts information that may be important to investors in the “Investor Relations” section of its website at www.treace.com. The Company encourages investors and potential investors to consult the Treace website regularly for important information about Treace.

About Treace Medical Concepts

Treace Medical Concepts, Inc. is a medical technology company with the goal of advancing the standard of care for the surgical management of bunion and related midfoot deformities. Bunions are complex 3-dimensional deformities that originate from an unstable joint in the middle of the foot and affect approximately 67 million Americans, of which Treace estimates 1.1 million are annual surgical candidates. Treace has pioneered and patented the Lapiplasty® 3D Bunion Correction® System – a combination of instruments, implants, and surgical methods designed to surgically correct all three planes of the bunion deformity and secure the unstable joint, addressing the root cause of the bunion and helping patients get back to their active lifestyles. To further support the needs of bunion surgeons and address the four classes of bunions, Treace has introduced its Adductoplasty® Midfoot Correction System, designed for reproducible surgical correction of midfoot deformities, the SpeedMTP™ Rapid Compression Implant for addressing bunions through big toe joint fusions, and two systems for minimally invasive osteotomy surgeries: the Nanoplasty™ 3D Minimally Invasive Bunion Correction System and the Percuplasty™ Percutaneous 3D Bunion Correction System. The Company continues to expand its footprint in the foot and ankle market with the introduction of its SpeedPlate™ Rapid Compression Implants, an innovative fixation platform with broad versatility across Lapiplasty®, Adductoplasty® and SpeedMTP™ procedures, as well as other common bone fusion procedures of the foot. For more information, please visit www.treace.com.

To learn more about Treace, connect with us on LinkedInXFacebook and Instagram.

Contacts:

Treace Medical Concepts

Mark L. Hair
Chief Financial Officer
[email protected]
(904) 373-5940

Investors:
Gilmartin Group
Vivian Cervantes
[email protected]



Stryker announces Annual Meeting of Shareholders

Portage, Michigan, March 25, 2025 (GLOBE NEWSWIRE) — Stryker (NYSE:SYK) announced its 2025 Annual Meeting of Shareholders is scheduled as follows:

Thursday, May 8, 2025 – 9:30 a.m. Eastern Time

The Meeting will be held virtually via the internet. Information about the webcast, which will include both the audio and the slide presentation from the meeting, is available on the Investor Relations page of our website at www.investorevents.stryker.com. To listen to the meeting as a guest dial (877) 328-2502 (U.S.) or (412) 317-5419 (International) and request the “Stryker Corporation Annual Meeting” when greeted by the operator.

A recording of the annual meeting will also be available from 10:30 a.m., Eastern Time, on Friday, May 9, 2025 at www.virtualshareholdermeeting.com/SYK2025 until the definitive proxy statement for our 2026 Annual Meeting of Shareholders is filed with the United States Securities and Exchange Commission.

About Stryker

Stryker is a global leader in medical technologies and, together with our customers, we are driven to make healthcare better. We offer innovative products and services in MedSurg, Neurotechnology and Orthopaedics that help improve patient and healthcare outcomes. Alongside our customers around the world, we impact more than 150 million patients annually. More information is available at www.stryker.com.

Contacts

For investor inquiries:

Jason Beach, Vice President, Finance and Investor Relations at 269-385-2600 or [email protected]

For media inquiries:
Kim Montagnino, Vice President, Chief Communications Officer at 269-385-2600 or [email protected]



ARMOUR Residential REIT, Inc. Announces Guidance for April 2025 Dividend Rate Per Common Share

VERO BEACH, Florida, March 25, 2025 (GLOBE NEWSWIRE) — ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR-PRC) (“ARMOUR” or the “Company”) today announced guidance on the April 2025 cash dividend for the Company’s Common Stock of $0.24 per Common share.

April 2025
Common Stock Dividend Information

Month   Dividend   Holder of Record Date   Payment Date
April 2025   $0.24   April 15, 2025   April 29, 2025

Certain Tax Matters

ARMOUR has elected to be taxed as a real estate investment trust (“REIT”) for U.S. Federal income tax purposes. In order to maintain this tax status, ARMOUR is required to timely distribute substantially all of its ordinary REIT taxable income. Dividends paid in excess of current tax earnings and profits for the year will generally not be taxable to common stockholders. Actual dividends are determined at the discretion of the Company’s board of directors, which may consider additional factors including the Company’s results of operations, cash flows, financial condition and capital requirements as well as current market conditions, expected opportunities and other relevant factors.

