Financial Data and Key Metrics Changes - Net earnings for the fourth quarter rose to $14.6 million, or $0.74 per diluted share, compared to $4.7 million, or $0.24 per diluted share during the same period last year [4] - Quarterly shipments increased by 9.8% year-over-year, driven by contributions from recent acquisitions and stronger demand across non-residential construction markets [4] - Average selling prices for the quarter rose by 20.3% year-over-year and 4.7% sequentially from Q3 [5] - Gross profit for the quarter rose to $28.6 million, with gross margin improving by 700 basis points to 16.1% [6] - SG&A expense for the quarter increased to $9.7 million, or 5.5% of net sales, compared to $7.5 million, or 5.6% of net sales in the prior year period [8] Business Line Data and Key Metrics Changes - The ongoing recovery in markets is real, but residential construction continues to be a headwind for volumes, with activity levels remaining subdued [4][5] - The company experienced a decline in shipments of 5.8% from the third quarter, attributed to supply constraints for steel wire rod [4] Market Data and Key Metrics Changes - The U.S. steel wire rod markets have remained tight through much of 2025, with increased tariffs adding upward pressure on raw material costs [5] - The architectural billing index rose slightly to 47.2 in August, but remained below the 50 threshold signaling growth [13] - The Dodge Amendment Index showed continued strength, rising 3.4% in September and up 33% year-to-date, driven by strong commercial construction planning activity [13] Company Strategy and Development Direction - The company plans to invest approximately $20 million in capital expenditures during fiscal 2026 to broaden product offerings and enhance information systems [23] - The capital deployment strategy focuses on reinvesting in the business, maintaining financial strength, and returning capital to shareholders [12] Management's Comments on Operating Environment and Future Outlook - Management sees no evidence of a broad-based slowdown in markets, although housing continues to lag significantly [2] - The company remains cautious about macroeconomic uncertainty but is confident in its ability to manage near-term challenges and build long-term value for shareholders [15] - The demand recovery is real, with confidence levels among customers remaining positive [17] Other Important Information - The company returned $24 million to shareholders through dividends and share repurchases in fiscal 2025 [12] - The effective tax rate for the fourth quarter was 24.4%, up from 23% in the same period last year [8] Q&A Session Summary Question: Demand and Data Center Construction - The company confirmed that data center construction continues to fill gaps in other markets, with activity expected to continue [28][29] Question: Raw Material Supply - Management indicated that the current supply of raw materials is adequate, with no disappointment in inventory levels [30][31] Question: Engineered Wire Products Contribution - The financial performance of the Upper Sandusky facility has been solid, with the expected benefits from the Engineered Wire Products acquisition being realized [32] Question: Residential Construction Impact - Residential construction comprises about 15% of revenues, with demand remaining weak, but inventory issues may resolve by the end of the year [34][41] Question: Inventory Carry Strategy - The company expects inventory levels to remain elevated due to current supply issues, which may increase margin variability [42][43] Question: Production Issues and Shipment Decline - The shipment decline was primarily due to production supply issues early in the quarter, which have since been resolved [46][48] Question: Geographic Demand Trends - There are no significant geographic trends; demand remains steady across the country [53] Question: Water Infrastructure Initiatives - Additional funding for water infrastructure projects is seen as positive, with potential benefits from initiatives like Prop 4 in Texas [55][56]

