Acushnet (GOLF) Q1 2025 Earnings Call May 07, 2025 08:30 AM ET Company Participants Sondra Lennon - VP - FP&A and IRDavid Maher - President & CEOSean Sullivan - Executive VP & CFOCarlos Gallagher - Senior Associate - Equity Research Conference Call Participants Megan Christine Alexander - AnalystJoseph Altobello - MD & Senior AnalystNone - AnalystNoah Zatzkin - Vice President & Equity Research Analyst Operator Good morning, all, and thank you for joining us for today's Acushnet Company First Quarter twenty ...

Financial Data and Key Metrics Changes - For Q3 2025, net sales were $76 million, a decrease of $8 million or 10% from the prior year, primarily due to lower unit sales volume, partially offset by a favorable mix [17] - Gross margin was 20.8%, down from 23.3% in the prior year, attributed to lower cost absorption from production decreases [18] - Adjusted net income for the quarter was $5 million or $0.30 per diluted share, compared to $8.5 million or $0.50 per diluted share in the prior year [18] - Adjusted EBITDA was $7.5 million, down from $11.7 million in the prior year, with an adjusted EBITDA margin of 9.9% compared to 13.9% [19] - The company ended the quarter with nearly $167 million in total liquidity, including $67 million in cash and short-term investments, and $100 million available under its revolving credit facility, with no debt [19] Business Line Data and Key Metrics Changes - In the MasterCraft segment, production of the premium X Star model ramped up, contributing positively to brand momentum and dealer support [14] - The pontoon segment, including Crest and Valise brands, faced challenges with dealer inventories, leading to a 40% year-over-year unit reduction [16] Market Data and Key Metrics Changes - Dealer inventories across brands decreased by 30% over the past year, and more than 45% compared to the pre-pandemic period in fiscal 2019 [10] - The company anticipates a modest impact from tariffs on fiscal 2025 costs, while closely monitoring broader demand implications [11] Company Strategy and Development Direction - The company is focused on disciplined cost, cash, and pipeline management, with a renewed emphasis on product development and prudent destocking [9] - Capital allocation priorities remain disciplined, with a solid balance sheet and a focus on share repurchase programs to return capital to shareholders [12] - The company is exploring growth opportunities within its distribution network, particularly in key markets like Dallas and Southern Utah [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged persistent macroeconomic headwinds and tariff uncertainty impacting the marine sector, leading to a revision of full-year guidance [10] - Despite challenges, management remains confident in achieving inventory reduction targets and maintaining dealer health [10] - The company is optimistic about retail momentum, particularly with premium buyers, and is preparing for the summer selling season [50] Other Important Information - Tim Oxley, the CFO, will retire in June, with Scott Kent set to succeed him [5][6] - The X Star model received the National Marine Manufacturers Association Innovation Award, highlighting the company's focus on quality and innovation [13] Q&A Session Summary Question: Can you quantify the tariff impacts and potential price increases for model year '26? - Management indicated that the impact of tariffs is evolving and has not yet determined specific pricing effects, but expects some inflationary impact [26] Question: How do you view retail trends and dealer health? - Management expects retail to trend closer to a 10% decline and is pleased with the health of dealers, noting no significant dealer failures [27][37] Question: What is the status of the Belize product and its revenue expectations? - The Belize product is in low-rate production, with anticipated net sales around $10 million for fiscal '25, and positive early responses from dealers [41][44] Question: How will you approach pricing in light of tariffs? - The company aims to balance volume, price, and cost, considering a variable pricing model due to tariff variability [62][64]