About ARMOUR Residential REIT, Inc.

ARMOUR invests primarily in fixed rate residential, adjustable rate and hybrid adjustable rate residential mortgage-backed securities issued or guaranteed by U.S. Government-sponsored enterprises or guaranteed by the Government National Mortgage Association. ARMOUR is externally managed and advised by ARMOUR Capital Management LP, an investment advisor registered with the Securities and Exchange Commission (“SEC”).

Safe Harbor

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. The Company disclaims any obligation to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Additional Information and Where to Find It

Investors, security holders and other interested persons may find additional information regarding the Company at the SEC’s internet site at www.sec.gov, or the Company website at www.armourreit.com, or by directing requests to: ARMOUR Residential REIT, Inc., 3001 Ocean Drive, Suite 201, Vero Beach, Florida 32963, Attention: Investor Relations.

Investor Contact:

Gordon Harper
Chief Financial Officer
ARMOUR Residential REIT, Inc.
(772) 617-4340



Xylem to Release First Quarter 2025 Financial Results on April 29, 2025

Xylem to Release First Quarter 2025 Financial Results on April 29, 2025

WASHINGTON–(BUSINESS WIRE)–
Xylem Inc. (NYSE: XYL), a leading global water solutions company that empowers customers and communities to build a more water-secure world, will release its first quarter 2025 results at 6:55 a.m. (ET) on April 29, 2025. At 9:00 a.m. (ET), Xylem’s senior management team will host a conference call with investors.

The call can be accessed by calling +1 (866) 777-2509 (US) or +1 (412) 317-5413 (INTL) or by visiting Investors Events | Xylem US.

A replay of the briefing will be available on Investors Events | Xylem US and via telephone from April 29, 2025, 1:00 p.m. (ET) until May 13, 2025, at 11:59 p.m. (ET). The telephone replay will be available at +1 (877) 344-7529 or +1 (412) 317-0088 (INTL) (Access Code #9566520)

About Xylem

Xylem (XYL) is a Fortune 500 global water solutions company that empowers customers and communities to build a more water-secure world. Our 23,000 diverse employees delivered revenue of $8.6 billion in 2024, optimizing water and resource management with innovation and expertise. Join us at www.xylem.com and Let’s Solve Water.

Houston Spencer (Media)

+1 (914) 240-3046

[email protected]

Keith Buettner (Investors)

+1 724-772-1531

[email protected]

KEYWORDS: United States North America District of Columbia

INDUSTRY KEYWORDS: Energy Natural Resources Utilities Other Natural Resources

MEDIA:

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Faraday Technology Selects Silvaco FlexCAN IP for Advanced Automotive ASIC Design

Faraday Technology Selects Silvaco FlexCAN IP for Advanced Automotive ASIC Design

SANTA CLARA, Calif.–(BUSINESS WIRE)–
Silvaco Group, Inc. (Nasdaq: SVCO) (“Silvaco” or the “Company”), a provider of TCAD, EDA software, and SIP solutions that enable innovative semiconductor design and digital twin modeling through AI software and automation, today announced that Faraday Technology Corporation (TWSE: 3035) a leading provider of ASIC design services, has selected Silvaco’s FlexCANIP to establish a robust networking backbone for its latest automotive ASIC design.

Silvaco’s FlexCAN controller is compliant with ISO 11898-1 and supports the CAN Flexible Data Rate (CAN-FD), which defines the parameters for digital information exchange between modules utilizing the CAN data link layer. The Controller Area Network (CAN) is a serial communication protocol that facilitates distributed real-time control and multiplexing within road vehicles. This protocol ensures connectivity across various subsystems, including body electronics, battery management, chassis, and powertrain modules.

“We are dedicated in automotive ASIC solutions to address the increasing market needs, focusing on delivering high-performance, and reliable networking capabilities for next-generation vehicles. Silvaco’s industry-proven FlexCAN IP efficiently supports our pursuit of innovation and excellence,” said C.H. Chien, Vice President of R&D at Faraday.

The FlexCAN controller serves as a critical component of the automotive networking architecture, delivering a reliable, high-speed multi-drop networking solution that is ideally suited for the rapidly expanding intelligent endpoints throughout the vehicle.

