Core Insights - Xeriant, Inc. is advancing the certification of its eco-friendly nanocomposite construction panel, NEXBOARD, following a successful limited production run that demonstrated exceptional fire resistance and thermal stability [1][3] - The accredited certification agency will conduct final onsite reviews and rigorous testing, including fire tests NFPA 286 and ASTM E84, to validate NEXBOARD's performance against industry standards [2][3] - NEXBOARD is positioned to capture a share of the $1.8 trillion green construction market by 2030, offering a lightweight, recyclable alternative to traditional construction materials while enhancing structural resilience and reducing embodied carbon [3] Company Overview - Xeriant, Inc. focuses on the discovery, development, and commercialization of transformative technologies, particularly advanced materials that can be integrated across various industrial sectors [5] - The company's advanced materials line is marketed under the DUREVER™ brand, which includes NEXBOARD, designed to replace conventional construction materials such as drywall and plywood [6]

Core Viewpoint - James Hardie Industries plc is facing a class action lawsuit due to allegations of misleading investors about inventory destocking during a challenging market period [2][3][4]. Company Overview - James Hardie Industries plc is recognized as the leading producer of high-performance fiber cement building solutions in the United States, providing exterior home and outdoor living solutions [1]. Allegations and Legal Proceedings - The lawsuit claims that the company made false statements during the class period from May 20, 2025, to August 18, 2025, regarding the strength of its North America Fiber Cement segment, despite evidence of inventory destocking [2][3]. - On August 19, 2025, the company disclosed a 12% decline in sales for the North America Fiber Cement segment, attributed to customer destocking that had been occurring since April and May 2025 [4]. - Following this disclosure, the stock price of James Hardie dropped over 34%, from $28.43 per share on August 18, 2025, to $18.64 per share on August 20, 2025 [4]. Investor Information - Shareholders interested in participating in the class action must submit their papers by December 23, 2025, to serve as lead plaintiff [5].

Core Insights - Global equity markets experienced significant growth in Q3, with the S&P 500 rising 8.12% for the quarter and 14.83% year-to-date, while the MSCI EAFE Index increased by 4.77% for the quarter and 25.14% year-to-date [2][3] Market Performance - The S&P 500 achieved back-to-back annual returns of 26% and 25% in 2023 and 2024, respectively, with valuation metrics like the "Buffett Indicator" and CAPE-Shiller P/E at or near record highs [2] - Non-US equities, particularly European stocks, outperformed the S&P 500 year-to-date, benefiting from a weaker US dollar and a resurgence in value recognition [3][11] Fund Performance - Tweedy, Browne Funds reported year-to-date returns ranging from 15.98% for the Value Fund to 23.17% for the International Value Fund II, with the Worldwide High Dividend Yield Value Fund outperforming its benchmark [3][5] - The International Value Fund II had a return of 23.17%, trailing its benchmark, the unhedged MSCI EAFE Index, by 197 basis points [3] Portfolio Activity - The company made strategic adjustments to its portfolio, trimming or selling holdings that reached estimated value and adding to companies perceived as attractively priced, such as Berkeley Group Holdings and Breedon Group [8] - New positions were initiated in Santec Holdings and additional investments were made in companies like Dentium and Azelis Group, reflecting a focus on growth potential and reasonable valuations [8] Outlook - The company is optimistic about the resurgence of non-US equity returns and believes its funds are well-positioned for future market conditions, whether they favor non-US equities or face broader market challenges [11]

While the S&P 500 (^GSPC) includes industry leaders, not every stock in the index is a winner. Some companies are past their prime, weighed down by poor execution, weak financials, or structural headwinds. Some large-cap stocks are past their peak, and StockStory is here to help you separate the winners from the laggards. That said, here are three S&P 500 stocks to avoid and some better alternatives instead. Boeing (BA) Market Cap: $150.2 billion One of the companies that forms a duopoly in the commerc ...

