Q2 2025 Performance - Adjusted Net Sales reached $801.4 million, exceeding the upper end of guidance[7, 8] - Adjusted EBITDA was $73.3 million, also surpassing the upper end of guidance[7, 8] - Adjusted EBITDA margin increased by 20 bps to 9.1%[38] - Adjusted Net Sales increased 1.4% year-over-year[38, 40] Full Year 2025 Outlook - The company anticipates Adjusted EBITDA in the range of $345 million to $375 million[7] - Free Cash Flow is expected to be at least $130 million[7] - Adjusted Net Sales growth is projected to be between -0.5% and 1.0%, equating to $3.360 to $3.415 billion[7, 48] Sales Drivers - Volume/mix had a negative impact of (6.2)%, influenced by margin management and the griddle recall[40] - The Harris Tea acquisition contributed positively with 4.5%[40] - Pricing adjustments resulted in a benefit of 4.2%[40] Capital Allocation - Capital expenditures are planned at approximately $125 million to enhance capabilities in growing categories[44, 48]

Core Viewpoint - Steven Madden's Q2 2025 earnings report highlighted challenges from new tariffs on U.S. imports and the integration of the Kurt Geiger acquisition, leading to operational headwinds and margin compression, with management withdrawing guidance for fiscal 2025 due to macroeconomic uncertainty [1][18]. Financial Performance - Adjusted earnings per share were $0.20, a significant decline of 64.9% from $0.57 in Q2 2024 [2] - GAAP revenue increased by 6.8% year-over-year to $559.0 million, but fell short of analyst estimates of $578.94 million [2] - Non-GAAP net income dropped to $13.9 million, down 66.3% from $41.2 million in Q2 2024 [2][8] - Gross profit margin was 41.9%, slightly up from 41.5% in Q2 2024, while operating margin fell sharply to 4.0% from 10.4% [2][7] Business Overview - Steven Madden is known for its trend-focused footwear, handbags, and accessories, with a diverse brand portfolio including Steve Madden, Dolce Vita, Betsey Johnson, and Kurt Geiger [3] - The company emphasizes creative design, rapid market response, and a mix of wholesale and direct-to-consumer channels [3] Strategic Focus - Recent priorities include accelerating product design, expanding international markets, and managing a multi-channel distribution network [4] - Key success factors involve staying close to consumer trends, maintaining supply chain flexibility, and managing costs [4] Acquisition Impact - The acquisition of Kurt Geiger contributed to top-line growth but introduced complexities, particularly due to its reliance on China for sourcing [6][12] - Management believes Kurt Geiger will be a long-term growth driver despite the challenges posed by tariffs [6] Revenue Breakdown - Wholesale revenue declined by 6.4%, with a 12.8% drop when excluding Kurt Geiger; DTC revenue surged 43.3% including Kurt Geiger, but organic DTC revenue fell 3% [5] - Licensing fee income grew 57.8% to $2.9 million year-over-year [5] Margin and Cost Analysis - Gross profit margin compressed due to rising input costs and tariffs, with wholesale adjusted gross margin falling to 30.9% from 33.1% in Q2 2024 [7] - Operating expenses rose to 47.2% of revenue, driven by acquisition-related costs, with a reported loss from operations of $40.3 million [8] Supply Chain Adjustments - The company is shifting sourcing away from China, expecting U.S. imports from China to fall to the mid-teens percentage of total production by fall 2025 [14] - New sourcing locations include Vietnam, Cambodia, Mexico, and Brazil, which may increase costs due to higher FOB prices [14] Brand Strategy - The integration of Kurt Geiger into Steven Madden's portfolio is a major focus, leveraging international and U.S. retail networks to scale the brand [17] Outlook - Management did not provide financial guidance for fiscal 2025 due to ongoing uncertainty regarding tariffs and trade conditions [18]

