HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of October 2022. Unitholders of record on October 31, 2022 will receive distributions amounting to $0.181767542 per unit, payable on January 31, 2023. The Trust received $330,459 which came from the New Mexico portion of the Trust’s San Juan Basin properties operated by Hilcorp San Juan LP, an affiliate of Hilcorp Energy Company and $46,005 which came from the Hugoton Royalty properties operated by Scout Energy Group V, LP. No income was received in October 2022 from the Colorado portion of the Trust’s San Juan Basin properties operated by SIMCOE LLC, an affiliate of IKAV Energy Inc. or from the Colorado portion of the Trust’s San Juan Basin properties operated by Red Willow Production Company. This month, after the Trust’s withholding for cash reserves and the payment of administrative expenses, income from the distributable net profits was $338,740.
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. In addition, as further described in the Trust’s most recent filing on Form 10-Q, distributions to unitholders are expected to be materially reduced during 2022, as the Trust intends to increase cash reserves to a total of $2.0 million to provide added liquidity.
Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, prices received by working interest owners and other risks described in the Trust’s Form 10-K for the year ended December 31, 2021. Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.
Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
Shipments Decline 11% YoY
BOSTON--(BUSINESS WIRE)--The global smartphone Image sensor market clocked a total revenue of $6.4 billion, according to the Strategy Analytics Handset Component Technologies service report, “Smartphone Image Sensor Market Share Q2 2022: Demand Continues to Weaken.”
This Strategy Analytics research finds that the market for smartphone image sensors experienced a decline of more than 5 percent year-over-year in H1 2022. Sony Semiconductor Solutions captured the top spot with 44 percent revenue share followed by Samsung System LSI and OMNIVISION in the period. Sony, Samsung and OMNIVISION captured nearly 83 percent revenue share in the global smartphone image sensor market. In terms of smartphone multi-camera applications, Image sensors for Depth and Macro applications dropped to 26 percent share while those for Ultrawide application jumped to 20 percent share.
Jeffrey Mathews, Senior Analyst at Strategy Analytics says, “The market for smartphone image sensors witnessed a slowdown in multicamera adoption owing to declining smartphone demand and inventory within the customer supply chain during the period. Sony drove its share in the market with partnerships with leading smartphone OEMs for large-sized and high-resolution image sensor products. Moreover, Samsung continued to lead high-resolution demand by supplying 200MP CIS products to customers and Omnivision saw share loss due to pandemic-induced customer disruptions in China.”
Stephen Entwistle, Vice President of the Strategic Technologies Practice at Strategy Analytics added, “As demand momentum continues to struggle, OEMs are expected to drive opportunities in positioning smartphones with high-end and premium imaging capabilities. The introduction of flagship smartphones featuring high-resolution cameras provides a short-term improvement for the smartphone image sensor market.”
About Strategy Analytics
Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Our multi-discipline capabilities include industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com.
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Service Name: Handset Component Technologies
Report contacts:
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STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (NYSE: AMPS) (“Altus Power” or the “Company”), the premier independent developer, owner and operator of commercial-scale solar facilities, today announced the results of the completed redemption of all of its outstanding public warrants (the "Public Warrants") and private warrants (the “Private Warrants” and together with the Public Warrants, the “Warrants”) to purchase shares of the Company's Class A common stock, par value $0.0001 per share (the “Class A Common Stock"), that were issued under the Warrant Agreement, dated December 10, 2020, by and between the Company (f/k/a CBRE Acquisition Holdings, Inc.) and Continental Stock Transfer & Trust Company as warrant agent. The Public Warrants were issued as part of the units sold in the Company's initial public offering (the "Offering”). The Private Warrants were issued in private placement that was conducted simultaneously with the Offering.
On September 15, 2022, the Company issued a press release stating that it would redeem all of the Warrants that remained outstanding after 5:00 p.m. New York City time on October 17 2022, (the “Redemption Date”) for a redemption price of $0.10 per Warrant.
In connection with our notice of redemption, which was delivered to all holders of the Warrants on September 15, 2022, holders of 8,462 public and private placement warrants exercised their Warrants with the payment of cash and the Company received $93,082 of cash proceeds. Holders of 5,323,643 public warrants and 9,366,667 private placement warrants exercised their Warrants on a cashless basis in exchange for 4,058,845 shares of Class A Common Stock per Warrant. A total of 100,209 Warrants remained unexercised as of the Redemption Date, and the Company redeemed those Warrants for an aggregate redemption price of $10,021.
In connection with the redemption, the Public Warrants stopped trading on the New York Stock Exchange on October 14,2022 and were delisted. The redemption had no effect on the trading of the Company's Class A Common Stock, which continues to trade on the New York Stock Exchange under the symbol "AMPS."
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any offer of any of Altus Power’s securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Altus Power, Inc.
Altus Power, based in Stamford, Connecticut, is the premier commercial-scale clean electrification company, serving commercial, industrial, public sector and community solar customers with an end-to-end solution. Altus Power originates, develops, owns and operates locally sited solar generation, energy storage, and EV charging infrastructure across the nation, from Vermont to Hawaii. Visit www.altuspower.com to learn more.
Altus Power:
For Media:
Cory Ziskind
ICR, Inc.
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For Investors:
Chris Shelton, Head of IR
Caldwell Bailey, ICR, Inc.
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+ Framework agreement between NMG, Panasonic Energy and Mitsui for the development and further commercialization of NMG’s integrated anode material operations in Québec, Canada
+ Signed memorandum of understanding to confirm intentions for a multi-year offtake agreement between NMG and Panasonic Energy for a significant portion of NMG’s active anode material out of NMG’s fully integrated “ore-to-anode-material” facilities
+ A total investment of US$50 million from Mitsui, Pallinghurst and Investissement Québec will support the next operational milestones for the project financing activities on both the Matawinie Mine and the Bécancour Battery Material Plant
+ Shareholders and analysts are invited to attend an Investor Briefing on Thursday, October 20 at 10:30 a.m. ET hosted by NMG’s Management Team via webcast: https://us06web.zoom.us/webinar/register/WN_LxVC2YirS8izfF7UIneVzg
MONTRÉAL--(BUSINESS WIRE)--$NMG #ESG--Nouveau Monde Graphite Inc. (“NMG” or the “Company”) (NYSE: NMG, TSX.V: NOU), Mitsui & Co., LTD (“Mitsui”) (TYO: 8031) and Panasonic Energy Co., Ltd. (“Panasonic Energy”), a wholly owned subsidiary of Panasonic Holdings Corporation (“Panasonic”) (TYO: 6752), have entered into a Framework Agreement establishing the terms of the commercial relationship between the parties to enable the next development steps of NMG’s ore-to-battery-market integrated graphite project in Québec, Canada. NMG will use the proceeds of the abovementioned investment to work in the upcoming months on optimizing the feasibility study on NMG’s Phase-2 Commercial integrated operations, which is available on SEDAR and EDGAR, based on the memorandum of understanding for the contemplated offtake agreement.
Kazuo Tadanobu, President & CEO of Panasonic Energy, commented: “We are very pleased to be participating in this strategic partnership with NMG, which will allow us to explore the possibility of establishing an environmentally friendly supply chain in North America through a completely new integrated anode production in Canada. As a manufacturer of EV lithium-ion batteries with the largest share of the North American market, given our leading technology and depth of experience, we aim to continue driving the growth of the industry and accelerating toward a decarbonized society.”
Hiroshi Kakiuchi, Managing Officer of Mitsui, added: “We are very excited to be working with NMG and participating in their mission to establish a stable lithium-ion battery supply chain for electric vehicles in North America and contribute to the realization of a low-carbon society. In particular, we are inspired by Eric Desaulniers’ vision to take on the unprecedented challenge of establishing the whole process of anode material production, from mining to manufacturing, which is to be completed in North America in an environmentally friendly way.”
Arne H Frandsen, Chair of NMG, said: “NMG is committed to delivering the highest quality anode material, exclusively mined and produced in North America. The partnership with Panasonic Energy and Mitsui – two blue-chip leaders of the industry – should further secure our leading position in the battery materials space. More than ever, we will continue to vigorously increase our relevance in the North American market, benefitting from U.S. and Canadian legislation supporting locally produced batteries.”
Eric Desaulniers, Founder, President, and CEO of NMG, reacted: “I am delighted to embark on this transformative partnership with experienced and industry-leading partners Mitsui and Panasonic Energy. It is set to provide NMG with a solid commercial foundation for deploying our Phase-2 Commercial operations. Their participation is a testament to our sound business model and a lever at this pivotal time to advance our business plan towards establishing what is projected to become North America’s largest fully integrated natural graphite production.”
Andrew Willis, Co-Chief Executive of The Pallinghurst Group, remarked: “We are proud at Pallinghurst to have worked with NMG in reaching this critical milestone. The Company’s commercial model and strong ESG credentials are extremely attractive; we are reiterating our confidence by reinvesting in NMG’s growth. We are excited for the next chapter as NMG positions itself as a preferred integrated graphite supplier for the Western battery and EV market.”
