Financial Data and Key Metrics Changes - The company reported nearly 7% net sales growth in Q2 2025, reaching $2.1 billion, with approximately 5% organic growth [3][5] - Gross margin improved to 26.8%, up 10 basis points sequentially and 40 basis points year-over-year [4][6] - Adjusted diluted earnings per share increased approximately 13% to $0.87 compared to $0.77 in the prior year [6] - SG&A expenses rose 13% to $302 million, with half of the increase attributed to acquisitions and one-time costs [6][42] Business Line Data and Key Metrics Changes - Sales of meter products declined year-over-year due to project delays, but a growing backlog is expected to support strong sales growth in the second half [4][47] - The municipal market remains strong, with healthy demand driven by funding and infrastructure projects [3][9] - Residential lot development slowed, particularly in the Sun Belt markets, leading to a revised outlook for residential demand [3][4] Market Data and Key Metrics Changes - Municipal end market volumes are expected to grow in the low single digits, while non-residential volumes are projected to be roughly flat [6] - Residential lot development is anticipated to decline in the low double digits for the full year [6][18] Company Strategy and Development Direction - The company is focusing on organic growth and complementary acquisitions, with recent acquisition of Canada Waterworks enhancing its position in the Canadian market [4][5] - Investments are being made in new locations and technology solutions to improve efficiency and support long-term margin expansion [4][6] - The company aims to capture growth opportunities in aging U.S. water infrastructure and is confident in its long-term growth and profitability prospects [4][6] Management's Comments on Operating Environment and Future Outlook - Management noted that higher interest rates and affordability concerns are impacting residential demand, which is expected to remain soft [3][4] - The company is implementing targeted cost-out actions to improve productivity and operating margins, with some benefits expected in the second half of the year [4][6] - Management remains optimistic about the long-term demand characteristics across its end markets and the potential for above-market growth [6][18] Other Important Information - The company generated $34 million of operating cash flow in the quarter and returned $8 million to shareholders through share repurchases [6] - Total liquidity was reported at $1.1 billion, primarily from availability under the ABL credit facility [6] Q&A Session Summary Question: What are the factors affecting the revenue guidance? - Management indicated that the decline in residential outlook is the main driver, but there are positive contributions from municipal markets and successful sales initiatives [8][9] Question: What are the growth opportunities in the evolving water market? - Management expressed optimism about the water market, highlighting increased demand from data centers and aging infrastructure projects [10][11] Question: How is the company addressing higher operating expenses? - Management acknowledged stubborn inflation and higher costs but emphasized ongoing cost-out actions and targeted investments for growth [15][16] Question: What is the outlook for residential demand? - Management noted that residential demand weakened throughout Q2 and is expected to remain low double digits for the rest of the year [17][18] Question: How does the company view the competitive environment? - Management stated that the competitive environment remains typical, with no significant changes, and emphasized the stability Core & Main provides to customers [59][60]

Financial Data and Key Metrics Changes - For Q2 2025, the company reported net sales of $739.8 million, a decline of 4.2% year over year, with comparable sales down 5% [20][24] - Adjusted operating income was $30.3 million compared to $32.5 million last year, with adjusted net income at $16.7 million versus $17.1 million last year [24][25] - The effective tax rate on adjusted results was 10.1%, down from 20.6% last year [24] Business Line Data and Key Metrics Changes - U.S. retail segment sales declined 4.8% year over year, with comparable sales down 4.9%, showing significant improvement from Q1 [20][21] - The women's dress category posted a positive 5% comparable sales, a 900 basis point improvement from Q1 [20][21] - The brand portfolio segment saw total sales down 23.8% year over year, primarily due to a decline in internal sales to DSW, while external wholesale business grew by 7% [22][23] Market Data and Key Metrics Changes - Canadian retail segment sales were up 0.4% year over year, with comparable sales down 0.6%, indicating improvement from Q1 [21] - The athletic category experienced a slight negative comp of down 2%, but showed a two-point improvement from the first quarter [21] Company Strategy and Development Direction - The company is focusing on two pillars: customer and product, aiming to drive growth through scaling private label and enhancing wholesale models [11] - A new brand repositioning campaign titled "Let Us Surprise You" was launched to reinvigorate the DSW brand identity [12][39] - The company is optimizing inventory by reducing choice count by 25% while increasing depth by 15%, aiming to improve product availability and customer satisfaction [13][51] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for the remainder of the year, despite ongoing macroeconomic headwinds and uncertainties related to tariffs [18][26] - The company is withholding full-year guidance due to the unpredictable macro environment but remains focused on disciplined execution [18][26] Other Important Information - The company ended Q2 with total inventories down 5% year over year and utilized excess cash to pay down debts, reducing total debt outstanding to $516.3 million [25] - The company fulfilled over 80% more digital demand through its logistics center compared to last year, enhancing operational efficiency [15] Q&A Session Summary Question: Can you elaborate on the interquarter trends and comp sales? - Management noted sequential improvement throughout the quarter, particularly in women's dress and athletic categories, with positive trends continuing into August [28][29] Question: What are the pressures foreseen in Q3 due to tariffs? - Management indicated that the primary concern is the indirect impact of tariffs on consumer sentiment rather than direct costs, with selective price increases implemented [34][35] Question: How is the new marketing campaign expected to impact store productivity? - Management expressed excitement about the campaign's early positive feedback and emphasized the importance of in-store experiences as a core differentiator [39][40] Question: What are the expectations for brand activations in Q4? - Management highlighted strong performance from brands like Birkenstock and noted that the top eight brands accounted for 45% of total sales [45] Question: Can you elaborate on the deeper assortment strategy? - Management confirmed a focus on increasing product availability and inventory productivity, with a significant reduction in choice count and an increase in depth planned [51]