Financial Data and Key Metrics Changes - For Q3 2025, net sales were $76 million, a decrease of $8 million or 10% from the prior year, primarily due to lower unit sales volume, partially offset by a favorable mix [16][17] - Gross margin was 20.8%, down from 23.3% in the prior year, attributed to lower cost absorption from production decreases [17] - Adjusted net income for the quarter was $5 million or $0.30 per diluted share, compared to $8.5 million or $0.50 per diluted share in the prior year [18] - Adjusted EBITDA was $7.5 million, down from $11.7 million in the prior year, with an adjusted EBITDA margin of 9.9% compared to 13.9% [19] Business Line Data and Key Metrics Changes - Within the MasterCraft segment, production of the premium X Star model ramped up, contributing positively to brand momentum [8][13] - The pontoon segment, including Crest and Valise brands, faced challenges with dealer inventories, leading to a 40% year-over-year unit reduction [15] Market Data and Key Metrics Changes - Dealer inventories across brands decreased by 30% over the last year, and more than 45% compared to pre-pandemic levels in fiscal 2019 [9] - The company anticipates a modest impact from tariffs on fiscal 2025 costs, while closely monitoring demand implications [10] Company Strategy and Development Direction - The company is focused on disciplined cost, cash, and pipeline management, with a strong emphasis on product development and dealer support [8][12] - Capital allocation priorities remain disciplined, with a solid balance sheet and no debt, allowing for share repurchase programs to return capital to shareholders [11][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged persistent macroeconomic headwinds and tariff uncertainty affecting the marine sector, leading to a revision of full-year guidance [9][21] - Despite challenges, management remains confident in achieving inventory reduction targets and is optimistic about the upcoming selling season [9][22] Other Important Information - Tim Oxley, the CFO, will retire in June, with Scott Kent set to succeed him, reflecting careful succession planning [5][6] - The X Star model received the National Marine Manufacturers Association Innovation Award, highlighting the company's focus on quality and innovation [12] Q&A Session Summary Question: Can we quantify the tariff impacts and potential price increases for model year '26? - Management indicated that the impact of tariffs is evolving and has not yet determined specific pricing effects, but expects some inflationary impact [26] Question: How is retail performing, and does the previous down 5% to 10% estimate change? - Management expects retail to trend closer to 10% down, with more clarity expected in June [28] Question: What is the direct and indirect exposure to tariffs? - Management has discussions with suppliers to understand costs and expects a modest impact in Q4, with ongoing monitoring [33][34] Question: What is the status of dealer network expansion? - Management reported progress in expanding the dealer network, particularly in Texas and Utah, which are key markets [36] Question: How is the dealer network's balance sheet performing? - Management expressed satisfaction with dealer health, noting no significant dealer failures despite the challenging environment [38] Question: What is the early response to the Belize product? - Management anticipates net sales around $10 million for fiscal '25, with positive dealer interest and response [42][45] Question: Any trends observed at retail in April and May? - Management noted that while retail momentum is not yet vibrant, there are signs of improvement, particularly with premium buyers [51][52]

Revolve Group (RVLV) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Speaker0 Good morning, afternoon, evening. My name is Danica, and I will be your conference operator today. At this time, I would like to welcome everyone to Revolve's First Quarter twenty twenty five Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. Thank you. At this time, I'd like to turn the conference over to Eric Rander ...

