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[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
You calling on gross margin or just --[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hey guys. I'll offer my congratulations as well. And I apologize that my call dropped during the Q&A. So I apologize if somebody else asked the question, but Mohan, you talked about a strong outlook for the LoRa business in fiscal '22, really starting to hit the mainstream and a 40% longer term five-year CAGR. Wondering if there is any reason to think that the growth in fiscal '22 for LoRa would be wildly off that 40% year-on-year rates implied by the longer term CAGR you're looking at?[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Like, we said it's hard to model though. Sorry about that.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Good morning, Jeremy.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hey, David. Are you there?[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Rex, why don't you answer it?[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
And on the Legal, Lexis plus, as you know was launched last year, has been very well received by our customers. We continue to roll it out and almost all new customers up for Lexis plus, and I would say that when we have renewal conversations. The majority of our customers will renew lsof [Phonetic] for Lexis plus. And as we've said that's an integrated offering that integrates different types of analytical tools from different content set. And when the customer opt for that, they often use it so that they had increased access to and more usage of these different tools that are now integrated in a more easy to use way. And I do believe that the customer feedback and the success of that is a contributing factor, a significant contributing factor to the improvement that we've seen in new sales and therefore what we perceive as an improvement in the underlying growth trajectory of.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
You know, I'll tell you that, it's interesting. Our PROs are very focused and very disciplined in their underwrite sourcing and underwriting transactions. But we are absolutely, I would say, not restricted in our acquisition strategy. I guess, it's also worth pointing out here is, you know, we're probably 45% now corporate owned, managed stores. So well, I mean, they're all 100% owned by NSA, of course, but our corporate team is a much bigger part of the pie these days.
So in the event that we're looking at, let's just say a portfolio that crosses over markets where we operate and our PROs operate for us. If a PRO takes a pass on a deal, for one reason or another, let's say they start to get priced out because of cap rates, we have the opportunity to go forward with the transaction on balance sheet with our corporate team. So that's sort of how we look at it. We don't feel like we're getting boxed out a deal, really ever. So we feel pretty good about that part.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes, we will.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Sure.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Joanna, I'll try to do that. As you think about market share and really trying to tie back to CDC accurate data, it's really difficult to do it in real-time. So we have to do it based upon our ability to get information in certain markets. And I have a couple of observations to make you feel better about that.
And again, my example was just saying, I think, we can achieve those goals even without market share. And I'm with you, I think we've gained a little bit, particularly in the markets where we had scale. So where you saw big cities that were impacted dramatically by COVID, we experienced, for sure, surges in market share and touching customers and helping them at very, very challenging times when you think about the New Yorks and the L.As. and the places like that.
The other thing that's interesting we track, as you know, funeral volume by at-need and then preneed turning at me. So as you think about those two buckets, the thing we've been experiencing over the last couple of quarters and more acutely in the first quarter this year, I think our at-need walk in, and just forgive me I'm speaking from memory, was up 24%, and our preneed backlog change was 16%. So there was a noticeable difference of more customers coming in that above and beyond what we're seeing our backlog that normally tells me that you're out there performing for customers that probably would not have come to you when you think about the radius that we draw from. So I feel really good.
I think we definitely believe in certain markets, we've gained share. I can't say that across the nation. We surely have created a lot more visibility. And I think based upon our Google star reviews and the like, I think we have an opinion that we have a very favorable impression in the communities where we operate.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Great. Thanks and congrats on the quarter. First question is just on the guidance raise, the $20 million in higher sales, and the drop-down of $10 million on EBITDA. It's a little bit higher than how we tend to think of incrementals.
So you talked about some of the drivers here, but do you think that there's been a change in how we should think about the drop-down moving forward?[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thanks very much, operator. Hi, gentlemen. Thanks for the time. I just have two questions. One is on the MAX. Have you heard any comments from your customers about acceptance of that aircraft? Has there been any pushback or have you heard anything about that?[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
So the software, what we've been calling software-only, which is the transition of customers from hardware appliances to costs or to just buying software from us for the quarter was about 32%. It was 40% in Q1 of last year, which was predominantly due to the financials and government dynamics this quarter versus last quarter. And last year, for the full fiscal year, we ended the software-only portion at about 34%.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes. Thank you and best of luck, Bernard; and congrats, Hassane, on the new role.