SailPoint (NasdaqGS:SAIL) Q2 2026 Earnings Call September 09, 2025 08:30 AM ET Company ParticipantsMark McClain - Founder and CEOMatt Mills - PresidentBrian Carolan - CFOScott Schmitz - SVP of Investor RelationsOperatorGood day, and thank you for standing by. Welcome to the SailPoint second quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you wi ...

U.S. Global Investors (NasdaqCM:GROW) Q4 2025 Earnings Call September 09, 2025 08:30 AM ET Company ParticipantsHolly Schoenfeldt - Director of MarketingFrank Holmes - CEO and CIOLisa Callicotte - CFOHolly SchoenfeldtInvestment Officer Lisa Callicotte, Chief Financial Officer, and myself, Holly Schoenfeldt, Director of Marketing. Moving on to slide number three. During this webcast, we may make forward-looking statements about our relative business outlook. Any forward-looking statements and all other statem ...

Financial Data and Key Metrics Changes - Diluted EPS reached $5.77 per share, a 19% increase from the prior year [6] - Net income was $215 million, and EBITDA was $414 million, both reflecting a 20% increase from the prior year [6] - Total revenue for the quarter was $4.6 billion, an increase of $469 million, or 11.5% from the prior year [11] - Gross profit was $1.11 billion, up 16.5% from the prior year [12] - Operating expenses increased by 14.6%, or $88.7 million, primarily due to unit growth and higher insurance and property taxes [14] Business Line Data and Key Metrics Changes - Same-store sales increased by 4.3% for the first quarter, with an average margin of 41.9% [7] - Prepared food and dispensed beverage sales rose by 5.6%, with an average margin of 58% [8] - Grocery and general merchandise sales increased by 3.8%, with an average margin of 35.9%, up 50 basis points from the prior year [9] - Fuel same-store gallons sold were up 1.7%, with a fuel margin of $0.41 per gallon [9] Market Data and Key Metrics Changes - The Mid-Continent region saw an approximate 3% decline in fuel gallons sold, indicating market share growth for the company [9] - The average retail price of fuel was $3.00 per gallon, down from $3.31 a year ago [12] Company Strategy and Development Direction - The company is in the last year of its three-year strategic plan, focusing on executing high-level operations and growth [6] - The integration of recent acquisitions, including the Fikes Wholesale transaction, is a key focus area [2][3] - The company aims to maintain a competitive edge through its prepared food offerings and grocery items, positioning itself as a one-stop shop for customers [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to continue executing its strategic plan and growing the business [6] - The company anticipates that the second quarter operating expenses will be up mid-teens, consistent with previous communications [18] - Management noted that guest insights from Casey's Rewards members indicate strong performance across all income cohorts [37] Other Important Information - The company has total available liquidity of $1.4 billion and a debt-to-EBITDA ratio of 1.8 times [16] - The board voted to maintain the quarterly dividend at $0.57 per share [17] - The company repurchased approximately $31 million in shares during the first quarter [17] Q&A Session Summary Question: Can you unpack the benefit from lower cheese costs and how much of your needs you have booked for the year? - Management indicated that cheese costs were slightly favorable compared to the prior year, with about 70% of forward cheese requirements locked for the remainder of the fiscal year [26][27] Question: Can you provide an update on the Fuel 3.0 initiative? - Management reported that approximately 8.8% of total fuel is now procured through Fuel 3.0, with about 3% from the base business [29] Question: Can you discuss the overall health of your consumer across income cohorts? - Management noted strong performance across all income cohorts, with lower income groups still shopping at healthy levels [37] Question: What are the learnings from the SEFCO integration? - Management stated that the SEFCO integration is on track, with expectations for synergies primarily coming from remodeling stores and enhancing prepared food offerings [71][72] Question: How should we think about store growth in the outer years? - Management indicated that the company aims for 4 to 5% unit growth per year, with opportunities for expansion in existing and adjacent markets [76][77]