Financial Data and Key Metrics Changes - Woodward reported record net sales of $915 million for the third quarter, an increase of 8% year over year, with earnings per share at $1.76, also up 8% year over year [21][28] - The aerospace segment achieved record sales of $596 million, a 15% increase from $518 million, while industrial segment sales decreased by 3% to $319 million [21][24] - Year-to-date cash provided by operating activities was $238 million, down from $297 million, with capital expenditures at $79 million compared to $72 million [27][28] Business Line Data and Key Metrics Changes - Aerospace segment earnings were $126 million, with margins expanding by 140 basis points to 21.1% of segment sales, driven by price realization and higher volumes [23] - Defense OEM sales surged by 56%, while commercial services sales rose by 30%, exceeding expectations [22] - Industrial sales, excluding China on highway, grew by 9%, with oil and gas and marine transportation both up 16% [24][25] Market Data and Key Metrics Changes - Aerospace services showed sustained strong growth, with legacy engine LRU overhauls increasing compared to last year [14] - The marine demand remained exceptionally strong, with more than half of new ship orders including alternative fuel specifications [19] - The industrial segment's gas turbine portfolio performed well, particularly in LNG and broader oil and gas applications, confirming growth predictions [17] Company Strategy and Development Direction - The company is focused on safety, quality, delivery, and cost improvements, with a significant investment in a new manufacturing facility for the Airbus A350 spoiler actuation production [10][12] - Recent acquisition of Safran's North American electromechanical actuation business strengthens Woodward's position in the market [12][29] - The company plans to increase capital allocation to CapEx in 2026 and 2027 to support future growth and productivity [13][29] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about sustained demand across aerospace and industrial segments despite supply chain challenges [13][20] - The macro environment is being navigated with vigilance, focusing on resilience and customer service amid tariffs and geopolitical matters [20] - The company expects continued momentum in growth drivers across both segments into 2026 and beyond [19] Other Important Information - The company raised its full-year sales and earnings guidance based on strong year-to-date performance and a stable macro environment [9][30] - Free cash flow expectations were lowered due to increased working capital needs, with a revised range of $315 million to $350 million [31] Q&A Session All Questions and Answers Question: Clarification on LEAP and GTF aftermarket volumes - Management confirmed that LEAP and GTF aftermarket volumes are now approaching legacy volumes, with a forecasted crossover around 2028 [35][36] Question: Drivers behind sequential margin decline in Aerospace - The decline was attributed to a mix shift towards lower-margin defense OE products, with expectations for margin improvement in the fourth quarter [38][39] Question: Details on aerospace investments impacting margins - Investments were aimed at driving productivity and improving operational efficiency, with a focus on increasing manufacturing capabilities [46][47] Question: Impact of the Safran acquisition on results - The acquisition is seen as a strategic move to grow capabilities in electromechanical actuation systems, with no immediate macro impact on aerospace [73][76] Question: Expectations for China On Highway sales - Sales are expected to be around $10 million in the fourth quarter, reflecting ongoing economic challenges [92][97] Question: Insights on the A350 spoiler win and expected chipset content - The A350 program includes significant hardware content, with revenue expected to start in 2028 [81][84] Question: Comments on defense demand sustainability - Management feels positive about defense demand through at least the first half of 2026, with ongoing strong performance in smart defense products [88]

Core Insights - Oracle has introduced a new solution, Oracle Fusion Cloud Advanced Inventory Management, aimed at enhancing warehouse operations and supply chain efficiency through embedded AI technology [1][2] Group 1: Product Features - The new solution is designed for healthcare, manufacturing, and distribution organizations that require more than basic inventory transaction execution but do not need a full-scale warehouse management system [2] - Key capabilities include streamlined task assignment, simplified inventory transactions, real-time cross-docking alerts, load-based shipment grouping, suggested put-away locations, and AI-driven inventory automation [7] Group 2: Operational Benefits - Organizations can automate and streamline operations, leading to improved logistics coordination and greater efficiency in warehouse operations [2][3] - Embedded AI acts as an advisor, analyzing supply chain data to enhance business operations and create a resilient supply network [4] Group 3: Comprehensive Solutions - Oracle Cloud SCM provides a complete set of capabilities for inventory management, catering to various operational needs from stock room fulfillment to large-scale distribution centers [3]

Financial Data and Key Metrics Changes - Acme United Corporation reported net sales of $54 million for the second quarter of 2025, a decrease of 3% compared to $55.4 million in the same quarter of 2024 [3][9] - Net income increased to $4.8 million, up 7% from $4.5 million in the prior year, resulting in earnings per share of $1.16 compared to $1.09 [3][12] - For the first six months of 2025, net income was $6.4 million, a 57% increase from $6.1 million in the same period of 2024 [12] Business Line Data and Key Metrics Changes - The U.S. segment experienced a 6% decrease in sales during the second quarter due to canceled back-to-school orders linked to high tariffs [9] - Sales in Canada increased by 28% in the quarter, driven by higher sales of first aid products [11] - The gross margin remained stable at 41% for the second quarter of 2025, consistent with the previous year [11] Market Data and Key Metrics Changes - Sales in Europe decreased by 6% in local currency for both the quarter and the first six months, primarily due to shipment timing [10] - The company faced challenges in the U.S. market due to exceptionally high tariffs, which led to order cancellations [9][10] Company Strategy and Development Direction - Acme United is shifting production from China to other countries such as Malaysia, Thailand, Vietnam, and Egypt to mitigate tariff impacts [6] - The company plans to continue supplying customers with competitive total costs while maintaining service quality [6] - Acme United is investing in automation and expanding capacity in its facilities, particularly in the MedNap and Spill Magic segments [7][34] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging market environment due to tariffs and supply chain disruptions but expressed optimism for growth in the third and fourth quarters [8][20] - The company is working with customers to recover delayed programs and anticipates that demand will not significantly decline [20] - Management noted that while there are concerns about overall customer spending due to price increases, they have adequate stock at good values [20] Other Important Information - Acme United's bank debt decreased to $23 million from $33 million year-over-year, and the company generated approximately $12 million in free cash flow [12] - A new facility for Spill Magic was purchased for $6 million, which will enhance production capabilities [7] Q&A Session Summary Question: What can be expected for the third and fourth quarters? - Management indicated that some delayed orders from the second quarter may come in the third and fourth quarters, and they are looking for growth rather than declines in sales [20] Question: Are competitors faring better or worse? - Management noted that one competitor had a disastrous quarter, while Acme United managed the tariff situation effectively [22] Question: Will the company consider cutting the dividend? - Management confirmed that they just raised the dividend and are comfortable maintaining it, supported by strong cash flow and reduced debt [22] Question: Are there capacity constraints in healthcare lines? - Management stated that the MedNap facility is experiencing increased demand and is working on productivity improvements and capacity expansion [32][33]