Guy Leblanc, CEO of Investissement Québec, noted: “This investment reflects our commitment to establishing Québec as a leading North American hub for lithium-ion batteries. Nouveau Monde Graphite is clearly a key player in this sector and will contribute enormously to the province's energy transition. Investissement Québec is proud to have supported them in their growth from the outset and in this new phase of their development.”
Memorandum of Understanding on Offtake Agreement
The strategic transaction comprises a non-binding memorandum of understanding on an offtake by Panasonic Energy of a significant portion of NMG’s green active anode material out of the Company’s integrated Phase-2 Commercial production facilities over a multi-year term. While there can be no assurance that a final offtake agreement with Panasonic Energy will be completed, NMG and Panasonic Energy will work together in the upcoming months to establish a definitive offtake agreement.
Convertible Notes
NMG is also pleased to announce that it has entered into unsecured convertible note subscription agreements with each of Mitsui, Pallinghurst and Investissement Québec pursuant to which NMG has agreed to issue to each holder an unsecured convertible note (the “Convertible Notes”), for aggregate gross proceeds of US$50 million (the “Private Placement”). In connection with the Private Placement, Mitsui will subscribe for US$25 million in Convertible Notes, while Pallinghurst and Investissement Québec will each subscribe for US$12.5 million.
The Convertible Notes will mature 36 months from the date of issuance (the “Maturity Date”) and shall bear interest at the higher of 6% per annum and the 90-day average term SOFR (secured overnight financing rate) plus 4% per annum. Interest will be payable either quarterly in cash on the last business day of each quarter commencing on December 31, 2022, or NMG may elect to capitalize interest and settle in fully paid common shares of NMG (“Common Shares”), subject to TSX Venture Exchange (the “Exchange”) approvals. Should NMG elect to settle interest in Common Shares, settlement will be at market price (as defined in the Exchange policies) determined at the quarter end on which such interest became payable.
All or a portion of the principal amount of the Convertible Notes will be convertible at the election of the holder thereof into units of NMG (a “Convertible Note Unit”) at a price of US$5.00 per Convertible Note Unit at any time until the Maturity Date. Each Convertible Note Unit will be comprised of one (1) Common Share and one (1) common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of US$5.70 per Common Share for a period of 24 months from the date of issuance thereof.
The Convertible Notes (and the Common Shares and Warrants issuable upon conversion of the Convertible Notes, if issued before that period) are subject to a hold period of 4 months and one day in accordance with relevant regulatory and stock exchange policies.
Closing of the Convertible Notes transaction is expected to occur on or about November 9, 2022, and is subject to certain customary closing conditions, including obtaining final regulatory approvals.
Letter Agreements and Investment Agreements
Pursuant to Letter Agreements and/or Investment Agreements, Pallinghurst, Mitsui and Investissement Québec will be granted certain rights relating to each party’s investment in NMG. These include certain nomination and anti-dilution rights, and, for Pallinghurst and Mitsui, certain marketing rights for future sales of NMG’s active anode material.
Framework Agreement
As part of the transaction, a Framework Agreement was signed by NMG, Mitsui and Panasonic Energy that defines the role and responsibilities of the parties in the coming months, including optimization of the feasibility study and other important project-related operational milestones. NMG plans to use the proceeds from the investment to support the finalization of the design, operation, marketing, and corporate parameters of the Phase-2 Matawinie Mine and Bécancour Battery Material Plant. The intention is to proceed with project financing and the final investment decision (“FID”) on both the Matawinie Mine and Bécancour Battery Material Plant once that optimization phase is completed and all operational variables are well understood. Based on information available today, NMG anticipates a 28-month construction period following FID to bring its operations to commercial production. The Framework Agreement and the Side Letter Agreements/Investment Agreements shall become effective at closing.
Related Party Disclosure
Investissement Québec and Pallinghurst are insiders of the Company and their participation in the Private Placement and the Investment Agreements and the Letter Agreement constitutes a “related party transaction” within the meaning of Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (the “Regulation 61-101”) and the TSX Venture Exchange Policy 5.9 - Protection of Minority Security Holders in Special Transactions. However, upon receiving confirmation from management of the Corporation and legal counsel that the exemptions from formal valuation and minority approval requirements provided for respectively under subsections 5.5(a) and 5.7(1)(a) of Regulation 61‑101 can be relied on as neither the fair market value of the securities issued in favour of related parties nor the fair market value of the consideration paid for these securities exceed 25% of the Company's market capitalization, the directors of the Company who had the right to vote have unanimously supported the issuance of the Convertible Notes and the signature of the Investment Agreements and the Letter Agreement.
A material change report in respect of those related party transactions will be filed by the Company but could not be filed earlier than 21 days prior to the closing of the Private Placement due to the fact that the Private Placement was conditional to the signatures of all the abovementioned agreements and that this abbreviated period is reasonable and necessary in the circumstances as the Company wishes to complete these transactions in a timely manner.
NMG’s Active Anode Material
The offtake and strategic partnership covers NMG’s fully integrated operations with a special interest in the Company’s anode active material which has demonstrated industry-leading environmental footprint in a recent life cycle assessment. NMG’s planned all-electric operations powered by renewable energy combined with clean processing technologies are set to generate advanced materials with an exceptionally low climate change impact, in line with global decarbonization efforts.
Complementary Information
NMG shareholders and analysts are invited to attend a webcast Investor Briefing on Thursday, October 20, 2022, at 10:30 a.m. ET. Hosted by President and CEO Eric Desaulniers with the participation of NMG’s Management Team, the briefing will entail a technical presentation followed by a question-and-answer session. Registration should be completed prior to the start of the briefing at: https://us06web.zoom.us/webinar/register/WN_LxVC2YirS8izfF7UIneVzg.
An interview with Eric Desaulniers shot at NMG’s Phase-1 plant is also available for viewing here: https://youtu.be/5SVPI4mQLMA. Members of the media may download high-resolution files at https://we.tl/t-TNJhUOdR6D and make additional interview or information requests via Julie Paquet, Vice President, Communications & ESG Strategy at NMG.
About Panasonic Energy
Panasonic Energy established in April 2022 as part of the Panasonic Group's switch to an operating company system, provides innovative battery technology-based products and solutions globally. Through its automotive lithium-ion batteries, storage battery systems and dry batteries, the company brings safe, reliable, and convenient power to a broad range of business areas, from mobility and social infrastructure to medical and consumer products. Panasonic Energy is committed to contributing to a society that realizes happiness and environmental sustainability, and through its business activities the company aims to address societal issues while taking the lead on environmental initiatives. For more details, please visit www.Panasonic.com/global/energy
About Mitsui
Mitsui & Co., Ltd. (TYO: 8031.JP) is a global trading and investment company with a diversified business portfolio that spans approximately 63 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.
Mitsui has about 5,500 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries.
Leveraging its strengths, Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative Energy Solutions, Healthcare & Nutrition and through a strategic focus on high-growth Asian markets. This strategy aims to derive growth opportunities by harnessing some of the world’s main mega-trends: sustainability, health & wellness, digitalization and the growing power of the consumer.
Mitsui has a long heritage in Asia, where it has established a diverse and strategic portfolio of businesses and partners that gives it a strong differentiating edge, provides exceptional access for all global partners to the world’s fastest growing region and strengthens its international portfolio.
For more information on Mitsui & Co’s businesses visit, www.Mitsui.com
About Nouveau Monde Graphite
NMG is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, NMG aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com
Subscribe to our news feed: https://NMG.com/investors/#news
Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the timeline of the initiatives described in this press release, the entering into a definitive offtake agreement, the closing of transactions described in this press release, the results of the optimized feasibility study, the intended production of eco-friendly advanced materials, the Company’s commitments and initiatives outlined in the press release, the intended results of the initiatives described in this press release, the positive impact of the foregoing on project economics, the Company’s objective to be North America’s largest fully integrated natural graphite production, the Company’s relationship with its stakeholders, market trends and those statements which are discussed under the “About Nouveau Monde Graphite” paragraph and elsewhere in the press release which essentially describe the Company’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of Canadian and United States securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation of the equipment supporting the production, the Company’s business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.
Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company’s assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company’s businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments’ responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG’s Annual Information Form dated March 22, 2022, including in the section thereof captioned “Risk Factors”, which is available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
The market and industry data contained in this press release is based upon information from independent industry publications, market research, analyst reports and surveys and other publicly available sources. Although the Company believes these sources to be generally reliable, market and industry data is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data-gathering process and other limitations and uncertainties inherent in any survey. The Company has not independently verified any of the data from third-party sources referred to in this press release and accordingly, the accuracy and completeness of such data is not guaranteed.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information regarding the Company is available in the SEDAR database (www.sedar.com), and for United States readers on EDGAR (www.sec.gov), and on the Company’s website at: www.NMG.com
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. "United States" and "U.S. person" are as defined in Regulation S under the U.S. Securities Act.
