HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) today announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.325 per share, or $1.30 per share on an annualized basis. The dividend is payable on November 15, 2021 to stockholders of record as of November 1, 2021.
About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy.
Safe Harbor
This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally.
Investors:
Kevin L. Cole, CFA
609.524.4526 This email address is being protected from spambots. You need JavaScript enabled to view it.
Media:
Candice Adams
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LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services, Inc., (NASDAQ: JBHT) announced third quarter 2021 net earnings of $199.8 million, or diluted earnings per share of $1.88 versus third quarter 2020 net earnings of $125.5 million, or $1.18 cents per diluted share.
Total operating revenue for the current quarter was $3.14 billion, an increase of 27% compared with $2.47 billion for the third quarter 2020. All segments contributed double-digit revenue growth versus the prior year period. Truckload (JBT) and Integrated Capacity Solutions (ICS) grew revenue 87% and 55% year-over-year, respectively, as both segments were able to source and secure capacity for customers in the Marketplace for J.B. Hunt 360°® in this capacity-constrained freight environment. Intermodal (JBI) revenue grew 17%, driven by a 24% increase in revenue per load, partially offset by a 6% decline in volume. Dedicated Contract Services® (DCS®) revenue grew 20% as a result of a 12% increase in average revenue producing trucks and a 7% increase in fleet productivity versus the prior year period. Final Mile Services® (FMS) revenue increased 13% as revenue per stop increased 17%, partially offset by 3% fewer stops. Current quarter total operating revenue, excluding fuel surcharges, increased 23% versus the comparable quarter 2020.
Total freight transactions in the Marketplace for J.B. Hunt 360 increased to $518 million in the third quarter 2021 compared to $358 million in the prior year quarter. ICS revenue on the platform increased 36% to $397 million versus a year ago. JBI and JBT executed approximately $34 million and $87 million, respectively, of third-party dray, independent contractor and power-only capacity through the platform during the quarter.
Operating income for the current quarter totaled $273.8 million versus $175.5 million for the third quarter 2020. Operating income increased from third quarter 2020 primarily from customer rate and cost recovery efforts and further scaling into our technology investments at a consolidated level, in addition to higher productivity of our assets and people across our ICS and JBT segments. These items were partially offset by a lack of network fluidity from both rail and customer activity in JBI as well as increases in: driver wage and recruiting costs; rail and truck purchase transportation expense; non-driver personnel salary, wages and incentive compensation; group medical expense; and implementation costs for new business in both our DCS and FMS segments.
Interest expense in the current quarter was comparable to the prior year period. The effective income tax rate for the current quarter was 23.7% compared to 23.3% for third quarter 2020. We expect our 2021 annual tax rate to fall between 23.5% and 24.0%.
Segment Information:
Intermodal (JBI)
Overall intermodal volumes declined 6% versus the same period in 2020. Eastern network loads declined 2%, while transcontinental loads declined 9% compared to the third quarter 2020. Demand for intermodal capacity remains strong, however, volumes in the quarter were negatively impacted by a continuation of rail restrictions across the network and elevated detention of trailing equipment at customer facilities. We believe labor shortages across the industry in both rail and truck networks and at customer warehouses are at the core of the supply-chain fluidity challenges limiting our asset utilization and capacity. Despite these volume-related challenges, revenue increased by 17%, driven by a 24% increase in revenue per load resulting from a combination of mix, customer rates, and fuel surcharge revenue, partially offset by the volume decline. Revenue per load, excluding fuel surcharge revenue, increased 18% year over year.
Operating income increased by 52% year over year primarily from higher customer rate and cost recovery efforts compared to the prior year period. Rate and cost recovery efforts were partially offset by higher rail and third-party dray purchased transportation costs, increases in driver wages, benefits and recruiting costs, and activity-based costs to accommodate network inefficiencies. Higher non-driver personnel, group medical and equipment costs also offset higher revenue per load. The current period ended with 102,230 units of trailing capacity and 6,017 power units in the dray fleet.
Dedicated Contract Services (DCS)
DCS revenue increased 20% during the current quarter over the same period in 2020. Productivity, defined as revenue per truck per week, was up 7% versus the prior period. Productivity, excluding fuel surcharge revenue, increased 3% versus the prior period. A net additional 1,527 revenue producing trucks were in the fleet by the end of the quarter compared to the prior year period, and a net additional 744 versus the end of the second quarter 2021. Customer retention rates remain above 98%.
Operating income decreased 3% from the prior year quarter. Benefits from higher revenue and increased productivity of assets were more than offset by increases in driver wage and recruiting costs, non-driver personnel salary, wages and incentive compensation, and other costs related to the implementation of new, long-term contractual business.
Integrated Capacity Solutions (ICS)
ICS revenue increased 55% in the current quarter versus the third quarter 2020. Segment volumes increased 4% in the quarter while truckload volumes increased 14% from the prior year period. Revenue per load increased 48%. In addition to customer freight mix, revenue per load was favorably impacted by higher contractual and spot rates in our truckload business as compared to the third quarter 2020. Contractual volumes represented approximately 54% of the total load volume and 41% of the total revenue in the current quarter compared to 58% and 38%, respectively, in third quarter 2020. Of the total reported ICS revenue, approximately $397 million was executed through the Marketplace for J.B. Hunt 360 compared to $291 million in third quarter 2020.
Operating income increased to $14.7 million compared to an operating loss of $18.3 million in the third quarter 2020. Gross profit margins increased to 12.0% in the current period versus 7.6% in the prior period. Benefits from higher gross margin were partially offset by higher personnel and technology costs compared to the same period 2020. ICS carrier base increased 35% versus the third quarter 2020.
Final Mile Services (FMS)
FMS revenue increased 13% compared to the same period 2020. Stop count within FMS decreased 3% during the current quarter versus a year ago. The addition of multiple new customer contracts implemented over the last year were more than offset by the reduction in stops for several customers related to labor and supply-chain constraints. Productivity, defined as revenue per stop, increased approximately 17% compared to the prior year period primarily from a shift in customer mix of business, in addition to the implementation of higher rates.
Operating income decreased 39% over the prior year quarter primarily from implementation costs related to new long-term contractual business, higher third-party contract carrier costs, and lower volumes with certain customers related to product availability as a result of supply-chain disruptions. Higher personnel expense related to salary, wages and incentive compensation and group medical costs also contributed to the decline in operating income.
Truckload (JBT)
JBT revenue increased 87% from the same period in 2020. Revenue excluding fuel surcharge revenue increased 85%, primarily from a 65% increase in revenue per load excluding fuel surcharge revenue and a 12% increase in load count compared to a year ago. The increase in revenue per load excluding fuel surcharge revenue was driven by a 36% increase in revenue per loaded mile excluding fuel surcharge revenue and a 20% increase in average length of haul. Load count growth and the length of haul increase were primarily related to the continued expansion of J.B. Hunt 360box® which leverages the J.B. Hunt 360 platform to access drop-trailer capacity for customers across our transportation network. Comparable contractual customer rates were up approximately 29% compared to the same period 2020. The current period ended with 9,906 trailers and 1,965 tractors, compared to 8,245 and 1,713 respectively for the prior year period.
