Build-A-Bear Workshop (BBW) Q1 2026 Earnings Call May 29, 2025 09:00 AM ET Company Participants Gary Schnierow - Vice President of Investor Relations & Corporate FinanceSharon Price John - President & CEOJ. Christopher Hurt - Chief Operations & Experience OfficerVoin Todorovic - CFOKeegan Cox - Research Associate Conference Call Participants Eric Beder - CEO & Senior Research AnalystGreg Gibas - Vice President & Senior Research AnalystSteve Silver - Senior Equity Research Analyst Operator Greetings, and wel ...

Build-A-Bear Workshop (BBW) Q1 2026 Earnings Call May 29, 2025 09:00 AM ET Speaker0 Greetings, and welcome to the Build A Bear Workshop First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Gary Chinaro, Investor Relations. Thank you, sir. You may begin. Speaker1 Thank you. Good ...

Financial Data and Key Metrics Changes - The company reported net sales of $400.4 million for the fourth fiscal quarter, representing a decline of 11.7% compared to the prior year [4][14] - Adjusted EBITDA for the quarter was $47.1 million, or 11.8% of net sales, down from 12.1% in the same period last year [8][16] - Adjusted net income was $24 million, or $1.61 per diluted share, compared to $28.2 million, or $1.78 per diluted share last year [16] - The gross profit margin decreased by 160 basis points to 17% of net sales from 18.6% in the prior year [15] - For the full fiscal year, net sales were $1.7 billion, a decrease of 7.5% year-over-year [18] Business Line Data and Key Metrics Changes - Remodel net sales, which include home centers and independent dealers, decreased by 10.4% in the fourth quarter [14] - New construction net sales decreased by 13.4% for the quarter compared to last year [14] - The home center business saw a low single-digit negative comp, while the pro business reported a positive comp for the quarter [5][6] Market Data and Key Metrics Changes - Existing home sales fell by 0.5% month-over-month to a seasonally adjusted rate of 4 million in April 2025, with a year-over-year decline of 2% [4] - The NAHB housing market index fell to 34 in May, marking the lowest level since November 2023 [7] - Single-family housing starts experienced negative comps from January to April [7] Company Strategy and Development Direction - The company focuses on three main strategic pillars: growth, digital transformation, and platform design [10] - Key accomplishments include product innovation, capacity investments, and channel expansion, with over 30% of made-to-order sales coming from products launched in the last three years [10][11] - The company is enhancing its manufacturing capabilities and transitioning independent distributor customers to a new brand [11][12] Management's Comments on Operating Environment and Future Outlook - The management expects demand trends to remain challenging, with net sales for fiscal year 2026 projected to range from low single-digit declines to low single-digit increases [9][20] - The outlook is influenced by macroeconomic factors, including interest rates, tariff changes, and consumer behavior [20] - Management believes that a decline in mortgage rates and increased consumer confidence could positively impact the housing market [9] Other Important Information - The company repurchased 1.17 million shares during fiscal year 2025, representing about 7.5% of outstanding shares [19] - Free cash flow totaled $65.7 million for the current fiscal year, down from $138.5 million in the prior year [18] - The company has a net leverage ratio of 1.56 times adjusted EBITDA at the end of the fourth quarter [19] Q&A Session Summary Question: Impact of tariffs on full year guidance - Management indicated that the outlook was significantly influenced by tariffs, estimating a cost impact of approximately $20 million [26][27] Question: Gross margin improvement - The improvement in gross margins was attributed to operational adjustments made in response to previous demand softness [28][30] Question: Revenue guidance assumptions - The revenue guidance assumes a recovery in both remodel and new construction markets in the second half of fiscal year 2026 [35][36] Question: Cost side considerations - Management acknowledged potential commodity inflation and labor costs as factors to consider for the full year guidance [43] Question: Savings from facility closure - The closure of a components facility is expected to yield annual savings of $5 million to $6 million [45] Question: Automation investments progress - Management described the company as being in the early stages of its automation investment journey, with significant spending planned for fiscal year 2026 [53][54]

Core Insights - Fluent, Inc. has announced the formation of its inaugural Board of Advisors to enhance its commerce media solutions and drive growth and innovation [1][10] - The Board will collaborate with Fluent's executive team to inform strategic decisions, improve brand partnerships, and identify new revenue opportunities in the commerce media sector [2][10] Board Composition - The Board of Advisors includes industry veterans with extensive experience in scaling businesses and digital transformation [3] - Notable members include: - Drew Cashmore, former architect of Walmart Connect, who scaled the business beyond $2 billion [4] - Charlie Cole, a two-time turnaround CEO with expertise in digital transformation and ecommerce [5] - Shawna Hausman, who led a 300% increase in revenue at FSA Store, contributing to its acquisition [6] - Jennifer Olsen, who increased market cap by 40% at Caleres and achieved a 100% revenue increase at UNTUCKit [7] - Brian Wong, a founding partner at Ascii Ventures and co-founder of Kiip, known for his innovative marketing strategies [9] Strategic Goals - The formation of the Board is part of Fluent's strategy to leverage industry expertise for market expansion and innovation in commerce media solutions [10] - Fluent has reported triple-digit year-over-year revenue growth in its unaudited Q4 results, indicating strong momentum in the commerce media space [10][12]

