Eletrobrás (NYSE:EBR) Q3 2025 Earnings Call November 06, 2025 09:00 AM ET Speaker0Good morning, ladies and gentlemen. Welcome to AXIA Energia's third quarter 2025 earnings call. Joining us today are the following members of our executive team: Mr. Ivan de Souza Monteiro, CEO of AXIA Energia, Mr. Eduardo Haiama, Executive VP of Finance and Investor Relations, Mr. Antônio Varejón de Godoy, Executive VP of Operations and Security, Ms. Camila Araújo, VP of Governance, Risks, Compliance, and Sustainability, Mr. ...

PENN Entertainment (NasdaqGS:PENN) Q3 2025 Earnings Call November 06, 2025 09:00 AM ET Speaker2Greetings and welcome to the Penn Entertainment third quarter 2025 earnings call. I would now like to turn the conference over to Joe Giaffoni, Investor Relations. Please go ahead.Speaker4Thank you, Rachel. Good morning and thank you for joining Penn Entertainment's 2025 third quarter conference call. We'll get to management's presentation and comments momentarily, as well as your questions and answers. During the ...

Ralph Lauren (NYSE:RL) Q2 2026 Earnings Call November 06, 2025 09:00 AM ET Speaker1Ladies and gentlemen, thank you for standing by. Welcome to the Ralph Lauren second quarter fiscal year 2026 earnings call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Instructions on how to ask a question will be given at that time. If you should require assistance during the call, please press star then zero. As a reminder, this conference is being recorded ...

Phibro Animal Health (NasdaqGM:PAHC) Q1 2026 Earnings Call November 06, 2025 09:00 AM ET Speaker1Thank you for standing by. Welcome to the Phibro Animal Health Corporation First Quarter 2026 webcast and conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question, please press star one on your telephone keypad. I would now like to turn the conference over to Glenn David, Chie ...

NextNav (NasdaqCM:NN) Q3 2025 Earnings Call November 06, 2025 09:00 AM ET Speaker1Ladies and gentlemen, thank you for standing by, and welcome to the NextNav Q3 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during that time, press star followed by the number one on your telephone keypad. As a reminder, today's call is being recorded. I will now tu ...

KVH Industries (NasdaqGS:KVHI) Q3 2025 Earnings Call November 06, 2025 09:00 AM ET Speaker2Good day, and thank you for standing by. Welcome to the Q3 2025 KVH Industries earnings conference call. At this time, all participants are in the listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press Star 1 1 on your telephone. You will then hear an automated message advising you your hand is raised. To withdraw yo ...

Liberty Latin America Ltd (NasdaqGS:LILA) Q3 2025 Earnings Call November 06, 2025 09:00 AM ET Speaker0Good morning and welcome to Liberty Latin America's third quarter 2025 investor call. At this time, all participants are in listen-only mode. Today's formal presentation materials can be found under the Investor Relations section of Liberty Latin America's website at www.LLA.com. Following today's formal presentation, instruction will be given for a question-and-answer session. As a reminder, this call is b ...

Bloomin' Brands (NasdaqGS:BLMN) Q3 2025 Earnings Call November 06, 2025 09:00 AM ET Speaker1Greetings and welcome to the Bloomin' Brands Fiscal Third Quarter 2025 Earnings Conference Call. At this time, all participants are in listen-only mode. A brief question-and-answer session will follow management's prepared remarks. It is now my pleasure to introduce your host, Tara Kurian, Senior Vice President, IR, FP&A, and International. Thank you, Ms. Kurian. You may begin.Speaker5Thank you and good morning, ever ...

STERIS (NYSE:STE) Q2 2026 Earnings Call November 06, 2025 09:00 AM ET Speaker0Hello and thank you for standing by. My name is Bella, and I will be your conference operator today. At this time, I would like to welcome everyone to STERIS 2Q Fiscal 2026 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press Star, then the number one ...

