Cambridge-Lee Holdings Consolidated Results of Operations for Q1 2025
Cambridge-Lee Holdings, Inc, has announced its unaudited consolidated results for the first quarter of 2025.
| CAMBRIDGE-LEE HOLDINGS, INC. AND SUBSIDIARIES | |||||||||||
| (A Wholly Owned Subsidiary of Tubo de Pasteje S.A. de C.V.) | |||||||||||
| CONSOLIDATED BALANCE SHEETS | |||||||||||
| As of March 31, 2025 and December 31, 2024 | |||||||||||
| Figures in US Dollars | 12/31/2024 | 3/31/2024 | 3/31/2025 | ||||||||
| Assets | |||||||||||
| Current Assets: | |||||||||||
| Cash and cash equivalents |
$ |
298,409,000 |
|
$ |
228,515,000 |
|
|
305,082,000 |
|
||
| Accounts Receivable - Net |
|
78,187,000 |
|
|
94,232,000 |
|
|
123,432,000 |
|
||
| Accounts Receivable - Affiliates |
|
9,353,000 |
|
|
10,178,000 |
|
|
25,808,000 |
|
||
| Accounts Receivable - Refundable Income Tax |
|
1,141,000 |
|
|
3,204,000 |
|
|
1,141,000 |
|
||
| Other Receivables |
|
250,000 |
|
|
242,000 |
|
|
564,000 |
|
||
| Inventories — net |
|
103,707,000 |
|
|
90,964,000 |
|
|
107,560,000 |
|
||
| Other current assets |
|
6,733,000 |
|
|
17,788,000 |
|
|
23,458,000 |
|
||
| Deferred income taxes |
|
0 |
|
|
0 |
|
|
0 |
|
||
| Total current assets |
|
497,780,000 |
|
|
445,123,000 |
|
|
587,045,000 |
|
||
| Restricted Cash | |||||||||||
| Property, Plant, and Equipment — Net |
|
50,069,000 |
|
|
48,634,000 |
|
|
49,318,000 |
|
||
| ROU Asset |
|
4,250,000 |
|
|
4,966,000 |
|
|
4,645,000 |
|
||
| Deferred Financing Fees — Net |
|
117,000 |
|
|
156,000 |
|
|
104,000 |
|
||
| Other Long-Term Assets |
|
13,222,000 |
|
|
320,000 |
|
|
431,000 |
|
||
| Total |
$ |
565,438,000 |
|
$ |
499,199,000 |
|
$ |
641,543,000 |
|
||
| Liabilities and Shareholders' Equity | |||||||||||
| Current Liabilities: | |||||||||||
| Current portion of long-term debt |
|
2,327,000 |
|
|
2,363,000 |
|
|
1,750,000 |
|
||
| Lease Liability - S. T. |
|
1,180,000 |
|
|
1,280,000 |
|
|
1,221,000 |
|
||
| Trade Accounts Payable |
|
28,456,000 |
|
|
32,950,000 |
|
|
44,988,000 |
|
||
| Affiliates Payable |
|
1,277,000 |
|
|
621,000 |
|
|
5,368,000 |
|
||
| Accrued expenses and taxes other than income tax |
|
14,123,000 |
|
|
12,563,000 |
|
|
17,747,000 |
|
||
| Income taxes payable |
|
1,238,000 |
|
|
10,925,000 |
|
|
15,439,000 |
|
||
| Total current liabilities |
|
48,601,000 |
|
|
60,702,000 |
|
|
86,513,000 |
|
||
| Long-Term Debt |
|
9,000 |
|
|
1,752,000 |
|
|
2,000 |
|
||
| Long-Term Obligations — Other |
|
1,004,000 |
|
|
(919,000 |
) |
|
(778,000 |
) |
||
| Lease Liability - L. T. |
|
3,125,000 |
|
|
3,742,000 |
|
|
3,475,000 |
|
||
| Deferred Income Taxes |
|
2,360,000 |
|
|
3,265,000 |
|
|
2,360,000 |
|
||
| Total liabilities |
|
55,099,000 |
|
|
68,542,000 |
|
|
91,572,000 |
|
||
| SHAREHOLDERS’ EQUITY: | |||||||||||
| Common stock, no par — authorized, 1,500 shares; | |||||||||||
| issued and outstanding, 1,000 shares |
|
1,000 |
|
|
1,000 |
|
|
1,000 |
|
||
| Additional paid-in capital |
|
24,205,000 |
|
|
24,205,000 |
|
|
24,205,000 |
|
||
| Excess of liabilities assumed over book value | |||||||||||
| of assets transferred |
|
(17,514,000 |
) |
|
(17,514,000 |
) |
|
(17,514,000 |
) |
||
| Retained earnings |
|
488,801,000 |
|
|
412,087,000 |
|
|
527,247,000 |
|
||
| Accumulated other comprehensive income (loss) |
|
(127,000 |
) |
|
(713,000 |
) |
|
(126,000 |
) |
||
| Noncontrolling owner’s interest |
|
14,973,000 |
|
|
12,591,000 |
|
|
16,158,000 |
|
||
| Total shareholders' equity |
|
510,339,000 |
|
|
430,657,000 |
|
|
549,971,000 |
|
||
| TOTAL |
$ |
565,438,000 |
|
$ |
499,199,000 |
|
$ |
641,543,000 |
|
||
| CAMBRIDGE-LEE HOLDINGS, INC. AND SUBSIDIARIES | |||||||||||