MEDIA
Julie Paquet
VP Communications & ESG Strategy
+1-450-757-8905 #140
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INVESTORS
Marc Jasmin
Director, Investor Relations
+1-450-757-8905 #993
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HOUSTON--(BUSINESS WIRE)--Aris Water Solutions, Inc. (NYSE: ARIS) (“Aris”, “Aris Water” or the “Company”) announced today that it will host a conference call to discuss its third quarter 2022 results on Thursday November 10, 2022, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). Aris will issue its third quarter 2022 earnings release after market close on November 9, 2022.
Participants should call (877) 407-5792 and refer to Aris Water Solutions, Inc. when dialing in. Participants are encouraged to log in to the webcast or dial in to the conference call approximately ten minutes prior to the start time. To listen via live webcast, please visit the Investor Relations section of the Company’s website, www.ariswater.com.
An audio replay of the conference call will be available shortly after the conclusion of the call and will remain available for approximately fourteen days. It can be accessed by dialing (877) 660-6853 within the United States or (201) 612-7415 outside of the United States. The conference call replay access code is 13732938.
About Aris Water Solutions, Inc.
Aris Water Solutions, Inc. (NYSE: ARIS) is a leading, growth-oriented environmental infrastructure and solutions company that directly helps its customers reduce their water and carbon footprints. Aris Water delivers full-cycle water handling and recycling solutions that increase the sustainability of energy company operations. Its integrated pipelines and related infrastructure create long-term value by delivering high-capacity, comprehensive produced water management, recycling and supply solutions to operators in the core areas of the Permian Basin. Additional information is available on our website, www.ariswater.com.
David Tuerff
Senior Vice President, Finance and Investor Relations
(281) 501-3070
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TORONTO--(BUSINESS WIRE)--$DMJ #carbonemissions--dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ)("dynaCERT" or the "Company") is pleased to announce that HDCPA Professional Corporation (“HDCPA”) has been retained by the Company to be its auditor.
Harpreet Dhawan, CPA, CA, Director and principal auditor of HDCPA stated, “HDCPA is a CPA firm with offices in Toronto and Mississauga and serving organizations across Canada and the US. HDCPA partners with other firms and professionals that share similar values and qualifications and is a member of AMERISERV, a network of independent firms. HDCPA’s Core Values are the pillars upon which our business has been established and each and every professional stands by them every step of the way: Integrity, Commitment, Excellence, and Collaboration. HDCPA is licensed with CPA Ontario as a public accounting firm authorized to perform assurance engagements and is also registered with the Canadian Public Accountability Board (CPAB). The firm has a team that understands the environmental stewardship and technology sector and have developed a niche in delivering assurance engagements in this sector for over a decade.”
Jeff Zajac, director of dynaCERT and Chair of the Audit Committee stated, “dynaCERT required very unique added value services, given our presence in innovative new markets and in the Carbon and Hydrogen markets. During our new auditor search, we identified the firm of HDCPA Professional Corporation as having expertise in two areas that are very specific to our Company. Their first-hand experience within both the Trucking Industry and the Automotive Manufacturing space gave us the peace of mind of having an auditor who would understand our business and provide added value within the audit process for years to come. What impressed the Audit Committee the most was their niche market expertise in the fields of ESG (Environmental, Social and Governance) as well as EPR (Extended Producer Responsibility), which are key value-added services that dynaCERT will most certainly need for the future. dynaCERT believes that HDCPA’s unique boutique firm nature will be an excellent match and bring added value to the audit process, in our modern-day world.”
HDCPA will take over from BDO Canada LLP ("BDO"), who resigned as the Company's auditors on their own initiative on August 5, 2022. The resignation of BDO and the appointment of HDCPA have been reviewed and approved by dynaCERT’s audit committee and the board of directors as a whole. BDO previously confirmed that there are no reportable events, "disagreements" or "unresolved issues" (as those terms are defined in National Instrument 51-102 – Continuous Disclosure Obligations) in connection with the change of auditor.
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed for the tracking of possible future Carbon Credits for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, which has shown to lower carbon emissions and improve fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment. Website: www.dynaCERT.com.
READER ADVISORY
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, information relating to HDCPA Professional Corporation cannot be independently verified. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of the release.
On Behalf of the Board
Murray James Payne, CEO
Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com
TORONTO--(BUSINESS WIRE)--$LGO #cleanenergy--Largo Inc. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) will release its third quarter 2022 financial results on Wednesday, November 9 after the close of market trading. Additionally, the Company will host a webcast and conference call to discuss its third quarter 2022 operating and financial results on Thursday, November 10 at 1:00 p.m. ET.
Details of the webcast and conference call are listed below:
Date: |
Thursday, November 10, 2022 |
Time: |
1:00 p.m. ET |
Webcast Registration Link: |
|
Dial-in Number: |
Local: +1 (647) 794-4605 |
North American Toll Free: +1 (888) 204-4368 |
|
Conference ID: |
3815502 |
Replay Number: |
Local / International: + 1 (416) 764-8677 |
North American Toll Free: +1 (888) 390-0541 |
|
Replay Passcode: 214434 # |
|
Website: |
To view press releases or any additional financial information, please visit the Investor Resources section of the Company’s website at: www.largoinc.com/investors/overview |
About Largo
Largo has a long and successful history as one of the world’s preferred vanadium companies through the supply of its VPURE™ and VPURE+™ products, which are sourced from one of the world's highest-grade vanadium deposits at the Company's Maracás Menchen Mine in Brazil. Aiming to enhance value creation at Largo, the Company is in the process of implementing a titanium dioxide pigment plant using feedstock sourced from its existing operations in addition to advancing its U.S.-based clean energy division with its VCHARGE vanadium batteries. Largo’s VCHARGE vanadium batteries contain a variety of innovations, enabling an efficient, safe and ESG-aligned long duration solution that is fully recyclable at the end of its 25+ year lifespan. Producing some of the world’s highest quality vanadium, Largo’s strategic business plan is based on two pillars: 1.) vanadium production from its operations in Brazil and 2.) energy storage business in the U.S. to support a low carbon future through its clean energy division.
Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol "LGO". For more information, please visit www.largoinc.com.
Investor Relations
Alex Guthrie
Senior Manager, External Relations
+1.416.861.9778
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TORONTO--(BUSINESS WIRE)--Li-Cycle Holdings Corp. (NYSE: LICY) ("Li-Cycle" or the “Company"), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced that it will participate in Chardan Capital Market LLC’s Disruptive Technology Leadership Series, and host investor meetings on Thursday, October 20, 2022.
An investor presentation related to these meetings will be made available on the Investor Relations section of the Company’s website at https://investors.li-cycle.com.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.
Investor Relations
Nahla A. Azmy
Sheldon D’souza
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Press
Louie Diaz
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EL DORADO, Ark.--(BUSINESS WIRE)--The Board of Directors of Murphy USA Inc. (NYSE: MUSA) today declared a quarterly cash dividend on the Common Stock of Murphy USA Inc. of $0.35 per share, or $1.40 per share on an annualized basis, reflecting a 9% increase from the prior quarter. The dividend is payable on December 1, 2022, to stockholders of record as of November 8, 2022.
About Murphy USA
Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,650 stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 240 among Fortune 500 companies.
Forward-Looking Statements
Certain statements in this news release contain or may suggest “forward-looking” information (as defined in the Private Securities Litigation Reform Act of 1995) that involve risk and uncertainties, including, but not limited to our M&A activity, anticipated store openings, fuel margins, merchandise margins, sales of RINs, trends in the Company’s operations, dividends and share repurchases. Such statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual future results may differ materially from historical results or current expectations depending upon factors including, but not limited to: the Company’s ability to realize projected synergies from the acquisition of QuickChek and successfully expand our food and beverage offerings; the Company’s ability to continue to maintain a good business relationship with Walmart; successful execution of the Company’s growth strategy, including the Company’s ability to realize the anticipated benefits from such growth initiatives, and the timely completion of construction associated with the Company’s newly planned stores which may be impacted by the financial health of third parties; the Company’s ability to effectively manage the Company’s inventory, disruptions in the Company’s supply chain and the Company’s ability to control costs; the impact of severe weather events, such as hurricanes, floods and earthquakes; the impact of a global health pandemic, such as COVID-19, including the impact on the Company’s fuel volumes if the gradual recoveries experienced throughout 2020 and 2021 stall or reverse as a result of any resurgence in COVID-19 infection rates and government reaction in response thereof; the impact of any systems failures, cybersecurity and/or security breaches of the company or its vendor partners, including any security breach that results in theft, transfer or unauthorized disclosure of customer, employee or company information or the Company’s compliance with information security and privacy laws and regulations in the event of such an incident; successful execution of the Company’s information technology strategy; reduced demand for our products due to the implementation of more stringent fuel economy and greenhouse gas reduction requirements, or increasingly widespread adoption of electric vehicle technology; future tobacco or e-cigarette legislation and any other efforts that make purchasing tobacco products more costly or difficult could hurt the Company’s revenues and impact gross margins; changes to the Company’s capital allocation, including the timing, declaration, amount and payment of any future dividends or levels of the Company’s share repurchases, or management of operating cash; the market price of the Company’s stock prevailing from time to time, the nature of other investment opportunities presented to the Company from time to time, the Company’s cash flows from operations, and general economic conditions; compliance with debt covenants; availability and cost of credit; and changes in interest rates. Murphy USA’s SEC reports, including its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, contain other information on these and other factors that could affect our financial results and cause actual results to differ materially from any forward-looking information we may provide. Murphy USA undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.
