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Meta Reports Fourth Quarter and Full Year 2024 Results

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MENLO PARK, Calif., Jan. 29, 2025 /PRNewswire/ — Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter and full year ended December 31, 2024.

“We continue to make good progress on AI, glasses, and the future of social media,” said Mark Zuckerberg, Meta founder and CEO. “I’m excited to see these efforts scale further in 2025.”

 

Fourth Quarter and Full Year 2024 Financial Highlights

Three Months Ended December 31,

 % Change

Twelve Months Ended December 31,

% Change

In millions, except percentages and

per share amounts                                                    

2024

2023

2024

2023

Revenue

$     48,385

$     40,111

21 %

$   164,501

$   134,902

22 %

Costs and expenses

25,020

23,727

5 %

95,121

88,151

8 %

Income from operations

$     23,365

$     16,384

43 %

$     69,380

$     46,751

48 %

Operating margin

48 %

41 %

42 %

35 %

Provision for income taxes

$       2,715

$      2,791

(3) %

$       8,303

$       8,330

— %

Effective tax rate

12 %

17 %

12 %

18 %

Net income

$     20,838

$    14,017

49 %

$     62,360

$     39,098

59 %

Diluted earnings per share (EPS)

$         8.02

$        5.33

50 %

$       23.86

$       14.87

60 %

 

Fourth Quarter and Full Year 2024 Operational and Other Financial Highlights

Family daily active people (DAP) – DAP was 3.35 billion on average for December 2024, an increase of 5% year-over-year.Ad impressions – Ad impressions delivered across our Family of Apps increased by 6% and 11% year-over-year for the fourth quarter and full year 2024, respectively.Average price per ad – Average price per ad increased by 14% and 10% year-over-year for the fourth quarter and full year 2024, respectively.Revenue – Revenue was $48.39 billion and $164.50 billion, representing increases of 21% and 22% year-over-year for the fourth quarter and full year 2024, respectively. Revenue on a constant currency basis would have increased 21% and 23% year-over-year for the fourth quarter and full year 2024, respectively.Costs and expenses – Total costs and expenses were $25.02 billion and $95.12 billion, representing increases of 5% and 8% year-over-year for the fourth quarter and full year 2024, respectively. The fourth quarter costs and expenses included a favorable impact of $1.55 billion due to a decrease in the accrued losses for certain legal proceedings.Capital expenditures – Capital expenditures, including principal payments on finance leases, were $14.84 billion and $39.23 billion for the fourth quarter and full year 2024, respectively.Capital return program – Share repurchases of our Class A common stock were nil and $29.75 billion, and total dividend and dividend equivalent payments were $1.27 billion and $5.07 billion for the fourth quarter and full year 2024, respectively.Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $77.81 billion as of December 31, 2024. Free cash flow was $13.15 billion and $52.10 billion for the fourth quarter and full year 2024, respectively.Long-term debt – Long-term debt was $28.83 billion as of December 31, 2024.Headcount – Headcount was 74,067 as of December 31, 2024, an increase of 10% year-over-year.

 

CFO Outlook Commentary

We expect first quarter 2025 total revenue to be in the range of $39.5-41.8 billion. This reflects 8-15% year-over-year growth, or 11-18% growth on a constant currency basis as our guidance assumes foreign currency is an approximately 3% headwind to year-over-year total revenue growth, based on current exchange rates. This also reflects the effect of lapping leap day in the first quarter of 2024. While we are not providing a full year 2025 revenue outlook, we expect the investments we are making in our core business this year will give us an opportunity to continue delivering strong revenue growth throughout 2025.

We expect full year 2025 total expenses to be in the range of $114-119 billion. We expect the single largest driver of expense growth in 2025 to be infrastructure costs, driven by higher operating expenses and depreciation(1). We expect employee compensation to be the second-largest factor as we add technical talent in the priority areas of infrastructure, monetization, Reality Labs, generative artificial intelligence (AI), as well as regulation and compliance.

We anticipate our full year 2025 capital expenditures will be in the range of $60-65 billion. We expect capital expenditures growth in 2025 will be driven by increased investment to support both our generative AI efforts and core business. The majority of our capital expenditures in 2025 will continue to be directed to our core business.

Absent any changes to our tax landscape, we expect our full year 2025 tax rate to be in the range of 12-15%.

In addition, we continue to monitor an active regulatory landscape, including legal and regulatory headwinds in the EU and the U.S. that could significantly impact our business and our financial results.