Hassane, a question on the 300-millimeter, the transition that's been undergoing for a couple of years. Any thoughts on how that progress is happening? And what are your thoughts on that transition to 300-millimeter? Are there steps that you want to try to accelerate that transition? And what would they be?[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
We do. I think the -- on the product side, on the input cost side, I think we've been able to manage that pretty well, especially for the spring season, Jim, in that first half of the year. So good visibility to that. Obviously, the challenges and some of the cost pressures are coming more from the logistics side on distribution side of the supply chain, where we've seen pretty tremendous increases in freight rates, both inbound and outbound. So we're -- I think that's a cost pressure that we factored in as we start to plan our spring business and think about 2022. But on the input cost side or the product cost side, it's been managed very well.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hi, good morning. I know you talked a little bit on the Tocqueville strategies and having a positive monthly net sales. Just wondering if there's additional color you can provide in terms of thoughts on the momentum of that potential pipeline to increase the sales more.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Well, it's simply a matter of a prioritization, right. We've got a set of resources that we are working on building out the front end, and we want to add Hubs into it. We want to add the legacy business into it. Remember that when we launched 2.0 that was scoped to not include Sheet Metal at the time, right. So we've launched with our first our three services. Sheet Metal is always going to follow on and it's -- that's still in the plan.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hi, good evening and happy new year to all of you. I had a question, it's a little theoretical. So if you look at the pandemic, I think incrementally clients are having more work being done offshore. And what do you think in terms of by when they possibly reach country risk thresholds or any such thing? And would you think that this is here to stay? Or there's likely to be a reverse shift on-site at some point? So that was my question. Thank you.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Just -- Alex, just to further clarify the bigger 5 nanometer stuff will hit next year though.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Okay. So I'm going to start with a couple of things and then I'm sure that Katie and Fabrice will chime in. So with respect to the store closings, you are right, we have done a lot this past year, but there is more to come. And when you look at our network, there are many locations that we see within the next four years that we may even improve over what we currently have based on what we think those locations can command considering the new environment. And we have been successful in negotiating grants when they became due. So some of that is embedded in the numbers that you see or in our expectations.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes. So thanks, Mig. So with regard to receivables, I'd say if we went back to year-end 2019, we had a perfect storm on collections. Everything kind of fell into place.
I would say, better than normal. And I think that in 2020, at the end of the year, we were just pretty much average when it came to our collections. So it's just a matter of -- it is a pure matter of timing. It's not a matter of uncertainty, which is the good news.
So we'll collect most of that money in January. With regard to what I'll say is the inventory and the seasonality, as Aaron did mention, in the first half of the year, we do grow inventories as part of our seasonal trend for the construction season that takes place in the spring. So there will be an increase there. I'd say that receivables are going to be less impacted.
It's more just an inventory. However, looking at 2021, I go back to say that we are targeting positive CFOA, which will be generated through mostly our working capital.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
It's about 56% on the direct side and so, our overhead cost now or kind of we've talked about those cost over the long run have been sort of between 20% to 25% of revenue. And so again kind of getting back to the quality of that revenue performance, we were able to move that number back down to lower end of that range. So something will just continue to build on. Those bonuses are kind of split, obviously more heavily to all the direct side, but for management and non-productive labor and meaning drivers, dock workers and our mechanics, those calls we put more on the overhead side. And so there is an element of that bonus that would therefore be split into overhead as well, but the majority of it's going to be on the direct side.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
You described it accurately. It is a process of adding back personnel for that daypart with the view that when you open and you have the transactions to support their labor. But first those have to come on as incremental to another daypart get trained and then moved on the roster. So it's a step function change. We've been 24-hour operation safer or handful locations in our system for 60-plus years. So it is a staffing rigor and scheduling challenge that's familiar to our brand. And so it would not be done by stretching people too far or excess over time. It would be done by filling the roster with regularly filled positions during those dayparts. Near-term, because of staffing challenges, clearly, there are some over challenges for the entire industry, not just Denny's.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Well, thanks, we covered it all. Appreciate everybody's time.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yeah, thanks. Thanks, Geoff. I'll answer the second question first on inclisiran and then ask Sheldon to comment on pricing. So I think, like many of you, we're following development in the space. We, I guess like most folks don't know when the other injectable PCSK9 will launch. I think for longest time we've been suggesting that that will be a competitive factor in the injectable PCSK9 space, but as we've talked about previously, the positioning of our medicines is as oral once-daily therapies that are far more affordable than the injectable therapies more convenient more traditional therapies. If you think about the LDL cholesterol lowering space and again, thinking about how other medications and not only in our therapeutic categories, in diabetes [Phonetic] categories, the philosophy is exhaust all oral options before going to injectable. So we think that is a -- could be a potentially wonderful medicine for patients. It's another win there, but we think it is in that category of injectable PCSK9s, and our medicines are clearly positioned as efficacious tolerable medicines that are oral, convenient, and used before injectable therapies.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yeah. Some of the things that we've done over the years, you know, we talked about this for a while, but promoting that pre-sell and really pushing the pre-sell and we've done a nice job of that and have moved that. And by doing that, we have kind of moved some of that fourth quarter what we have done in the past and this has been done gradually over the years more so into that first quarter. So we have kind of shifted the seasonality, if you will, somewhat on some of that equipment from the fourth quarter to the first quarter and somewhat into the second quarter as well with the pre-sell activity.
