Market Newsdesk

February 12, 2025 6:45 pm

Forum Energy Technologies Announces Timing of Fourth Quarter and Full Year 2024 Earnings Conference Call

Forum Energy Technologies Announces Timing of Fourth Quarter and Full Year 2024 Earnings Conference Call

HOUSTON–(BUSINESS WIRE)–
Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its fourth quarter and full year 2024 earnings conference call at 10:00 a.m. Central Time on Friday, February 21, 2025. FET will issue a press release reporting its fourth quarter and full year 2024 earnings prior to the conference call.

The call will be webcast through the Investor Relations link on FET’s website at ir.f-e-t.com.

Participants who want to ask a question during the call should register on FET’s Investor Relations website page or click here to receive the dial-in numbers and a unique PIN. Participants are encouraged to join the call approximately ten minutes prior to the start time. A replay of the call will be available on the Investor Relations website beginning on February 21, 2025, at approximately 5:00 p.m. Central Time.

FET is a global company, serving the oil, natural gas, industrial and renewable energy industries. FET provides value added solutions that increase the safety and efficiency of energy exploration and production. We are an environmentally and socially responsible company headquartered in Houston, TX with manufacturing, distribution and service facilities strategically located throughout the world. For more information, please visit www.f-e-t.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250212311099/en/

Rob Kukla

Director Investor Relations

281.994.3763

[email protected]

KEYWORDS: United States North America Texas

INDUSTRY KEYWORDS: Energy Other Energy Oil/Gas

MEDIA:

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February 12, 2025 6:43 pm

Copa Holdings Reports Fourth-Quarter Financial Results

PANAMA CITY, Feb. 12, 2025 (GLOBE NEWSWIRE) — Copa Holdings, S.A. (NYSE: CPA), today announced financial results for the fourth quarter (4Q24) and the full year 2024. The terms “Copa Holdings” and the “Company” refer to the consolidated entity. The following financial information, unless otherwise indicated, is presented in accordance with International Financial Reporting Standards (IFRS). See the accompanying reconciliation of non-IFRS financial information to IFRS financial information included in the financial tables section of this earnings release. Unless otherwise stated, all comparisons with prior periods refer to the fourth quarter of 2023 (4Q23).

OPERATING AND FINANCIAL HIGHLIGHTS

Copa Holdings reported a net profit of US$166.2 million or US$3.99 per share for 4Q24. For the full year 2024, the Company reported a net profit of US$608.5 million or US$14.56 per share, compared to a full-year adjusted net profit of US$671.0 million or US$16.68 per share in 2023.
The Company reported an operating profit of US$204.2 million and an operating margin of 23.3% for the quarter. For the full year 2024, the Company reported an operating profit of US$753.4 million and an operating margin of 21.9%, compared to a full-year operating profit of US$807.2 million and an operating margin of 23.4% in 2023.
Capacity, measured in available seat miles (ASMs), increased by 7.2% in 4Q24 compared to 4Q23.
Operating cost per available seat mile excluding fuel (Ex-fuel CASM) came in at 5.9 cents in the quarter, a decrease of 2.6% when compared to 4Q23.
Revenue per available seat mile (RASM) came in at 11.3 cents in the quarter, a 10.4% decrease compared to 4Q23.
The Company ended the year with approximately US$1.4 billion in cash, short-term and long-term investments, which represent 42% of the last twelve months’ revenues.
The Company closed the year with total debt, including lease liabilities, of US$2.0 billion, while the Adjusted Net Debt to EBITDA ratio ended at 0.5 times.
In 2024, the Company repurchased US$87 million worth of shares under its ongoing US$200 million share repurchase program authorized by the Board of Directors. This represents approximately 2% of the Company’s total outstanding shares as of year-end 2024.
During the fourth quarter, the Company took delivery of two Boeing 737 MAX 8 aircraft, ending the year with a consolidated fleet of 112 aircraft – 67 Boeing 737-800s, 32 Boeing 737 MAX 9s, 9 Boeing 737-700s, 3 Boeing 737 MAX 8, and 1 Boeing 737-800 freighter.

Subsequent Events

On February 12, 2025, the Board of Directors of Copa Holdings approved a 2025 quarterly dividend payment of US$1.61 per share, maintaining last year’s dividend payment. Dividends will be distributed in March, June, September, and December. The first quarterly dividend will be paid on March 14, 2024, to shareholders on record as of February 28, 2024.
In January, Copa Airlines was recognized by Cirium for the tenth time as the most on-time airline in Latin America in 2024. Copa Airlines’ on-time performance of 88.2% for the year was the highest of any carrier in the Americas and the third best in the world, reaffirming its position as one of the leading airlines in the industry.
After an extensive internal and external search, the Company is pleased to announce the appointment of Peter Donkersloot as Chief Financial Officer effective March 10, 2025. Currently Copa’s Vice President of Human Resources, Peter brings over 20 years of international experience across the Americas, serving as General Manager for various companies across the continent and holding key positions in Commercial, Operations, Logistics, Risk Assessment, and Financial Planning. Peter holds a Global MBA from the Thunderbird School of Global Management and a degree in Industrial Engineering from Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM).

Consolidated Financial & Operating Highlights	4Q24	4Q23	Variance Vs 4Q23	3Q24	Variance Vs 3Q24	YTD24	YTD23	Variance Vs YTD23
Revenue Passengers Carried (000s)	3,444	3,310	4.0%	3,449	(0.2)%	13,467	12,442	8.2%
Revenue Passengers OnBoard (000s)	5,168	4,930	4.8%	5,187	(0.4)%	20,115	18,566	8.3%
RPMs (millions)	6,682	6,263	6.7%	6,711	(0.4)%	25,966	24,052	8.0%
ASMs (millions)	7,747	7,228	7.2%	7,785	(0.5)%	30,077	27,700	8.6%
Load Factor	86.3%	86.7%	-0.4 p.p	86.2%	0.1 p.p	86.3%	86.8%	-0.5 p.p
Yield (US$ Cents)	12.5	14.0	(10.8)%	12.2	2.3%	12.7	13.8	(8.1)%
PRASM (US$ Cents)	10.8	12.1	(11.2)%	10.5	2.3%	10.9	12.0	(8.6)%
RASM (US$ Cents)	11.3	12.6	(10.4)%	11.0	3.1%	11.5	12.5	(8.2)%
CASM (US$ Cents)	8.7	9.7	(10.1)%	8.7	(0.7)%	8.9	9.6	(6.5)%
CASM Excl. Fuel (US$ Cents)	5.9	6.0	(2.6)%	5.7	3.1%	5.8	6.0	(3.0)%
Fuel Gallons Consumed (millions)	91.2	85.6	6.5%	91.3	(0.1)%	354.5	327.6	8.2%
Avg. Price Per Fuel Gallon (US$)	2.38	3.08	(22.6)%	2.60	(8.3)%	2.66	3.02	(11.9)%
Average Length of Haul (miles)	1,940	1,892	2.6%	1,946	(0.3)%	1,928	1,933	(0.3)%
Average Stage Length (miles)	1,260	1,229	2.6%	1,267	(0.6)%	1,257	1,251	0.5%
Departures	37,596	36,207	3.8%	37,478	0.3%	146,607	137,044	7.0%
Block Hours	121,549	115,118	5.6%	120,975	0.5%	470,751	438,913	7.3%
Average Aircraft Utilization (hours)	12.0	11.9	0.1%	12.0	—%	11.9	11.9	(0.4)%
Operating Revenues (US$ millions)	877.1	912.8	(3.9)%	854.7	2.6%	3,444.6	3,457.0	(0.4)%
Operating Profit (Loss) (US$ millions)	204.2	214.3	(4.7)%	173.7	17.5%	753.4	807.2	(6.7)%
Operating Margin	23.3%	23.5%	-0.2 p.p	20.3%	3.0 p.p	21.9%	23.4%	-1.5 p.p
Net Profit (Loss) (US$ millions)	166.2	187.7	(11.5)%	146.0	13.8%	608.5	514.1	18.4%
Adjusted Net Profit (Loss) (US$ millions) (1)	166.2	184.3	(9.8)%	146.0	13.8%	608.5	671.0	(9.3)%
Basic EPS (US$)	3.99	4.45	(10.5)%	3.50	13.9%	14.56	12.78	13.9%
Adjusted Basic EPS (US$) (1)	3.99	4.37	(8.9)%	3.50	13.9%	14.56	16.68	(12.7)%
Shares for calculation of Basic EPS (000s)	41,696	42,150	(1.1) %	41,728	(0.1)%	41,796	40,228	3.9%

^{(1)

Excludes Special Items. This earnings release includes a reconciliation of non-IFRS financial measures to the comparable IFRS measures.}

FULL 4Q24 EARNINGS RELEASE AVAILABLE FOR DOWNLOAD AT:

https://copa.gcs-web.com/financial-information/quarterly-results

4Q24 EARNINGS RESULTS CONFERENCE CALL AND WEBCAST

Date:	February 13, 2025
Time:	11:00 AM US ET (11:00 AM Local Time)
Join by phone:	https://register.vevent.com/register/BI3d3cbd8e7b2244fdad7627b4aa596d8a
Webcast (listen-only):	https://copa.gcs-web.com/events-and-presentations
Speakers:	Pedro Heilbron, Chief Executive Officer
	José Montero, Chief Financial Officer

About Copa Holdings

Copa Holdings is a leading Latin American provider of passenger and cargo services. The Company, through its operating subsidiaries, provides service to countries in North, Central, and South America and the Caribbean. For more information visit:

www.copaair.com

.

