Lennar(LEN_B) - 2025 Q4 - Annual Results
2025-12-16 21:33
Exhibit 99.1 Contact: Ian Frazer Investor Relations Lennar Corporation (305) 485-4129 FOR IMMEDIATE RELEASE Lennar Reports Fourth Quarter and Fiscal 2025 Results 2025 Fourth Quarter Highlights 2025 Fiscal Year Highlights (more) • Net earnings per diluted share of $1.93; $2.03 excluding adjustments of: ◦ $123 million mark-to-market gains on technology investments, and ◦ $156 million one-time loss on previously announced Millrose Properties, Inc. ("Millrose") exchange offer • Net earnings of $490 million • Ne ...
Lennar(LEN) - 2025 Q4 - Annual Results
2025-12-16 21:33
Exhibit 99.1 Contact: Ian Frazer Investor Relations Lennar Corporation (305) 485-4129 FOR IMMEDIATE RELEASE Lennar Reports Fourth Quarter and Fiscal 2025 Results 2025 Fourth Quarter Highlights 2025 Fiscal Year Highlights (more) • Net earnings per diluted share of $1.93; $2.03 excluding adjustments of: ◦ $123 million mark-to-market gains on technology investments, and ◦ $156 million one-time loss on previously announced Millrose Properties, Inc. ("Millrose") exchange offer • Net earnings of $490 million • Ne ...
Worthington Industries(WOR) - 2026 Q2 - Quarterly Results
2025-12-16 21:29
Financial Performance - Net sales for Q2 2026 were $327.5 million, an increase of 19% compared to Q2 2025[4] - Adjusted net earnings increased by 7% to $32.5 million, while net earnings decreased by 3% to $27.0 million[4] - Adjusted EBITDA grew 8% to $60.5 million, with operating income rising to $12.3 million from $3.5 million in the prior year[4][7] - Free cash flow improved by 15% to $39.1 million, up from $33.9 million in Q2 2025[4][11] - Operating cash flow for the quarter was $51.5 million, a 5% increase from $49.1 million in Q2 2025[4][11] - For the three months ended November 30, 2025, the GAAP net earnings were $27,328 thousand, with a diluted EPS of $0.55, while non-GAAP net earnings were $32,460 thousand, resulting in a diluted EPS of $0.65[35] - The adjusted EBITDA for the six months ended November 30, 2025, was $125,538 thousand, compared to $104,649 thousand for the same period in 2024, reflecting a year-over-year increase of approximately 20%[39] - Free cash flow for the three months ended November 30, 2025, was $39,086 thousand, up from $33,892 thousand in the same period of 2024, indicating a growth of about 15%[42] - The operating cash flow conversion for the six months ended November 30, 2025, was 148%, compared to 172% for the same period in 2024[42] Segment Performance - Building Products segment net sales increased by 31.9% to $207.5 million, driven by higher volumes and contributions from Elgen Manufacturing[14] - Consumer Products segment generated net sales of $119.9 million, a 2.7% increase over the prior year quarter[13] - The Building Products segment reported net sales of $207,528 thousand for the three months ended November 30, 2025, a 32.0% increase from $157,298 thousand in the same period of 2024[31] Assets and Liabilities - Total debt at quarter end was $305.3 million, with no borrowings under the revolving credit facility[12] - Total assets as of November 30, 2025, were $1,753,333 thousand, an increase from $1,695,152 thousand as of May 31, 2025[27] - Cash and cash equivalents decreased to $180,288 thousand from $250,075 thousand at the beginning of the period[29] Dividends and Shareholder Returns - The company declared a quarterly dividend of $0.19 per common share, payable on March 27, 2026[4] - Dividends declared per common share increased to $0.19 for the three months ended November 30, 2025, compared to $0.17 in the same period of 2024[25] Acquisitions and Investments - The company announced an agreement to acquire LSI Group for approximately $205 million, expected to close in January 2026[4][15] - The company’s investment in property, plant, and equipment for the three months ended November 30, 2025, was $12,432 thousand, compared to $15,161 thousand in the same period of 2024[42] Other Financial Metrics - Adjusted EBITDA margin for the consolidated results was 18.5% for the three months ended November 30, 2025, down from 20.5% in the same period of 2024[31] - The adjusted EBITDA margin for the three months ended November 30, 2025, was 18.5%, down from 20.5% in the same period of 2024[39] - The company reported a restructuring and other expense of $1,644 thousand for the three months ended November 30, 2025, which impacted the GAAP earnings[35] - The loss on the partial sale of investment in SES was $2,950 thousand for the three months ended November 30, 2025, affecting the overall earnings[35] - The net earnings attributable to controlling interest for the six months ended November 30, 2025, was $62,476 thousand, compared to $52,513 thousand in 2024, representing a year-over-year increase of approximately 19%[42]
Worthington Industries(WOR_V) - 2026 Q2 - Quarterly Results
2025-12-16 21:29
Worthington Enterprises Reports Second Quarter Fiscal 2026 Results COLUMBUS, Ohio (December 16, 2025) – Worthington Enterprises Inc. (NYSE: WOR), a designer and manufacturer of market-leading consumer and building products that improve everyday life by elevating spaces and experiences, today reported results for its fiscal 2026 second quarter ended November 30, 2025. Recent Developments and Second Quarter Highlights (all comparisons to the second quarter of fiscal 2025): "We delivered solid financial result ...