So yeah, the first quarter, certainly, this year doesn't appear to be our soft quarter.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thank you, Marc.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes, that's fair.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yeah. Great. Thanks, Mike. Brad, we're ready for the next question.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yeah, let me just make the comment first; we re really pleased with this acquisition that we were able to complete in Q2. It does a couple things for us. Number one, it expands the range of frequencies when we can offer RF solutions, gives us more of a one-stop shop with our defense and aerospace customers. And I mentioned this in the pre-prepared remarks, but there s also a cross selling opportunity here. We have our customers we can walk into now with a new offering of product. So it s pretty positive.
And this we re-our expectation for this acquisition it does tend to be above 50% gross margin. And so I think there are other opportunities for us like this, Bob. And I think it s a matter of the timing of when they happen but as I kind of looked through in the past, it feels like in these markets, the PD markets, there is, at least, I would say bolt-on size acquisitions. It s a pretty target rich environment. It s a matter of finding the stuff that s right for us and that fits with what we re trying to do. But I would anticipate we re going to continue to do these things in the future.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hi, Heidi.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Mark?[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Well, the loans are over five years. So, Round Two is five years, so just factors in over the life of one.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thanks, Hunter. $9 Fare Club definitely had brand recognition and name recognition. However, the Spirit Saver$Club, we feel, as we revamped the overall loyalty program and how all the programs worked together, we thought it was more encompassing of the overall sort of brand value that we give to people. And it's not just about -- the Saver$Club isn't just about getting a fare, it's about saving overall and how the Saver$Club has big benefits to ancillary revenue sales as well for the guests, and that translates into revenue for us.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes, of course, but at the end of the day, until social distancing from a CDC perspective is eliminated, which it isn't, in any of our markets, I'd say for that type of capacity levels, we're probably in that 85% to 90% employee rate, as far as -- as far as hired up. As we get into no six foot distancing, we would have to begin into a little hiring. But again that's normal as we move forward through anything.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thanks for the question. And Bernard, I echo my congrats. Thank you for all the time we spent together. It was great. There is no business like no business. Enjoy your retirement. All the good questions have been asked for the most part. Two quick ones. I guess, first of all, disti revenue has traditionally been maybe in the 50s and we've had two strong quarters now in 63%, 64%. Maybe talk about what you're seeing on the disti side? Are there shortages direct and people are going disti at some of your competitors, for example? What's driving that disti numbers so much higher than typical?[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes. I think what the pandemic did is it kind of put a bright spotlight on where some of the challenges and opportunities, therefore, are for many of our clients. And we are seeing -- actually, I mentioned this in my remarks, we're seeing more take up also on advisory, strategic consulting opportunities because I think everybody is looking at this, one, I got to do it and I got to do it now. But also I want to do this in a thoughtful way not just accessorizing as I mentioned, but really permitting the environment.
One executive said to me, George, we're not just looking to put everything in the cloud. As we look at each piece, and this will take longer for us, but ultimately will be better. We want to look at each discrete element and think about that holistically and make the architecture changes that are necessary. Of course, this drives longer -- larger deals for CGI, but on the other side, drives more value for the client. And as I said, 80% are looking for more value from digitization initiatives.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
I want to thank everyone for joining us today and thank you for staying on a little bit longer with us. I just want to, in closing, tell you that we remain very encouraged about the future of Capri Holdings and our three very prominent brands, Versace, Jimmy Choo and Michael Kors and the ability to grow all three of those in the future.
I'd like to just make one last comment and I'm also very proud of our announcement that came yesterday about the formation of the Capri Holdings Foundation for the advancement of diversity in fashion. Like we are, in the industry, we consider ourselves to be leaders and visionaries and we think this is a great step forward for our industry to be able to support those in underserved communities -- underrepresented, I'm sorry, communities. And we think that we are going to need to do even more to foster our involvement in the ability to create opportunities. So we're very proud of the organization and its commitment to diversity and inclusion. Thank you, all. Stay safe and have a great day.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes, for taking question to answer Tobey, I think we'd all be guessing. I think the important take away from what we're doing in our Readiness & Sustainment segment well as LOGCAP that of course is that we had 15% organic growth. And with actually work happening mostly in the U.S. and a bit internationally, but not really in that Middle East OCO arena. So I think that's really the key takeaway in that segment for this quarter. And once things become clear obviously we'll report back. I'm very upbeat about that segment and really GS in general. And I'm particularly happy the fact that we took a very conservative and prudent approach to that arena as part of our sort of future guidance and our outlook and we've taken away any sort of volatility and our performance as a consequence. So I think we'll report back when things become clear. There are, there is potentially of course upside associated with that as things become clear, but maybe not necessarily so but we will be guessing if we said anything I think I'd rather not guess I'd rather tell you when we know the fact.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yeah, I mean, as we continue to add back and grow parts and service hopefully in Q3, that SG&A will grow as a percentage of that. Like we said, I think we grew about -- the G&A piece grew about 50% sequentially compared to the increase in back end gross profit in Q2 versus Q1. We'd expect that same to continue.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yeah. We've really done the way in which we're doing the dedicated side. And again, there's a couple of moving parts there, and that is one that need to be addressed as we speak. There was those 300 trucks or so that need to be addressed and we will be addressing them, period, as we speak in the next -- anyway, that's happening.
