Posts

Posted on

Movado Group, Inc. Announces Fourth Quarter and Fiscal Year 2025 Results

Movado Group, Inc. Announces Fourth Quarter and Fiscal Year 2025 Results

~ Fiscal 2025 Net Sales of $653.4 million ~

~ Fiscal 2025 Operating Income of $20.0 million and Adjusted Operating Income of $27.1 million ~

~ Fiscal 2025 EPS of $0.81 and Fiscal 2025 Adjusted EPS of $1.12 ~

~ Fourth Quarter Net Sales of $181.5 million ~

~ Fourth Quarter EPS of $0.36 and Fourth Quarter Adjusted EPS of $0.51 ~

~ Board Declared Quarterly Dividend of $0.35 Per Share ~

PARAMUS, N.J.–(BUSINESS WIRE)–
Movado Group, Inc. (NYSE: MOV) today announced fourth quarter and fiscal year 2025 results for the periods ended January 31, 2025. As previously announced, on April 11, 2025, the Company filed a Current Report on Form 8-K in which it presented restated prior-period financial results for each of the three fiscal years ended January 31, 2024, and the interim periods within fiscal years 2025 and 2024. As a result, the historical periods presented in this press release incorporate the restated financial results.

Fiscal Year 2025 Highlights (See attached table for GAAP and Non-GAAP measures)

  • Net sales of $653.4 million vs. $664.4 million in fiscal 2024;
  • Operating income of $20.0 million compared to $48.5 million in the prior year period;
  • Adjusted operating income of $27.1 million in fiscal 2025;
  • Diluted earnings per share of $0.81 compared to $1.83 in the prior year period;
  • Adjusted diluted earnings per share of $1.12 in fiscal 2025; and
  • Ended the year with cash of $208.5 million and no debt.

Efraim Grinberg, Chairman and Chief Executive Officer, stated: “Despite a challenging macroeconomic backdrop, we delivered net sales growth in the fourth quarter and also expanded gross profit margin while increasing marketing spend in support of future growth. As we communicated when reporting third quarter results in December, we increased our focus on reducing go-forward operating expenses. As of our fiscal year end, we had already implemented actions that are expected to deliver $10 million in annualized savings while increasing efficiency across our enterprise in order to generate higher productivity and profitability. Additionally, we will bring our marketing spend to be more in line with sales in fiscal 2026, with planned spend being reduced by a range of $15 million to $20 million relative to fiscal 2025.”

“Given the ongoing uncertainty within the global retail environment, tariffs, and economic unrest that may ensue, we will continue to focus on the areas that we can control. We have always prided ourselves on strong execution, delivering innovation for our customers and brands, and driving demand through effective marketing messaging across our brand portfolio.”

Mr. Grinberg concluded, “Introducing innovation across our watch and jewelry brands globally, executing with discipline, and leveraging our strong balance sheet with $208.5 million in cash and no debt will continue to serve us well as we navigate the current uncertain global economic environment. We are pleased that last Friday we announced that our board had declared a quarterly dividend of $0.35 per share, and we remain committed to prioritizing returning value to shareholders through ongoing quarterly cash dividends and our share repurchase program.”

Fiscal Fourth Quarter Highlights (See attached table for GAAP and Non-GAAP measures)

  • Net sales of $181.5 million versus $175.8 million in the fourth quarter of fiscal 2024;
  • Gross margin of 54.2% as compared to 53.5% in the prior year period;
  • Operating income of $9.2 million as compared to $10.8 million in the prior year period;
  • Adjusted operating income of $13.5 million in the fourth quarter of fiscal 2025;
  • Diluted earnings per share of $0.36 as compared to $0.43 in the prior year period; and
  • Adjusted diluted earnings per share was $0.51 in the fourth quarter of fiscal 2025.

Non-GAAP Items (See attached table for GAAP and Non-GAAP measures)

Fiscal 2025 results of operations included the following items:

  • a fourth quarter pre-tax charge of $1.8 million, or $1.5 million after tax, representing $0.07 per diluted share, associated with the establishment of a provision associated with a corporate cost-savings initiative. For the full fiscal year, the pre-tax charge was $4.6 million, or $3.7 million after tax, representing $0.16 per diluted share.
  • a fourth quarter and full year pre-tax charge of $2.5 million, or $1.9 million after tax, representing $0.08 per diluted share, associated with professional fees related to the investigation of conduct by certain employees of the Company’s Dubai branch.
  • a full year after tax charge of $1.5 million, representing $0.07 per diluted share, associated with the tax impact of repatriation of foreign earnings, primarily related to foreign currency gains.

In this press release, references to “adjusted” results exclude the impact of the above charges. Please refer to the attached GAAP and Non-GAAP measures table for a detailed reconciliation of the Company’s reported results to its adjusted, non-GAAP results.

Fourth Quarter Fiscal 2025 Results (See attached table for GAAP and Non-GAAP measures)

  • Net sales increased 3.3% to $181.5 million, or increased 5.0% on a constant dollar basis, compared to $175.8 million in the fourth quarter of fiscal 2024. The increase in net sales reflected growth in international wholesale channels and online retail, partially offset by declines in U.S. wholesale customers’ brick and mortar stores and Movado Company Stores, as well as the negative impact of fluctuations in foreign exchange rates. U.S. net sales decreased 2.9% as compared to the fourth quarter of last year. International net sales increased 8.8% (an increase of 12.2% on a constant dollar basis) as compared to the fourth quarter of last year.
  • Gross profit was $98.3 million, or 54.2% of net sales, compared to $94.1 million, or 53.5% of net sales in the fourth quarter of fiscal 2024. The increase in gross margin percentage was primarily the result of favorable changes in channel and product mix and the increased leverage of lower fixed costs over higher sales, partially offset by the unfavorable impact of foreign currency exchange rates.
  • Operating expenses were $89.1 million in the fourth quarter of fiscal 2025 compared to $83.3 million in the fourth quarter of fiscal 2024. Adjusted operating expenses were $84.8 million for the fourth quarter of fiscal 2025. The change in operating expenses was primarily due to higher marketing expenses and the charges described above under “Non-GAAP Items,” partially offset by lower payroll and related expenses.
  • Operating income was $9.2 million compared to $10.8 million in the fourth quarter of fiscal 2024. Adjusted operating income was $13.5 million for the fourth quarter of fiscal 2025.
  • The Company recorded a tax provision of $2.2 million, as compared to a tax provision of $2.3 million in the fourth quarter of fiscal 2024. Based on adjusted pre-tax income, the adjusted tax provision was $3.1 million, or an adjusted tax rate of 20.6%, as compared to a tax rate of 18.9%, in the fourth quarter of fiscal 2024.
  • Net income for the fourth quarter of fiscal 2025 was $8.1 million, or $0.36 per diluted share, compared to net income of $9.8 million, or $0.43 per diluted share, in the fourth quarter of fiscal 2024. Adjusted net income for the fiscal 2025 period was $11.5 million, or $0.51 per diluted share.