Operating income increased to $14.7 million compared $2.9 million in the third quarter 2020. Benefits from increased load counts and revenue per load were partially offset by increases in purchased transportation expense, higher driver wages and recruiting costs, higher non-driver personnel expense related to salary, wages and incentive compensation, and increases in group medical costs. Further investments in both personnel and technology related to the continued expansion of 360box also partially offset higher revenue.
Cash Flow and Capitalization:
At September 30, 2021, we had a total of $1.3 billion outstanding on various debt instruments which is comparable to total debt levels at September 30, 2020 and December 31, 2020.
Our net capital expenditures for the nine months ended September 30, 2021, approximated $511 million compared to $449 million for the same period 2020. At September 30, 2021, we had cash and cash equivalents of approximately $530 million.
In the third quarter 2021, we purchased approximately 286,000 shares of our common stock for approximately $50 million. At September 30, 2021, we had approximately $366 million remaining under our share repurchase authorization. Actual shares outstanding on September 30, 2021, approximated 105.0 million.
Conference Call Information:
The Company will hold a conference call today at 9:00–10:00 am CDT to discuss the quarterly earnings. To participate in the call, dial 1-833-397-0851 (domestic) or 516-575-8759 (international) 15 minutes prior to the start of the call and provide the following conference ID: 1065188. A replay of the call will be posted on the investor relations section of our website here later today.
Forward-Looking Statements:
This press release may contain forward-looking statements, which are based on information currently available. Actual results may differ materially from those currently anticipated due to a number of factors, including, but not limited to, those discussed in Item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2020 and Quarterly Report filed on Form 10-Q for the period ended June 30, 2021. We assume no obligation to update any forward-looking statement to the extent we become aware that it will not be achieved for any reason. This press release and additional information will be available to interested parties on our website, www.jbhunt.com.
About J.B. Hunt
J.B. Hunt Transport Services, Inc., an S&P 500 company, provides innovative supply chain solutions for a variety of customers throughout North America. Utilizing an integrated, multimodal approach, the company applies technology driven methods to create the best solution for each customer, adding efficiency, flexibility, and value to their operations. J.B. Hunt services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, final mile, and more. J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average. J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT. For more information, visit www.jbhunt.com.
| J.B. HUNT TRANSPORT SERVICES, INC. | ||||||||||||
| Condensed Consolidated Statements of Earnings | ||||||||||||
| (in thousands, except per share data) | ||||||||||||
| (unaudited) | ||||||||||||
| Three Months Ended September 30 | ||||||||||||
2021 |
2020 |
|||||||||||
| % Of | % Of | |||||||||||
| Amount | Revenue | Amount | Revenue | |||||||||
| Operating revenues, excluding fuel surcharge revenues | $ | 2,813,939 |
|
$ | 2,296,053 |
|
||||||
| Fuel surcharge revenues | 330,873 |
|
176,470 |
|
||||||||
| Total operating revenues | 3,144,812 |
|
100.0 |
% |
2,472,523 |
|
100.0 |
% |
||||
| Operating expenses | ||||||||||||
| Rents and purchased transportation | 1,667,236 |
|
53.0 |
% |
1,297,333 |
|
52.5 |
% |
||||
| Salaries, wages and employee benefits | 711,694 |
|
22.6 |
% |
594,162 |
|
24.0 |
% |
||||
| Depreciation and amortization | 138,923 |
|
4.4 |
% |
132,392 |
|
5.4 |
% |
||||
| Fuel and fuel taxes | 139,155 |
|
4.4 |
% |
87,350 |
|
3.5 |
% |
||||
| Operating supplies and expenses | 98,541 |
|
3.1 |
% |
86,103 |
|
3.5 |
% |
||||
| General and administrative expenses, net of asset dispositions | 50,266 |
|
1.7 |
% |
41,894 |
|
1.6 |
% |
||||
| Insurance and claims | 41,254 |
|
1.3 |
% |
35,412 |
|
1.4 |
% |
||||
| Operating taxes and licenses | 15,464 |
|
0.5 |
% |
13,696 |
|
0.6 |
% |
||||
| Communication and utilities | 8,450 |
|
0.3 |
% |
8,678 |
|
0.4 |
% |
||||
| Total operating expenses | 2,870,983 |
|
91.3 |
% |
2,297,020 |
|
92.9 |
% |
||||
| Operating income | 273,829 |
|
8.7 |
% |
175,503 |
|
7.1 |
% |
||||
| Net interest expense | 11,977 |
|
0.4 |
% |
11,895 |
|
0.5 |
% |
||||
| Earnings before income taxes | 261,852 |
|
8.3 |
% |
163,608 |
|
6.6 |
% |
||||
| Income taxes | 62,023 |
|
1.9 |
% |
38,112 |
|
1.5 |
% |
||||
| Net earnings | $ | 199,829 |
|
6.4 |
% |
$ | 125,496 |
|
5.1 |
% |
||
| Average diluted shares outstanding | 106,436 |
|
106,798 |
|
||||||||
| Diluted earnings per share | $ | 1.88 |
|
$ | 1.18 |
|
||||||
| J.B. HUNT TRANSPORT SERVICES, INC. | ||||||||||||
| Condensed Consolidated Statements of Earnings | ||||||||||||
| (in thousands, except per share data) | ||||||||||||
| (unaudited) | ||||||||||||
| Nine Months Ended September 30 | ||||||||||||
2021 |
2020 |
|||||||||||
| % Of | % Of | |||||||||||
| Amount | Revenue | Amount | Revenue | |||||||||
| Operating revenues, excluding fuel surcharge revenues | $ | 7,808,954 |
|
$ | 6,327,876 |
|
||||||
| Fuel surcharge revenues | 862,377 |
|
571,045 |
|
||||||||
| Total operating revenues | 8,671,331 |
|
100.0 |
% |
6,898,921 |
|
100.0 |
% |
||||
| Operating expenses | ||||||||||||