CONTACT: Copa Holdings S.A.

Investor Relations:

Ph: 011 507 304-2774
www.copaair.com (IR section)

This release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current plans, estimates, and expectations, and are not guarantees of future performance. They are based on management’s expectations that involve several business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statement. The risks and uncertainties relating to the forward-looking statements in this release are among those disclosed in Copa Holdings’ filed disclosure documents and are, therefore, subject to change without prior notice.

CPA-G

Copa Holdings, S. A. and Subsidiaries

Consolidated statement of profit or loss

(In US$ thousands)

	Unaudited	Unaudited	%	Unaudited	%	Unaudited	Audited	%
	4Q24	4Q23	Change	3Q24	Change	YTD24	YTD23	Change
Operating Revenues
Passenger revenue	833,189	875,257	(4.8%)	818,381	1.8%	3,291,793	3,316,362	(0.7%)
Cargo and mail revenue	28,966	26,534	9.2%	24,446	18.5%	100,507	97,105	3.5%
Other operating revenue	14,896	11,049	34.8%	11,881	25.4%	52,330	43,538	20.2%
Total Operating Revenue	877,052	912,840	(3.9 %)	854,708	2.6 %	3,444,629	3,457,005	(0.4 %)

Operating Expenses
Fuel	219,232	264,166	(17.0%)	238,714	(8.2%)	949,309	995,862	(4.7%)
Wages, salaries, benefits and other employees’ expenses	123,575	119,669	3.3%	117,877	4.8%	470,644	436,526	7.8%
Passenger servicing	25,748	24,148	6.6%	26,232	(1.8%)	109,243	89,146	22.5%
Airport facilities and handling charges	64,655	59,010	9.6%	65,029	(0.6%)	252,798	221,878	13.9%
Sales and distribution	50,548	55,111	(8.3%)	49,716	1.7%	207,968	227,171	(8.5%)
Maintenance, materials and repairs	34,567	31,276	10.5%	34,860	(0.8%)	105,936	132,531	(20.1%)
Depreciation and amortization	85,085	80,261	6.0%	82,797	2.8%	330,710	306,114	8.0%
Flight operations	34,675	27,987	23.9%	31,901	8.7%	129,521	109,892	17.9%
Other operating and administrative expenses	34,778	36,875	(5.7%)	33,871	2.7%	135,110	130,656	3.4%
Total Operating Expense	672,862	698,504	(3.7 %)	680,998	(1.2 %)	2,691,238	2,649,777	1.6 %

Operating Profit/(Loss)	204,190	214,335	(4.7 %)	173,710	17.5 %	753,392	807,228	(6.7 %)

Non-operating Income (Expense):
Finance cost	(21,498)	(20,408)	5.3%	(23,523)	(8.6%)	(84,493)	(158,216)	(46.6%)
Finance income	16,064	14,289	12.4%	15,565	3.2%	58,912	50,209	17.3%
Gain (loss) on foreign currency fluctuations	(11,489)	(272)	4125.5%	(2,491)	361.1%	(33,991)	3,076	(1205.0%)
Net change in fair value of derivatives	2,706	—	—%	(762)	(455.0%)	4,469	(98,347)	(104.5%)
Other non-operating income (expense)	(501)	3,126	(116.0%)	6,787	(107.4%)	7,940	7,153	11.0%
Total Non-Operating Income/(Expense)	(14,718 )	(3,264 )	350.9 %	(4,425 )	232.6 %	(47,163 )	(196,126 )	(76.0 %)

Profit before taxes	189,471	211,071	(10.2 %)	169,285	11.9 %	706,229	611,102	15.6 %

Income tax expense	(23,290)	(23,378)	(0.4%)	(23,259)	0.1%	(97,703)	(97,004)	0.7%

Net Profit/(Loss)	166,182	187,693	(11.5 %)	146,026	13.8 %	608,526	514,098	18.4 %

Copa Holdings, S. A. and Subsidiaries

Consolidated statement of financial position

(In US$ thousands)

	December 2024	December 2023
ASSETS	(Unaudited)	(Audited)
Cash and cash equivalents	613,313	206,375
Short-term investments	585,919	708,809
Total cash, cash equivalents and short-term investments	1,199,232	915,184
Accounts receivable, net	166,014	156,720
Accounts receivable from related parties	2,976	2,527
Expendable parts and supplies, net	132,341	116,604
Prepaid expenses	42,926	44,635
Prepaid income tax	11,712	66
Other current assets	21,711	32,227
	377,681	352,780
TOTAL CURRENT ASSETS	1,576,913	1,267,963
Long-term investments	248,936	258,934
Long-term prepaid expenses	8,237	9,633
Property and equipment, net	3,458,261	3,238,632
Right of use assets	309,302	281,146
Intangible, net	96,754	87,986
Net defined benefit assets	1,058	5,346
Deferred tax assets	20,736	30,148
Other Non-Current Assets	22,113	17,048
TOTAL NON-CURRENT ASSETS	4,165,397	3,928,872
TOTAL ASSETS	5,742,310	5,196,836
LIABILITIES
Loans and borrowings	254,854	222,430
Current portion of lease liability	59,103	68,304
Accounts payable	227,095	182,303
Accounts payable to related parties	1,624	1,228
Air traffic liability	616,105	611,856
Frequent flyer deferred revenue	139,423	124,815
Taxes Payable	55,505	44,210
Accrued expenses payable	62,673	64,940
Income tax payable	9,828	26,741
Other Current Liabilities	1,272	1,403
TOTAL CURRENT LIABILITIES	1,427,482	1,348,229

Loans and borrowings long-term	1,415,953	1,240,261
Lease Liability	270,594	215,353
Deferred tax Liabilities	37,497	36,369
Other long – term liabilities	217,626	234,474
TOTAL NON-CURRENT LIABILITIES	1,941,670	1,726,457
TOTAL LIABILITIES	3,369,152	3,074,685
EQUITY
Class A – 34,195,704 issued and 30,234,831 outstanding	23,244	23,201
Class B – 10,938,125	7,466	7,466
Additional Paid-In Capital	214,542	209,102
Treasury Stock	(291,438)	(204,130)
Retained Earnings	1,826,565	1,581,739
Net profit	608,526	514,098
Other comprehensive loss	(15,748)	(9,326)
TOTAL EQUITY	2,373,158	2,122,150
TOTAL EQUITY LIABILITIES	5,742,310	5,196,836

Copa Holdings, S. A. and Subsidiaries

Consolidated statement of cash flows

For the twelve months ended

(In US$ thousands)

	2024		2023		2022
	(Unaudited)		(Audited)		(Audited)
Cash flow from operating activities		969,729		1,020,974		737,188
Cash flow (used in) investing activities		(343,142)		(542,995)		(552,151)
Cash flow (used in) financing activities		(219,649)		(394,028)		(273,694)
Net increase (decrease) in cash and cash equivalents		406,938		83,951		(88,657 )
Cash and cash equivalents at January 1		206,375		122,424		211,081
Cash and cash equivalents at December 31	$	613,313	$	206,375	$	122,424

Short-term investments		585,919		708,809		812,323
Long-term investments		248,936		258,934		202,056
Total cash and cash equivalents and investments at December 31	$	1,448,168	$	1,174,119	$	1,136,803

Copa Holdings, S.A.

NON-IFRS FINANCIAL MEASURE RECONCILIATION

This press release includes the following non-IFRS financial measures: Adjusted Net Profit, Adjusted Basic EPS, and Operating CASM Excluding Fuel. This supplemental information is presented because we believe it is a useful indicator of our operating performance and is useful in comparing our performance with other companies in the airline industry. These measures should not be considered in isolation and should be considered together with comparable IFRS measures, in particular operating profit, and net profit. The following is a reconciliation of these non-IFRS financial measures to the comparable IFRS measures:

Reconciliation of Adjusted Net Profit	4Q24		4Q23		3Q24		YTD24		YTD23

Net Profit as Reported	$	166,182	$	187,693	$	146,026	$	608,526	$	514,098
Interest expense related to the settlement of the convertible notes	$	—	$	—	$	—	$	—	$	64,894
Net change in fair value of derivatives	$	—	$	—	$	—	$	—	$	98,347
Net change in fair value of financial investments	$	—	$	(3,372)	$	—	$	—	$	(6,349)
Adjusted Net Profit	$	166,182	$	184,321	$	146,026	$	608,526	$	670,990

Reconciliation of Adjusted Basic EPS	4Q24		4Q23		3Q24		YTD24		YTD23

Adjusted Net Profit	$	166,182	$	184,321	$	146,026	$	608,526	$	670,990
Shares used for calculation of Basic EPS		41,696		42,150		41,728		41,796		40,228
Adjusted Basic Earnings per share (Adjusted Basic EPS)	$	3.99	$	4.37	$	3.50	$	14.56	$	16.68

Reconciliation of Operating Costs per ASM
Excluding Fuel (CASM Excl. Fuel)	4Q24		4Q23		3Q24		YTD24		YTD23

Operating Costs per ASM as Reported (in US$ Cents)		8.7		9.7		8.7		8.9		9.6
Aircraft Fuel Cost per ASM (in US$ Cents)		2.8		3.7		3.1		3.2		3.6
Operating Costs per ASM excluding fuel (in US$ Cents)		5.9		6.0		5.7		5.8		6.0

February 12, 2025 6:38 pm

InterCure Names Alexander Rabinovich as Chairman Replacing Ehud Barak

PR Newswire

NEW YORK and HERZLIYA, Israel, Feb. 12, 2025 /PRNewswire/ — InterCure Ltd. (NASDAQ: INCR) (TASE: INCR) (dba Canndoc) (“InterCure” or the “Company”), announces today that Mr. Ehud Barak will step down as Chairman of the board of directors of the Company (the “Board”), effective February 13, 2025. He will be succeeded by Mr. Alexander Rabinovich, who has successfully led the Company as CEO for the past five years, executing hundreds of percentages of profitable growth, building strategic international partnerships, and establishing InterCure’s position as a leader in pharmaceutical cannabis.

