Core Insights - Movado Group, Inc. reported third quarter net sales of $186.1 million, reflecting a 3.1% increase from $180.5 million in the same quarter of fiscal 2025 [1] - The company achieved a gross margin of 54.3%, which is an expansion of 80 basis points compared to 53.5% in the third quarter of fiscal 2025 [1] - Operating income for the third quarter reached $11.7 million, nearly doubling from $6.0 million in the prior year’s third quarter [1]

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Core Viewpoint - Movado Group, Inc. is set to discuss its third quarter fiscal year 2026 earnings results in a conference call scheduled for November 25, 2025, at 9:00 a.m. Eastern Time [1] Company Information - The conference call will be hosted by Efraim Grinberg, Chairman and Chief Executive Officer, along with Salli [1] - A press release detailing the third quarter fiscal year 2026 results will be issued before the market opens and prior to the call [1]

Group 1 - Movado Group, Inc. operates in a cyclical business that is sensitive to macroeconomic conditions, particularly in the context of a potential recession [1] - The current economic climate is perceived to be on the brink of a recession, which may impact consumer spending and demand for luxury goods [1] Group 2 - The company is analyzed from a value investing perspective, focusing on deep value plays and conservative financial metrics [1] - The investment strategy includes net current asset value analysis and discounted cash flow calculations to identify exceptional buying opportunities [1]

Core Insights - Movado launches the second chapter of its "Always in Motion" campaign, emphasizing its heritage and Swiss craftsmanship [1] - The campaign features a reunion of Movado Icons, including Ludacris, Jessica Alba, Christian McCaffrey, Julianne Moore, and Tyrese Haliburton, who are influential figures in culture and their respective fields [1] Company Strategy - The company aims to deepen its storytelling in the second year of the campaign, highlighting its long-standing history since 1881 [1] - Movado's President, Margot Grinberg, emphasizes the importance of celebrating the brand's legacy and craftsmanship in the campaign [1]

Group 1 - The decision was made to upgrade Movado Group, Inc. from a Hold to a soft Buy due to a decline in stock price prior to the upgrade [1] - The focus of Crude Value Insights is on cash flow and companies that generate it, highlighting value and growth prospects in the oil and natural gas sector [1] Group 2 - Subscribers have access to a 50+ stock model account and in-depth cash flow analyses of exploration and production firms [2] - A live chat discussion of the sector is available for subscribers, enhancing community engagement [2] - A two-week free trial is offered to new subscribers, promoting engagement with the oil and gas sector [3]

Financial Data and Key Metrics Changes - The company reported a significant improvement in normalized earnings before tax, which increased by 61% year on year, with the strongest quarterly result in two years in Q4 FY 'twenty five [5][19] - Net loss after tax reduced by $32.5 million to $15.6 million, showing consistent improvement throughout the year [17] - Operating cash flow increased by 35% to $25.3 million, with adjusted net operating cash flow of $300,000 [21] Business Line Data and Key Metrics Changes - The freight and fuel business experienced a turnaround, with normalized earnings loss improving by 90% year on year, moving to a positive result in Q4 FY 'twenty five [11] - Warehousing faced ongoing challenges, with aggressive pricing tactics leading to reduced storage costs below pre-COVID levels [12][13] - The specialist business performed well, particularly in infrastructure projects, with a healthy pipeline for the next two years [14] Market Data and Key Metrics Changes - The company retained revenue despite low demand in a highly competitive market, with ongoing economic headwinds affecting business and consumer confidence [8][10] - The interisland ferry service disruption and extreme weather events further impacted market activity [9] Company Strategy and Development Direction - The company is transitioning from cost reduction to value creation as part of its Accelerate transformation program, which has one year remaining [6][25] - The focus is on building value in the freight business, improving warehousing performance, and enhancing customer service [23][24] - The company aims to become the preferred logistics provider in New Zealand, supported by a strong national network and partnerships [22] Management Comments on Operating Environment and Future Outlook - Management acknowledged the uncertainty in the timing and speed of economic recovery but expressed confidence in the company's positioning for future growth [24][25] - The sentiment among partners is starting to lift slightly, indicating potential for improved market conditions [10] Other Important Information - The company has established a new funding partnership and extended its bank facility through August 2026, ensuring adequate capital for operations and growth [20] - A significant reduction in operating expenses of $27 million was achieved, with labor savings of approximately $15 million [17][18] Q&A Session Summary Question: Will there be any months in FY 'twenty six with positive net profit after tax? - Management indicated that while they cannot specify exact months, they have a clear plan and forecast, with expectations of ramping up activity after slower months [26] Question: Is a capital raise likely given the erosion of equity and uncertain net profit? - Management stated they expect a positive EBT but are focused on ensuring adequate capital for business operations and growth [27] Question: What is the EBT range guidance for the coming year? - Management refrained from providing specific guidance due to economic uncertainty but confirmed a return to positive EBT in FY 'twenty six [28] Question: Can management provide clarity on core freight revenue and margin amidst the realignment of fuel services? - Management declined to share specific details on core freight results, citing confidentiality regarding customer relationships [29] Question: No further questions were raised during the session. - The operator confirmed there were no additional questions, concluding the conference [31]