Hudson Acquisition I (HUDA) - 2025 Q3 - Quarterly Report
2025-12-16 19:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to _____________ Commission File Number: 001-41532 HUDSON ACQUISITION I CORP. (Exact Name of Registrant as Specified in Its Charter) | Delaware | 86- 271284 ...
Hudson Acquisition I Corp.(HUDAU) - 2025 Q3 - Quarterly Report
2025-12-16 19:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to _____________ Commission File Number: 001-41532 HUDSON ACQUISITION I CORP. (Exact Name of Registrant as Specified in Its Charter) | Delaware | 86- 271284 ...
CSP (CSPI) - 2025 Q4 - Annual Results
2025-12-16 14:28
Exhibit 99.1 CSPi Delivers 11% Revenue Growth and Expands Gross Margin During Fiscal Year 2025 Fourth Quarter from Prior Fiscal Year Fourth Quarter; Enters Fiscal 2026 with New Customer Momentum Across Business Units AZT PROTECTTM Continues to Increase Customer Base; Brand Awareness Initiatives Raise Expectations for Higher Customer Adoption During Fiscal 2026 Conference Call Today at 10 a.m. ET LOWELL, Mass., December 16, 2025 – CSP Inc. (NASDAQ: CSPI), an award-winning provider of security and packet capt ...
Kirkland's(KIRK) - 2026 Q3 - Quarterly Report
2025-12-16 14:10
Store Operations - As of November 1, 2025, the company operated 306 stores across 35 states, down from 325 stores the previous year, reflecting a decrease of 5.8% in store count[84][96] - The company experienced a 1.0% decrease in store units during the 13-week period ended November 1, 2025, with three store closures[96] - The average square footage per store increased slightly to 8,134 square feet as of November 1, 2025, compared to 8,109 square feet the previous year[96] Financial Performance - The company reported a net sales decline of 4.1% for the 39-week period ended November 1, 2025, compared to the same period in the previous year[96] - Net sales decreased 9.6% to $103.5 million for the third 13 weeks of fiscal 2025 compared to $114.4 million for the prior year period[1] - For the first 39 weeks of fiscal 2025, net sales decreased 10.8% to $260.8 million compared to $292.5 million for the prior year period[7] - Comparable sales decreased 7.4%, or $8.3 million, with store comparable sales increasing 1.7% while e-commerce comparable sales decreased 34.6%[1] Profitability and Loss - Gross profit as a percentage of net sales decreased 770 basis points from 28.1% to 20.4% in the same period, primarily due to unfavorable merchandise margin and increased store occupancy costs[2] - Net loss for the third 13 weeks of fiscal 2025 was $3.7 million, or a loss of $0.16 per diluted share, compared to a net loss of $7.7 million, or a loss of $0.59 per diluted share, in the prior year[5] - Gross profit margin for the first 39 weeks of fiscal 2025 decreased 570 basis points to 20.6%, mainly due to increased promotional activity[8] - The operating loss for the 39-week period ended November 1, 2025, was $31.253 million, compared to $23.223 million for the same period in 2024[121] Expenses and Cost Management - Operating expenses are a significant component of performance, with compensation and benefits comprising the majority of these costs[95] - Compensation and benefits as a percentage of net sales increased from 19.6% to 21.1% in the first 39 weeks of fiscal 2025[9] - Other operating expenses increased to 14.6% of net sales, primarily due to increased insurance costs related to a tornado[10] - The company implemented cost-saving initiatives, including reductions in corporate overhead, store payroll, and marketing expenses, to improve liquidity[126] Strategic Partnerships and Initiatives - The company entered into a strategic partnership with Bed Bath & Beyond, involving a $17.0 million term loan and an $8.0 million subscription agreement to support growth initiatives[85][86] - The company plans to close the proposed merger with Bed Bath & Beyond in the first quarter of fiscal 2026, pending shareholder and regulatory approvals[87] - The company entered into a partnership with Beyond, which included a $25 million investment through a combined debt and equity transaction[126] - The company has exclusive rights to operate small format stores under Bed Bath & Beyond trademarks, enhancing its market presence[85] Cash Flow and Liquidity - Net cash used in operating activities decreased to approximately $36.0 million in the first 39 weeks of fiscal 2025 from $39.0 million in the same period of fiscal 2024, primarily due to a $30.1 million reduction in inventory increase[132] - Cash flows from investing activities included $10.0 million from the sale of the Kirkland's brand name to Beyond, with total