And then you've got about another 300 trucks on top of that, where one, that when the automotive shut down in April, we just went to the customers, and we gave them long-term contracts, but we can talk rates after a year, and that year doesn't happen until the second quarter that we'll be able to go into those customers and ask for a -- to make those right. But we were very grateful in April when they were staying here it is, and we were sitting there saying if it's in the black. If I'm in the black, I'm happy, and that's where we were as automotive was shutting down. And so there's 600 of the trucks, the rest of them are ones that we talk about on a yearly basis.
and what we give on that is not to take advantage of the marketplace, it is the long-term contracts that we get with those customers on three, four, five-year contract agreement, that allows us to go through ups and downs of the cycle. And so that's the way it was in the dedicated.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Stephen this George. So I'll tackle that. As you know, our Chief Digital Officer, Alex Carriles is top notch and well known in the community and I think you've seen him on American Banker and other opportunities to talk about our Coin Checking product. It has taken us almost a year to develop that product with the lawyers of fraud protection that we felt like we needed -- there are actually three different fraud protection systems that go into that product to make it so easy for a consumer to use that. We piloted the program in Arkansas, and we have rolled it out in all the states where we do business in the last 60 days, and I will tell you the acceptance has been extraordinary.
The ultimate result of all of that will be, that all of our customers, whether they're online or whether they come into a branch are going to have a much better account opening experience than they have ever had before. As you know, it only takes a couple of pieces of information and 5 minutes to open an account and I can still remember when I used to open my accounts it was a half a day process. So, we believe that we really have a state-of-the-art product. We think it's going to attract new consumers to Simmons Bank and when you take a look at how we have built our brand and with the consumer groups that we've got, relationships with today and some that we're working on. So, we have PGA sponsorship, we're associated with Fort Worth Stock Show and Rodeo.
We've got tremendous access to several colleges in our footprint so we really are focused on the new consumer group coming to Simmons Bank and we believe that our Coin Checking product is a basis for that success.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes, great. So on the half, what you're seeing overall, you can see strong start in first quarter, and that was led off by the finish to Latin America and an early start to Europe. As we put that on a first half basis, really, what's happening there is you're right, we're going to grow in North America where we're seeing acres return in soybeans and strong, kind of, flattish acres in corn. But we're going to be down overall in Europe on some -- mostly supply constraints in corn. So on balance, it's about flat.
Now on volumes. Now you've mentioned the USDA outlook, and we're watching that very, very carefully. And with our route-to-market approach and kind of that real tight connection right to the acre, we feel like we've put ourselves in a really good spot, that if we do see some acres come back into this market, we're well positioned to capitalize on that.
In terms of price and mix, it's just the flow-through of the different products. In first quarter, the heavy flow-through of the Pioneer brand is really ahead of us in 2Q. So in first quarter, you're kind of seeing some of that other route to market, other channel brands that are flowing through, as well as the effect of both the European and the Latin America flow through.
So I don't know if, Tim, anything else or Dave, anything else you have to add?[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hi Meyer, it's Al. Yeah, sure. Yes, the P&C duration went from 4.5 to 4.9. That's largely driven by with the backup in rates. Here we have an Agency RMBS portfolio. So as you'd imagine with rates backing up, you get slower prepayment speeds and therefore the duration extends a bit. So that's predominant driver of what's -- of that duration pick-up there.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes good morning Vikram Great question. So I think we're really trending -- we're really happy with the performance that we're seeing across the key leading indicators. So obviously, ex some of the nonrecurring stuff that hit in the first quarter, organic revenue kind of in that 4% and really trending toward that mid-single-digit organic revenue growth. Assuming we continue to see the ramp in the top line, that -- just given the strength of the business model, the franchise characteristics should see the margin pick up in the back half of the year. So with regards to some of the investments, still looking at about a $2.5 to $3.5 million of kind of headwinds to adjusted EBITDA from those this year, but looking to kind of scale and improve on the margin performance in the back half. So really kind of targeting the midpoint of the ranges and some margin improvement in the back half of the year.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thank you, Greg.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Dan, you want to answer this one.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thank you, Erica.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thanks.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Okay. Thank you, Jamie.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yeah, yeah, yeah. So it's a great question. We did have retention packages putting in place and it was in the, I'll call it $30 million to $40 million range, but there is also -- there is many ways to think about retention. So one is rolling over the incentive options and things like that, that are part of that, that continue to invest and where would be in the money given the appreciation in the stock price, the other retention. And the third part is again the reason for the acquisition of Boston Private as we've said many times, it wasn't about cost savings as the primary objective or even a secondary objective. It was building on what they had and adding it to what we had in our private bank to kind of build something unique.