Financial Data and Key Metrics Changes - The company reported a significant improvement in normalized earnings before tax, which increased by 61% year on year, marking the strongest quarterly normalized EBT result in two years [5][19] - Gross margin percentage improved by 4.1 percentage points, with gross margin dollars up 13.4%, indicating effective cost management and efficiency programs [6][18] - The net loss after tax reduced by $32.5 million to $15.6 million, showing consistent improvement throughout the year [17] Business Line Data and Key Metrics Changes - The freight and fuel business experienced a turnaround, with normalized earnings loss improving by 90% year on year, moving to a positive result in Q4 FY '25 [11] - Warehousing faced ongoing challenges due to increased industry capacity and aggressive pricing tactics, leading to a need for a reset in the business [12][13] - The specialist business performed well, particularly in infrastructure projects, with a healthy pipeline for the next two years [14] Market Data and Key Metrics Changes - The trading environment in FY '25 was challenging due to ongoing economic headwinds, low business and consumer confidence, and cost of living pressures [8] - Increased competitor activity and aggressive pricing were noted, particularly in the warehousing sector, leading to a glut in capacity [9][12] - Despite these challenges, there are signs of improving sentiment among partners, indicating potential recovery [10] Company Strategy and Development Direction - The company is focused on transitioning from cost reduction to value creation as part of its Accelerate transformation program, which has one year remaining [6][22] - The New Horizons roadmap aims to establish the company as the preferred logistics provider in New Zealand by FY '28 [21] - Priorities include improving performance in warehousing, enhancing customer retention, and investing in technology for data-driven decisions [22][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertainty in the timing and speed of economic recovery but expressed confidence in the company's positioning and readiness for growth [23][24] - The focus on gross margin improvements is expected to provide a stronger foundation for future earnings growth [24] - Management is optimistic about returning to positive normalized EBT in FY '26 [24] Other Important Information - The company has established a new funding partnership and extended its bank facility through August 2026, ensuring adequate capital for operations and growth [19][20] - A significant reduction in operating expenses of $27 million was achieved, with labor savings of approximately $15 million [17][18] Q&A Session Summary Question: Will there be any months in FY '26 with positive net profit after tax? - Management could not specify exact months but indicated a clear plan and forecast, noting that the freight and logistics sector typically ramps up after slower months [25] Question: Is a capital raise likely given the erosion of equity and uncertain net profit? - Management stated that while they expect positive EBT, they are focused on ensuring adequate capital for business operations and growth [26][27] Question: What is the EBT range guidance for the coming year? - Management refrained from providing specific guidance due to economic uncertainty but confirmed a return to positive EBT in FY '26 [28] Question: Can management provide clarity on core freight revenue and margin after the realignment of fuel services? - Management declined to share specific details on core freight results, citing confidentiality regarding customer data [29][30]

Financial Performance - MOVE Logistics Group's FY25 revenue was NZD 286.3 million [58] - Normalised Earnings Before Tax (NEBT) improved by 61.1% year-over-year [17, 28], representing a NZD 15.7 million increase [59] - Gross Margin increased by 13.4% to NZD 83.5 million [18, 25], with Gross Margin percentage up by 4.1 percentage points to 29.2% [18, 26] - Net Loss After Tax (NLAT) improved by NZD 32.5 million [59] to NZD -15.6 million [58] Transformation Programme & Cost Reduction - The "Accelerate Transformation Programme" delivered approximately NZD 27 million in cost reductions in FY25 [22, 60] - People costs decreased by approximately NZD 15 million [62] - Transport costs, as a percentage of Freight revenue, decreased by 5.1 percentage points [62] Business Segment Performance - Freight and Fuel segment revenue was NZD 188.8 million [35, 36], with a 90% improvement in NEBT loss [21, 39] - Specialist segment revenue increased to NZD 18.2 million [47, 48], with Normalised EBT at NZD 2.3 million [47, 49] - International segment revenue increased to NZD 25.7 million [53, 54], with Normalised EBT at NZD 0.3 million [53, 55] Future Outlook - The company is targeting a return to positive normalised EBT in FY26 [80]

Core Viewpoint - Movado Group is conducting its second quarter fiscal 2026 earnings call, indicating a focus on financial performance and strategic direction for the upcoming period [1]. Group 1: Company Leadership - The call features key company participants including Efraim Grinberg, Chairman and CEO, and Sallie A. DeMarsilis, Executive VP and CFO, highlighting the leadership's involvement in discussing financial results [2][5]. Group 2: Forward-Looking Statements - The company emphasizes that statements made during the call may be forward-looking and are subject to risks and uncertainties, as outlined in their SEC filings [3][4].