| Nuveen Churchill Direct Lending Corp. (NCDL) Q1 2025 Earnings Call Transcript |
Nuveen Churchill Direct Lending Corp. (NYSE:NCDL ) Q1 2025 Earnings Conference Call May 8, 2025 11:00 AM ET Company Participants Ken Kencel - Chairman, President and CEO Shai Vichness - CFO Robert Paun - IR Conference Call Participants Brian McKenna - Citizens JMP Doug Harter - UBS Maxwell Fritscher - Truist Securities. Operator Welcome to Nuveen Churchill Direct Lending Corp's first quarter 2025 earnings call. |
seekingalpha.com |
2025-05-11 11:03:51 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending Corp. (NCDL) Q1 Earnings and Revenues Lag Estimates |
Nuveen Churchill Direct Lending Corp. (NCDL) came out with quarterly earnings of $0.53 per share, missing the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.56 per share a year ago. |
zacks.com |
2025-05-08 13:30:56 |
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| Nuveen Churchill Direct Lending Corp. Announces First Quarter 2025 Results |
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or the “Company”), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the “Adviser”), and by its sub-adviser, Churchill Asset Management LLC (“Churchill”), today reported financial results for the first quarter ended March 31, 2025. Financial Highlights for the Quarter Ended March 31, 2025 Net investment income of $0.53 per share Net realized and unrealized. |
businesswire.com |
2025-05-08 11:15:00 |
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| My BDC Portfolio: 2 Months In And A Clear Alpha Performance |
My BDC Portfolio: 2 Months In And A Clear Alpha Performance |
seekingalpha.com |
2025-05-01 13:15:00 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending: Ridiculously Cheap Given Its Quality |
Nuveen Churchill Direct Lending Corp. is a strong BDC pick, with a rock-solid portfolio and significant focus on first-lien debt investments. NCDL's portfolio includes 210 companies with an average EBITDA of $78m, indicating market-tested enterprises with strong competitive positions. Despite rising liquidity issues, NCDL's 90.6% first-lien debt investments and outstanding diversification mitigate risks and highlight its defensive orientation. |
seekingalpha.com |
2025-04-25 06:56:35 |
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| Nuveen Churchill Direct Lending Corp. Schedules First Quarter 2025 Earnings Release and Conference Call |
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or “the Company”), today announced it will report its financial results for the first quarter ended March 31, 2025, on Thursday, May 8, 2025, before the market opens. The Company will host an earnings conference call and public webcast at 11:00 AM Eastern Time the same day to discuss its financial results. All interested parties may participate in the conference call by dialing (866)-605-1826 approximately 10-. |
businesswire.com |
2025-04-15 20:00:00 |
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| BDC Weekly Review: BDCs Plunge On Macro Fears |
We take a look at the action in business development companies through the first week of April and highlight some of the key themes we are watching. BDCs faced significant losses, with average returns around -9% on the week with valuations dropping below historical averages. Valuation uncertainty is high due to quarterly NAV declarations and systemic/idiosyncratic factors; estimated NAV drops are 2-3% from Q4 levels. |
seekingalpha.com |
2025-04-13 18:06:17 |
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| Nuveen Churchill Direct Lending: Underrated BDC, But Could Face Selling Pressure |
Nuveen Churchill Direct Lending delivered a solid performance in 2024, growing both net and total investment income year-over-year despite a slight decline in the bottom line per share. NCDL's portfolio saw significant growth with $950 million deployed, focusing on first-lien investments and maintaining strong credit quality with minimal non-accruals. Despite a slight increase in leverage, NCDL's balance sheet remains robust, with no near-term debt maturities, strong liquidity, and strategic share repurchases. |
seekingalpha.com |
2025-04-02 11:32:00 |
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| My BDC Portfolio And The Strategy For Alpha Going Forward |
This is my first BDC portfolio monthly performance review article. The good news is that the portfolio has done its job, outperforming the two BDC benchmarks - PBDC and BIZD. Yet, on an absolute basis, the portfolio is slightly down. |
seekingalpha.com |
2025-03-28 11:15:00 |
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| BDC Weekly Review: A Mystery On The Horizon |