| Rents and purchased transportation | 4,557,770 |
|
52.6 |
% |
3,467,782 |
|
50.3 |
% |
||||
| Salaries, wages and employee benefits | 1,997,196 |
|
23.0 |
% |
1,722,548 |
|
25.0 |
% |
||||
| Depreciation and amortization | 415,839 |
|
4.8 |
% |
392,786 |
|
5.7 |
% |
||||
| Fuel and fuel taxes | 379,036 |
|
4.4 |
% |
263,932 |
|
3.8 |
% |
||||
| Operating supplies and expenses | 271,257 |
|
3.1 |
% |
250,835 |
|
3.6 |
% |
||||
| General and administrative expenses, net of asset dispositions | 142,662 |
|
1.7 |
% |
131,654 |
|
1.9 |
% |
||||
| Insurance and claims | 114,792 |
|
1.3 |
% |
98,672 |
|
1.4 |
% |
||||
| Operating taxes and licenses | 43,488 |
|
0.5 |
% |
40,575 |
|
0.6 |
% |
||||
| Communication and utilities | 26,264 |
|
0.3 |
% |
24,710 |
|
0.4 |
% |
||||
| Total operating expenses | 7,948,304 |
|
91.7 |
% |
6,393,494 |
|
92.7 |
% |
||||
| Operating income | 723,027 |
|
8.3 |
% |
505,427 |
|
7.3 |
% |
||||
| Net interest expense | 36,061 |
|
0.4 |
% |
36,749 |
|
0.5 |
% |
||||
| Earnings before income taxes | 686,966 |
|
7.9 |
% |
468,678 |
|
6.8 |
% |
||||
| Income taxes | 168,369 |
|
1.9 |
% |
116,650 |
|
1.7 |
% |
||||
| Net earnings | $ | 518,597 |
|
6.0 |
% |
$ | 352,028 |
|
5.1 |
% |
||
| Average diluted shares outstanding | 106,688 |
|
106,776 |
|
||||||||
| Diluted earnings per share | $ | 4.86 |
|
$ | 3.30 |
|
||||||
| Financial Information By Segment | ||||||||||||
| (in thousands) | ||||||||||||
| (unaudited) | ||||||||||||
| Three Months Ended September 30 | ||||||||||||
2021 |
2020 |
|||||||||||
| % Of | % Of | |||||||||||
| Amount | Total | Amount | Total | |||||||||
| Revenue | ||||||||||||
| Intermodal | $ | 1,412,806 |
|
45 |
% |
$ | 1,211,183 |
|
49 |
% |
||
| Dedicated | 664,766 |
|
21 |
% |
552,948 |
|
22 |
% |
||||
| Integrated Capacity Solutions | 666,217 |
|
21 |
% |
431,144 |
|
18 |
% |
||||
| Final Mile Services | 205,908 |
|
7 |
% |
182,091 |
|
7 |
% |
||||
| Truckload | 203,607 |
|
6 |
% |
109,113 |
|
5 |
% |
||||
| Subtotal | 3,153,304 |
|
100 |
% |
2,486,479 |
|
101 |
% |
||||
| Intersegment eliminations | (8,492 |
) |
(0 |
%) |
(13,956 |
) |
(1 |
%) |
||||
| Consolidated revenue | $ | 3,144,812 |
|
100 |
% |
$ | 2,472,523 |
|
100 |
% |
||
| Operating income | ||||||||||||
| Intermodal | $ | 165,095 |
|
60 |
% |
$ | 108,412 |
|
62 |
% |
||
| Dedicated | 78,138 |
|
29 |
% |
80,431 |
|
46 |
% |
||||
| Integrated Capacity Solutions | 14,748 |
|
5 |
% |
(18,304 |
) |
(11 |
%) |
||||
| Final Mile Services | 1,278 |
|
1 |
% |
2,090 |
|
1 |
% |
||||
| Truckload | 14,664 |
|
5 |
% |
2,948 |
|
2 |
% |
||||
| Other (1) | (94 |
) |
(0 |
%) |
(74 |
) |
(0 |
%) |
||||
| Operating income | $ | 273,829 |
|
100 |
% |
$ | 175,503 |
|
100 |
% |
||
| Nine Months Ended September 30 | ||||||||||||
2021 |
2020 |
|||||||||||
| % Of | % Of | |||||||||||
| Amount | Total | Amount | Total | |||||||||
| Revenue | ||||||||||||
| Intermodal | $ | 3,879,338 |
|
45 |
% |
$ | 3,426,008 |
|
50 |
% |
||
| Dedicated | 1,865,903 |
|
21 |
% |
1,627,852 |
|
24 |
% |
||||
| Integrated Capacity Solutions | 1,798,778 |
|
21 |
% |
1,070,905 |
|
15 |
% |
||||
| Final Mile Services | 620,056 |
|
7 |
% |
475,270 |
|
7 |
% |
||||
| Truckload | 536,772 |
|
6 |
% |
322,336 |
|
4 |
% |
||||
| Subtotal | 8,700,847 |
|
100 |
% |
6,922,371 |
|
100 |
% |
||||
| Intersegment eliminations | (29,516 |
) |
(0 |
%) |
(23,450 |
) |
(0 |
%) |
||||
| Consolidated revenue | $ | 8,671,331 |
|
100 |
% |
$ | 6,898,921 |
|
100 |
% |
||
| Operating income | ||||||||||||
| Intermodal | $ | 407,203 |
|
56 |
% |
$ | 317,652 |
|
63 |
% |
||
| Dedicated | 231,487 |
|
32 |
% |
236,423 |
|
47 |
% |
||||
| Integrated Capacity Solutions | 25,134 |
|
3 |
% |
(50,274 |
) |
(10 |
%) |
||||
| Final Mile Services | 20,467 |
|
3 |
% |
(6,459 |
) |
(1 |
%) |
||||
| Truckload | 39,033 |
|
6 |
% |
8,207 |
|
1 |
% |
||||
| Other (1) | (297 |
) |
(0 |
%) |
(122 |
) |
(0 |
%) |
||||
| Operating income | $ | 723,027 |
|
100 |
% |
$ | 505,427 |
|
100 |
% |
||
| (1) Includes corporate support activity | ||||||||||||
| Operating Statistics by Segment | ||||||||
| (unaudited) | ||||||||
| Three Months Ended September 30 | ||||||||
2021 |
2020 |
|||||||
| Intermodal | ||||||||
| Loads | 497,603 |
529,709 |
||||||
| Average length of haul | 1,677 |
1,695 |
||||||
| Revenue per load | $ | 2,839 |
$ | 2,287 |
||||
| Average tractors during the period * | 5,956 |
5,546 |
||||||
| Tractors (end of period) * | 6,017 |
5,647 |
||||||
| Trailing equipment (end of period) | 102,230 |
97,439 |
||||||
| Average effective trailing equipment usage | 99,453 |
94,846 |
||||||
| Dedicated | ||||||||
| Loads | 1,027,705 |
940,225 |
||||||
| Average length of haul | 161 |
157 |
||||||
| Revenue per truck per week** | $ | 4,692 |
$ | 4,372 |
||||
| Average trucks during the period*** | 10,887 |
9,697 |
||||||
| Trucks (end of period) *** | 11,250 |
9,723 |
||||||
| Trailing equipment (end of period) | 27,804 |
27,376 |
||||||
| Integrated Capacity Solutions | ||||||||
| Loads | 339,867 |
326,563 |
||||||
| Revenue per load | $ | 1,960 |
$ | 1,320 |
||||
| Gross profit margin | 12.0% |
7.6% |
||||||
| Employee count (end of period) | 954 |
1,037 |
||||||
| Approximate number of third-party carriers (end of period) | 126,700 |
94,200 |
||||||
| Marketplace for J.B. Hunt 360 revenue (millions) | $ | 397.4 |
$ | 291.2 |
||||
| Final Mile Services | ||||||||
| Stops | 1,554,485 |
1,604,694 |
||||||
| Average trucks during the period*** | 1,512 |
1,448 |
||||||
| Truckload | ||||||||
| Loads | 110,430 |
98,505 |
||||||
| Loaded miles (000) | 55,103 |
40,599 |
||||||
| Nonpaid empty mile percentage | 19.6% |
