Core Points - Lennox's board of directors approved a 13% increase in the quarterly dividend from $1.15 to $1.30 per share, payable on July 15, 2025, to stockholders of record as of June 30, 2025 [1] - The board also approved a $1 billion increase to its existing stock repurchase authorization, in addition to approximately $290 million remaining under prior authorizations as of May 12, 2025 [2] - The CFO of Lennox stated that the increase in dividend and share repurchase authorization reflects confidence in the company's performance and ability to generate strong cash flow, while maintaining a disciplined leverage profile and flexibility for strategic M&A opportunities [3] Company Overview - Lennox is a leader in energy-efficient climate-control solutions, focusing on sustainability and creating comfortable environments for residential and commercial customers while reducing their carbon footprint [4]

Group 1 - Lamar Advertising Company declared a quarterly cash dividend of $1.55 per share, payable on June 30, 2025, to stockholders of record on June 16, 2025, with expected total distributions of at least $6.20 per common share in 2025 [1][2] - The company completed $150 million in stock repurchases under its existing program and has increased the stock repurchase program by an additional $150 million, bringing the total available for repurchase to $250 million [2] Group 2 - Lamar Advertising Company, founded in 1902, is one of the largest outdoor advertising companies in North America, operating over 363,000 displays across the United States and Canada [4] - The company offers a variety of advertising formats, including billboards, interstate logos, transit, and airport advertising, and has the largest network of digital billboards in the U.S. with approximately 5,100 displays [4]

Financial Data and Key Metrics Changes - New contracts decreased by 10% compared to last year, with a sequential decline of 20% in January, 10% in February, and 2% in March [12] - Revenues decreased by 7% to $976 million, while pre-tax income decreased by 19% to $146 million, resulting in a pre-tax income margin of 15% [8][16] - Gross margins were reported at 25.9%, down 120 basis points year-over-year but up 130 basis points from the previous quarter [14] - Earnings per diluted share decreased to $3.98 from $4.78 last year [16] Business Line Data and Key Metrics Changes - The mortgage and title operations achieved pre-tax income of $16.1 million, an increase of 31% from the previous year, with revenue rising 17% to a record $31.5 million [17] - 54% of buyers utilized rate buy downs, up from just under 50% in the previous quarter [8] - Average loan amounts increased to $406,000, while loans originated decreased by 2% to $15.3 million [18] Market Data and Key Metrics Changes - New contracts in the Northern Region decreased by 8%, while the Southern Region saw an 11% decrease [9] - Deliveries in the Southern Region decreased by 13%, while Northern Region deliveries decreased by 2% [9] - The company ended the quarter with 226 communities, an increase from 219 a year ago, and plans to grow community count by an average of 5% in 2025 [12][10] Company Strategy and Development Direction - The company plans to continue offering rate buy down incentives to stimulate demand, despite expected pressure on gross margins throughout the year [11] - The management remains optimistic about long-term growth in the homebuilding industry due to an undersupply of homes and increasing household formations [11] - The company is focused on maintaining a strong balance sheet, with zero borrowings under its credit facility and a debt to capital ratio of 19% [10] Management's Comments on Operating Environment and Future Outlook - The management noted that the spring selling season has been "just okay," with a grading of B- to C+ due to ongoing economic uncertainties [5] - Despite challenges, the company believes it is well-positioned for a solid year in 2025, with expectations of continued demand in its markets [11] - The management highlighted the importance of mortgage rate buy downs as an effective tool to drive traffic and sales in the current environment [53] Other Important Information - The company has a strong land position, owning approximately 25,000 lots and controlling an additional 26,000 lots via option contracts, equating to about a five-year supply [10] - The company repurchased $50 million of its stock during the quarter, with $200 million remaining under its current Board authorization [21] Q&A Session Summary Question: Insights on buyer demand shifts geographically and by price point - Management noted no significant changes in demand by price point, with 54% of sales from the Smart Series product line catering to first-time buyers [25] - Geographically, Tampa struggled more than other Florida markets but has shown signs of recovery recently, while markets like Indianapolis and Chicago performed strongly [28][29] Question: Spec strategy and margin differentials - The company has increased its spec sales to 50-65% of total sales, with spec margins generally lower by 150 to 200 basis points compared to built-to-order homes [36][37] Question: Order pace and units under construction - Management is cautious about increasing units under construction, balancing good margins with market pace [49] Question: Impact of lot cost inflation and supply chain - Currently, there has been no significant impact from lot cost inflation or tariffs, with costs remaining stable or slightly lower [65][66] Question: Stock repurchase strategy - The company maintains a consistent repurchase strategy and is open to adjusting the pace based on market conditions [76][78] Question: Gross margin backlog and pricing power - The gross margin backlog is expected to remain flat, with limited pricing power observed in less than 10% of communities [84][100]

PVH Corporation (PVH) reported better-than-expected results in the fourth quarter of fiscal 2024, wherein both earnings and revenues topped the Zacks Consensus Estimate. However, the bottom and top lines fell year over year. Results were hurt by a tough macro backdrop. PVH reported adjusted earnings of $3.27 per share, down 12.1% from the year-ago quarter's $3.72. The bottom line beat the Zacks Consensus Estimate of earnings of $3.19 per share and the company's guidance of $3.05-$3.20. The figure included t ...