And so when you -- if you were to sit down and talk to the employees that are coming over, they want to be part of this platform. There is a high level of excitement. I think the number that I saw I think from a employee retention perspective so far, I think it was 98% coming over. So we feel really good about it. And I even feel better about it as we closed and we're getting together and talking and spending more time together and engaging clients very optimistic that our cultures fit, the people are feeling good and that we're going to keep this talented group of people on both our private bank that existed before and Boston Private together for the long run.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thank you. Good morning Ravi and Paul. A couple of questions. Maybe one for Paul first.
On the gross margin, Paul, the sequential flow through is roughly 70% in the last couple of quarters. I know you're guiding kind of flattish gross margin, but is 70% the right way to think about as you model gross margin for the next few quarters? Or if you can talk about some of the puts and takes?[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yeah. Thanks, Quinn. I think overall, we're doing a pretty good job of keeping up with demand and making the deliveries that we're expected to make. It's more a case of the ability of the whole industry to really absorb the other parts. If we make a module on time or we make a tool on time, there's other elements to that have to also be ready. So I think it's really a case where the whole industry, our customers and our peers are also kind of hand in the mouth right now. So even when we're able to make deliveries, we're a little bit constrained when the whole -- the whole tool is ready to go, if you would. So, but I think we're doing, we're doing a pretty good job and keeping up. But I think one of the few times that have been in the industry where maybe 20, 30 years ago it happened in the late '90s where the revenue is really gated by, not by orders, but by the ability of the whole industry to keep up with things.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Good morning, Bryan.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hey, guys, good afternoon. Just as you shift to asset-light, wondering and I think you purposely phrased it this way, Bernard, on a reallocation of resources. Just wondering if you expect a ramp or an impact on the run rate, G&A, although, I know that's tough to figure out these days, but just kind of your thoughts on giving us a little bit more color as it pertains to G&A and a reallocation moving to new franchisees and the support system you mentioned.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Well, we are -- thank you. It's really good to hear from you. I mean, we are continuing to invest very actively, as I mentioned, in life science, in these LGM developments. We do have an acquisition pipeline. So, it really is a case-by-case basis and we continue to evaluate conditions very carefully and are really in a great position, given all the things that we've done and all the pieces we've put in place, to be able to really act opportunistically as and when we believe the circumstances are appropriate based on risk-adjusted return. And so, I feel good about where we are. And we have a long history, as you know, of doing $2 billion to $3 billion a year of investment activity. And we're in the market in all the verticals and have the team and the capital options. And so, it will be based upon what opportunities become available.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes. I think if you look at the two of them combined, we'd be about 80% complete on implementation at this point.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Sure. The hiring plan is -- as you'd expect from us, is about product and technology investments. I would say relative to many other companies, those will still look modest because the operating leverage in our business continues to be high. We're also investing in the agent channel, and that requires more head count, sales-oriented head count.
But again, what we're seeing is that our sales and marketing costs relative to revenue, right, will remain in that healthy 2% range. From an overall margin perspective shift, we don't see our head count plans and hiring plans really affecting the EBITDA margin. What you're seeing there in 2021 is reflective of public company costs increasing year over year, right? In 2020, we had two months of that. In '21, you'll see the full-year effect of that.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes, Doug just real quick. I think the other difference that's really -- although, the wide-bodies are going to be a bit of a challenge over the next couple of years, the size of our defense and aftermarket business by the time we get to 2023, 2024 is substantially more significant than it was back in 2016. And so aftermarket is definitely going to be accretive to the margins above the target of 16.5%. Defense revenues will be very solid. Significantly higher than it was back in 2016 and the normal defense margins will help as well.
So, although, the wide bodies and the 777 will be a bit of a headwind and not contribute as much as it did back in 2016, I think, the defense and aftermarket diversification and growth along with stronger 737 production rates in the A320 continue to go up gives us a really good shot to hit those 16.5% margins. Sorry for interrupting.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Welcome[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes. So all those things absolutely Dave, in terms of continuing to focus on improvement of our DSO accounts, which is very important and you can see some of that coming through end of the year here, particularly if you look at deferred revenue and what we have done there on the DSO. We are, and will continue to pay close attention to capex, but not, we're not trying to under-invest in the business by any stretch. And then the below the line items over the years as we've put the companies together right, we have had to spent money to do that and launching ForwardBound and we are just focused on all of those, those areas as well.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thanks, Batya. Let me talk about sales cycles first. I don't know that they're lengthening any more than we've talked about over the last couple of quarters and during our analyst day back in April. We saw sales toward the end of the year lighter than we liked and sales at the beginning of the year lighter, but we had good sales in March.
And so we're starting to -- we've got a good, strong funnel. The market for our products and services are there. We're seeing better sales in March. I don't know if that's an overall change yet in the sales cycles, but things are starting to close again.