capital expenditures rising to $1.9 million in fiscal 2025 from $1.7 million in fiscal 2024[133] - Net cash provided by financing activities was $30.5 million in the first 39 weeks of fiscal 2025, compared to approximately $43.6 million in the same period of fiscal 2024, reflecting changes in borrowings and repayments[134] - The company has $20 million available under the Beyond Delayed Draw Term Loan Commitments as of December 15, 2025[131] Debt and Financial Position - The company has outstanding debt of $20.7 million and $5.8 million in outstanding letters of credit under its revolving credit facility as of December 15, 2025[130] - Borrowings on the revolving credit facility increased by $18.6 million in fiscal 2025, indicating a shift in financing strategy[134] - The company recognized a gain of $10 million from the sale of internally developed intangible assets during the 39-week period ended November 1, 2025[121] Risk Management - The company is focusing on improving its liquidity and capital resources amid challenging macroeconomic conditions, including inflation and high interest rates[89] - The company is exposed to interest rate changes due to borrowings under long-term debt agreements, which bear interest based on variable rates[138] - The company did not engage in any foreign exchange contracts or financial instruments as of November 1, 2025, indicating a conservative approach to market risk management[139] Other Notable Events - The company incurred $2.0 million in expenses related to damages from a tornado that impacted its Jackson, Tennessee distribution center[91] - The company incurred tornado-related costs, including write-offs of damaged inventory and expenses for repairs, impacting its financial results[124] - There were no material changes to critical accounting policies or estimates during the 39-week periods ended November 1, 2025[136] - As of February 1, 2025, the company was in compliance with financial covenants but faced substantial doubt about its ability to continue as a going concern for at least 12 months[127]
Kirkland's(KIRK) - 2026 Q3 - Quarterly Results
2025-12-16 14:06
Financial Performance - Net sales for Q3 2025 were $103.5 million, a decrease of 9.3% from $114.4 million in Q3 2024, driven by a 7.4% decline in consolidated comparable sales and a 6% reduction in store count[3] - Gross profit was $21.1 million, representing 20.4% of net sales, down from $32.1 million or 28.1% of net sales in the prior year quarter, primarily due to a decline in merchandise margin and increased occupancy costs[3] - The net loss for Q3 2025 was $3.7 million, or a loss of $0.16 per diluted share, an improvement from a net loss of $7.7 million, or a loss of $0.59 per diluted share in Q3 2024[6] - Adjusted net loss for Q3 2025 was $13.6 million, or an adjusted loss of $0.61 per diluted share, compared to an adjusted net loss of $3.8 million, or an adjusted loss of $0.29 per diluted share in the prior year[6] - Net loss for the 39-week period ended November 1, 2025, was $35,708 thousand, compared to a net loss of $31,014 thousand for the same period in 2024, representing an increase of 15%[14] - Adjusted EBITDA for the 39-week period ended November 1, 2025, was $(32,135) thousand, worsening from $(14,250) thousand in the same period of 2024[19] - The net loss for the 13-week period ended November 1, 2025, was $3,705,000, a decrease of 51.7% compared to $7,680,000 in the same period of 2024[20] - The adjusted net loss for the 39-week period ended November 1, 2025, was $42,724,000, compared to $26,159,000 in the prior year, reflecting a 63.5% increase[20] - The diluted loss per share for the 39-week period ended November 1, 2025, was $1.60, compared to $2.38 in the same period of 2024, indicating a 32.8% improvement[20] Expenses and Liabilities - Operating expenses decreased to $23.1 million, or 22.3% of net sales, compared to $34.5 million, or 30.2% of net sales in the prior year, attributed to reduced marketing spend and lower self-insured employee benefits costs[6] - Total liabilities rose to $273,270 thousand in November 2025 from $261,205 thousand in November 2024, an increase of 5%[13] - Total current liabilities decreased to $113,645 thousand in November 2025 from $152,672 thousand in November 2024, a decline of 26%[13] - Operating lease liabilities decreased to $77,589 thousand in November 2025 from $95,085 thousand in November 2024, a reduction of 18%[13] - Stock-based compensation expense for the 39-week period ended November 1, 2025, was $323,000, a decrease of 60.1% from $809,000 in the same period of 2024[20] Inventory and Assets - As of November 