Full Year Fiscal 2025 Results (See attached table for GAAP and Non-GAAP measures)

  • Net sales decreased 1.7% to $653.4 million, or decreased 1.5% on a constant dollar basis, compared to $664.4 million in fiscal 2024. The decrease in net sales reflected declines in U.S. wholesale customers’ brick and mortar stores and Movado Company Stores, as well as the negative impact of fluctuations in foreign exchange rates, partially offset by growth in online retail in the U.S. and in international wholesale channels. Net sales decreased 4.0% in the U.S. as compared to fiscal 2024. International net sales increased 0.2% (an increase of 0.6% on a constant dollar basis) as compared to fiscal 2024.
  • Gross profit was $353.1 million, or 54.0% of net sales, compared to gross profit of $364.2 million, or 54.8% of net sales in fiscal 2024. The decrease in gross margin percentage was primarily the result of unfavorable changes in channel and product mix, the decreased leverage of higher fixed costs over lower sales and the unfavorable impact of foreign currency exchange rates, partially offset by reduced shipping costs.
  • Operating expenses were $333.1 million in fiscal 2025 compared to $315.7 million in fiscal 2024. For fiscal 2025, adjusted operating expenses were $326.1 million. This increase was primarily due to higher marketing expense and the charges described above under “Non-GAAP Items,” partially offset by lower performance-based compensation.
  • Operating income was $20.0 million in fiscal 2025 as compared to operating income of $48.5 million in fiscal 2024. Adjusted operating income for fiscal 2025 was $27.1 million.
  • The Company recorded a tax provision of $7.4 million in fiscal 2025 compared to a tax provision of $11.8 million in fiscal 2024. Based on adjusted pre-tax income, the adjusted tax provision was $7.4 million, or an adjusted tax rate of 22.0%, as compared to a tax rate of 21.9% in fiscal 2024.
  • Net income was $18.4 million, or $0.81 per diluted share, for fiscal 2025, compared to net income of $41.3 million, or $1.83 per diluted share, for fiscal 2024. Adjusted net income in fiscal 2025 was $25.4 million or $1.12 per diluted share.

Fiscal 2026 Outlook

Given the current economic uncertainty and the unpredictable impact of recent tariff developments on the Company’s business, the Company has elected not to provide a fiscal 2026 outlook at this time. However, the Company is planning to take actions to partially mitigate the impact of the recent tariff changes, including select price increases at the wholesale and retail levels.

Quarterly Dividend and Share Repurchase Program

The Company also announced on April 11, 2025, that the Board of Directors approved the payment on May 6, 2025, of a cash dividend in the amount of $0.35 for each share of the Company’s outstanding common stock and class A common stock held by shareholders of record as of the close of business on April 22, 2025.

During fiscal year 2025, the Company repurchased approximately 120,000 shares under its November 23, 2021, share repurchase program which expired on November 23, 2024. As of year-end, the Company had $50.0 million remaining available under its December 5, 2024 share repurchase program.

Conference Call

The Company’s management will host a conference call and audio webcast to discuss its results today, April 16, 2025, at 9:00 a.m. Eastern Time. The conference call may be accessed by dialing (877) 407-0784. Additionally, a live webcast of the call can be accessed at www.movadogroup.com.The webcast will be archived on the Company’s website approximately one hour after the conclusion of the call. Additionally, a telephonic replay of the call will be available from 1:00 p.m. ET on April 16, 2025, until 11:59 p.m. ET on April 30, 2025, and can be accessed by dialing (844) 512-2921 and entering replay pin number 13752902.

Movado Group, Inc. designs, sources, and globally distributes and sells MOVADO®, MVMT®, OLIVIA BURTON®, EBEL®, CONCORD®, CALVIN KLEIN®, COACH®, TOMMY HILFIGER®, HUGO BOSS®, and LACOSTE® watches and, to a lesser extent, jewelry and other accessories, and operates Movado Company Stores in the United States and Canada.

In this release, the Company presents certain financial measures that are not calculated according to generally accepted accounting principles in the United States (“GAAP”). Specifically, the Company is presenting adjusted operating expenses, diluted earnings per share, adjusted diluted earnings per share, adjusted operating income, adjusted pre-tax income, adjusted tax provision and adjusted net income, which are operating expenses, operating income, pre-tax income, tax provision and net income, respectively, under GAAP, adjusted to eliminate the establishment of a provision associated with a cost-savings initiative, professional fees related to the investigation referred to above and the impact of the repatriation of foreign earnings. The Company believes these adjusted measures are useful because they give investors information about the Company’s financial performance without the effect of certain items that the Company believes are not characteristic of its usual operations. Additionally, the Company is presenting constant currency information to provide a framework to assess how its business performed excluding the effects of foreign currency exchange rate fluctuations in the current period. Comparisons of financial results on a constant dollar basis are calculated by translating each foreign currency at the same U.S. dollar exchange rate as in effect for the prior-year period for both periods being compared.The Company believes this information is useful to investors to facilitate comparisons of operating results. These non-GAAP financial measures are designed to complement the GAAP financial information presented in this release. The non-GAAP financial measures presented should not be considered in isolation from or as a substitute for the comparable GAAP financial measures, and the methods of their calculation may differ substantially from similarly titled measures used by other companies.