财务数据和关键指标变化 - 第四季度调整后每股收益为1.22美元，同比增长58% [4] - 2025财年全年调整后每股收益同比增长38% [4] - 第四季度产量同比增长21% [13] - 套期保值后实现价格上涨9% [13] - 整合上游和集气业务调整后每股收益同比增长70% [13] - 2026财年调整后每股收益指引范围为7.60-8.10美元，中点同比增长14% [14][19] - 2026财年预计产生自由现金流3亿至3.5亿美元，超过去年水平 [17] - 资本支出预计同比增长约10% [17] 各条业务线数据和关键指标变化 - 整合上游和集气业务：自2023年中EDA转型以来，产量增长约20%，总资本支出减少15% [4] - 该业务2025财年资本支出为6.05亿美元，较上年减少约3500万美元 [23] - 自2023年以来资本效率提升30% [23] - 2026财年该业务资本支出指引为5.5亿至6.1亿美元，中点同比下降3% [26] - 预计长期资本支出将进一步降至每年5亿至5.75亿美元 [26] - 管道业务：Shipping Port侧线项目投资5700万美元，将创造每日2.05亿立方英尺的新输送能力，产生年收入1500万美元 [7][8] - Tioga Pathway项目和Shipping Port侧线项目预计从2027财年初开始每年产生约3000万美元收入 [17][18] 各个市场数据和关键指标变化 - 上游业务：2025财年净产量达到创纪录的4.27 BCFE，同比增长9%，超过指引上限 [23] - 储备基础增至近5 TCFE [23] - 2026财年产量指引为440至455 BCFE，中点同比增长5% [25] - 预计2026年将运行1至2个钻井程序和一支专用压裂队 [25] - 约85%的2026财年预计产量已被实物固定销售和/或固定运输覆盖 [27] 公司战略和发展方向和行业竞争 - 战略重点包括提高资本效率、扩大核心库存和确保运输能力 [4][5][6] - 在Tioga县上尤蒂卡层增加了约220个远景井位，使EDA库存几乎翻倍 [5] - 2025年9月签署了一项第三方管道 precedent agreement，从2028年底开始增加每日2.5亿立方英尺的外输能力 [6][27] - 管道业务利用其在阿巴拉契亚产区的独特组合，为数据中心提供快速上市通道 [9] - 收购CenterPoint的俄亥俄州燃气LDC，将使公用事业费率基础翻倍，并增加在支持天然气的州的客户 [10] - 财务报告结构变更，将勘探生产和集气业务合并为整合上游和集气业务 [14] 管理层对经营环境和未来前景的评论 - 对纽约州能源政策持乐观态度，认为政策制定者正开始承认天然气作为可靠、可负担能源的重要性 [11] - 预计2026年天然气市场环境向好，供需平衡趋紧，主要产区产量增长放缓，而液化天然气出口和发电需求加速 [26] - 天气仍是不可预测且影响巨大的变量，导致远期天然气曲线持续波动 [26] - 公司通过营销和对冲策略管理价格波动，提供价格稳定性同时保持上行风险敞口 [26] - 长期前景依然强劲，公司继续锁定额外的对冲以保护收益和现金流 [16] 其他重要信息 - 上游业务：四个上尤蒂卡生产井表现出与第三代下尤蒂卡井同等的生产率 [24] - 未来Tioga尤蒂卡开发的净可采天然气估计超过10 TCF [24] - 目前拥有近20年的核心EDA开发库存，盈亏平衡点低于2.00美元/MMBTU [5][24] - 计划在2026财年进行关键井设计测试，包括更高强度的压裂、更宽的井间距、扩大规模的天然气处理装置以及上下尤蒂卡带的共同开发 [25] - 管道业务：计划在2026财年下半年为Supply Corporation提交FERC费率案例 [18] - 可能在2026财年为宾夕法尼亚州公用事业部门提交费率案例 [19] - 可持续发展：NFG Midstream将其ECHO origin评级从A-提升至A，Seneca维持其A级ECHO origin评级和A级MIQ认证 [30] - 收购CenterPoint俄亥俄州公用事业的融资取得进展，成功联合组织了过桥融资 [20] 问答环节所有提问和回答 问题: 关于增量核心库存和上尤蒂卡的经济性，能否提供更多细节说明公司研究上尤蒂卡带已有多久，以及什么过程让公司对这220个井位具有信心 [34] - 公司团队在整合Shell收购初期就看到了这个机会，并已研究了多年，过去三年开始进行划定和更好理解 [34] - 通过在与下尤蒂卡开发平台一起钻探上尤蒂卡测试井的机会，能够高效且有效地进行测试，并在平台其他生产上线的同时让这些井投产 [34] - 拥有大量生产历史，结果非常出色，并且未来将在目前开发下尤蒂卡的同一地点共同开发上尤蒂卡，通过重新利用中游基础设施来捕获额外利润和提高效率 [34][35] 问题: 除了Shipping Port项目，是否继续看到其他潜在项目合作伙伴对盆地内机会的兴趣，NFG的完全整合运营在这些讨论中相对于只有上游供应的生产商有何益处 [36] - 公司已经从其他数据中心开发商和寻求电力项目的实体那里获得了很好的兴趣，对此感到兴奋，势头继续增强 [37] - 整合运营提供了巨大优势，因为可以提供从基本的管道服务到天然气供应乃至任何组合的一系列替代方案，对未来持乐观态度，认为将会有多个机会 [37] 问题: 上尤蒂卡何时将成为NFG计划的更大部分 [40] - 公司已经将一些上尤蒂卡纳入计划，预计将继续像处理下尤蒂卡开发一样，优化运营计划，将资本分配给Seneca和集气业务综合回报最高的部分 [40] - 将通过同样的棱镜来看待上尤蒂卡，关注优化土地使用、中游基础设施和开发计划的上下组合 [40] - 2026年将钻探一定数量的上尤蒂卡井，但相对于下尤蒂卡比例较小，随着时间推移，预计团队将继续优化找到合适的组合，近期预计下尤蒂卡更多，但长期可能变得更加平衡 [41] 问题: 关于CenterPoint交易带来的债务，如何考虑在业务其余部分分配剩余债务 [42] - 所有融资都在母公司进行，评级机构关注控股公司总债务与整个系统现金流的关系 [42] - 公司审视系统内现金流产生地，并发行公司间本票，最终所有债务在各板块间是可替代的，这是一个平衡行为，考虑各板块的现金流、资本结构、费率制定等多种因素，重点应放在母公司债务和整个能源系统的总现金流上 [42] 问题: Supply Corporation申请费率案例，目前在该业务上获得的回报率是多少 [45] - 通常费率制定的回报率在低双位数范围，高于公用事业费率制定的ROE，考虑到资本结构高于50/50，相信可以获得更高的回报，但所有都是黑箱和解，通常会失去个别组成部分的识别性 [45][46] 问题: 考虑到更新后的数字，对于CenterPoint俄亥俄州收购的股权融资是否仍考虑3亿至4亿美元，对时机或方式是否有更多考虑 [47] - 考虑到业务前景，商品价格是更大的近期驱动因素，规模预计与几周前宣布交易时相似 [47] - 收购需要备考财务报表，这需要一些时间准备，仍预计在第一季度晚些时候，即春季时间框架内进入资本市场 [47] - 关于创造性融资方式，目前没有太多非核心资产可考虑出售，考虑到交易中的股权金额可能较小，不太可能改变整个融资方法，但随着时间推移如果出现其他机会，将以股东获得最佳答案的方式融资 [48]