Financial Data and Key Metrics Changes - The company reported earnings of $3.74 per diluted share on revenue of $13 billion, with operating earnings of $1.3 billion and net income slightly over $1 billion, reflecting an 8.9% revenue increase year-over-year [5][6] - Operating earnings increased by almost 13%, net earnings rose by 12%, and earnings per share grew by 14.7% compared to the previous year [6] - Year-to-date revenue reached $25.3 billion, up 11.3%, with operating earnings nearly $2.6 billion, up 17.4%, and earnings per share up $1.26 or 20.5% [6] Business Segment Data and Key Metrics Changes - Aerospace segment revenue was $3.06 billion, a 4.1% increase, with operating earnings of $403 million, up 26.3% year-over-year [15] - Marine segment revenue increased by 22.2% to $4.22 billion, with operating earnings of $291 million, up 18.8% quarter-over-quarter [27] - Combat Systems revenue was flat at $2.28 billion, but operating earnings increased by 3.5% to $324 million, with a book-to-bill ratio of 1.0 for the quarter [30][31] - Technologies segment revenue was $3.5 billion, up 5.5%, with earnings of $332 million, up 3.8% [35] Market Data and Key Metrics Changes - The company ended the quarter with a record backlog of $103.7 billion, up 14% from the previous year, and total estimated contract value reached over $160 billion [9][10] - The marine systems segment saw significant growth driven by contracts for submarine construction, particularly for Columbia and Virginia class submarines [27][28] Company Strategy and Development Direction - The company aims to optimize operating leverage across all business units, focusing on continuous improvement and cash generation [43][44] - Management emphasized the importance of stabilizing the supply chain and improving productivity in the marine segment to enhance margins [70][71] - The company plans to maintain its business structure while enhancing operational performance, particularly in areas with challenges [81][82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong second half of the year, with expectations for improved cash conversion rates and continued demand across all segments [11][49] - The company anticipates revenue growth in aerospace and marine segments, while combat systems and technologies are expected to maintain stable performance [46][47][48] Other Important Information - The effective tax rate for the quarter was 17.7%, slightly lower than the full-year outlook of around 17.5% [13][14] - The company refinanced $750 million of notes that matured in May, with no further debt maturities until next year [12] Q&A Session Summary Question: Could you elaborate on the G800 delivery cadence? - The first G800 is expected to deliver soon, with incremental margins expected to improve as production progresses through different lots [54][55] Question: What is driving the slowdown in services? - The slowdown is attributed to the mix of services and volume, with expectations for continued growth aligned with the fleet [58][60] Question: Can you comment on the management reorganization? - The management structure will remain largely the same, focusing on value creation and operational performance across all business units [80][81] Question: What is the margin potential for the portfolio moving forward? - There is potential for margin improvement, particularly in the marine group, with a focus on operational performance [88][90] Question: Is there enough skilled labor for electric boat to handle additional Virginia class submarines? - Skilled labor is not an issue, and the company can support additional growth with some capital investment if required [113]