________________________

(1) In January 2025, we completed an assessment of the useful lives of certain servers and network assets, which resulted in an increase in their estimated useful life to 5.5 years, effective beginning fiscal year 2025. Based on the servers and network assets placed in service as of December 31, 2024, we expect this change in accounting estimate will reduce our full year 2025 depreciation expense by approximately $2.9 billion. This is factored into our outlook.

 

Webcast and Conference Call Information

Meta will host a conference call to discuss the results at 2:00 p.m. PT / 5:00 p.m. ET today. The live webcast of Meta’s earnings conference call can be accessed at the Meta Investor Relations website at  investor.atmeta.com, along with the earnings press release, financial tables, and slide presentation.

Following the call, a replay will be available at the same website. Transcripts of conference calls with publishing equity research analysts held today will also be posted to the investor.atmeta.com website.

 

Disclosure Information

Meta uses the investor.atmeta.com and about.fb.com/news/ websites as well as Mark Zuckerberg’s Facebook Page (facebook.com/zuck), Instagram account (instagram.com/zuck) and Threads profile (threads.net/zuck) as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

 

About Meta

Meta is building the future of human connection and the technology that makes it possible. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram, and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.

 

Contacts

Investors:
Kenneth Dorell
investor@meta.com / investor.atmeta.com

Press:
Ashley Zandy
press@meta.com / about.fb.com/news/

 

Forward-Looking Statements

This press release contains forward-looking statements regarding our future business plans and expectations. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: the impact of macroeconomic conditions on our business and financial results, including as a result of geopolitical events; our ability to retain or increase users and engagement levels; our reliance on advertising revenue; our dependency on data signals and mobile operating systems, networks, and standards that we do not control; changes to the content or application of third-party policies that impact our advertising practices; risks associated with new products and changes to existing products as well as other new business initiatives, including our artificial intelligence initiatives and metaverse efforts; our emphasis on community growth and engagement and the user experience over short-term financial results; maintaining and enhancing our brand and reputation; our ongoing privacy, safety, security, and content and advertising review and enforcement efforts; competition; risks associated with government actions that could restrict access to our products or impair our ability to sell advertising in certain countries; litigation and government inquiries; privacy, legislative, and regulatory concerns or developments; risks associated with acquisitions; security breaches; our ability to manage our scale and geographically-dispersed operations; and market conditions or other factors affecting the payment of dividends. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q filed with the SEC on October 31, 2024, which is available on our Investor Relations website at investor.atmeta.com and on the SEC website at www.sec.gov. Additional information will also be set forth in our Annual Report on Form 10-K for the year ended December 31, 2024. In addition, please note that the date of this press release is January 29, 2025, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.

For a discussion of limitations in the measurement of certain of our community metrics, see the section entitled “Limitations of Key Metrics and Other Data” in our most recent quarterly or annual report filed with the SEC.

 

Non-GAAP Financial Measures 

To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States (GAAP), we use the following non-GAAP financial measures: revenue excluding foreign exchange effect, advertising revenue excluding foreign exchange effect, and free cash flow. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In addition, these measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures.

We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business.

Our non-GAAP financial measures are adjusted for the following items:

Foreign exchange effect on revenue. We translated revenue for the three months and full year ended December 31, 2024 using the prior year’s monthly exchange rates for our settlement or billing currencies other than the U.S. dollar, which we believe is a useful metric that facilitates comparison to our historical performance.

Purchases of property and equipment; Principal payments on finance leases. We subtract both purchases of property and equipment, and principal payments on finance leases in our calculation of free cash flow because we believe that these two items collectively represent the amount of property and equipment we need to procure to support our business, regardless of whether we procure such property or equipment with a finance lease. We believe that this methodology can provide useful supplemental information to help investors better understand underlying trends in our business. Free cash flow is not intended to represent our residual cash flow available for discretionary expenditures.

For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please see the “Reconciliation of GAAP to Non-GAAP Results” table in this press release.