19.2% |
||||||
| Revenue per tractor per week** | $ | 4,715 |
$ | 3,849 |
||||
| Average tractors during the period * | 1,921 |
1,783 |
||||||
| Tractors (end of period) | ||||||||
| Company-owned | 750 |
800 |
||||||
| Independent contractor | 1,215 |
913 |
||||||
| Total tractors | 1,965 |
1,713 |
||||||
| Trailers (end of period) | 9,906 |
8,245 |
||||||
| * Includes company-owned and independent contractor tractors | ||||||||
| ** Using weighted workdays | ||||||||
| *** Includes company-owned, independent contractor, and customer-owned trucks | ||||||||
| Operating Statistics by Segment | ||||||||
| (unaudited) | ||||||||
| Nine Months Ended September 30 | ||||||||
2021 |
2020 |
|||||||
| Intermodal | ||||||||
| Loads | 1,475,570 |
1,494,485 |
||||||
| Average length of haul | 1,681 |
1,683 |
||||||
| Revenue per load | $ | 2,629 |
$ | 2,292 |
||||
| Average tractors during the period * | 5,818 |
5,484 |
||||||
| Tractors (end of period) * | 6,017 |
5,647 |
||||||
| Trailing equipment (end of period) | 102,230 |
97,439 |
||||||
| Average effective trailing equipment usage | 97,422 |
88,262 |
||||||
| Dedicated | ||||||||
| Loads | 2,966,575 |
2,726,455 |
||||||
| Average length of haul | 161 |
160 |
||||||
| Revenue per truck per week** | $ | 4,662 |
$ | 4,316 |
||||
| Average trucks during the period*** | 10,357 |
9,713 |
||||||
| Trucks (end of period) *** | 11,250 |
9,723 |
||||||
| Trailing equipment (end of period) | 27,804 |
27,376 |
||||||
| Integrated Capacity Solutions | ||||||||
| Loads | 962,359 |
896,709 |
||||||
| Revenue per load | $ | 1,869 |
$ | 1,194 |
||||
| Gross profit margin | 11.6% |
9.4% |
||||||
| Employee count (end of period) | 954 |
1,037 |
||||||
| Approximate number of third-party carriers (end of period) | 126,700 |
94,200 |
||||||
| Marketplace for J.B. Hunt 360 revenue (millions) | $ | 1,152.4 |
$ | 755.1 |
||||
| Final Mile Services | ||||||||
| Stops | 4,963,472 |
3,922,318 |
||||||
| Average trucks during the period*** | 1,505 |
1,362 |
||||||
| Truckload | ||||||||
| Loads | 322,030 |
299,297 |
||||||
| Loaded miles (000) | 154,083 |
125,718 |
||||||
| Nonpaid empty mile percentage | 19.2% |
18.9% |
||||||
| Revenue per tractor per week** | $ | 4,567 |
$ | 3,844 |
||||
| Average tractors during the period* | 1,809 |
1,859 |
||||||
| Tractors (end of period) | ||||||||
| Company-owned | 750 |
800 |
||||||
| Independent contractor | 1,215 |
913 |
||||||
| Total tractors | 1,965 |
1,713 |
||||||
| Trailers (end of period) | 9,906 |
8,245 |
||||||
| * Includes company-owned and independent contractor tractors | ||||||||
| ** Using weighted workdays | ||||||||
| *** Includes company-owned, independent contractor, and customer-owned trucks | ||||||||
| J.B. HUNT TRANSPORT SERVICES, INC. | ||||||||
| Condensed Consolidated Balance Sheets | ||||||||
| (in thousands) | ||||||||
| (unaudited) | ||||||||
| September 30, 2021 | December 31, 2020 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 529,595 |
$ | 313,302 |
||||
| Accounts Receivable, net | 1,442,948 |
1,124,403 |
||||||
| Prepaid expenses and other | 292,604 |
404,412 |
||||||
| Total current assets | 2,265,147 |
1,842,117 |
||||||
| Property and equipment | 6,350,141 |
5,908,710 |
||||||
| Less accumulated depreciation | 2,495,557 |
2,219,816 |
||||||
| Net property and equipment | 3,854,584 |
3,688,894 |
||||||
| Other assets, net | 393,459 |
397,337 |
||||||
| $ | 6,513,190 |
$ | 5,928,348 |
|||||
| LIABILITIES & STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Current debt | $ | 354,755 |
$ | - |
||||
| Trade accounts payable | 749,071 |
587,510 |
||||||
| Claims accruals | 288,137 |
276,056 |
||||||
| Accrued payroll | 163,940 |
130,943 |
||||||
| Other accrued expenses | 88,724 |
90,294 |
||||||
| Total current liabilities | 1,644,627 |
1,084,803 |
||||||
| Long-term debt | 944,887 |
1,305,424 |
||||||
| Other long-term liabilities | 270,860 |
245,961 |
||||||
| Deferred income taxes | 730,588 |
692,022 |
||||||
| Stockholders' equity | 2,922,228 |
2,600,138 |
||||||
| $ | 6,513,190 |
$ | 5,928,348 |
|||||
| Supplemental Data | ||||||||
| (unaudited) | ||||||||
| September 30, 2021 | December 31, 2020 | |||||||
| Actual shares outstanding at end of period (000) | 105,014 |
105,654 |
||||||
| Book value per actual share outstanding at end of period | $ | 27.83 |
$ | 24.61 |
||||
| Nine Months Ended September 30 | ||||||||
2021 |
2020 |
|||||||
| Net cash provided by operating activities (000) | $ | 969,849 |
$ | 910,994 |
||||
| Net capital expenditures (000) | $ | 511,075 |
$ | 448,721 |
||||
Brad Delco
Vice President – Finance & Investor Relations
(479) 820-2723
ST. CATHARINES, Ontario--(BUSINESS WIRE)--#earnings--Algoma Central Corporation (TSX:ALC), a leading provider of marine transportation services, today announced that it will report its financial results for the three and nine months ended September 30, 2021, before market open on Wednesday, November 3, 2021.
About Algoma Central
Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes - St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. Since 2010 we have introduced 10 new build vessels to our domestic dry-bulk fleet, with one under construction and expected to arrive in 2024, making us the youngest, most efficient and environmentally sustainable fleet on the Great Lakes. Each new vessel reduces carbon emissions on average by 40% versus the ship replaced. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates a diversified portfolio of dry-bulk fleets serving customers internationally. Algoma truly is Your Marine Carrier of Choice™.