And then with respect to non-core assets, I'll jump through the middle question and let Neel answer that. I don't want to get into specifics about different parts of our business and which ones that I'd call core or non-core. I think there's probably a pretty good sense of what those are. But if you look at where we invest, we're investing heavily in certain markets, in certain capabilities, in certain products, and those are the things that we think are core.
So our fiber infrastructure, our edge computing, our platform that we're building, our customer experience, Quantum Fiber, all of those things, we think, are core to us and core to the products and services that we sell and so we'll continue to focus our investments there. Neel?[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Well, thank you. Thank you all for joining us. We appreciate the interest. We appreciate the support. We look forward to continued conversations over the course of this year, and it's a long game. So everybody stay safe. Thanks again.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
And that's going to be because of the healthcare and because of the energy space and some of the other things that can be a little more credit in that take rate -- credit itself has a higher take rate.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
So this one is for -- so it's -- so we have -- the surround view is basically for cameras, right, and this is for one vehicle right now. And we -- so this is -- we expect -- so according to the customer, they want to start production end of the year, which sounds a bit early to me, but we will be happy if we -- if that works out. So it's a very short design cycle. It will be good if it works out this year, but I'm not planning for it.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Doug, in terms of our transformation agenda, I'd say we're roughly about a third of the way through. We've got two-thirds of the way to go. So we're in the early innings of it. Key themes around our transformation and cost takeout are things like optimizing our distribution elements, be it stores and retail locations and indirect agents, as well as our digital and our online buy flows.
Second area, the transformation is we are now at a point in time where we're managing a higher percentage of our volume through digital than we ever have. And because we perfected some of the elements in our product experiences of the past, we're able to enjoy a lot more self-install and customer self-serve capabilities. And that's required us to work through not only the buy flow experiences online, but also some of the platforms and the technologies that are behind the scenes supporting our frontline resources. Third, our call center operations and our IT organization are hard at work at just getting plain and simply more efficient per transaction.
And as I said, I think we've got probably two-thirds of the way left to go. It will take time. These initiatives are funded. They're inside of our outlook and inside of our guidance, and the teams are just hard at work, in the grind, day in and day out to drive it.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hi, good evening. Just on to TSMC. Can you just talk a little bit about what the total opportunity can look like there, both from a perspective of what the opportunities for TSMC to outsource would look like as a percentage of their total probe card business? And what that looks like in terms of what FORM can achieve in terms of market share there?[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
No, thanks very much for the question. So it really was a function of those challenges that we had in the first half, which meant that we were sort of looking at our mine plans on a pretty regular basis to just work things through and make sure that we were coping with those forces that were around us that I've sort of talked to. So we did have over 12 million tonnes of SP10 product in the first half, which was over -- just over double what we had in the first half of 2020. I mean this will change just as we sort of manage our business going forward. But what I would say is that, again, when we come to the end of this year with Gudai-Darri, we do have more optionality in the mining portfolio. That's why this is so important. SP10, I think, will still be part of our product mix going forward -- as we move forward. But we do have that additional optionality that a new mining hub gives us. And then that's why we sort of -- we keep saying that it is a stronger business as we come out of 2021 into 2022. But thanks for the question.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hey, good morning. Can you just remind us how much in shares you have remaining under the current repurchase authorization? And then maybe just any update to kind of the appetite of how you're looking to do repurchases going forward, I guess, particularly given the growth outlook?[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
25.5%.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hey, good afternoon, everyone. Thanks for taking my question. Mine is really on the diabetes program. Just strictly thinking about the opportunity in patients who are going to require lifetime immunosuppression, how do you think about differentiation from your cell line from sort of a cell trans donor cells, which, I think should probably get approved in the next month?
Is there a supply constraint there due to sourcing that you think you overcome with the sort of the stem cell line? Are there other characteristics of differentiation that you think can make your technology work better? And then in terms of -- I know, you're working on sort of encapsulation for protecting the differentiated islet cells to reduce immunoreactivity. But are you exploring other ways, such as the induction of immunetolerance or cell editing to get around the need for immunosuppression as well? And any thoughts on sort of those pathways?[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Absolutely. And Charles, one thing you're -- I appreciate your rearview mirror math on, kind of, how it happened. But keep in mind, I think going forward, I think, you need to maybe focus more on what we saw in our last four pads that we drilled by stretching out the cluster spacing, not stretching out the cluster spacing, adding more clusters to a stage. How we landed the wells and how we have been able to -- along the entire track -- a lateral with a layout. We don't think it's going to affect the entire lateral length of a given well, because we have the offset landing zones, and we are mitigating the new wells we drill with landing zones at the offset wells.
And we will -- in areas where we feel like we have a fairly direct offset by -- in the landing areas, we are implementing this new technique of 2 times or 3 times greater clusters in a stage, reduce fluids and profits in those particular stages. And in the last four pads that were out of the 30 direct offset wells that we saw with the number of completions that we had, we only saw two wells impacted.