“The exponential increase in edge processing, distributed sensing, and overall electronic content within modern vehicles is undeniable,” said Ben Louie, VP & General Manager of the IP Business Unit at Silvaco. “FlexCAN serves as an essential backbone for automotive networking, and we’re pleased to be providing Faraday Technology with the advanced capabilities required for its automotive networking architectures.”

About Silvaco

Silvaco is a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and AI through software and innovation. Silvaco’s solutions are used for process and device development across display, power devices, automotive, memory, high-performance computing, photonics, internet of things, and 5G/6G mobile markets for complex SoC design. Silvaco is headquartered in Santa Clara, California, and has a global presence with offices located in North America, Europe, Brazil, China, Japan, Korea, Singapore, and Taiwan.

Media Relations:

Tiffany Behany, [email protected]

Investor Relations:

Greg McNiff, [email protected]

KEYWORDS: United States Taiwan North America Asia Pacific California

INDUSTRY KEYWORDS: Technology Semiconductor Automotive General Automotive Automotive Manufacturing Software Manufacturing Networks Electronic Design Automation Artificial Intelligence

MEDIA:

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Pebblebrook Hotel Trust Schedules First Quarter 2025 Earnings Release and Conference Call

Pebblebrook Hotel Trust Schedules First Quarter 2025 Earnings Release and Conference Call

BETHESDA, Md.–(BUSINESS WIRE)–
Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it will report its financial and operating results for the quarter ended March 31, 2025 on Thursday, May 1, 2025, after the market closes. The Company will conduct its quarterly conference call on Friday, May 2, 2025, at 9:00 AM ET.

To participate in the conference call, please follow the steps listed below:

On Friday, May 2, 2025, dial +1 (877) 407-3982 approximately ten minutes before the call begins (8:50 AM ET);

Tell the operator that you are calling for Pebblebrook Hotel Trust’s First Quarter 2025 Earnings Conference Call;

State your full name and company affiliation, and you will be connected to the call.

A live webcast of the Earnings Call will also be available through the Company’s website. To access, log on to http://www.pebblebrookhotels.com ten minutes prior to the call. A replay of the conference call webcast will be archived and available online through the Investor Relations section of http://www.pebblebrookhotels.com.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 46 hotels, totaling approximately 12,000 guest rooms across 13 urban and resort markets. For more information, visit www.pebblebrookhotels.com and follow @PebblebrookPEB.

Raymond D. Martz, Co-President and Chief Financial Officer, Pebblebrook Hotel Trust – (240) 507-1330

For additional information or to receive press releases via email, please visit

www.pebblebrookhotels.com

KEYWORDS: United States North America District of Columbia Maryland

INDUSTRY KEYWORDS: REIT Lodging Commercial Building & Real Estate Construction & Property Travel

MEDIA:

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TechnipFMC Awarded Major iEPCI™ Contract for Shell’s Gato do Mato Development Offshore Brazil

TechnipFMC Awarded Major iEPCI™ Contract for Shell’s Gato do Mato Development Offshore Brazil

NEWCASTLE & HOUSTON–(BUSINESS WIRE)–
TechnipFMC (NYSE: FTI) has been awarded a major(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Shell for its Gato do Mato greenfield development offshore Brazil.

In addition to integrated execution, the project will utilize Subsea 2.0® configure-to-order (CTO) subsea production systems. Combining both offerings will enable streamlined project management through a single interface and accelerate time to first oil.

Jonathan Landes, President, Subsea at TechnipFMC commented: “Throughout our 30-year partnership with Shell, we have built an overwhelmingly strong record of delivery. Our success in integrating and industrializing innovative solutions gives us the utmost confidence in providing the schedule certainty Shell requires for this flagship project offshore Brazil.”

(1) For TechnipFMC, a “major” contract is greater than $1 billion. This award will be included in inbound orders in the first quarter of 2025.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, including our assumptions and projections regarding the expected benefits of the awarded contract, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 21,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on X @TechnipFMC.