Gregg A. Ruhl
President & CEO
905-687-7890
Peter D. Winkley, CPA, CA
Chief Financial Officer
905-687-7897
Or visit
www.algonet.com or www.sedar.com
RESTON, Va.--(BUSINESS WIRE)--Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), today announced the acquisition of the assets of BTM Engineering, Inc. (“BTM”), a diversified professional services firm based in Louisville, Kentucky. Established in 1980, BTM offers a variety of services including civil and structural engineering, planning, land survey and 3-D scanning, landscape architecture, and cellular infrastructure design.
“The acquisition of BTM is an important next step in our growth plan,” said Gary Bowman, CEO of Bowman. “Mike and his team have built a business with a loyal base of repeat customers that provides a solid foundation on which to grow. The skillset of their experienced professional staff aligns well with the services we offer to our customers nationally, providing considerable opportunities for immediate cross selling and work-sharing.”
“We are all pleased to be joining Bowman,” said Michael Smith, President of BTM. “We are confident that this acquisition will be beneficial to everyone. BTM has a special connection with the Louisville market and our leadership believes Bowman is the right company to entrust our customers and our legacy with moving forward. We all look forward to becoming part of the Bowman team.”
The acquisition, which the Company expects to initially contribute approximately $3.0 million of annual net service billing and be immediately accretive, was financed with a combination of cash, seller financing, and stock.
“This is the third in a series of acquisitions and is the final one that we expect to close prior to our upcoming third quarter earnings call in November,” said Bruce Labovitz, Bowman’s CFO. “The economics of this acquisition are attractive relative to our communicated goals and objectives for M&A. We look forward to providing more detailed information on this transaction and our pipeline of acquisition opportunities in connection with our upcoming quarterly conference call.”
About BTM Engineering, Inc.
BTM Engineering, Inc. was founded in 1980 as Daugherty & Trautwein, Inc. and has continuously served the Louisville, Kentucky region with diverse development and engineering services. The firm has played a significant role in several large-scale projects. The professional staff includes civil, structural, transportation and telecommunications engineers, land surveyors, landscape architects and land planning and zoning specialists. The BTM team is committed to providing clients with high quality design services that result in cost effective, buildable projects. More information on BTM Engineering can be found at www.btmeng.com.
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is an engineering services firm delivering innovative infrastructure solutions to customers who own, develop, and maintain the built environment. With 850 employees and more than 30 offices throughout the United Sates, Bowman provides a variety of planning, engineering, construction management, commissioning, environmental consulting, geomatics, survey, land procurement and other technical services to customers operating in a diverse set of regulated end markets. On May 11, 2021, Bowman completed its $51.7 million initial public offering and began trading on the Nasdaq under the symbol BWMN. For more information, visit www.bowman.com.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.
Investor Relations
Bruce Labovitz
This email address is being protected from spambots. You need JavaScript enabled to view it.
(703) 787-3403
Megan McGrath
This email address is being protected from spambots. You need JavaScript enabled to view it.
(310) 622-8248
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (“Northern” or the “Company”) announced today that it plans to issue its earnings release with respect to third quarter 2021 financial and operating results on Friday, November 5, 2021, before the market opens. Additionally, the Company will host a conference call on Friday, November 5, 2021, at 10:00 a.m. Central Time.
Those wishing to listen to the conference call may do so via phone or the Company’s webcast.
| Conference Call and Webcast Details: | |
Date: |
November 5, 2021 |
Time: |
10:00 a.m. Central Time |
Dial-In: |
(866) 373-3407 |
International Dial-In: |
(412) 902-1037 |
Conference ID: |
13723773 |
Webcast: |
|
Replay Information: |
|
A replay of the conference call will be available through November 12, 2021 by dialing: |
|
Dial-In: |
(877) 660-6853 |
International Dial-In: |
(201) 612-7415 |
Conference ID: |
13723773 |
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States.
More information about Northern Oil and Gas, Inc. can be found at www.NorthernOil.com.
Mike Kelly, CFA
Chief Strategy Officer
(952) 476-9800
This email address is being protected from spambots. You need JavaScript enabled to view it.
Integrated solutions to accelerate development of Turkey’s largest gas reserve
HOUSTON--(BUSINESS WIRE)--Regulatory News:
Schlumberger announced today a significant contract award by Turkish Petroleum (TP) for the engineering, procurement, construction and installation (EPCI) of end-to-end production solutions for the Sakarya gas field, Turkey’s largest gas reserve. The contract is awarded to Schlumberger and Subsea 7, as part of a consortium.
The integrated project scope will cover subsurface solutions to onshore production, including well completions, subsea production systems (SPS), subsea umbilicals, risers, flowlines (SURF), and an early production facility (EPF).
Schlumberger will deliver the well completions scope and the design, construction, and commissioning of the early production facility capable of handling up to 350 MMscfd of gas. The SPS and SURF scope will be delivered by OneSubsea®, the subsea technologies, production, and processing systems division of Schlumberger, and Subsea 7.
“Schlumberger is uniquely positioned to integrate solutions from the subsurface to the processing facility, and deliver pipeline-ready gas,” said Donald Ross, president, Production Systems, Schlumberger. “This end-to-end production solutions contract award demonstrates the confidence placed in our ability to accelerate discovery to first gas and enhance value creation for TP in the Sakarya offshore gas field. Through open collaboration and by leveraging innovative production solutions, Schlumberger will drive local content value creation and remains committed to supporting Turkey’s energy sector.”
The Sakarya offshore greenfield represents the largest gas reserve ever discovered in Turkey. The subsea development will be located approximately 100 nautical miles into the Black Sea.
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, certain technologies. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from the strategies, initiatives or partnerships of Schlumberger and Subsea 7; and other risks and uncertainties detailed in Schlumberger’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in these forward-looking statements. Statements in this press release are made as of the date of this release, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise.
Media
Giles Powell – Director of Corporate Communication, Schlumberger Limited
Tel: +1 (713) 375-3494
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) (the Trust) announced today that it will distribute to unitholders a cash distribution totaling $29,304 for the quarter ended September 30, 2021.
Unitholders of record on October 29, 2021 will receive a cash distribution of $0.000127 per unit payable on November 12, 2021.
Natural gas (Mcf) sales volumes, average sales price and net cash proceeds available for distribution for the quarter ended September 30, 2021 are set forth in the table below:
Natural gas (Mcf) sales volumes (a) |
52,667 |
|
||
Natural gas (per Mcf) average sales price |
$ |
3.01 |
|
|
Gross proceeds |
$ |
158,507 |
|
|
Post-production costs and specified taxes |
(23,876) |
|
||
Royalty income |
134,631 |
|
||
Interest and dividend income |
8 |
|
||
Administrative expenses |
(105,335) |
|
||
Income in excess of administrative expenses |
29,304 |
|
||
Cash proceeds available for distribution |
$ |
29,304 |
|
|
(a) Attributable to the onshore Highlander subject interest which is the only subject interest with commercial production.