Group 1 - Berkshire Hathaway Inc. is recognized as a "terrific company" by Jim Cramer, who highlighted its upcoming earnings report and the transition of leadership from Warren Buffett to Greg Abel at the end of the year [1] - The company operates a diverse range of businesses, including insurance, utilities, railroads, manufacturing, retail, and consumer products, and has investments in various industries such as energy and aerospace [2] - For Q3, Berkshire Hathaway reported operating earnings of $13.49 billion, reflecting a year-over-year increase of 33.6%, with total revenues nearing $95 billion [2] Group 2 - The net earnings per average equivalent Class A share were reported at $21,413, while Class B shares had net earnings of $14.28 [2]

Company Overview - Knife River Corporation provides aggregates-led construction materials and contracting services in the United States, operating through various segments including Pacific, Northwest, Mountain, Central, and Energy Services [9] Earnings Projections - Knife River is projected to announce its Q3 2025 results on November 3rd, with expected earnings of $2.45 per share and revenue of $1.217 billion [2] - For the current fiscal year, analysts expect Knife River to post an EPS of $4, and $5 for the next fiscal year [3] Recent Earnings Results - In Q2 2025, Knife River reported earnings of $0.89 per share, missing analysts' estimates of $1.27 by $0.38, with revenue of $833.80 million compared to the consensus estimate of $902.26 million [3] - The company's revenue increased by 3.3% year-over-year, with a net margin of 5.20% and a return on equity of 10.58% [3] Stock Performance - Knife River's stock opened at $60.39, with a market cap of $3.42 billion, a PE ratio of 22.45, and a price-to-earnings-growth ratio of 5.05 [4] - The stock has a one-year low of $58.72 and a high of $108.83, with a 50-day simple moving average of $72.81 and a 200-day simple moving average of $82.82 [4] Analyst Ratings and Price Targets - Oppenheimer reduced its price target for Knife River from $120.00 to $100.00 while maintaining an "outperform" rating [5] - Wells Fargo initiated coverage with a "cautious" rating, while DA Davidson lowered its price target from $105.00 to $95.00, maintaining a "buy" rating [6] - The consensus rating for Knife River is "Moderate Buy" with an average target price of $106.83 [6] Institutional Investor Activity - Ameriprise Financial increased its holdings in Knife River by 30.1%, now owning 787,736 shares valued at $64.31 million [7] - Smartleaf Asset Management raised its stake by 1,365.6%, while Man Group plc increased its holdings by 51.8% [7] - Institutional investors and hedge funds own 80.11% of Knife River's stock [7]

Core Insights - Great Lakes Dredge & Dock Corporation (GLDD) is expected to report its third-quarter 2025 financial results on November 4, prior to market opening [1] - In the previous quarter, GLDD's adjusted earnings per share (EPS) and revenues exceeded the Zacks Consensus Estimate by 58.5% and 12.3%, with year-over-year growth of 61.5% and 20.9% respectively [1] Financial Performance - The Zacks Consensus Estimate for GLDD's third-quarter adjusted EPS remains at 17 cents, reflecting a 30.8% year-over-year increase from 13 cents [3] - The consensus estimate for revenues is $197.6 million, indicating a 3.4% year-over-year increase [3] - GLDD has surpassed the consensus earnings mark in each of the last four quarters [2] Revenue Drivers - Revenue growth is anticipated due to strong infrastructure demand, expansion in the offshore wind sector, and effective project execution [4] - Maintenance dredging, which accounted for 11.8% of total revenues in Q2 2025, is expected to show weaker demand, particularly in Florida, Texas, Puerto Rico, and Mississippi [5] - Coastal protection dredging, making up 33.7% of Q2 2025 revenues, is projected to gain momentum due to increased government initiatives [5] - Capital dredging, which comprised 54.5% of Q2 2025 revenues, is expected to face challenges due to decreased revenues from Virginia projects [5] Segment Performance - The Zacks Consensus Estimate for Dredging Capital revenues is $107.5 million, a slight decline of 1.1% from the previous year [6] - Dredging Maintenance revenues are estimated at $21.2 million, reflecting a significant decrease of 44.1% from $37.9 million a year ago [6] - Dredging Coastal Protection revenues are expected to reach $72.5 million, indicating a year-over-year growth of 65.1% [6] Earnings Outlook - GLDD's bottom line is projected to improve year-over-year due to better utilization, project performance, and a favorable project mix [7] - Q3 revenues are expected to grow 3.4% year-over-year, driven by strong coastal protection activities [8] - Despite higher labor costs, improved project mix and equipment utilization are likely to enhance margins [8] - The focus on higher-margin capital and coastal protection projects is anticipated to support the bottom line, despite increased employee benefit expenses [9] Earnings Prediction Model - The current model does not predict an earnings beat for GLDD, as it has an Earnings ESP of 0.00% and a Zacks Rank of 2 (Buy) [10][11]