Mr. Barak, who is marking his 83^rd birthday today, has decided to pursue personal endeavors after six years of service as Chairman of our Board. InterCure extends its deepest appreciation to Mr. Barak for his contributions, which has helped guide the Company’s progress alongside its executive team. The Company wishes him all the best in his future endeavors and congratulates him on his birthday.

Further to the Company’s Report on Form 6-K dated December 19, 2024 (the “Report”), announcing the private placement financing and the approval of the item on the agenda of the Company’s extraordinary general meeting on February 3, 2025, InterCure successfully completed its financing, securing NIS 66 million (approximately $18.2 million) to support the recovery of Nir Oz Facility. The financing also included the issuance of warrants which may further increase the proceeds up to a total of approximately NIS 107 million (approximately $29.8 million) if fully exercised, to support the post-war expansion of the facility in collaboration with the “Tkumah” administration. The funding includes investments from key shareholders of the Company, including our CEO, Mr. Rabinovich, as well as lead investors Mr. Yaron Yakobi and Mr. Ynon Hagag. The completion included the receipt of funds under a loan agreement from a leading Israeli bank previously announced in the Report, further strengthening its ability to recover and execute its operations in accordance with its strategic plans. In addition, the Company anticipates receiving additional substantial payments from the Israeli authorities as part of the full compensation for war-related damages, including loss of profits the Company is entitled to.

InterCure is currently executing its war recovery plan restoring the Nir Oz facility, re-launching its products aside new products and rebuilding its pharmaceutical cannabis portfolio to meet patient needs.

“I joined InterCure over six years ago, deeply believing in the power of pharmaceutical cannabis to improve the lives of patients around the globe. Throughout my time with the Company, we have upheld the highest professional standards, ensuring access to high-quality pharmaceutical standard cannabis products for those who need it most. I am incredibly proud of what we have achieved together,” said Mr. Barak. “We faced great challenges, particularly following the events of October 7, 2023, which severely impacted our Nir Oz facility, and impacted our communities and employees. However, under the exceptional leadership of Alex, the Board, and our dedicated employees, InterCure is returning stronger than ever. I extend my deepest gratitude to Alex, the Board, and everyone who has been part of this journey. InterCure will always have a special place in my heart, and I am confident that the Company will continue to lead and innovate in the global pharmaceutical cannabis market.”

“During his six years as our Chairman, Ehud has made meaningful contributions not only to InterCure but to our young industry, improving the quality of life of many patients. I sincerely appreciate his insights and support throughout the years,” said Mr. Alexander Rabinovich, CEO and incoming Chairman of the Board. “As we look ahead, we remain focused on completing the rehabilitation of our Nir Oz facility, a process that remains ongoing and essential for our recovery. We appreciate the strong vote of confidence from our investors and remain committed to ensuring the Company’s long-term stability and growth. At the same time, we continue to work closely with the Israeli authorities to secure the necessary support for the damages sustained. We remain hopeful for a swift end to the ongoing war and the return of all hostages, including our employees and our close friends from the kibbutzim surrounding the Gaza strip, to their homes. We believe that completing the post-war damage recovery processes will enable the Company to return to profitable growth without further delay, including exercising the Cookies agreement and expanding international operations in Germany, the UK, and Australia. With the successful financing round, we are reinforcing our position and ensuring patients continue to have access to a highest quality medical cannabis.”

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the ordinary shares or warrants in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About InterCure (dba Canndoc)

InterCure (dba Canndoc) (NASDAQ: INCR) (TASE: INCR) is the leading, profitable, and fastest growing cannabis company outside of North America. Canndoc, a wholly owned subsidiary of InterCure, is Israel’s largest licensed cannabis producer and one of the first to offer Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products. InterCure leverages its market leading distribution network, best in class international partnerships and a high-margin vertically integrated “seed-to-sale” model to lead the fastest growing cannabis global market outside of North America.

For more information, visit www.intercure.co.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements may include, but are not limited to, the Company’s success of its global expansion plans, its ability to expand the Nir Oz facility, its ability to recover and execute on its strategic plans and recovery plan, its ability to return to profitability without delay, potential compensation for war-related damages, its ability to successfully raise additional amounts under the financing, its ability to lead and innovate in the pharmaceutical cannabis market, as well as statements, other than historical facts, that address activities, events or developments that InterCure intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as “believes,” “hopes,” “may,” “anticipates,” “should,” “intends,” “plans,” “will,” “expects,” “estimates,” “projects,” “positioned,” “strategy” and similar expressions and are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Many factors could cause InterCure’s actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: the Company’s success of its global expansion plans, its continued growth, the expected operations, financial results business strategy, competitive strengths, goals and expansion and growth plans, expansion strategy to major markets worldwide, the impact of the war in Israel and the war in Ukraine and the conditions of the markets generally. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond InterCure’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: changes in general economic, business and political conditions, changes in applicable laws, the U.S. regulatory landscapes and enforcement related to cannabis, changes in public opinion and perception of the cannabis industry, and reliance on the expertise and judgment of our senior management. More detailed information about the risks and uncertainties affecting us is contained under the heading “Risk Factors” included in the Company’s most recent Annual Report on Form 20-F and in other filings that we have made and may make with the Securities and Exchange Commission in the future.

Contact:

InterCure Ltd.

Amos Cohen, Chief Financial Officer
[email protected]

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SOURCE InterCure Ltd.

February 12, 2025 6:36 pm

AMH Announces 15% Increase in Quarterly Distribution

PR Newswire

LAS VEGAS
, Feb. 12, 2025 /PRNewswire/ — AMH (NYSE: AMH) (the “Company”), a leading large-scale integrated owner, operator and developer of single-family rental homes, today announced that the Board of Trustees declared a dividend of $0.30 per share on the Company’s common shares for the first quarter of 2025. This represents an increase of 15 percent versus the prior quarterly dividend rate of $0.26 per share. The distribution will be payable in cash on March 31, 2025 to shareholders of record on March 14, 2025.

The Board of Trustees also declared a per share quarterly distribution on the Company’s cumulative redeemable perpetual preferred shares of $0.36719 per share on the 5.875% Series G shares and $0.39063 per share on the 6.250% Series H shares payable in cash on March 31, 2025 to shareholders of record on March 14, 2025.

About AMH

AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes. We’re an internally managed Maryland real estate investment trust (REIT) focused on acquiring, developing, renovating, leasing and managing homes as rental properties. Our goal is to simplify the experience of leasing a home and deliver peace of mind to households across the country.

In recent years, we’ve been named one of U.S. News 2024 Best Real Estate Companies to Work For, Fortune’s 2023 Best Workplaces in Real Estate™, a 2024 Great Place to Work®, a 2024 Most Loved Workplace®, a 2024 Top U.S. Homebuilder by Builder100, and one of America’s Most Responsible Companies 2025 and Most Trustworthy Companies in America 2024 by Newsweek and Statista Inc. As of September 30, 2024, we owned nearly 60,000 single-family properties in the Southeast, Midwest, Southwest and Mountain West regions of the United States. Additional information about AMH is available on our website at www.amh.com.

AMH refers to one or more of American Homes 4 Rent, American Homes 4 Rent, L.P. and their subsidiaries and joint ventures. In certain states, we operate under AMH Living or American Homes 4 Rent. Please see www.amh.com/dba to learn more.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” that relate to beliefs, expectations or intentions and similar statements concerning matters that are not of historical fact and are generally accompanied by words such as “believe,” “expect,” “will,” “intend,” “anticipate” or other words that convey the uncertainty of future events or outcomes. These forward-looking statements include the payment and anticipated timing of the payment of distributions of the Company’s common and preferred shares. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While the Company’s management considers these expectations to be reasonable, they are inherently subject to risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control and could adversely affect our cash flows and ability to pay distributions. Additional information about these and other important factors that may cause our actual results to differ materially from anticipated results expressed or implied by these forward-looking statements is available in the Company’s most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement to conform to actual results or changes in expectations, except as required by applicable law.