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as “expects,” “anticipates,” “believes,” “targets,” “goals,” “projects,” “intends,” “plans,” “seeks,” “estimates,” “may,” “will,” “should” and variations of such words and similar expressions. Similarly, statements in this press release that describe the Company’s business strategy, outlook, objectives, plans, intentions or goals are also forward-looking statements. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, performance or achievements and levels of future dividends to differ materially from those expressed in, or implied by, these statements. These risks and uncertainties may include, but are not limited to, the Company’s ability to implement and maintain effective internal control over financial reporting in the future, plans to remediate the material weakness with respect to the Company’s internal control over financial reporting and disclosure controls and procedures, general economic and business conditions which may impact disposable income of consumers in the United States and the other significant markets (including Europe) where the Company’s products are sold, uncertainty regarding such economic and business conditions, including inflation, elevated interest rates, increased commodity prices and tightness in the labor market, trends in consumer debt levels and bad debt write-offs, general uncertainty related to geopolitical concerns, the impact of international hostilities, including the Russian invasion of Ukraine and war in the Middle East, on global markets, economies and consumer spending, on energy and shipping costs, and on the Company’s supply chain and suppliers, supply disruptions, delivery delays and increased shipping costs, defaults on or downgrades of sovereign debt and the impact of any of those events on consumer spending, evolving stakeholder expectations and emerging complex laws on environmental, social, and governance matters, changes in consumer preferences and popularity of particular designs, new product development and introduction, decrease in mall traffic and increase in e-commerce, the ability of the Company to successfully implement its business strategies, competitive products and pricing, including price increases to offset increased costs, the impact of “smart” watches and other wearable tech products on the traditional watch market, seasonality, availability of alternative sources of supply in the case of the loss of any significant supplier or any supplier’s inability to fulfill the Company’s orders, the loss of or curtailed sales to significant customers, the Company’s dependence on key employees and officers, the ability to successfully integrate the operations of acquired businesses without disruption to other business activities, the possible impairment of acquired intangible assets, risks associated with the Company’s minority investments in early-stage growth companies and venture capital funds that invest in such companies, the continuation of the Company’s major warehouse and distribution centers, the continuation of licensing arrangements with third parties, losses possible from pending or future litigation and administrative proceedings, the ability to secure and protect trademarks, patents and other intellectual property rights, the ability to lease new stores on suitable terms in desired markets and to complete construction on a timely basis, the ability of the Company to successfully manage its expenses on a continuing basis, information systems failure or breaches of network security, complex and quickly-evolving regulations regarding privacy and data protection, the continued availability to the Company of financing and credit on favorable terms, business disruptions, and general risks associated with doing business internationally, including, without limitation, import duties, tariffs (including retaliatory tariffs), quotas, political and economic stability, changes to existing laws or regulations, and impacts of currency exchange rate fluctuations and the success of hedging strategies related thereto, and the other factors discussed in the Company’s Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. These statements reflect the Company’s current beliefs and are based upon information currently available to it. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated with the passage of time. The Company assumes no duty to update its forward-looking statements and this release shall not be construed to indicate the assumption by the Company of any duty to update its outlook in the future.

(Tables to follow)

MOVADO GROUP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
 
 
Three Months Ended Twelve Months Ended
January 31, January 31,
 

 

2025

 

 

 

2024

 

 

 

2025

 

 

 

2024

 

(As Restated) (As Restated)
Net sales

$

181,475

 

$

175,753

 

$

653,378

 

$

664,389

 

 
Cost of sales

 

83,137

 

 

81,659

 

 

300,238

 

 

300,230

 

 
Gross profit

 

98,338

 

 

94,094

 

 

353,140

 

 

364,159

 

 
Total operating expenses

 

89,116

 

 

83,311

 

 

333,125

 

 

315,689

 

 
Operating income

 

9,222

 

 

10,783

 

 

20,015

 

 

48,470

 

 
Non-operating income/(expense):
Other income, net

 

1,554

 

 

1,800

 

 

7,125

 

 

5,994

 

Interest expense

 

(117

)

 

(136

)

 

(489

)

 

(497

)

 
Income before income taxes

 

10,659

 

 

12,447

 

 

26,651

 

 

53,967

 

 
Provision for income taxes

 

2,201

 

 

2,348

 

 

7,442

 

 

11,792

 

 
Net income

 

8,458

 

 

10,099

 

 

19,209

 

 

42,175

 

 
Less: Net income attributable to noncontrolling interests

 

405

 

 

262

 

 

845

 

 

830

 

 
Net income attributable to Movado Group, Inc.

$

8,053

 

$

9,837

 

$

18,364

 

$

41,345

 

 
Diluted Income Per Share Information
Net income per share attributable to Movado Group, Inc.

$

0.36

 

$

0.43

 

$

0.81

 

$

1.83

 

 
Weighted diluted average shares outstanding

 

22,534

 

 

22,708

 

 

22,603

 

 

22,641

 

MOVADO GROUP, INC.
GAAP AND NON-GAAP MEASURES
(In thousands, except for percentage data)
(Unaudited)
 
 
Three Months Ended
January 31,

% Change

 

 

2025

 

2024

 

(As Restated)

 

Total net sales, as reported

$

181,475

$

175,753

3.3%

 

Total net sales, constant dollar basis

$

184,561

$

175,753

5.0%

 

 

 

Twelve Months Ended

 

January 31,

% Change

 

 

2025

 

2024

 

(As Restated)

 

Total net sales, as reported

$

653,378

$

664,389

-1.7%

 

Total net sales, constant dollar basis

$

654,728

$

664,389

-1.5%

MOVADO GROUP, INC.
GAAP AND NON-GAAP MEASURES
(In thousands, except per share data)
(Unaudited)
 
Net Sales Gross Profit Total Operating
Expenses		 Operating
Income		 Pre-tax Income Provision/(Benefit)
for Income Taxes		 Net Income
Attributable to
Movado Group, Inc.		 Diluted EPS
Three Months Ended January 31, 2025
As Reported (GAAP)

$

181,475

$

98,338

$

89,116

 

$

9,222

$

10,659

$

2,201

 

$

8,053

$

0.36

Cost-Savings Initiative (1)

 

–

 

–

 

(1,817

)

 

1,817

 

1,817

 

277

 

 

1,540

 

0.07

Professional fees (2)

 

–

 

–

 

(2,500

)

 

2,500

 

2,500

 

608

 

 

1,892

 

0.08

Adjusted Results (Non-GAAP)

$

181,475

$

98,338

$

84,799

 

$

13,539

$

14,976

$

3,086

 

$

11,485

$

0.51

 
 
Three Months Ended January 31, 2024 (As Restated)
As Reported (GAAP)

$

175,753

$

94,094

$

83,311

 

$

10,783

$

12,447

$

2,348

 

$

9,837

$

0.43

 
 
Net Sales Gross Profit Total Operating
Expenses		 Operating
Income		 Pre-tax Income Provision/(Benefit)
for Income Taxes		 Net Income
Attributable to
Movado Group, Inc.		 Diluted EPS
Twelve Months Ended January 31, 2025
As Reported (GAAP)

$

653,378

$

353,140

$

333,125

 

$

20,015

$

26,651

$

7,442

 

$

18,364

$

0.81

Cost-Savings Initiative (1)

 

–

 

–

 

(4,552

)

 

4,552

 

4,552

 

838

 

 

3,714

 

0.16

Professional fees

 

–

 

–

 

(2,500

)

 

2,500

 

2,500

 

608

 

 

1,892

 

0.08

Repatriation of Foreign Earnings (3)

 

–

 

–

 

–

 

 

–

 

–

 

(1,458

)

 

1,458

 

0.07

Adjusted Results (Non-GAAP)

$

653,378

$

353,140

$

326,073

 

$

27,067

$

33,703

$

7,430

 

$

25,428

$

1.12

 
 
Twelve Months Ended January 31, 2024 (As Restated)
As Reported (GAAP)

$

664,389

$

364,159

$

315,689

 

$

48,470

$

53,967

$

11,792

 

$

41,345

$

1.83

(1)

  Related to the establishment of provisions associated with a corporate cost-savings initiative.

(2)

  Professional fees related to the investigation of allegations of misconduct within the Dubai branch of the Company’s Swiss subsidiary that resulted in a restatement of previously issued financial statements.

