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Financial Data and Key Metrics Changes - For Q2 2025, the company reported revenue of $228.1 million, a decrease of 8.2% compared to Q2 2024 [8][16] - Adjusted EBITDA for the quarter was $49 million, down 24% year-over-year, resulting in an adjusted EBITDA margin of 21.5%, a decrease of approximately 450 basis points from the prior year [20] - Adjusted net income was $28.2 million, a decrease of 21.9% from the previous year, with adjusted EPS at $0.20 [21] Business Line Data and Key Metrics Changes - The Self Storage segment saw a revenue decline of 14.8%, primarily due to decreased new construction activity [8][16] - The R3 sales channel experienced a 14% decrease, attributed to declines in big box retail conversion and expansion activity [16] - The International segment's revenue increased to $28.4 million, up 58% year-over-year, driven by higher volumes as demand normalizes post-recession [17][18] - The Commercial and Other segment increased by 6.7%, with organic growth of 1.7%, supported by the TMC acquisition and recovery in demand for rolling steel doors and carports [19] Market Data and Key Metrics Changes - The North American self-storage business faced softness, but this was partially offset by recovery in international markets [9] - The company noted that over 60% of self-storage facilities in the U.S. are over 20 years old, indicating potential for capital allocation towards existing properties [14] Company Strategy and Development Direction - The company continues to focus on digital innovation, brand expansion, and structural manufacturing to drive long-term growth [11] - The leadership team is being strengthened, with new appointments aimed at enhancing strategic execution [11] - The company is confident in the long-term fundamentals of the self-storage industry, driven by recurring life events [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to weather macroeconomic challenges and highlighted the stability of the backlog and pipeline [7][14] - The company reaffirmed its 2025 guidance for revenue between $860 million and $890 million and adjusted EBITDA between $175 million and $195 million [22][23] - Management noted that while new construction remains soft, the commercial sales channel and international sales are expected to recover [23] Other Important Information - The company repurchased 1.2 million shares for $10.1 million during the quarter, with an additional $75 million share repurchase authorization approved by the Board [13][22] - The estimated potential expense impact related to tariffs for 2025 is expected to be in the low single-digit millions, with ongoing annual impacts projected to be between $6 million and $8 million [12][13] Q&A Session Summary Question: Insights on self-storage mix and R3 performance - Management noted that customers are currently favoring new construction projects over R3 conversions, despite a growing backlog for R3 [26][27] Question: Expectations for Q3 performance - Management indicated that Q3 could be slightly above Q2 based on visibility into new construction projects, but remains cautious due to market uncertainties [28][29] Question: Drivers of commercial revenue rebound - The rebound in commercial revenue is attributed to product diversification, architectural specification efforts, and the performance of the TMC acquisition [34][35] Question: Progress with Nokia adoption - Management highlighted ongoing interest from larger institutional customers in the Nokia ION product, which offers cost-saving benefits [36] Question: Pricing and margin expectations for the second half - Management expects pricing to improve in the second half, contributing to better margins as steel costs decrease and cost-saving measures take effect [40][43] Question: Replacement and renovation activity in R3 - The increase in replacement and renovation activity is driven by both new business wins and customers needing to reinvest in their assets [47][48] Question: Backlog and pipeline stability - Management confirmed that the backlog and pipeline remain stable, with share gains and an increasing R3 pipeline contributing to this stability [54][55]

Group 1 - Aecom Technology (ACM) is currently performing better than the average Construction sector, with a year-to-date return of approximately 2.8% compared to the sector's average return of -4.4% [4] - The Zacks Rank for Aecom Technology is 2 (Buy), indicating a positive earnings outlook, with the consensus estimate for full-year earnings having increased by 1% over the past quarter [3] - Aecom Technology is part of the Engineering - R and D Services industry, which has an average year-to-date loss of 1.2%, further highlighting ACM's relative performance [6] Group 2 - Janus International Group, Inc. (JBI) has also outperformed the Construction sector with a year-to-date return of 11.2% [4] - The consensus EPS estimate for Janus International Group has increased by 150% over the past three months, and it also holds a Zacks Rank of 2 (Buy) [5] - Janus International Group belongs to the Building Products - Miscellaneous industry, which has experienced a year-to-date decline of 10.9% [7]

Company Performance - Great Lakes Dredge & Dock (GLDD) has returned 1.2% year-to-date, outperforming the average loss of 1.4% in the Construction sector [4] - The Zacks Consensus Estimate for GLDD's full-year earnings has increased by 5.1% over the past quarter, indicating improving analyst sentiment [4] - GLDD currently holds a Zacks Rank of 1 (Strong Buy), suggesting strong potential for future performance [3] Industry Comparison - GLDD is part of the Building Products - Heavy Construction industry, which ranks 1 in the Zacks Industry Rank, with an average gain of 1.3% year-to-date [6] - In contrast, Janus International Group, Inc. (JBI), another outperforming stock in the Construction sector, has returned 15.7% year-to-date and has a Zacks Rank of 2 (Buy) [5] - The Building Products - Miscellaneous industry, where JBI belongs, is ranked 94 and has seen a decline of 5.9% since the beginning of the year [7]

Core Viewpoint - Latham Group reported a quarterly loss of $0.03 per share, outperforming the Zacks Consensus Estimate of a loss of $0.05, and showing improvement from a loss of $0.07 per share a year ago, indicating a 40% earnings surprise [1] Financial Performance - The company posted revenues of $111.42 million for the quarter ended March 2025, slightly missing the Zacks Consensus Estimate by 0.52%, but showing an increase from $110.63 million in the same quarter last year [2] - Over the last four quarters, Latham Group has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Latham Group shares have declined approximately 12.8% since the beginning of the year, compared to a decline of 3.9% for the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $0.13 on revenues of $171 million, and for the current fiscal year, it is $0.12 on revenues of $536 million [7] Industry Outlook - The Building Products - Miscellaneous industry, to which Latham Group belongs, is currently ranked in the bottom 36% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Latham Group's stock performance [5]

Core Insights - Oldcastle APG, a subsidiary of CRH plc, has acquired the bagged and bulk mulch and soil assets of H&H General Excavating, enhancing its Lawn & Garden division and reinforcing its leadership in outdoor living solutions [1][2][4]. Market Expansion - The acquisition of H&H's facilities in Pennsylvania allows Oldcastle APG to broaden its product range and improve service capabilities in the Northeast, ensuring better customer access to high-quality mulch and soil products [2][4]. - This strategic move aligns with the company's mission to help customers "Live Well Outside" and supports its strategy of building a comprehensive portfolio of outdoor solutions [2][4]. Company Strategy - CRH focuses on expanding its geographical footprint and product portfolio through strategic acquisitions, which include various fields such as outdoor living solutions and infrastructure [5]. - In 2024, CRH completed 40 acquisitions worth $5 billion, a significant increase from $0.7 billion in 2023, indicating a robust growth strategy [6]. Financial Performance - CRH reported fourth-quarter 2024 revenues of $8.9 billion, which fell short of the consensus estimate of $9.3 billion, raising investor concerns about financial performance [8]. - Despite a 2.2% year-to-date increase in share price, CRH's stock has seen a decline of 7.7% in March 2025 due to various factors, including the disappointing revenue report [8]. Market Presence - On March 24, 2025, CRH was removed from the FTSE All-World Index, reflecting significant adjustments in its market presence amid adverse economic developments affecting European stocks [9].