We take a look at the action in business development companies through the first week of March and highlight some of the key themes we are watching. BDCs had a tough week despite a strong finish on the back of increased market volatility and worsening risk sentiment. Horizon Tech Finance delivered a negative 3.5% total NAV return in Q4, continuing its trend of underperformance, yet it trades at a premium. |
seekingalpha.com |
2025-03-15 09:46:32 |
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| Nuveen Churchill Direct Lending: Q4 Outperformance As Fee Waivers Drive High Income |
We take a look at the BDC Nuveen Churchill Direct Lending Q4 results. NCDL trades at a 13.1% dividend yield and a 7% discount to book. The company's portfolio focuses on the tech and healthcare sectors, with an above-average first-lien portfolio and strong diversification across 202 positions. |
seekingalpha.com |
2025-03-14 15:08:45 |
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| Nuveen Churchill Direct Lending: The Market Has Started To Recognize Value, Here Is How To Play It |
My thesis on Nuveen Churchill Direct Lending has started to play out nicely. NCDL has managed to register a decent alpha right in the moment when the BDC has been subject to elevated volatility. Considering the Q4 2024 report and the current BDC market environment, I remain long on NCDL. Yet, the long-term return prospects have weakened a bit. |
seekingalpha.com |
2025-03-13 11:15:00 |
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| The Moment Of Truth For BDC Dividend Investors Is Close |
As a structural BDC bull I have to admit that the period of BDCs consistently surprising us on the upside has come to an end. Many lower quality BDCs have already cut their dividends to sync their cash flows with less favorable private credit lending environment. I would say that the moment of truth for high quality BDCs is also very close, where we will see how really durable their base dividends are. |
seekingalpha.com |
2025-03-11 11:15:00 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending Corp. (NCDL) Q4 2024 Earnings Call Transcript |
Nuveen Churchill Direct Lending Corp. (NYSE:NCDL ) Q4 2024 Results Conference Call February 27, 2025 11:00 AM ET Company Participants Robert Paun - Head-Investor Relations Ken Kencel - Chairman, President and Chief Executive Officer Shai Vichness - Chief Financial Officer Conference Call Participants Doug Harter - UBS Mark Hughes - Truist Securities Operator Welcome to Nuveen Churchill Direct Lending Corp. Fourth Quarter and Full Year 2024 Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded for replay purposes. |
seekingalpha.com |
2025-02-28 20:20:14 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending Corp. (NCDL) Q4 Earnings and Revenues Miss Estimates |
Nuveen Churchill Direct Lending Corp. (NCDL) came out with quarterly earnings of $0.56 per share, missing the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.66 per share a year ago. |
zacks.com |
2025-02-27 10:16:08 |
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| Nuveen Churchill Direct Lending Corp. Announces Full Year and Fourth Quarter 2024 Results |
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or the “Company”), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the “Adviser”), and by its sub-adviser, Churchill Asset Management LLC (“Churchill”), today reported financial results for the full year and fourth quarter ended December 31, 2024. Financial Highlights for the Quarter Ended December 31, 2024 Net investment income of $0.56 per share Net rea. |
businesswire.com |
2025-02-27 08:00:00 |
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| My BDC Portfolio To Beat The Index And Generate Durable Income |
In this article I have elaborated on my actual BDC portfolio. The objective of this portfolio is to beat the BDC-specific indices/ETFs and capture durable base dividends. The portfolio is optimized across leverage, dividend coverage, yield, and valuation levers. |
seekingalpha.com |
2025-02-24 11:15:00 |
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| BDC Weekly Review: Few Worries About MSDL Share Cap Raise |
We take a look at the action in business development companies through the second week of February and highlight some of the key themes we are watching. BDCs saw a strong 2% gain, driven by solid earnings and hot inflation numbers, with CGBD underperforming due to a BOA rating cut. Morgan Stanley Direct Lending Fund seeks shareholder approval to increase shares significantly, a common practice among BDCs with minimal dilution concerns. |
seekingalpha.com |
2025-02-22 08:31:28 |
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| BDC Weekly Review: 2 Positives In NCDL Bond Issuance |