 

META PLATFORMS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In millions, except per share amounts)

(Unaudited)

Three Months Ended December 31,

Twelve Months Ended December 31,

2024

2023

2024

2023

Revenue

$            48,385

$            40,111

$          164,501

$          134,902

Costs and expenses:

Cost of revenue

8,839

7,695

30,161

25,959

Research and development

12,180

10,517

43,873

38,483

Marketing and sales

3,240

3,226

11,347

12,301

General and administrative (1)

761

2,289

9,740

11,408

Total costs and expenses

25,020

23,727

95,121

88,151

Income from operations

23,365

16,384

69,380

46,751

Interest and other income, net

188

424

1,283

677

Income before provision for income taxes

23,553

16,808

70,663

47,428

Provision for income taxes

2,715

2,791

8,303

8,330

Net income

$            20,838

$            14,017

$            62,360

$            39,098

Earnings per share:

Basic

$                8.24

$                5.46

$              24.61

$              15.19

Diluted

$                8.02

$                5.33

$              23.86

$              14.87

Weighted-average shares used to compute earnings per share:                                

Basic

2,529

2,566

2,534

2,574

Diluted

2,599

2,630

2,614

2,629

____________________________________

(1) The fourth quarter 2024 general and administrative expenses include a favorable impact of $1.55 billion due to a decrease in the accrued losses for certain legal

proceedings.

 

META PLATFORMS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions)

(Unaudited)

December 31, 2024

December 31, 2023

Assets

Current assets:

Cash and cash equivalents

$                  43,889

$                  41,862

Marketable securities

33,926

23,541

Accounts receivable, net

16,994

16,169

Prepaid expenses and other current assets

5,236

3,793

Total current assets

100,045

85,365

Non-marketable equity securities

6,070

6,141

Property and equipment, net

121,346

96,587

Operating lease right-of-use assets

14,922

13,294

Goodwill

20,654

20,654

Other assets

13,017

7,582

Total assets

$                276,054

$                229,623

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable

$                    7,687

$                    4,849

Operating lease liabilities, current

1,942

1,623

Accrued expenses and other current liabilities                                                                                                                           

23,967

25,488

Total current liabilities

33,596

31,960

Operating lease liabilities, non-current

18,292

17,226

Long-term debt

28,826

18,385

Long-term income taxes

9,987

7,514

Other liabilities

2,716

1,370

Total liabilities

93,417

76,455

Commitments and contingencies

Stockholders’ equity:

Common stock and additional paid-in capital

83,228

73,253

Accumulated other comprehensive loss

(3,097)

(2,155)

Retained earnings

102,506

82,070

Total stockholders’ equity

182,637

153,168

Total liabilities and stockholders’ equity

$                276,054

$                229,623

 

META PLATFORMS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

Three Months Ended
December 31,

Twelve Months Ended
December 31,

2024

2023

2024

2023

Cash flows from operating activities

Net income

$       20,838

$       14,017

$       62,360

$       39,098

Adjustments to reconcile net income to net cash provided by operating activities:                                 

Depreciation and amortization

4,460

3,172

15,498

11,178

Share-based compensation

4,262

3,424

16,690

14,027

Deferred income taxes

(1,332)

(1,161)

(4,738)

131

Impairment charges for facilities consolidation

94

1,091

383

2,432

Data center assets abandonment

7

(224)

Other

169

124

87

635

Changes in assets and liabilities:

Accounts receivable

(2,978)

(2,843)

(1,485)

(2,399)

Prepaid expenses and other current assets

(530)

700

(698)

559

Other assets

(200)

(111)

(270)

(80)

Accounts payable

568

595

373

51

Accrued expenses and other current liabilities

1,523

(274)

323

5,081

Other liabilities

1,114

663

2,805

624

Net cash provided by operating activities

27,988

19,404

91,328

71,113

Cash flows from investing activities

Purchases of property and equipment

(14,425)

(7,592)

(37,256)

(27,045)

Purchases of marketable securities

(10,898)

(1,171)

(25,542)

(2,982)

Sales and maturities of marketable securities

3,817

2,359

15,789

6,184

Acquisitions of businesses and intangible assets

(9)

(64)

(270)

(629)

Other investing activities

17

(4)

129

(23)

Net cash used in investing activities

(21,498)

(6,472)

(47,150)

(24,495)

Cash flows from financing activities

Taxes paid related to net share settlement of equity awards

(3,857)

(2,223)

(13,770)

(7,012)

Repurchases of Class A common stock

(5,942)

(30,125)

(19,774)

Payments for dividends and dividend equivalents

(1,269)

(5,072)

Proceeds from issuance of long-term debt, net

10,432

8,455

Principal payments on finance leases

(411)

(307)

(1,969)

(1,058)

Other financing activities

72

71

(277)

(111)

Net cash used in financing activities

(5,465)

(8,401)

(40,781)

(19,500)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash 

(714)

396

(786)