Investor relations

Matt Seinsheimer

Senior Vice President, Investor Relations and Corporate Development

Tel: +1 281 260 3665

Email: Matt Seinsheimer

James Davis

Director, Investor Relations

Tel: +1 281 260 3665

Email: JamesDavis

Media relations

David Willis

Senior Manager, Public Relations

Tel: +44 7841 492988

Email: David Willis

KEYWORDS: Brazil United States United Kingdom South America North America Latin America Europe Texas

INDUSTRY KEYWORDS: Commercial Building & Real Estate Manufacturing Construction & Property Maritime Other Energy Transport Other Manufacturing Oil/Gas Energy Engineering Other Construction & Property

MEDIA:

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Camden National Corporation Announces its First Quarter 2025 Dividend

PR Newswire


CAMDEN, Maine
, March 25, 2025 /PRNewswire/ — Simon R. Griffiths, President and Chief Executive Officer of Camden National Corporation (NASDAQ: CAC; the “Company”), announced today that the board of directors of the Company declared a quarterly dividend of $0.42 per share. This quarterly payout results in an annualized dividend yield of 4.0% based on the March 24, 2025 closing price of the Company’s common stock at $42.01 per share as reported by NASDAQ. The dividend is payable on April 30, 2025 to shareholders of record on April 15, 2025.

About Camden National Corporation

Camden National Corporation (NASDAQ: CAC) is Northern New England’s largest publicly traded bank holding company, with approximately $7.0 billion in assets. Founded in 1875, Camden National Bank has 73 branches in Maine and New Hampshire and is a full-service community bank offering the latest digital banking, complemented by award-winning, personalized service.* Additional information is available at CamdenNational.bank. Member FDIC. Equal Housing Lender.

Comprehensive wealth management, investment, and financial planning services are delivered by Camden National Wealth Management.

* Total assets and branch data reflect the completion on January 2, 2025, of Camden National Corporation’s previously announced merger with Northway Financial, Inc.

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/camden-national-corporation-announces-its-first-quarter-2025-dividend-302410770.html

SOURCE Camden National Corporation

Artesian Resources Corporation Reports 2024 Year-End Earnings and Fourth Quarter Results

NEWARK, Del., March 25, 2025 (GLOBE NEWSWIRE) — Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider on the Delmarva Peninsula of water and wastewater services, and a number of other related business services, today announced earnings results for the fourth quarter and year ended December 31, 2024.  

“I am pleased to report improved earnings in 2024 as we remain focused on critical investments in infrastructure and managing costs,” stated President and CEO, Nicholle Taylor. “In 2024 alone we invested $45.9 million in infrastructure, as we remain committed to providing customers with water and wastewater systems that are resilient and protective of public health and the environment.”



Year-End Results

Net income for the year ended December 31, 2024 was $20.4 million, a $3.7 million, or 22.1%, increase compared to net income recorded during the year ended December 31, 2023. Diluted net income per share was $1.98 compared to $1.67 for the same period in 2023.

Revenues totaled $108.0 million for the twelve months ended December 31, 2024, $9.1 million, or 9.2%, more than revenues for the twelve months ended December 31, 2023.

Water sales revenue increased $8.0 million, or 10.1%, primarily due to a rate increase placed into effect on November 28, 2023. In addition, there was an increase in overall water consumption and an increase in the number of customers served.   

Other utility operating revenue increased approximately $0.9 million, or 7.7%. This increase is primarily due to an increase in wastewater revenue associated with an increase in the number of customers served.

Non-utility operating revenue increased approximately $0.1 million, or 1.7%, primarily due to an increase in Service Line Protection Plan, or SLP Plan, revenue.

Operating expenses, excluding depreciation and income taxes, increased $4.1 million, or 7.3%. Utility operating expenses rose $3.6 million, or 7.8%, primarily the result of increases associated with supply and treatment, payroll and employee benefits, administrative, and transmission, distribution and collection systems costs.

Non-utility operating expenses increased $0.3 million, or 7.1%, primarily due to an increase in plumbing repair costs associated with the SLP Plans and an increase in payroll and employee benefits costs.

Depreciation and amortization expense increased $0.3 million, or 2.2%, primarily due to continued investment in utility plant providing supply, treatment, storage and distribution of water to customers and service to our wastewater customers.

Federal and state income tax expense increased $1.0 million, or 15.2%, primarily due to higher pre-tax income, lower state net operating loss valuation allowance, and higher regulatory deferred income tax amortization in 2024 compared to 2023.

Property and other taxes increased $0.2 million, or 3.6%, primarily due to an increase in New Castle County, Delaware tax rates on utility plant and an increase in utility plant subject to taxation. Property taxes are assessed on land, buildings and certain utility plant, which include the footage and size of pipe, hydrants and wells.  