Financial Data and Key Metrics Changes - Net earnings for the fourth quarter rose to $14.6 million, or $0.74 per diluted share, compared to $4.7 million, or $0.24 per diluted share during the same period last year [4] - Quarterly shipments increased by 9.8% year over year, driven by contributions from recent acquisitions and stronger demand across non-residential construction markets [4] - Average selling prices for the quarter rose by 20.3% year over year and 4.7% sequentially from Q3, reflecting continued pricing momentum [5] - Gross profit for the quarter rose to $28.6 million, with gross margin improving by 700 basis points to 16.1% [6] - SG&A expense for the quarter increased to $9.7 million, or 5.5% of net sales, compared to $7.5 million, or 5.6% of net sales in the prior year period [8] Business Line Data and Key Metrics Changes - The ongoing recovery in markets is real, but residential construction continues to be a headwind for volumes, with activity levels remaining subdued [4][5] - The increase in average selling prices was largely due to tighter U.S. steel wire rod markets and the impact of Section 232 tariffs on raw material costs [5][6] Market Data and Key Metrics Changes - The architectural billing index rose slightly to 47.2 from 46.2, but remained below the 50 threshold signaling growth, indicating mixed demand conditions [13] - The Dodge Amendment Index showed continued strength, rising 3.4% in September and up 33% year to date, driven by strong commercial construction planning activity [13] Company Strategy and Development Direction - The company plans to invest approximately $20 million in capital expenditures during fiscal 2026 to broaden product offerings and enhance information systems [23] - The capital deployment strategy focuses on reinvesting in the business, maintaining financial strength, and returning capital to shareholders [12] Management's Comments on Operating Environment and Future Outlook - Management sees no evidence of a broad-based slowdown in markets, although housing continues to lag significantly [2][4] - The company remains cautious about macroeconomic uncertainties but is confident in its ability to manage near-term challenges and build long-term value for shareholders [15][24] Other Important Information - The company returned $24 million to shareholders through dividends and share repurchases in fiscal 2025, including a special cash dividend [12] - The effective tax rate for the fourth quarter was 24.4%, up from 23% in the same period last year, mainly due to changes in book tax differences [8] Q&A Session Summary Question: Demand and Data Center Construction - The company confirmed that data center construction continues to fill gaps in other markets, with activity expected to continue [28][29] Question: Raw Material Supply - Management indicated that the current supply of raw materials is adequate, with no significant issues expected moving forward [30][31] Question: Engineered Wire Products Contribution - The financial performance of the Upper Sandusky facility has been solid, and the integration of Engineered Wire Products is considered successful [32] Question: Residential Market Impact - Residential construction remains soft, comprising about 15% of revenues, with expectations for improvement only if inventory issues are resolved [33][41] Question: Inventory Carry Strategy - The company expects inventory levels to remain elevated due to ongoing supply issues, which may increase margin variability [42][43] Question: Geographic Demand Trends - There are no significant geographic trends; demand is steady across the country, with project-oriented business varying by location [53] Question: Infrastructure Initiatives - Additional funding for infrastructure projects, such as Texas's Prop 4, is seen as positive for the company, potentially translating into increased demand [55][58]

Financial Data and Key Metrics Changes - Net earnings for the fourth quarter rose to $14.6 million, or $0.74 per diluted share, compared to $4.7 million, or $0.24 per diluted share during the same period last year [4] - Quarterly shipments increased by 9.8% year over year, driven by contributions from recent acquisitions and stronger demand across non-residential construction markets [4] - Average selling prices for the quarter rose by 20.3% year over year and 4.7% sequentially from Q3 [5] - Gross profit for the quarter rose by $16.3 million year over year to $28.6 million, with gross margin improving by 700 basis points to 16.1% [6] - SG&A expense for the quarter increased to $9.7 million, or 5.5% of net sales, compared to $7.5 million, or 5.6% of net sales in the prior year period [7] - Cash flow from operations used $17 million in the quarter, compared to providing $16.2 million last year [9] Business Line Data and Key Metrics Changes - The ongoing recovery in markets is real, but residential construction continues to lag significantly [2][3] - Supply constraints for steel wire rod eased gradually during the quarter, allowing better alignment of production with customer demand [4] - The increase in inventories was driven by the timing of raw material purchases and an increase in the average carrying value of inventory [9][10] Market Data and Key Metrics Changes - The architectural billing index rose slightly to 47.2 from 46.2 in July, but remained below the 50 threshold signaling growth [13] - The Dodge Amendment Index showed continued strength, rising 3.4% in September and up 33% year to date, driven by strong commercial construction planning activity [13] - Total spending on a seasonally adjusted basis was down about 3% from last year, with non-residential construction holding steady [14] Company Strategy and Development Direction - The company plans to invest approximately $20 million in capital expenditures during fiscal 2026 to broaden product offerings and enhance information systems [23] - The capital deployment strategy focuses on reinvesting in the business, maintaining financial strength, and returning capital to shareholders [12] - The company remains cautious about macroeconomic uncertainty but is confident in its ability to manage near-term challenges and build long-term value [15] Management's Comments on Operating Environment and Future Outlook - Management sees no evidence of a broad-based slowdown in markets, although housing continues to lag significantly [2][3] - The company is monitoring leading measures of non-residential construction activity and expects demand recovery to continue [17] - Management remains cautious about the economic environment, particularly regarding the administration's trade policies and potential rate cuts from the Federal Reserve [12][13] Other Important Information - The company returned $24 million to shareholders through dividends and share repurchases in fiscal 2025 [12] - The effective tax rate for the fourth quarter was 24.4%, up from 23% in the same period last year [8] Q&A Session Summary Question: Demand and Construction Activity - The company confirmed that data center construction continues to fill gaps in other markets, with positive customer confidence [28][29] Question: Raw Material Supply - The current supply of raw materials is adequate, with imports made to address specific deficiencies [30][31] Question: Engineered Wire Products Acquisition - The financial performance of the Upper Sandusky facility has been solid, with attractive product mix and effective manufacturing [32] Question: Residential Market Impact - Residential construction comprises about 15% of revenues, and the company is not banking on a significant recovery in this sector for 2026 [33][42] Question: Inventory Strategy - The company expects inventories to remain elevated due to current supply issues, which may increase margin variability [43][44] Question: Geographic Demand Trends - There are no significant geographic trends; demand is steady across the country [53] Question: Infrastructure Initiatives - Additional funding for water infrastructure projects could benefit the company, particularly from the Infrastructure Investment and Jobs Act [55][58]