AMH Contacts

Brian Nelson

Media Relations
Phone: (855) 774-4663
Email: [email protected]

Nicholas Fromm

Investor Relations
Phone: (855) 794-2447
Email: [email protected]

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SOURCE AMH

February 12, 2025 6:33 pm

SHAREHOLDER ALERT: The M&A Class Action Firm Encourages Stockholders of EMKR, CCRN, WMPN, ALVR to Act Now

PR Newswire

NEW YORK
, Feb. 12, 2025 /PRNewswire/ — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:

EMCORE Corporation (NASDAQ:

EMKR

), relating to its proposed merger with Velocity One Holdings, LP. Under the terms of the agreement, EMCORE stockholders will receive $3.10 per share of EMCORE common stock they own.

ACT NOW. The Shareholder Vote is scheduled for February 27, 2025.

Click here for more information
https://monteverdelaw.com/case/emcore-corporation-emkr/
. It is free and there is no cost or obligation to you.

Cross Country Healthcare, Inc. (NASDAQ:

CCRN

), relating to the proposed merger with Aya Healthcare. Under the terms of the agreement, shares of Cross Country will be converted into the right to receive $18.61 in cash.

ACT NOW. The Shareholder Vote is scheduled for February 28, 2025.

Click here for more
https://monteverdelaw.com/case/cross-country-healthcare-inc-ccrn/. It is free and there is no cost or obligation to you.

William Penn Bancorporation (Nasdaq:

WMPN

), relating to its proposed merger with Mid Penn Bancorp, Inc. Under the terms of the agreement, shareholders of William Penn will receive 0.4260 shares of Mid Penn common stock for each share of William Penn common stock. Additionally, all options of William Penn will be rolled into Mid Penn equivalent options. The implied transaction value is approximately $13.58 per William Penn share.

ACT NOW. The Shareholder Vote is scheduled for April 2, 2025.

Click here for more information
https://monteverdelaw.com/case/william-penn-bancorporation-wmpn/. It is free and there is no cost or obligation to you.

AlloVir, Inc. (Nasdaq:

ALVR

), relating to its proposed merger with Kalaris Therapeutics. Under the terms of the agreement, AlloVir will acquire 100% of the outstanding equity interest of Kalaris. Upon completion, pre-Merger AlloVir stockholders are expected to own approximately 25.05% of the combined company.

ACT NOW. The Shareholder Vote is scheduled for March 12, 2025.

Click here for more information
https://monteverdelaw.com/case/allovir-inc-alvr/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

Do you file class actions and go to Court?
When was the last time you recovered money for shareholders?
What cases did you recover money in and how much?

About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.

No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at [email protected] or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
[email protected]
Tel: (212) 971-1341

Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

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SOURCE Monteverde & Associates PC

February 12, 2025 6:21 pm

Nabors Announces Fourth Quarter 2024 Results

PR Newswire

HAMILTON, Bermuda
, Feb. 12, 2025/PRNewswire/ — Nabors Industries Ltd. (“Nabors” or the “Company”) (NYSE: NBR) today reported fourth quarter 2024 operating revenues of $730 million, compared to operating revenues of $732 million in the third quarter. The net loss attributable to Nabors shareholders for the quarter was $54 million, compared to a net loss of $56 million in the third quarter. This equates to a loss of $6.67 per diluted share, compared to a loss per diluted share of $6.86 in the third quarter. Fourth quarter adjusted EBITDA was $221 million, compared to $222 million in the previous quarter.

Highlights

Nabors shareholders approved the issuance of shares to Parker Wellbore (“Parker”) stockholders in connection with the merger between Parker and Nabors. Parker shareholders also approved the merger. Pending certain international regulatory approvals, the merger is expected to close during the first quarter of 2025.
Nabors received awards for three rigs in Argentina, two of which will be transferred from the U.S. on five-year contracts. The third rig is currently working in country and is scheduled to start its new contract before the end of the year. In addition, the Company received another award for an idle rig in Colombia. These reactivations are capital efficient opportunities to support growth, while improving Nabors’ asset utilization.
In the fourth quarter, SANAD deployed its ninth newbuild rig and is expected to start up two more in the first quarter of 2025. As Saudi Aramco continues to grow its natural gas activity, Nabors continues to participate in its customer’s expansion plans with commitments to add rigs built in the Kingdom over the coming years and its leading portfolio of drilling-related services.
In Rig Technologies, Canrig was awarded a comprehensive rig upgrade package by a third-party drilling contractor in the U.S. Canrig is currently pursuing a number of upgrade opportunities, both domestically and internationally. These projects demonstrate Canrig’s advanced technology suite, which enables contractors to remain competitive as the drilling market becomes increasingly demanding.

Anthony G. Petrello, Nabors Chairman, CEO and President, commented, “We are looking forward to adding Parker to the Nabors portfolio. Our integration planning reinforces the Parker attributes that we identified earlier. We are confident that this acquisition will advance our strategic objectives while creating value for our stakeholders.

“The market environment in the fourth quarter provided us with some challenges in the U.S., as operators continued to modulate their activity levels in oil basins, mainly driven by recent mergers. Leading edge pricing in this market remained steady, supporting our daily margins at relatively high levels. For 2025, we are planning for stable market activity through the early part of the year. Given this activity level,
we are responding with actions to improve efficiency and align our cost structure
.

“Our international businesses continued to expand in multiple markets, including Saudi Arabia and Argentina. Although our international success places pressure on our capital expenditures, these are attractive growth opportunities for multiyear contracts with high returns. In 2025, we have startups planned in the Kingdom, Argentina, Colombia, and Kuwait. We project these deployments will drive this segment’s margins higher through the year.

“SANAD, our 50/50 joint venture with Saudi Aramco, is progressively adding 50 rigs over approximately 10 years. Through 2024, SANAD has deployed nine of these units. The rigs work under six-year initial contracts that are structured to recover the invested capital over five years. This term is followed by a four-year renewal mechanism, providing at least 10 years of utilization.

“In 2025, SANAD’s working newbuild fleet should approximately double its contribution in adjusted EBITDA over 2024. SANAD’s expansion remains one of our most exciting investment opportunities. We believe that in the next several years our joint venture will start generating cash flow in excess of the annual investment required for the newbuild rigs, meaningfully increasing value for Nabors as a whole.”

Segment Results

International Drilling adjusted EBITDA totaled $112.0 million, compared to $116.0 million in the third quarter. Average rig count met activity expectations as it increased slightly to 85 driven by rig additions in Argentina and Saudi Arabia, mostly offset by rig suspensions in the Kingdom. Daily adjusted gross margin for the fourth quarter averaged $16,687 reflecting incremental costs associated with these rig start-ups and suspensions.

The U.S. Drilling segment reported fourth quarter adjusted EBITDA of $105.8 million, compared to $108.7 million in the third quarter. Nabors’ fourth quarter Lower 48 average rig count totaled 66, versus 68 in the third quarter. In the Lower 48, daily margins held up well in the fourth quarter. Daily adjusted gross margin averaged $14,940, versus $15,051 in the prior quarter. Leading edge pricing remained stable as average day rates reflected contracts rolling to the latest prices. The change in average pricing was mostly offset by reductions in operating expenses.

Drilling Solutions adjusted EBITDA was $33.8 million. The segment’s performance was impacted by Nabors’ rig count in the Lower 48. Internationally, NDS activity remained strong. Drilling Solutions gross margin expanded, topping 54%.

Rig Technologies adjusted EBITDA reached $9.2 million, a 51% increase compared to the third quarter. The increase was mainly due to higher shipments of capital equipment in the Middle East.

Adjusted Free Cash Flow

In the fourth quarter, EBITDA was in line with the prior quarter. A strong improvement in Rig Technologies compensated for the decline in U.S. drilling activity. Consolidated adjusted free cash flow in the fourth quarter was a use of $53 million, resulting in part from a temporary halt in payments by a client in Mexico and by higher capital expenditures.

William Restrepo, Nabors CFO, stated, “Two main factors impacted adjusted free cash flow. First, in Mexico, the collections shortfall totaled approximately $50 million in the fourth quarter. Second, our capital expenses were $241 million, $10 million above our target. Although our capex outside SANAD was $30 million below our target, the JV’s newbuild spending of $143 million exceeded our forecast by $40 million as its rig supplier continued to accelerate completion of construction milestones.

“SANAD consumed $90 million in cash during the fourth quarter. Before SANAD’s growth capital spending, its cash increased by $53 million. For the full year 2024, SANAD’s cash declined by $52 million after funding the investment of $271 million in its newbuild program. This demonstrates that SANAD’s cash increased by more than $200 million, highlighting the extraordinary strength of the existing fleet.

“For the full year, we forecast capital spending of $710 to $720 million. Approximately $360 million of that total will be directed to SANAD newbuild construction.

“We are projecting 2025 consolidated adjusted free cash flow at just over breakeven. The expected use of cash in SANAD is approximately $150 million. This implies that Nabors outside SANAD would generate positive adjusted free cash flow of at least $150 million in 2025. This would give us the ability to reduce Nabors gross debt by a significant amount.

“None of these forecasts include the impact of Parker Wellbore. We believe the acquired business will provide incremental free cash flow to the combined company, even before the expected synergies of $35 million.”