Core Insights - Acme United Corporation reported a net sales decrease of 3% for Q2 2025 compared to Q2 2024, totaling $54.0 million [1] - The company achieved a net income of $4.8 million for Q2 2025, reflecting a 7% increase from $4.5 million in Q2 2024 [2] - The CEO highlighted the company's successful navigation through tariff uncertainties and the completion of the most profitable quarter in its history [3] Financial Performance - Net sales for the six months ended June 30, 2025, were $100.0 million, a slight decrease from $100.4 million in the same period in 2024 [1] - Gross margin improved to 41.0% in Q2 2025 from 40.8% in Q2 2024, and for the six-month period, it was 40.1% compared to 39.9% in 2024 [6] - The company generated approximately $12.0 million in free cash flow and distributed about $2.2 million in dividends during the twelve months ended June 30, 2025 [7] Segment Performance - U.S. segment net sales decreased by 5% in Q2 2025, primarily due to cancellations of back-to-school orders linked to high tariffs [3] - European net sales for Q2 2025 decreased by 3% in U.S. dollars and 6% in local currency, attributed to shipment delays [4] - Canadian net sales increased significantly by 28% in Q2 2025, driven by strong sales of first-aid products [5] Strategic Initiatives - The company has diversified its supply base through acquisitions in the U.S. and Canada and is actively shifting production to optimize costs and service [3] - Acme United's sourcing team maintains a presence in multiple countries, including China, India, and Vietnam, to enhance supply chain resilience [3]

Core Insights - The global Supply Chain Management (SCM) Market is projected to grow from USD 38.51 billion in 2025 to USD 58.42 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period [1] Market Dynamics - Rising automation in production and distribution is driving demand for SCM solutions that align planning with real-time execution, enhancing efficiency and reducing errors [3] - The need for actionable insights from operational data is pushing companies towards intelligent SCM platforms that improve forecasting and streamline costs [3] - Mobile-first SCM tools are optimizing business performance by providing real-time access to information and enhancing agility in supply chain execution [4][5] Regional Insights - The US is the largest market for supply chain management, driven by operational resilience, digital transformation, and end-to-end visibility [6] - High demand from sectors such as manufacturing, retail, healthcare, and e-commerce is fueling investments in logistics optimization and warehouse automation [6] Deployment Trends - Cloud-based deployments in SCM are expected to witness the highest growth rate, offering scalable and remotely accessible platforms that enhance agility and reduce IT maintenance [7] - These cloud solutions support core modules such as planning, sourcing, production, logistics, and fulfillment, making them the preferred model across industries [7] Technological Opportunities - Digital twins and scenario simulation are transforming supply chain planning by allowing organizations to model and trial the effects of different decisions in real-time [8] - These technologies help businesses anticipate responses to disruptions and streamline resource deployment, enhancing strategic planning [8]

Core Insights - GXO Logistics has signed a multi-year agreement with Sky Italia to manage its supply chain, including storage of Sky's core products and merchandising [1][2] - The Colleferro warehouse, operational since 2010, spans 30,000 square meters and can store over 1 million Sky products, providing a scalable solution for peak business periods [2][3] - GXO's focus on innovation and direct staffing model were key factors in Sky's decision to partner with them, enhancing operational efficiency [3] Company Overview - GXO Logistics is the world's largest pure-play contract logistics provider, with over 150,000 employees across more than 1,000 facilities totaling over 200 million square feet [4] - The company specializes in solving complex logistics challenges for leading blue-chip companies, leveraging advanced technology in supply chain and e-commerce solutions [4]

Financial Data and Key Metrics Changes - Subscription revenue for Q1 FY 2026 was $132.9 million, exceeding the guidance range of $129 million to $132 million, with a year-over-year growth of 1.1% on a constant currency basis [14] - Total revenue for Q1 was $152.6 million, reflecting a 1% increase compared to the prior year [15] - Non-GAAP gross profit was $102.4 million, a slight decrease of 0.2% year-over-year, with a non-GAAP gross margin of 67.1% [15] - Adjusted EBITDA for Q1 was $52.2 million, representing a margin of 34.2%, compared to $50.7 million and a margin of 33.6% in the prior year [16] - Net loss for Q1 was $15.5 million, significantly improved from a net loss of $42.8 million in the same period last year [16] - Adjusted operating cash flow was $48 million, with cash at the end of Q1 totaling $230.2 million, an increase of $33 million from the previous quarter [17] Business Line Data and Key Metrics Changes - Professional services and other revenue for Q1 was $19.7 million, showing a year-over-year decline of 0.1%, indicating stabilization in that business [14] Company Strategy and Development Direction - The company is focused on returning to organic growth and enhancing client retention through improved management and long-term partnerships [6] - E2Open is set to combine with WiseTech Global, which will expand its capabilities in supply chain logistics and enhance its market position [8][10] - The strategic partnership aims to leverage both companies' strengths in software innovation and client service [9][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to grow and innovate despite a volatile business environment [7] - The acquisition by WiseTech is expected to create new opportunities and enhance the value offered to clients [8][19] - The company anticipates closing the acquisition by the end of the calendar year, with ongoing operations as independent entities until then [12] Other Important Information - The company will not provide quarterly guidance moving forward but will maintain full-year guidance [2] - The focus remains on operational efficiency and cost discipline to support growth [16] Summary of Q&A Session Questions and Answers - There was no live Q&A session conducted due to the pending acquisition, and no individual discussions with analysts or investors were held [2]