Investor Contact:
Christian Pikul – Vice President of Investor Relations and FP&A
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Mitchell Freer – Senior Investor Relations Analyst
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HOUSTON--(BUSINESS WIRE)--$XPRO #Expro--Expro Group Holdings N.V. (NYSE: XPRO) (“Expro” or the “Company”) will hold a conference call on November 3, 2022 to discuss results for the quarter ended September 30, 2022. The conference call is scheduled to begin at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). A press release regarding the results will be issued before the market opens on November 3 and the press release, together with associated presentation slides, will be posted to the investor relations section of the Expro website in advance of the conference call.
We encourage those who plan to dial-in to the conference to pre-register: pre-registration link. Callers who pre-register will be given a dial-in number and unique PIN via email to gain immediate access to the call.
Participants may also join the conference call by dialing:
US: 1 844 200 6205
International: +1 929 526 1599
Access code: 181589
To listen via live webcast, please visit the investor section of www.expro.com.
An audio replay of the webcast will be available in the Investor section of the Company’s website approximately 3 hours after the conclusion of the call and remain available for a period of 12 months.
To access the audio replay telephonically:
Dial-In: US 1 929 458 6194 or 44 (204) 525 0658
Access ID: 382360
Start Date: November 3, 2022, 1:00 p.m. CT
End Date: November 10, 2022, 11:00 p.m. CT
ABOUT EXPRO
Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company considers to be best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access and well intervention and integrity solutions.
With roots dating to 1938, Expro has approximately 7,200 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries.
For more information, please visit: expro.com and connect with Expro on Twitter: @ExproGroup and LinkedIn: @Expro.
Karen David-Green – Chief Communications, Stakeholder & Sustainability Officer
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+1 281 994 1056
With a new CIO, Endurant Energy is poised for further growth
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Distributed energy resource developer and owner Endurant Energy (Endurant) has announced the appointment of Karin Logan as Chief Investment Officer.
Logan is a 20-year finance professional with a strong track record of structuring and financing utility and distributed energy projects.
“This is an important hire for Endurant, allowing the company to streamline the deployment of our capital into distributed energy assets,” said Tom Chadwick, Endurant’s Chief Executive Officer. “I am delighted with the wealth of experience Karin brings to the table and know she will be a powerful addition to the team.”
Logan most recently came from Silicon Valley Bank, a market leader in distributed energy, where she structured and syndicated $5.0 billion in distributed energy projects. Prior to Silicon Valley Bank, Karin spent 7 years at MUFG underwriting project finance transactions across a broad spectrum of technologies in the bank and institutional markets. Karin graduated from Columbia University with a master’s in International Affairs concentrating in energy policy and holds an undergraduate degree from Lafayette College with a major in Business and Economics.
“In today’s increasingly unpredictable world, resiliency and clean energy are critical to business continuity,” said Karin Logan. “Endurant’s boutique energy solution will lead companies into the future and help them achieve energy independence with market-leading technology. I’m looking forward to finding win-win solutions for our clients that can help them source clean, reliable energy while contributing to their bottom line.”
As Endurant’s first Chief Investment Officer, Karen will be responsible for appraising new projects, structuring financial ownership of projects, and assessing the risks associated with them.
Endurant Energy is a distributed energy resource developer and owner headquartered in Chicago, with offices in New York City as well as Anaheim and Beverly Hills, California.
About Endurant Energy:
Endurant Energy develops and owns reliable, resilient, clean, and cost-effective on-site energy infrastructure solutions across the US. It has expertise in a wide range of solutions including renewable thermal systems at single building or district scale, fuel-based technologies for resiliency, solar + storage solutions, and an integrated offering for eco-districts. Services include planning, financial structuring, design, and construction. Asset management services include operations and maintenance. By integrating solutions into clients' operations, Endurant is enabling the future of sustainable distributed energy. For more information, please visit endurant.com and follow us on Twitter at @endurantenergy.
Media Contact
Dave Yanni
Chief Development Officer
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Growing Production With High-Impact Exploration Drilling Underway
Deleveraging & Accelerating Shareholder Returns
BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator today announces its operational update for the three-month period ended September 30, 2022 (“3Q2022”).
All figures are expressed in US Dollars. Growth comparisons refer to the same period of the prior year, except when otherwise specified.
Accelerating Production Growth
Llanos Basin: Growing Production and Drilling High-Potential Prospects
Llanos 34 block (GeoPark operated, 45% WI):
CPO-5 block (GeoPark non-operated, 30% WI):
Llanos 87 block (GeoPark operated, 50% WI):
Llanos 94 block (GeoPark non-operated, 50% WI):
Oriente Basin: New Drilling Success
Espejo block (GeoPark operated, 50% WI):
Putumayo Basin: Drilling Attractive Short-Cycle Prospects
Platanillo block (GeoPark operated, 100% WI):
2022 Work Program: Strong Cash Flow Generation
Debt Reduction and Balance Sheet Strengthening
Returning More Value to Shareholders
Upcoming Catalysts
Breakdown of Quarterly Production by Country
The following table shows production figures for 3Q2022, as compared to 3Q2021:
|
3Q2022 |
3Q2021 |
||||
Total
|
Oil
|
Gas
|
Total
|
% Chg. |
||
Colombia |
33,338 |
33,275 |
378 |
|
31,565 |
+6% |
Chile |
2,425 |
387 |
12,228 |
|
2,354 |
+3% |
Brazil |
1,439 |
19 |
8,520 |
|
1,791 |
-20% |
Ecuador |
1,194 |
1,194 |
- |
|
- |
- |
Argentinab |
- |
- |
- |
|
2,149 |
- |
Total (as reported) |
38,396 |
34,875 |
21,126 |
|
37,859 |
+1% |
Total (pro forma)c |
38,396 |
34,875 |
21,126 |
|
35,710 |
+8% |
|
||||||
| a) | Includes royalties paid in kind in Colombia for approximately 911 bopd in 3Q2022. No royalties were paid in kind in Brazil, Chile or Ecuador. Production in Ecuador is reported before the Government’s production share of approximately 483 bopd. |
|
| b) | Argentina blocks were divested on January 31, 2022. |
|
| c) | Pro forma production in 3Q2021 excludes production from divested blocks in Argentina (completed in January 2022). |
Quarterly Production
(boepd) |
3Q2022 |
2Q2022 |
1Q2022 |
4Q2021 |
3Q2021 |
Colombia |
33,338 |
34,253 |
33,738 |
32,002 |
31,565 |
Chile |
2,425 |
2,358 |
2,279 |
2,162 |
2,354 |
Brazil |
1,439 |
1,695 |
1,815 |
1,822 |
1,791 |
Ecuador |
1,194 |
634 |
290 |
- |
- |
Argentina |
- |
- |
604 |
1,942 |
2,149 |
Total a |
38,396 |
38,940 |
38,726 |
37,928 |
37,859 |
Oil |
34,875 |
35,238 |
34,542 |
33,205 |
32,844 |
Gas |
3,521 |
3,702 |
4,184 |
4,723 |
5,015 |
| a) | In Colombia, production is shown before royalties paid in kind, and in Ecuador it is shown before the Government’s production share. |
Oil and Gas Production Update
Consolidated:
Oil and gas production in 3Q2022 was 38,396 boepd. Adjusting for divestments in Argentina (completed on January 31, 2022), consolidated oil and gas production increased by 8% compared to 3Q2021, due to higher production in Colombia, Chile and Ecuador, partially offset by lower production in Brazil. Oil represented 91% and 87% of total reported production in 3Q2022 and 3Q2021, respectively.
Compared to 2Q2022, oil and gas production was 1% lower, mainly due to temporary local blockades in Colombia that reduced 3Q2022 production by approximately 1,100-1,200 boepd, and to a lesser extent, lower gas production in Brazil.
Colombia:
Average net oil and gas production in Colombia increased by 6% to 33,338 boepd in 3Q2022 compared to 31,565 boepd in 3Q2021, resulting from increased production in the Llanos 34 and CPO-5 blocks, partially offset by lower production in the Platanillo block.
Oil and gas production highlights in GeoPark’s main blocks in Colombia:
Ongoing Activity in the Llanos Basin
Llanos 34 Block
CPO-5 Block
Llanos 87 Block
Llanos 94 Block
Chile:
Average net production in Chile increased by 3% to 2,425 boepd in 3Q2022 compared to 2,354 boepd in 3Q2021, resulting from higher oil production, partially offset by lower gas production due to the natural decline of the fields and limited drilling activities. The production mix was 84% natural gas (vs 88% in 3Q2021) and 16% light oil (vs 12% in 3Q2021).