1, 2025, inventory was $88.9 million, down from $111.2 million as of November 2, 2024[6] - Total current assets decreased to $105,827 thousand in November 2025 from $124,469 thousand in November 2024, a decline of 15%[13] - Cash and cash equivalents increased to $6,457 thousand at the end of the period from $3,820 thousand at the beginning, marking a net increase of 69%[14] Mergers and Strategic Initiatives - The pending merger with Bed Bath & Beyond is expected to create a powerful omnichannel platform and unlock operational and financial synergies[2] - The company closed three Kirkland's Home stores and converted three stores to Bed Bath & Beyond Home stores, ending the quarter with 303 Kirkland's Home stores and 3 Bed Bath & Beyond Home stores[6] Debt and Financing - As of December 15, 2025, the company had $20.7 million of outstanding debt and $5.8 million in outstanding letters of credit under its revolving credit facility[6] - The company anticipates that availability under its revolving credit facility will increase as eligible inventory levels rise in the second and third fiscal quarters[6] - Borrowings on revolving line of credit significantly increased to $220,533 thousand in the 39-week period ended November 1, 2025, compared to $40,100 thousand in the same period of 2024[14] Gains and Other Income - The company reported a gain of $10,000 thousand from the sale of internally developed intangible assets during the 39-week period ended November 1, 2025[14] - The company recognized a gain of $10,000,000 from the sale of internally developed intangible assets during the 13-week period ended November 1, 2025[20] Other Expenses - The company incurred tornado-related expenses of $1,974,000 during the 39-week period ended November 1, 2025, due to damage at its distribution center[21] - The loss on extinguishment of debt for the 13-week period ended November 1, 2025, included a $2.6 million prepayment penalty[21]
Duluth (DLTH) - 2026 Q3 - Quarterly Results
2025-12-16 13:00
Financial Performance - Net loss reduced to $10.1 million compared to a net loss of $28.2 million in the prior year Third Quarter[6] - Adjusted EBITDA increased by $5.5 million from the prior year to -$0.7 million[6] - Net sales decreased by $12.2 million, or 9.6%, to $114.9 million compared to $127.1 million in the prior year[8] - Direct-to-consumer net sales decreased by 15.5% to $67.4 million due to lower traffic[8] - Gross profit for the nine months ended November 2, 2025, was $187.220 million, down from $202.031 million in the same period of 2024, reflecting a decrease of 7.3%[30] - The company reported a net loss of $10.101 million for the three months ended November 2, 2025, compared to a net loss of $28.231 million for the same period in 2024[30] - Adjusted EBITDA for the nine months ended November 2, 2025, was $7.468 million, compared to $6.084 million for the same period in 2024, showing an increase of 22.8%[34] Sales and Revenue Guidance - Affirming the higher end of fiscal 2025 Adjusted EBITDA guidance range of $23 million to $25 million[13] - Updating net sales guidance to a range of $555 million to $565 million[13] Expenses and Costs - Selling, general and administrative expenses decreased by $11.6 million, or 14.1%, to $70.7 million[10] - Gross margin increased to 53.8% of net sales, up from 52.3% in the prior year, despite a $3.0 million tariff impact[9] - The company incurred interest expense of $4.181 million for the nine months ended November 2, 2025, compared to $3.232 million for the same period in 2024, reflecting an increase of 29.3%[30] Assets and Liabilities - Total current assets increased to $228.746 million as of November 2, 2025, from $191.631 million as of February 2, 2025, representing a growth of 19.4%[27] - Total liabilities rose to $310.322 million as of November 2, 2025, compared to $272.763 million as of February 2, 2025, indicating an increase of 13.8%[27] Cash Flow and Liquidity - Cash and cash equivalents of $8.2 million with net liquidity of $88.6 million[11] - Cash and cash equivalents at the end of the period were $8.172 million, a decrease from $9.335 million at the end of the previous period[32] - The company experienced a net cash used in operating activities of $31.115 million for the nine months ended November 2, 2025, compared to $58.125 million for the same period in 2024[32] Inventory - Inventory down $39.2 million or 17.0% compared to last year[6] Shareholder Information - The weighted average shares of common stock outstanding increased to 34.517 million for the three months ended November 2, 2025, from 33.448 million for the same period in 2024[30]