Other income decreased $0.4 million, primarily due to a decrease in allowance for funds used during construction, or AFUDC, as a result of lower long-term construction activity subject to AFUDC for the twelve months ended December 31, 2024 compared to the same period in 2023.

Interest charges decreased $0.4 million, primarily due to a decrease in short-term debt interest related to lower borrowing levels on the Company’s lines of credit.

“Our 2024 financial results benefitted from settlement with the Delaware Public Service Commission of our 2023 rate filing to recover investments in water utility plant made over the prior nine years,” stated CFO, David Spacht. “However, on-going needed investments in infrastructure and rising costs, such as for energy and water treatment, continue to pressure our operating margins. The continued provision of reliable service and clean water to our customers is expected to necessitate timely filing for and recovery of needed investments in utility plant and increasing operational costs in rates.”



Fourth Quarter Results

Net income was $3.9 million, a $0.4 million, or 10.5%, increase compared to net income recorded for the three months ended December 31, 2023. Diluted net income per share was $0.37 compared to $0.34 for the same period in 2023.

Revenues totaled $26.8 million for the three months ended December 31, 2024, $2.3 million, or 9.4%, more than revenues for the three months ended December 31, 2023.

Water sales revenue increased $1.9 million, or 9.7%, primarily due to a rate increase placed into effect on November 28, 2023. In addition, there was an increase in overall water consumption and an increase in the number of customers served.

Other utility operating revenue increased approximately $0.4 million, or 11.4%. This increase is primarily due to an increase in wastewater revenue associated with an increase in the number of customers served.

Operating expenses, excluding depreciation and income taxes, increased $2.0 million, or 14.1%. Utility operating expenses rose $1.8 million, or 15.5%, primarily the result of increases associated with payroll and employee benefits, supply and treatment, transmission, distribution and collection systems and administrative costs.

Non-utility operating expenses increased $0.2 million, or 15.4%, primarily due to an increase in plumbing repair costs associated with the SLP Plans and an increase in payroll and employee benefits costs.

Federal and state income tax expense increased $0.1 million, or 11.9%, primarily due to higher pre-tax income, state net operating loss valuation allowance, and regulatory deferred income tax amortization in 2024 compared to 2023.

Other income increased $0.3 million, primarily due to an increase in AFUDC as a result of higher long-term construction activity subject to AFUDC.



Capital Expenditures

As part of Artesian’s ongoing effort to ensure high-quality reliable service to customers, $45.9 million was invested in water and wastewater infrastructure projects during 2024. These investments included relocation of facilities as a result of government mandates, renewals associated with the rehabilitation of aging infrastructure, installation of new main, upgrading elevated storage tanks, purchase of new transportation equipment, upgrading and replacing meter reading equipment, construction of a new wastewater treatment plant and upgrading existing pumping stations to better serve our customers.

About Artesian Resources

Artesian Resources Corporation operates as a holding company of wholly-owned subsidiaries offering water and wastewater services, and a number of other related core business services, on the Delmarva Peninsula. Artesian Water Company, the principal subsidiary, is the oldest and largest regulated water utility on the Delmarva Peninsula and has been providing water service since 1905. Artesian Water Company supplies 9.4 billion gallons of water per year through 1,491 miles of main to over a third of Delawareans.

Forward Looking Statements

This release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, timely filing for and recovery of our investments in utility plant and increasing operating costs in rates, the continued ability of our water and wastewater systems to be resilient and protective of public health and the environment, and continued growth in our business and the number of customers served. These statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: changes in weather, changes in our contractual obligations, changes in government policies, the timing and results of our rate requests, failure to receive regulatory approval, changes in economic and market conditions generally and other matters discussed in our filings with the Securities and Exchange Commission. While the Company may elect to update forward-looking statements, we specifically disclaim any obligation to do so and you should not rely on any forward-looking statement as representation of the Company’s views as of any date subsequent to the date of this release.