Financial Data and Key Metrics Changes - Adjusted EBITDA of $735 million improved 27% compared to the prior year, with an adjusted EBITDA margin expansion of 310 basis points [4][10] - Aggregate shipments increased 12% in the quarter, resulting in a 3% higher year-to-date shipment volume [4][5] - Aggregates cash gross profit per ton grew 9% in the quarter [4] - Free cash flow increased by 31% to over $1 billion, with a conversion rate of 94% [10] Business Line Data and Key Metrics Changes - Aggregates freight-adjusted selling price saw a mix-adjusted pricing improvement of 5% in the quarter and 7% year-to-date [5] - Aggregates freight-adjusted unit cash cost of sales was 2% lower than the prior year in the third quarter [5][10] - The trailing 12 months aggregate cash gross profit per ton was $11.51, 27% higher than two years ago [8] Market Data and Key Metrics Changes - Public contract awards in the company's markets increased by 17% year-over-year [6] - Data center activity remains robust with approximately 60 million sq ft under construction and another 140 million sq ft proposed [6] - Single-family housing starts and permits continue to decelerate across most U.S. markets, while multifamily residential data shows varied growth across geographies [5][6] Company Strategy and Development Direction - The company is focused on enhancing its core through the Vulcan Way of Operating and Selling, with a disciplined approach to acquisitions and portfolio management [8][12] - The recent divestiture of asphalt and construction services assets is aimed at reallocating resources into more attractive growth opportunities [8] - The company anticipates continued growth in public construction activity and improving private non-residential demand, while residential demand remains weak [5][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning to benefit from eventual recovery in single-family residential markets [6] - The company expects organic shipments to return to growth in 2026, with mid-single-digit pricing improvement anticipated [12] - Management highlighted that the public side of construction is strong, with significant federal and state funding yet to be spent [7][12] Other Important Information - The company has maintained an adjusted EBITDA leverage ratio just below the targeted range of 2-2.5x while improving return on invested capital by 40 basis points [10] - Year-to-date capital expenditures are projected to be approximately $700 million, with $442 million already deployed [10] Q&A Session Summary Question: What are Ronnie's top priorities as he transitions into his new role? - Ronnie emphasized continuing to build on the culture established by Tom, focusing on safety and enhancing core operations through disciplined acquisitions and greenfield initiatives [18][19] Question: What are the trends driving the guidance towards the low end for the full year? - Tom noted that while Q3 volumes benefited from favorable weather and pent-up demand, Q4 faces tough comparisons due to strong weather last year [26][28] Question: Can you elaborate on the pricing outlook for 2026? - Tom indicated that pricing is expected to improve due to growing highway demand and improvements in non-residential sectors [33][34] Question: How much of the unit cost reduction was due to the Vulcan Way of Operating? - Tom attributed the cost reduction primarily to the Vulcan Way of Operating, with improved efficiencies and volume benefits contributing as well [36][37] Question: What is the outlook for public infrastructure and contract awards? - Tom highlighted that public contract awards are increasing, with significant federal and state funding still to be utilized, indicating a strong outlook for public infrastructure [92][93]

