Financial Data and Key Metrics Changes - Total revenue decreased by approximately $3 million or 2.7% to approximately $108.5 million for the quarter ended December 31, 2025, compared to $111.5 million in the prior year period [4] - Operating income increased by approximately $2.7 million or 352.9% to $3.5 million for the first quarter, compared to approximately $800,000 in the prior year period [9] - Adjusted EBITDA for the first quarter was approximately $7.8 million, an increase of approximately $2 million or 35.7% compared to $5.7 million in the prior year period [10] Business Line Data and Key Metrics Changes - Retail-Flooring segment revenue for the first quarter was approximately $25.3 million, down $6.4 million or 20.2% compared to $31.7 million in the prior year period, primarily due to changes in store footprint and softness in the housing market [5] - Flooring Manufacturing segment revenue for the first quarter was approximately $28.9 million, a decrease of approximately $300,000 or 1.1% compared to approximately $29.2 million in the prior year period [6] - Steel Manufacturing segment revenue for the first quarter was approximately $31.9 million, a decrease of approximately $1.4 million or 4.3% compared to approximately $33.3 million in the prior year period [7] Market Data and Key Metrics Changes - The decline in revenue was primarily attributable to a $7.1 million decline in the Retail-Flooring and Steel Manufacturing segments, partially offset by a $4.1 million increase in the Retail-Entertainment and Flooring Manufacturing segments [4] - Retail-Entertainment segment revenue for the first quarter was approximately $23.6 million, an increase of approximately $2.3 million or 11% compared to $21.3 million in the prior year period [4] Company Strategy and Development Direction - The company is rolling out a comprehensive strategy to integrate AI across business units to modernize operations and improve efficiency [11] - By applying AI alongside robotics and data analytics, the company aims to reinforce cost discipline that supports its long-term strategy [12] Management's Comments on Operating Environment and Future Outlook - Management noted that the portfolio companies continued to strengthen their operating disciplines and optimize cost structures despite sustained softness in new home construction and home refurbishment markets [3] - The company delivered a solid first quarter marked by meaningful operating improvements across the businesses, despite a challenging housing market backdrop [11] Other Important Information - Gross profit was approximately $35.4 million for the first quarter, essentially unchanged compared to the prior year period, but gross margin increased by 90 basis points to 32.6% [8] - General and administrative expense decreased approximately $2.2 million or 7.4% to approximately $27.8 million, driven by targeted cost reduction initiatives [9] Q&A Session Summary Question: Are there any questions from the participants? - There were no questions from the participants during the Q&A session [13]

Core Insights - Carvana, CRH, and Comfort Systems USA are set to join the S&P 500 index on December 22, replacing LKQ, Solstice Advanced Materials, and Mohawk Industries [1][4] - Following the announcement, Carvana shares rose over 10%, CRH shares increased by 6%, and Comfort Systems USA shares gained about 2% [1] - Stocks added to major indexes like the S&P 500 typically experience increased investor interest and confidence, leading to potential price appreciation [2] Company Performance - Carvana and Comfort Systems USA have more than doubled in value in 2025, indicating strong market performance [3] - CRH shares have increased by nearly 40% year-to-date, reflecting positive investor sentiment and market conditions [3]

Core Insights - The S&P 500's quarterly rebalancing on December 22 includes Carvana, marking a significant and unexpected recovery for the company [1][5] - Carvana's inclusion in the index is notable given its near-collapse in 2022, highlighting a remarkable turnaround in its business performance [2][10] - Following the announcement, Carvana's stock surged nearly 10% in after-hours trading, contributing to a 97% year-to-date gain and nearly 30% increase in the past month [3][4] Company Performance - Carvana is experiencing record profits and significant unit expansion, positioning itself for continued growth [3][10] - The addition of Carvana to the S&P 500 indicates that it has reached a scale that attracts institutional investment, enhancing its market visibility and trading volume [9][10] Index Changes - Alongside Carvana, several companies are being removed from the S&P 500, including CRH plc, Comfort Systems USA, LKQ Corp., Solstice Advanced Materials, and Mohawk Industries [6][8] - The reshuffling of the index reflects ongoing changes in market dynamics and company performances [5][6]

Core Insights - Mohawk Industries, Inc. is one of the largest flooring manufacturers globally, offering a diverse range of products for residential and commercial use [1][2] - The company operates with a vertically integrated model, covering design, manufacturing, distribution, and sales, and has a market capitalization of $8.03 billion [2] Financial Performance - Mohawk is expected to report a profit decline of 8.3% year-over-year for Q3 2025, with an anticipated profit of $2.66 per diluted share [3] - For the fiscal year 2025, the profit is projected to decrease by 6.2% annually to $9.10 per diluted share [4] - The company reported net sales of $2.80 billion for Q2, slightly exceeding analyst expectations of $2.79 billion, despite a 7.7% drop in adjusted EPS to $2.77 [7] Stock Performance - Over the past 52 weeks, Mohawk's stock has decreased by 18.3%, while it has increased by 5.9% year-to-date [5] - In comparison, the S&P 500 Index has risen by 17.2% over the same 52-week period [5] - The company has underperformed within the consumer cyclical sector, where the Consumer Discretionary Select Sector SPDR Fund has gained 21.1% over the past year [6]

As filed with the U.S. Securities and Exchange Commission on September 8, 2023. Registration No. 333-273246 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT No. 4 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Northann Corp. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organization) Nevada 3089 88-1513509 (Primary Standard Industrial Classification Code No.) (I.R.S. Employer Identification No.) c ...