(3)

  Tax impact of repatriation of foreign earnings, primarily related to foreign currency gains.
MOVADO GROUP, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
 

 

January 31, January 31,

 

2025

2024

 

(As Restated)
ASSETS

 

 

 

Cash and cash equivalents

 

$

208,501

$

262,059

Trade receivables, net

 

 

93,382

 

86,044

Inventories

 

 

156,738

 

153,890

Other current assets

 

 

21,786

 

17,962

Income taxes receivable

 

 

9,534

 

11,339

Total current assets

 

 

489,941

 

531,294

 

Property, plant and equipment, net

 

 

19,920

 

19,436

Operating lease right-of-use assets

 

 

86,009

 

82,661

Deferred and non-current income taxes

 

 

41,330

 

43,016

Other intangibles, net

 

 

5,537

 

7,493

Other non-current assets

 

 

86,494

 

72,598

Total assets

 

$

729,231

$

756,498

 

LIABILITIES AND EQUITY

 

 

 

Accounts payable

 

$

34,312

$

32,775

Accrued liabilities

 

 

42,610

 

38,695

Accrued payroll and benefits

 

 

7,840

 

7,591

Current operating lease liabilities

 

 

19,263

 

15,696

Income taxes payable

 

 

8,935

 

16,642

Total current liabilities

 

 

112,960

 

111,399

 

Deferred and non-current income taxes payable

 

 

1,008

 

8,234

Non-current operating lease liabilities

 

 

75,508

 

76,396

Other non-current liabilities

 

 

56,176

 

52,420

 

Shareholders’ equity

 

 

481,329

 

505,890

 

Noncontrolling interest

 

 

2,250

 

2,159

Total equity

 

 

483,579

 

508,049

 

Total liabilities and equity

 

$

729,231

$

756,498

 
MOVADO GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
 

Twelve Months Ended

January 31,
 

 

2025

 

 

2024

 

Cash flows from operating activities: (As Restated)
Net income

$

19,209

 

$

42,175

 

Depreciation and amortization

 

9,312

 

 

9,644

 

Other non-cash adjustments

 

9,548

 

 

14,921

 

Changes in working capital

 

(34,884

)

 

8,770

 

Changes in non-current assets and liabilities

 

(4,689

)

 

1,268

 

Net cash (used in)/provided by operating activities

 

(1,504

)

 

76,778

 

 
Cash flows from investing activities:
Capital expenditures

 

(7,966

)

 

(8,223

)

Long-term investments

 

(5,667

)

 

(3,107

)

Trademarks and other intangibles

 

(109

)

 

(144

)

Net cash used in investing activities

 

(13,742

)

 

(11,474

)
 
Cash flows from financing activities:
Dividends paid

 

(31,069

)

 

(53,146

)

Stock repurchases

 

(2,628

)

 

(3,116

)

Distribution of noncontrolling interest earnings

 

(604

)

 

(1,431

)

Stock awards and options exercised and other changes

 

(1,101

)

 

97

 

Net cash used in financing activities

 

(35,402

)

 

(57,596

)
 
Effect of exchange rate changes on cash, cash equivalents, and restricted cash

 

(2,952

)

 

2,927

 

Net change in cash, cash equivalents, and restricted cash

 

(53,600

)

 

10,635

 

Cash, cash equivalents, and restricted cash at beginning of period

 

262,814

 

 

252,179

 

 
Cash, cash equivalents, and restricted cash at end of period

$

209,214

 

$

262,814

 

 
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents

$

208,501

 

$

262,059

 

Restricted cash included in other non-current assets

 

713

 

 

755

 

Cash, cash equivalents, and restricted cash

$

209,214

 

$

262,814

 

 

ICR, Inc.

Allison Malkin

203-682-8225

KEYWORDS: United States North America New Jersey

INDUSTRY KEYWORDS: Jewelry Fashion Other Retail Luxury Retail

MEDIA:

Posted on

Ferguson Announces Two Acquisitions

Ferguson Announces Two Acquisitions

Strengthens its Commercial and Fire & Fabrication businesses through bolt-on geographic and capability acquisitions

NEWPORT NEWS, Va.–(BUSINESS WIRE)–Ferguson Enterprises, Inc. (NYSE: FERG; LSE: FERG) announces the closing of two acquisitions: Independent Pipe & Supply Corp. and National Fire Equipment Ltd. and National Fire Fabrication Ltd.

Independent Pipe & Supply Corp.

Headquartered in Canton, MA, Independent Pipe & Supply is a distributor of pipe, valves and other products serving the commercial / mechanical professional. The company has eight locations across the Northeast, operating in Vermont, New Hampshire, Massachusetts, Rhode Island, Connecticut and New York. The acquisition of Independent Pipe & Supply strengthens Ferguson’s existing footprint and fabrication capabilities in the New England area.

National Fire Equipment Ltd. and National Fire Fabrication Ltd.

Headquartered in Toronto, ON, National Fire is a market leader of fire and fabrication products and services, with seven locations across eastern and western Canada, including two fabrication facilities, serving the fire protection professional. National Fire enables the expansion of Ferguson’s Fire & Fabrication customer group strategy in Canada and enhances National Fire’s product offering to its customers. National Fire’s business operations will be integrated into Ferguson’s subsidiary in Canada, Wolseley Canada.

Independent Pipe & Supply closed on March 31, 2025, and National Fire closed on April 14, 2025.

“Acquisitions continue to be a key driver of our overall growth strategy, complementing our organic growth,” said Ferguson CEO Kevin Murphy. “The acquisition of Independent Pipe & Supply and National Fire will allow us to better leverage our scale locally, expanding our commercial plumbing and mechanical contracting footprint in the Northeast and our fire and fabrication business into Canada. Both acquisitions add talented associates and valuable customer relationships to our business that help drive future growth.”

Ferguson has a proven track record of successful acquisitions and has completed approximately 50 acquisitions in the last five years. The large, fragmented markets in which Ferguson operates comprise 10,000+ small to medium ($10-300 million revenue) independent companies across Ferguson’s nine customer groups in North America.

About Ferguson

Ferguson (NYSE: FERG; LSE: FERG) is the largest value-added distributor serving the specialized professional in our $340B residential and non-residential North American construction market. We help make our customers’ complex projects simple, successful and sustainable by providing expertise and a wide range of products and services from plumbing, HVAC, appliances, and lighting to PVF, water and wastewater solutions, and more. Headquartered in Newport News, Va., Ferguson has sales of $29.6 billion (FY’24) and approximately 35,000 associates in nearly 1,800 locations. For more information, please visit corporate.ferguson.com.