Core Insights - Whirlpool Corp. announced a $300 million investment in its Ohio laundry manufacturing facilities to enhance its American manufacturing footprint and increase production of next-generation washers and dryers [1][2] - The investment is expected to create between 400 and 600 jobs in Ohio and support approximately 5,000 additional jobs outside the company [2] - CEO Marc Bitzer emphasized the company's commitment to American manufacturing, stating that tariffs will help level the playing field and improve competitive positioning [3][4] Investment and Economic Impact - The $300 million investment is part of a broader strategy, following $6 billion already invested in U.S. capital expenditures, R&D, and new product development, contributing to a total of $23 billion spent on U.S. operations [9] - Nearly 80% of Whirlpool's products are manufactured domestically, significantly higher than the 25% average of competitors, with 96% of steel used sourced from domestic suppliers [6] - The company views the current tariff policies as a positive factor for future investments, making the economic case for such investments more attractive [7][9] Company Background - Founded over 110 years ago, Whirlpool maintains the largest U.S. manufacturing operations in the home appliance industry, employing 20,000 people in the U.S., including over 14,000 at its 10 manufacturing plants [11] - The investment aims to reinforce the company's commitment to the communities and enhance manufacturing capabilities, ensuring the production of world-class appliances in America [13]

It is the CNBC Invest in America Forum in Washington, D. C. happening right now.The events bringing together investors, policymakers and industry leaders for conversations about American industrial policy. And Treasury Secretary Scott Bessent is about to speak to our Sara Eisen. Here it comes right now.Let's listen in. >> So thank you, America first. America first.There we go. So the investment boom I mean, it feels like every day we either get an Oval Office announcement from a CEO, some of whom are here t ...

Investment Boom - The current investment boom in the U.S. is characterized by significant foreign direct investment, totaling approximately $1 trillion over the Biden administration, with $250 billion occurring last year [2][3] - The boom is attributed to pent-up demand and favorable policies introduced by the Trump administration, including trade tax and regulatory certainty [3][4] Government Shutdown Impact - The ongoing government shutdown is seen as a major obstacle to economic growth, with estimates suggesting it could be costing the economy up to $15 billion per day [12] - The shutdown is negatively affecting small business confidence, which had previously been strong [12] Political Dynamics - There is a call for moderate Democrats to collaborate with Republicans to reopen the government, which could enhance their political standing [7][9] - The current political climate is described as being influenced by radical elements within the Democratic Party, which may be hindering bipartisan cooperation [10][11]