Outlook

Nabors expects the following metrics for the first quarter of 2025 (these expectations exclude the impact of Parker Wellbore):

U.S. Drilling

Lower 48 average rig count of approximately 61 rigs
Lower 48 daily adjusted gross margin of approximately $14,800
Alaska and Gulf of Mexico combined adjusted EBITDA approximately in line with the fourth quarter of 2024

International

Average rig count of 85-86 rigs
Daily adjusted gross margin of approximately $17,000

Drilling Solutions

Adjusted EBITDA of approximately $33 million

Rig Technologies

Adjusted EBITDA of approximately $5 million

Capital Expenditures

Capital expenditures of $195 – $205 million, with $80 – $85 million for the newbuilds in Saudi Arabia
Full-year capital expenditures of approximately $710 – $720 million, with $360 million for the SANAD newbuilds

Adjusted Free Cash Flow

Adjusted free cash flow for 2025 of approximately breakeven, with SANAD consuming approximately $150 million, while the remaining operations should generate around $150 million

Mr. Petrello concluded, “Nabors commitment to advanced technology is helping us navigate this current environment. The addition of the Parker business will strengthen our position, especially in our Drilling Solutions segment.

“Our investments today support our current operations as well as large scale growth, specifically in Saudi Arabia. Our opportunity in the Kingdom is unique in the drilling industry. It has potential for substantial cash generation as well as for transformational value creation for our shareholders.”

About Nabors Industries

Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With presence in more than 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership:

www.nabors.com

.

Forward-looking Statements

The information included in this press release includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to a number of risks and uncertainties, as disclosed by Nabors from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, Nabors’ actual results may differ materially from those indicated or implied by such forward-looking statements. The forward-looking statements contained in this press release reflect management’s estimates and beliefs as of the date of this press release. Nabors does not undertake to update these forward-looking statements.

Non-GAAP Disclaimer

This press release presents certain “non-GAAP” financial measures. The components of these non-GAAP measures are computed by using amounts that are determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”).
Adjusted operating income (loss) represents income (loss) from continuing operations before income taxes, interest expense, investment income (loss), and other, net.
Adjusted EBITDA is computed similarly, but also excludes depreciation and amortization expenses. In addition, adjusted EBITDA and adjusted operating income (loss) exclude certain cash expenses that the Company is obligated to make. Net debt is calculated as total debt minus the sum of cash, cash equivalents and short-term investments.

Adjusted free cash flow represents net cash provided by operating activities less cash used for capital expenditures, net of proceeds from sales of assets. Management believes that adjusted free cash flow is an important liquidity measure for the company and that it is useful to investors and management as a measure of the company’s ability to generate cash flow, after reinvesting in the company for future growth, that could be available for paying down debt or other financing cash flows, such as dividends to shareholders. Management believes that this non-GAAP measure is useful information to investors when comparing our cash flows with the cash flows of other companies.

Each of these non-GAAP measures has limitations and therefore should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria, including Adjusted EBITDA, adjusted operating income (loss), net debt, and adjusted free cash flow, because it believes that these financial measures accurately reflect the Company’s ongoing profitability, performance and liquidity. Securities analysts and investors also use these measures as some of the metrics on which they analyze the Company’s performance. Other companies in this industry may compute these measures differently. Reconciliations of consolidated adjusted EBITDA and adjusted operating income (loss) to income (loss) from continuing operations before income taxes, net debt to total debt, and adjusted free cash flow to net cash provided by operations, which are their nearest comparable GAAP financial measures, are included in the tables at the end of this press release.
We do not provide a forward-looking reconciliation of our outlook for Segment Adjusted EBITDA, Segment Gross Margin or Adjusted Free Cash Flow, as the amount and significance of items required to develop meaningful comparable GAAP financial measures cannot be estimated at this time without unreasonable efforts. These special items could be meaningful.

Investor Contacts: William C. Conroy, CFA, Vice President of Corporate Development & Investor Relations, +1 281-775-2423 or via e-mail [email protected], or Kara Peak, Director of Corporate Development & Investor Relations, +1 281-775-4954 or via email [email protected]. To request investor materials, contact Nabors’ corporate headquarters in Hamilton, Bermuda at +441-292-1510 or via e-mail [email protected]

No Offer or Solicitation

This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Important Additional Information and Where to Find It

In connection with the proposed transaction with Parker, Nabors filed a Registration Statement with the SEC on Form S-4 to register the shares of Nabors capital stock to be issued in connection with the proposed transaction. The Registration Statement included a joint proxy statement/prospectus of Nabors and Parker. The definitive joint proxy statement/prospectus was sent to the shareholders of each of Nabors and Parker to seek their approval of the proposed transaction and other related matters.

WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT ON FORM S-4 AND THE JOINT PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT PARKER, NABORS AND THE PROPOSED TRANSACTION. Investors and security holders are able to obtain these materials and other documents filed with the SEC by Nabors or Parker free of charge at the SEC’s website, www.sec.gov, or from Nabors at its website, www.nabors.com, or from Parker at its website, www.parkerwellbore.com.

Participants in the Solicitation

Nabors and certain of its directors, executive officers and other employees, and Parker and certain of its directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies for security holder approvals to be obtained for the proposed transaction. A description of participants’ direct or indirect interests, by security holdings or otherwise, is included in the joint proxy statement/prospectus relating to the proposed transaction filed with the SEC. Information regarding Nabors’ directors and executive officers is available in its proxy statement filed with the SEC on April 25, 2024 in connection with its 2024 annual meeting of shareholders (the “Annual Meeting Proxy Statement”) under “Proposal 1—Election of Directors— Director Nominees,” “Proposal 1—Election of Directors—Other Executive Officers,” “Compensation Discussion and Analysis” and “Share Ownership of Directors and Executive Officers.” To the extent holdings of securities by potential Nabors participants (or the identity of such participants) have changed since the information printed in the Annual Meeting Proxy Statement, such information has been or will be reflected on Nabors’ Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You may obtain free copies of these documents using the sources indicated above. Information regarding Parker’s directors and executive officers is available on Parker’s website as indicated above.

NABORS INDUSTRIES LTD. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(Unaudited)

	Three Months Ended			Year Ended
	December 31,		September 30,	December 31,
(In thousands, except per share amounts)	2024	2023	2024	2024	2023

Revenues and other income:
Operating revenues	$ 729,819	$ 725,801	$ 731,805	$ 2,930,126	$ 3,005,981
Investment income (loss)	8,828	12,042	11,503	38,713	43,820
Total revenues and other income	738,647	737,843	743,308	2,968,839	3,049,801

Costs and other deductions:
Direct costs	433,404	424,769	431,705	1,742,411	1,790,380
General and administrative expenses	61,436	57,003	63,976	249,317	244,147
Research and engineering	14,434	13,926	14,404	57,063	56,297
Depreciation and amortization	156,348	161,228	159,234	633,408	645,294
Interest expense	53,642	49,938	55,350	210,864	185,285
Other, net	37,021	7,878	41,608	106,816	(726)
Total costs and other deductions	756,285	714,742	766,277	2,999,879	2,920,677

Income (loss) before income taxes	(17,638)	23,101	(22,969)	(31,040)	129,124
Income tax expense (benefit)	15,231	19,244	10,118	56,947	79,220

Net income (loss)	(32,869)	3,857	(33,087)	(87,987)	49,904
Less: Net (income) loss attributable to noncontrolling interest	(20,802)	(20,560)	(22,738)	(88,097)	(61,688)
Net income (loss) attributable to Nabors	$ (53,671)	$ (16,703)	$ (55,825)	$ (176,084)	$ (11,784)

Earnings (losses) per share:
Basic	$ (6.67)	$ (2.70)	$ (6.86)	$ (22.37)	$ (5.49)
Diluted	$ (6.67)	$ (2.70)	$ (6.86)	$ (22.37)	$ (5.49)

Weighted-average number of common shares outstanding:
Basic	9,213	9,133	9,213	9,202	9,159
Diluted	9,213	9,133	9,213	9,202	9,159


Adjusted EBITDA	$ 220,545	$ 230,103	$ 221,720	$ 881,335	$ 915,157

Adjusted operating income (loss)	$ 64,197	$ 68,875	$ 62,486	$ 247,927	$ 269,863

NABORS INDUSTRIES LTD. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)

	December 31,	September 30,	December 31,
(In thousands)	2024	2024	2023

ASSETS
Current assets:
Cash and short-term investments	$ 397,299	$ 459,302	$ 1,070,178
Accounts receivable, net	387,970	384,723	347,837
Other current assets	214,268	228,300	227,663
Total current assets	999,537	1,072,325	1,645,678
Property, plant and equipment, net	2,830,957	2,766,411	2,898,728
Other long-term assets	673,807	714,900	733,559
Total assets	$ 4,504,301	$ 4,553,636	$ 5,277,965

LIABILITIES AND EQUITY
Current liabilities:
Current debt	$ –	$ –	$ 629,621
Trade accounts payable	321,030	316,694	294,442
Other current liabilities	250,887	254,884	289,918
Total current liabilities	571,917	571,578	1,213,981
Long-term debt	2,505,217	2,503,270	2,511,519
Other long-term liabilities	220,829	244,679	271,380
Total liabilities	3,297,963	3,319,527	3,996,880

Redeemable noncontrolling interest in subsidiary	785,091	773,525	739,075

Equity:
Shareholders’ equity	134,996	191,363	326,614
Noncontrolling interest	286,251	269,221	215,396
Total equity	421,247	460,584	542,010
Total liabilities and equity	$ 4,504,301	$ 4,553,636	$ 5,277,965