113

Net increase in cash, cash equivalents, and restricted cash

311

4,927

2,611

27,231

Cash, cash equivalents, and restricted cash at beginning of the period

45,127

37,900

42,827

15,596

Cash, cash equivalents, and restricted cash at end of the period

$       45,438

$       42,827

$       45,438

$       42,827

Reconciliation of cash, cash equivalents, and restricted cash to the

condensed consolidated balance sheets

Cash and cash equivalents

$       43,889

$       41,862

$       43,889

$       41,862

Restricted cash, included in prepaid expenses and other current assets

353

99

353

99

Restricted cash, included in other assets

1,196

866

1,196

866

Total cash, cash equivalents, and restricted cash

$       45,438

$       42,827

$       45,438

$       42,827

META PLATFORMS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

Three Months Ended
December 31,

Twelve Months Ended
December 31,

2024

2023

2024

2023

Supplemental cash flow data

Cash paid for income taxes, net

$         2,227

$         4,591

$       10,554

$         6,607

Cash paid for interest, net of amounts capitalized

$            131

$            146

$            486

$            448

Non-cash investing and financing activities:

 

Property and equipment in accounts payable and accrued expenses and

other current liabilities

$         7,127

$         4,105

$         7,127

$         4,105

Acquisition of businesses and intangible assets in accrued expenses and

other current liabilities and other liabilities

$            172

$            119

$            172

$            119

Repurchases of Class A common stock in accrued expenses and other

current liabilities

$               —

$            474

$               —

$            474

 

Segment Results

We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes our virtual, augmented, and mixed reality related consumer hardware, software, and content.

The following table presents our segment information of revenue and income (loss) from operations: 

 

Segment Information

(In millions)

(Unaudited)

Three Months Ended
December 31,

Twelve Months Ended
December 31,

2024

2023

2024

2023

Revenue:

Advertising

$           46,783

$           38,706

$          160,633

$          131,948

Other revenue

519

334

1,722

1,058

Family of Apps

47,302

39,040

162,355

133,006

Reality Labs

1,083

1,071

2,146

1,896

Total revenue

$           48,385

$           40,111

$          164,501

$         134,902

Income (loss) from operations:

Family of Apps

$           28,332

$           21,030

$           87,109

$           62,871

Reality Labs

(4,967)

(4,646)

(17,729)

(16,120)

Total income from operations

$           23,365

$           16,384

$           69,380

$           46,751

Reconciliation of GAAP to Non-GAAP Results

(In millions, except percentages)

(Unaudited)

Three Months Ended
December 31,

Twelve Months Ended
December 31,

2024

2023

2024

2023

GAAP revenue

$           48,385

$           40,111

$          164,501

$         134,902

Foreign exchange effect on 2024 revenue using 2023 rates

65

874

Revenue excluding foreign exchange effect

$           48,450

$          165,375

GAAP revenue year-over-year change %

21 %

22 %

Revenue excluding foreign exchange effect year-over-year change %

21 %

23 %

GAAP advertising revenue

$           46,783

$           38,706

$          160,633

$         131,948

Foreign exchange effect on 2024 advertising revenue using 2023 rates

81

880

Advertising revenue excluding foreign exchange effect

$           46,864

$          161,513

GAAP advertising revenue year-over-year change %

21 %

22 %

Advertising revenue excluding foreign exchange effect year-over-year change %     

21 %

22 %

Net cash provided by operating activities

$           27,988

$           19,404

$           91,328

$           71,113

Purchases of property and equipment

(14,425)

(7,592)

(37,256)

(27,045)

Principal payments on finance leases

(411)

(307)

(1,969)

(1,058)

Free cash flow

$           13,152

$           11,505

$           52,103

$           43,010

 

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EPWK HOLDINGS LTD. Announces Pricing of Initial Public Offering

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XIAMEN, China, Feb. 6, 2025 /PRNewswire/ — EPWK HOLDINGS LTD. (the “Company”) (NasdaqGM: EPWK), a company that connects businesses with great talents through innovative and efficient cloud-sourcing platforms, announced the pricing of its initial public offering (the “Offering”) of 2,750,000 Class A ordinary shares at a public offering price of $4.10 per share. The Class A ordinary shares start trading on Nasdaq Global Market under the ticker symbol “EPWK” on February 6, 2025.

The Company will receive aggregate gross proceeds of $11.275 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters an option, exercisable within 30 days after the closing of the Offering, to purchase up to an additional 412,500 Class A ordinary shares at the public offering price, less underwriting discounts and commissions. The Offering was conducted on a firm commitment basis.