Brazil:
Average net production in the Manati field in Brazil decreased by 20% to 1,439 boepd in 3Q2022 compared to 1,791 boepd in 3Q2021. Production in Manati was temporarily interrupted for 7 days in September 2022 due to lower gas demand. Production has been gradually recovering since end-September, with current net production of approximately 1,500 boepd.
The production mix was 99% natural gas and 1% oil and condensate in both 3Q2022 and 3Q2021.
Ecuador:
Perico block (GeoPark non-operated, 50% WI)
Average net oil production in Ecuador reached 1,194 bopd in 3Q2022 before the Government’s production share (or 711 bopd after the Government’s share), with production in the quarter being affected by well intervention activities and facilities optimization works carried out in the Yin 1 well.
The Perico block is currently producing approximately 3,000 bopd gross, or 1,500 bopd net from the Jandaya, Tui and Yin fields, before considering the Government’s production share.
The Government’s production share varies with oil prices and is approximately 30-40% considering an Oriente crude oil price of $70-100 per bbl.
Espejo block
Drilled the Pashuri 1 exploration well that reached total depth in October 2022. Preliminary logging information and other relevant data indicated the presence of hydrocarbons in the M1 and U sandstones in the Napo formation. Completion activities currently underway with production tests to initiate by end-October 2022.
OTHER NEWS
Reporting Date, Conference Call & Webcast for 3Q2022 financial results, and Work Program and Investment Guidelines for 2023
GeoPark will report its 3Q2022 financial results on Wednesday, November 9, 2022, after the market close.
In conjunction with the 3Q2022 results press release, GeoPark management will host a conference call on November 10, 2022, at 10:00 am (Eastern Daylight Time) to discuss the 3Q2022 financial results, and the Work Program and Investment Guidelines for 2023.
To listen to the call, participants can access the webcast located in the Investor Support section of the Company’s website at www.geo-park.com, or by clicking below:
https://events.q4inc.com/attendee/960192027
Interested parties may participate in the conference call by dialing the numbers provided below:
United States Participants: 844-200-6205
International Participants: +1 929-526-1599
Passcode: 648171
Please allow extra time prior to the call to visit the website and download any streaming media software that might be required to listen to the webcast.
An archive of the webcast replay will be made available in the Investor Support section of the Company’s website at www.geo-park.com after the conclusion of the live call.
NOTICE
Additional information about GeoPark can be found in the “Investor Support” section on the website at www.geo-park.com.
Certain amounts included in this press release have been rounded for ease of presentation.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.
Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief, or current expectations, regarding various matters, including expected future financial performance and free cash flow generation, expected production growth, drilling activities, demand for oil and gas, oil and gas prices, our work program and investment guidelines, regulatory approvals, reserves and exploration resources. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.
Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).
1 Percentages are calculated adjusting for divestments in Argentina in 3Q2021.
2 Brent oil price assumption corresponds to October to December 2022.
3 Free cash flow is used here as Adjusted EBITDA less income tax, capital expenditures and mandatory interest payments.
4 Calculated using GeoPark’s average market capitalization from July 1 to October 18, 2022.
5 Unaudited.
6 Annualized and calculated using GeoPark’s market capitalization from July 1 to October 18, 2022
7 Colombian Ministry of Energy and Mines, Report to Congress, p. 14.
INVESTORS:
Stacy Steimel
Shareholder Value Director
T: +562 2242 9600
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Miguel Bello
Market Access Director
T: +562 2242 9600
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Diego Gully
Investor Relations Director
T: +5411 4312 9400
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MEDIA:
Communications Department
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HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced that it will issue its third quarter 2022 earnings release before market open on Monday, November 7, 2022. The Company will host a conference call to discuss financial and operational results on Monday, November 7, 2022 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).
The call will be webcast on Cactus’ website at www.CactusWHD.com. Please access the webcast at least 10 minutes ahead of the start time to ensure a proper connection. An archived version will be available on the Company’s website shortly after the end of the call.
About Cactus, Inc.
Cactus designs, manufactures, sells and rents a range of highly engineered wellhead and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus operates service centers throughout the United States and Australia, while also providing equipment and services in select international markets.
Cactus, Inc.
John Fitzgerald, 713-904-4655
Director of Corporate Development and Investor Relations
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BUFFALO, N.Y.--(BUSINESS WIRE)--$ROCK #ROCK--Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and provider of products and services for the renewable energy, residential, agtech and infrastructure markets, announced today that it expects to release its third quarter 2022 financial results at approximately 7:30 a.m. ET on Thursday, November 3, 2022. It also expects to discuss the results on a conference call that will be webcast live that same day starting at 9:00 a.m. ET. Hosting the call will be Chief Executive Officer William Bosway and Chief Financial Officer Timothy Murphy.
Those who wish to listen to the conference call should visit the Investors section of the Company’s website at www.gibraltar1.com. The call also may be accessed by dialing (877) 407-3088 or (201) 389-0927. For interested individuals unable to join the live conference call, a webcast replay will be available on the Company’s website for one year.
About Gibraltar
Gibraltar is a leading manufacturer and provider of products and services for the renewable energy, residential, agtech, and infrastructure markets. Gibraltar’s mission, to make life better for people and the planet, is fueled by advancing the disciplines of engineering, science, and technology. Gibraltar is innovating to reshape critical markets in comfortable living, sustainable power, and productive growing throughout North America. For more please visit www.gibraltar1.com.
Timothy Murphy
Chief Financial Officer
(716) 826-6500 ext. 3277
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LHA Investor Relations
Carolyn Capaccio/Jody Burfening
(212) 838-3777
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MUNICH--(BUSINESS WIRE)--SimScale launched a new online learning center for its cloud-native engineering simulation platform. Users can access the easy-to-use training resources at https://learning.simscale.com/.
SimScale is a fully cloud-native simulation platform accessed through a web browser and used by engineers globally. The platform is used by leading engineering and design firms in diverse industries, including construction, automotive, turbomachinery, electronics, industrial products, and medical devices. With easy CAD handling and simple yet powerful features, engineers use SimScale for computational fluid dynamics (CFD), Finite Element Analysis (FEA), and related analysis types.
The new learning center has 85 videos so far and targets all levels, from beginners to advanced users. It includes structured learning paths for CFD and FEA, integrating both the theory and applied examples that are common in industry. The learning center is developed for enterprise-wide deployment where distributed teams of engineers can access on-demand learning resources and onboard faster.
The learning paths contain introductory training videos and resources on the SimScale platform, introduction to the simulation interface, CAD import and cleanup, meshing, and post-processing with results analysis. Specific case studies in the CFD track are aimed at a broad audience. They include rotating machinery examples, electronics cooling, indoor thermal comfort, pedestrian wind comfort, and building aerodynamics. Similarly, the FEA learning path has valuable examples including non-linear static analysis, such as snap-fit applications and drop test / impact testing.
Engineers can use the on-demand training videos, corresponding CAD models, and course notes included in the learning center. The learning center is free to all Professional Plan subscribers, and more topics are being added regularly. It comes with a structured certification program for each skill level completed that can be easily shared on a users’ LinkedIn profile.
To access the self-paced learning center visit https://learning.simscale.com/
About SimScale
SimScale provides engineering teams with a cloud-native platform focused on making high-fidelity simulation technically and economically accessible through streamlined workflows, modern sharing and collaboration features, and computational resources that scale up on-demand. With SimScale, engineering teams can optimize their designs with accuracy and ease, and focus on what matters the most: designing and innovating faster. Visit simscale.com for information.
SimScale is registered trademarks of SimScale GmbH. All other trademarks not owned by SimScale GmbH are the property of their respective owners.
SimScale
Munich, Germany
Boston, MA, USA
simscale.com
Dr. Naghman Khan
Technical Marketing Manager
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CALGARY, Alberta--(BUSINESS WIRE)--FLO, a leading North American electric vehicle charging network, and Imperial (TSE: IMO, NYSE American: IMO) announced a unique collaboration that will support Canada’s net zero greenhouse gas (GHG) emissions goals by expanding FLO charging network for electric vehicles.
“Our collaboration with Imperial is noteworthy—involving two major players in Canada’s energy sector in support of furthering Canada’s goal of net-zero carbon emissions by 2050,” said Louis Tremblay, president and CEO of FLO. “Importantly, the agreement will generate financial benefits that will allow FLO to expand its EV charging station deployments, propelling our goal of transforming Canada’s mobility future. We’re thrilled with this agreement, and eager to bring Canadians more reliable EV charging solutions nationwide.”
“Canada has clearly defined policies that support lower-emissions solutions and deployment of new technologies,” said Jon Wetmore, Imperial’s vice president of downstream. “Our collaboration with FLO will complement other Imperial GHG emission-reduction efforts, including plans to produce and supply lower-emission fuels, next-generation resource recovery technologies and carbon capture.”