NABORS INDUSTRIES LTD. AND SUBSIDIARIES
SEGMENT REPORTING
(Unaudited)

The following tables set forth certain information with respect to our reportable segments and rig activity:


		Three Months Ended			Year Ended
		December 31,		September 30,	December 31,
(In thousands, except rig activity)		2024	2023	2024	2024	2023

Operating revenues:
	U.S. Drilling	$ 241,637	$ 265,762	$ 254,773	$ 1,028,122	$ 1,207,629
	International Drilling	371,406	342,771	368,594	1,446,092	1,345,249
	Drilling Solutions	75,992	77,028	79,544	314,071	301,757
	Rig Technologies (1)	56,166	59,287	45,809	201,677	242,768
	Other reconciling items (2)	(15,382)	(19,047)	(16,915)	(59,836)	(91,422)
	Total operating revenues	$ 729,819	$ 725,801	$ 731,805	$ 2,930,126	$ 3,005,981

Adjusted EBITDA: (3)
	U.S. Drilling	$ 105,757	$ 118,371	$ 108,660	$ 448,840	$ 533,663
	International Drilling	111,962	105,540	115,951	436,782	388,654
	Drilling Solutions	33,809	34,502	34,311	132,375	129,591
	Rig Technologies (1)	9,208	8,811	6,104	29,443	27,394
	Other reconciling items (4)	(40,191)	(37,121)	(43,306)	(166,105)	(164,145)
	Total adjusted EBITDA	$ 220,545	$ 230,103	$ 221,720	$ 881,335	$ 915,157

Adjusted operating income (loss): (5)
	U.S. Drilling	$ 38,973	$ 51,494	$ 41,694	$ 176,281	$ 262,353
	International Drilling	29,528	18,642	32,182	107,858	40,868
	Drilling Solutions	28,944	30,127	29,231	112,387	110,957
	Rig Technologies (1)	8,413	5,788	2,761	20,243	19,529
	Other reconciling items (4)	(41,661)	(37,176)	(43,382)	(168,842)	(163,844)
	Total adjusted operating income (loss)	$ 64,197	$ 68,875	$ 62,486	$ 247,927	$ 269,863

Rig activity:
Average Rigs Working: (7)
	Lower 48	65.9	70.3	67.8	68.6	79.6
	Other US	6.8	6.0	6.2	6.5	6.7
	U.S. Drilling	72.7	76.3	74.0	75.1	86.3
	International Drilling	84.8	79.6	84.7	83.7	77.6
	Total average rigs working	157.5	155.9	158.7	158.8	163.9

Daily Rig Revenue: (6),(8)
	Lower 48	$ 33,396	$ 35,776	$ 34,812	$ 34,771	$ 36,202
	Other US	62,624	62,346	66,352	65,264	63,866
	U.S. Drilling (10)	36,137	37,865	37,441	37,419	38,338
	International Drilling	47,620	46,782	47,281	47,189	47,484

Daily Adjusted Gross Margin: (6),(9)
	Lower 48	$ 14,940	$ 16,240	$ 15,051	$ 15,411	$ 16,446
	Other US	34,707	34,641	37,363	36,440	33,850
	U.S. Drilling (10)	16,793	17,687	16,911	17,237	17,790
	International Drilling	16,687	16,651	17,085	16,478	15,992


(1)	Includes our oilfield equipment manufacturing activities.

(2)	Represents the elimination of inter-segment transactions related to our Rig Technologies operating segment.

(3)	Adjusted EBITDA represents net income (loss) before income tax expense (benefit), investment income (loss), interest expense, other, net and depreciation and amortization. Adjusted EBITDA is a non-GAAP financial measure and should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. In addition, adjusted EBITDA excludes certain cash expenses that the Company is obligated to make. However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria, including adjusted EBITDA and adjusted operating income (loss), because it believes that these financial measures accurately reflect the Company’s ongoing profitability and performance. Securities analysts and investors use this measure as one of the metrics on which they analyze the Company’s performance. Other companies in this industry may compute these measures differently. A reconciliation of this non-GAAP measure to net income (loss), which is the most closely comparable GAAP measure, is provided in the table set forth immediately following the heading “Reconciliation of Non-GAAP Financial Measures to Net Income (Loss)”.

(4)	Represents the elimination of inter-segment transactions and unallocated corporate expenses.

(5)	Adjusted operating income (loss) represents net income (loss) before income tax expense (benefit), investment income (loss), interest expense and other, net. Adjusted operating income (loss) is a non-GAAP financial measure and should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. In addition, adjusted operating income (loss) excludes certain cash expenses that the Company is obligated to make. However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria, including adjusted EBITDA and adjusted operating income (loss), because it believes that these financial measures accurately reflect the Company’s ongoing profitability and performance. Securities analysts and investors use this measure as one of the metrics on which they analyze the Company’s performance. Other companies in this industry may compute these measures differently. A reconciliation of this non-GAAP measure to net income (loss), which is the most closely comparable GAAP measure, is provided in the table set forth immediately following the heading “Reconciliation of Non-GAAP Financial Measures to Net Income (Loss)”.

(6)	Rig revenue days represents the number of days the Company’s rigs are contracted and performing under a contract during the period. These would typically include days in which operating, standby and move revenue is earned.

(7)	Average rigs working represents a measure of the average number of rigs operating during a given period. For example, one rig operating 45 days during a quarter represents approximately 0.5 average rigs working for the quarter. On an annual period, one rig operating 182.5 days represents approximately 0.5 average rigs working for the year. Average rigs working can also be calculated as rig revenue days during the period divided by the number of calendar days in the period.

(8)	Daily rig revenue represents operating revenue, divided by the total number of revenue days during the quarter.

(9)	Daily adjusted gross margin represents operating revenue less direct costs, divided by the total number of rig revenue days during the quarter.

(10)	The U.S. Drilling segment includes the Lower 48, Alaska, and Gulf of Mexico operating areas.

NABORS INDUSTRIES LTD. AND SUBSIDIARIES
Reconciliation of Earnings per Share
(Unaudited)

	Three Months Ended						Year Ended
	December 31,				September 30,		December 31,
(in thousands, except per share amounts)	2024		2023		2024		2024		2023

BASIC EPS:
Net income (loss) (numerator):
Income (loss), net of tax	$	(32,869)	$	3,857	$	(33,087)	$	(87,987)	$	49,904
Less: net (income) loss attributable to noncontrolling interest		(20,802)		(20,560)		(22,738)		(88,097)		(61,688)
Less: deemed dividends to SPAC public shareholders		—		(458)		—		—		(8,638)
Less: accrued distribution on redeemable noncontrolling interest in subsidiary		(7,794)		(7,517)		(7,363)		(29,723)		(29,824)
Numerator for basic earnings per share:
Adjusted income (loss), net of tax – basic	$	(61,465)	$	(24,678)	$	(63,188)	$	(205,807)	$	(50,246)

Weighted-average number of shares outstanding – basic		9,213		9,133		9,213		9,202		9,159
Earnings (losses) per share:
Total Basic	$	(6.67)	$	(2.70)	$	(6.86)	$	(22.37)	$	(5.49)

DILUTED EPS:
Adjusted income (loss), net of tax – diluted	$	(61,465)	$	(24,678)	$	(63,188)	$	(205,807)	$	(50,246)

Weighted-average number of shares outstanding – diluted		9,213		9,133		9,213		9,202		9,159
Earnings (losses) per share:
Total Diluted	$	(6.67)	$	(2.70)	$	(6.86)	$	(22.37)	$	(5.49)

NABORS INDUSTRIES LTD. AND SUBSIDIARIES
NON-GAAP FINANCIAL MEASURES
RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO ADJUSTED OPERATING INCOME (LOSS) BY SEGMENT
(Unaudited)

(In thousands)
	Three Months Ended December 31, 2024
	U.S. Drilling	International Drilling	Drilling Solutions	Rig Technologies	Other reconciling items	Total

Adjusted operating income (loss)	$ 38,973	$ 29,528	$ 28,944	$ 8,413	$ (41,661)	$ 64,197
Depreciation and amortization	66,784	82,434	4,865	795	1,470	156,348
Adjusted EBITDA	$ 105,757	$ 111,962	$ 33,809	$ 9,208	$ (40,191)	$ 220,545


	Three Months Ended December 31, 2023
	U.S. Drilling	International Drilling	Drilling Solutions	Rig Technologies	Other reconciling items	Total

Adjusted operating income (loss)	$ 51,494	$ 18,642	$ 30,127	$ 5,788	$ (37,176)	$ 68,875
Depreciation and amortization	66,877	86,898	4,375	3,023	55	161,228
Adjusted EBITDA	$ 118,371	$ 105,540	$ 34,502	$ 8,811	$ (37,121)	$ 230,103


	Three Months Ended September 30, 2024
	U.S. Drilling	International Drilling	Drilling Solutions	Rig Technologies	Other reconciling items	Total

Adjusted operating income (loss)	$ 41,694	$ 32,182	$ 29,231	$ 2,761	$ (43,382)	$ 62,486
Depreciation and amortization	66,966	83,769	5,080	3,343	76	159,234
Adjusted EBITDA	$ 108,660	$ 115,951	$ 34,311	$ 6,104	$ (43,306)	$ 221,720