Proceeds from the Offering will be used for business development and marketing, research and development, exploration of new product and service offerings and the creation of an online global design center, and general corporate purposes and working capital.

Cathay Securities, Inc. acted as the representative of the underwriters, with Revere Securities LLC acting as co-underwriter (collectively, the “Underwriters”) for the Offering. VCL Law LLP served as counsel to the Company. Winston & Strawn LLP served as counsel to the Underwriters.

The Offering was conducted pursuant to the Company’s Registration Statement on Form F-1, as amended (File No. 333-269657) (the “Registration Statement”), previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on February 3, 2025. The Offering was made only by means of a prospectus, forming a part of the Registration Statement. A final prospectus relating to the Offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from Cathay Securities, Inc. at 40 Wall Street, Suite 3600, New York, NY 10005, or by telephone at +1 (855) 939-3888.

This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About EPWK HOLDINGS LTD.

The Company connects businesses with outstanding talent through an innovative and efficient integrated crowdsourcing platform, providing creative transaction services for small and medium-sized enterprises and suppliers. The Company was founded by Huang Guohua, former chief reporter of Fujian Daily Press Group, and conducts its operations through its subsidiaries and contractual arrangements with the variable interest entity in China. For more information, please visit the Company’s website: www.epwk.com

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

For more information, please contact:

Investor Relations
EPWK HOLDINGS LTD.
Phone: +86 0592-5978725
Email: chenyanjun@epwk.com

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SIMONA AMERICA Group Advances Sustainability Commitments with SBTi Validation As Part of SIMONA AG

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Reduction of CO2 emissions by 42% by 2030 (Scope 1 and 2)SIMONA’s contribution to restricting global warming to 1.5 degreesSignificant milestone in the execution of SIMONA’s sustainability strategy

ATLANTA, Feb. 6, 2025 /PRNewswire/ — SIMONA AMERICA Group, a subsidiary of SIMONA AG, is proud to announce that the company’s ambitious greenhouse gas (GHG) reduction targets have been officially validated by the Science Based Targets initiative (SBTi). This milestone underscores SIMONA’s commitment to reducing its environmental footprint and contributing to the global effort to limit temperature rise to 1.5 degrees Celsius.

SIMONA first signed up to the Science Based Target initiative (SBTi) at the beginning of 2024. The rationale behind this move was to ensure an effective reduction in the company’s carbon footprint, while also making a positive contribution to global climate change mitigation. In joining the SBTi, SIMONA has taken responsibility for the environment and set itself long-term goals that are both quantifiable and based on scientific principles.

As part of these science-based targets, SIMONA has pledged to reduce Scope 1 and Scope 2 emissions by 42% in absolute terms by 2030, using 2022 as the baseline year. Additionally, the company has committed to reducing Scope 3 emissions from purchased goods and services by 51.6% per ton of manufactured product within the same timeframe. The SBTi has recognized these targets as ambitious and aligned with the latest climate science and objectives of the Paris Agreement.

“The SBTi’s confirmation of our climate targets is a significant achievement within our sustainability strategy. It illustrates that we are on the right track when it comes to making a genuine contribution to global climate change mitigation. Working closely with our partners and customers, we are doing everything in our power to achieve our goals in a determined and effective manner,” said Johannes Kappler, Head of Sustainability at SIMONA AG.

At SIMONA AMERICA Group, sustainability remains a top priority across all facilities, operations, and product offerings. Through the increased use of renewable energy, process efficiency improvements, and material innovation—including the expansion of the TERREFORM® line for the aerospace industry and the installation of more than 3,300 solar panels at the Archbald, PA facility—SIMONA AMERICA Group is actively contributing to the company’s broader carbon reduction goals.

“SIMONA has started its sustainability journey much like every other company—by gathering a baseline for carbon accounting,” said Autumn Werner, Sustainability Manager for SIMONA AMERICA Group. “However, with SBTi validation, we have also added accountability to ensure that our efforts lead to real emission reductions while supporting the global goal of restricting warming to 1.5 degrees.”

Werner further emphasized the importance of industry-wide collaboration in sustainability: “SIMONA’s work towards becoming sustainable doesn’t just stop at products—it extends to real efforts across all of our facilities to drive meaningful emission reductions. The SBTi validation keeps us on track and aligns us with the many other companies committed to measurable, science-based climate action.”

To achieve these ambitious targets, SIMONA AMERICA Group is implementing specific initiatives, including transitioning to green electricity, optimizing production processes, and increasing the use of sustainable raw materials. Additionally, efforts to integrate post-industrial and customer waste into new products further reinforce the company’s circular economy approach.