We take a look at the action in business development companies through the fourth week of January and highlight some of the key themes we are watching. BDCs had a strong week with a 1.5% total return, led by TCPC and GSBD, while OBDC faced pressure from merger-related gains. Nuveen Churchill Direct Lending issued a $300m bond, likely to reduce interest expenses and increase leverage, signaling management's confidence in the portfolio. |
seekingalpha.com |
2025-02-01 00:03:35 |
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| BDC Weekly Review: OBDC Consummates Merger, Delivering Alpha To OBDE Holders |
We take a look at the action in business development companies through the third week of January and highlight some of the key themes we are watching. BDCs had a strong week with a 3% total return, boosted this year by the unwinding of several Fed rate cuts. Blue Owl Capital Corp's merger with OBDE provided significant alpha opportunities due to OBDE's lower valuation. |
seekingalpha.com |
2025-01-25 02:17:16 |
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| Nuveen Churchill Direct Lending Corp. Announces Closing of Public Offering of $300 Million 6.650% Notes Due 2030 |
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (the “Company,” “we,” “us,” or “our”) (NYSE: NCDL) today announced that it has closed a public offering of $300.0 million aggregate principal amount of 6.650% unsecured notes due 2030 (the “Notes”), which resulted in net proceeds to the Company of approximately $296.0 million, after deducting the underwriting discount and the estimated offering expenses payable by the Company. The Notes bear interest at a rate of 6.650% per year p. |
businesswire.com |
2025-01-22 18:54:00 |
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| Nuveen Churchill Direct Lending Corp. Schedules Fourth Quarter and Full Year 2024 Earnings Release and Conference Call |
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or “the Company”), today announced it will report its financial results for the fourth quarter and full year ended December 31, 2024, on Thursday, February 27, 2025, before the market opens. The Company will host an earnings conference call and public webcast at 11:00 AM Eastern Time the same day to discuss its financial results. All interested parties may participate in the conference call by dialing (866)-60. |
businesswire.com |
2025-01-22 18:50:00 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending: New BDC On The Block With Potential |
I rate Nuveen Churchill Direct Lending (NCDL) as a buy due to its solid dividend coverage, diverse portfolio, discount to NAV valuation, and consistent investment activity. NCDL's portfolio is valued at $2.05B, with 94.3% in floating rate investments, benefiting from higher interest rates but posing borrower sustainability risks. The current dividend yield is 10.7%, with net investment income fully supporting the distribution, providing reliable high-yield income for investors. |
seekingalpha.com |
2025-01-19 10:43:48 |
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| Nuveen Churchill Direct Lending Corp. Prices Public Offering of $300 Million 6.650% Notes Due 2030 |
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (the “Company,” “we,” “us” or “our”) (NYSE: NCDL) today announced that it has priced an underwritten public offering of $300 million in aggregate principal amount of 6.650% unsecured notes due 2030 (the “Notes”). The Notes will mature on March 15, 2030, and may be redeemed in whole or in part at the Company's option at any time prior to February 15, 2030, at par plus a “make-whole” premium plus accrued interest. The Notes will bea. |
businesswire.com |
2025-01-14 20:59:00 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending: 10.5% Yielding BDC In Our Buy Zone |
Nuveen Churchill Direct Lending is a newly IPO'd BDC with strong fundamentals, trading at a 4.3% discount to NAV. NCDL boasts a diversified portfolio, heavily weighted towards first-lien loans (90.6%), positioning it well for economic volatility. Solid balance sheet with no near-term debt maturities and a leverage ratio below the sector median, indicating potential for growth. |
seekingalpha.com |
2024-12-08 19:00:00 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending: Why I Am Following Insider And Buying This BDC |
Nuveen Churchill Direct Lending is a promising BDC with a market cap of $946M, offering an attractive 10.4% yield and a -4.9% NAV discount. Insider buying, including recent CEO share purchases, signals strong confidence in NCDL's near-term future and the potential for a BDC sector rebound. Despite being relatively unnoticed since its IPO, NCDL's portfolio has been meticulously developed by Nuveen, making it a compelling addition to a high-yield income portfolio. |
seekingalpha.com |
2024-12-05 11:50:54 |