Contact:

Virginia Eisenbrey
(302) 453-6900
[email protected]

Artesian Resources Corporation  
Condensed Consolidated Statement of Operations  
(In thousands, except per share amounts)  
(Unaudited)  
                         
    Three months ended     Twelve months ended  
    December 31,     December 31,  
    2024       2023       2024     2023  
Operating Revenues                        
Water sales $ 21,661     $ 19,739     $ 88,079   $ 80,033  
Other utility operating revenue   3,467       3,112       13,129     12,195  
Non-utility operating revenue   1,722       1,694       6,744     6,633  
    26,850       24,545       107,952     98,861  
                         
Operating Expenses                        
Utility operating expenses   13,535       11,717       49,796     46,205  
Non-utility operating expenses   1,269       1,099       4,743     4,428  
Depreciation and amortization   3,452       3,453       13,629     13,335  
State and federal income taxes   1,334       1,192       7,315     6,348  
Property and other taxes   1,615       1,570       6,318     6,099  
    21,205       19,031       81,801     76,415  
                         
Operating Income   5,645       5,514       26,151     22,446  
                         
Allowance for funds used during construction   517       309       1,643     2,002  
Miscellaneous   (72 )     (148 )     1,379     1,407  
                         
Income Before Interest Charges   6,090       5,675       29,173     25,855  
                         
Interest Charges   2,245       2,195       8,779     9,156  
                         
Net Income $ 3,845     $ 3,480     $ 20,394   $ 16,699  
                         
Weighted Average Common Shares Outstanding – Basic   10,300       10,281       10,294     10,018  
Net Income per Common Share – Basic $ 0.37     $ 0.34     $ 1.98   $ 1.67  
                         
Weighted Average Common Shares Outstanding – Diluted   10,302       10,284       10,296     10,022  
Net Income per Common Share – Diluted $ 0.37     $ 0.34     $ 1.98   $ 1.67  
                         
Artesian Resources Corporation  
Condensed Consolidated Balance Sheets  
(In thousands)  
(Unaudited)  
                         
  December 31,   December 31,              
  2024     2023                
Assets                        
Utility Plant, at original cost less                        
accumulated depreciation $ 747,186     $ 714,284                
Current Assets   24,528       30,617                
Regulatory and Other Assets   26,909       21,931                
  $ 798,623     $ 766,832                
                         
Capitalization and Liabilities                        
                         
Stockholders’ Equity $ 239,189     $ 230,397                
Long Term Debt, Net of Current Portion   176,509       178,307                
Current Liabilities   25,593       22,414                
Net Advances for Construction   1,582       2,797                
Contributions in Aid of Construction   272,405       247,934                
Other Liabilities   83,345       84,983                
  $ 798,623     $ 766,832                
                         



Americold Announces Pricing Terms for $400,000,000 Notes Offering

ATLANTA, GA., March 25, 2025 (GLOBE NEWSWIRE) — Americold Realty Trust, Inc. (NYSE: COLD) (the “Company” or “Americold”), a global leader in temperature-controlled logistics, real estate, and value-added services focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, announced today that its operating partnership, Americold Realty Operating Partnership, L.P., a Delaware limited partnership (the “Operating Partnership”), has priced an underwritten public offering of $400,000,000 of its 5.600% notes due May 15, 2032 (the “Notes”). The Notes, which were priced at 99.862% of their principal amount to yield 5.622% to maturity, will be fully and unconditionally guaranteed jointly and severally (the “Guarantees” and, together with the Notes, the “Securities”), by each of the Company, Americold Realty Operations, Inc., a Delaware corporation and wholly-owned subsidiary of the Company and a limited partner of the Operating Partnership (the “Limited Partner”), and certain subsidiaries of the Operating Partnership (the “Subsidiary Guarantors” and, together with the Company and the Limited Partner, the “Guarantors” and the Guarantors together with the Operating Partnership, the “Americold Entities”). The offering is expected to close on April 3, 2025, subject to customary closing conditions.

The Operating Partnership intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its revolving credit facility, pay fees and expenses incurred in connection with the offering of the Notes and, to the extent there are any remaining proceeds therefrom, for general corporate purposes.

BofA Securities, Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, Truist Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, PNC Capital Markets LLC and Rabo Securities USA, Inc. are acting as joint book-running managers for the offering. Citizens JMP Securities, LLC, Huntington Securities, Inc. and Regions Securities LLC are acting as senior co-managers for the offering, and HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., Scotia Capital (USA) Inc. and Fifth Third Securities, Inc. are acting as co-managers for the offering.