Cautionary Note on Forward-Looking Statements

Certain information in this announcement is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, and involves risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed or implied by forward-looking statements. Forward-looking statements cover all matters which are not historical facts and speak only as of the date on which they are made. Forward-looking statements can be identified by the use of forward-looking terminology such as “will,” “expect,” “continue,” or other variations or comparable terminology. Many factors could cause our plans to differ materially from those in such forward-looking statements, including, but not limited to: risks related to the ability to realize the anticipated benefits of the acquisitions, including the possibility that the expected benefits will not be realized or will not be realized within the expected time period; the risk that the businesses will not be integrated successfully; weakness in the economy, market trends, uncertainty and other conditions in the markets in which we operate, and other factors beyond our control, including disruption in the financial markets and any macroeconomic or other consequences of political unrest, disputes or war; failure to rapidly identify or effectively respond to direct and/or end customers’ wants, expectations or trends, including costs and potential problems associated with new or upgraded information technology systems or our ability to timely deploy new omni-channel capabilities; decreased demand for our products as a result of operating in highly competitive industries and the impact of declines in the residential and non-residential markets; changes in competition, including as a result of market consolidation or competitors responding more quickly to emerging technologies (such as generative artificial intelligence); unsuccessful execution of our operational strategies; fluctuations in product prices (e.g., commodity-priced materials, inflation/deflation) and foreign currency; and other risks and uncertainties set forth under the heading “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024 filed with the Securities and Exchange Commission (“SEC”) on September 25, 2024 and in other filings we make with the SEC in the future.

Forward-looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Other than in accordance with our legal or regulatory obligations, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor Inquiries

Brian Lantz

Vice President, IR and Communications

+1 224 285 2410

[email protected]

Pete Kennedy

Director, Investor Relations

+1 757 603 0111

[email protected]

Media Inquiries

Christine Dwyer

Senior Director, Communications and Public Relations

+1 757 469 5813

[email protected]

KEYWORDS: United States North America Canada Virginia

INDUSTRY KEYWORDS: Manufacturing Other Manufacturing Other Construction & Property HVAC Construction & Property

MEDIA:

Logo
Logo
Posted on

U.S. Bancorp Reports First Quarter 2025 Results

U.S. Bancorp Reports First Quarter 2025 Results

MINNEAPOLIS–(BUSINESS WIRE)–
U.S. Bancorp reported its first quarter 2025 results today. The earnings release, earnings supplement and slide presentation can be accessed online at ir.usbank.com/investor-relations/financial-information.

At 8 a.m. Central Time, President and Chief Executive Officer Gunjan Kedia and Senior Executive Vice President and Chief Financial Officer John Stern will host a conference call to review the financial results. The conference call will be available online or by telephone. To access the webcast and presentation, visit U.S. Bancorp’s website at usbank.com and click on “About Us,” “Investor Relations” and “Webcasts & Presentations.” To access the conference call from locations within the United States and Canada, please dial 888-210-4659. Participants calling from outside the United States and Canada, please dial 646-960-0383. The conference ID for all participants is 7269933.

About U.S. Bancorp

U.S. Bancorp, with more than 70,000 employees and $678 billion in assets as of December 31, 2024, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2025 World’s Most Ethical Companies and one of Fortune’s most admired superregional banks. Learn more at usbank.com/about.

Investor contact: George Andersen, U.S. Bancorp Investor Relations

[email protected]

Media contact: Jeff Shelman, U.S. Bancorp Public Affairs and Communications

[email protected]

KEYWORDS: United States North America Minnesota

INDUSTRY KEYWORDS: Personal Finance Finance Public Relations/Investor Relations Asset Management Banking Communications Professional Services Business

MEDIA:

Logo
Logo
Posted on

Mega Matrix Inc. Released New Premieres on FlexTV from April 7 to 11, Exploring Humanity Through Betrayal, Redemption, and Destiny

PR Newswire


SINGAPORE
, April 16, 2025 /PRNewswire/ — Last week (April 7–11, 2025), FlexTV, the short drama streaming platform under Mega Matrix Inc. (NYSE American: MPU), unveiled six compelling new English series. Spanning genres from urban fantasy and emotional entanglements to female empowerment and cyclical fate, each production offers a unique lens on the resilience and complexity of the human spirit. These stories, ranging from rags-to-riches tales to timeless love that transcends eras, form a rich tapestry of courage, love, and self-discovery. 

 

Highlights of Short Dramas

1. Karma’s Landlord (April 8)

After being betrayed by his wife and a privileged heir, security guard Aidan Ward unexpectedly acquires divine powers as the Landlord of Fate. Reborn as the guardian of Cloud City, he wields his newfound strength to confront a conspiracy by the influential Shaw family, who use the mystical “Destiny Stone” to manipulate the city’s fate. Aidan’s transformation from mortal to god underscores the power of unwavering conviction in the face of injustice.

2. Hocus Pocus, Who’s the Focus? (April 8)

Single mother Olivia Reed, desperate to save her leukemia-stricken son, pawns a Blackwood family heirloom—only to become the secretary to Maxwell, heir to the same lineage. As long-buried secrets resurface, their professional dynamic gives way to a deeper reckoning with a mysterious bond formed five years ago.

3. MILF Wars: The Final Season (April 9)

Business mogul Amanda Wilson’s relationship with the younger, domineering CEO Ethan Morgan is upended by entangled family histories. With her former classmates now her in-laws and her son at odds with her lover, Amanda must navigate a minefield of social taboos and familial expectations in her quest for love.

4. Little Miss Can’t Be Fooled (April 10)

At her own engagement party, intern reporter Stella exposes her fiancé’s infidelity and unexpectedly enters a marriage of convenience with aerospace engineer Miles. What starts as revenge soon evolves into genuine affection as the two unravel a corporate espionage mystery tied to Miles’ work—and their shared destiny.

5. After Divorce, I Built a Fabulous Life (April 10)

After a painful divorce, brilliant designer Mia reinvents herself from homemaker to rising fashion icon. As her ex-husband Tyler attempts to win her back, their emotional tug-of-war becomes a poignant narrative of female resilience and the reclaiming of self-worth.

6. Veil of My Juliet (April 11)

Nicholas Pierce, burdened by a past-life curse, is reunited with Rachel Hayes—the reincarnation of the lover he once mistakenly killed. To break the cycle of fate, they must confront generations-old blood feuds and unravel a labyrinth of forgotten memories, ultimately uncovering a thousand-year-old truth of sacrifice and redemption.

Through gripping plots and emotionally resonant characters, these series blend dramatic intensity with humanistic reflection. Whether it’s a betrayed guard, a reborn housewife, or star-crossed lovers breaking free from fate, each story affirms a universal truth: true liberation begins with loyalty to oneself.

Available in over 100 countries and regions, FlexTV supports 15 languages including English, Japanese, and Korean. With high-quality content and an exceptional viewing experience, the platform continues to win the hearts of global audiences. Looking ahead, FlexTV remains committed to genre innovation and storytelling excellence, delivering even more diverse and engaging series for viewers worldwide. For more captivating series, visit https://www.flextv.cc/. 