KeyBanc Industrials & Basic Materials Conference Boston, MA May 29, 2025 1 Today's Speakers Aaron Schapper President and Chief Executive Officer Dan Hoehn Vice President and Corporate Controller, Interim Chief Financial Officer Meghan Beringer Sr. Director, Investor Relations 2 Safe Harbor Statement & Non-GAAP Measures Statements in this presentation contain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including i ...

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $1.67 billion, representing a 6% reported growth and a 5.3% core growth compared to Q2 2024 [9][27] - Operating margin was 25.1%, absorbing some incremental tariff costs, and EPS was $1.31, growing 7% year over year [9][33] - Gross margin was 54.1%, down from the previous year due to tariffs, currency, and product mix [31] Business Line Data and Key Metrics Changes - The Agilent CrossLab Group reported revenue of $713 million, growing 9%, driven by double-digit growth in consumables and automation [28] - Life Sciences and Diagnostics Market Group revenue was $654 million, growing 3%, with high single-digit growth in pathology and NASD [29] - Applied Markets Group revenue was flat at $300 million, with growth in spectroscopy offset by declines in gas chromatography [29] Market Data and Key Metrics Changes - All regions experienced growth, with China leading at 10%, while the Americas grew low single digits and EMEA grew mid single digits [12] - India delivered high teens growth, prompting the opening of a new solution center [13] - PFAS testing grew over 70% year over year globally, with Europe and China more than doubling their business [15][16] Company Strategy and Development Direction - The company is executing its three-year Ignite transformation strategy, focusing on operational efficiency and tariff mitigation [11][20] - Agilent acquired BioVectra for approximately $1 billion to expand its CDMO capabilities [20] - The company is committed to innovation, launching new products in cell analysis and chromatography [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth prospects despite macroeconomic uncertainties, maintaining a core growth rate of 2.5% to 3.5% for the year [26][37] - The company is proactively managing tariff exposure and expects to fully mitigate costs by fiscal 2026 [25][39] - Management highlighted the importance of strategic pricing initiatives to maintain competitiveness [21][84] Other Important Information - Digital orders grew by 12% year over year, reaching $295 million [18] - The company is tracking over 350 regulations globally related to PFAS testing, anticipating significant market growth [16][22] - The board welcomed new members with extensive experience in the pharmaceutical and healthcare sectors [42] Q&A Session Summary Question: Order trends in the quarter - Management noted that orders grew low single digits in Q2, with a book-to-bill ratio greater than one, indicating stable business across regions [49][50] Question: Performance of NASD and BioVectra - Management expressed optimism about the CDMO business, with expectations for double-digit growth in the second half of the year [55] Question: Impact of tariffs on consumables - The $15 million of consumables pulled forward was due to customer anticipation of tariffs, with no overall revenue impact expected [63][64] Question: Differences in ordering patterns in pharma - The majority of business is in QAQC and development, with small molecule growth of 10% in the quarter [71] Question: PFAS regulation impacts - PFAS testing grew 75% year over year, with expectations for continued strong results despite regulatory uncertainties [73][75] Question: Reshoring and capacity build-outs - Discussions with pharma customers are early, with expectations for potential tailwinds in the next few years [82] Question: Pricing strategies - The company is on track for approximately 100 basis points of price realization for the year, aided by tariff mitigation activities [86][88]