	Year Ended December 31, 2024
	U.S. Drilling	International Drilling	Drilling Solutions	Rig Technologies	Other reconciling items	Total

Adjusted operating income (loss)	$ 176,281	$ 107,858	$ 112,387	$ 20,243	$ (168,842)	$ 247,927
Depreciation and amortization	272,559	328,924	19,988	9,200	2,737	633,408
Adjusted EBITDA	$ 448,840	$ 436,782	$ 132,375	$ 29,443	$ (166,105)	$ 881,335


	Year Ended December 31, 2023
	U.S. Drilling	International Drilling	Drilling Solutions	Rig Technologies	Other reconciling items	Total

Adjusted operating income (loss)	$ 262,353	$ 40,868	$ 110,957	$ 19,529	$ (163,844)	$ 269,863
Depreciation and amortization	271,310	347,786	18,634	7,865	(301)	645,294
Adjusted EBITDA	$ 533,663	$ 388,654	$ 129,591	$ 27,394	$ (164,145)	$ 915,157

NABORS INDUSTRIES LTD. AND SUBSIDIARIES
NON-GAAP FINANCIAL MEASURES
RECONCILIATION OF ADJUSTED GROSS MARGIN BY SEGMENT TO ADJUSTED OPERATING INCOME (LOSS) BY SEGMENT
(Unaudited)

		Three Months Ended			Year Ended
		December 31,		September 30,	December 31,
(In thousands)		2024	2023	2024	2024	2023

Lower 48 – U.S. Drilling
	Adjusted operating income (loss)	$ 27,354	$ 40,108	$ 30,353	$ 129,812	$ 215,041
	Plus: General and administrative costs	5,156	4,087	5,084	19,452	19,590
	Plus: Research and engineering	1,002	1,276	972	3,847	5,373
	GAAP Gross Margin	33,512	45,471	36,409	153,111	240,004
	Plus: Depreciation and amortization	57,019	59,545	57,470	233,555	238,033
	Adjusted gross margin	$ 90,531	$ 105,016	$ 93,879	$ 386,666	$ 478,037

Other – U.S. Drilling
	Adjusted operating income (loss)	$ 11,619	$ 11,386	$ 11,341	$ 46,469	$ 47,312
	Plus: General and administrative costs	305	315	313	1,250	1,314
	Plus: Research and engineering	72	89	42	206	438
	GAAP Gross Margin	11,996	11,790	11,696	47,925	49,064
	Plus: Depreciation and amortization	9,765	7,332	9,496	39,004	33,277
	Adjusted gross margin	$ 21,761	$ 19,122	$ 21,192	$ 86,929	$ 82,341

U.S. Drilling
	Adjusted operating income (loss)	$ 38,973	$ 51,494	$ 41,694	$ 176,281	$ 262,353
	Plus: General and administrative costs	5,461	4,402	5,397	20,702	20,904
	Plus: Research and engineering	1,074	1,365	1,014	4,053	5,811
	GAAP Gross Margin	45,508	57,261	48,105	201,036	289,068
	Plus: Depreciation and amortization	66,784	66,877	66,966	272,559	271,310
	Adjusted gross margin	$ 112,292	$ 124,138	$ 115,071	$ 473,595	$ 560,378

International Drilling
	Adjusted operating income (loss)	$ 29,528	$ 18,642	$ 32,182	$ 107,858	$ 40,868
	Plus: General and administrative costs	16,758	14,900	15,698	62,306	57,624
	Plus: Research and engineering	1,431	1,560	1,543	5,886	6,789
	GAAP Gross Margin	47,717	35,102	49,423	176,050	105,281
	Plus: Depreciation and amortization	82,434	86,898	83,769	328,924	347,786
	Adjusted gross margin	$ 130,151	$ 122,000	$ 133,192	$ 504,974	$ 453,067

	Adjusted gross margin by segment represents adjusted operating income (loss) plus general and administrative costs, research and engineering costs and depreciation and amortization.

NABORS INDUSTRIES LTD. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO NET INCOME (LOSS)
(Unaudited)

	Three Months Ended			Year Ended
	December 31,		September 30,	December 31,
(In thousands)	2024	2023	2024	2024	2023

Net income (loss)	$ (32,869)	$ 3,857	$ (33,087)	$ (87,987)	$ 49,904
Income tax expense (benefit)	15,231	19,244	10,118	56,947	79,220
Income (loss) from continuing operations before income taxes	(17,638)	23,101	(22,969)	(31,040)	129,124
Investment (income) loss	(8,828)	(12,042)	(11,503)	(38,713)	(43,820)
Interest expense	53,642	49,938	55,350	210,864	185,285
Other, net	37,021	7,878	41,608	106,816	(726)
Adjusted operating income (loss) (1)	64,197	68,875	62,486	247,927	269,863
Depreciation and amortization	156,348	161,228	159,234	633,408	645,294
Adjusted EBITDA (2)	$ 220,545	$ 230,103	$ 221,720	$ 881,335	$ 915,157


(1) Adjusted operating income (loss) represents net income (loss) before income tax expense (benefit), investment income (loss), interest expense, and other, net. Adjusted operating income (loss) is a non-GAAP financial measure and should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. In addition, adjusted operating income (loss) excludes certain cash expenses that the Company is obligated to make. However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria, including adjusted EBITDA and adjusted operating income (loss), because it believes that these financial measures accurately reflect the Company’s ongoing profitability and performance. Securities analysts and investors use this measure as one of the metrics on which they analyze the Company’s performance. Other companies in this industry may compute these measures differently.

(2) Adjusted EBITDA represents net income (loss) before income tax expense (benefit), investment income (loss), interest expense, other, net and depreciation and amortization. Adjusted EBITDA is a non-GAAP financial measure and should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. In addition, adjusted EBITDA excludes certain cash expenses that the Company is obligated to make. However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria, including adjusted EBITDA and adjusted operating income (loss), because it believes that these financial measures accurately reflect the Company’s ongoing profitability and performance. Securities analysts and investors use this measure as one of the metrics on which they analyze the Company’s performance. Other companies in this industry may compute these measures differently.

NABORS INDUSTRIES LTD. AND SUBSIDIARIES
RECONCILIATION OF NET DEBT TO TOTAL DEBT
(Unaudited)

	December 31,	September 30,	December 31,
(In thousands)	2024	2024	2023

Current debt	$ –	$ –	$ 629,621
Long-term debt	2,505,217	2,503,270	2,511,519
Total Debt	2,505,217	2,503,270	3,141,140
Less: Cash and short-term investments	397,299	459,302	1,070,178
Net Debt	$ 2,107,918	$ 2,043,968	$ 2,070,962

NABORS INDUSTRIES LTD. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED FREE CASH FLOW TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
(Unaudited)

	Three Months Ended		Year Ended
	December 31,	September 30,	December 31,
(In thousands)	2024	2024	2024

Net cash provided by operating activities	$ 148,919	$ 143,615	$ 581,432
Add: Capital expenditures, net of proceeds from sales of assets	(202,215)	(126,071)	(552,421)

Adjusted free cash flow	$ (53,296)	$ 17,544	$ 29,011

Adjusted free cash flow represents net cash provided by operating activities less cash used for capital expenditures, net of proceeds from sales of assets. Management believes that adjusted free cash flow is an important liquidity measure for the company and that it is useful to investors and management as a measure of the company’s ability to generate cash flow, after reinvesting in the company for future growth, that could be available for paying down debt or other financing cash flows, such as dividends to shareholders. Adjusted free cash flow does not represent the residual cash flow available for discretionary expenditures. Adjusted free cash flow is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior to, cash flow from operations reported in accordance with GAAP.

View original content:https://www.prnewswire.com/news-releases/nabors-announces-fourth-quarter-2024-results-302375389.html

SOURCE Nabors Industries Ltd.

February 12, 2025 6:12 pm

Capri Holdings Limited to Host Investor Day on February 19, 2025

Capri Holdings Limited to Host Investor Day on February 19, 2025

LONDON–(BUSINESS WIRE)–
Capri Holdings Limited (NYSE: CPRI) today announced that it will host an Investor Day on Wednesday, February 19, 2025 in New York City. The event will feature presentations and a question and answer session with Capri’s executive management team including John Idol, Chairman and Chief Executive Officer and Tom Edwards, Chief Financial and Chief Operating Officer, as well as leaders from Versace, Jimmy Choo and Michael Kors.

The event will begin at 1:00 p.m. ET and is expected to conclude by 3:30 p.m. ET. Due to limited capacity, in-person attendance is by invitation only and advance registration is required. A live video broadcast of the event can be accessed on the Company’s Investor Relations website, www.capriholdings.com. A replay will be available shortly after the conclusion of the live event.