So I think rolling forward, I don't think you can use historic math to calculate what we would see as the impacts rolling forward. We think it is going to continue to be reduced, like we did from 2019 to 2020, we think we're going to see a significant decrease from 2020 to 2021 PDP revisions as a result of what I'm talking about.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yeah, Chris. It's Justin. To your point there has been some changes with this election, you had -- with the new Chair as well, so we have a new Chairwoman and Lea Marquez Peterson, new Commissioner, Jim O'Connor and a new Commissioner, Anna Tovar. I know -- actually scheduled to some meetings this last week where we've met with several of them, still got a couple left to meet with, but so far, I mean, I think things seem to be pretty positive. We have a nice long-standing relationship with Commissioner, Tovar, given her days and the state legislator as well as being the former Mayor of Tolleson. So that's someone we know pretty well. And then I know with respect to Commissioner O'Connor, haven't had a chance to meet him yet. I think we've got a meeting next week with him. But my understanding is, he is someone that's a pretty good friend with Doug Little who is the former Commissioner and my understanding is that they are like-minded is what I understand and so we're definitely anxious to get to know him and develop a good working relationship with him as well. And I think if he -- if what I'm hearing is correct that he is similarly minded to Doug Little, I think that will be a positive thing, because I think Commissioner Little was a pretty constructive regulator during his time at the ACC.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thanks, Dave.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Correct. Yeah. So especially on the widebodies because as we've been seeing, demand is very strong domestically, and we've been flying those aircraft, and we have a lot of next-generation aircraft that don't -- that there are maintenance honeymoon and are not going to trigger up maintenance events and require any big amounts of cash to continue flying. And where there has been weak demand is on the international side. We're able to mitigate a lot of that by just flying widebodies domestically, and we also have next-generation widebodies that are the ones that are being utilized most often and most frequently. And then, the other aircraft that are very low ownership aircraft, they are the ones that may be hitting kind of big maintenance events. But we can defer those and preserve the cash unless we actually need the capacity. So there's a natural sort of protection embedded in our fleet structure.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Paul, let's Drew and I tag team this one. Let me go first and I'll shut up and let you go. But here's what I see. From my past work at the Fed, I'd love to break the industrial segment particularly as a great leading indicator into 10 big segments for Southern. And then not only do I look at period-versus-period results. Virtually all of it is still negative compared to a year ago, obviously, pre-COVID. But the momentum statistics are really illuminating now, and they have turned positive. So of the 10 segments that make up something like 80% of our industrial sales, eight of them from a momentum standpoint are turning positive. So that tells me, and with a quote that has been put out there by me in the past, America is learning to live with COVID. A, I think COVID incidences are starting to decline. Maybe that's the normal sign wave we see from any surge, which we just went through. And maybe it's the longer-term effect of getting more people vaccinated. Didn't the Biden administration say recently, they want everybody vaccinated by July or sometime this summer? So surely, that will have an impact. But the economic data I see would show a recovery, I don't know, down 3% last year, maybe up 2% to 3% this year, with industrial starting to respond in a favorable manner.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hi, good evening, everyone, and congrats on such a massive revenue beat. My first question is actually related to your last one just now, a little bit indirectly. I know it's impossible to predict at this point. But in a unlikely scenario of government limiting advertisements significantly, what do you think will be the sustainable growth rate for xueersi.com or online tutoring industry as a whole in a less-advertisement or no-advertisement environment? And how do you think we can achieve such a run rate, i.e., you know, could you please possibly break out new student enrollment or new student contribution currently from online performance adds versus organic versus referral or any way so that we can have a sense that no advertisement would be a -- would still be giving us x amount of growth? And I have one follow-up.
Thank you very much.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes. Maybe Dan, I'll throw the big deals one to you.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Okay. Thanks.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes, thank you. I think that's our last question. Thanks to the management teams, thanks to our employees, and thanks to all our listeners for their interest in Liberty Broadband and Liberty TripAdvisor. We hope to speak with you next quarter, if not sooner.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thanks. Good evening, everyone. Hope everyone's doing well. Maybe just to stay on Dakota Access and the Army Corps.
Do you know if the Army Corps is -- under the new administration is going to incorporate climate change analysis into the EIS? And if so, is that factored into your time line that you provided for when you think the EIS gets completed?[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hey, Jay.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Right. Right. All right.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yeah. So last year we had -- first of all, the biggest customer of that facility is our Amphastar U.S., and we buy some APIs from them, and also we contract them to do some R&D work for us, mostly around the R&D of APIs. But last year we had over $3 million in sales, which was up significantly from the prior year, and I think what we said this year, was that we expect that number to double this year, and so, we should have more revenues this year. It wasn't reported in the press release, but we had a little over $1 million in third party sales from that facility in the first quarter this year. So it's already on a trend higher than the quarterly run rate from last year, and we do expect continued growth out of that facility.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thank you.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yeah. So when it comes to -- I think what we have learned in our past and it's indicative, I believe, also for the future, that customer service is mission-critical for companies, regardless of the situation of their business. They still have customers, they want to stay in touch with those customers. Customer is the most important asset. So I would say that even at the peak of the pandemic, last year, March, April, May, if you think about this particular segment you've mentioned of travel and tourism, all the way through the summer, they still have, although many hotels were closed and airlines had 10% volume versus usual in terms of flights etc., they still have a ton of need to provide customer service. People calling or people interacting with them about cancellation, questions, inquiries, my frequent flyer status or my frequent hotel status and things like that.