About Gulf Coast Ultra Deep Royalty Trust. The Trust is a Delaware statutory trust created to hold a 5% gross overriding royalty interest in future production from specified Inboard Lower Tertiary/Cretaceous exploration prospects located in the shallow waters of the Gulf of Mexico and onshore in South Louisiana that existed as of December 5, 2012, which are collectively referred to as subject interests. The subject interests and the Trust’s overriding royalty interests are described in the Trust’s filings with the Securities and Exchange Commission (SEC). As described in the Trust’s SEC filings, future distributions are not guaranteed and will depend on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, post-production costs and specified taxes, and the amount and timing of the Trust’s administrative expenses, among other factors. For additional information on the Trust, please visit http://gultu.q4web.com/home/default.aspx.
Cautionary Statement Regarding Forward-Looking Information. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are all statements other than statements of historical facts, such as any statements regarding the amount and date of quarterly distributions to unitholders. Forward-looking statements are not guarantees or assurances of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that may cause actual results to differ materially from those anticipated by the forward-looking statements include, but are not limited to, the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to a record date for a quarterly cash distribution. Any differences in actual cash receipts by the Trust could affect the amount of quarterly cash distributions. Other important factors that may cause actual results to differ materially include risks inherent in production of oil and gas properties, the ability of commodity purchasers to make payment, the economic effects of the COVID-19 pandemic and federal, state and local governmental actions in response to the pandemic, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC. The Trust's annual, quarterly and other filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov. Statements made in this press release are qualified by the cautionary statements made in this press release. The Trust cautions investors that it does not intend, and assumes no obligation, to update any of the statements included in this press release.
The Bank of New York Mellon Trust Company, N.A. serves as trustee of the Trust. If you have any questions related to the Trust, please see below for contact information:
Gulf Coast Ultra Deep Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
(512) 236-6555
Integrated solutions to accelerate development of Turkey’s largest gas reserve
HOUSTON--(BUSINESS WIRE)--Schlumberger announced today a significant contract award by Turkish Petroleum (TP) for the engineering, procurement, construction and installation (EPCI) of end-to-end production solutions for the Sakarya gas field, Turkey’s largest gas reserve. The contract is awarded to Schlumberger and Subsea 7, as part of a consortium.
The integrated project scope will cover subsurface solutions to onshore production, including well completions, subsea production systems (SPS), subsea umbilicals, risers, flowlines (SURF), and an early production facility (EPF).
Schlumberger will deliver the well completions scope and the design, construction, and commissioning of the early production facility capable of handling up to 350 MMscfd of gas. The SPS and SURF scope will be delivered by OneSubsea®, the subsea technologies, production, and processing systems division of Schlumberger, and Subsea 7.
“Schlumberger is uniquely positioned to integrate solutions from the subsurface to the processing facility, and deliver pipeline-ready gas,” said Donald Ross, president, Production Systems, Schlumberger. “This end-to-end production solutions contract award demonstrates the confidence placed in our ability to accelerate discovery to first gas and enhance value creation for TP in the Sakarya offshore gas field. Through open collaboration and by leveraging innovative production solutions, Schlumberger will drive local content value creation and remains committed to supporting Turkey’s energy sector.”
The Sakarya offshore greenfield represents the largest gas reserve ever discovered in Turkey. The subsea development will be located approximately 100 nautical miles into the Black Sea.
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, certain technologies. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from the strategies, initiatives or partnerships of Schlumberger and Subsea 7; and other risks and uncertainties detailed in Schlumberger’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in these forward-looking statements. Statements in this press release are made as of the date of this release, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise.
Media
Giles Powell – Director of Corporate Communication, Schlumberger Limited
Tel: +1 (713) 375-3494
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
This email address is being protected from spambots. You need JavaScript enabled to view it.
SPRING, Texas--(BUSINESS WIRE)--Southwestern Energy Company (NYSE: SWN) today announced it will host a conference call and live audio webcast on November 4, 2021 to discuss third quarter 2021 financial and operating results. The Company plans to release results on November 3, 2021 after market close, which will be available on SWN’s website at www.swn.com.
Date: |
|
|
November 4, 2021 |
Time: |
|
|
10:00 a.m. CT |
Webcast: |
|
|
|
US/Canada: |
|
|
877-883-0383 |
International: |
|
|
412-902-6506 |
Access code: |
|
|
7695937 |
A replay of the call will also be available until November 11, 2021 at 877-344-7529, International 412-317-0088, or Canada Toll Free 855-669-9658, access code 10161319.
About Southwestern Energy
Southwestern Energy Company (NYSE: SWN) is a leading U.S. producer of natural gas and natural gas liquids focused on responsibly developing large-scale energy assets in the nation’s most prolific shale gas basins. SWN’s returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength and operational execution. For additional information, please visit www.swn.com and www.swn.com/responsibility.
Investor Contacts
Brittany Raiford
Director, Investor Relations
(832) 796-7906
This email address is being protected from spambots. You need JavaScript enabled to view it.
Bernadette Butler
Investor Relations Advisor
(832) 796-6079
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "United States Smart Meter Market: Prospects, Trends Analysis, Market Size and Forecasts up to 2027" report has been added to ResearchAndMarkets.com's offering.
The country research report on the United States smart meter market is a customer intelligence and competitive study of the United States market.
Moreover, the report provides deep insights into demand forecasts, market trends, and, micro and macro indicators in the United States market. Also, factors that are driving and restraining the smart meter market are highlighted in the study. This is an in-depth business intelligence report based on qualitative and quantitative parameters of the market.
Additionally, this report provides readers with market insights and detailed analysis of market segments to possible micro levels. The companies and dealers/distributors profiled in the report include manufacturers & suppliers of smart meter market in the United States.
Highlights of the Report
1) Demand and supply conditions of smart meter market
2) Factor affecting the smart meter market in the short run and the long run
3) The dynamics including drivers, restraints, opportunities, political, socioeconomic factors, and technological factors
4) Key trends and future prospects
5) Leading companies operating in smart meter market and their competitive position in the United States
6) The dealers/distributors profiles provide basic information of top 10 dealers & distributors operating in (United States) smart meter market
7) Matrix: to position the product types
8) Market estimates up to 2027
The report answers questions such as:
1) What is the market size of smart meter market in the United States?
2) What are the factors that affect the growth in smart meter market over the forecast period?
3) What is the competitive position in the United States smart meter market?
4) What are the opportunities in the United States smart meter market?
5) What are the modes of entering the United States smart meter market?