About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through Yuder Pte, Ltd., an indirect wholly owned subsidiary of the Company. Mega Matrix Inc. is a Cayman Islands corporation headquartered in Singapore. For more information, please contact [email protected] or visit: http://www.megamatrix.io.

Key Metrics

The numbers for our key metrics, which include our period active users (PAU), period paying users (PPU), average membership and top-up streaming service revenue per active user (ARPU), and average membership and top-up streaming service revenue per paying user (ARPPU), are calculated using internal company data based on the activity of user accounts. We define an active user as a user who has downloaded and opened the FlexTV app at least once. We define a paying user as a user who has registered for a membership or has topped up, provided a method of payment, and is entitled to access FlexTV services (this membership or topping up does not include participation in free trials or other promotional offers extended by FlexTV to new users). We define ARPU as average membership and top-up streaming services revenue generated by each active user in one quarter. We define ARPPU as average membership and top-up streaming services revenue generated by each paying user in one quarter. We use these metrics to assess the growth and health of the overall business and believe that ARPU best reflects our ability to attract, retain, engage and monetize our users, and thereby drive revenue. While these numbers are based on what we believe to be reasonable estimates of our user base for the applicable period of measurement, there are inherent challenges in measuring usage of our products across large online and mobile populations around the world. In addition, we are continually seeking to improve our estimates of our user base, and such estimates may change due to improvements or changes in technology or our methodology.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the heading “Risk Factors” in documents filed by the Company with the Securities and Exchange Commission (“SEC”), including the Company’s latest annual report on Form 20-F, filed with the SEC on March 28, 2025, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

X (a/k/a Twitter):

twitter.com/MegaMatrixMPU

Facebook:

facebook.com/megamatrixmpu

facebook.com/flextvus

LinkedIn:

linkedin.com/company/megamatrixmpu

TikTok:

tiktok.com/@flextv_english

YouTube:

youtube.com/@FlexTV_English

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

For inquiries, please contact:
[email protected]

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/mega-matrix-inc-released-new-premieres-on-flextv-from-april-7-to-11-exploring-humanity-through-betrayal-redemption-and-destiny-302430145.html

SOURCE Mega Matrix Inc.

Posted on

First Horizon Corporation’s Momentum Continues with Strong First Quarter 2025 Results

PR Newswire

Net Income Available to Common Shareholders of $213 Million with an EPS of $0.41, a $0.12 Increase from Prior Quarter; $217 Million or $0.42 on an Adjusted Basis, Down $0.01 from Prior Quarter*


MEMPHIS, Tenn.
, April 16, 2025 /PRNewswire/ — First Horizon Corporation (NYSE: FHN or “First Horizon”) today reported first quarter net income available to common shareholders (“NIAC”) of $213 million or earnings per share of $0.41, compared with fourth quarter 2024 NIAC of $158 million or earnings per share of $0.29. First quarter 2025 results were reduced by net $4 million after-tax, or $0.01 per share, of notable items compared with $71 million, or $0.13 per share, in fourth quarter 2024. Excluding notable items, adjusted first quarter 2025 NIAC was $217 million or $0.42 per share compared to $228 million or $0.43 per share in fourth quarter 2024.

“We are pleased to report strong performance as we begin 2025. Our commitment to delivering value to our shareholders through consistent returns is achieved by meeting client needs with tailored solutions, maintaining a strong associate culture, and supporting our communities with unwavering resolve,” said President and CEO Bryan Jordan.

He continued, “Our business model prioritizes safety and soundness, profitability, and growth, equipping us to manage uncertainties and adapt to economic changes. For 161 years, First Horizon has demonstrated its ability to perform through diverse economic conditions and is well-positioned to achieve sustainable growth and continue delivering results that benefit our stakeholders for the long term.”

Conference Call Information

Analysts, investors and interested parties may call toll-free starting at 8:15 a.m. CT on April 16, 2025 by dialing 1-833-470-1428 (if calling from the U.S.) or 404-975-4839 (if calling from outside the U.S) and entering access code 728634. The conference call will begin at 8:30 a.m. CT.

Participants can also opt to listen to the live audio webcast at https://ir.firsthorizon.com/events-and-presentations/default.aspx.

A replay of the call will be available beginning at noon CT on April 16 until midnight CT on April 30, 2025. To listen to the replay, dial 1-866-813-9403 (U.S. callers); the access code is 568167. A replay of the webcast will also be available on our website on April 16 and will be archived on the site for one year.

Forward-Looking Statements 

This document and the complete 1Q2025 earnings release to which it relates contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to FHN’s beliefs, plans, goals, expectations, and estimates. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results, or other developments. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “should,” “is likely,” “will,” “going forward,” and other similar expressions that indicate future events and trends. Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic, and competitive uncertainties and contingencies, many of which are beyond FHN’s control, and many of which, with respect to future business decisions and actions (including acquisitions and divestitures), are subject to change and could cause FHN’s actual future results and outcomes to differ materially from those contemplated or implied by forward-looking statements or historical performance. While there is no assurance that any list of uncertainties and contingencies is complete, examples of factors which could cause actual results to differ from those contemplated by forward-looking statements or historical performance include those mentioned: in this document; in Items 2.02 and 7.01 of FHN’s Current Report on Form 8-K filed with the Securities and Exchange Commission on the date of this release; in the forepart, and in Items 1, 1A, and 7, of FHN’s most recent Annual Report on Form 10-K; and in the forepart, and in Item 1A of Part II, of FHN’s Quarterly Report(s) on Form 10-Q filed after that Annual Report. Any forward-looking statements made by or on behalf of FHN speak only as of the date they are made, and FHN assumes no obligation to update or revise any forward-looking statements that are made in this document or in any other statement, release, report, or filing from time to time. Actual results could differ and expectations could change, possibly materially, because of one or more factors, including those factors listed in this document or the documents mentioned above, and other factors not listed.

Throughout this document and the complete 1Q2025 earnings release to which it relates, numbers may not total due to rounding, references to EPS are fully diluted, and capital ratios for the most recent quarter are estimates.

Use of non-GAAP Measures and Regulatory Measures that are not GAAP

Certain measures included in this document and the complete 1Q2025 earnings release to which it relates are “non-GAAP,” meaning they are not presented in accordance with generally accepted accounting principles in the U.S. and also are not codified in U.S. banking regulations currently applicable to FHN. Although other entities may use calculation methods that differ from those used by FHN for non-GAAP measures, FHN’s management believes such measures are relevant to understanding the financial condition, capital position, and financial results of FHN and its business segments. Non-GAAP measures are reported to FHN’s management and Board of Directors through various internal reports.