What we have seen specifically in travel and tourism and some other industries is that they are already seeing right now, and maybe it's indicative to what we're going to see in the future in the industry and they are seeing already, a lot of volume of people preparing for the summer months and even for the holidays of this year and they are experiencing a lot of positive booking on their business and they are preparing themselves. So they need more capacity and they've learned through the pandemic that there is a better way to do it. So they are taking advantage of this -- of the experience to both shift to the cloud, as well as -- or starting to offer certain digital services.
And lastly, in many of those cases, their employees are either still working from home or they are planning to do it in a hybrid model. And for that they're realizing that they need further advanced capabilities coming from our workforce engagement area.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Hey, good morning, everybody, and thanks for the presentation. I'm going to ask a question related to the mainline. I just wanted to know if you could comment on the additional storage assets acquired at Cushing and how those might enhance the value of the mainline proposed contracting for shippers and whether there's any other opportunities such as storage, further upstream. And then, related to that, I'm curious as to how aggressive you think you can be in the U.S.
Gulf Coast strategy before you have mainline contracting certainty. Thank you.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thank you.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
If you think about our April 2017 customer, right? We -- that contract's going into production. Therefore, we always have the very proof concept that we are in that space and we are driving past the automotive parts. In the automotive lidar, creating reputation for a long time is important. So therefore, this line objective shows scalability is very important actually.
And I think I mentioned this last call as well that it's equally as important technology and we are actually in very good position for that.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Good morning, gentlemen and congratulations on a good quarter and good guidance. Just trying to unpack the printer growth a little bit more. Can you help me understand in terms of that growth, is a substantial part of that growth being driven by, I know the SMBs but also growth in the supply business as well?[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Great, thanks. Good morning. Congratulations on the great performance. I guess, first off, I want to ask about the margin performance, nice drop-down of the sales gain into the incremental margin side. Obviously, that's going to be affected by the pass through of raw materials in '21, and so percent margins will likely come down.
But could you just, maybe just give us an outlook on maybe the temp cost that you gained in '20 and how much of that is maybe coming back in '21 and then maybe also freight, if those would impact your incremental margins? Thanks.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
It was evenly balanced. And as you pointed out, year-over-year, each region grow from the end of 19th, at the end of 20. And it was evenly balanced. Obviously, primarily, entry level type product, but lots for product of entry level, but it was fairly. Okay.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Justin, no, really the first quarter is proceeding pretty much as we expected. So there is nothing that I would point to in terms of change in our viewpoint coming into the year.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thank you,[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Mark, this is Mike. Yes, as we said, it's a 3Q deliverable this year for us. And as I mentioned, we'll be scheduling a broadcasted demonstration of the product before launch. So excited for you all to see the new interface, the technology. There is truly nothing like it on the market. It is a effortless, transparent experience. It's a digital agent experience.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Yes. We talked about it at the beginning of the year, the fact that we're investing in different technologies. We're investing -- making some additional investments in our Ryder Last Mile, adding some nodes and facilities, and investing in technology also for our e-fulfillment product line. So I think what -- really, the takeaway from this quarter is we're just very encouraged by the results that we're seeing so far. I would say even beyond the e-fulfillment piece, just the acceptance of the RyderShare visibility and collaboration tool that we developed over the last 1.5 years, two years, we're really -- it's really becoming a big driver for us winning supply chain business and dedicated business. So let me hand it over to Steve so he can give you a little bit more color.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thank you.[/INST]
Direction (UP or DOWN): DOWN | DOWN |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Thanks, Bob. So, one of our larger investments as you rightly point out, that's progressing well. Obviously, there has been some COVID impact on our schedule as well as of our customer, that's still on track to getting largely mechanically complete by the dates that we'd originally set out plus or minus a few weeks. And to be honest, Bob, we've been running gasifiers at that Singapore site for decades. So, really, none of this is new for us. From an engineering point of view, we've been building gasifiers for decades as well. So, there's a lot of that organizational learning that we've been able to put into that project. So, it's coming along quite nicely.[/INST]
Direction (UP or DOWN): UP | UP |
[INST] <<SYS>>You are a financial analyst, predicting which direction the stock price will go following this answer from the Q/A section of an earnings call. Respond with UP or DOWN<</SYS>>
Great. Thank you, operator. Thank you, everyone, for participating in our call this morning. We look forward to getting back on. We look forward to our Q3 earnings in October. And we appreciate your interest in Getty.[/INST]
Direction (UP or DOWN): DOWN | DOWN |