Key Topics Covered:
1. Report Overview
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
2. Executive Summary
3. Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. PEST-Analysis
3.4. Porter's Diamond Model for the United States Smart Meter Market
3.5. Growth Matrix Analysis
3.6. Competitive Landscape in the United States Smart Meter Market
4. United States Smart Meter Market by Type
4.1. Smart Electricity Meter
4.2. Smart Gas Meter
4.3. Smart Water Meter
5. United States Smart Meter Market by Technology
5.1. Automatic Meter Reading (AMR)
5.2. Advanced Metering Infrastructure (AMI)
6. United States Smart Meter Market by Application
6.1. Residential
6.2. Commercial
6.3. Industrial
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/y86f8m
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
TORONTO--(BUSINESS WIRE)--dynaCERT Inc. (TSX VENTURE:DYA) (OTCQX:DYFSF) (FRA:DMJ) ("dynaCERT" or the "Company") announces that its strategic alliance with Mosolf SE & Co. AG ("Mosolf"), first announced by the Company in a news release dated October 16, 2019 (and commented upon in its subsequent Management Discussion & Analysis in 2020 Q1 and Q2), has been terminated. Though discussions pertaining to this strategic alliance continued throughout 2021, the Company has recently recognized the termination of the strategic alliance from Mosolf. The Company's strategic alliance with Mosolf initially included a purchase order for 1,000 HydraGEN™ units, a dealership agreement for Germany and an understanding to negotiate towards a joint venture for the passenger car after-market in Europe. Though the Company enjoyed a positive relationship with the Mosolf group and its principals, the objectives of the initial arrangement have not materialized, as only 48 units out of the 1,000 units under the foregoing purchase order were delivered. As with several other orders received by the Company in late 2019 and early 2020, the COVID-19 pandemic had a significant impact on this relationship, both in terms of access to the potential markets and clients of Mosolf, and in terms of the Company's limitations on production (and availability of inputs) throughout the lockdowns imposed by the Government of Ontario throughout 2020 and into 2021. At the same time, the materiality of this dealership declined in 2020 because the overall number of dealers increased significantly (with dynaCERT now having over 45 dealers globally, seven (7) of which are located and operate in Europe), and because of the increasing relative importance of the Company’s relationship with its other dealers and agents that operate in multiple centres globally. These European dealership arrangements are entered into between the Company's European subsidiary, dynaCERT GmbH Inc. (which operates out of Germany, with a total of five (5) dedicated employees) and cover various European countries, including Germany, Austria, Netherlands and Benelux, Italy, Portugal, Latvia and the Baltics, the UK and Ireland.
The Company notes that the disclosures in this press release are provided to comply with a request by Staff of the Ontario Securities Commission following a continuous disclosure review.
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology 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, resulting in lower carbon emissions and greater fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, refrigerated trailers, off-road construction, power generation, mining and forestry equipment, marine vessels and railroad locomotives. 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. 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.
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
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NUR-SULTAN, Kazakhstan--(BUSINESS WIRE)--The Ministry of Justice has launched a new website to spotlight evidence gathered by the Republic of Kazakhstan regarding the fraud committed by Anatolie and Gabriel Stati: www.kzarbitration.com.
The purpose of the website is to present the facts of the ongoing and complex legal case and provide easy access to the corresponding evidence. This public repository will increase transparency around the case and dispel the disinformation and lies perpetrated by these individuals against the Republic of Kazakhstan and its people.
The evidence - in the form of court rulings, expert opinions, and other publicly available documents - confirms that the Statis have been engaged in a complex and multi-faceted fraud since at least 2006.
The website explains how Anatolie and Gabriel Stati defrauded international investors of their money, falsified financial statements, fraudulently obtained audit opinions and pursued an international arbitration against the Republic of Kazakhstan to recoup from the State the monies the Statis had stolen themselves.
The details of the fraud are exposed in a timeline of events and corroborated by the evidence gathered and presented by the Ministry of Justice.
The background to the fraud, legal case history timeline, documentary evidence against the Statis can be accessed on the website address https://kzarbitration.com which is updated regularly.
Ms. Meruert Bokanova
Press Secretary of the Ministry of Justice of Kazakhstan
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+7 (7172) 74-06-01
VANCOUVER, British Columbia--(BUSINESS WIRE)--EverGen Infrastructure Corp. (TSXV:EVGN) (“EverGen”, or the “Company”), Canada’s Renewable Natural Gas (“RNG”) Infrastructure Platform, announces that it has entered into several agreements to support the ongoing investor relations and capital markets communications activities following the Company’s successful initial public offering.
Appointment of Kelly Castledine, Director of Investor Communications
EverGen recognizes the importance of clear and transparent communication with investors and the broader capital markets and is very pleased to be engaging industry veteran Kelly Castledine as Director of Investor Communications to direct all communications activities for the Company. Kelly is an accomplished certified investor relations professional with over 20 years of experience in investor relations, capital markets, corporate strategy and communications, and was the key driver of an investor relations strategy that contributed to the growth of renewable infrastructure company Algonquin Power & Utilities Corp. from $200 million to $2.5 billion market capitalization in five years.
Concurrently, the Company has updated its investor presentation which is available on its website at the following link https://www.evergeninfra.com/investor-center.
Investor Relations
As part of the its investor relations plan the Company has engaged the following service providers:
Market Maker
Further, to support liquidity and trading of the Company’s shares, EverGen has engaged Integral Wealth Securities Limited (“Integral”) to provide assistance in maintaining an orderly trading market for the common shares of the Company on the TSX Venture Exchange (the "TSX-V"). The market-making service will be undertaken by Integral in compliance with the applicable policies of the TSX-V and other applicable laws. For its services, the Company has agreed to pay Integral a fee of $7,500 per month for a period of three months with the option to renew on a month-to-month basis. The Company and Integral act at arm's length.
None of the above mentioned services providers nor any of its principals currently own any securities, directly or indirectly, of the Company.
The engagements of the above mentioned service providers are subject to the Company making certain filings with the TSX Venture Exchange (the "Exchange") and acceptance by the Exchange.
About EverGen Infrastructure Corp.
EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future, starting on the West Coast. Incorporated in 2020, EverGen is now established to acquire, develop, build, own and operate a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on British Columbia, with continued growth expected across other regions in North America.
For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.
EverGen Investors
Kelly Castledine
416-576-8158
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EverGen Media
Katie Reiach
604.614.5283
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DUBLIN--(BUSINESS WIRE)--The "Global Gas Insulated Switchgear (GIS) Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
The publisher has been monitoring the gas insulated switchgear (GIS) market and it is poised to grow by $8.44 billion during 2021-2025, progressing at a CAGR of 8.07% during the forecast period.
The report on the gas insulated switchgear (GIS) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by growing construction activities and increasing global power demand.
The gas insulated switchgear (GIS) market analysis includes the application segment and geographic landscape. This study identifies the increasing renewable power generation as one of the prime reasons driving the gas insulated switchgear (GIS) market growth during the next few years.
Companies Mentioned
The report on gas insulated switchgear (GIS) market covers the following areas:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Five Forces Analysis
5. Market Segmentation by Application
6. Customer landscape
7. Geographic Landscape
8. Vendor Landscape
9. Vendor Analysis
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ays5a
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
CALGARY, Alberta--(BUSINESS WIRE)--(TSE:IMO, NYSE American: IMO) Brad Corson, chairman, president and chief executive officer, and Dave Hughes, vice-president investor relations, Imperial Oil Limited, will host a 2021 Third Quarter Earnings Call on Friday, October 29, following the company’s third quarter earnings release that morning. The event begins at 9 a.m. MT and will be accessible by webcast.
During the call, Mr. Corson will offer brief remarks prior to taking questions from Imperial’s covering analysts.