Sonos (SONO) Conference Call Summary - May 28, 2025 Company Overview - **Company**: Sonos (SONO) - **Industry**: Consumer Electronics / Audio Products Key Points and Arguments Recovery and Performance Metrics - Sonos is recovering from previous app issues, with core metrics around reliability and performance now exceeding those of the predecessor app version [5][6] - Focus on improving the core experience, which is essential for customer retention and repurchases [6][7] - A recent promotion to existing customers yielded a better take rate than a similar promotion conducted a year prior to the app launch, indicating positive recovery trends [10][11] Financial Guidance and Market Position - The company anticipates a choppy year-over-year comparison due to the launch of new products last year, but expects growth in Q4 [12][13] - Sonos is restructuring to be more scalable and efficient, reducing headcount while reorganizing teams to streamline operations [14][15] Tariff Mitigation Strategies - Sonos has shifted production away from China, primarily to Vietnam and Malaysia, to mitigate tariff impacts [16][17] - The company is adopting a flexible pricing strategy to manage tariff costs while maximizing gross profit dollars rather than focusing solely on gross margin percentages [19][40] Leadership Transition - An active CEO search is underway, with the interim CEO, Tom, effectively managing the transformation and recovery efforts [22][23] - The search process is expected to take about six months, with five months already completed [24] Product Innovation and Market Competition - Sonos aims to maintain a steady cadence of product launches, focusing on core experience improvements while exploring new innovations [27][30] - The company ranks fourth in patent power, indicating a strong foundation for future innovations [30] - Sonos acknowledges competition from emerging brands and is focused on articulating its unique value propositions to customers [33][35] Cash Management and Shareholder Returns - Sonos has paused stock buybacks to preserve cash for operational flexibility amid tariff uncertainties, but plans to resume buybacks once conditions stabilize [36][37] Geographic Expansion - The company is actively pursuing geographic expansion, particularly in APAC markets, which are showing double-digit growth potential [38][39] - This expansion strategy aims to diversify revenue sources and tap into high-income customer segments in regions like the Middle East [39] Additional Important Insights - Sonos is committed to a disciplined approach in R&D investments, ensuring alignment with revenue projections to avoid overextending resources [31][32] - The company is leveraging its existing product lines to capture demand in new markets without necessarily launching new products [39][41]

Core Insights - GameStop Corp. (GME) is transitioning from a traditional retail model to a digital-centric approach, with a market capitalization of approximately $15.66 billion, driven by speculative interest and transformation efforts [1][4] - Boyd Gaming Corporation (BYD) operates in the casino and hospitality sector with a market cap of around $6.13 billion, reflecting steady growth as travel and leisure trends rebound [2][3] GameStop (GME) Analysis - GameStop has a loyal retail investor base and is seeing increased interest from institutional investors, which may stabilize its stock price and attract long-term capital [4] - The company is diversifying into higher-margin categories like collectibles and enhancing its digital capabilities, focusing on e-commerce and user experience [5][6] - GameStop is restructuring internationally, exiting lower-performing markets to concentrate on core operations [7] - Traditional revenue streams are under pressure, with declines in hardware and software sales due to shifting consumer preferences towards digital downloads and subscription models [8] - The Zacks Consensus Estimate for GME's fiscal 2025 sales suggests an 11.1% year-over-year decline, while EPS is expected to grow by 42.4% [13] Boyd Gaming (BYD) Analysis - Boyd's strategy emphasizes operational efficiency, margin expansion, and digital transformation, with strong adjusted EBITDA margins across its portfolio [9] - The company has entered the online gaming market through a partnership with FanDuel, enhancing its presence in sports betting and iGaming [10] - Boyd is executing long-term development projects, including significant investments in property enhancements and new resorts, while maintaining capital discipline [11] - The Zacks Consensus Estimate for BYD's fiscal 2025 sales indicates a 0.6% year-over-year increase, but EPS is expected to decline by 2.4% [14] Stock Performance Comparison - Over the past six months, GME shares have surged by 20.5%, while BYD has seen a modest gain of 2% [15][16] - GameStop trades at a forward P/E ratio of 74.49, significantly above the industry average of 31.17, indicating higher growth expectations and investor risk [17] - Boyd trades at a lower P/E ratio of 11.56, appealing to value-oriented investors [17] Investment Outlook - GameStop is positioned as a compelling investment for growth-oriented investors due to its digital transformation and rising institutional interest [19] - Boyd offers a conservative investment trajectory with strong fundamentals, making it attractive for income-focused or risk-averse investors [20]

Deutsche Bank (DB) has embarked on a digital transformation drive, focusing on cloud migration, artificial intelligence (AI), and automation to enhance operational efficiency and client services.In sync with this, this week, DB has collaborated with International Business Machines (IBM) and finaXai, a Singapore-based AI company.DB's Partnership With IBMDB announced that it reinforced its strategic partnership with IBM through a new license agreement, providing the former with greater access to International ...

Group 1: Joint Venture and Operations - BlackRock Inc. and Jio Financial have received approval from the Securities and Exchange Board of India to start their mutual fund operations through the joint venture named Jio BlackRock Asset Management [1] - The joint venture plans to launch a variety of investment products with a "digital first" approach targeting both retail and institutional investors [1][2] - The initial investment for the joint venture is set at $150 million from each partner, aiming to democratize access to investment solutions in India [4] Group 2: Strategic Rationale and Market Opportunity - This initiative aligns with BlackRock's growth strategy to enhance its market share in both domestic and global markets, capitalizing on India's rising affluence and digital transformation [5] - The joint venture aims to reshape the investment landscape in India by providing affordable, tech-enabled options for millions of investors [4][5] Group 3: Historical Context and Future Plans - BlackRock and Jio Financial formed the joint venture in July 2023, combining BlackRock's investment expertise with Jio's local market knowledge [3] - In April 2024, both entities expanded their collaboration to establish a wealth management and broking business in India, targeting the growing retail investor base [4]