| (A Wholly Owned Subsidiary of Tubo de Pasteje S.A. de C.V.) | |||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||
| As of March 31, 2025 and December 31, 2024 | |||||||||||
| Figures in US Dollars | 12/31/2024 | 3/31/2024 | 3/31/2025 | ||||||||
| Revenues: | |||||||||||
| Net Sales |
$ |
794,805,000 |
$ |
180,466,000 |
$ |
224,456,000 |
|||||
| Cost of Sales |
|
567,417,000 |
|
|
128,850,000 |
|
|
162,671,000 |
|
||
| Gross Income |
|
227,388,000 |
|
|
51,616,000 |
|
|
61,785,000 |
|
||
| Selling, General and Administrative Expenses |
|
44,506,000 |
|
|
10,637,000 |
|
|
11,064,000 |
|
||
| Operating Income |
|
182,882,000 |
|
|
40,979,000 |
|
|
50,721,000 |
|
||
| Other Expense: | |||||||||||
| Interest — net |
|
8,808,000 |
|
|
2,649,000 |
|
|
904,000 |
|
||
| Other — net |
|
2,530,000 |
|
|
20,000 |
|
|
2,203,000 |
|
||
| Total Other Expense |
|
11,338,000 |
|
|
2,669,000 |
|
|
3,107,000 |
|
||
| Income (Loss) From Continuing Operations Before Provision for Income Taxes |
|
194,220,000 |
|
|
43,648,000 |
|
|
53,828,000 |
|
||
| Provision (benefit) for Income Taxes |
|
47,418,000 |
|
|
10,926,000 |
|
|
14,197,000 |
|
||
| Net Income Gain (Loss) from Continuing Operations |
|
146,802,000 |
|
|
32,723,000 |
|
|
39,631,000 |
|
||
| COMPREHENSIVE (LOSS) INCOME—Pension unrecognized |
|
604,000 |
|
|
0 |
|
|
0 |
|
||
| Net Income (Loss) |
|
147,406,000 |
|
|
32,723,000 |
|
|
39,631,000 |
|
||
| Net Income Attributable to Noncontrolling Interest |
|
4,389,000 |
|
|
978,000 |
|
|
1,185,000 |
|
||
| Net Income Attributable to Cambridge-Lee Holdings, Inc. |
|
143,017,000 |
|
|
31,745,000 |
|
|
38,447,000 |
|
||
| CAMBRIDGE-LEE HOLDINGS, INC | |||
| STATEMENT OF CASH FLOW | |||
| Figures in US Dollars | |||
| March 31, 2025 | |||
| OPERATING ACTIVITIES: | |||
| Net income (loss) |
39,631,000 |
|
|
| Less Net income (loss) from disposition | |||
| Less Net income (loss) attributed to noncontrolling interest | |||
| Net income (loss) |
39,631,000 |
|
|
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Noncontrolling interest |
- |
|
|
| Depreciation and amortization |
1,933,000 |
|
|
| Allowance for (benefit from) doubtful accounts receivable |
(126,000 |
) |
|
| Changes in assets and liabilities which provided (used) cash: | |||
| (Increase) decrease in accounts and notes receivable |
(61,698,000 |
) |
|
| (Increase) decrease in inventories |
(3,853,000 |
) |
|
| (Increase) decrease in prepaid expenses, deposits and other assets |
(3,941,000 |
) |
|
| Increase (decrease) in other long term obligations |
(1,782,000 |
) |
|
| Increase (decrease) in accounts payable, accrued exps & amounts due to affiliates |
24,248,000 |
|
|
| Change in operating lease liabilities |
(4,000 |
) |
|
| Increase (decrease) in income taxes payable |
14,012,000 |
|
|
| Increase (decrease) in assets from dispositions | |||
| Total adjustments |
(31,211,000 |
) |
|
| Net cash provided by (used in) operating activities |
8,420,000 |
|
|
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of property, plant and equipment |
(1,176,000 |
) |
|
| Net cash provided by (used in) investing activities |
(1,176,000 |
) |
|
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from long term debt |
(584,000 |
) |
|
| Payment of debt issuance costs |
13,000 |
|
|
| Net cash provided by (used in) financing activities |
(571,000 |
) |
|
| EFFECT OF EXCHANGE RATE CHANGES ON CASH | |||
| Net increase in cash and cash equivalents |
6,673,000 |
|
|
| Cash and cash equivalents at beginning of period |
298,409,000 |
|
|
| Cash and cash equivalents at end of period |
305,082,000 |
|
|
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