Key components of the collaboration include jointly developing a charging service option for Imperial’s Esso- and Mobil-branded wholesalers, and an agreement to transfer credits under federal Clean Fuel Regulations.
About FLO
FLO is a leading North American electric vehicle (EV) charging network operator and a smart charging solutions provider. We fight climate change by accelerating EV adoption through a vertically integrated business model and delivering EV drivers the most dependable charging experience from curbside to countryside. Every month, we enable more than 900,000 charging events thanks to over 70,000 fast and level 2 EV charging stations deployed at public, private and residential locations. FLO operates across North America and our high-quality charging stations are assembled with care in Michigan and Quebec. To learn more about what “EV charging done right” means to us, visit flo.com.
About Imperial
After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.
Cautionary Statements
Statements of future events or conditions in this report, including projections, targets, expectations, estimates, and business plans are forward-looking statements. Forward-looking statements can be identified by words such as propose, plan, project, estimate, expect, may, should, will and similar references to future periods. Forward-looking statements in this report include, but are not limited to, references to the ability to expand EV charging station deployments and the transfer of credits; any financial benefits resulting from the collaboration; the impact on Canada’s net zero GHG emissions goals; and complementing other Imperial GHG emission-reduction efforts, including plans for lower-emission fuels, next-generation resource recovery technologies and carbon capture.
Forward-looking statements are based on the company's current expectations, estimates, projections and assumptions at the time the statements are made. Actual future financial and operating results, including expectations and assumptions concerning future energy demand, supply and mix; commodity prices, foreign exchange rates and general market conditions; project plans, timing, costs, technical evaluations and capacities, and the companies’ ability to effectively execute on these plans, including with respect to lower-emission fuels, next-generation resource recovery technologies and carbon capture; the ability to deploy EV charging stations; the adoption and impact of new facilities or technologies on capital efficiency, production and reductions to greenhouse gas emissions intensity; the amount and timing of emissions reductions; that any required support from policymakers and other stakeholders for various new technologies will be provided; applicable laws and government policies, including taxation and with respect to climate change and greenhouse gas emissions reductions; receipt of regulatory approvals; and capital and environmental expenditures could differ materially depending on a number of factors. These factors include global, regional or local changes in supply and demand for oil, natural gas, petroleum and petrochemical products, electricity, feedstocks and other market or economic conditions and resulting demand, price, differential and margin impacts; the results of research programs and new technologies, including with respect to greenhouse gas emissions, the ability to bring new technologies to commercial scale on a cost-competitive basis, and the competitiveness of alternative energy and other emission reduction technologies; the receipt, in a timely manner, of regulatory and third-party approvals; availability and allocation of capital; failure or delay of supportive policy and market development for emerging lower emission energy technologies and EV charging stations; environmental regulation, including climate change and greenhouse gas regulation and changes to such regulation; availability and performance of third-party service providers; political or regulatory events, including changes in law or government policy, applicable royalty rates, tax laws, climate change and actions in response to COVID-19; unexpected technological developments; general economic conditions, including the occurrence and duration of economic recessions; and other factors discussed in the risk factors and management discussion and analysis of Imperial’s most recent annual report on Form 10-K and subsequent interim reports on Form 10-Q.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas and energy companies and some that are unique to Imperial Oil Limited. The companies’ actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. The companies undertake no obligation to update any forward-looking statements contained herein, except as required by applicable law.
Source: Imperial
For further information:
FLO
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(418) 523-1828
Imperial
Investor relations
(587) 476-4743
Media relations
(587) 476-7010
PARIS--(BUSINESS WIRE)--Regulatory News:
Technip Energies (Paris:TE) (ISIN:NL0014559478) (the “Company”), a leading Engineering & Technology company for the energy transition, today announces its unaudited financial results for the first nine months of 2022.
Arnaud Pieton, Chief Executive Officer of Technip Energies, commented:
“The world requires an energy system that balances affordability, availability, and sustainability. Recent events have underlined the urgent need for increased investment and accelerated project development, with a particular emphasis on natural gas, LNG, and low-to-zero carbon solutions.”
“For our company, this market reality is first evidenced by strong TPS order intake driving a 60% step change in segment backlog year-over-year, with notable awards in renewable fuels and ethylene markets - this reinforces the revenue growth trajectory of our highest margin segment. Furthermore, the commercial pipeline for Project Delivery is also growing with substantial early engagement in energy transition and traditional prospects. As such, we expect a significant improvement in order intake trends over the next 12-18 months. This also confirms that the combination of longer cycle Project Delivery with value accretive TPS provides an ideal blend for T.EN to be successful across energy cycles.”
“In the third quarter, our teams continued to demonstrate robust business execution and our revenues excluding Arctic LNG 2 increased as planned. The strength in margins, which are in line with our medium-term trajectory, demonstrates the quality of our underlying portfolio, an improving mix, and world-class project delivery.”
“Our orderly exit from Arctic LNG 2 is progressing and all operational personnel have been demobilized from the project. We have signed an Exit Framework Agreement with our customer, which we are currently implementing, and anticipate completing this process within the first half of 2023. The improved visibility on Arctic LNG 2 combined with nine months of achieved financials has enabled us to return to full company guidance for 2022.”
“T.EN’s business strategy is fully aligned with an improving energy market outlook. Supported by our strong balance sheet and commitment to further investment in our technology portfolio, we are well positioned to enable solutions for affordable, available, and sustainable energy. We remain resolutely focused on generating value for our shareholders through effective capital allocation and sustained excellence in execution.”
Key financials – adjusted IFRS
(In € millions, except EPS) |
9M 2022 |
9M 2021 |
||
Revenue(1) |
4,862.2 |
4,909.9 |
||
Recurring EBIT(1) |
335.9 |
307.5 |
||
Recurring EBIT margin % |
6.9% |
6.3% |
||
Net profit |
222.9 |
159.7 |
||
Diluted earnings per share(2) |
€1.25 |
€0.88 |
||
|
|
|
||
Order intake |
2,726.6 |
8,404.1 |
||
Backlog |
13,500.9 |
16,464.2 |
||
Financial information is presented under adjusted IFRS (see Appendix 8.0 for complete definition). Reconciliation of IFRS to non-IFRS financial measures are provided in Appendix 1.0, 2.0, 3.0. (1) 9M 2022 adjusted revenue and recurring EBIT included €989.8 million and €68.1 million respectively from Arctic LNG 2. (2) 9M 2022 and 9M 2021 diluted earnings per share have been calculated using the weighted average number of outstanding shares of 178,668,195 and 181,903,344 respectively. |
||||
Key financials – IFRS
(In € millions, except EPS) |
9M 2022 |
9M 2021 |
||
Revenue |
4,786.2 |
4,750.0 |
||
Net profit |
204.1 |
167.9 |
||
Diluted earnings per share(1) |
€1.14 |
€0.92 |
||
(1) 9M 2022 and 9M 2021 diluted earnings per share have been calculated using the weighted average number of outstanding shares of 178,668,195 and 181,903,344 respectively. |
||||
2022 full company guidance – adjusted IFRS
Full company guidance is consistent with prior financial framework for FY 2022. The prior framework excluded the contribution from Arctic LNG 2 and consisted of adjusted revenues of €5.0 - 5.5 billion, adjusted recurring EBIT margin of at least 6.8%, and adjusted effective tax rate of 28% - 32%. The full company guidance stated below now includes the expected contribution from Arctic LNG 2.
Revenue |
€6.2 – 6.5 billion |
|
Recurring EBIT margin |
6.7% – 6.9% |
|
Effective tax rate |
28% – 32% |
|
Financial information is presented under adjusted IFRS (see Appendix 8.0 for complete definition). Reconciliation of IFRS to non-IFRS financial measures are provided in Appendix 1.0, 2.0, 3.0. |
||
Conference call information
Technip Energies will host its 9M 2022 results conference call and webcast on Thursday, October 20, 2022 at 13:00 CET. Dial-in details:
France: |
+33 170918704 |
|
United Kingdom: |
+44 121 281 8004 |
|
United States: |
+1 718 7058796 |
|
Conference Code: |
77709 |
The event will be webcast simultaneously and can be accessed at: https://edge.media-server.com/mmc/p/uuw25hqj.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in LNG, hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The Company benefits from its robust project delivery model supported by an extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our clients’ innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States.
Operational and financial review
Order intake, backlog and backlog scheduling
Adjusted order intake for 9M 2022 of €2,727 million, equivalent to a book-to-bill of 0.6. Orders in the third quarter included a large ethylene contract for INEOS’ Project One cracker in Belgium, a significant contract for Neste renewable products refinery expansion in Rotterdam, an EPCC contract for YURI green hydrogen project in Australia, a FEED contract for Papua LNG upstream production facilities, a FEED contract for Gray Whale 3 floating offshore wind project in South Korea as well as other studies, services contracts and smaller projects.