About Capri Holdings Limited

Capri Holdings is a global fashion luxury group consisting of iconic, founder-led brands Versace, Jimmy Choo and Michael Kors. Our commitment to glamorous style and craftsmanship is at the heart of each of our luxury brands. We have built our reputation on designing exceptional, innovative products that cover the full spectrum of fashion luxury categories. Our strength lies in the unique DNA and heritage of each of our brands, the diversity and passion of our people and our dedication to the clients and communities we serve. Capri Holdings is publicly listed on the New York Stock Exchange under the ticker CPRI.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250212581173/en/

FOR MORE INFORMATION:

Investor Relations:

Jennifer Davis

+1 201 514 8234

[email protected]

Media:

[email protected]

KEYWORDS: Europe United States United Kingdom North America New York

INDUSTRY KEYWORDS: Fashion Retail Luxury Department Stores Catalog Specialty

MEDIA:

February 12, 2025 6:04 pm

Kimpton Seafire Resort + Spa Named Five-Star Hotel In Forbes Travel Guide’s Star Awards For Third Year In A Row

PR Newswire

The Resort’s SPA at Seafire Also Earned Its Second Five-Star Rating

GRAND CAYMAN, Cayman Islands, Feb. 12, 2025 /PRNewswire/ — Forbes Travel Guide (“FTG”), the only global rating system for luxury hotels, restaurants, spas and ocean cruises, today announced its 2025 Star Awards. For a third year in a row, Kimpton Seafire Resort + Spa earned the Forbes Travel Guide Five-Star award and is showcased with other honorees on ForbesTravelGuide.com. Additionally, the SPA at Seafire earned the prestigious Forbes Five-Star rating this year, making Seafire a 10-Star property for the second year in a row.

“Forbes’ Star Awards are one of the highest honors in the hospitality world, so we are thrilled to be recognized once again in 2025,” says Paloma Martinez, Kimpton Seafire Resort + Spa’s General Manager. “At Seafire, we are passionate about exceeding guest expectations and creating a truly extraordinary place, from our food and beverage offerings to our wellness options. Congratulations to the Seafire team for going above and beyond yet again.”

Kimpton Seafire’s 10-Star status is the result of intuitive, personal service combined with a creative flair in activities and amenities for its guests, ensuring unforgettable moments in a spectacular setting.

This year, Seafire introduced The Studio, an interactive art space sharing the captivating work of acclaimed artists Janine Every and Josie Frazer. Located on the spa level of the resort, The Studio offers a dynamic blend of gallery and artistic inspiration, offering a unique and interactive cultural experience for visitors and locals alike.
The literature-inspired Library By The Sea continues to impress, reimagining the hotel lobby bar concept via bespoke design elements, creative cocktails and sustainably minded mixology. Recently named the 35th best bar in North America by North America’s 50 Best Bars and a recipient of the London Essence Best New Opening Award, Library by the Sea is a world-class cocktail destination.
Seafire’s 4^th Annual Seafire Wellness Festival in the fall of 2024 was an enormous success, offering a diverse array of activities for guests, from invigorating yoga and soothing meditation to energizing beach workouts and insightful workshops.

Forbes Travel Guide, the world-renowned authority on excellence in hospitality, has once again recognized Kimpton Seafire Resort + Spa with a prestigious five-star rating, maintaining its luxury status as one of the top resorts in the world.

“Forbes Travel Guide’s Star Award winners exemplify excellence in hospitality,” says Amanda Frasier, President of Standards & Ratings for Forbes Travel Guide. “This year’s list continues to reflect the changing landscape of luxury with properties setting the standard for authentic experiences while offering unparalleled amenities, enhanced well-being and delivering unforgettable moments. We are thrilled to recognize their dedication to creating truly world-class travel options for today’s discerning guest.”

For more information and booking, visit www.seafireresortandspa.com.
To view the new Star Award winners, visit ForbesTravelGuide.com.
To learn how Forbes Travel Guide compiles its Star Ratings, click here.

ABOUT SEAFIRE RESORT + SPA, SEVEN MILE BEACH, GRAND CAYMAN

Debuted in November 2016, Kimpton Seafire Resort + Spa is Grand Cayman’s first new resort development in more than a decade. Located on the world-famous Seven Mile Beach, the resort melds locally inspired touches, luxurious Caymanian flavor, and warm Kimpton spirit. Developed by Dart Real Estate, the Cayman Islands’ premier real estate developer, the 264-room resort offers unmatched, unobstructed water views from nearly every guest room. The property includes a presidential suite and three private bungalows, highlighting the spectacular sun-kissed horizon that inspired the resort’s name. Guests can indulge in a state-of-the-art spa, meander through native botanical gardens, or cool down at one of two ocean-view pools. Kimpton Seafire Resort’s three signature restaurants include a beachside bar and grill, a lively main restaurant with unparalleled panoramic views, and a signature restaurant serving Spanish Tapas with an exclusive Chef’s Table.

ABOUT IHG

IHG Hotels & Resorts [LON:IHG, NYSE:IHG (ADRs)] is a global hospitality company, with a purpose to provide True Hospitality for Good.

With a family of 19 hotel brands and IHG One Rewards, one of the world’s largest hotel loyalty programmes, IHG has over 6,300 open hotels in more than 100 countries, and a development pipeline of over 2,000 properties.

Luxury & Lifestyle: Six Senses Hotels Resorts Spas, Regent Hotels & Resorts, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo
Premium: voco hotels, HUALUXE Hotels & Resorts, Crowne Plaza Hotels & Resorts, EVEN Hotels
Essentials: Holiday Inn Hotels & Resorts, Holiday Inn Express, Garner hotels, avid hotels
Suites: Atwell Suites, Staybridge Suites, Holiday Inn Club Vacations, Candlewood Suites
Exclusive Partners: Iberostar Beachfront Resorts

InterContinental Hotels Group PLC is the Group’s holding company and is incorporated and registered in England and Wales. Approximately 375,000 people work across IHG’s hotels and corporate offices globally.

Visit us online for more about our hotels and reservations and IHG One Rewards. To download the IHG One Rewards app, visit the Apple App or Google Play stores.

For our latest news, visit our Newsroom and follow us on LinkedIn.

ABOUT FORBES TRAVEL GUIDE

Forbes Travel Guide is the only global rating system for luxury hotels, restaurants and spas. Our anonymous professional inspectors evaluate based on hundreds of exacting standards, with an emphasis on exceptional service, to help discerning travelers select the world’s best experiences. The only way to get a Five-Star, Four-Star or Recommended rating is by earning it through our independent inspection process. For more information about Forbes Travel Guide, please visit ForbesTravelGuide.com.

Connect with Forbes Travel Guide:
Instagram: www.instagram.com/ForbesTravelGuide
X: www.twitter.com/ForbesInspector
Facebook: www.facebook.com/ForbesTravelGuide

MEDIA CONTACTS:
TURNER
[email protected]

View original content:https://www.prnewswire.com/news-releases/kimpton-seafire-resort–spa-named-five-star-hotel-in-forbes-travel-guides-star-awards-for-third-year-in-a-row-302375379.html

SOURCE Kimpton Seafire Resort + Spa

February 12, 2025 6:03 pm

$TOCKHOLDER ALERT: The M&A Class Action Firm Continues To Investigate The Merger – ENFN, VCSA, ACCD, AVAV

NEW YORK, Feb. 12, 2025 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:

Enfusion, Inc. (NYSE:

ENFN

), relating to the proposed merger with Clearwater Analytics. Under the terms of the agreement, Enfusion shareholders will receive $5.85 per share in cash and $5.40 per share in Clearwater Class A Common Stock.

Click here for more

https://monteverdelaw.com/case/enfusion-inc-enfn/
. It is free and there is no cost or obligation to you.

Vacasa, Inc. (NASDAQ:

VCSA

), relating to the proposed merger with Casago. Under the terms of the agreement, Casago will acquire all outstanding shares of Vacasa held by public stockholders at a price of $5.02 per share.

Click here for more

https://monteverdelaw.com/case/vacasa-inc-vcsa/
. It is free and there is no cost or obligation to you.

Accolade, Inc. (Nasdaq:

ACCD

), relating to the proposed merger with Transcarent. Under the terms of the agreement, Transcarent will acquire Accolade for $7.03 per share in cash.

Click here for more

https://monteverdelaw.com/case/accolade-inc-accd/
. It is free and there is no cost or obligation to you.

AeroVironment, Inc. (NASDAQ:

AVAV

), relating to the proposed merger with BlueHalo LLC. Under the terms of the agreement, AeroVironment shareholders will own approximately 60.5% of the combined company.

ACT NOW. The Shareholder Vote is scheduled for April 1, 2025.

Click here for more information

https://monteverdelaw.com/case/aerovironment-inc-avav/
. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

Do you file class actions and go to Court?
When was the last time you recovered money for shareholders?
What cases did you recover money in and how much?

About Monteverde & Associates PC

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
[email protected]
Tel: (212) 971-1341

February 12, 2025 6:03 pm

Parker Scheduled to Present at Barclays Industrial Select Conference on February 19 at 11:00 a.m. Eastern Time

CLEVELAND, Feb. 12, 2025 (GLOBE NEWSWIRE) — Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that it is scheduled to present at the Barclays Industrial Select Conference in Miami Beach, Florida on February 19, 2025 at 11:00 a.m. Eastern time. A live webcast of the presentation will be accessible on Parker’s investor information website at investors.parker.com and will be archived on the site.

Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 68 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. Learn more at www.parker.com or @parkerhannifin.

###

Contact:
Media - 
Aidan Gormley - Director, Global Communications and Branding
216-896-3258
[email protected]

Financial Analysts -
Jeff Miller - Vice President, Investor Relations
216-896-2708
[email protected]