Please click here [https://edge.media-server.com/mmc/p/kx6ykscr] to register for the live webcast. The webcast will be available for one year on the company’s website at www.imperialoil.ca/en-ca/company/investors.
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.
Investor relations
(587) 476-4743
Media relations
(587) 476-7010
SAN JOSE, Calif.--(BUSINESS WIRE)--QuantumScape Corporation (NYSE: QS), a leader in the development of next-generation solid-state lithium-metal batteries for electric vehicles, today announced it will release 2021 third quarter financial results after market close on Tuesday, October 26, 2021. This will be followed by a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Participating on the call will be Jagdeep Singh, co-founder and chief executive officer, and Kevin Hettrich, chief financial officer, of QuantumScape.
Starting today, October 15, retail and institutional shareholders can submit and upvote questions they would like addressed on the earnings call. QuantumScape management will respond to a selection of the most upvoted questions. To submit questions, please visit the Say online platform; shareholders at brokers with Say can participate directly in their investing app or broker website. We will accept questions on the Q&A platform until Friday, October 22, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).
The earnings call will be accessible live via a webcast on QuantumScape’s IR Events Calendar page. An archive of the webcast will be available shortly after the call for 12 months.
About QuantumScape Corporation
QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. The company is on a mission is to revolutionize energy storage to enable a sustainable future. For more information, please visit www.quantumscape.com.
For Investors
John Saager, CFA
Head of Investor Relations
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For Media
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HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) will announce its earnings for the Third Quarter ended September 30, 2021 on November 4, 2021, before the market opens.
Genesis Energy, L.P.’s Third Quarter Earnings Conference Call will be held Thursday, November 4, 2021, at 9:00 a.m. Central time (10:00 a.m. Eastern time). This call can be accessed at www.genesisenergy.com. Choose the Investor Relations button. For those unable to attend the live broadcast, a replay will be available beginning approximately one hour after the event.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, marine transportation and onshore facilities and transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
FRAMINGHAM, Mass.--(BUSINESS WIRE)--#cleanenergy--Ameresco, Inc. (NYSE:AMRC), a leading clean technology integrator specializing in energy efficiency and renewable energy, today announced that it will release its third quarter 2021 financial results after the close of the market on Monday, November 1, 2021. The earnings press release will be available on the “Investor Relations” section of the Company’s website at www.ameresco.com. The Company will host an earnings conference call at 4:30 p.m. ET the same day.
In conjunction with its earnings conference call and press release, the Company will provide supplemental information concerning the financial results. The supplemental information on a Current Report on Form 8-K will be posted to the “Investor Relations” section of the Company's website.
Participants may access the earnings conference call by dialing domestically +1 (877) 359-9508 or internationally +1 (224) 357-2393. The passcode is 9934159. Participants are advised to dial into the call at least ten minutes prior to register. A live, listen-only webcast of the conference call will also be available over the Internet. Individuals wishing to listen can access the call through the “Investor Relations” section of the Company’s website at www.ameresco.com. If you are unable to listen to the live call, an archived webcast will be available on the Company’s website for one year.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
Media Relations
Leila Dillon, 508.661.2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations
Eric Prouty, Advisiry Partners, 212.750.5800, This email address is being protected from spambots. You need JavaScript enabled to view it.
Lynn Morgen, Advisiry Partners, 212.750.5800, This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Tidewater Inc. (NYSE: TDW) (the “Company”) today announced that it has finalized the terms of the Company’s offering of USD $175 million in senior secured bonds in the Nordic bond market. The bonds will mature in November 2026 and bear interest at 8.5% per annum. The Company anticipates that consummation of the offering will occur on November 16, 2021, subject to customary closing conditions. The Company intends to use the net proceeds from the bond issue towards the refinancing of the Company’s outstanding debt and for general corporate purposes. An application will be made for the bonds to be listed on the Nordic ABM.
The bonds were privately placed in the United States in accordance with U.S. securities laws and sold outside the United States pursuant to Regulation S under the Securities Act of 1933.
The bonds have not been registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and applicable state laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the bonds or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act of 1933.
About Tidewater
Tidewater owns and operates one of the largest fleets of offshore support vessels in the industry, with more than 65 years of experience supporting offshore energy exploration, production, generation and offshore wind activities worldwide.
Forward-Looking Statements
In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Tidewater notes that certain statements set forth in this press release contain certain forward-looking statements which reflect our current view with respect to future events and future financial performance. Forward-looking statements are all statements other than statements of historical fact. All such forward-looking statements are subject to risks and uncertainties, many of which are beyond the control of the Company, and our future results of operations could differ materially from our historical results or current expectations reflected by such forward-looking statements. Investors should carefully consider the risk factors described in detail in the Company’s most recent Form 10-K, most recent Form 10-Q, and in similar sections of other filings made by the Company with the SEC from time to time. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this press release to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports filed by the Company with the SEC.
Tidewater Inc.
West Gotcher
Vice President,
Finance and Investor Relations
+1.713.470.5285
Winners announced in London, UK
BOSTON--(BUSINESS WIRE)--Boston Metal won the New Technology for the Metals and Mining Industry award at the 2021 S&P Global Platts Global Metals Awards.
Boston Metal is commercializing ground-breaking technology to decarbonize primary steelmaking. The company’s technology combines patented innovations with best practices from the aluminum and steel industries to deliver a revolutionary solution to the carbon emissions challenge facing the steel value chain. Powered by renewable electricity, molten oxide electrolysis converts iron ore into liquid metal and oxygen. The modular, scalable platform produces no CO2 emissions, is highly energy efficient, and works with a wide range of iron ore grades.
“We congratulate all the winners and finalists for persevering through unique challenges and continuing to drive performance while embracing change,” said Saugata Saha, president of S&P Global Platts.
Dave Ernsberger, Global Head of Pricing and Market Insight, S&P Global Platts, said: “Not surprisingly, but certainly encouraging, is the industry’s increasing prioritization of innovation for a lower-carbon future, which was evident in the nominations and focus of Awards category participation in this year’s Global Metals Awards.”
“We are honored to be recognized by such a highly regarded organization and to be selected by a world-class panel of independent judges,” said Tadeu Carneiro, Chairman and CEO of Boston Metal. He added: “It’s been a big week for us. Besides being named a S&P Global Platts Global Metals Award winner, we welcomed Stephan Broek to the team as SVP of Technology. With his vast experience in both aluminum and steelmaking, together with his keen understanding of technical processes and project planning, Stephan is uniquely positioned to lead our technology development efforts as we continue our journey to deliver a future where steel production is free of carbon emissions.”
For full details of the 2021 winners and judges’ rationale, access the S&P Global Platts Insight Magazine.
About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We’re the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.
About Boston Metal
Boston Metal is a global metals technology solutions company that is commercializing molten oxide electrolysis (MOE), a patented tonnage metals production platform. MOE provides the metals industry with a more efficient, lower cost, and greener solution for the production of a range of metals and alloys from a wide variety of feedstocks. Learn more at www.bostonmetal.com.
Dawn Kelly
Communications
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+1 (412) 298-6998
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