Financial Data and Key Metrics Changes - The company reported an annual recurring revenue (ARR) of $982 million, representing a 28% year-over-year increase, with SaaS ARR growing 37% year-over-year [4][20] - Total revenue for Q2 was $264 million, an increase of 33% year-over-year, with subscription revenue growing 36% year-over-year [20][22] - Adjusted operating margins expanded by 980 basis points to 20.4%, with cash flow from operating activities reaching a record $50 million [20][23] Business Line Data and Key Metrics Changes - The company saw a 48% year-over-year increase in customers with ARR greater than $1 million, indicating strong demand for its identity security solutions [4] - New SaaS customers had a 40% attach rate of add-on modules, up from 25% in the same quarter last year, contributing to the overall growth [21][22] - ARR from emerging add-on modules more than doubled year-over-year, contributing to a net revenue retention (NRR) of 114% [21][22] Market Data and Key Metrics Changes - The company is experiencing robust demand across various industry verticals, with a notable increase in average ARR per new SaaS customer by 30% year-over-year [21][22] - The company is positioned to capitalize on the growing trend of enterprises recognizing the need for real-time identity security controls [6][11] Company Strategy and Development Direction - The company aims to lead in the evolving identity security market by integrating identity, security, and data context into a unified platform [6][11] - The introduction of new products like SailPoint Agent Identity Security is designed to address the governance of AI agents and machine identities [8][15] - The company is focused on modernizing its offerings to meet the challenges posed by the rise of AI and machine identities, emphasizing real-time controls and governance [12][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position heading into the second half of the year, citing strong performance metrics and a robust pipeline [30] - The company anticipates ARR to cross the billion-dollar mark in Q3 2026, with a year-over-year growth expectation of 26.5% [24] - Management highlighted the importance of adapting to the evolving landscape of identity security, particularly with the rise of AI agents [8][11] Other Important Information - The company is increasing its fiscal year 2026 ARR outlook by $10 million to $1.11 billion, reflecting a 26.6% year-over-year growth [24][25] - The acquisition of key assets from Savvy is expected to enhance the company's capabilities in SaaS application visibility and identity risk detection [14] Q&A Session Summary Question: Can you provide more details on the guidance and the impact of federal term renewals? - Management confirmed a 100% renewal rate for term-based federal renewals in Q2, with a $7 million timing shift in revenue recognition from Q3 to Q2 [30][31] Question: What are the dynamics for net new ARR in Q3 and Q4? - Management noted a consistent performance in Q2 and expressed optimism for Q3, expecting to maintain or increase the rate of movement to SaaS [36][60] Question: Can you elaborate on the machine identity market and opportunities? - Management highlighted the need for governance of non-human identities and the unique approach SailPoint is taking to address this challenge [40][41] Question: How does the company view the competitive landscape and governance space? - Management indicated that while there is increased competition, the core competitive landscape remains stable, with strong win rates against traditional competitors [77][78] Question: What are the implications of the shift towards integrated identity solutions? - Management acknowledged the trend towards tighter integration of identity with security ecosystems but emphasized the need for flexibility in customer solutions [88][89]

Financial Data and Key Metrics Changes - Average assets under management were $1.4 billion for the year ending June 30, 2025, with operating revenues of $8.5 million, a decrease of $2.5 million or 23% from the previous year [37][38] - The net loss for the year was $334,000, or $0.03 per share, compared to a net income of $1.3 million, or $0.09 per share for fiscal year 2024, representing an unfavorable change of $1.7 million [38] Business Line Data and Key Metrics Changes - Operating revenues decreased primarily due to a reduction in assets under management, especially in the JETS ETF [38] - Operating expenses for the current quarter were $11.4 million, relatively flat compared to the prior year [38] Market Data and Key Metrics Changes - The company noted that gold has reached an all-time high in 2025, with gold stocks showing significant growth, while the ETF space has not experienced redemptions as seen in other ETFs [12][13] - The SEA ETF is connected to emerging markets, highlighting the importance of cargo shipping in global trade [10] Company Strategy and Development Direction - The company aims to create thematic products that are sustainable using a Smart Beta 2.0 strategy, focusing on rigorous backtesting and thematic investing [7][8] - There is a strategic focus on increasing exposure to the Bitcoin ecosystem and acquiring fund assets regularly [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for rapid changes in fund flows and directional shifts in the market, despite current apathy towards JETS and gold [32][35] - The company believes it is well-positioned for a long-term secular bull market, emphasizing the importance of thematic asset classes [34] Other Important Information - The company has a strong balance sheet with high levels of cash and securities, and a current ratio of 20.9 to 1 [39] - The shareholder yield is reported at 9%, indicating an attractive investment opportunity [32] Q&A Session Summary Question: What is the outlook for the JETS ETF? - Management noted that JETS has validated the concept of capturing a significant portion of global GDP, and despite current challenges, they remain positive about its future performance [27][28] Question: How is the company addressing the current market volatility? - The company is strategically buying back stock on down days and preserving cash for future growth opportunities [8][30] Question: What are the key themes driving the company's investment strategy? - The focus is on thematic investing in sectors such as gold, precious metals, and the Bitcoin ecosystem, with an emphasis on macroeconomic factors and government spending [4][9]