The first half included notably a large EPC contract by Hafslund Oslo Celsio for the world’s largest full-scale waste-to-energy plant with carbon capture in Norway, a significant EPCC contract by PETRONAS Chemicals Fertilizer Kedah for a melamine plant with minimized CO2 footprint, a carbon capture & storage expansion at ExxonMobil’s LaBarge facility in the USA. Book-to-bill on a trailing 12 month basis is 0.6.
Adjusted backlog decreased by 18% year-over-year to €13,501 million. The company’s orderly exit from Arctic LNG 2 progressed in the third quarter of 2022 with an Exit Framework Agreement signed with the client. In light of this, the remaining backlog on the project has been reassessed in the period. At September 30, 2022, adjusted backlog includes €890 million associated with Arctic LNG 2.
(In € millions) |
9M 2022 |
9M 2021 |
||
Adjusted order intake |
2,726.6 |
8,404.1 |
||
Project Delivery |
1,235.7 |
7,478.3 |
||
Technology, Products & Services |
1,490.9 |
925.8 |
||
Adjusted backlog |
13,500.9 |
16,464.2 |
||
Project Delivery |
11,704.2 |
15,342.0 |
||
Technology, Products & Services |
1,796.6 |
1,122.2 |
||
Reconciliation of IFRS to non-IFRS financial measures are provided in Appendix 6.0 and 7.0. Adjusted backlog at September 30, 2022, benefited from a foreign exchange impact of €1,022.8 million. Adjusted backlog at September 30, 2022, included €889.6 million associated to Arctic LNG 2. |
||||
At September 30, 2022, adjusted backlog excluding the proportion related to Arctic LNG 2 amounted to €12,611 million. The table below provides estimated backlog scheduling as of September 30, 2022.
(In € millions) |
2022 (3 M) |
|
FY 2023 |
|
FY 2024+ |
|
Adjusted backlog excluding Arctic LNG 2 |
1,382.7 |
|
4,478.2 |
|
6,750.3 |
Company financial performance
Adjusted statement of income
(In € millions, except %) |
9M 2022 |
9M 2021 |
% Change |
|||
Adjusted revenue |
4,862.2 |
4,909.9 |
(1) % |
|||
Adjusted EBITDA |
415.9 |
389.5 |
7% |
|||
Adjusted recurring EBIT |
335.9 |
307.5 |
9% |
|||
Non-recurring items |
(2.8) |
(31.1) |
(91) % |
|||
EBIT |
333.1 |
276.4 |
21% |
|||
Financial income (expense), net |
(7.2) |
(18.6) |
(61) % |
|||
Profit (loss) before income tax |
325.9 |
257.9 |
26% |
|||
Income tax (expense)/profit |
(97.6) |
(87.8) |
11% |
|||
Net profit (loss) |
228.3 |
170.1 |
34% |
|||
Net profit (loss) attributable to non-controlling interests |
(5.4) |
(10.4) |
(48) % |
|||
Net profit (loss) attributable to Technip Energies Group |
222.9 |
159.7 |
40% |
Business highlights
Project Delivery – adjusted IFRS
(In € millions, except % and bps) |
9M 2022 |
9M 2021 |
% Change |
|||
Revenue |
3,895.6 |
3,995.5 |
(3)% |
|||
Recurring EBIT |
279.2 |
254.7 |
10% |
|||
Recurring EBIT margin % |
7.2% |
6.4% |
80 bps |
|||
Financial information is presented under adjusted IFRS (see Appendix 8.0 for complete definition). |
||||||
9M 2022 Adjusted revenue decreased by 3% year-over-year to €3.9 billion. Revenues included significantly lower activity on Arctic LNG 2, which contributed €989.8 million of revenue compared to €1,758.3 million in 9M 2021. Revenues excluding Arctic LNG 2 increased year-over-year by 30% due to the ramp-up of major LNG and downstream projects.
9M 2022 Adjusted recurring EBIT increased by 10% year-over-year to €279.2 million. The contribution from Arctic LNG 2 was €68.1 million, compared to €60.7 million in 9M 2021. Excluding the contribution from Arctic LNG 2, Adjusted Recurring EBIT was €211.1 million, representing year-over-year growth of 8.8%. 9M 2022 Adjusted recurring EBIT margin has increased year-over-year by 80 bps to 7.2% due to solid execution, including a strong contribution from LNG and downstream projects in the latter stages of completion. This was partially offset by earlier stage LNG projects. Adjusted Recurring EBIT margin excluding the contribution from Arctic LNG 2 was 7.3%.
Q3 2022 Key operational milestones
(Please refer to Q1 2022 and H1 2022 press releases for first half milestones)
Qatar Energy North Field Expansion (Qatar)
Eni Coral Sul FLNG (Mozambique)
Sempra LNG Energía Costa Azul (Mexico)
Energean Karish Gas Development (Israel)
bp Greater Tortue Ahmeyim FPSO (offshore Senegal / Mauritania)
MIDOR Refinery Expansion Project (Egypt)
HURL Barauni and Sindri Ammonia/Urea projects (India)
Borouge IV Ethylene project (UAE)
Q3 2022 Key commercial highlights
(Please refer to Q1 2022 and H1 2022 press releases for first half highlights)
Yuri Green Hydrogen Project (Australia)
Papua LNG Upstream Production Facilities (Papua New Guinea)
Technology, Products & Services (TPS) – adjusted IFRS
(In € millions, except % and bps) |
9M 2022 |
9M 2021 |
Change |
|||
Revenue |
966.6 |
914.4 |
6% |
|||
Recurring EBIT |
88.9 |
78.8 |
13% |
|||
Recurring EBIT margin % |
9.2% |
8.6% |
60 bps |
|||
Financial information is presented under adjusted IFRS (see Appendix 8.0 for complete definition). |
||||||
9M 2022 Adjusted revenue increased year-over-year by 6% to €966.6 million, driven by higher project management consultancy and engineering services activity in the Middle East, and improved activity in sustainable chemistry including renewable fuels, as well as Process Technology activity, including licensing and proprietary equipment, notably for PBAT, a biodegradable polymer, and ethylene.
9M 2022 Adjusted recurring EBIT increased year-over-year by 13% to €88.9 million. 9M 2022 Adjusted recurring EBIT margin increased year-over-year by 60 bps to 9.2%, benefiting from higher volumes in Process Technology licensing and proprietary equipment, notably in Sustainable Chemistry, and higher activity levels for project management consultancy and advisory services performed by Genesis. This growth was achieved despite higher selling and tendering activity in growth markets.
Q3 2022 Key operational milestones
(Please refer to Q1 2022 and H1 2022 press releases for first half milestones)
Neste Renewable Fuels Expansion (Singapore)
Neste Renewable Products Refinery Expansion, Rotterdam (Netherlands)
Shell Skyline Ethylene Furnace Revamp EPF (Netherlands)
bp Greater Tortue Ahmeyim FPSO (offshore Senegal / Mauritania)
Q3 2022 Key commercial highlights
(Please refer to Q1 2022 and H1 2022 press releases for first half highlights)
INEOS’ ethylene Project One cracker (Belgium)
Neste Renewable Products Refinery Expansion in Rotterdam (Netherlands)
Gray Whale 3 Floating Offshore Wind Project (South Korea)
License of first Blue H₂ by T.EN™ plant to LG Chem (South Korea)
Acquisition of Biosuccinium® technology for bio-sourced and fully biodegradable polymers production
Collaboration with deepC Store and Mitsui O.S.K. Lines for a floating carbon capture & storage hub development
Advance technology collaboration with Agilyx with the launch of TruStyrenyx™ for chemical recycling of polystyrene
Cooperation agreement with APChemi for advanced plastic Waste-to-Olefins technology
Corporate and other items
Corporate costs, excluding non-recurring items, were €32.2 million for the first nine months of 2022. This included a positive foreign exchange impact of €2.1 million. This compare with corporate costs of €26.0 million in the prior year period.
Non-recurring expense amounted to €2.8 million mainly related to impairment on leased offices and restructuring charges.
Net financial expense was €7.2 million, impacted by the mark-to-market valuation of investments in traded securities and, to a lesser extent, interest expenses associated with the senior unsecured notes, partially offset by interest income from cash on deposit which is progressively benefiting from higher rates of interest.
Effective tax rate on an adjusted IFRS basis was 29.9% for the first nine months 2022, in line with full company guidance for 2022.
Depreciation and amortization expense was €80.0 million, of which €53.0 million is related to IFRS 16.
Adjusted net cash at September 30, 2022 was €3.3 billion, which compares to Adjusted net cash at December 31, 2021 of €3.1 billion.
Adjusted free cash flow was €122.1 million for the first nine months of 2022. Free cash flow, excluding the working capital variance of €152.6 million, was €274.7 million benefiting from strong operational performance and consistently high conversion from adjusted recurring EBIT. Free cash flow is stated after capital expenditures, net, of €36.5 million. Adjusted operating cash flow was €158.6 million.
