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    Ben Klieve • Lake Street Capital Markets

    Ben Klieve's questions to TAT Technologies Ltd (TATT) leadership

    Ben Klieve's questions to TAT Technologies Ltd (TATT) leadership • Q2 2025

    Question

    Ben Klieve from Lake Street Capital Markets questioned the outlook for the APU pipeline on 777 and A320 airframes, management's comfort with M&A valuations, and expectations for the trading and leasing segment.

    Answer

    CEO & President Igal Zamir confirmed the 777 APU is now in the backlog but work on A320s remains on a one-off basis. On M&A, he stressed a disciplined approach, only pursuing acquisitions with reasonable valuations that add shareholder value. For trading and leasing, Zamir explained that leasing is steady with all assets deployed, while trading is lumpier due to the difficulty of sourcing assets and the need to balance operational capacity with core MRO customer demand.

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    Ben Klieve's questions to Vital Farms Inc (VITL) leadership

    Ben Klieve's questions to Vital Farms Inc (VITL) leadership • Q2 2025

    Question

    Ben Klieve asked if the company's recent success in expanding its family farm network alters the strategic need or philosophy behind the Accelerator Farms program.

    Answer

    CEO Russell Diez-Canseco clarified that the purpose of Accelerator Farms is not primarily for egg supply but to serve as a research and development hub. He explained that their goal is to test new technologies and techniques on the company's dime, which can then be leveraged to improve the performance, profitability, and animal welfare across the entire growing network of family farms, making the program even more important as the network scales.

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    Ben Klieve's questions to Andersons Inc (ANDE) leadership

    Ben Klieve's questions to Andersons Inc (ANDE) leadership • Q2 2025

    Question

    Ben Klieve of Lake Street Capital Markets asked about the timing of the ethanol plant acquisition in relation to regulatory tailwinds, the potential for unlocking additional capacity, the nature of recent non-strategic business exits in the Agribusiness segment, and the outlook for the mix between grain merchandising and storage.

    Answer

    President & CEO William Krueger stated the ethanol transaction had been in progress for months and was not directly driven by recent regulatory changes. He noted a pending Class 6 well permit could unlock future capacity. EVP & CFO Brian Valentine detailed the Agribusiness exits, which included minority investments, the sale of a facility, and the closure of some contract manufacturing. William Krueger added that the upcoming large corn harvest should improve opportunities for both storage and merchandising in the second half of the year.

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    Ben Klieve's questions to Blade Air Mobility Inc (BLDE) leadership

    Ben Klieve's questions to Blade Air Mobility Inc (BLDE) leadership • Q2 2025

    Question

    Ben Klieve of Lake Street Capital Markets questioned if the divestiture process was a broad search or specifically focused on Joby Aviation, and asked for details on the $7 million in corporate cost efficiencies expected from the sale.

    Answer

    CEO Rob Wiesenthal confirmed the company ran a "sweeping process" involving various potential buyers, including OEMs, luxury goods companies, and private equity, but concluded Joby was the best strategic fit for both the passenger business and as an eVTOL partner for the medical division. VP of Investor Relations Matt Schneider clarified that the $7 million in efficiencies represents costs previously in unallocated expenses that were directly associated with the passenger business, such as specific staff, IT, and lease costs.

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    Ben Klieve's questions to MGP Ingredients Inc (MGPI) leadership

    Ben Klieve's questions to MGP Ingredients Inc (MGPI) leadership • Q2 2025

    Question

    Ben Klieve from Lake Street Capital Markets requested an update on the export market challenges for the Ingredient Solutions segment, specifically for specialty proteins, and asked to isolate the contribution from new domestic customers.

    Answer

    CFO Brandon Gall and Corporate Controller Mark Davidson explained that the team successfully re-commercialized the Arise specialty protein line in North America after a key export partner in Japan slowed purchases. Davidson highlighted that specialty protein sales grew 13% year-over-year due to replacing lost export volume with new domestic customers, which was the primary driver of the segment's sequential and year-over-year growth.

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    Ben Klieve's questions to Mission Produce Inc (AVO) leadership

    Ben Klieve's questions to Mission Produce Inc (AVO) leadership • Q2 2025

    Question

    Ben Klieve of Lake Street Capital Markets inquired about the second-half outlook for the International Farming segment, focusing on Peruvian fruit quality and sizing. He also asked about the use of co-packers in Q2, the impact of tariff uncertainty on supply chain behavior, and the growth trajectory and market share of the mango business.

    Answer

    CEO Steve Barnard and COO John Pawlowski confirmed that Peruvian fruit quality and sizing are expected to be good, with production exceeding expectations. They noted that reliance on co-packers decreased through Q2 as fruit from California and early-season Peru became available, and they are adding internal capacity in Mexico to mitigate future issues. Pawlowski described initial supplier skittishness due to tariff uncertainty in early 2025, which has since normalized. Regarding mangoes, Barnard stated Mission is now the #2 US distributor, with Pawlowski adding that market share has grown from under 5% to nearly 10% in the past year, with significant room for growth via maturing farms and new grower relationships.

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