Core Insights - The financial markets experienced significant volatility following former President Trump's announcement of a 100% tariff on Chinese imports, which led to a sharp decline in major indices and a loss of nearly $800 billion in market value [2][3] - Trump's subsequent reassurances on social media led to a rapid recovery in U.S. stock futures, highlighting the unpredictable nature of market reactions to political statements [5][10] Market Reaction - Following the tariff announcement, the S&P 500 fell by 2.7%, the Dow Jones dropped 878 points (1.9%), and the NASDAQ Composite decreased by 3.6%, marking Wall Street's worst day since April [3] - Asian markets also reacted negatively, with Hong Kong's Hang Seng index falling 2.3%, and the Shanghai Composite down nearly 1% [3] Commodity and Crypto Impact - Gold prices surged to $4,016.68, marking an increase of 1.02% as investors sought safe-haven assets amid trade tensions [4] - The cryptocurrency market faced a massive sell-off, with an estimated $18 billion to $19 billion wiped out in a single day, and Bitcoin dropping 8.4% to $104,782 [8] Analyst Perspectives - Analysts expressed concerns over the unpredictability of Trump's tariff policies, with some suggesting that the U.S. economy could suffer more than China from these measures [6][7] - Goldman Sachs indicated that the tariff standoff might transition into a prolonged pause rather than an escalation, reflecting a cautious outlook on the situation [6] Conclusion - The recent events illustrate the "Trump effect" on financial markets, characterized by rapid shifts in sentiment driven by social media announcements, creating a challenging environment for investors [10]

Canadian robotics startup Vention says it can help US factories grow efficiently. But Trump's tariff policy has thrown the industry into uncertainty. https://t.co/FQkEqNNjQa ...

Market Performance - Market indexes experienced gains, with the Dow up +68 points, S&P 500 gaining +17 points, and Nasdaq increasing +107 points, while the Russell 2000 rose +2 points [2] - The market was influenced by a government shutdown threat and OPEC+'s decision to raise oil production by 137K barrels per day, leading to a -3.8% drop in WTI prices and a -2.5% decline in Exxon Mobil and BP stocks [1] Housing Market - Pending Home Sales rose by +4.0% in August, surpassing expectations and reversing a previous downward trend, aided by slightly easing mortgage rates [3] - Newly-built homes also saw an increase, with homebuilder stocks like Lennar, Pulte Home, and KB Home rising more than +1% due to pent-up demand [4] Cannabis Industry - The Trump administration is considering reclassifying cannabis from Schedule I to Schedule III, which could have significant implications for the industry, resulting in a +60% increase in Tilray's stock price [5] Economic Data Expectations - Upcoming economic data includes Case-Shiller Home Prices, Chicago Business Barometer, and Consumer Confidence, with expectations for slight increases and a narrowing in Consumer Confidence to 95.8 [6] - The Job Openings and Labor Turnover Survey (JOLTS) is expected to show a decrease in job openings to 7.1 million, the lowest since September 2024 [7] Company Earnings - Nike is set to report fiscal Q1 earnings, with expectations of a -60% year-over-year earnings decline and -4.95% revenue drop, despite having outperformed earnings expectations for eight consecutive quarters [8][9]

Core Viewpoint - Ken Griffin, CEO of Citadel LLC, has publicly criticized President Trump's tariff policy, labeling it as "anti-American" and favoring "the big and the connected" [1][2]. Group 1: Criticism of Tariff Policy - Griffin expressed that the line of businesses seeking tariff exemptions is "nauseating," highlighting concerns over crony capitalism and fairness in economic policies [2]. - He warned that government intervention in selecting economic winners and losers ultimately leads to negative outcomes for all [3]. - Griffin cautioned companies against relying on favors from the current administration, suggesting that this could backfire with a change in leadership [3]. Group 2: Economic Impact of Tariffs - Senator Elizabeth Warren and economists have attributed rising goods prices in the U.S. to Trump's trade and tariff policies, with 72% of CPI components exceeding the Federal Reserve's inflation target [6]. - Despite the criticism, Trump's tariffs have generated nearly $350 billion in revenue, raising significant discussions about their impact on the U.S. economy and trade policy [6]. Group 3: Historical Context of Griffin's Criticism - This is not the first instance of Griffin criticizing Trump's economic policies; he has previously expressed concerns about Trump's influence on the Federal Reserve and the potential risks involved [4]. - Earlier in the year, Griffin also warned that the administration's tax cuts and focus on low-wage manufacturing could lead to stagflation [5].