Liquidity and credit
Investor Relations
Phillip Lindsay
Vice President, Investor Relations
Tel: +44 20 7585 5051
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Media Relations
Stella Fumey
Director Press Relations & Digital Communications
Tel: +33 1 85 67 40 95
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CLEARWATER, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, today announced that the Company will hold a webcast to review its fourth quarter and full year fiscal 2022 results on Thursday, October 27, 2022, at 10:00 a.m. Eastern Time.
To access the webcast, please visit the investor relations section of the Company's website: http://www.marinemax.com. The online replay will be available for a limited time beginning within one hour of the conclusion of the call.
The Company will release its fourth quarter and full year fiscal 2022 financial results prior to the market open on Thursday, October 27, 2022.
During the call, it is possible that the Company may make public disclosure of material nonpublic information and may make forward-looking statements regarding the Company's business, operations, and financial condition.
About MarineMax
MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts, and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 78 retail dealership locations, some of which include marinas. Collectively, with the IGY acquisition, MarineMax owns or operates 57 marinas worldwide. Through Fraser Yachts and Northrop & Johnson, the Company also is the largest superyacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufactures boats and yachts with sales through our select retail dealership locations and through independent dealers. Intrepid Powerboats, a MarineMax company, manufactures powerboats and sells through a direct-to-consumer model. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also owns Boatyard, an industry-leading customer experience digital product company. MarineMax is a New York Stock Exchange-listed company (NYSE: HZO). For more information, please visit www.marinemax.com.
Michael H. McLamb
Chief Financial Officer
727-531-1700
Media:
Katherine Cooper
MarineMax, Inc.
Investors:
Dawn Francfort or Brad Cohen
ICR, LLC
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STUTTGART, Germany & VANCOUVER, British Columbia--(BUSINESS WIRE)--Mercedes-Benz AG finalized a supply agreement with Canadian-German-start-up Rock Tech Lithium Inc. to secure high-quality lithium used in battery production as part of a direct sourcing approach. Starting in 2026, including a qualification period, this allows the Stuttgart-based luxury carmaker to get its battery partners supplied with raw material to rapidly scale up its production of fully electric vehicles.
Mercedes-Benz plans to go all electric by the end of the decade, wherever market conditions allow, requiring the brand with the three-pointed star to open new sources of raw materials with new partners. As part of the agreement, Rock Tech Lithium plans to supply battery-grade lithium hydroxide to Mercedes-Benz battery partners from a converter based in Guben, Brandenburg, Germany. Lithium hydroxide is needed for the production of lithium-ion batteries which are used in Mercedes-Benz electric vehicles.
“This significant amount of lithium sourced directly from Rock Tech will help Mercedes-Benz to advance localization of European production of state-of-the-art battery cells. Together with additional sourcing partnerships in the future, the on average 10,000 tons of lithium per annum will play a key role in securing the lithium supply for our battery production in Europe, to help achieve our ambitious electrification goals”, said Markus Schäfer, Member of the Board of Management of Mercedes-Benz Group AG, Chief Technology Officer, responsible for Research & Development and Procurement.
“Lithium hydroxide from Rock Tech offers Mercedes-Benz the opportunity to support two strategic goals: localized and reliable sourcing as well as production under high sustainability standards. We are very pleased to have found a partner that will take important steps with us towards a more resilient lithium supply chain and demonstrates trust in us to deliver an important part of their strategy and of the e-mobility transformation”, Markus Bruegmann, Chief Executive Officer of Rock Tech Lithium.
The strategic partnership between Rock Tech and Mercedes-Benz was announced during a German-Canadian summit in Toronto in August this year following the signing of a Memorandum of Understanding between Mercedes-Benz AG and Canada to explore deeper cooperation across all stages of the automotive value chain, focusing on natural resources development.
The supply agreement provides that both companies will cooperate in creating a roadmap to achieving CO2 neutral production of lithium hydroxide by the end of 2030. Additionally, it requires that all lithium hydroxide supplied by Rock Tech shall be sourced from mining sites audited by the Initiative for Responsible Mining Assurances ("IRMA").
Responsibly mined and processed raw materials provide the foundation for a sustainable all-electric Mercedes-Benz vehicle fleet. Respect and protection of human rights as well as of the environment are decisive criteria for choosing sourcing partners. In close cooperation with its suppliers the Stuttgart-based luxury car maker with the three-pointed star is therefore working on finding levers for the consistent reduction of CO₂ as well as joining forces in order to reduce the amount of rare earth metals per electric drive significantly.
About Mercedes-Benz
Mercedes-Benz has set the course for CO2 neutrality: With its strategic step from “Electric First” to “Electric Only”, the company is accelerating its transformation into an all-electric future. By continuously integrating the most advanced battery cell technology in cars and vans, Mercedes-Benz aims to increase range during the production lifecycle of a model. Mercedes-Benz is taking a comprehensive approach across the whole battery technology chain - from research and development to series production. The Stuttgart-based luxury carmaker buys battery cells from different partners on the world market, thus having access to the latest technology.
Mercedes-Benz has several battery partnerships with multiple providers in different geographies: in Europe ACC and CATL, in the United States Envision AESC and in China Farasis and CATL. Through in-depth know-how in the development and production of highly complex drive systems and the research and development expertise in the field of battery cells, Mercedes-Benz is involved with its suppliers in meeting the requisite specifications.
About Rock Tech Inc.
Rock Tech is a cleantech company on a mission to produce lithium hydroxide for EV batteries. The company plans to build converters at the door-step of its customers, to provide supply-chain transparency and just-in-time delivery. Furthermore, Rock Tech has gathered one of the strongest teams in the industry. It holds itself accountable to strict ESG standards and plans to source raw material from its own mineral project in Canada as well as procuring it from responsibly producing mines. In the years to come, the company aims to extract its material from discarded batteries. Rock Tech’s goal: to create a closed-loop lithium company.
More information can be found here.
Further information about Mercedes-Benz is available at www.mercedes-benz.com. Press information and digital services for journalists and multipliers can be found on our Mercedes me media online platform at media.mercedes-benz.com as well as on our Mercedes-Benz media site at group-media.mercedes-benz.com. Learn more about current topics and events related to Mercedes-Benz Cars & Vans on our @MB_Press Twitter channel at www.twitter.com/MB_Press.
Mercedes-Benz AG at a glance
Mercedes‑Benz AG is responsible for the global business of Mercedes‑Benz Cars and Mercedes‑Benz Vans, with around 172,000 employees worldwide. Ola Källenius is Chairman of the Board of Management of Mercedes‑Benz AG. The company focuses on the development, production and sales of passenger cars, vans and vehicle-related services. Furthermore, the company aspires to be the leader in the fields of electric mobility and vehicle software. The product portfolio comprises the Mercedes‑Benz brand with the brands of Mercedes‑AMG, Mercedes‑Maybach, Mercedes‑EQ, G‑Class as well as products of the smart brand. The Mercedes me brand offers access to the digital services from Mercedes‑Benz. Mercedes‑Benz AG is one of the world's largest manufacturers of luxury passenger cars. In 2021 it sold around 1.9 million passenger cars and nearly 386,200 vans. In its two business segments, Mercedes‑Benz AG is continually expanding its worldwide production network with around 35 production sites on four continents, while gearing itself to meet the requirements of electric mobility. At the same time, the company is constructing and extending its global battery production network on three continents. As sustainability is the guiding principle of the Mercedes‑Benz strategy and for the company itself, this means creating lasting value for all stakeholders: for customers, employees, investors, business partners and society as a whole. The basis for this is the sustainable business strategy of the Mercedes‑Benz Group. The company thus takes responsibility for the economic, ecological and social effects of its business activities and looks at the entire value chain.
Edward Taylor, +49 176 30 94 1776, This email address is being protected from spambots. You need JavaScript enabled to view it.
Benjamin Kraft, phone +49 176 3095 7277, This email address is being protected from spambots. You need JavaScript enabled to view it.
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DALLAS--(BUSINESS WIRE)--Energy Transfer LP (“ET”) today announced the quarterly cash distribution of $0.4609375 per Series C Preferred Unit (NYSE: ETprC), the quarterly cash distribution of $0.4765625 per Series D Preferred Unit (NYSE: ETprD), and the quarterly cash distribution of $0.4750000 per Series E Preferred Unit (NYSE: ETprE). These cash distributions will be paid on November 15, 2022 to Series C, Series D and Series E unitholders of record as of the close of business on November 1, 2022.
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at www.energytransfer.com.
Forward Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
This release serves as qualified notice to nominees as provided for under Treasury Regulation section 1.1446-4(b)(4) and (d). Please note that 100 percent of Energy Transfer LP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Energy Transfer LP’s distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Energy Transfer LP, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
The information contained in this press release is available on our website at energytransfer.com.
Investor Relations:
Bill Baerg
Brent Ratliff
Lyndsay Hannah
214-981-0795
Media Relations:
Vicki Granado
214-840-5820
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