Financial Data and Key Metrics Changes - Total sales for the quarter were down 4% year over year, with a 5% decline in comparable sales, reflecting a 280 basis point improvement from the first quarter [4][19] - Adjusted operating expenses were down over $14 million compared to last year, achieving 350 basis points of leverage compared to Q1, supporting year-over-year EPS growth [5][22] - Consolidated gross margin was 43.7% in the second quarter, decreasing by 30 basis points versus the prior year but leveraging 70 basis points from the first quarter [21] Business Line Data and Key Metrics Changes - In the U.S. retail segment, sales declined 4.8% year over year, with comp sales down 4.9%, showing significant improvement from Q1 [19] - Women's dress category posted a positive 5% comp, a 900 basis point improvement from the first quarter, while athletic sales were slightly negative at down 2% [20] - Canadian retail segment sales were up 0.4% year over year, with comps down 0.6%, indicating another significant improvement from Q1 [20] Market Data and Key Metrics Changes - The largest number of signups for the VIP rewards program occurred in stores, with store traffic improving and positively impacting the program [5] - The DoorDash partnership resulted in approximately 85% of transactions being from new customers, bolstering interest in stores across local geographies [7] - The brand portfolio segment saw total sales down 24% compared to last year, primarily due to lower internal sales, but wholesale activity across external retail partners delivered year-over-year growth [9][21] Company Strategy and Development Direction - The company is focusing on two pillars: customer and product, with plans to scale private label and build a more profitable wholesale model [10] - A new brand repositioning campaign, "Let Us Surprise You," aims to enhance customer engagement and brand identity [11] - The company is committed to optimizing inventory availability, reducing choice count by 25% while increasing depth by 15% for key styles [12] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for the remainder of the year, despite ongoing macroeconomic headwinds and uncertainties related to tariffs [16][24] - The company is focused on disciplined execution and navigating the near-term environment while building a business grounded in brand strength [16] - Management remains committed to their strategy and transformation, encouraged by early signs of positive momentum [17] Other Important Information - The company ended the second quarter with total inventories down 5% year over year and utilized excess cash to pay down debts, ending with total debt outstanding of $516.3 million [23] - The effective tax rate for the second quarter on adjusted results was 10.1%, compared to 20.6% last year [22] Q&A Session Summary Question: Can you elaborate on the interquarter trends and comp sales? - Management noted sequential improvement throughout the quarter, particularly in women's dress and athletic categories, with positive trends continuing into August [28][30] Question: What are the pressures foreseen in Q3 due to tariffs? - Management highlighted concerns about the indirect impact of tariffs on consumer sentiment rather than direct costs, with selective price increases implemented [34][36] Question: How is the new marketing campaign expected to impact store productivity? - The campaign has received positive feedback, and management is focused on optimizing marketing investments while tracking performance closely [40][41] Question: What are the expectations for brand activations in Q4? - Management expressed optimism about the performance of key brands, including Birkenstock and Nike, with a focus on maintaining better in-stock levels [46] Question: Can you elaborate on the deeper assortment strategy? - The strategy involves increasing product availability and depth for key styles while reducing choice count, aimed at improving inventory productivity [51]

Casey's General Stores (NasdaqGS:CASY) Q1 2026 Earnings Call September 09, 2025 08:30 AM ET Company ParticipantsBrian Johnson - SVP Investor Relations and Business DevelopmentSteve Bramlage - CFODarren Rebelez - Chairman, President, and CEOConference Call ParticipantsBonnie Herzog - AnalystAnthony Bonadio - AnalystChuck Cerankosky - AnalystPooran Sharma - AnalystJacob Aiken-Phillips - AnalystChuck Grom - AnalystKelly Bania - AnalystBobby Griffin - AnalystCorey Tarlowe - AnalystMichael Montani - AnalystOpera ...

U.S. Global Investors (NasdaqCM:GROW) Q4 2025 Earnings Call September 09, 2025 08:30 AM ET Company ParticipantsHolly Schoenfeldt - Director of MarketingFrank Holmes - CEO and CIOLisa Callicotte - CFOHolly SchoenfeldtInvestment Officer Lisa Callicotte, Chief Financial Officer, and myself, Holly Schoenfeldt, Director of Marketing. Moving on to slide number three. During this webcast, we may make forward-looking statements about our relative business outlook. Any forward-looking statements and all other statem ...