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| Distribution/Dividend Coverage: Why It's Important And What Investors Need To Know |
"Distribution Coverage" sounds very important and critical. So what is it? It involves identifying the cash flow sources of distributions from different types of closed-end funds, and how stable and predictable those sources appear to be. Credit funds and Equity funds have very different sources of distributions - some very stable and predictable, others more volatile. |
seekingalpha.com |
2024-11-27 14:09:05 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending: The Market Is Sleeping On This BDC |
NCDL is a business development company, offering high income potential for its shareholders. Its portfolio is defensively structured with a high degree of diversification, first-lien exposure, and low non-accruals. NCDL's outstanding regular dividend coverage provides a wide margin of safety in the case of further interest rate cuts (sensitivity analysis provided). |
seekingalpha.com |
2024-11-26 12:22:59 |
Czytaj oryginał (ang.) |
| NCDL: Excellent Performance, Supported By IPO-Related Fee Waivers |
We take a look at the BDC Nuveen Churchill Direct Lending (NCDL) Q3 results. NCDL trades at a 13.1% dividend yield and a 7% discount to book. The company's portfolio focuses on the tech and healthcare sectors, with an above-average first-lien portfolio and strong diversification across 202 positions. |
seekingalpha.com |
2024-11-21 10:08:08 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending Corp. (NCDL) Q3 2024 Earnings Call Transcript |
Nuveen Churchill Direct Lending Corp. (NYSE:NCDL ) Q3 2024 Earnings Conference Call November 7, 2024 11:00 AM ET Company Participants Robert Paun – Head-Investor Relations Ken Kencel – Chairman, President and Chief Executive Officer Shai Vichness – Chief Financial Officer Conference Call Participants Brian Mckenna – Citizens Maxwell Fritscher – Truist Derek Hewett – Bank of America Paul Johnson – KBW Operator Welcome to Nuveen Churchill Direct Lending Corp.'s Third Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. |
seekingalpha.com |
2024-11-09 05:50:46 |
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| Nuveen Churchill Direct Lending Corp. Announces Third Quarter 2024 Results |
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or the “Company”), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the “Adviser”), and by its sub-adviser, Churchill Asset Management LLC (“Churchill”), today reported financial results for the quarter ended September 30, 2024. Financial Highlights for the Quarter Ended September 30, 2024 Net investment income of $0.58 per share Net realized and unrealize. |
businesswire.com |
2024-11-07 09:15:00 |
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| BDC Weekly Review: PSEC Doubles Down On Its Strategy |
We take a look at the action in business development companies through the fourth week of October and highlight some of the key themes we are watching. BDCs underperformed this week but still outpaced the broader income market, with larger BDCs leading month-to-date performance. PSEC increased its preferred issuance cap to $2.5bn. |
seekingalpha.com |
2024-11-02 06:10:32 |
Czytaj oryginał (ang.) |
| BDC Weekly Review: PIK Is At Record High |
We take a look at the action in business development companies through the third week of October and highlight some of the key themes we are watching. BDCs had a strong week, rising over 1%, supported by reduced expectations of rate cuts. The rise in Payment-in-Kind (PIK) income, now at 7.5%, raises concerns about potential credit issues, though not all PIK is distress-related. |
seekingalpha.com |
2024-10-26 07:19:27 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending Corp. Schedules Third Quarter 2024 Earnings Release and Conference Call |
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or “the Company”), today announced it will report its financial results for the third quarter ended September 30, 2024, on Thursday, November 7, 2024, before the market opens. The Company will host an earnings conference call and public webcast at 11:00 AM Eastern Time the same day to discuss its financial results. All interested parties may participate in the conference call by dialing (866)-605-1826 approxim. |
businesswire.com |
2024-10-09 20:15:00 |
Czytaj oryginał (ang.) |
| Buy These ‘Private Equity' Plays For 10.5% Yields |
Let's talk about a “rich guy loophole” that you and I can take advantage of—and bank dividends up to 12.5%. |
forbes.com |
2024-09-15 14:04:00 |
Czytaj oryginał (ang.) |
| Gauging Distribution Winners And Losers In The Next Rate Cycle |