Financial Data and Key Metrics Changes - Net sales for Q1 2025 were $724 million, flat compared to the prior year, as 11% growth in Siding offset lower OSB prices [8][9] - EBITDA decreased by $20 million, primarily due to lower OSB prices impacting overall performance [9][20] - The Siding business achieved a 26% EBITDA margin in Q1, with expectations for similar performance in Q2 [10][22] Business Line Data and Key Metrics Changes - Siding revenue grew by 11% due to 9% higher volumes and 2% higher prices, outperforming single-family starts by 15 points [16] - OSB revenue and EBITDA were negatively impacted by lower commodity prices, resulting in a $32 million reduction in revenue and $13 million in EBITDA [20] - The Expert Finish product line set records for both volume and revenue in Q1, contributing positively to the overall Siding growth [18][86] Market Data and Key Metrics Changes - Single-family starts fell by 6% in Q1 due to economic volatility and unfavorable weather conditions [7] - The Siding order file remains robust, with expectations for a record second quarter [8][22] - Tariff impacts on EBITDA were approximately $2 million for Siding in Q1, with an anticipated $12 million impact for the full year if current tariffs persist [12][23] Company Strategy and Development Direction - The company is focused on expanding its Siding business and introducing specialized products to drive growth and margin expansion [10][14] - There is a strategic emphasis on product innovation and market share gains, particularly in the repair and remodel sector [50][56] - The company maintains a strong liquidity position with $1 billion available, allowing for flexibility in operations and potential tariff impacts [14][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the Siding business despite macroeconomic challenges, noting strong order files and growth potential [15][24] - The company anticipates year-over-year revenue growth of 9% to 10% for Siding, with EBITDA margins around 26% [22][23] - Management remains cautious about OSB pricing and market dynamics, indicating a conservative approach to forecasting [22][66] Other Important Information - The company has expanded its revolving credit facility to $750 million, which remains undrawn [21] - New product launches, such as the Naturals Collection, have received positive customer feedback and are expected to contribute to future growth [11][52] Q&A Session Summary Question: Key drivers for Siding outperformance - Management noted strength across the entire order file, particularly in shed orders and the R&R sector, contributing to strong performance [26][28] Question: Inventory levels in the channel - Management indicated that home center inventories were normalizing, with seasonal levels appropriate for the spring [30][32] Question: Siding margin progression - Management expects some margin expansion in the second half of the year, with no significant inflationary impacts materializing [40][41] Question: OSB capacity and market dynamics - Management remains bullish on OSB long-term but acknowledges current market pressures due to excess capacity and weak demand [45][46] Question: Marketing investments and order file success - Management highlighted ongoing investments in marketing and product development as key drivers for order file strength [50][52] Question: Impact of competitor mergers on market share - Management expressed confidence in their market position and ongoing efforts to gain share, regardless of competitor activities [87][100] Question: Future growth in new residential market share - Management indicated a focus on gaining market share with larger builders, with growth expected to be incremental and program-based [108][111]

Group 1 - Many businesses are exercising caution in issuing guidance for fiscal year 2025 due to uncertainties created by tariffs and the recent Liberation Day on April 2nd [1] - The focus is particularly on companies with operations that may be affected by these external factors [1] Group 2 - The article emphasizes the importance of due diligence for investors, particularly in the context of dividend investing in quality blue-chip stocks, BDCs, and REITs [1] - There is a mention of a goal to help lower and middle-class workers build investment portfolios of high-quality, dividend-paying companies [1]

CEO Tim Cook said it would be "very difficult" to predict the longer-term impact of tariffsApple Inc (NASDAQ:AAPL) was among several Big Tech giants reporting earnings this week. While the iPhone maker beat analysts' revenue profit and revenue estimates for the fiscal second quarter, CEO Tim Cook noted it would be "very difficult" to predict the longer-term impact of tariffs on its products. In response, Jefferies and Rosenblatt downgraded AAPL to "underperform" and "neutral" from "hold" and "buy", respecti ...

CTO Realty Growth (CTO) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Company Participants Jenna McKinney - Director of FinanceJohn Albright - President and CEOPhilip Mays - Senior VP, CFO & TreasurerRJ Milligan - Managing DirectorRob Stevenson - Managing Director - Head of Real Estate ResearchMatthew Erdner - DirectorGaurav Mehta - Managing DirectorCraig Kucera - MD - Equity Research Conference Call Participants John Massocca - Senior Research Analyst Operator Good day and thank you for standing by. Welco ...

CTO Realty Growth (CTO) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Company Participants Jenna McKinney - Director of FinanceJohn Albright - President and CEOPhilip Mays - Senior VP, CFO & TreasurerRJ Milligan - Managing DirectorRob Stevenson - Managing Director - Head of Real Estate ResearchMatthew Erdner - DirectorGaurav Mehta - Managing DirectorCraig Kucera - MD - Equity Research Conference Call Participants John Massocca - Senior Research Analyst Operator Good day and thank you for standing by. Welco ...

Amazon CEO Andy Jassy speaks during a keynote address at AWS re:Invent 2024, a conference hosted by Amazon Web Services, at The Venetian Las Vegas on December 3, 2024 in Las Vegas, Nevada.Amazon CEO Andy Jassy looked to reassure investors on the company's first-quarter earnings call on Thursday, saying he's "optimistic" the retail giant could emerge from the current tariff environment stronger than before. "Given our really broad selection, low pricing and speedy delivery, we have emerged from these uncerta ...