The non-GAAP measures presented in this document and the complete 1Q2025 earnings release to which it relates are fully taxable equivalent measures, pre-provision net revenue (“PPNR”), return on average tangible common equity (“ROTCE”), tangible common equity (“TCE”) to tangible assets (“TA”), tangible book value (“TBV”) per common share, and various consolidated and segment results and performance measures and ratios adjusted for notable items.

Presentation of regulatory measures, even those which are not GAAP, provide a meaningful base for comparability to other financial institutions subject to the same regulations as FHN, as demonstrated by their use by banking regulators in reviewing capital adequacy of financial institutions. Although not GAAP terms, these regulatory measures are not considered “non-GAAP” under U.S. financial reporting rules as long as their presentation conforms to regulatory standards. Regulatory measures used in this financial supplement include: common equity tier 1 capital (“CET1”), generally defined as common equity less goodwill, other intangibles, and certain other required regulatory deductions; tier 1 capital, generally defined as the sum of core capital (including common equity and instruments that cannot be redeemed at the option of the holder) adjusted for certain items under risk based capital regulations; and risk-weighted assets, which is a measure of total on- and off-balance sheet assets adjusted for credit and market risk, used to determine regulatory capital ratios.

Refer to the tabular reconciliation of non-GAAP to GAAP measures and presentation of the most comparable GAAP items, beginning on page 20 of FHN’s complete 1Q25 earnings release available at https://ir.firsthorizon.com.

First Horizon Corp. (NYSE: FHN), with $81.5 billion in assets as of March 31, 2025, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation’s best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

*References to “adjusted” results exclude notable items and, along with return on tangible common equity, tangible book value per share, and certain other financial measures, are non-GAAP financial measures. All references to loans include leases. All references to earnings per share are based on diluted shares. Please see page 4 of FHN’s complete 1Q25 earnings release available at

https://ir.firsthorizon.com

for information on our use of non-GAAP measures and a reconciliation of these measures to GAAP beginning on page 20 of that release.


Contact:

Investor Relations – [email protected]

Media Relations – [email protected]

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/first-horizon-corporations-momentum-continues-with-strong-first-quarter-2025-results-302429647.html

SOURCE First Horizon Corporation

Posted on

Kennametal to Host Earnings Conference Call & Webcast on Third Quarter Fiscal 2025 Results

PR Newswire


PITTSBURGH
, April 16, 2025 /PRNewswire/ — Kennametal Inc. (NYSE: KMT) will host its third quarter fiscal year 2025 earnings call on Wednesday, May 7, 2025. The press release and presentation will be available on the Company’s website before market on May 7. 

Details of the conference call and webcast are as follows:


When:

Wednesday, May 7, 2025, at 9:30 am ET


Hosts:

Sanjay Chowbey, President and CEO
Patrick Watson, Vice President and CFO


Webcast:

The conference call will be broadcast via real-time audio on Kennametal’s investor relations website at https://investors.kennametal.com/ – click “Event” (located in the blue Quarterly Earnings block)


About Kennametal


With over 85 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace and defense, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and efficiency. Every day approximately 8,400 employees are helping customers in nearly 100 countries stay competitive. Kennametal generated $2 billion in revenues in fiscal 2024. Learn more at www.kennametal.com. Follow @Kennametal: Instagram, Facebook, LinkedIn and YouTube.

Cision View original content:https://www.prnewswire.com/news-releases/kennametal-to-host-earnings-conference-call–webcast-on-third-quarter-fiscal-2025-results-302428824.html

SOURCE Kennametal Inc.

Posted on

Valens Semiconductor to Announce First Quarter 2025 Financial Results on May 7, 2025

PR Newswire

HOD HASHARON, Israel, April 16, 2025 /PRNewswire/ — Valens Semiconductor (NYSE: VLN), a leader in high-performance connectivity, today announced that it will release its first quarter 2025 financial results before the market opens on Wednesday, May 7, 2025.

Valens Semiconductor Logo

Gideon Ben Zvi, Chief Executive Officer, and Guy Nathanzon, Chief Financial Officer, will host a conference call on Wednesday, May 7, 2025, at 8:30 a.m. Eastern Time (ET) to discuss the company’s first quarter 2025 financial results and business outlook. To access this call, please dial:

U.S: +1 (888) 281-1167

UK: 0 (808) 101-2717

Israel: 03 918 0610

Other: +972 3 918 0610

A live webcast of the conference call will be available via the investor relations section of Valens Semiconductor’s website at Valens – Financials – Quarterly Results. The live webcast can also be accessed by clicking here. A replay of the conference call will be available on Valens Semiconductor’s website shortly after the call concludes.


About Valens


 Semiconductor

Valens Semiconductor (NYSE: VLN) is a leader in high-performance connectivity, enabling customers to transform the digital experiences of people worldwide. Valens’ chipsets are integrated into countless devices from leading customers, powering state-of-the-art audio-video installations, next-generation videoconferencing, and enabling the evolution of ADAS and autonomous driving. Pushing the boundaries of connectivity, Valens sets the standard everywhere it operates, and its technology forms the basis for the leading industry standards such as HDBaseT® and MIPI A-PHY. For more information, visit https://www.valens.com/.

Investor Contacts:

Michal Ben Ari

Investor Relations Manager
Valens Semiconductor Ltd.
[email protected] 

Miri Segal
MS-IR IR for Valens
[email protected]

Media Contact:

Yoni Dayan
Head of Communications
Valens Semiconductor Ltd.
[email protected] 

Logo – https://mma.prnewswire.com/media/2309625/4474760/Valens_Semiconductor_Logo.jpg

Cision View original content:https://www.prnewswire.com/news-releases/valens-semiconductor-to-announce-first-quarter-2025-financial-results-on-may-7-2025-302430134.html

SOURCE Valens Semiconductor

Posted on

Taboola to Announce First Quarter 2025 Financial Results on May 7, 2025

NEW YORK, April 16, 2025 (GLOBE NEWSWIRE) — Taboola (Nasdaq: TBLA), a global leader in delivering performance at scale for advertisers, today announced that it will release first quarter 2025 financial results on Wednesday, May 7, 2025. Management will host a conference call and webcast to discuss financial results at 8:30 a.m. ET.

What: Taboola First Quarter 2025 Financial Results Conference Call

When: Wednesday, May 7, 2025 at 8:30 a.m. ET

Details: Taboola’s senior management team will discuss the Company’s earnings on a call that can be accessed via webcast at https://investors.taboola.com. To access the call by phone, please go to this link to register at https://register-conf.media-server.com/register/BIacaf2c7404e543c8b93182315564cfb5 and you will be provided with dial in details. The webcast will be available for replay for one year, through the close of business on May 7, 2026.

About Taboola

Taboola empowers businesses to grow through performance advertising technology that goes beyond search and social and delivers measurable outcomes at scale.

Taboola works with thousands of businesses who advertise directly on Realize, Taboola’s powerful ad platform, reaching approximately 600M daily active users across some of the best publishers in the world. Publishers like NBC News, Yahoo, and OEMs such as Samsung, Xiaomi and others use Taboola’s technology to grow audience and revenue, enabling Realize to offer unique data, specialized algorithms, and unmatched scale.