The Fed is expected to lower short-term rates soon, impacting distributions for investment vehicles like CEFs and BDCs. Investors should focus on both distribution paths and valuations of CEFs, as valuation changes can significantly affect portfolio wealth. BDCs, despite holding floating-rate assets, offer high dividend coverage and income diversification, making them attractive even in a rate-cutting cycle. |
seekingalpha.com |
2024-09-12 14:20:08 |
Czytaj oryginał (ang.) |
| NCDL: The Data Is Too Good To Maintain Hold (Rating Upgrade) |
NCDL is a relatively new BDC with an IPO date in January this year. In my previous piece that was issued back in May, I outlined several areas of concern that lead to a neutral stance. However, seeing the Q2, 2024 data and putting all of the critical pieces together, I have decided to upgrade it from hold to buy. |
seekingalpha.com |
2024-09-09 00:25:07 |
Czytaj oryginał (ang.) |
| BDC Weekly Review: PSEC Gets Bad Press |
We take a look at the action in business development companies through the third week of August and highlight some of the key themes we are watching. BDCs delivered a 2% total return on the week, starting to climb out of the early August drawdown. A recent Bloomberg article on Prospect Capital focused on cash generation and preferred stock issuance. |
seekingalpha.com |
2024-08-24 02:03:41 |
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| Why We Are Adding BDCs To Our Income Portfolios Right Now |
Over the last couple of weeks we added a number of new BDC positions to our Income Portfolios despite a fairly expensive credit market backdrop. We discuss the reasons behind this and where we see value in the BDC space. Recent market hiccup has opened up attractive opportunities in the BDC sector, particularly in newly IPO'd companies with lower liquidity and awareness. |
seekingalpha.com |
2024-08-23 13:42:40 |
Czytaj oryginał (ang.) |
| NCDL: Initiating Coverage And Adding A Position In This 13% Yielding BDC |
We initiate coverage of business development company Nuveen Churchill Direct Lending Corp. It trades at a 13% dividend yield. Portfolio quality has remained stable, with low non-accruals and a focus on first-lien loans. We added a position in the stock given its portfolio quality, resilience and above-average valuation-adjusted performance. |
seekingalpha.com |
2024-08-22 14:07:25 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending Corp. (NCDL) Q2 2024 Earnings Call Transcript |
Nuveen Churchill Direct Lending Corp. (NYSE:NCDL ) Q2 2024 Earnings Conference Call August 7, 2024 11:00 AM ET Company Participants Alona Gornick - Senior Investment Strategist Kenneth Kencel - Chairman, President and CEO Shai Vichness - Chief Financial Officer and Treasurer Conference Call Participants Brian McKenna - JMP Securities Douglas Harter - UBS Mark Hughes - Truist Securities Operator Welcome to the Nuveen Churchill Direct Lending Corp. Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. |
seekingalpha.com |
2024-08-11 08:35:28 |
Czytaj oryginał (ang.) |
| NCDL: Too Many Uncertainties To Go Long |
Nuveen Churchill Direct Lending Corporation is a BDC that went public this year, but so far, has underperformed the BDC index. By looking at the underlying financials, we will recognize a sufficient basis of data points that explain the market's reaction. In this article, I assess NCDL's fundamentals and elaborate on the key risks that, in my opinion, are sufficient for assuming a conservative view against NCDL. |
seekingalpha.com |
2024-05-28 16:12:14 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending Corp. (NCDL) Q1 2024 Earnings Call Transcript |
Nuveen Churchill Direct Lending Corp. (NYSE:NCDL ) Q1 2024 Earnings Conference Call May 9, 2024 11:00 AM ET Company Participants Alona Gornick - Senior Investment Strategist Ken Kencel - Chairman, President and CEO Shai Vichness - Chief Financial Officer and Treasurer Conference Call Participants Vilas Abraham - UBS Brian McKenna - Citizens JMP Mark Hughes - Truist Securities Operator Hello and welcome to the Nuveen Churchill Direct Lending Corp. First Quarter 2024 Earnings Call. [Operator Instructions] A question-and-answer session will follow the formal presentation. |
seekingalpha.com |
2024-05-12 04:26:20 |
Czytaj oryginał (ang.) |
| Nuveen Churchill Direct Lending Corp. Schedules First Quarter 2024 Earnings Release and Conference Call |
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or “the Company”), today announced it will report its financial results for the first quarter ended March 31, 2024, on Thursday, May 9, 2024, before the market opens. The Company will host an earnings conference call and public webcast at 11:00 AM Eastern Time the same day to discuss its financial results. All interested parties may participate in the conference call by dialing (866)-605-1826 approximately 10-. |
businesswire.com |
2024-04-17 20:05:00 |
Czytaj oryginał (ang.) |