Financial Data and Key Metrics Changes - Adjusted EBITDA of $735 million improved by 27% compared to the prior year, with an adjusted EBITDA margin expansion of 310 basis points [4] - Aggregate shipments increased by 12% in the quarter, resulting in a 3% higher shipment year-to-date [4] - Aggregates cash gross profit per ton grew by 9% in the quarter [4] - Free cash flow increased by 31% to over $1 billion, with a conversion rate of 94% [10] Business Line Data and Key Metrics Changes - The aggregates unit profitability improvement is foundational to cash generation and overall growth [10] - The trailing 12 months aggregate cash gross profit per ton was $11.51, 27% higher than two years ago [8] - Aggregates freight-adjusted unit cash cost of sales was 2% lower than the prior year in the third quarter [5] Market Data and Key Metrics Changes - Public contract awards in the markets increased by 17% year-over-year [7] - Data center activity remains robust with approximately 60 million square feet under construction and another 140 million square feet proposed [6] - Single-family housing starts and permits continue to decelerate across most U.S. markets [5] Company Strategy and Development Direction - The company is focused on growing profitability through the Vulcan Way of Operating and disciplined M&A [8] - The strategy includes enhancing core operations and expanding reach through aggregate-centric acquisitions and greenfield initiatives [19] - The company plans to redeploy proceeds from divested assets into attractive growth opportunities [8] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued growth in public construction activity and improving private non-residential demand, while residential demand remains weak [5][12] - The company expects full-year shipments to increase approximately 3%, yielding full-year adjusted EBITDA of $2.35 to $2.45 billion, a 17% increase over the prior year at midpoint [7] - Management expressed confidence in the company's positioning to benefit from eventual recovery in single-family residential markets [6] Other Important Information - The company completed the disposition of its asphalt and construction services assets in early October [8] - Investments in technology and talent are yielding positive results in the business [11] Q&A Session Summary Question: What are Ronnie's top priorities as he transitions into his new role? - Ronnie emphasized continuing to build on the culture established by Tom, focusing on safety and enhancing core operations through the Vulcan Way of Operating and Selling [19] Question: What are the trends driving towards the low end of the full-year guidance? - Tom noted that the third quarter benefited from strong public demand and pent-up demand, but Q4 faces tough comparisons due to good weather last year [28] Question: Can you provide more detail on pricing expectations for 2026? - Tom indicated that pricing is expected to improve due to growing highway demand and improvements in non-residential sectors [32] Question: How much of the unit cost reduction was due to the Vulcan Way of Operating? - Tom attributed the cost reduction primarily to the Vulcan Way of Operating, with improved efficiencies and volume benefits contributing as well [35] Question: What are the key geographies showing growth? - Tom highlighted that the Southeast is the healthiest market, with strong growth in non-residential sectors, particularly data centers [41] Question: How does the company view its portfolio shaping going forward? - Ronnie stated that the company will continue to focus on aggregate-led businesses and evaluate potential acquisitions based on strategic fit [52] Question: What is the outlook for cash gross profit per ton growth? - Ronnie expressed confidence that cash gross profit will continue above historical norms, supported by demand recovery and operational efficiencies [64]

Financial Data and Key Metrics Changes - Q3 revenues reached $1.3 billion, a 1% increase year-over-year, slightly below previous expectations [5][18] - Adjusted EPS for Q3 was $5.61, down 3% compared to the previous year [18] - Adjusted EBITDA for the quarter was $349 million, resulting in an adjusted EBITDA margin of 25.9%, a decrease of 170 basis points from the prior year [18][19] Business Line Data and Key Metrics Changes - CCM reported Q3 revenue of $1 billion, essentially flat year-over-year, with adjusted EBITDA of $303 million, down 8% compared to the prior year [19][20] - CWT reported Q3 revenue of $346 million, up 3% year-over-year, but organic revenue declined 8% due to lower volumes [21][19] Market Data and Key Metrics Changes - The ongoing challenges in the new construction market are attributed to higher interest rates, affordability issues, and economic uncertainty [4][6] - Housing prices have risen over 45% since 2020, with the median home price exceeding $430,000, creating significant affordability challenges [7][8] Company Strategy and Development Direction - The company is focused on its Vision 2030 strategy, emphasizing product innovation, operational excellence, and strategic M&A to enhance capabilities and expand market reach [9][17] - Recent acquisitions are expected to create value and expand addressable markets, with a goal of two to three acquisitions annually [12][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to create shareholder value despite near-term challenges, citing strong demand for reroofing and ongoing innovation [8][9] - The full-year 2025 guidance has been revised to flat revenue with adjusted EBITDA margins expected to decline by approximately 250 basis points [16][24] Other Important Information - The company repurchased 800,000 shares for $300 million and raised its dividend by 10%, marking the 49th consecutive annual increase [9][15] - The company generated free cash flow of $620 million in the first nine months of 2025, on track to exceed its free cash flow margin target of 15% for the full year [22][23] Q&A Session Summary Question: Impact of destocking in Q3 and outlook for Q4 - Management indicated that destocking is expected as part of normal seasonal patterns, with no major impact anticipated [33][34] Question: Leveraging the Carlisle experience in a competitive environment - The company is enhancing its customer service capabilities to help contractors operate more efficiently, which is expected to provide a competitive advantage [40][42] Question: Outlook for EBITDA margins in Q4 by segment - CCM's adjusted EBITDA margin is expected to be around 26% in Q4, while CWT's margins are anticipated to decline by 250 to 300 basis points compared to the prior year [55] Question: Pricing outlook for CWT and raw material trends - Pricing for CWT is expected to decline slightly, with mixed trends in raw material prices, particularly MDI and polyol [69]