Investor Contacts:
Jessica Kourakos
Aadam Anwar
[email protected]

Press Contact:
Dave Struzzi
[email protected]



Posted on

Parsons Selected for Southwest Florida International Airport Terminal Expansion

CHANTILLY, Va., April 16, 2025 (GLOBE NEWSWIRE) — Parsons Corporation (NYSE: PSN) announced today it was selected by the Lee County Port Authority to provide project management services for Phase 1 of the Southwest Florida International Airport (RSW) Terminal Expansion Project in Fort Myers, Florida. 

“We are honored to support the Lee County Port Authority to ensure the successful delivery of Phase 1 of the transformative Terminal Expansion Project,” said Mark Fialkowski, president of Infrastructure North America for Parsons. “Our team is committed to applying our extensive expertise in airport infrastructure to enhance the passenger experience in Southwest Florida and to deliver solutions that enhance the region’s mobility and economic growth.”

Parsons will serve as an extension of the Airport Authority-led team, assisting with project and contract management duties and providing project management support services during construction and initial operation. Parsons will collaborate closely with the design, construction management, and construction engineering inspection teams, as well as other technical advisors and stakeholders. By utilizing both in-house expertise and subconsultants, the company will provide a comprehensive range of services to ensure effective project control oversight and successful project completion.

Phase 1 of the RSW Terminal Expansion Project includes approximately 200,000 square feet of new and remodeled terminal space. The expansion aims to enhance the passenger experience by reducing wait times, consolidating checkpoint operations, improving connectivity between concourses, increasing airside concessions, and adding other amenities, all while maintaining the airport’s aesthetic character.

Parsons has a rich history of combining international expertise with regional strength to deliver innovative infrastructure projects that bring people closer together. The company has planned, designed, constructed, managed, enhanced, and sustained terminal, landside, and airside infrastructure for over 450 airports in 40 countries. With extensive international project experience, Parsons has a deep understanding of global agency standards in accordance with the Federal Aviation Administration (FAA), the International Civil Aviation Organization (ICAO), and the International Air Transport Association (IATA).

To learn more about Parsons’ aviation expertise, visit www.parsons.com/aviation.

About Parsons

Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit

Parsons.com

and follow us on

LinkedIn

and

Facebook

to learn how we’re making an impact.

Media Contact:
Chelsie McKittrick
+1 512.719.6877
[email protected]

Investor Relations Contact:
Dave Spille
+1 703.775.6191
[email protected]



Posted on

Comstock Metals and RWE Clean Energy Enter Strategic Solar Recycling Partnership

VIRGINIA CITY, Nev., April 16, 2025 (GLOBE NEWSWIRE) — Comstock Inc. (NYSE American: LODE) announced today that its subsidiary, Comstock Metals LLC (“Comstock Metals”), a pioneer in sustainable, zero-landfill solar panel recycling has entered into a Master Services Agreement (MSA) with RWE Clean Energy, the U.S. subsidiary of leading global energy company, RWE.

Comstock Metals will provide RWE with recycling, decommissioning, and logistics services for their expansive U.S. solar installations ensuring a zero-landfill solution for 100% of the recovered solar panel materials.

Under the terms of this new agreement, Comstock Metals will serve as a preferred, strategic partner for the recycling, disposal, and decommissioning services for RWE’s solar installations. These projects will include the recycling of solar panels and related equipment, logistics management, eco-friendly disposal practices, and the safe transportation of materials. “This partnership underscores our shared commitment to sustainability and innovation,” stated Dr. Fortunato Villamagna, President of Comstock Metals. “RWE has consistently showcased exceptional commitment to their mission of providing renewable energy solutions by leading the adoption of solar energy and reducing carbon emissions. Comstock Metals complements RWE’s efforts as a trusted provider in the renewable energy market, ensuring environmentally conscious recycling of the solar panels and their components.”

This agreement represents a continuation and expansion of the successful collaboration between the dedicated teams of Comstock Metals and RWE on multiple projects throughout Nevada and California. Comstock Metals has already successfully coordinated the decommissioning, transportation, and recycling of more than 4 million pounds of end-of-life solar materials for RWE, with much more anticipated as demand for responsible recycling grows.

“Comstock Metals continues to systemically identify and close critical gaps in the nascent solar panel recycling sector, creating new capabilities and long-term service opportunities for both the company and the entire supply chain,” said Comstock Inc.’s Executive Chairman and CEO, Corrado De Gasperis. “With these rapidly expanding industry partnerships, we are creating unique, sustainable, and full-service solutions for the world’s most renowned renewable energy companies.”

About RWE in the U.S.

Through its subsidiary RWE Clean Energy, RWE is the third largest renewable energy company in the United States, with a presence in most U.S. states from coast to coast. RWE’s team of about 2,000 employees in the U.S. stands ready to help meet the nation’s growing energy needs. With its homegrown and fastest-to-market product, RWE supports the goal of American Energy dominance and independence. To that end, RWE Clean Energy is committed to increasing its already strong asset base of over 10 gigawatts of operating wind, solar and battery projects, focusing on providing high-quality jobs. RWE invests in local and rural communities while strengthening domestic manufacturing supporting the renaissance of American industry. This is complemented by RWE’s energy trading business. RWE is also a major offtaker of American liquified natural gas (LNG). To learn more, please visit RWE Clean Energy website.

As an energy company with a successful history spanning more than 125 years, RWE has an extensive knowledge of the energy markets and an excellent expertise in all major power generation and storage technologies, from nuclear, coal and gas to hydro, batteries, wind and solar.

About Comstock Metals

Comstock Metals is a leading, Nevada-based, zero-landfill recycling solution that specializes in the environmentally responsible recycling of solar panels and related renewable energy infrastructure and equipment. Comstock’s unique thermal delaminating processes, ongoing material innovations, and sustainable practices differentiates its recycling leadership and strengthens the supply chain of domestically manufactured electrification products. www.comstockmetals.com

About Comstock Inc.

Comstock Inc. (NYSE: LODE) innovates and commercializes technologies that are deployable across entire industries to contribute to energy abundance by efficiently extracting and converting under-utilized natural resources, such as waste and other forms of woody biomass into renewable fuels, and end-of-life electronics into recovered electrification metals. Comstock’s innovations group is also developing and using artificial intelligence technologies for advanced materials development and mineral discovery for sustainable mining. To learn more, please visit www.comstock.inc.

Comstock Social Media Policy

Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Contacts

For investor inquiries:
William McCarthy, Chief Operating Officer
Tel (775) 413-6222
[email protected]

For media inquiries:
Tracy Saville, Director of Marketing
Tel (775) 847-7573
[email protected]

Forward-Looking Statements
 

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.