The offering is being made pursuant to an effective shelf registration statement filed by the Americold Entities with the U.S. Securities and Exchange Commission (the “SEC”). The offering will be made only by means of the prospectus supplement and accompanying prospectus. The preliminary prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC’s website at http://www.sec.gov. A copy of the final prospectus supplement and accompanying prospectus related to the offering may be obtained, when available, from: (i) BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at [email protected], or by telephone at 1-800-294-1322, (ii) J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, or by telephone at 1-212-834-4533, (iii) RBC Capital Markets, LLC, Brookfield Place, 200 Vesey Street, 8th Floor, New York, NY 10281, Attention: Syndicate Operations, or by email at [email protected], or by telephone at 1-866-375-6829, or (iv) Truist Securities, Inc., 50 Hudson Yards, 70th Floor, New York, NY 10001, Attention: Debt Capital Markets, or by email at [email protected], or by telephone at 1-800-685-4786.

Before making an investment in the Securities, potential investors should read the prospectus supplement and accompanying prospectus and the other documents that the Operating Partnership or the Guarantors have filed and will file with the SEC for more complete information about the Operating Partnership and the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction.

About the Company

Americold is a global leader in temperature-controlled logistics real estate and value-added services. Focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, Americold owns and/or operates 239 temperature-controlled warehouses, with approximately 1.4 billion refrigerated cubic feet of storage, in North America, Europe, Asia-Pacific, and South America. Americold’s facilities are an integral component of the supply chain connecting food producers, processors, distributors and retailers to consumers.

Forward-Looking Statements

This press release contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on our beliefs, assumptions and expectations of our future financial and operating performance and growth plans, taking into account the information currently available to us. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the expectations of future results we express or imply in any forward-looking statements, and you should not place undue reliance on such statements. Factors that could contribute to these differences include the following: rising inflationary pressures, increased interest rates and operating costs; labor and power costs; labor shortages; our relationship with our associates, the occurrence of any work stoppages or any disputes under our collective bargaining agreements and employment related litigation; the impact of supply chain disruptions; risks related to rising construction costs; risks related to expansions of existing properties and developments of new properties, including failure to meet budgeted or stabilized returns within expected time frames, or at all, in respect thereof; uncertainty of revenues, given the nature of our customer contracts; acquisition risks, including the failure to identify or complete attractive acquisitions or failure to realize the intended benefits from our acquisitions; difficulties in expanding our operations into new markets; uncertainties and risks related to public health crises; a failure of our information technology systems, systems conversions and integrations, cybersecurity attacks or a breach of our information security systems, networks or processes; risks related to implementation of the new enterprise resource planning system; defaults or non-renewals of significant customer contracts; risks related to privacy and data security concerns, and data collection and transfer restrictions and related foreign regulations; changes in applicable governmental regulations and tax legislation; risks related to current and potential international operations and properties; actions by our competitors and their increasing ability to compete with us; changes in foreign currency exchange rates; the potential liabilities, costs and regulatory impacts associated with our in-house trucking services and the potential disruptions associated with our use of third-party trucking service providers for transportation services to our customers; liabilities as a result of our participation in multi-employer pension plans; risks related to the partial ownership of properties, including our joint venture investments; risks related to natural disasters; adverse economic or real estate developments in our geographic markets or the temperature-controlled warehouse industry; risks associated with the ownership of real estate and temperature-controlled warehouses in particular; changes in real estate and zoning laws and increases in real property tax rates; general economic conditions; possible environmental liabilities; uninsured losses or losses in excess of our insurance coverage; financial market fluctuations; our failure to obtain necessary outside financing on attractive terms, or at all; risks related to, or restrictions contained in, our debt financings; decreased storage rates or increased vacancy rates; the potential dilutive effect of our common stock offerings, including our ongoing at the market program; the cost and time requirements as a result of our operation as a publicly traded real estate investment trust (“REIT”); and our failure to maintain our status as a REIT.

Words such as “anticipates,” “believes,” “continues,” “estimates,” “expects,” “goal,” “objectives,” “intends,” “may,” “opportunity,” “plans,” “potential,” “near-term,” “long-term,” “projections,” “assumptions,” “projects,” “guidance,” “forecasts,” “outlook,” “target,” “trends,” “should,” “could,” “would,” “will” and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements may contain such words. We qualify any forward-looking statements entirely by these cautionary factors. Other risks, uncertainties and factors, including those discussed under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, and other reports filed with the SEC, could cause our actual results to differ materially from those projected in any forward-looking statements we make. We assume no obligation to update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future except to the extent required by law.

Contacts:

Americold Realty Trust, Inc.
Investor Relations
Telephone: 678-459-1959
Email: [email protected]

Source: Americold Realty Trust