The Science Based Targets initiative (SBTi) was established in 2015 as a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute (WRI), and the World Wildlife Fund (WWF). It provides companies with the framework to set rigorous emissions reduction targets in line with the latest climate science.

As SIMONA AMERICA Group continues to advance its sustainability strategy, the company remains committed to meaningful, science-backed actions that drive measurable impact for the environment and the industries it serves.

About SIMONA AMERICA Group

SIMONA AMERICA Group is a diversified manufacturer of high-quality thermoplastic products designed to provide innovative solutions and world-class customer service throughout the United States. As a subsidiary of SIMONA AG, the company is dedicated to sustainability, excellence, and advancing material technologies across multiple industries.

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SOURCE SIMONA AMERICA Group

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Walter P Moore receives ACEC California top award for CAA ICON’s Intuit Dome

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SACRAMENTO, Calif., Feb. 6, 2025 /PRNewswire/ — Last night, the American Council of Engineering Companies of California (ACEC California) announced that Walter P Moore has won the prestigious Golden State Award for their work on the Intuit Dome located in Inglewood, California.

Intuit Dome realized owner Steve Ballmer’s vision for the NBA Los Angeles Clippers to play in an iconic venue within a complex that houses all team functions under a single roof. The 18,000-seat arena is the NBA’s most environmentally friendly arena and benefits the Inglewood community year-round. The venue anchors a 1.14 million-square-foot facility including state-of-the-art practice and training facilities, team offices, fan gathering spaces, and indoor and outdoor basketball courts open to the public. The distinctive diagrid shell roof, covered in diamond-shaped ETFE and PTFE fabric panels, is designed to resemble a basketball net, making Intuit Dome stand out from other NBA arenas.

Walter P Moore’s team of structural, enclosure, seismic, and construction engineering specialists blended their expertise to optimize the roof geometry, connections, and panel layouts to achieve the goals of strength, beauty, and practicality. Seismic safety was a concern because the site is 1.25 miles from the Newport-Inglewood Fault.

The team created an elegant and ingenious solution that allows the light diagrid shell to behave independently from the much stiffer main arena structure that supports it during a seismic event. They connected the diagrid shell to the arena roof at its top and then laterally supported it at node points down its height with innovative toggle-brace connections. The toggle-braces provide lateral and gravity support while allowing the shell to “swish like a hula skirt” around the more rigid brace frame structure. Intuit Dome also features an enormous one-of-a-kind “Halo” board, a one-million pound, 360-degree, double-sided video board with retractable end pieces that are suspended from the roof, along with state-of-the-art rigging and catwalk systems that enhance the venue’s capabilities.

Intuit Dome is a fully electric facility with sufficient solar panels and batteries to power the arena for an entire concert or basketball game. It is the first NBA arena to achieve LEED Platinum certification under LEED v4. Walter P Moore reduced embodied carbon in the concrete by over 20 percent by collaborating with the concrete supplier to obtain supply-chain-specific Environmental Produce Declarations for all concrete mixes; as a result, the concrete is 50 percent more energy efficient than required by the California Green Building Code.

The complex opened on budget and three months ahead of schedule in July 2024.

Congratulations, Walter P Moore, for capturing ACEC California’s 2025 Golden State Award!

Photographs of all Engineering Excellence Award-winning projects can be found at: 2025 Engineering Excellence Award Winners – American Council of Engineering Companies of California

About Walter P Moore
Walter P Moore is an international company of engineers, innovators, and creative people who solve some of the world’s most complex structural and infrastructure challenges. Providing structural, diagnostics, civil, traffic, parking, transportation, enclosure, technology consulting, and construction engineering services, they design solutions that are cost- and resource-efficient, forward-thinking, and help support and shape communities worldwide. Founded in 1931 and headquartered in Houston, Texas, Walter P Moore’s 900+ professionals work across 24 U.S. offices and seven international locations. For more information, visit www.walterpmoore.com, or follow Walter P Moore on LinkedIn, X (Formerly Twitter), Facebook or Instagram.

About ACEC California
ACEC California is a 70+ year-old, nonprofit association of private consulting engineering and land surveying firms. As a statewide organization, we are dedicated to enhancing the consulting engineering and land surveying professions, protecting the general public, and promoting use of the private sector professionals in the growth and development of our state. Follow us on Social Media: Instagram | Facebook | X (Formerly Twitter) | LinkedIn 

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SOURCE American Council of Engineering Companies, California

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